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

Steven Mnuchin Wilbur Ross

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:

  • Pro- and anti- whaling nations set for clash in Brazil

    Pro- and anti- whaling nations set for clash in Brazil

    Some, however, contend the research program remains a cover for commercial whaling because the whale meat is sold for food. Aboriginal groups in several countries are allowed to hunt whales for subsistence and cultural purposes.
    Sphero Intros BOLT Robot for STEAM Education

    Sphero Intros BOLT Robot for STEAM Education

    It's pricey, but if you haven't quite got the funds for the Bolt, the SPRK+ offers a similar range of features for less. Sphero is shifting from cute toys that weren't selling well to education, where its machines are proving useful.
    Alphonse Areola ‘wanted Chelsea move’ after Buffon arrival

    Alphonse Areola ‘wanted Chelsea move’ after Buffon arrival

    And the Blues coach believes the PSG stopper should be playing ahead of France captain Hugo Lloris . Lollichon went on to lament how the young keeper has been treated by PSG.
  • Saraki, Obasanjo join world leaders at Kofi Annan’s funeral

    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.
    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.
    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.
  • Apple No Longer Bundles 3.5mm Audio Dongle With New iPhones

    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.
    Six People Dead After Shooting In Bakersfield

    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.
    'Diablo III' Invades 'Overwatch' With New Exclusive Sombra Skin

    'Diablo III' Invades 'Overwatch' With New Exclusive Sombra Skin

    Except you'll be able to get your hands on some of that content eventually, whether or not you buy into the virtual ticket. An Overwatch player on Reddit spotted the skin in-game and took a bunch of screenshots showing off the Demon Hunter skin.
  • Give Rashford time to shine, insists Southgate

    Give Rashford time to shine, insists Southgate

    He had left [Riyad] Mahrez out of the team, so he needed to get him on because he [Mahrez] is still adapting to the way of playing.
    Cuomo campaign pins blame for Cynthia Nixon flyer on staffer

    Cuomo campaign pins blame for Cynthia Nixon flyer on staffer

    The Snatched star also revealed that she will be voting for Zephyr Teachout for Attorney General of NY and Jumaane D. Not only does he need to win big, but his lieutenant governor, Kathy Hochul, is facing a tight race.
    Novelist charged with killing husband

    Novelist charged with killing husband

    In 2012, Crampton-Brophy told the Romancing the Genres blog what attracted her to romantic suspense stories. Nancy Crampton Brophy , 68, was arrested last week and charged with murder and unlawful use of a weapon.


Most liked

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.

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
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 .

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 .

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.

'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.

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 .

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.

Cancer will kill almost 10 million people in 2018, researchers estimate
The rise, from 14.1 million cases and 8.2 million deaths in 2012 , is partly due to a growing and ageing population. They say because of this countries need to consider tailoring how they try to prevent and treat cancer.

Toby Alderweireld: 'I never wanted to leave Tottenham Hotspur for Man Utd'
The Belgian worldwide has iterated that he never wanted to leave Tottenham , and that the rumours suggesting the same were untrue. Alderweireld and Tottenham are back in Premier League action this Saturday when they welcome Liverpool to Wembley.

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.