Since the deadlock in the two-day trade negotiations held in Washington last month, Trump has repeatedly said that he expects to meet with Chinese President Xi Jinping at a summit in Osaka, Japan, from 28 to 29 June. China has not confirmed any such meetings.
Trump said last week that he would decide whether to impose tariffs on at least $300 billion of Chinese goods after a meeting of leaders of the world's largest economies.
In an interview with CNBC on Monday, Trump said he still believed Xi would attend the summit. Asked if the United States would impose a new tariff if Chinese leaders did not attend the meeting, Trump said, "Yes, it will."
"If we don't reach an agreement, you'll see tariff increases." Trump told CNBC that he added that he had "good relations" with Xi Jinping and that Beijing wanted to reach an agreement with the United States.
China's Foreign Ministry said Monday that it is willing to start more trade negotiations with the United States. Geng Shuang, spokesman for the Ministry of Foreign Affairs, said, "We have noted that the United States has repeatedly publicly expressed its expectation of arranging a meeting between the heads of state of the United States and China during the Osaka Summit of the Group of Twenty. If there is any specific information in this regard, the Chinese side will release it in time.
In May, trade tensions between Washington and Beijing escalated sharply after the Trump administration accused China of violating its commitment to structural economic reform in months of trade negotiations.
The United States is seeking a comprehensive reform of China's trade and economic policies, including an end to forced technology transfer and theft of U.S. trade secrets. Washington also wants to limit China's subsidies to state-owned enterprises and allow American companies better access to the Chinese market.
On May 10, Trump imposed tariffs of up to 25% on $200 billion worth of Chinese goods, followed by measures to impose tariffs on $300 billion worth of Chinese imports. In retaliation, China raised some $60 billion in tariffs on American goods.
The blacklisting of Huawei [HWT.UL] by the U.S. government has also angered China, effectively forbidding U.S. companies from doing business with the world's largest telecommunications equipment manufacturer.
Hot Model No.: