Major U.S. trade groups link up in anti-tariff coalition

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

Trump appeared nonchalant about whether China met with his trade representatives to make a deal. Treasury yields jumped. Offshore, the Chinese yuan sank 0.36% against the dollar.

The two governments have imposed 25 percent tariffs on $50 billion of each other's goods.

But Larry Kudlow, head of the White House Economic Council, said Wednesday on the Fox Business Network that Treasury Secretary Steven Mnuchin had invited senior Chinese officials to rekindle the talks.

If the United States imposed new levies on Chinese imports then Beijing "will not hesitate to take countermeasures against U.S. tariffs to safeguard China's interests", it added.

"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".

"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.

Zheng expressed support for Trump's wider aim of levelling the playing field between the USA and China, and addressing "long-standing inequities".

Just six percent, meanwhile, said they would consider moving factories to US soil.

Half the respondents reported they had endured more inspections, delayed customs clearance and other forms of heightened regulatory scrutiny. "AmCham China and AmCham Shanghai urge both governments to return to the negotiating table".

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It resulted, however, in Americans for decades missing out on innovations from European truck makers and paying higher prices for US pickups and sport utility vehicles, said Mark J. Perry, an economist at the American Enterprise Institute.

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. They said almost one-third are thinking about canceling or postponing investment decisions.

In the ongoing trade dispute between the USA and China, perhaps no companies are more affected than American automakers that are manufacturing their cars in China.

Also Thursday, the European Union Chamber of Commerce in China said one in six of its members that responded to a survey are delaying investment or expansion.

They are already affecting companies, particularly the automobile industry, and hurting economies.

President Donald Trump has criticized China's record trade surplus with the United States, and has demanded that Beijing cut it immediately, threatening further tariffs on an additional $200-billion worth of goods - and possibly more.

About 30% of firms said they were shifting parts of their supply chains away from China and the United States to buy components from other places.

Chinese funded publications and news agencies around the world continue to insist that the trade war's impact on the Chinese market is insignificant, but the numbers and the statements of China's leadership tell a different tale.

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