In other news, U.S. President Donald Trump says he will raise existing tariffs on Chinese goods. in response to retaliatory duties announced by Beijing.
In a tweet Friday, Trump said Washington will up tariffs from 25 percent to 30 percent on 250 billion U.S. dollars in goods from China that are being taxed starting October first.
He also said he'll increase tariffs on another 300 billion dollars in Chinese imports from 10 percent to 15 percent.
Trump's move comes after China announced new retaliatory tariffs on about 75 billion dollars worth of U.S. goods.
Beijing will place additional tariffs of five or ten percent on U.S. imports starting September.