United States delegation to visit China for trade talks

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

The two sides will discuss how to implement consensus reached by leaders of both countries in Argentina, it said.

Lighthizer's office was also responsible for the original report previous year that laid out allegations of Chinese theft of United States intellectual property and formally kicked off the tariff process. US officials have said that if the talks fail to produce a satisfactory agreement Washington will increase tariffs on $200 billion of Chinese goods from 10 percent to 25 percent.

The U.S. trade delegation led by Deputy Trade Representative Jeffrey Gerrish will visit China on Monday and Tuesday, according to China's Ministry of Commerce.

"The trade tensions between the United States and China put additional pressure on their economy", Cook said in an interview with CNBC Wednesday.

At a summit in Argentina late previous year, US President Donald Trump and Chinese President Xi Jinping agreed to a ceasefire, deciding to hold off on imposing more tariffs for 90 days starting December 1 while they attempt to negotiate a deal.

USA factory activity slowed more than expected in December, according to the Institute for Supply Management (ISM), while Chinese data on Monday showed its manufacturing activity contracted for the first time in more than two years. "I hope we're going to make a deal with China". The latest evidence of China's weakening economy came from Apple. "And if we don't, they're paying us tens of billions of dollars worth of tariffs - not the worst thing in the world".

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Chinese economic growth fell to a post-global crisis of 6.5 percent in the quarter ending in September.

It will be the first face-to-face meeting since the two countries agreed not to impose new tariffs for 90 days. The two sides face a March 1 deadline; the US has promised to hike its import tax from 10 percent to 25 percent on $200 billion of Chinese products if no deal is reached.

Shares in Apple slid nearly 10% after it announced late on Wednesday that it was trimming its sales forecast for the most recent quarter.

In a separate statement on Friday, USTR said the delegation will also include Under Secretaries from the US 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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