Donald Trump: China 'Under Pressure' to Make a Deal with United States

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The Trump administration had invited Chinese officials to restart trade talks, the White House's top economic adviser said on Wednesday, news that gave a lift to Asian stocks, including Chinese shares and the yuan currency.

"Our markets are surging, theirs are collapsing", he wrote.

Trump imposed his first phase of tariffs this summer on $50 billion of Chinese goods, including high-end technology parts and manufactured goods, while Beijing fired back dollar-for-dollar at U.S. soybeans, autos and other farm goods.

"If we meet, we meet?" he said.

The possibility of new talks comes as China is wary of the "very painful" impact of additional U.S. tariffs given its economic slowdown, with its gross domestic product at the lower end of its growth range for the past three years.

In Washington, White House economic advisor Larry Kudlow sounded a cautious note about the possible outcome of talks.

It is also important to note that things are only getting started in the trade conflict, and unless China is willing to make some major concessions, and soon, then the world is likely to witness a protracted conflict lasting years. "In fact, from last month's preliminary talks in Washington, the two sides' trade talk teams have maintained various forms of contact, and held discussions on the concerns of each side", he said.

According to many recent reports, Taiwanese companies are already beginning to shy away from the Chinese market because of the likelihood that their products manufactured in China will be targeted by the Trump administration.

The U.S. administration is readying a final list of $200 billion in Chinese imports on which it plans to levy tariffs of 10-25 percent in coming days, which would ramp up the trade war between the world's two largest economies.

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But Kudlow was non-committal over the chances of a breakthrough, adding: "I guarantee nothing". Mid-level US and Chinese officials held inconclusive talks on Aug 22 and 23.

Trump said there was more pressure on China to make a deal, pointing to their shrinking economy.

The Trump administration is poised to hit China, America's largest trading partner, with another $200 billion in tariffs.

To avoid the tariffs, 30 percent of US companies are looking at moving assembly out of the United States or China or finding new suppliers, the chambers said.

Later on Thursday, China's foreign ministry welcomed the offer of talks and said the two countries were discussing details.

The invitation was first reported by the Wall Street Journal.

"This survey affirms our concerns: tariffs are already negatively impacting US companies and the imposition of a proposed $200 billion tranche will bring a lot more pain", said AmCham Shanghai chairman Eric Zheng.

Some 63.6 percent of more than 430 companies that responded to the American chambers' survey said profits and customer demand have fallen due to the US tariffs and 62.5 percent said the same about retaliatory Chinese tariffs. "AmCham China and AmCham Shanghai urge both governments to return to the negotiating table".

The European Union Chamber of Commerce in China released its own survey on Thursday saying the tariffs were causing "significant disruptions" to global supply chains and "seriously impacting" non-Chinese and non-American companies.

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