China To Trump: Let's Talk With A 'Calm Attitude'

Donald Trump claimed China called U.S. officials to restart trade talks. No such call happened, report states

The president also announced August 23 that in addition to the increased September 1 tariffs, "Starting on October 1st, the [$] 250 BILLION of goods and products from China, now being taxed at 25%, will be taxed at 30%".

The fresh month itself may offer little respite from the trade rhetoric with the next juncture for additional tariffs expected to strike on October 1 which will also be China's National Day, Ms Pan said.

China and the United States will start forcing extra taxes on one another's products on Sunday, the most recent acceleration in a wounding exchange war in spite of signs talks would continue at some point this month.

Hundreds of retailers, footwear companies and business groups urged Trump to scrap the proposed tariffs, warning they would jack up consumer prices and trigger job losses. Some businesses, though, may decide to absorb the higher costs.

A separate batch of about US$160 billion in Chinese goods - including laptops and mobile phones - will be hit with 15 per cent tariffs on Dec 15.

Last Friday, China was forced to take a necessary countermeasure to have some products from the United States targeted for new additional tariffs, he said.

US Secretary of the Treasury Steven Mnuchin said that US trade officials expect Chinese negotiators to visit Washington, but would not say whether a previously planned meeting next month would take place. "Unfortunately, he's done it the wrong way", AFL-CIO President Richard Trumka said on "Fox News Sunday".

USA markets were shut for a holiday on Monday. He said he hopes that's what Trump's focus is, "not just the fact that Chinese clothing and shoes are popular among consumers".

The non-partisan Congressional Budget Office in August projected that by 2020, Trump's tariffs and trade war will reduce the level of real US GDP by about 0.3 per cent and reduce average real household income by US$580.

Beijing has imposed extra tariffs on a number of the United States items which can be listed on its $75 billion goal checklist. ".and who can really blame them for doing that?" " he said. "This is about American Freedom".

There has to be an "multilateral approach" when taking on China's trade practices, Trumka said.

The glaring signal of impending trouble came from Germany where the economy shrank by 0.1 per cent in the second quarter as troubles in the auto industry held back the largest member of the 19-country Euro currency union.

A J.P. Morgan study found that Trump's tariffs will cost the average U.S. household $1,000 a year. That study was done before Trump raised the September 1 and December 15 tariffs to 15 percent from 10 percent. "When more and more Americans feel the pain, maybe it will be time for Washington to recover rationality". Companies have already reduced investment spending, and exports have dropped.

"China's booming economy has made China a fertile ground for investment that foreign companies can not ignore", it said, in a commentary under the name 'Zhong Sheng, ' or 'Voice of China, ' which is often used to state its view on foreign policy issues.

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