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

U.S. President Donald Trump holds an Oval Office meeting on preparations for hurricane Florence at the White House in Washington

China's stock market slumped to a 31 month low on Wednesday, Sept. 12.

US President Donald Trump said last week that in addition to preparing tariffs on the further US$200 billion worth of goods, he had tariffs on an additional US$267 billion worth of goods ready "on short notice if I want".

The United States and China have imposed tariffs on $50-billion of each other's goods since July as trade frictions between the world's two biggest economies worsened, despite several rounds of negotiations.

Officials from both countries have met four times for formal talks, most recently in August, when Treasury's undersecretary for global affairs, David Malpass, led discussions in Washington with Chinese Vice Minister Wang Shouwen.

Sixty-four percent of companies that responded to the AmCham survey, which was conducted between August 29 and September 5, said the first round of tariffs that Trump slapped on $50 billion in Chinese imports this year have negatively affected their operations, while 63 percent said the same about the equal amount of duties Beijing imposed in retaliation.

A survey from AmCham China and AmCham Shanghai found that almost two-thirds of more than 430 US firms in China say the tariffs Trump placed on billions of dollars of Chinese goods this summer have hurt their businesses.

"The Trump administration should not be mistaken that China will surrender to the USA demands".

More than half of firms say they are already feeling Beijing's wrath, with 27% reporting increased inspections, 19% feeling heightened regulatory scrutiny and 23% witnessing slower customs clearance.

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Zheng expressed support for Trump's wider aim of levelling the playing field between the US and China, and addressing "long-standing inequities".

News of the invite comes as it emerged Thursday that United States firms in China are beginning to feel the pinch of tariffs already imposed on the Asian giant.

The Trump administration is preparing to activate tariffs on US$200 billion worth of Chinese goods, hitting a broad array of internet technology products and consumer goods from handbags to bicycles to furniture.

William Zarit, the chairman of the American Chamber of Commerce in China, warned the Trump administration against assuming those difficulties will force Beijing to cave in to its demands.

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

More than 60 per cent of U.S. companies polled said the United States tariffs were already affecting their business operations, while a similar percentage said Chinese duties on USA goods were having an impact on business. A similar amount said they were delaying investment decisions because of the trade tensions.

China accuses the USA of launching "the largest trade war in economic history" and has retaliated in kind.

The survey released Thursday by the European Union Chamber of Commerce in China polled almost 200 European firms doing business in China and found 17% are delaying investment or expansion plans. The White House has accused China of forcing US companies to partner with local firms and then stealing their intellectual property, among other grievances.

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