U.S. Invites China to Trade Talks as Tariffs Loom


U.S. Invites China to Trade Talks as Tariffs Loom

"At the same time, we do not believe that the current system is ideal and without flaws", he said.

But China will not buckle to USA demands in any trade negotiations, the major state-run China Daily newspaper said in an editorial on Friday, after Chinese officials welcomed an invitation from Washington for a new round of talks. "Now the two sides are in communication on relevant details".

American officials also worry they might erode USA industrial leadership. "The US administration will be hurting the companies it should be helping". They said almost one-third are thinking about canceling or postponing investment decisions.

More than half of United States firms are already feeling Beijing's wrath from non-tariff measures like heightened regulatory scrutiny, more inspections and slower customs clearance, according to the survey.

Trump and his advisers have argued that the tariffs are necessary to pressure Beijing to abandon unfair practices.

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

William Zarit, the chairman of the American Chamber of Commerce in China, warned the Trump administration against assuming those difficulties will force Beijing to cave in to its demands.

So far, the United States and China have hit US$50 billion worth of each other's goods with tariffs in a dispute over USA 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.

China's Commerce Ministry said both sides would want to avoid escalation. It said the conflict is "causing significant disruptions to global supply chains". That prompted worries it would use regulatory controls to disrupt USA business operations in China.

Trump said last week he could move "very soon" to impose tariffs on an additional $200bn (£153bn) worth of products with taxes on another $267bn "ready to go on short notice". So, as Trump's tariff hikes on Chinese imports keep ramping up, China is naturally running out of room to retaliate. The days of the USA being ripped-off by other nations is OVER!

More than 60 percent of US companies polled said the USA tariffs were already affecting their business operations, while a similar percentage said Chinese duties on US goods were having an impact on business. Some 67.6 percent said the same of China's planned retaliatory tariffs on $60 of American goods.

Some 52.1 percent of companies said Chinese authorities are slowing customs clearances, increasing inspections or imposing other "qualitative measures".

About half of American firms are making less money, and a similar amount are reporting higher production costs, according to the survey.

China has tried without success to recruit Germany, France, South Korea and other governments as allies against Washington.

The duty on light trucks, which account for about 50 percent of auto sales in the US, was hardly mentioned before Mr. Trump started threatening Europe with tariffs on vehicles.

A series of companies want President Trump to know that tariffs are hurting USA industries.