US Tightens Controls on China Imports of Nuclear Components

Trump Chinese lived too well for too long

These efforts are necessary to strike an appropriate balance between the long-term risk to US national security and economic interests, as well as the immediate impact to the US nuclear industrial base, the US' Department of Energy said.

President Donald Trump regularly cites the United States' massive trade deficit with China as a primary justification for his decision to implement tariffs.

China's trade surplus with the United States widened to a record in September despite wider application of USA tariffs, an outcome that could push President Donald Trump to turn up the heat on Beijing in their trade dispute.

Mr Trump lashed out as as senior White House figures accused China of trying to destabilise USA democracy and presenting the most serious threat to its security.

Beijing's export data has been surprisingly resilient to tariffs, possibly because companies ramped up shipments before broader and stiffer US duties went into effect, raising concerns about a sharper drop in export strength once all tariffs kick in.

Last month, Fitch Ratings cut its GDP growth forecast for China by 0.2 per cent to 6.1 per cent next year and cut its global forecast by 0.1 per cent in 2019, saying that the ratings agency does not "expect further policy easing to fully offset the drag from new United States tariffs" on the Chinese economy.

Imports rose 14.3 percent in September, versus a 19.9 percent gain in August, slightly missing analysts' forecast of a 15.0 percent growth. A draft report ratchets up criticism of Beijing for failing to rectify its trade imbalance, and also singles out several other countries for eroding the U.S.'s competitive edge, the people said.

"If the U.S. sold four Ford-class aircraft carriers priced at $15bn (£11.4bn) each, it would easily make up for the $60bn trade deficit with China", said the editorial in The People's Daily, a Chinese state media outlet and Communist party mouthpiece.




China's record high surplus with the U.S. could add to tensions in the trade relationship between the world's two largest economies. The Trump administration has also accused China of trying to undermine the president ahead of next month's congressional elections, something Beijing has denied. China's central bank cut its daily reference rate for a ninth day to 6.9120.

"The United States can not ignore the national security implications of China's efforts to obtain nuclear technology outside of established processes of the US-China civil nuclear cooperation", Secretary of Energy Rick Perry said after his department announced the measures on Thursday.

Over the first nine months of the year, China's surplus with its largest export market totalled $225.79 billion, compared with about $196.01 billion in the same period last year.

China's overall export growth accelerated, temporarily defying forecasts of a slowdown as the global economy and consumer demand cool.

Meanwhile, China is ramping up exports before the Trump administration's tariffs take full effect. "Their economy has gone down very substantially and I have a lot more to do if I want to do it".

Shipping containers are seen at a port in Lianyungang, Jiangsu province, China September 8, 2018.

The government is also concerned about diversion for use of technology by other countries, one of the officials said.

With global growth cooling and US threats of more tariff hikes, "the recent resilience of exports is unlikely to be sustained", said Evans-Pritchard.

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