Sino-US trade talks to be held in China next week: Beijing

US manufacturers say Trump tariffs will bring higher prices, not more jobs

US manufacturers say Trump tariffs will bring higher prices, not more jobs

The US and China's trade talks will attempt to end disputes between the two countries, which have been causing volatility in global financial markets.

Tensions between Beijing and Washington soared in 2018 over trade disputes, although US President has frozen the latest planned tariff hike and on Saturday reported "big progress" after a call with his counterpart.

Washington and Beijing imposed tit-for-tat tariffs on more than $300 billion worth of goods in total two-way trade past year, locking them in a conflict that has begun to eat into profits and contributed to stock market plunges.

A sharp drop in Chinese economic growth will hit the profits of USA firms but sales by Apple Inc and other American companies should recover once Washington strikes a trade deal with Beijing, a senior White House adviser said on Thursday. In the meantime we are doing well in various Trade Negotiations now going on.

A U.S. government delegation will visit China Monday and Tuesday for the first face-to-face talks since President Donald Trump and his Chinese counterpart agreed on a temporary truce in the trade war, China's commerce ministry said.

Data this week pointed to signs of strain in the U.S. and China at the end of past year.

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He campaigned on a pledge to make trade fairer for the United States and to help American manufacturers. "And if we don't, they're paying us tens of billions of dollars worth of tariffs - not the worst thing in the world". Apple plunged the most since 2013 in part due to slowing iPhone sales in China, where the economy has slowed.

On December 1 the two leaders agreed to complete talks about technology, intellectual property and cyber theft issues within 90 days, and hold off on new tariffs in the meantime.

The presidents of China and the U.S. have exchanged messages vowing to boost cooperation despite a bruising trade war on the 40th anniversary of the countries' diplomatic relations, Chinese state media reported.

The president downplayed the effects of the economic woes on US technology giant Apple Inc, which this week blamed slowing iPhone sales in China for a rare reduction in its quarterly sales forecast. They complain China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged.

USTR said the U.S. delegation would also include under secretaries from the U.S. Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from those agencies and the White House.

Despite the December truce, "most firms expect trade war to escalate", the report said.

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