Beijing, Washington up the stakes as G20 Xi-Trump meeting nears

Trump may slap tariffs on iPhones: Report, Latest World News

China has sought to bolster relations with other countries and forge new economic partnerships this year, as its relationship with the USA faces new strains over trade.

"I'm not here to critique or second-guess the Chinese economy, but most observers believe China to be in a slump, whereas the United States is in a very strong, solid position going into this summit", Kudlow said.

US President Donald Trump has told the Wall Street Journal that the US may proceed with new tariffs on consumer tech made in China, including the iPhone. This time it could be on more than $260 billion in Chinese goods.

White House economic guru Larry Kudlow told reporters Tuesday that new tariffs are definitely coming 'if we can't get something done.

The dinner with Xi is scheduled as one of the last events on Trump's itinerary there before he returns to Washington, Kudlow said.

He also said it was "highly unlikely" that he would delay raising rates for the $200bn of goods already subjected to tariffs.

Apple CEO Tim Cook has personally pressed the issue of tariffs with Trump, telling the president that while there are valid concerns about U.S.

Trump may slap tariffs on iPhones: Report, Latest World News
Kremlin says it expects Putin-Pres. Trump meeting to go ahead

Under the shadow of the trade war, during the third quarter this year China experienced its slowest growth in 10 years, according to the latest economic figures to come out of the country. -China trade relations, tariffs are not the best way to resolve them.

Donald Trump has raised the stakes in the escalating global trade dispute between the US, China and some of America's traditional allies ahead of a major gathering of world leaders this week.

Trump "realizes the ramifications" of levying tariffs, he said.

"I don't want to go overboard, but he's indicated some optimism". What would the United States do?' Xu told a small group of reporters in Beijing on Tuesday, adding that China accounts for at least half of the market for many US listed companies.

Beijing was hoping Washington would call off the planned increase as a result of this week's meeting between Trump and Xi at the G20 summit in Bueno Aires, Argentina.

'We can buy from Japan and South Korea or develop our own. Once the chain is broken, the United States would be affected too'.

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