G20 meeting and more tariffs on China, deal with Mexico

From Reuters.com

Since two days of trade talks last month in Washington ended in a stalemate, Trump has repeatedly said he expected to meet Chinese President Xi Jinping at the June 28-29 summit in Osaka, Japan. China has not confirmed any such meeting.

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 slap tariffs on at least $300 billion in Chinese goods.

In an interview with CNBC on Monday, Trump said he still thought Xi would attend the summit. When asked if a fresh round of U.S. tariffs would go into effect if the Chinese leader was not at the meeting, Trump said, “Yes. It would.”

“If we don’t make a deal, you’ll see a tariff increase,” Trump told CNBC. He added that he has a “great relationship” with Xi and said Beijing wanted to make a deal with the United States.

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.

Trade tensions between Washington and Beijing rose sharply in May after the Trump administration accused China of having reneged on promises to make structural economic changes during months of trade talks.

The United States is seeking sweeping changes, including an end to forced technology transfers and theft of U.S. trade secrets. It also wants curbs on subsidies for Chinese state-owned enterprises and better access for U.S. firms in Chinese markets.

Continue Reading Here