US President ready to slap more tariffs on China after G20 meeting

Vastavam web: U.S. President Donald Trump said on Monday he was ready to impose another round of punitive tariffs on Chinese imports if he cannot make progress in trade talks with China’s President at a Group of 20 summit later this month. Since two days of talks to resolve the U.S.-China trade dispute last month in Washington ended in a stalemate, Trump has repeatedly said he expected to meet President Xi Jinping at the June 28-29 summit in Osaka, Japan. China has not confirmed any such meeting.

Trump said last week he would decide after the meeting of the leaders of the world’s largest economies whether to carry out a threat to impose tariffs on at least $300 billion in Chinese goods. The United States has already imposed 25% tariffs on $250 billion worth of goods.

China’s foreign ministry said on Monday that China is open to more trade talks with Washington but has nothing to announce about a possible meeting. Tensions between Washington and Beijing rose sharply in May after the Trump administration accused China of having reneged on promises to make structural economic changes during months of trade talks.

The United States is seeking sweeping changes, including an end to forced technology transfers and theft of U.S. trade secrets. It also wants curbs on subsidies for Chinese state-owned enterprises and better access for U.S. firms in Chinese markets.

The U.S. government has also angered China by putting Huawei Technologies Co Ltd on a blacklist that effectively bans U.S. companies from doing business with the Chinese firm, the world’s biggest telecoms equipment maker.