China welcomes trade war talks with United States

U.S. President Donald Trump holds an Oval Office meeting on preparations for hurricane Florence at the White House in Washington

US reached out to China for new trade talks, sources say

We will soon be taking in Billions in Tariffs & making products at home.

"This survey affirms our concerns: tariffs are already negatively impacting USA companies and the imposition of a proposed $200-billion tranche will bring a lot more pain", said Eric Zheng, chairman of AmCham Shanghai.

The coalition posted a searchable map linking users to stories from farmers and businesses saying they're harmed by tariffs. -China Business Council, said this week Chinese officials told it they were postponing accepting license applications from American companies in financial services and other fields until relations improve.

News that US Treasury Secretary Steven Mnuchin had invited senior Chinese officials for talks comes just under a week after President Donald Trump threatened to impose tariffs on all Chinese imports worth US$500 billion.

Washington has offered to restart negotiations with Beijing as the trade war escalates, a move analysts say reflects pressure on the White House ahead of critical midterm elections and a weaker Chinese negotiating position as its economy slows.

If another US$267 billion worth of Chinese goods are targeted by the USA before the year's end, it would amount to essentially the entire annual volume of goods imported from China.

"Secretary Mnuchin who is the team leader with China has apparently issued an invitation", Kudlow told Fox Business Network. "Talking is better than not talking, so I regard this as a plus".

But Kudlow was non-committal over the chances of a breakthrough, adding: "I guarantee nothing".

"Tariffs are already negatively impacting USA companies and the imposition of a proposed $200 billion tranche will bring a lot more pain", Eric Zheng, chairman of the American Chamber of Commerce in Shanghai, said Thursday in a statement. "AmCham China and AmCham Shanghai urge both governments to return to the negotiating table".

A day earlier, more than 60 US industry groups launched a coalition - Americans for Free Trade - to take the fight against the tariffs public.

"There seem to be domestic political pressures that are working against the perception of USA companies receiving benefits" during trade disputes, Parker told the South China Morning Post.

The last talks, between mid-level US and Chinese officials on August 22 and 23, failed to reach any agreement.

Scott Kennedy, deputy director of China studies at the Center for Strategic and International Studies in Washington, said he suspected the invitation to talks would be viewed skeptically in Beijing.

"The Wall Street Journal has it wrong, we are under no pressure to make a deal with China, they are under pressure to make a deal with us". A meeting among Cabinet-level officials could ease market worries over the escalating tariff war that threatens to engulf all trade between the world's two largest economies and raise costs for companies and consumers.

The United States and China have so far slapped tariffs of 25% on more than $50 billion worth of each other's exports and more are in the pipeline.

So far, the United States and China have hit US$50 billion worth of each other's goods with tariffs in a dispute over U.S. demands that China make sweeping economic policy changes, including ending joint venture and technology transfer policies, rolling back industrial subsidy programs and better protecting American intellectual property.

It's unclear yet what specific sectors have been affected by the suspension, but it will likely include industries that Beijing has promised to open to foreign businesses, such as banking, securities, insurance and asset management, said Jacob Parker, vice-president for China operations of the USCBC.

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