Washington has offered to restart negotiations with Beijing as the trade war escalates, a move analysts say reflects pressure on the White House ahead of critical midterm elections and a weaker Chinese negotiating position as its economy slows.
Beijing "has indeed received an invitation from the United States and holds a welcoming attitude to it", said Gao, noting the "two sides are still communicating on the specific details". "And so, Secretary Mnuchin, who is the team leader with China, has apparently issued an invitation".
Asian shares advanced on Thursday on hopes that a deal could be struck in the bitter tariff dispute between the world's two largest economies.
China's stock market slumped to a 31 month low on Wednesday, Sept. 12. We will soon be taking in Billions in Tariffs & making products at home.
"If nearly a half of American companies anticipate a strong negative impact from the next round of US tariffs, then the USA administration will be hurting the companies it should be helping", he said. -China talks would delay the duties.
The White House believes China will wave the white flag after the next round of tariffs on $200 billion in goods, said William Zarit, the chamber's chairman.
"I think the talks have the potential to be successful, but it depends on the approach that both countries take", she said.
The White House says tariffs are a response to China's unfair trade policies, which Mr Trump blames for helping to create a huge trade deficit. "That's what we've been asking for months and months".
But Kudlow was non-committal over the chances of a breakthrough, adding: "I guarantee nothing".
The timing and location of the proposed meeting were unclear, the sources familiar with the matter said.
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"Chinese officials said they have grown wary of the Trump administration's unpredictable decision-making process and may be hesitant to accept without a clear sign US negotiators have authority to speak for the president", the original report said.
The duty on light trucks, which account for about 50 percent of auto sales in the USA, was hardly mentioned before Mr. Trump started threatening Europe with tariffs on vehicles.
The invitation, first reported by the Wall Street Journal, comes amid a swelling chorus of opposition to tariffs from Western business circles.
The US and China have slapped tariffs on $50bn of one another's goods this year in an escalating trade war between the world's two largest economies.
President Donald Trump has criticized China's record trade surplus with the United States, and has demanded that Beijing cut it immediately, threatening further tariffs on an additional $200-billion worth of goods - and possibly more.
Trump said last week that he also had tariffs on an additional $267 billion worth of goods ready "on short notice if I want".
China has also warned it could unleash "qualitative" measures, which US business groups have interpreted as more burdensome regulations, stalled visas and other red-tape headaches.
A day earlier, more than 60 USA industry groups launched a coalition - Americans for Free Trade - to take the fight against the tariffs public.
To avoid the tariffs, 30 percent of USA companies are looking at moving assembly out of the United States or China or finding new suppliers, the chambers said.
Some 63.6 percent of more than 430 companies that responded to the American chambers' survey said profits and customer demand have fallen due to the USA tariffs and 62.5 percent said the same about retaliatory Chinese tariffs. The US government accuses China of stealing intellectual property and forcing American companies to hand over valuable technology.