Will Trump's trade war give us a happy ending?

US reached out to China for new trade talks, sources say

Last week, Apple sent a letter to the U.S. Trade Representative warning that the Apple Watch, AirPods, HomePod, Mac mini, and Apple Pencil would all be affected by the then-proposed Trump tariffs.

Asian shares advanced on Thursday on hopes that a deal could be struck in the bitter tariff dispute between the world's two largest economies.

Earlier in Vladivostok, Russia on Tuesday, Sept. 11, at the Eastern Economic Forum, Xi Jinping praised China's stable and improving ties with Russia, while both he and Vladimir Putin criticized "protectionist trade policies" without mentioning Trump by name, reports the Guardian.

Top two ranks in the us -imposed tariff list include machinery (82.6 percent) and electronics (81.3 percent), while the corresponding positions in the China-imposed tariff list include agribusiness (88.9 percent) and chemicals (80.8 percent).

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.

President Donald Trump has criticised China's record trade surplus with the United States, and has demanded that Beijing cut it immediately, threatening further tariffs on an additional US$200 million worth of goods - and possibly more.

Chinese Foreign Ministry spokesman Geng Shuang told reporters China had received the invitation and welcomed it, adding that the two countries were in discussion about the details.

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".

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More companies say they will suffer if Trump goes ahead with his planned tariff hike and Beijing retaliates, according to the American Chambers of Commerce in China and in Shanghai. "That's what we've been asking for months and months".

China welcomed on Thursday a USA offer to hold fresh trade talks, adding that the two are discussing the details and providing some hope the world's top economies could step back from the brink of an all-out trade war.

The invitation was first reported by the Wall Street Journal.

However, the last round of talks, between mid-level United States and Chinese officials in August, failed to reach any agreement.

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

"It is hard to see how tariffs that hurt USA companies and US consumers will advance the Government's objectives with respect to China's technology policies", Apple said in its letter.

The negative impact of the tariffs on US firms has been "clear and far-reaching", according to a joint survey by AmCham China and AmCham Shanghai.

But the timing for activating the additional tariffs was unclear, the person said.

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