Trump open to deal with Xi at dinner but with conditions: Kudlow


The UBS analyst Timothy Arcuri said those threats could simply be a "negotiating tactic" ahead of the G20 summit, when Trump is expected to meet with Chinese President Xi Jinping.

The administration has tried to soften the impact on US consumers, carving out tariff exemptions for consumer goods from brands like Lenovo, Apple and Huawei.

"I happen to be a tariff person because I'm a smart person, OK?" he told the Wall Street Journal.

"If we don't make a deal, then I'm going to put the..."

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In an interview with the Wall Street Journal, Trump said it was "highly unlikely" he would accept China's request to hold off on the increase, which is due to take effect on January 1.

Economists at the Dutch lender Rabobank said the world economy could suffer badly over the next decade if the US-China trade war escalates further, with as much as 2% of GDP growth lost by 2030.

Investors will now turn their attention to a speech on Wednesday by Fed Chairman Jerome Powell and minutes from the central bank's November 7-8 meeting to be released on Thursday, for further clues of how many more times the Fed is likely to raise interest rates. Beijing responded by slapping $50 billion of US products with additional levies before Trump escalated the trade dispute further by adding taxes to another $200 billion in Chinese products.

Trump added: "I don't like that aggression". Washington is however open to reaching a deal with Beijing, with White House economic adviser Larry Kudlow saying the US President is expecting this to take place over a dinner on Saturday.

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The strait is crossed by the recently completed Kerch Bridge, connecting Crimea to Russian Federation . Russian media cited authorities as saying that Kyiv had sought to "create a conflict situation ".

"Maybe. Maybe. Depends on what the rate is", Mr Trump said, referring to the possibility of tariffs on mobile phones and laptops, according to the Wall Street Journal.

An escalation of the Sino-American trade conflict could lead to a repeat of the great catastrophes of the 20th century, a Chinese envoy has warned, just as Donald Trump once again threatened to slap China with additional tariffs.

'We can buy from Japan and South Korea or develop our own. Once the chain is broken, the United States would be affected too'.

China has retaliated but has less room to manoeuvre as the United States buys much more from China than it exports there.

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Asked point-blank if he can count on Trump, Poroshenko answered diplomatically: "This is the global obligation of the United States".