China has not agreed to US President Trump's new trade parameters, and as a result, Trump is threatening an increase on the current tariffs and the addition of new ones.
Trump already has imposed steep punitive tariffs on about half of the Chinese goods imported into the U.S. market each year, and has threatened to target the remaining US$267 billion (RM1.12 trillion) as well - which would hit Apple iPhones and laptops produced in China.
"If we don't make a deal, then I'm going to put the..."
Trump campaigned on reducing the trade imbalance with China, which totaled $335.4 billion a year ago.
China, while it has imposed retaliatory tariffs of its own on more than US$100b of U.S. imports, has made some concessions by opening segments of its economy to greater foreign investment and promising wider liberalisation.
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My emails have not been deleted , nor was there anything of substance, nothing confidential that was within them. Trump offered a wry smile, and said: "He's my father and he's my boss".
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The trade war between the United States and China is in its full swing.
Repeating that threat on Tuesday, Kudlow said that such action remained on the table, but "may not be the first choice". "Although the current economic situation in the United States is good, people can not rule out the possibility of another - I don't want to use the word "crisis" - a similar situation to what happened 10 years ago", he said.
Trump is also inked in to meet separately with Russia's Vladimir Putin and the leaders of Argentina, Germany, India, Japan, South Korea and Turkey, White House officials said.
"We're gonna use this as an opportunity to talk about our measures of tax cuts and deregulations and reskilling and job training and so forth that have generated significant economic growth and prosperity [in the United States]", Kudlow said. He declined to say what other US officials will join Trump in the session.
Trump told The Washington Post on Tuesday that "maybe I won´t have the meeting".
The trade war had "harmed businesses, farmers, consumers, workers, and families worldwide", the statement said, appealing to Trump and Xi to "meet the challenge of global leadership".