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Trump denies pressure for trade deal as China welcomes US talks invite

14 September 2018

Trump imposed his first phase of tariffs this summer on $50 billion of Chinese goods, including high-end technology parts and manufactured goods, while Beijing fired back dollar-for-dollar at U.S. soybeans, autos and other farm goods.

Americans for Free Trade, a group of more than 80 associations, said it represents thousands of businesses and workers.

It was unclear whether any U.S.

The coalition posted a searchable map linking users to stories from farmers and businesses saying they're harmed by tariffs.

The Trump administration had invited Chinese officials to restart trade talks, the White House's top economic adviser said on Wednesday, news that gave a lift to Asian stocks, including Chinese shares and the yuan currency.

"Chinese officials said they have grown wary of the Trump administration's unpredictable decision-making process and may be hesitant to accept without a clear sign US negotiators have authority to speak for the president", the original report said. The White House is pushing tariffs as a powerful negotiating tool for winning what it says are better trade deals for all Americans.

Beijing "has indeed received an invitation from the United States and holds a welcoming attitude to it", said Gao, noting the "two sides are still communicating on the specific details".

In a survey by two American chambers of commerce in China, almost two-thirds of U.S. firms who responded said the waves of new tariffs have harmed their business.

Larry Kudlow, who heads the White House Economic Council, told Fox Business Network that US Treasury Secretary Steven Mnuchin had sent an invitation to senior Chinese officials, but he declined to provide further details.

"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.

"Tariffs are already negatively impacting United States companies and the imposition of a proposed $200 billion tranche will bring a lot more pain", Eric Zheng, chairman of the American Chamber of Commerce in Shanghai, said Thursday in a statement.

Eric Zheng, chairman of AmCham Shanghai, said he supported the administration's goal to push Beijing into overhauling trade practices Trump considers unfair.

But he cautioned: "I guarantee nothing".

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

The last talks, between mid-level USA and Chinese officials on August 22 and 23, failed to reach any agreement.

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.

Scott Kennedy, deputy director of China studies at the Center for Strategic and International Studies in Washington, said he suspected the invitation to talks would be viewed skeptically in Beijing.

He said on Twitter that a Wall Street Journal story on Wednesday about the talks invitation from Treasury Secretary Steven Mnuchin amid rising US political pressure on Trump to ease up on trade fights "has it wrong". A meeting among Cabinet-level officials could ease market worries over the escalating tariff war that threatens to engulf all trade between the world's two largest economies and raise costs for companies and consumers.

So, as Trump's tariff hikes on Chinese imports keep ramping up, China is naturally running out of room to retaliate.

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

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

Trump denies pressure for trade deal as China welcomes US talks invite