China exports fall again as USA trade war continues

Trump will make final call on China tariffs likes direction of talks- Kudlow

US Treasury yields climbed on the strong employment report, with benchmark 10-year notes rising to 1.843%.

Imports unexpectedly rose 0.3% from a year earlier, marking the first year-on-year growth since April and compared with a 1.8% decline forecast by economists.

China's trade surplus with the U.S. fell about 30 percent to over 24.6 billion dollars.

Beijing and Washington continue to negotiate for a phase one trade deal aimed at de-escalating a trade dispute that has roiled global markets and stoked worries about a global recession. His administration has also labeled China a "currency manipulator".

US President Donald Trump lashed out at the World Bank on Friday for loaning money to China.

With about a week to go before the deadline amid "intense" negotiations, Kudlow said Trump would make the final decision on the import tariffs, which would hit Chinese-made cellphones, laptop computers, toys and clothing.

The public rebuke of the World Bank comes as the United States and China are striving to strike a deal to end an 18-month trade war.

But China says existing tariffs must be scrapped as part of any interim deal.

Washington and Beijing hope to first reach a "Phase One" deal where no new tariffs would be placed on Chinese goods in exchange for China buying US agricultural products.

China's exports in November shrank for the fourth consecutive month, customs data showed on Sunday, confounding market expectations for a rise and underscoring persistent pressures on manufacturers from the Sino-US trade dispute.

Trump has stated that the tariffs on Chinese goods will revive American manufacturing and prevent China from flooding the global market with cheap exports.

Maruti Suzuki India Ltd will be in focus as the company, after nine straight months of falling production, built more vehicles in November than a year earlier, following the mild sales recovery seen in the festive month of October.

Authorities have instead opted for more targeted measures such as incremental interest rate reductions and bringing forward 1 trillion yuan ($142.1 billion) of the 2020 local government special bonds quota to this year.

Donald Trump has called upon the World Bank to stop lending money to China, while saying that Beijing has "plenty of money" of its own or can "create" it if it wishes to.



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