U.S. seeking new trade talks with China

U.S. seeking new trade talks with China

The current world trade system is not ideal and China supports reforms to it, including to the World Trade Organisation, to make it fairer and more effective, Beijing's top diplomat said.

China's stock market slumped to a 31 month low on Wednesday, Sept. 12.

The new round would be in addition to $50 billion in Chinese goods that already face a 25 percent duty.

Talk might be cheap, but it is certainly better than another round of multi-billion-dollar tit-for-tat tariffs between the United States and China.

The Journal reported that the US reached out because of political pressure on Trump to ease up on trade fights ahead of November's midterm elections.

The announcement followed reports by American and European chambers of commerce that foreign companies in China have been hurt by earlier tariff hikes by both sides in the fight over Beijing's technology policy.

The U.S. -China Business Council (USCBC), a nonpartisan non-profit representing around 200 American companies, told Observer that, in recent weeks, the council has been hearing from U.S. companies about delays and challenges getting licensing approvals in China.

"We support President Trump's efforts to reset U.S".

The Trump administration has invited Chinese officials to restart trade talks, the White House's top economic adviser said on Wednesday, as Washington prepares to further escalate the U.S.

Half the respondents reported they had endured more inspections, delayed customs clearance and other forms of heightened regulatory scrutiny.

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His remarks come as China and the United States may return to the negotiating table with the threat of new US tariffs looming.

He vowed last week to increase tariffs to hit an additional US$200 billion in Chinese imports "very soon" unless China agreed to steps that would reduce its massive trade surplus.

President Donald Trump said on Twitter on Thursday that the United States holds the upper hand in talks.

"The U.S. administration runs the risk of a downward spiral of attack and counterattack, benefiting no one", Zarit said in statement.

"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.

Meanwhile, almost a third of companies said they were considering delaying or canceling investments, underscoring the heightened uncertainty created by the trade tensions.

The survey released Thursday by the European Union Chamber of Commerce in China polled almost 200 European firms doing business in China and found 17% are delaying investment or expansion plans. -China trade war with tariffs on $200 billion worth of Chinese goods.

"I think most of us think it's better to talk than not to talk, and I think the Chinese government is willing to talk", Kudlow said.

Roughly a third of firms are shifting supply chains out of China, or the United States, and an equal proportion are delaying or cancelling investment decisions, the survey showed.

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