U.S. Invites China to Trade Talks as Tariffs Loom

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Orit Frenkel, a former US Trade Representative official and president of consulting firm Frenkel Strategies, also said Trump may feel pressure to reach agreements to avoid continuing the trade war with the midterms fast approaching, but that he would want to see significant concessions from China before backing down.

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

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 United States soybeans, autos and other farm goods. He responded that he wasn't, two of the people said. More than half of USA firms are already feeling Beijing's wrath from non-tariff measures like heightened regulatory scrutiny, more inspections and slower customs clearance, according to the survey.

Both countries are set to return to the table with the threat of new United States tariffs looming. We will soon be taking in Billions in Tariffs & making products at home.

The next round is likely to make thousands of products, ranging from dishwashers to Fitbit fitness trackers and food seasonings, more expensive for American consumers.

News of the invite comes as it emerged Thursday that U.S. firms in China are beginning to feel the pinch of tariffs already imposed on the Asian giant.

The chairman of the American Chamber of Commerce in China warned the Trump administration might be underestimating China's resolve to fight back. A similar amount said they were delaying investment decisions because of the trade tensions.

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Economists and traders have become increasingly skeptical that China's economy can support its rapid development.

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.

Zoom out from the automotive sector, and more than 60% of American companies in China said they have been affected by the tit-for-tat spat.

"The Chinese side believes that the escalation of the trade conflict is not in the interest of either party", Gao Feng, a spokesman for the Ministry of Commerce, said at a regular news briefing.

More than 60% of USA companies polled said the US tariffs were already affecting their business operations, while a similar percentage said Chinese duties on US goods were having an impact on business.

Some 52.1 percent of companies said Chinese authorities are slowing customs clearances, increasing inspections or imposing other "qualitative measures". Exporters in the United States say their business in China has dried up since then.

Trump's Twitter post is consistent with his recent bravado toward China, but it could make Chinese leaders dubious that Trump will be willing to negotiate a deal. Some of them have criticized Trump's tactics but many echo USA complaints about Chinese market barriers and industrial strategy.