China welcomes U.S. invitation for new round of trade talks

Emergence of the group, Americans for Free Trade, comes after Trump has warmed to the use of tariffs, implementing billions of dollars worth in an effort to use them as a threat to win concessions or in the belief they will create United States jobs.

Chinese stocks traded on United States exchanges went from modest losses to modest gains after The Wall Street Journal reported that the Trump administration will open a new round of trade talks with China before imposing additional tariffs.

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.

"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.

"We are under no pressure to make a deal with China, they are under pressure to make a deal with us", Trump tweeted.

"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", he said.

But Kudlow was non-committal over the chances of a breakthrough, adding: "I guarantee nothing".

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

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.

The Trump administration's $200 billion tariff list would hit a broad array of internet technology products and consumer goods from handbags to vacuum cleaners and bicycles to furniture.

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

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Businesses received potentially good news on Wednesday after US Treasury Secretary Steven Mnuchin proposed a fresh round of trade talks between the economic superpowers to avert a full-blown trade war.

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

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.

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.

"We are under no pressure to make a deal with China, they are under pressure to make a deal with us", he wrote on Twitter, in response to a Wall Street Journal article that cited "a steady rise in political pressure" to ease up on trade fights.

The Journal reported that the US reached out because of political pressure on Trump to ease up on trade fights ahead of November's midterm elections.

A broad coalition of USA businesses, from farmers to retailers, have, however, been fighting back against Trump's tariffs, warning that they are hurting the us economy.

The Global Times, published by the ruling Communist Party's People's Daily, cautioned against seeing the invitation from Washington as a sign that the Trump administration had softened its stance.

Two-thirds of American companies that responded to a survey said they have suffered lost sales or lower profits due to that increase, two chambers of commerce reported Thursday.

The talks could stave off the growing costs for American firms, though the two sides have failed to reach an agreement over several rounds of negotiations in spring and summer.

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