Running Out of Tariff Options, China Takes Aim at American Companies

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

"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 USA negotiators have authority to speak for the president", the original report said.

A huge market slump before the mid-term elections could not be great for the Republicans and a bad result could leave Donald as a lame duck President, though he still would be able to keep hitting China and others with trade sanctions, as this power actually rests with the President!

The United States bought $505 billion in goods from China a year ago, and Trump has already moved to impose tariffs on $50 billion of those goods as a way to try to force concessions from the Chinese government. Beebe said that could be the consequences of price increases or the psychology around how people make purchasing decisions. More than half of United States firms are already feeling Beijing's wrath from non-tariff measures like heightened regulatory scrutiny, more inspections and slower customs clearance, according to the survey. "AmCham China and AmCham Shanghai urge both governments to return to the negotiating table".

The Trump administration's tariffs have had a tiny impact on the economy, shaving about 0.1 percent, or $18 billion, off the United States' more than $18 trillion gross domestic product, according to an analysis by the left-leaning Economic Policy Institute.

Beijing has issued a list of $60 billion of American products for retaliation if Trump's next tariff hike goes ahead.

The White House is under enormous pressure from U.S. companies to resolve its differences with China swiftly before either country imposes more tariffs or restrictions that these firms argue could hurt growth and lead to lost American jobs. It was unclear whether any US-China talks would delay the duties.

Businesses remained optimistic about near-term prospects, but worries about trade prompted some to scale back or postpone capital investment plans, according to the Fed's survey, known as the Beige Book, released Wednesday.

Obama rebukes Trump's 'radical' politics of 'fear'
But, Obama added, when there is a vacuum in democracy, "other voices fill the void". "That is not a check", Obama said. The former president said he rejects the politics of fear and division and said all people deserve equal treatment.

Zoom out from the automotive sector, and more than 60% of American companies in China said they have been affected by the tit-for-tat spat.

More than 60% of USA companies polled said the US tariffs were already affecting their business operations, while a similar percentage said Chinese duties on US goods were having an impact on business.

"The Chinese side believes that the escalation of the trade conflict is not in the interest of either party", commerce ministry spokesman Gao Feng told reporters at a regular news briefing.

Some 52.1 percent of companies said Chinese authorities are slowing customs clearances, increasing inspections or imposing other "qualitative measures".

Top White House advisers have largely agreed that changes need to be made to rebalance the United States' economic relationship with China, but they have differed on the tactics. The Chinese government has dismissed the complaints as "groundless".

Trump appeared nonchalant about whether China met with his trade representatives to make a deal.

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