Trump complains China hasn't met G20 promise on farm goods purchase

June marked the first full month of higher US tariffs on $200 billion of Chinese goods, which Washington announced weeks earlier after trade talks between the world's largest economies broke down. Analysts believe the downtrend was caused by concerns regarding the potential re-escalation of the China-U.S. trade war.

"The sector remains quite resilient" against the headwinds of Sino-US trade disputes and slowing global economic growth, he said. Articles appear on euronews.com for a limited time.

After the G20 in Japan last month, the president mentioned that he and Xi had declared a truce of their trade war so talks may continue.

In a tweet on Thursday, the President criticised China's lack of imports from the U.S. and accused Beijing of going back on promises to reduce China's trade surplus with the United States by buying more American goods.

The world's second largest economy expanded 6.2 percent in April-June, the poll of 10 economists predicted, ahead of the official release of gross domestic product figures Monday.

Asia-Pacific shares went down on Friday, a day after U.S. President Donald Trump said China wasn't delivering on its pledge to purchase more agricultural products as part of the terms in the highly-anticipated China-U.S. trade deal.

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A steady performance of the domestic economy could provide Beijing with fresh confidence to take a harder stance in talks with Washington, as it would indicate the USA tariffs and the acceleration of the relocation of manufacturing from China to Southeast Asian countries has not derailed growth. Beijing has stepped up support for its economy but the moves have not been enough to offset a domestic slowdown and softening overseas demand for its toys, gadgets and electronics.

Imports last month fell 7.3 per cent from a year earlier, sharper than a 4.5 per cent decline tipped by analysts but less than the 8.5 per cent drop in May. Now we have a trade deficit of 500 billion dollars a year, with an intellectual property theft of another 300 billion dollars. And despite the hardball tactics from the Trump administration, China's trade surplus with the U.S. remains heavily lopsided in its favour. Analysts had forecast a surplus of US$44.65 billion for June.

Chinese banks made 1.66 trillion yuan ($241.47 billion) in new loans last month, but the figure was less than the same month previous year. China's trade surplus with the United States widened by 3 percent to $29.9 billion, potentially giving its critics ammunition to demand Washington take a hard line with Beijing.

Chinese and U.S. negotiators spoke by phone Tuesday and are discussing a face-to-face assembly in the future.

Trump also claimed Xi had agreed that China would buy large amounts of USA agricultural goods.

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