Tit-for-tat: China ready to respond if United States escalates trade war

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Tit-for-tat: China ready to respond if United States escalates trade war

President Donald Trump warned that if Chinese President Xi Jinping failed to meet with him at the annual G20 summit, the US would slap additional tariffs on $300 billion worth of Chinese imports. China has not confirmed any such meeting.

"If we don't make a deal, you'll see a tariff increase", Trump said.

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

He also has complained about the Chinese currency, saying it has been kept artificially low to keep exports cheap.

In public discussion of the U.S.

U.S. Commerce Secretary Wilbur Ross on Tuesday downplayed this month's summit in Japan, saying it would not be "a place where anyone makes a definitive deal".

But even so "China is getting absolutely decimated" by USA actions, he said. China very much wants to make a deal.

Mr Trump said he would be surprised if Mr Xi pulled out of attending the summit in Osaka, Japan, on June 28-29, where the heads of 19 countries and the European Union are expected to meet. Washington and Mexico City reached a deal on Friday to avert the tariffs, removing for the time being at least the prospect that the United States would find itself in trade wars with two of its three largest trading partners. Each side is blaming the other for the logjam in negotiations.

"Our attitude on the trade war has been firm and clear: China doesn't want a trade war but we are not afraid of fighting it", he said. "If the United States is willing to negotiate on an equal footing, our doors are always open".

In an interview with CNBC Monday, the president was asked about reports of China's alleged currency manipulation and how Beijing uses the practice to offset USA tariffs.

China reported on Monday its exports unexpectedly grew 1.1% in May from a year ago despite the higher United States tariffs, but imports fell the most in almost three years.

"I'm never insulted. I've learned not to be insulted", Trump said on the south lawn of the White House.

Trump has made tariffs a pillar of his foreign policy, arguing that USA economic power puts him in a win-win situation when he threatens rivals like China and even close allies, such as Canada, the European Union and Mexico.

Chinese authorities say the United States is exaggerating security concerns to block a potential competitor.

Apart from the US pressure, which has effectively shut Huawei out of the world's most lucrative market, growth in smartphone sales overall has been slowing.

In his comments to the electronics show, Shao said the company will march on in its development of the technology.

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