Published: Thu, June 13, 2019
Worldwide | By Isabel Fisher

No US-China deal seen at G20 summit

No US-China deal seen at G20 summit

"We had a deal with China and unless they go back to that deal I have no interest", Trump said.

While speaking Monday on CNBC's Squawk Box, Trump said that if Xi did not meet with him at the G20, the US would levy the additional tariffs.

The Group of 20 summit later this month could lead to progress towards a trade deal with China but is not the venue for a "definitive agreement", US Commerce Secretary Wilbur Ross said yesterday.

Though neither side has confirmed that a meeting will take place, investors worldwide who have seen over a trillion USA dollars wiped from global markets in the past month by the trade fight will be closely watching any interaction between the two men.

Mexico's foreign minister says his government is willing to work with the Trump administration to stop the flow of migrants coming to the US, but that issuing tariff threats isn't the way to solve this crisis; Garrett Tenney reports from Washington.

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.

Last week, Trump said he would decide after the G-20 meeting of the leaders of the world's largest economies whether to carry out a threat to impose tariffs on an additional $300 billion (33 trillion yen) in Chinese goods. I think he's going.

"China is a major competitor, and right now China wants to make a great deal very badly", he said. "If the United States only wants to escalate trade frictions, we will resolutely respond and fight to the end", he said.

Asked about the deadline for imposing tariffs on an additional 325-billion dollars worth of Chinese goods, he said there is none.

The International Monetary Fund (IMF) also recently concluded that USA tariffs have had a "significant" impact on China, causing the IMF to lower its forecast for China's future growth.

"China is going to eat our lunch?" "The prospects for even a temporary and limited ceasefire have dissipated and a prolonged period of trade and broader economic tensions between the two countries seems on the cards".

"We'd get virtually 100% of the companies" that would relocate, Trump told CNBC. Eventually, after several days of uncertainty, Donald Trump accepted the arrangement. The United States has sanctioned Huawei, sent its navy into the disputed South China Sea and Taiwan Strait, and made other public shows of support for self-ruled Taiwan. On May 30, the Chinese government accused the U.S. of "economic terrorism". Now we're getting a lot of money from China.

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