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The US dominance of high-tech exports to China also contributes to the bilateral trade imbalance, he said. A US study found that if US restrictions on exports to China were relaxed, the trade deficit with China could be reduced by 35 percent.

The US administration announced on Tuesday that goods made in Hong Kong for export to the US will need to be labeled as "Made in China" after Sept 25.

The US cruise ship Viking Orion is docked at the port city of Haikou for the first time in Haikou city, South China's Hainan province, Oct 5, 2018. [Photo/IC]

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The UK has also proven a major target for Chinese buyers. Thomson Reuters tracked 29 Chinese takeovers of UK companies worth a total of 13 billion pounds (.7 billion). At the same time last year, 25 deals worth 3 billion pounds had been agreed.

The US has seen a week of protests over the May 25 killing of Floyd, a black man who died after a white police officer in Minneapolis, Minnesota, pressed a knee into his neck.

The USMCA would give Washington veto power over any bilateral deal Canada or Mexico may wish to reach with "a non-market country" - wording often used to describe China.

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The United States may be acting in its own short-term interests, but showing a lack of vision that could potentially backfire on itself, as well as hamper world trade, according to Argentine economist Ricardo Arriazu.

The US president also accused the WHO of being "very China centric".

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The US Capitol is seen in Washington DC, the United States, on Jan 22, 2018. US Senate reached 60 votes Monday to advance bill to end government shutdown. [Photo/Xinhua]

The US government recently added Chinese tech champions including Huawei to its Entity List due to so-called safety concerns, which would effectively ban US companies from selling components and software to them.