The trade war is already hurting United States companies in China

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A Treasury spokesman did not immediately respond to a query on the status of the China talks invitation.

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. If we meet, we meet?

The Chinese have retaliated with tariffs on an equivalent amount of US exports, and have promised to match future rounds of USA duties.

Adding in the $200 billion list and another $267 billion of Chinese goods, total imports from China facing tariffs would exceed the $505 billion in goods that the United States imported from China a year ago.

"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.

"I always believe, in most cases, talking is better than not talking, so I regard this as a plus, " Kudlow said.

"We share the concerns of the USA regarding China's trade and investment practices, but continuing along the path of tariff escalation is extremely unsafe", the European chamber president, Mats Harborn, said in a statement.

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The U.S. has enjoyed near-record low joblessness and faster economic growth in 2018, while Beijing's economy faces growing long-term concerns, including a sharp decline in the value of its currency.

Washington has invited Beijing to hold new talks on their escalating tariff dispute, the Chinese foreign ministry said Thursday, ahead of a decision by President Donald Trump on whether to raise duties on $200 billion of Chinese imports. The news comes just two days after Treasury Secretary Steven Mnuchin extended an invitation to Chinese officials to restart talks. He also wants a sharp reduction in the $375 billion USA trade deficit with China.

More than 60 per cent of U.S. companies polled said the USA tariffs were already affecting their business operations, while a similar percentage said Chinese duties on United States goods were having an impact on business.

"The question is whether anything has changed, " said Jeff Moon, a former United States trade negotiator in the Obama administration.

AmCham chairman William Zarit said American business leaders in China want Trump to rethink the levies he has proposed on an additional $200 billion in Chinese imports, including many consumer goods. China retaliates with an equivalent set of tariff proposals.

His comment tempered cautious optimism among investors over the US government's proposal for another round of talks with Beijing.

U.S. President Donald Trump has instructed aides to proceed with tariffs on about $200 billion more of Chinese products, a source familiar with the process said on Friday, adding that the timing is not yet clear.

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