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

Postado Setembro 13, 2018

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.

Trump said there was more pressure on China to make a deal, pointing to their shrinking economy.

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.

His first round of tariffs this summer hit US$50 billion in Chinese products like high-end technology parts and manufactured goods, while Beijing fired back dollar-for-dollar at United States soybeans, autos and other farm goods.

U.S. companies in China say they are already feeling the pain from the trade war.

"There's some discussions and information that we received that the Chinese government - the top of the Chinese government wished to pursue talks", Kudlow told Fox Business Network on Wednesday.

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

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.

"The White House has threatened to fire the next barrage of tariffs at $200 billion more Chinese goods, expecting with this onslaught, or subsequent ones, China will wave a white flag", he said.

China has threatened retaliation, which could include action against USA companies operating there.

About 30 per cent said they were adjusting supply chains by seeking to source components and/or assembly outside the US, and about the same number were seeking to source components and/or assembly outside China.

The last talks, between mid-level United States and Chinese officials on 22 and 23 August, failed to reach any agreement.

Such a meeting could take place in Washington or Beijing, though the timing is unclear, according to informed sources.

More than 60 per cent of USA companies polled said the US tariffs were already affecting their business operations, while a similar percentage said tariffs by China on US goods were having an effect on business.

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.

A day earlier, more than 60 USA industry groups launched a coalition - Americans for Free Trade - to take the fight against the tariffs public. "By doing so, they can both ease the anxiety of American society and gradually collapse the will of the Chinese side", the newspaper said in an editorial on Thursday.