President Donald Trump confirmed on Monday that additional tariffs on Chinese goods will be levied if Chinese President Xi Jinping does not attend this month’s G-20 meeting.
When asked during a telephone interview if that means the new tariffs would go into effect immediately, Trump told CNBC’s Becky Quick, “Yes, it would.”
The president previously threatened to put levies on another $300 billion in Chinese goods if a trade agreement is not reached soon. The Trump administration increased tariffs last month on $200 billion worth of goods the U.S. imports from China.
Trump is supposed to meet with Xi at the G-20 summit, which is scheduled for June 28-29 in Osaka, Japan. The leaders of 19 nations and the European Union are expected to attend.
In the telephone interview on “Squawk Box, ” the president said he’d be surprised if Xi did not attend. Trump said he has “a great relationship” with Xi, adding that “he’s actually an incredible guy.”
As the trade war between the U.S. and China continues, Trump has said he will continue raising tariffs on Chinese goods. He said his administration is currently taxing “35% to 40%” of the Chinese goods the U.S. imports. If an agreement isn’t reached, there are “another 60% and that’ll be taxed,” Trump said.