There still aren’t any formalized plans for U.S. President Donald Trump and Chinese President Xi Jinping to meet at the upcoming G20 Summit in Japan, according to chief economic adviser Larry Kudlow.
Trump has said there is no deadline for imposing even more tariffs on Chinese imports. However, he’s also threatened to make a move if Xi refuses to meet in Japan.
Politico says Kudlow emphasized that the administration is still looking at strong-arming China. Kudlow recently took part in an on-stage discussion with Fred Bergsten, president emeritus of the Peterson Institute for International Economics. He said there’s only one way to get to an agreement with China. “You kick some butt, in my best economic analytical quantitative regression analysis,” Kudlow says.
So far, the president has imposed a 25 percent tariff on Chinese goods, which caused China to set up retaliatory tariffs on U.S. goods, especially agriculture products like soybeans and pork. Trump is taking action to potentially impose the same tariff on almost all remaining Chinese imports, worth about $300 billion. Some of those import targets include things like cell phones, clothing, footwear, televisions, and other electronics.