United States team to visit China for trade talks next week

US manufacturers say Trump tariffs will bring higher prices, not more jobs

US manufacturers say Trump tariffs will bring higher prices, not more jobs

Gao Feng, a spokesman for China's Commerce Ministry, said last week that the two sides have "made specific arrangements for face-to-face meetings" and are talking by phone.

The U.S. accuses China of deploying predatory tactics in a drive to surpass America's technological supremacy.

Trump and Xi agreed to postpone additional tariff hikes for 90 days, but economists say that is too little time to resolve their sprawling dispute.

Since the Xi-Trump meeting, China has adopted several goodwill measures including cutting tariffs on vehicles imported from the USA, resuming the purchase of soya beans from the country and submitting a draft law to prohibit forced technology transfers.

"We have a massive trade negotiation going on with China". The longer their trade war lasts, the longer companies and consumers will feel the pain of higher-priced imports and exports.

"That puts a lot of pressure on China to make a deal", he said.

Now China and the United States face a March deadline for talks to end the damaging trade war, or Washington could proceed with a sharp hike in USA tariffs and Beijing could retaliate.

Lighthizer opposed China's entry into the World Trade Organisation in the 1990s and more recently was a driving force behind Trump's decision to impose tariffs on roughly $250 billion worth of Chinese goods. It said the American delegation will be led by the deputy US trade representative, Jeffrey Gerrish, but offered no other details.

But aside from products facing earlier tariffs - including washing machines, solar panels and metals - Chinese exports to the United States have held up better than expected.

Chinese economic growth fell to a post-global crisis of 6.5 percent in the quarter ending in September.

On top of concerns about collateral damage from the U.S.

The U.S. manufacturing sector has begun to slow, and the Institute of Supply Management's survey of corporate purchasing managers on Monday showed the largest monthly decline since the depths of the recession in December 2008. Auto sales tumbled 16 percent in November over a year earlier and weak real estate sales are forcing developers to cut prices.

In the same year, late paramount leader, often credited with China's "Reform and Opening" policy which led to its economic transformation, met USA president in the United States.

Wendy Cutler, a former USA trade negotiator, said the US likely can't realistically settle for anything less than an agreement by Beijing to reform how it does business.

Both governments face economic pressure to reach a settlement.

"We know what sort of changes we need", White House economic adviser Larry Kudlow said in an interview with Fox Business on Friday. "However, these reasons can only take you so far..."

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.