President Donald Trump threatened to raise tariffs on China again if President Xi Jinping doesn’t meet with him at the upcoming Group of 20 summit in Japan.
Trump said in an interview with CNBC on Monday that tariffs on about $300 billion in Chinese goods would be enacted immediately if they don’t reach a deal at the summit later this month.
“I think he will go and I think we’re scheduled to have a meeting," Trump said. “I think he’ll go, and I have a great relationship with him. He’s actually an incredible guy, he’s a great man. He’s very strong, very smart, but he’s for China and I’m for the US."
Trade talks with China hit an impasse last month after the president accused Beijing of reneging on provisions of a tentative agreement. The two countries have since escalated their trade war. “China is going to make a deal because they’re going to have to make a deal," Trump said Monday.
Trump again suggested that an eventual trade deal could involve Huawei Technologies Co. The Trump administration is campaigning to block the company from emerging 5G telecommunications networks around the world and has moved to cut off Huawei from US suppliers, citing national security concerns.
“I do see it as a threat," he said Monday. “At the same time it could be very well that we do something with respect to Huawei as part of our trade negotation with China. China very much wants to make a deal. They want to make a deal much more than I do, but we’ll see what happens."
When asked whether US actions against Huawei could set the US back on 5G, Trump said “No." The US is “actually going to be leading very shortly. You know, we’re leading in everything." he said. Of China, he said: “As great as they are—and they are great—they don’t have near the capability of our geniuses in Silicon Valley that walk around in undershirts and they’re worth $2 billion." But by consistently linking the company to trade talks, Trump has suggested his aim is to stunt China’s growth as an economic rival to the US.
“Huawei is very powerful, very strong," he said in the interview. He said that he wants China to do well, but that “I don’t want them to do as well as us."