China confirms trade talks with USA beginning Monday

China confirms trade talks with USA beginning Monday

In theory, this should reduce China's trade surplus with the states. Trump has also threatened to impose duties on $267 billion more of goods if Beijing does not meet his demands. The longer their trade war lasts, the longer companies and consumers will feel the pain of higher-priced imports and exports. "I think there are a heck of a lot of USA companies that have a lot of sales in China that are basically going to be watching their earnings be downgraded next year until you know we get a deal with China". And it puts us in a very strong position.

He campaigned on a pledge to make trade fairer for the USA and to help American manufacturers. "Now, the question is can we negotiate these changes and can we do so with enforcement (and) with timetables".

President Trump initiated the trade war over complaints of unfair Chinese trading practices.

Negotiations between the two nations are expected to resume next week.

The ministry said in a statement that vice minister-level officials from the two countries spoke on the phone and decided on the trip that aims to pick up on the consensus reached by the leaders in Argentina last month.

In addition to Gerrish, the official delegation will also include David Malpass, the Treasury Department's undersecretary for global affairs.

The world is watching anxiously.

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Word of the meeting next Monday and Tuesday follows small signs of progress, and the absence of new threats from Mr Trump, while the two sides work to ease trade tension by 1 March. That makes their dispute "a matter not only for the two countries but for the world", he added. It's fundamentally a high-stakes conflict over the economy of the future.

Deputy US trade representative Jeffrey Gerrish will lead the American delegation, China's Ministry of Commerce said.

China and the United States have been engaged in a trade war since Trump announced in June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit. Analysts have warned of such a risk to USA firms as China is increasingly unable to match US measures on a dollar-for-dollar basis. China's Shanghai Composite and Hong Kong's Hang Seng Index were both up about 2%.

The U.S. Federal Reserve's interest rate increases have caused investors to move in and out of various markets, hitting some emerging markets hard. Fears are growing that the second-longest economic expansion in US history could slide to a halt next year or in 2020. For the 2018 full year, Apple shares fell 7 percent, though they are up about 24 percent since Trump took office in January 2017. But heavy government spending masked weakness in private-sector activity. Output at Chinese factories shrank in December for the first time in two years.

Auto sales in China plunged 16 per cent in November from a year earlier. Hassett says that Apple and other USA companies operating in China, will see their business return in the country if the US can have a successful negotiation with China. Those ambitions cut to the heart to China's drive to become the world's 21st century economic superpower.

United States firms that rely on Chinese consumers have also been impacted by the country´s economic slowdown.

As Chinese tariffs take a bigger bite out of profits, US manufacturers with operations there are scrambling to find alternatives. Both countries chose to suspend imposition of new tariffs on each other for the next 90 days and implement consensus that were reached between both presidents during the G20 meeting earlier this month.

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