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

The U.S.is reaching out to China for a new round of trade talks, in an effort to give Beijing another opportunity to address Washington's concerns over trade issues before the Trump administration implements additional tariffs on Chinese imports, according to people briefed on the matter.

Trump said there was more pressure on China to make a deal, pointing to their shrinking economy. Our markets are surging, theirs are collapsing.

"If we meet, we meet?" he said.

A pending list of $200 billion worth of goods and the threat of another $267 billion would basically cover every Chinese export to the United States.

White House economic adviser Larry Kudlow would not confirm the meeting invitation, but said that communication with Beijing had "picked up a notch".

Chinese Foreign Ministry spokesman Geng Shuang told reporters that China welcomed the invitation, and the two countries were discussing the details.

"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 risky", warned Harborn.

Two people familiar with the effort said Mr Mnuchin's invitation was sent to his Chinese counterparts, including Vice Premier Liu He, the top economic adviser to Chinese President Xi Jinping, for talks in coming weeks. 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.

But he cautioned: "I guarantee nothing".

Mid-level USA and Chinese officials met on August 22 and 23 with no agreements.

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So far, the United States and China have hit US$50 billion worth of each other's 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.

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

Dow Jones reports that the United States is proposing a new round of trade talks with China in the near future.

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

Democrat McCaskill leads Republican Hawley by 3 points in Missouri Senate race Pence cancels trip to Georgia after Hurricane Florence path changes Trump's school safety commission will not support age limits for gun purchases: report MORE on Thursday pushed back on a Wall Street Journal article claiming that the U.S.is facing new pressure to make a trade deal with China.

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.

"If nearly a half of American companies anticipate a strong negative impact from the next round of US tariffs, then the USA administration will be hurting the companies it should be helping", he said.

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.

The survey released Thursday by the European Union Chamber of Commerce in China polled almost 200 European firms doing business in China and found 17% are delaying investment or expansion plans.

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