Trump to snap more tariffs on China after G20 meetings

• Financial

Casting further shadows over the outlook of an escalated trade spat between Washington and Beijing, US President Donald Trump had warned on Monday, the 10th of June 2019, that, he could trot further punitive tariffs on Chinese imports, unless he could not reach a deal with his Chinese counterpart Xi Jinping over the G20 meeting scheduled to be held by June 28th-29th in Japan.

In point of fact, following latest round of trade talk earlier on May that ended prematurely after the US President had broken the peace-treaty reached last December to delay tariff hike and imposed 25 percent tariff on some $200 billion worth of Chinese imports, Trump had reiterated several times that he would be meeting Chinese President Xi Jinping over the sidelines of G20 meeting due to be held later this month at Japan as beforementioned, however, China had yet to confirm any such arrangement.

In an interview with the CNBC on Monday (June 10th), Trump said that he was expected Xi to attend the G20 meeting, and while being asked whether he would push ahead with tariff hike if the Chinese leader did not attend the meeting, Trump had been quoted saying that he would add 25 percent punitive tariffs on rest of the Chinese imports worth of around $300 billion.

Adding that he had a great relationship with Xi and China would want to make a deal to avert a slowdown, Trump said in his Monday’s (June 10th) interview with CNBC, “If we don’t make a deal, you’ll see a tariff increase”.