"We're in a situation where if we don't make headway quickly, people will lose customers and never get that market share back", U.S. Trade Representative Robert Lighthizer said before the U.S. Senate Finance Committee Tuesday.
White House officials declined to go into detail about the preparations or expected outcomes of the talks in Japan, but both sides reiterated long-held positions: USA officials called for structural changes in the Chinese economy and in how Beijing treats US businesses; China called for dialogue instead of expensive tariffs. But he added: "I don't think you have any other option". Trump met with Xi at the previous G-20 in Buenos Aires, Argentina, last December.
It is unclear when the formal U.S.
The meeting will offer the United States and China a chance to step away from the tit-for-tat cycle of retaliation that has been building since trade negotiations broke down in May. "I have a very good relationship with president Xi".
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Trump wrote on Twitter that the two men would have an "extended meeting" in hopes of breaking a deadlock in U.S. The two leaders spoke by telephone on Tuesday. The rift also widened during the trade war that began a year ago when Trump vowed to end a trade imbalance that he said China was "taking advantage of".
Trade talks grinded to a halt last month when Mr Trump accused China of reneging on its promises and raised tariffs on $200bn (£159.2bn) worth of Chinese goods.
Lighthizer pressed senators to take action on the United States-Mexico-Canada Agreement (USCMA) that's meant to replace NAFTA.
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And that adds to its appeal for supporters disaffected from the moneyed elites who run the former British colony, organizers say. She also said she hopes to finish her term, shrugging off calls for her resignation with repeated requests for another chance.
The CEOs of at least five US companies are scheduled to meet Chinese Premier Li Keqiang this week in Beijing, Bloomberg reported on Wednesday, citing people familiar with the matter. The group called on the Trump administration to return to the negotiating table and find a better solution with China.
Trump said the leaders had a "good" conversation, while Xi said the countries have more to gain by cooperating than by engaging in a protracted battle. Lighthizer, an Ashtabula native, predicted the agreement would add over 80,000 U.S.jobs in the auto industry and lead to $33 billion in new investment over 5 years. The S&P 500 rose about 1% in NY. Products entering the US after June 15 are taxed at the 25% rate. -China trade war during a rally in Orlando, Florida.
There was fresh evidence on Wednesday of the disruption in supply chains arising from the U.S.
"Our position continues to be (that) we want structural changes", Kudlow told reporters. The iPhone maker has decided the risks of depending heavily on manufacturing in China are too great and even rising, Nikkei said. The administration provided no details about talks between the negotiating teams. India and Vietnam are among the favorites for smartphones, Nikkei said.
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Beijing has asked the United States to treat Chinese companies fairly, particularly Huawei, a telecommunications company that's been banned by US officials over national security concerns.