China will not "surrender" to United States demands in trade talks

China will not

In its editorial, the paper draws attention to China's bid to seek approval from World Trade Organisation to impose sanctions on United states, over threats to impose hefty tariffs by Washington.

Officials are reportedly still working on the final list of products.

He also made it clear he was ready to impose tariffs worth $200 billion on goods "very soon" if President Xin Jinping's government refused to back down.

One researcher at Taiwan's Chung-Hua Institution for Economic Research, Roy Chun Lee says that "the historical example of the U.S. -Japan economic conflict suggests that the U.S".

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. Financial markets have been whipsawed this week by conflicting reports on the status of trade talks between the world's two largest economies.

Trump instructed aides on Thursday to proceed with tariffs on about $200 billion more in Chinese products despite his Treasury secretary's attempt to restart talks with Beijing to resolve the trade war, according to four people familiar with the matter.

"If nearly a half of American companies anticipate a strong negative impact from the next round of US tariffs, then the USA administration will be hurting the companies it should be helping", he said.

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The White House is under enormous pressure from United States companies to resolve its differences with China swiftly before either country imposes more tariffs or restrictions that these firms argue could hurt growth and lead to lost American jobs.

The US President Donald Trump said Washington is under "no pressure" to achieve a trade deal with China as the prospect of new tariffs loom. -China trade relations, address long-standing inequities and level the playing field.

The sides have been engaged in an escalating tit-for-tat trade fight for months but on Wednesday it emerged that US Treasury Secretary Steven Mnuchin had invited top Chinese officials to discuss the issue.

"The Trump administration should not be mistaken that China will surrender to the USA demands". More than half of United States firms are already feeling Beijing's wrath from non-tariff measures like heightened regulatory scrutiny, more inspections and slower customs clearance, according to the survey.

Meanwhile, almost a third of companies said they were considering delaying or canceling investments, underscoring the heightened uncertainty created by the trade tensions.

It remains unclear when the new import taxes - which could be as high as 25% - will go into effect.

"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. The Chinese government has dismissed the complaints as "groundless".

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