U.S. has benefited richly from trade with China, says Beijing

Trump to decide on next China tariffs after G20 summit

US President Donald Trump threatened to hit China with tariffs on "at least" another US$300 billion (RM1.2 trillion) worth of Chinese goods but said he thought both China and Mexico wanted to make deals in their trade disputes with the United States.

Relations between the United States and China have deteriorated since Trump in early May accused Beijing of reneging on commitments to change its ways of doing business with the rest of the world. The regime responded with a tariff hike on $60 billion of USA goods.

The G20 summit, in Japan on June 28-29, marks the first opportunity for Trump and Chinese President Xi Jinping to meet since the last G20 summit in Buenos Aires in late 2018. Since Trump fired the first shot, the two countries have implemented tit-for-tat tariffs on two-way trade worth hundreds of billions of dollars.

"We'll make that decision, I would say, over the two-weeks...one way or the another, I'll make that decision after the G20", he stated.

"I'll be meeting with President Xi and we'll see what happens, but probably planning it sometime after G20", he stressed.

There is speculation that such a meeting, which will take place in Japan at a gathering of Group of Twenty finance ministers, could break the ice for progress on restarting talks, even if the two don't get far in laying the groundwork for such a breakthrough.

But tensions have since spiraled, with the US targeting pressure points that have previously generated disagreements between the two nations.

The two countries have been at odds since July 2018 over a host of U.S. demands that the Asian powerhouse adopt policy changes that would better protect American intellectual property and make China's market more accessible to USA companies.

China has already cut banks' reserve requirements (RRR) six times since early 2018 and guided interest rates lower, while keeping ample liquidity in the banking system. "We'll see what happens", he said. "In the meantime, we're getting 25 percent on $250 billion, and I can go up another at least $300 billion", Trump told reporters in Ireland before heading to Normandy to attend a ceremony marking the 75th anniversary of D-Day.

"If the United States willfully decides to escalate tensions, we'll fight to the end", ministry spokesman Gao Feng told a regular news briefing.

'If the perpetrator wants to fight, we will beat him out of his wits, ' the lyrics of the privately produced song titled Trade War read.

The US Bureau of Economic Analysis and the US Census Bureau report showed that the overall United States trade deficit for April fell 2.1% to $50.8 billion, which is supposed to be a good sign for the economy, but it is not. However, China's Ministry of Commerce published a statement Thursday claiming that, when accounting for services and processing trade, the gap between the two countries is actually $153 billion.

The only glimmer of hope in recent days was the news that one of the top USA trade negotiators, Treasury Secretary Steven Mnuchin, will meet in person with People's Bank of China Governor Yi Gang this weekend.

Related News:

  • Sweet! It's National Donut Day. Here's where to find deals

    Sweet! It's National Donut Day. Here's where to find deals

    Tasty's: Apple fritter, double blueberry and Bavarian cream are just a few of the doughnut options available at Tasty's. Salem City Library: The Salem City Library in Utah County is hosting a " Donut Appreciation Day" on Friday, June 7.
    Microsoft Enhances Skype With Screen Sharing Option On Android and iOS

    Microsoft Enhances Skype With Screen Sharing Option On Android and iOS

    In addition, Microsoft redesigned Skype's mobile calling to make it more streamlined, and to simplify video chats. Double tap to remove all unnecessary visuals, then single tap again to return the controls front and center.
    Nokia 2.2 renders leak ahead of expected launch today

    Nokia 2.2 renders leak ahead of expected launch today

    The Nokia 2 .2 will be priced at an average of €99 an will be available in two colours: Steel and Tungsten Black . Because with the Nokia 2 .2, it promises to deliver the latest Android and AI trends in an affordable package.
  • US Warship Nearly Collided with Russian Vessel Near China

    According to Russian authorities, it was the USA naval ship that carried out a risky maneuver by sailing close to their vessel. Russian Federation and the United States regularly accuse each other of carrying out unsafe aerial or naval manoeuvres.
    WWE Waiting For Approval To Hold Women's Match In Saudi Arabia

    WWE Waiting For Approval To Hold Women's Match In Saudi Arabia

    An interesting WWE name is reportedly headed to Jeddah , Saudi Arabia, the site of Friday's WWE Super ShowDown 2019 pay-per-view. It was recently reported that Natalya and Alexa Bliss are making their way to Saudi Arabia but their roles are unknown.
    Samsung Galaxy A90 reportedly spotted on Geekbench running Snapdragon 675

    Samsung Galaxy A90 reportedly spotted on Geekbench running Snapdragon 675

    Additionally, improvements to Night Mode were also added alongside the new ability to use the ultra-wide camera in Night Mode. Rumor has it the smartphones will also feature two front-facing cameras and potentially more storage and RAM as standard.
  • Tracy Morgan crashes £1.5m vehicle  'an hour after buying it'

    Tracy Morgan crashes £1.5m vehicle 'an hour after buying it'

    In a November 2016 appearance on "Conan", Morgan said he held no ill-will toward the driver of the tractor-trailer, Kevin Roper . Madulid added that the pair were both turning right when she knows "he hit me because I was already [turning]".
    History Of Jean Grey | Dark Phoenix

    History Of Jean Grey | Dark Phoenix

    This movie undoubtedly suffered for reshoots, which, it turns out, were done to avoid similarities to another superhero movie . Everett CollectionHow can I stream X-Men: Apocalypse? The actors fall into two camps: visibly bored and visibly confused.
    Kate Middleton & Prince William Skip the Photo Op During Trump's Royal Visit

    Kate Middleton & Prince William Skip the Photo Op During Trump's Royal Visit

    She is esteem, gonna be Queen (kinda) sooner or later trigger she's married to Prince William and his grandma is the Queenie. Kate also wore her Royal Family Order, a yellow ribbon badge with a portrait of the monarch, pinned onto her dress.
  • RBI cuts key rate by 25 bps, changes neutral stance to accommodative

    RBI cuts key rate by 25 bps, changes neutral stance to accommodative

    The Reserve Bank of India (RBI ) on Thursday decided not to levy charges on RTGS and NEFT transactions. The economy expanded at a 6.8% pace during the last fiscal year, a five-year low.
    Happy, happy, happy! Konta beaming after breaking new ground at French Open

    Happy, happy, happy! Konta beaming after breaking new ground at French Open

    The 26th seed tightened her grip with a break in the opening game of the second set and that proved more than enough. I won the first set, I was going around to play the second and she suddenly shook hands with me.
    Google Stadia May Get Destiny 2 With Cross-Saving Enabled

    Google Stadia May Get Destiny 2 With Cross-Saving Enabled

    Bungie , the makers of Destiny , will also apparently introduce a major feature for the game itself: cross-save. At this event, it's also assumed that we'll hear more about the recently-leaked Shadowkeep expansion .


Most liked

Large-scale protest against Trump visit held in Dublin
Thousands of protesters have taken to the streets of Dublin in opposition to US President Donald Trump's visit to Ireland. President Donald Trump was scheduled to have a 15-minute meeting with heir-to-the-throne Prince Charles over tea.

Doctor Charged in 25 Murders Has a Criminal Past
Thirty of those employees were put on leave, and 18 no longer work there, including some who left years ago, officials said. The murder charges were brought only in cases that involved fentanyl doses of at least 500 micrograms. "At no time did Dr.

Jennifer Aniston dealt with birthday flight emergency by getting drunk
Despite other talk shows and interviewers opting to stay away from the now-cliched question, Ellen gave the fans what they wanted. She also went on to say that the rest of her co-actors will also be game for it.

Private Sector Employment Rose by 27,000 Jobs in May
Larger companies typically are able to offer higher pay and more benefits and are better able to hire in a tight job market. This report comes from ADP's actual payroll data rather than from a sampling each month for the government's formal report.

Labour party narrowly denies Brexit party first seat in United Kingdom parliament
The Brexit Party's candidate Mike Greene, a local entrepreneur, came in second with almost 29 percent of the vote , behind Labour's Lisa Forbes, who won around 31 percent.

R. Kelly pleads not guilty to additional sex charges
The judge made clear to Kelly that his next court date is on June 26 and, speaking to the singer, said, "You're out on bond". The Grammy award-winning singer, who has denied any wrongdoing, left without speaking to reporters.

Is Bradley Cooper Getting Divorced?
The two played love interests in the film, but people were convinced their connection was too strong to only be acting. United States reports earlier this week revealed the pair's relationship was " hanging on by a thread ".

Facebook stops its apps from being pre-installed on Huawei phones
In May, Washington banned USA companies from supplying technology to Huawei, part of a long-running campaign against the company. There is time to find a resolution, given the USA government's reprieve until August, but Huawei's future is uncertain.

Google to buy analytics software firm Looker for US$2.6 bln
Looker will help Google provide customers with a consistent way to define business metrics across data resources, Google said. Looker claims to offer access to complex business analytics without requiring an army of white coated data scientists.

Netherlands defeat England, to face Portugal in final — UEFA Nations League
Raheem Sterling was left to rue "silly mistakes" which cost England a place in Sunday's Nations League final against Portugal . It was poor execution and fatigue, certainly with the last one, because Ross had just gone down with cramp moments before.

Real Madrid 'agree fee for Eden Hazard', Chelsea star set to leave
He then adds Eden Hazard's contract has already been drawn up , and Chelsea are said to be going through and checking it. After the match, he told reporters that his title-winning performance may have been his last in a Chelsea uniform .

Nicole Curran says she's getting death threats over viral Beyoncé photo
Curran was getting Beyonce and Jay-Z's drink orders - Bey asked for water, Jay asked for a vodka soda. Win or lose, game days are more delicious with Uber Eats.

Melania Trump channels Princess Diana in bold ensemble during royal visit
However, other people online didn't find the idea as amusing and sniffed at the idea that a monarch would throw shade in this way. Meanwhile, during the State Banquet , Trump was slammed for appearing to fall asleep during the Queen's speech.

Daniel James set for Manchester United medical
He burst on to the scene at Swansea under Graham Potter last season and quickly caught the eye with his extraordinary pace. The deal will see United pay around £15m up front for the twice-capped worldwide with the remainder in add-ons.

NHL: Blues on verge of maiden Stanley Cup after blanking Bruins
CBS Sports will be following along live with all of the action of Game 5 of the Stanley Cup Final between the Bruins and Blues. Cameras caught Bruins president Cam Neely hurling a water bottle in frustration while fans littered the ice with debris.