Published: Fri, August 24, 2018
Global News | By Blake Casey

U.S. businesses urge Trump not to slap duties on more Chinese goods

U.S. businesses urge Trump not to slap duties on more Chinese goods

U.S. trade officials are set to hold talks on Wednesday with Chinese and Mexican negotiators, fueling cautious optimism that further confrontations might be averted even as a new round of tariffs is about to hit.

US Treasury's David Malpass, undersecretary for global affairs, is leading two days of talks with China's Vice Commerce Minister Wang Shouwen and Vice Finance Minister Liao Min that began Wednesday.

Trump said in an interview with Reuters on Monday that he was "not thrilled" with the Fed under his appointee Chairman Jerome Powell for raising rates, and said the us central bank should do more to boost the economy.

The top USA business lobbying group said the Trump administration lacks a "coherent strategy" to address China's theft of intellectual property and other harmful trade practices and called for "serious discussions" with Beijing.

"In order for us to get a positive result out of these engagements, it's really critical that they (China) address the fundamental concerns that we have raised", the official said on a press call on the new USA security review law for foreign acquisitions.

Trump said he was "not thrilled" with the Fed under his appointee Chairman Jerome Powell for raising rates, and said the USA central bank should do more to boost the economy.

A foreign ministry spokesman, Lu Kang, declined to give details of the Washington talks.

"While it may be possible for the secretary of the Treasury and his staff to negotiate an agreement, the tools are on the trade side", Hunter said. "If you want to seriously talk for a good outcome then you should do so earnestly, there's no need to speak out loudly", he told a daily news briefing.

The latest action by the USTR comes close on the heels of tariffs imposed on $50 billion worth of Chinese imports.

Trump administration officials have been divided over how hard to press Beijing, but the White House appears to believe it is winning the trade war as China's economy slows and its stock markets tumble.

Seattle air quality on verge of major shift - back to normal
With this will also come a chance of rain showers, but not in any amounts significant enough to affect the wildfires. Seattle's Space Needle was swathed in haze on Monday, and it was impossible to see nearby mountains.


With no settlement in sight, economists warn the conflict could spread and knock up to 0.5 percentage points off global economic growth through 2020.

"It's good that they're talking because not talking isn't solving the issues and is only leading to more tariffs", she said.

FILE PHOTO: Containers are seen at the Yangshan Deep Water Port in Shanghai, China April 24, 2018.

China has accused the United States of starting the "largest trade war in economic history".

The president told Reuters Monday that he didn't "anticipate much" from the talks.

Westinghouse Electric, the leading United States nuclear fuel producer, said it relies on China for zirconium and zirconium powders - key inputs for tubes used in nuclear fuel assemblies that it uses at plants in Utah, Pennsylvania and SC.

His attitude is reflective of his administration's belief that time is on the side of the United States in this worldwide game of trade chicken.

From iconic Harley Davidson motorcycles and American bourbon to machinery and computer processors, the world's two largest economies have exchanged punitive tariffs that slice through a wide swath of key products.

China said it hopes for quiet, steady talks to get "a good result on the basis of equality, parity and trust", according to Reuters.

President Donald Trump has threatened to put duties on nearly all of the more than $500 billion of Chinese goods exported to the United States annually unless Beijing agrees to sweeping changes to its intellectual property practices, industrial subsidy programs and tariff structures, and buys more us goods.

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