China will not 'surrender' to US demands in trade talks: State media

China will not 'surrender' to US demands in trade talks: State media

China will not 'surrender' to US demands in trade talks: State media

The Trump administration has reached out to China for a new round of trade talks as it prepares to activate punitive US tariffs on $200 billion worth of Chinese goods, two people familiar with the matter said Wednesday.

"We are under no pressure to make a deal with China, they are under pressure to make a deal with us", Trump tweeted.

"With the $200 billion round of tariffs looming, this is probably the best time for the U.S. to go back to the table with a "take it or leave it" type of trade demand", Robert Carnell, the chief Asia-Pacific economist at investment bank ING, said in a note.

"The White House has threatened to fire the next barrage of tariffs at $200 billion more Chinese goods, expecting with this onslaught, or subsequent ones, China will wave a white flag", he said.

American companies in China are being hurt by tariffs in the growing trade war between Washington and Beijing, according to a survey of hundreds of firms, prompting the US business lobbies behind the poll to urge the Trump administration to reconsider its approach. "And so, Secretary Mnuchin, who is the team leader with China, has apparently issued an invitation". "If you have a big decline in the stock market just before the election, it could swing it in the way of the Democrats".

"American companies are suffering both from China's retaliatory tariffs, and - ironically - from US tariffs created to harm the Chinese economy", the two chambers said in a statement.

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

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The possible resumption of negotiations sent Asian markets rallying with Hong Kong surging 2.5 per cent - having fallen for six straight days and into a bear market - and Shanghai more than one per cent higher.

The Trump administration is preparing to activate tariffs on $200 billion worth of Chinese goods, hitting a broad array of internet technology products and consumer goods from handbags to bicycles to furniture. -China trade war with tariffs on $200 billion worth of Chinese goods.

AmCham China and AmCham Shanghai urged the Trump administration to re-think its approach.

"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.

But he cautioned: "I guarantee nothing".

However, the last round of talks, between mid-level USA and Chinese officials in August, failed to reach any agreement.

The US and China have slapped tariffs on $50bn of one another's goods this year in an escalating trade war between the world's two largest economies.

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

China may not be able to match future US tariffs dollar for dollar and has warned that it would take other measures.

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

That shows "neither side is 'winning, '" because "both are equally prone to losing companies", the chamber said.

The invitation was first reported by the Wall Street Journal.

AmCham's survey results come a day after more than 60 US industry groups launched a coalition called Americans For Free Trade, which aims to halt the White House's proposed tariffs.

The timing and location of the proposed meeting were unclear, the sources familiar with the matter said. -China Business Council, said this week Chinese officials told it they were postponing accepting license applications from American companies in financial services and other fields until relations improve.

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