Trump eyes more China tariffs, pushing total upwards of $500bn

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"If need be, if things don't work out in this U.S".

But Monday during a Wall Street Journal interview, he suggested Americans' reactions might not be severe if they had to pay more for smartphones and notebook computers.

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

Trump said it is "highly unlikely" that he would accept China's request to hold off on raising the tariffs, according to the Journal.

Russia's Deputy Foreign Minister Sergey Ryabkov said on Monday that Moscow hopes the meeting will provide clarification about the United States stance on the Intermediate-Range Nuclear Forces (INF) Treaty. Kudlow said there were no scheduled talks on the ground for their advisers.

All three major US indexes finished positive after spending much of the session in negative territory, as Kudlow said there is an opportunity to "turn the page" on a trade war with China.

"People want to believe that something good is going to come from the G20" meeting, said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC in NY.

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Cellphones and computers, among China's biggest exports to the United States, have thus far been spared as the administration has sought to minimise the impact on U.S. consumers. Trump's threat comes as the tech giant weathers concerns about slowing demand for the iPhone that have pushed company shares into a bear market in recent days.

"Although the current economic situation in the U.S.is good, people can not rule out the possibility of another-I don't want to use the word "crisis"-a similar situation as what happened 10 years ago", he warned".

Jack Ma, the founder of Alibaba was outed by Chinese media, but the revelation shows how party loyalty trumps all with Xi Jinping's China.

Asked whether the two sides had agreed on a list of agenda items for the leaders to discuss, Kudlow said: "We're in some significant preparation on all that".

Trump added: "I don't like that aggression".

"The only deal that would really be acceptable to me, other than obviously we have to do something on the theft of intellectual property rights, the only deal would be China has to open up their country to competition from the United States, " he said.

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

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