The US has also stated on multiple occasions that it is ready and interested in mediating the dispute, but its offers have been rejected by both China and India so far.
The US central bank also indicated that the asset purchases will foster smooth market functioning and create accommodative financial conditions, while supporting the flow of credit to households and businesses. Coupled with the low interest rate, the asset purchases aim to increase support for the US economy amid the surging coronavirus outbreak.
The US has maintained an auto trade surplus with China, said Bozzella. "In 2017, the US exported nearly 260,000 cars and trucks to China. We export way more cars built here in America by Americans to China than we import from China," he said.
The United States is still seen as the No 1 market with great potential for Chinese companies to expand business despite trade disputes with China and its investment controls, said the report, entitled New Perceptions of China Going Global.
The US Senate overwhelmingly passed a resolution on Wednesday that calls on Trump to gain congressional approval before deciding to impose tariffs for national security. The move — which was not binding upon Trump — came as trade groups continued to oppose his new round of hefty duties against China.
The USMCA modernizes trading rules and strengthens enforcement of labor and environmental rights, but its restrictions on auto trade and investment and on auto production "will hurt US industry," said PIIE trade economists Mary Lovely and Jeffrey Schott, authors of the analysis.
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The US state of California took the lead in conducting cooperation with China, which has become its biggest trade partner, Luo said, adding that the 481 projects invested by China in the state, with a total amount of 29.7 billion dollars, have created tens of thousands of jobs here.
The US is "learning to live" with COVID-19 and it's "going away", Trump said.
The US and China had the greatest number of new super unicorns worth billion last year with 12 and 7 respectively, accounting for 86.4 percent of the world's total. The UK, India and Singapore had one of these companies each in the same period.
The US entertainment giant is in a race to dominate the fast-booming industry in China, where at least 70 new theme parks are under construction or in a detailed planning stage, and where theme park attendance will surpass the United States by 2020, Yoshii noted.