China says Washington asks to resume talks on tariff fight

Cornelia Mascio
Settembre 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".

Washington, Europe and other trading partners say those plans violate China's market-opening commitments.

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

Officials from both countries have met four times for formal talks, most recently in August, when Treasury's undersecretary for worldwide affairs, David Malpass, led discussions in Washington with Chinese Vice Minister Wang Shouwen.

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

The negative impact of the tariffs on US firms has been "clear and far-reaching", according to a joint survey by AmCham China and AmCham Shanghai.

From cooling US inflation to central-bank meetings in Europe, the U.K. Turkey and Russian Federation, it's been a busy week for investors.

Zheng expressed support for Trump's wider aim of levelling the playing field between the US and China, and addressing "long-standing inequities".

Half the respondents reported they had endured more inspections, delayed customs clearance and other forms of heightened regulatory scrutiny. Things are likely to continue to slow with Donald Trump's threat made over the weekend that an additional round of tariffs targeting US$267 billion are already being lined up to follow the US$200 billion expected to go into effect within days.

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.

To avoid the tariffs, 30 percent of US companies are looking at moving assembly out of the United States or China or finding new suppliers, the chambers said.

It resulted, however, in Americans for decades missing out on innovations from European truck makers and paying higher prices for US pickups and sport utility vehicles, said Mark J. Perry, an economist at the American Enterprise Institute.

The unpredictability around the trade fight is hampering investment decisions as investors need stability to make sound decisions, Beebe said.

More than 60 per cent of U.S. companies polled said the United States tariffs were already affecting their business operations, while a similar percentage said Chinese duties on USA goods were having an impact on business.

"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.

About 30% of firms said they were shifting parts of their supply chains away from China and the United States to buy components from other places.

One of the highest-profile casualties of the trade war was U.S. chipmaker Qualcomm's (QCOM) $44 billion acquisition of Dutch rival NXP Semiconductors (NXPI), which China killed in July by refusing to grant it regulatory approval.

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