United States seeking new trade talks with China

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Beijing "has indeed received an invitation from the USA and holds a welcoming attitude to it", said Gao, noting the "two sides are still communicating on the specific details".

One of the highest-profile casualties of the trade war was U.S. 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.

Watch Alibaba, iQiyi, JD.com, Baidu.com, Pinduoduo, Nio trade in real-time here.

The Trump administration had invited Chinese officials to restart trade talks, the White House's top economic adviser said on Wednesday, news that gave a lift to Asian stocks, including Chinese shares and the yuan currency.

The decision also comes despite a Treasury invitation earlier this week to senior Chinese officials, including Vice Premier Liu He, for more talks to try to resolve trade differences between the world's two largest economies. In previous rounds of anti-China tariffs, it has taken one to two weeks to revise the list and another two to three weeks to begin collecting tariffs.

In recent meetings with cabinet-level Chinese officials, USCBC representatives were told that licensing won't resume "until the trajectory of the U.S".

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A huge market slump before the mid-term elections could not be great for the Republicans and a bad result could leave Donald as a lame duck President, though he still would be able to keep hitting China and others with trade sanctions, as this power actually rests with the President!

Some in the administration are trying to restart talks to defuse the trade war, but Mr Trump said on Thursday the USA is under "no pressure" to strike a deal.

However, Mr Trump has also repeatedly signalled his willingness to impose the new duties, despite warnings from economists and widespread opposition in the United States among the business community.

Beijing has vowed further response if the U.S. imposes new tariffs.

Envoys from the two countries last met August 22 in Washington but reported no progress.

China is clearly under economic duress as its economy slows and the next round of 25 percent tariffs targeting US$200 billion worth of Chinese goods are made ready for launch in Washington.

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The negative impact of the tariffs on U.S. companies has been "clear and far reaching", according to the joint survey by AmCham China and AmCham Shanghai published on Thursday.

A U.S. Treasury spokesman did not respond to requests for comment.

Zheng expressed support for Trump's wider aim of levelling the playing field between the USA and China, and addressing "long-standing inequities".

Analysts have warned that a full-scale trade war between the two could cause setbacks for global markets.

Some businesses are concerned about rising costs of imported materials; others, particularly farmers, about retaliatory tariffs imposed by China and Europe on US exports.

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