China trade surplus with United States widens to record $34.1 billion

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Trump has been publicly criticizing the Fed since July for interest-rate increases and declared he was "not happy" in September when the central bank raised rates for the third time this year. Add Trump Administration as an interest to stay up to date on the latest Trump Administration news, video, and analysis from ABC News.

President Donald Trump has publicly and privately pressured Mnuchin to declare China a currency manipulator, but Treasury staff haven't found grounds to do so, according to the people, who spoke on the condition of anonymity.

"I won't let a stock market move on its own reshape my view of the economy", Bostic said.

Mnuchin, who praised Fed Chairman Jerome Powell, said the president understands that the Fed is doing its job. But Mnuchin disputed that Trump's comments represented an attack on the Fed.

But as U.S. interest rates have risen, the United States dollar has strengthened further, which makes American exports more expensive.

"A lot of people were concerned when the QEs were done whether the Fed would ever be able to downsize and I think the market has handled the supply very well, ' Mnuchin said".

Foreign ministry spokesman Lu Kang offered no specifics, but said that "I have also seen the relevant reports". "Markets tend to go too far in both directions and they have natural corrections". "We want to make sure that whatever we make up on trade, we don't lose on currencies", he said. They also expressed concern about use of the technology in weapons.

America needs Nikki Haley to return to public service
They spoke on condition of anonymity because they weren't authorized to speak on the record ahead of Trump's announcement. Haley, formerly the Republican governor of SC , was confirmed as United Nations ambassador in January 2017.

He also blamed previous US presidents for allowing China to pursue unfair trade practices and said he had to tell Beijing, "It's over".

But new figures suggest that the plan may not be working as the USA trade deficit with China reached a new high of £26billion ($34.1billion).

Chinese exports to the U.S. also rose by 14 percent while Chinese imports from America dropped 1.2 percent.

The newspaper said the White House is laying the groundwork for the meeting, saying Treasury Secretary Stephen Mnuchin and National Economic Council Director Larry Kudlow want to de-escalate the trade fight.

Wray said that China was trying "to get secret information about our trade, our ideas, and innovations" using "an expanding set of unconventional methods each time to achieve their goals" and warned that economic espionage from China would affect companies in all sectors of the U.S. economy.

Trump has made similar accusations, although security experts say they didn't know of any Chinese influence operations comparable to Russian activities during the 2016 presidential election. "It's not something I'm at all losing any sleep about".