China will not "surrender" to U.S. demands in trade talks

US President Donald Trump speaks to reporters after signing directives to impose tariffs on imported washing machines and solar panels at the White House in Washingt

"And the question will be whether or not that leads to more negotiations".

Stocks in Europe rose earlier as prospects for U.S. Oil was poised for a weekly gain as traders keep watch on Hurricane Florence.

It was unclear whether any U.S. American retail sales figures for August showed households took a breather from spending, though the data was still indicative of a strong job market and more after-tax pay.

He said last week that he has an order ready to impose tariffs on another $200 billion in Chinese goods, and then another order ready that would impose tariffs on every product shipped from China to the United States if Beijing doesn't agree to U.S. demands.

Bloomberg News, which first reported the president's decision, said a public order had been delayed as the administration revises the final list of products.

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 past year.

As of June 30, almost 450 entities employed lobbyists on trade issues - up from about 160 at the start of the year and about 100 when Trump took office, according to lobbying-disclosure reports compiled by the nonprofit Center for Responsive Politics.

Trump has already levied duties on $50 billion worth of Chinese goods based on his demands that China reduce its $375 billion trade surplus with the United States and make sweeping changes to policies on intellectual property and technology transfers and roll back high tech industrial subsidies.

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USA companies in China say they are already feeling the pain from the trade war.

China will not buckle to U.S. demands in any trade negotiations, said the state-run China Daily newspaper on Friday, after Chinese officials welcomed an invitation from Washington for a new round of talks. Mid-level USA and Chinese officials held inconclusive talks on Aug 22 and 23.

On Thursday, Trump reportedly met with trade advisors, including Treasury Secretary Steven Mnuchin who is spearheading the effort to jumpstart talks with Beijing, where he indicated that he was not anxious about the impact of tariffs.

A US Treasury spokesman did not respond to requests for comment. Disclosure on Wednesday that the US sought to renew the talks rallied USA stocks and emerging-market assets.

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.

Efforts to end the dispute have fizzled so far.

But Larry Kudlow, head of the White House Economic Council, said Wednesday on the Fox Business Network that Treasury Secretary Steven Mnuchin had invited senior Chinese officials to rekindle the talks.

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