China welcomes trade war talks with United States

Irving Hamilton
September 14, 2018

Asked if the Trump administration would like to have additional trade talks with China, Kudlow said: "If they come to the table in a serious way to generate some positive results, yes of course". In China, the yuan jumped and stocks rose.

Roughly three-in-four firms surveyed said duties on an additional $200-billion worth of Chinese goods would hurt business further, and close to 70 per cent said additional retaliatory Chinese tariffs would be bad for business.

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.

Senior U.S. officials led by Treasury Secretary Steven Mnuchin recently sent an invitation to their Chinese counterparts, including Vice Premier Liu He, to hold another bilateral trade meeting.

Sixty-four percent of companies that responded to the AmCham survey, which was conducted between August 29 and September 5, said the first round of tariffs that Trump slapped on $50 billion in Chinese imports this year have negatively affected their operations, while 63 percent said the same about the equal amount of duties Beijing imposed in retaliation.

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

Most of the shoes and at least half of the mattresses and furniture sold in the USA are made in China.

Just six percent, meanwhile, said they would consider moving factories to USA soil.

OnePlus announces new Type-C Bullets earphones
However, nearly two years later, the company has now announced a new pair of wired earphones, dubbed OnePlus Type-C Bullets. The company says that the DAC has a higher dynamic range, higher signal-to-noise ratio and low noise floor.

News of the invite comes as it emerged Thursday that USA firms in China are beginning to feel the pinch of tariffs already imposed on the Asian giant. We will soon be taking in Billions in Tariffs & making products at home.

Trump threatened a third tranche of tariffs on another $267 billion of Chinese imports last week, which would mean levying duties on almost everything China exports to the U.S. Trump said at the time those tariffs were "ready to go on short notice", but the administration hasn't yet published a list for public comment.

Half the respondents reported they had endured more inspections, delayed customs clearance and other forms of heightened regulatory scrutiny. A similar amount said they were delaying investment decisions because of the trade tensions.

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

Some 63.6 percent of more than 430 companies that responded to the American chambers' survey said profits and customer demand have fallen due to the USA tariffs and 62.5 percent said the same about retaliatory Chinese tariffs.

"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.

Farmers felt the pain when China targeted them with retaliatory tariffs, cutting off a major market for USA agriculture exports.

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.

Other reports by

Discuss This Article

FOLLOW OUR NEWSPAPER