Donald Trump: China 'Under Pressure' to Make a Deal with United States

U.S. President Donald Trump holds an Oval Office meeting on preparations for hurricane Florence at the White House in Washington

Donald Trump: China 'Under Pressure' to Make a Deal with United States

Trump met with his top trade advisers on Thursday to discuss the China tariffs, including Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer, the people said.

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

Washington has invited Beijing to hold new talks on their escalating tariff dispute, the Chinese foreign ministry said Thursday, ahead of a decision by President Donald Trump on whether to raise duties on $200 billion of Chinese imports.

The United States and China have imposed tariffs on $50-billion of each other's goods since July as trade frictions between the world's two biggest economies worsened, despite several rounds of negotiations.

China and the United States are set to return to the table with the threat of new USA tariffs looming after Treasury Secretary Steven Mnuchin extended the invitation to counterparts in Beijing.

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

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

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

Trump said there was more pressure on China to make a deal, pointing to their shrinking economy.

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Americans don't notice the 25 percent duty on light trucks, known as the "chicken tax", that has been on the books since 1964, when President Johnson levied it in retaliation for France and West Germany's tariff on US chicken.

More than 52 per cent of respondents to the survey reported already suffering the consequences of such measures, mainly through increased inspections, slower customs clearance and "other complications from increased bureaucratic oversight or regulatory scrutiny".

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.

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.

About 30 per cent said they were adjusting supply chains by seeking to source components and/or assembly outside the USA, and about the same number were seeking to source components and/or assembly outside China.

"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.

Trump said last week that he also had tariffs on an additional $267 billion worth of goods ready "on short notice if I want".

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.

China accuses the USA of launching "the largest trade war in economic history" and has retaliated in kind.

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