US President Trump says ready to impose another round of punitive tariffs on Chinese imports if he cannot make progress in trade talks with China’s President Xi at G20 summit
US President Donald Trump speaks while welcoming Team Penske, champions of the 103rd Indianapolis 500, on the South Lawn of the White House in Washington, US. on June 10, 2019.
Trump said last week he would decide after the meeting of the leaders of the world’s largest economies whether to carry out a threat to impose tariffs on at least $300 billion in Chinese goods.“We are scheduled to talk and to meet. I think interesting things will happen. Let’s see what happens,” Trump told reporters at the White House.China’s foreign ministry said on Monday that China is open to more trade talks with Washington but has nothing to announce about a possible meeting.
The US government has also angered China by putting Huawei Technologies Co Ltd on a blacklist that effectively bans US companies from doing business with the Chinese firm, the world’s biggest telecoms equipment maker. In an interview with CNBC, Trump said the Huawei dispute could be addressed as part of a trade deal with China.The escalating trade war between the world’s two largest economies has unnerved financial markets with worries that it could further disrupt global manufacturing and supply chains and push an already slowing global economy into recession.
Many US business groups oppose the tariffs, with companies worried about slowing demand as they pass higher prices along to consumers and manufacturers across a range of products.
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