Trump appeared to walk back his more menacing rhetoric in a Sunday social media post that said “it will all be fine”, adding that the United States wants to “help” China.
On Monday, as the outlook for trade with the United States darkened, newly released official data for September showed that China’s overseas shipments have remained resilient.
Exports jumped 8.3 per cent year-on-year last month, the fastest expansion since March and much faster than forecasts.
Shipments to the United States – the world’s largest consumer market – picked up to reach US$34.3 billion, the data showed.
Chinese goods currently face US tariffs of at least 30 per cent under levies that Trump imposed while accusing Beijing of aiding in the fentanyl trade as well as unfair trade practices.
China’s retaliatory tariffs are currently at 10 per cent.
Beijing’s commerce ministry spokesperson said China wanted to “reiterate that export control measures concerning rare earths and related items constitute legitimate actions by the Chinese government to improve its export control system in accordance with laws and regulations”.
“As a responsible major power, China has consistently and resolutely safeguarded its own national security and international collective security,” the spokesperson added.
The global impact of Trump’s tariff onslaught is in the spotlight this week as a semi-annual gathering of the International Monetary Fund and the World Bank takes place in Washington.
The White House continues to insist that the long-term effect of tariffs will be positive for the United States, pointing to their relatively muted economic impact so far.
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