China will not "surrender" to U.S. demands in trade talks

China said the'escalation of the trade conflict is not in the interest of either party'More

U.S. President Donald Trump said last week that in addition to preparing tariffs on the further $200 billion worth of goods, he had tariffs on an additional $267 billion worth of goods ready "on short notice if I want".

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

China has threatened retaliation, which could include action against US companies operating there. "If we meet, we meet?" "Now the two sides are in communication on relevant details". In China, the yuan jumped and stocks rose.

"We support President Trump's efforts to reset U.S".

It also showed looming tariffs on US$200-billion of Chinese goods is expected to expand the pain to three-quarters of firms.

Both countries are set to return to the table with the threat of new United States tariffs looming.

Trump and his advisers have argued that the tariffs are necessary to pressure Beijing to abandon unfair practices.

The chairman of the American Chamber of Commerce in China warned the Trump administration might be underestimating China's resolve to fight back.

His comment tempered cautious optimism among investors over the USA government's proposal for another round of talks with Beijing.

Before his meeting on Thursday, Trump boasted on Twitter that he has the upper hand in the trade feud with Beijing and feels "no pressure" to resolve the dispute. It said the conflict is "causing significant disruptions to global supply chains".

Farmers felt the pain when China targeted them with retaliatory tariffs, cutting off a major market for USA agriculture exports.

Businesses remained optimistic about near-term prospects, but worries about trade prompted some to scale back or postpone capital investment plans, according to the Fed's survey, known as the Beige Book, released Wednesday.

Another business group, the U.S.

"There seem to be domestic political pressures that are working against the perception of US companies receiving benefits" during trade disputes, Parker told the South China Morning Post.

"This survey affirms our concerns: tariffs are already negatively impacting USA companies and the imposition of a proposed $200-billion tranche will bring a lot more pain", said Eric Zheng, chairman of AmCham Shanghai.

"With the $200 billion round of tariffs looming, this is probably the best time for the United States to go back to the table with a "take it or leave it" type of trade demand", Robert Carnell, the chief Asia-Pacific economist at investment bank ING, said in a note.

Zoom out from the automotive sector, and more than 60% of American companies in China said they have been affected by the tit-for-tat spat.

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

Roughly a third of firms are shifting supply chains out of China, or the United States, and an equal proportion are delaying or cancelling investment decisions, the survey showed.

The Trump administration this month introduced $12 billion in programs to bail out farmers caught in the trade war and help them find new markets.

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