China won't just play defence in trade war, Global Times says

"Tariffs have put the USA in a very strong bargaining position, with Billions of Dollars, and Jobs, flowing into our Country - and yet cost increases have thus far been nearly unnoticeable", Trump said on Twitter.

Also Monday, an official newspaper called for more aggressive measures to "make American pain worse" following tariff hikes by both sides on $50 billion of each other's goods.

However, the Chinese could well reject the talks if additional tariffs, as Trump has threatened, go into effect, The Wall Street Journal reported over the weekend.

Economists at UBS Group AG say even a 10 percent tariff would slow the US economy in the fourth quarter by enough to stop the Federal Reserve hiking interest rates again in December, Bloomberg reported. American officials say those violate Beijing's market-opening commitments and worry they might erode US industrial leadership.

The new round of taxes are jeopardizing talks led by Treasury Secretary Steve Mnuchin with Chinese officials to end the cycle of tit-for-tat tariffs.

The consequences of a simmering global trade dispute have been "almost unnoticeable" for United States consumers, Mr Trump claimed, arguing that steep import duties have allowed his administration to forge a "very strong bargaining position".

China's "counterattack strategy needs to restrict exports to the United States as well as (imports of) USA goods", Lou was paraphrased as saying.

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Distance Beijing Heaping more duties on Chinese goods will only further distance Beijing from resolving the conflict through a negotiated solution, said one of the people.

The report quoted one senior Chinese official saying the country would not negotiate "with a gun pointed to its head".

China has not publicly committed to join a new round of negotiations, but in the past it has pulled back from the prospect of talks in the face of escalations in the dispute.

China "wants to make a deal" on trade, Mr. Trump told reporters, adding that "a lot of money" is about to come back "into the coffers" of the U.S.

Trump didn't otherwise elaborate on the announcement, which he described after complaining about the USA trade deficit with China. He is a former chairman of China's sovereign wealth fund, the China Investment Corp. But 2018 imports from China through July were up almost 9 percent over the same period of 2017, according to U.S. Census Bureau data.

"I would encourage the national governments to resolve it as quickly as possible, because it's a concern for all". The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. 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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