Presidents Trump and Xi to Meet Again at G-20, Trade is the Issue
US President Donald Trump and Chinese President Xi Jinping plan to meet at the G-20 summit in Argentina in late November.
On the US side, the meeting is being pushed by Treasury Secretary Stephen Mnuchin and National Economic Council Director Larry Kudlow.
It was reported Thursday that the 2 world leaders, worried about financial markets reaction to the trade dispute, have been trying to get negotiations on track for months, now it is happening.
Larry Kudlow said that talks or the topics the leaders would address have not “been set in concrete.”
President Trump warned there was much more he could do that will hurt China’s economy further, showing no signs of backing off an escalating trade war with Beijing.
President Trump imposed tariffs on nearly $200-B of Chinese imports last month and then threatened more levies if China retaliated. China then hit back with tariffs on about $60-B of US imports that are of little consequence.
“It’s had a big impact,” President Trump said in a Fox News interview. “Their economy has gone down very substantially and I have a lot more to do if I want to do it.
“I do not want to do it, but they have to come to the table.”
President Trump said the Chinese want to negotiate but he does not believe they are ready and he told them so. He blamed previous US Presidents for allowing China to pursue unfair trade practices and said he had to tell Beijing, “It’s over.
“They lived too well for too long and, frankly, I guess they think the Americans are stupid people. Americans are not stupid people. We were led badly when it came to trade,” President Trump said on TV early Thursday.
Again, “Its Over.”