United States businesses to lobby against Trump's tariffs

President Donald Trump holds an Oval Office meeting at the White House on Sept. 11 2018. LEAH MILLIS  Reuters

On Thursday, spot gold prices decreased by 0.39 percent to end the day at $1200.7 amid increasing trade war concerns and looming United States interest rate hikes.

If another US$267 billion worth of Chinese goods are targeted by the USA before the year's end, it would amount to essentially the entire annual volume of goods imported from China.

China has also warned it could unleash "qualitative" measures, which US business groups have interpreted as more burdensome regulations, stalled visas and other red-tape headaches. The move comes just as Bloomberg reports the White House is proposing a new round of trade talks with China, after the previous four attempts faltered.

"That's not good for the world".

"There's some discussions and information that we received that the Chinese government - the top of the Chinese government wished to pursue talks", Mr Kudlow said.

Forecasters have warned that the worsening conflict between the world's two biggest traders could cut up to 0.5 percentage point off global economic growth through 2020 if all threatened tariff hikes go ahead.

"We share the concerns of the United States regarding China's trade and investment practices, but continuing along the path of tariff escalation is extremely unsafe", warned Harborn.

"We share the concerns of the USA regarding China's trade and investment practices, but continuing along the path of tariff escalation is extremely risky", the European chamber president, Mats Harborn, said in a statement.

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.

Trump imposed his first phase of tariffs this summer on $50 billion of Chinese goods, including high-end technology parts and manufactured goods, while Beijing fired back dollar-for-dollar at USA soybeans, autos and other farm goods. It was unclear whether any U.S. That prompted worries it would use regulatory controls to disrupt US business operations in China. Does anybody think that is FAIR?

Another business group, the U.S.

Americans for Free Trade, a group of more than 80 associations, said it represents thousands of businesses and workers. While some issues that have been raised are worth looking into, calling out China in public can't resolve them, said Gutierrez.

"I think the talks have the potential to be successful, but it depends on the approach that both countries take", she said. "We're talking about sovereign countries, not businesses, and to put China in a position of publicly being called out and potentially publicly humiliated, publicly losing face, that can't succeed", he said.

Asked if the Trump administration would like to have additional trade talks with China, Mr Kudlow said: "If they come to the table in a serious way to generate some positive results, yes, of course".

One of the highest-profile casualties of the trade war was USA chipmaker Qualcomm's (QCOM) $44 billion acquisition of Dutch rival NXP Semiconductors (NXPI), which China killed in July by refusing to grant it regulatory approval.

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