Economic talks are set to take place between the USA and China later today in the wake of trade disputes between the two countries.
The US has threatened to impose punitive duties of up to 25% on around $150 billion in Chinese goods while China has targeted $50 billion in American exports.
In Beijing, the commerce ministry said China hoped the two sides could resolve the trade frictions during the talks.
Speaking at a press conference in Beijing, Commerce spokesman Gao Feng said that China has prepared a response for “various possibilities”
As the talks get underway a new report has been released that says the number of US trademark applications made by Chinese brands has increased by 800% since 2014.
China looks set to overtake the USA as the world’s leading source of foreign trademark applications by 2020.
CompuMark, a trademark research company said that trademark-filing trends are a powerful indicator of economic activity.
Over the last two years, the number of Chinese trademark applications to foreign registers has doubled, with Chinese applicants filing nearly 120,000 foreign trademark applications in 2017.
Chinese trademark applications in the US are up by 800% since 2014, and Chinese applications make up 10% of all applications for trademarks made in the US.
Trademark applications are up in China too. More applications were submitted in a single week in September 2017 than were submitted to the European Union register in all of 2016. And the proportion of global trademark applications filed in China is still growing.
Jeff Roy, President of CompuMark said, ” If current trends continue, Chinese brands are likely to challenge US brands for global supremacy in the near future.”