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China says will respond if US escalates trade tension

11 June 2019

Attention is turning to a possible meeting of President Donald Trump with Chinese leader Xi Jinping at a summit in Japan later this month as the next step in the vexing trade standoff between the two biggest economies.

The Chinese government would not confirm Tuesday that such a meeting will take place.

Mr Trump said his administration is taking "35 percent to 40 percent" of Chinese goods coming into the US.

Trump said the meeting was "scheduled" and that he expects Xi to attend. I think interesting things will happen.

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The United States has already imposed 25% tariffs on $250 billion worth of goods.

The United States says that China cheats in bilateral trade by forcing U.S. importers to give up intellectual property, subsidizing its own companies, and running a huge trade surplus with Washington.

-China trade war in that he controls China's central bank while Trump must deal with a Federal Reserve that is "very destructive to us".

"In the end of the day Trump will win", Moore said, adding that China would love Joe Biden as President of the United States. It also wants curbs on subsidies for Chinese state-owned enterprises and better access for US firms in Chinese markets. Those agreements, however, are only papering over the cracks - China is facing monumental economic challenges, and is utterly unable to compete with the booming US economy or cope with 25 percent tariffs on $250 billion worth of their exports into the vast consumer markets of America.

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"We're not the foolish country that does so badly".

"At the G20, at most it will be. some sort of agreement on a path forward, but certainly it's not going to be a definite agreement", Ross told CNBC in a television interview.

Investors worry China will retaliate by putting USA companies on a blacklist or banning exports to the United States of rare earth metals, which are used in products such as memory chips, rechargeable batteries and cell phones. The U.S. Fed is meant to act independently and make its decisions based on economic conditions, but Trump has pressured it to lower rates.

The escalating trade war between the world's two largest economies has unnerved financial markets with worries that it could further disrupt global manufacturing and supply chains and push an already slowing global economy into recession.

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On Sunday, International Monetary Fund managing director Christine Lagarde said resolving the current trade tensions should be the top priority for G20 economies. "So everything that we do is to define our direction in the new round of competition". His latest assault on the USA central bank returned to his argument that it should aid his trade war with China, a sensitive topic among US allies who worry about monetary policy being used for foreign policy goals.

China says will respond if US escalates trade tension