U.S. ready for China trade deal when Beijing is 'serious'; Kudlow

Daniel Fowler
September 18, 2018

Beijing has said it would retaliate to trade war escalation with tariffs of its own as well as qualitative measures, which it has not specified but are perceived within the USA business community as likely to include increased customs and regulatory scrutiny.

"There are quite a few names that are sitting on long butterfly positions, so they'll make money if it (the Canadian dollar) moves up or down", said Simon Côté, managing director, risk management solutions, National Bank Financial.

China's Foreign Ministry reiterated that the escalation of the trade conflict was not in anyone's interest.

In a tweet Monday, the president said billions of dollars and jobs have been pouring into the U.S.as a result and increased costs have been essentially unnoticeable.

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

The move, which had been expected since at least the weekend, imposes 10 percent tariffs on the products. "We are looking forward to a more lovely counterattack that will make American pain worse".

Chinese officials have acknowledged the invitation but are reportedly considering not attending proposed meetings in Washington, D.C. if the US moves ahead with the new tariffs.

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"We have always stated that negotiations on the basis of equality, honesty and mutual respect represent the only right way out of the current trade issue between China and the U.S.", said Geng.

Earlier Monday, White House chief economic adviser Larry Kudlow said at the Economic Club of New York, "We are ready to negotiate and talk with China any time that they are ready for serious and substantive negotiations" to reduce trade barriers.

China has threatened to retaliate and pull out of negotiations if that happens.

The Chinese government's top diplomat, State Councillor Wang Yi, will visit NY this week for the annual United Nations General Assembly, Beijing announced on Monday.

The Trump administration also threatened to pursue additional tariffs on $267 billion worth of Chinese goods if Beijing retaliates against farmers or other USA industries.

Speaking Sunday at an economics forum, Lou said Beijing should disrupt supply chains of American companies that rely on China's vast manufacturing industries, the website Sina.com reported.

Trump didn't otherwise elaborate on the announcement, which he described after complaining about the US trade deficit with China. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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