China's economic woes put USA in strong position in trade talks

China's economic woes put USA in strong position in trade talks

A warning by Apple (AAPL.O) of weaker than expected iPhone sales in China has underlined concerns about the Chinese economy.

China's commerce ministry said in a statement that a working team led by Deputy US Trade Representative Jeffery Gerrish will come to China to have "positive and constructive discussions" with Chinese counterparts. In the meantime we are doing well in various Trade Negotiations now going on.

China on Friday confirmed that a vice ministerial level delegation from the United States will visit Beijing next week for "proactive and constructive talks" to flesh out agreements reached between President Xi Jinping and USA counterpart Donald Trump in Argentina last month.

The ceasefire began on 1 December in Buenos Aires after the two heads of state agreed to hold off on further tariffs or retaliation for 90 days.

To try to compel China to reform its ways, Washington has imposed tariffs on $250 billion in Chinese imports; Beijing has counterpunched by taxing $110 billion in US goods.

After becoming president Trump imposed tariffs on several Chinese products ranging from consumer durables like toys, handbags and electronic items to industrial goods. Apple CEO Tim Cook warned investors, "We believe the economic environment in China has been further impacted by rising trade tensions with the United States".

Instead, more than 70 percent of USA firms operating in southern China are putting off further investment there and moving some or all of their manufacturing to other countries. -China relations will force other US companies to cut their sales estimates in China.

Kevin Hassett said in an interview with CNN.

China, the world's second largest economy, likely expanded at more than 6 percent last year, reflecting a slowdown from years past and, in recent months, its most tepid rate since the depths of the global financial crisis a decade ago.

The new declaration was made by China after President Trump tweeted about "big progress" being made during telecom with President Xi Jinping of China during the weekend.

"That puts a lot of pressure on China to make a deal", he said.

"If we have a successful negotiation with China, then Apple sales and everybody else's sales will recover".

Third-quarter US growth was 3.4 percent and unemployment is at a five-decade low. But economists say the US economy could be slowing and uncertainty in global economic fortunes has led to volatile daily swings in stock indexes in recent weeks. The S&P 500 stock index suffered its worst annual loss previous year in a decade. For 2018, the Dow Jones Industrial Average - America's highest-profile stock market benchmark - fell almost 6 per cent, its worst performance since 2008.

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