US companies in China are ‘suffering’ in trade war, survey says

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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".

China's stock market slumped to a 31 month low on Wednesday, Sept. 12.

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

US Treasury Secretary Steven Mnuchin recently sent an invitation to Chinese officials proposing a bilateral meeting at ministerial level, the daily reported.

So far, the United States and China have hit US$50 billion worth of each other's goods with tariffs in a dispute over U.S. 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.

China has also warned it could unleash "qualitative" measures, which US business groups have interpreted as more burdensome regulations, stalled visas and other red-tape headaches.


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

In the case of the Trump administration's trade tensions with China, the US clearly has an edge when it comes to imposing tariffs.

His remarks come as China and the United States may return to the negotiating table with the threat of new USA tariffs looming.

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

William Zarit, the chairman of the American Chamber of Commerce in China, warned the Trump administration against assuming those difficulties will force Beijing to cave in to its demands.

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.


President Donald Trump said on Twitter on Thursday that the United States holds the upper hand in talks.

He vowed last week to increase tariffs to hit an additional US$200 billion in Chinese imports "very soon" unless China agreed to steps that would reduce its massive trade surplus.

Some 63.6 percent of more than 430 companies that responded to the American chambers' survey said profits and customer demand have fallen due to the US tariffs and 62.5 percent said the same about retaliatory Chinese tariffs.

The unpredictability around the trade fight is hampering investment decisions as investors need stability to make sound decisions, Beebe said.

But speaking late on Thursday to reporters after meeting French Foreign Minister Jean-Yves Le Drian, Chinese State Councillor Wang Yi said some reforms could be good.

One of the highest-profile casualties of the trade war was USA 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.


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.

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