More China tariffs immediately if President Xi isn’t at G-20


President Donald Trump confirmed on Monday that additional tariffs on Chinese goods will go into place if Chinese President Xi Jinping does not attend the coming G-20 meeting.When asked if that means the new tariffs would go into effect immediately, Trump told CNBC’s Becky Quick that “yes, it would.”The president previously threatened to put levies on another $300 billion in Chinese goods if an agreement is not reached soon. Last month the Trump administration increased tariffs on $200 billion worth of goods the U.S. imports from China.Trump is scheduled to meet with Xi at the G-20 summit. When Trump called CNBC’s Joe Kernen on Monday, the president said he thinks Xi will go to the meeting and that he’d be surprised if he didn’t attend. This year’s G-20 meeting, where leaders of 19 nations and the European Union come together, will be in Osaka, Japan on June 28 to June 29.The president said he has “a great relationship” with Xi, adding that “he’s actually an incredible guy.”As the trade war between the U.S. and China continues, Trump laid out that he will continue raising tariffs on Chinese goods. He said that his administration is currently taxing “35% to 40%” of the Chinese goods the U.S. imports. If an agreement isn’t reached, there are “another 60% and that’ll be taxed,” Trump said.

Source link