U.S. businesses to lobby against Trump's tariffs

U.S. President Trump holds an Oval Office meeting on preparations for hurricane Florence at the White House in Washington

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.

"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 possible resumption of negotiations sent Asian markets rallying with Hong Kong surging 2.5 per cent - having fallen for six straight days and into a bear market - and Shanghai more than one per cent higher.

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.

Asked if the Trump administration would like to have additional trade talks with China, Kudlow said: "If they come to the table in a serious way to generate some positive results, yes of course".

The Trump administration has invited Chinese officials to hold a new round of trade talks, top White House economic adviser Larry Kudlow said Wednesday.

One of the highest-profile casualties of the trade war was United States chipmaker Qualcomm's (QCOM) $44 billion acquisition of Dutch rival NXP Semiconductors (NXPI), which China killed in July by refusing to grant it regulatory approval.

After imposing tariffs on $50 billion worth of Chinese imports, Trump has threatened to do the same on $200 billion of additional imports.

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

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

But US firms are feeling whiplash from both sides as they sell and make goods in China, with Washington's border tax increase and Beijing's counter-punch hurting more than 60% of businesses, according to the poll.

On Thursday, the USA business lobbies AmCham China and AmCham Shanghai published a joint survey showing that the negative impact on United States companies in China of tit-for-tat tariffs Washington and Beijing have imposed on one another was "clear and far reaching".

The invitation comes amid a swelling chorus of opposition to tariffs from Western business circles.

The European Union Chamber of Commerce in China released its own survey on Thursday saying the tariffs were causing "significant disruptions" to global supply chains and "seriously impacting" non-Chinese and non-American companies.

USA business groups are escalating their fight against Trump's tariffs, with over 60 industry groups launching a coalition to put political pressure on the Trump administration to seek alternatives to tariffs.

Related News:

  • Hurricane Florence still a threat despite downgrade

    Hurricane Florence still a threat despite downgrade

    As Florence closed in, President Donald Trump and state and local officials urged residents in the path of the storm to evacuate. Walking his dog along empty streets, Belli said he's well stocked with food and water. "I will enjoy the quiet", he said.
    The Apple Watch is inching toward becoming a medical device

    The Apple Watch is inching toward becoming a medical device

    On Twitter , Apple fans are simultaneously hailing the sleek new products and dragging the company for its name choice. With new models released, the iPhone X would have needed to see a price drop if it stayed on the market.
    'Miraculous': Missouri boy survives after falling head-first on to meat skewer

    'Miraculous': Missouri boy survives after falling head-first on to meat skewer

    His skull was pierced from front-to-back with a 15cm piece of skewer still sticking out of his face. Barring some potential damage to his vocal cords, he is predicted to make a near-full recovery.
  • Jon Hamm addresses Batman rumors: 'I'd probably fit the suit'

    And I've sat in the rooms with all these guys. "And I like the genre, and I like when they are done well". Gosling laughed nervously and then joked that he would do it with La La Land director Damien Chazelle.
    Pope summons bishops for summit on sex-abuse prevention

    Pope summons bishops for summit on sex-abuse prevention

    The meeting is set at the Vatican from February 21 to 24, 2019, according to a communiqué of the Pope's Council of Cardinals . Two of those allegations resulted in settlements, the bishops said. 'True, we are all sinners, we bishops .
    OnePlus 6T Listed on Chinese Online Retail Store Revealing Full Specifications, Images

    OnePlus 6T Listed on Chinese Online Retail Store Revealing Full Specifications, Images

    Going by the pricing of the current OnePlus 6 , it is possible that the 8GB RAM + 128GB variant of the 6T will be priced at $569. A few days back, OnePlus officially confirmed that its next flagship smartphone will feature an in-display fingerprint sensor .
  • Real Madrid will outbid Barcelona, Spurs for De Jong

    Real Madrid will outbid Barcelona, Spurs for De Jong

    Ajax director of football affairs Marc Overmars has stated that Frenkie de Jong will not be departing Amsterdam in January . De Jong moved to Ajax from Willem II in 2015, and represented Jong Ajax before stepping into the first team.

    Apple iPhone XS Max: The Profit Goldmine Investors Should Love

    However, the iPhone SE - Apple's only offering with a compact 4-inch display, also failed to make the cut to 2018 range. Here are all the Apple devices that have received price cut after iPhone XR and iPhone XS launch.
    Pope calls meeting of key bishops on sexual abuse: Vatican

    Pope calls meeting of key bishops on sexual abuse: Vatican

    The US bishops next meet as a body in November in Baltimore, where they are expected to debate and vote on DiNardo's plans. In a first for the Catholic Church , Pope Francis will hold a bishops' summit to deal with sexual abuse in the clergy.
  • Erdogan appoints himself chairman of Turkey's sovereign wealth fund

    Erdogan appoints himself chairman of Turkey's sovereign wealth fund

    It vowed the tight stance in monetary policy would be "maintained decisively until inflation outlook displays a significant improvement".

    Turkey central bank surprises markets with big rate hike

    Real estate sales and rental deals in foreign currency are common in Turkey, particularly in the retail sector. Experts have also warned that its weakness could infect other emerging market currencies.
    House of Fraser and Debenhams merger has ‘been discussed’

    House of Fraser and Debenhams merger has ‘been discussed’

    Ahead of the meeting, three shareholder advisory bodies are said to have told investors not to support Mr Hellawell's re-election. Mr Hellawell will retire with immediate effect following today's AGM and will be replaced by non-executive director David Daly.


Most liked

Saraki, Obasanjo join world leaders at Kofi Annan’s funeral
His coffin, draped in Ghanaian national colors, has since laid in state for public viewing ahead of the burial on Thursday. Born in Kumasi, he joined the United Nations in 1962, working for the World Health Organisation's (WHO) Office in Geneva.

Spotify Raises Download Limit To 10000; Device Limit Up To Five
On top of that, the company is raising the number of devices you can have associated with your account from three to five. Another limit that has been raised is the number of devices that you can hold your downloaded tracks.

Aung San Suu Kyi: Rohingya crisis 'could have been handled better'
The violence in Rakhine has eased but Myanmar now has to deal with its aftermath, especially the repatriation of the Rohingyas. It was a rare defense from Myanmar's soft-spoken leader, now 73, who won the Nobel Peace Prize in 1991.

CALIFORNIA DREAMIN': Gov. Jerry Brown Signs Law BANNING Fossil Fuels by 2045
The nation's largest state now gets just over one-third of its energy from wind, solar or geothermal power, according to the U.S. Some business groups are also critical of the legislation, saying it sets impossible targets and could increase electric bills.

Nigeria vs Liberia: Kick-off time confirmed
This, we can safely say, was probably the last time we'll see the former Fifa World Player of the Year take to a football pitch. Liberian president, George Oppong Weah, was the captain of the opposing side.

Apple No Longer Bundles 3.5mm Audio Dongle With New iPhones
Sam's Club is offering a $100 gift card to members who purchase an iPhone Xs or iPhone Xs Max next week. The iPhone XS (pronounced "ten ess") and XS Max are the updated version of last year's iPhone X.

Mac Miller’s Funeral To Be Held In Pittsburgh
It is believed he died from an overdose but his death certificate states the cause of death is still unknown listed as "deferred". Soon after the 911 call came in, LAPD and Fire officials swarmed the scene and the performer was pronounced dead at his home.

Tesla's super-cute smartphone charger is coming back
The charger comes in your choice of white or black and had a simple design that appealed to smartphone shoppers . Which is a great deal pondering the connected Mophie price dawdle powerstation wi-fi charges $30 more.

Pluto remained a planet
This supports the assertion that a planet should be defined by the intrinsic qualities of a body, rather than by external factors. Part of that stems from the debate surrounding whether or not to classify Pluto as a "real planet " in the first place.

Ericsson, T-Mobile ink $3.5 billion deal to facilitate 5G deployment
With this new Ericsson agreement we're laying the groundwork for 5G - and with Sprint, we can supercharge the 5G revolution". Indeed, this deal follows one the U.S. wireless operator made with Nokia , earlier in the year.

'Dybala will leave Juventus in January'
Manchester United, Manchester City and Chelsea have been heavily linked with Dybala in recent months as have La Liga giants Barcelona and Real Madrid .

Google Cloud appoints new AI head
At Google, Li's mantra was "democratising AI" - spreading the advanced tools to more software developers and academic researchers. Andrew Moore, dean of the school of computer science at Carnegie Mellon University, Google announced on Monday.

Six People Dead After Shooting In Bakersfield
Kern County Sheriff's deputies gather near the scene in Bakersfield California , where a man shot five people dead. When the deputy confronted him at gunpoint the man shot himself in the chest, the sheriff said.

United States invites China to trade talks as tariffs loom: White House adviser
Just six percent, meanwhile, said they would consider moving factories to US soil. -China talks would delay the duties. AmCham China and AmCham Shanghai urged the Trump administration to re-think its approach.

TI backs Cynthia Nixon for New York Governor
By necessity as much as design, Nixon has focused her limited resources on digital outreach and get-out-the-vote activities. Cuomo Bridge just a day after Cuomo held a celebratory ribbon cutting.