USA proposing new round of trade talks with China

As the Trump administration readies major trade actions this month, including a potential $200 billion in new tariffs on imported Chinese goods, America's biggest trade associations - representing a wide swath of industries - have formed what they say will be a sweeping campaign against tariffs.

But Beijing has come up with a non-tariff move to deal with the escalating trade battle, and it's making many American businesses' worst fear come true.

"Our markets are surging, theirs are collapsing", he wrote.

"They all found it very incredible how our specific industry has so much product. on the list and we were able to open up how that affects our industry as a whole", said Tiffany Zarfas Williams who owns the Luggage Shop in Lubbock, Texas.

A pending $200 billion list would extend further into consumer goods, and the threat of an additional $267 billion would basically cover every Chinese export to the US.

Chinese stocks traded on USA exchanges went from modest losses to modest gains after The Wall Street Journal reported that the Trump administration will open a new round of trade talks with China before imposing additional tariffs.

"We share the concerns of the United States regarding China's trade and investment practices, but continuing along the path of tariff escalation is extremely unsafe", warned Harborn.

"There's some discussions and information that we received that the Chinese government - the top of the Chinese government wished to pursue talks", Kudlow told Fox Business Network on Wednesday.

The outreach to Beijing is reportedly being led by Mnuchin, who recently sent an invitation to propose another meeting with a ministerial level delegation.


But Kudlow was non-committal over the chances of a breakthrough, adding: "I guarantee nothing". Mid-level USA and Chinese officials held inconclusive talks on Aug 22 and 23.

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.

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

China has threatened retaliation, which could include action against US companies operating there.

"We are under no pressure to make a deal with China, they are under pressure to make a deal with us", he wrote on Twitter, in response to a Wall Street Journal article that cited "a steady rise in political pressure" to ease up on trade fights.

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. The US government accuses China of stealing intellectual property and forcing American companies to hand over valuable technology. "AmCham China and AmCham Shanghai urge both governments to return to the negotiating table".

The European Union Chamber of Commerce in China released its own survey on Thursday saying the tariffs were causing "significant disruptions" to global supply chains and "seriously impacting" non-Chinese and non-American companies.

A new coalition named Americans for Free Trade will act as an umbrella group for United States manufacturers, retail and agricultural businesses to lobby against Trump under the slogan, "Tariffs hurt the heartland".

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