US President Donald Trump claimed that he was ready to enforce another sequence of penal tariffs on the imported goods from China if he becomes unable to confirm a trade agreement with the Chinese President at a G-20 summit later this month.
Since two days of trade negotiations last month in Washington ended in a standoff, the US President has repeatedly said he expected to meet Chinese President Xi Jinping at the June 28-29 summit in Osaka, Japan. China had not ensured any kind of meeting.
The US President said last week that he would decide after the conference with the global leaders of the largest economic powers whether to carry out a treat to slap tariffs on at least $300 billion in Chinese goods.
The US President Donald Trump said that he thought Xi would attend the conference, while asked if the latest round of US tariffs would go to be effective if the Chinese leader does not attend the meeting.
The US President professed, “Yes, it would”. The US President told the media , “If we don’t make a deal, you’ll see a tariff increase ”. He also added, “ great relationship” with Xi and said Beijing wanted to make an agreement with the United States.
Chinese Foreign Ministry claimed on Monday, that China is open to more discussions with Washington but has nothing to declare about a probable meeting.
Trade negotiations between Washington and Beijing escalated sharply in May after the US President accused China of pulling back the pledges for making structural economic changes during months of trade negotiations.
The United States is requesting for rapid alterations to the economic and trading policies of China along with an end to triggered technology transfers and theft of US trade secrets. Washington also wants gag on the approved amount for Chinese state-led enterprise and better access for the firms of the United States in the Chinese markets.
On 10th May, the US President enforced higher tariffs up to 25% on $200 billion of Chinese goods and then took moves to the tariff amounts on an additional $300 billion in Chinese imports. Beijing counterattacked with tariff hikes on an amended list of $60 billion in US goods.
The US government also inflamed China as they blacklisted Huawei Technologies Co Ltd which bans effectively the US-based companies from doing business with the Chinese enterprise, the biggest telecoms equipment maker in the world.