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Washington has warned it may ultimately impose tariffs on more than $500bn worth of Chinese goods - almost the total amount of USA imports from China previous year. So far, encouraged by strong job growth and expectations of good quarterly earnings reports, USA markets have been strong and the Australian market has reached a 10-year record high.

Companies worry the spiralling dispute might dampen global trade and economic growth. "They are just a trade bully", he told reporters in Geneva.

Exports rose 11.3 per cent over a year earlier to $216.7 billion, down from May's 12.6 per cent growth, customs data showed Friday.

China's trade surplus with the United States widened to a record in June, risking further escalation of a a bitter trade dispute with Washington.

Earlier this week Donald Trump proposed a 10% tariff on $200bn of Chinese goods entering the United States, saying that tariffs already in place on steel and aluminium imports and $34bn of goods had failed to force significant reforms by Beijing.

The record deficit last month threatens to irritate the White House, which wants to see the extra tariffs on imports reversing the recent trend.

In yuan terms, China's exports grew 3.1% in June and imports rose 6.0%.

"There will be challenges facing foreign trade with rising instabilities and uncertainties in the global environment, " said a Chinese customs agency report.

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The ministry encouraged companies to increase import of soybean, soymeal, vehicles, aquatic products from other markets.

China's total exports rose 11.3% year-on-year in June, beating a Bloomberg News forecast of 9.5%.

In a sign Beijing is seeking alternative supplies of the commodities as it hit U.S. imports with extra tariffs, China had dropped import tariffs on a range of animal feed ingredients from several Asian countries.

Speaking after a regular two-yearly review of China's trade policies at the World Trade Organization (WTO), Wang was sceptical.

In June the surplus with the U.S. was at $28.97 billion, up from $24.58 billion in May, according to Reuters calculations based on customs data released on Friday.

For January-June, it rose to $133.76 billion, compared with about $117.51 billion in the same period previous year.

Chinese data released Friday showed that the United States trade deficit with China hit $28.97 billion in June, an increase of $4.39 billion from May, according to Reuters. China retaliated with higher duties on a similar amount of American goods.


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