Trump defends his China strategy, Beijing says ‘not afraid’ of trade war

Trump signals frustration with Fed's independent policies

Trump signals frustration with Fed's independent policies

Trump said possible additional tariffs will be imposed.if negotiations break down. "We have nothing to announce at this time regarding specific bilateral meetings", said White House National Security Council spokesman Garrett Marquis. But he added, "keep in mind, stranger things have happened".

On Monday Trump told CNBC in a phone call he would add the tariffs if the two leaders can not come together despite there being no sign that the Chinese president is planning to dodge him at the event.

The United States has already imposed 25% tariffs on $250 billion worth of goods. "You know why? Because of tariffs", Trump said in an interview on CNBC's "Squawk Box".

Since then, the two sides have exchanged several rounds of duties.

"If the United States only wants to escalate trade frictions, we will resolutely respond and fight to the end". "Remember that we believe he wants a third or fourth term".

US President Donald Trump said Wednesday he understands Hong Kong protesters who have risen up against plans to allow extraditions to China but hopes they can "work it out" with Beijing.

"We're not the foolish country that does so badly". "We expect to meet with President Xi very shortly". We've never gotten 10 cents from China. Vietnam, like China, also runs a trade surplus with the United States, the same condition that sparked the Sino-U.S. spat that's now in its second year with the prospect of escalation later this month. Mr. Trump noted that China's president, by contrast, is essentially also head of the Chinese central bank.

A source with ties to China's leadership said there was deep anger in the government and party about Trump's accusations of China backsliding, especially as Beijing thought it was on the verge of a deal.

"Based on my opinion and a lot of knowledge, China's going to make a deal because they have to make a deal", Trump said.

On Sunday, International Monetary Fund managing director Christine Lagarde said resolving the current trade tensions should be the top priority for G20 economies.

Earlier this morning, Trump told CNBC during a telephonic conversation that "People haven't used tariffs, but tariffs are a attractive thing when you are the piggy bank, when you have all the money". Those agreements, however, are only papering over the cracks - China is facing monumental economic challenges, and is utterly unable to compete with the booming USA economy or cope with 25 percent tariffs on $250 billion worth of their exports into the vast consumer markets of America.

Meanwhile, Dow Jones saw a seven-day winning streak ー the longest run since May of a year ago ー which might break as investors respond to Trump's latest comments.

The US-China tension has gone beyond tariffs.

"We're taking in billions and billions of dollars". The Mexican peso rose more than 2% against the greenback, reversing most of its losses from the past couple of weeks.