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

US reached out to China for new trade talks, sources say

Running Out of Tariff Options, China Takes Aim at American Companies

Talk might be cheap, but it is certainly better than another round of multi-billion-dollar tit-for-tat tariffs between the United States and China.

Officials are reportedly still working on the final list of products.

Trump threatened a third tranche of tariffs on another $267 billion of Chinese imports last week, which would mean levying duties on almost everything China exports to the U.S. Trump said at the time those tariffs were "ready to go on short notice", but the administration hasn't yet published a list for public comment.

The Trump administration is preparing to activate tariffs on US$200 billion worth of Chinese goods, hitting a broad array of internet technology products and consumer goods from handbags to bicycles to furniture.

"We support President Trump's efforts to reset U.S". Financial markets have been whipsawed this week by conflicting reports on the status of trade talks between the world's two largest economies.

A day earlier, more than 60 USA industry groups launched a coalition - Americans for Free Trade - to take the fight against the tariffs public.

The White House is under enormous pressure from U.S. companies to resolve its differences with China swiftly before either country imposes more tariffs or restrictions that these firms argue could hurt growth and lead to lost American jobs.

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

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

China has also warned it could unleash "qualitative" measures, which US business groups have interpreted as more burdensome regulations, stalled visas and other red-tape headaches.

Some in the administration are trying to restart talks to defuse the trade war, but Mr Trump said on Thursday the USA is under "no pressure" to strike a deal.

Some 52.1 percent of companies said Chinese authorities are slowing customs clearances, increasing inspections or imposing other "qualitative measures".

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.

China has resorted to the WTO in a bid to build global pressure on the United States, which it says has failed to comply with an earlier WTO ruling regarding its anti-dumping duties on Chinese imports. A similar amount said they were delaying investment decisions because of the trade tensions. "There's some discussions and information that we received that the Chinese government - the top of the Chinese government wished to pursue talks".

According to a Tuesday report by the Hong Kong-based South China Morning Post, the Chinese government has suspended issuing new licenses to American companies that want to conduct business in China.

A worker places U.S. and China flags near the Forbidden City ahead of a visit by U.S. President Donald Trump to Beijing, in Beijing, China November 8, 2017.

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