China welcomes trade war talks with United States

Trump has threatened to slap tariffs on nearly all goods the US buys from China

Trump has threatened to slap tariffs on nearly all goods the US buys from China

So far, the United States and China have hit $50 billion worth of each others' goods with tariffs in a dispute over USA 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.

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.

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

"China has indeed received an invitation from the United States and holds a welcoming attitude to it".

One researcher at Taiwan's Chung-Hua Institution for Economic Research, Roy Chun Lee says that "the historical example of the U.S. -Japan economic conflict suggests that the U.S".

"There's some discussions and information that we received that the Chinese government - the top of the Chinese government wished to pursue talks", Mr Kudlow said.

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

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

Beijing has issued a list of $60 billion of American products for retaliation if Trump's next tariff hike goes ahead.

"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 AmCham Shanghai chairman Eric Zheng.

The chairman of the American Chamber of Commerce in China warned the Trump administration might be underestimating China's resolve to fight back.

A US Treasury spokesman did not respond to requests for comment.

"There seem to be domestic political pressures that are working against the perception of USA companies receiving benefits" during trade disputes, Parker told the South China Morning Post.

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.

Some 52.1 percent of companies said Chinese authorities are slowing customs clearances, increasing inspections or imposing other "qualitative measures".

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. "The US administration will be hurting the companies it should be helping".

The American Chamber of Commerce in China polled more than 430 United States companies operating in the country, providing the first detailed look at how Donald Trump's trade fight has harmed business.

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