Trump says he may cancel Putin meeting, White House warns Xi

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What's the endgame in the US-China trade war?

U.S. President Donald Trump said on Monday he expected to move ahead with raising tariffs on $200 billion in Chinese imports to 25 percent from the current 10 percent.

Trump is hopeful for a breakthrough with Xi but is ready to impose more tariffs if the upcoming talks don't yield progress, Larry Kudlow, Trump's top economic adviser, told reporters Tuesday during a briefing ahead of the Group of 20 meeting in Argentina.

"If there's no breakthrough, that makes it more likely that more tariffs will be imposed and that increases downside risks to trade".

Hugo Erken, senior economist at the bank, said: "An ongoing trade war between the world's two largest economies has much broader ramifications that transcend their own borders ... in a globalised economy, there are no real winners from such policies".

"Perhaps we can break through in Buenos Aires or not", he said.

"Maybe. Maybe. Depends on what the rate is", Trump said, talking about phones and laptop computers.

The Trump administration has blasted Moscow's latest actions in Ukraine, a former Soviet republic, but the president himself has given a far lower key response.

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"If we don't make a deal, then I'm going to put the US$267 billion additional (tariffs) on", at a tariff rate of either 10% or 25%, Mr Trump told the media publication.

In September, Apple won a reprieve from the initial 10% tariff on some of the company's products-including the Apple Watch, Apple Pencil, and AirPods-after the company wrote a letter to United States Trade Representative that said the action would increase prices for USA consumers.

At a regular news briefing in Beijing on Tuesday, Chinese foreign ministry spokesman Geng Shuang reiterated China's hope that both sides could work towards a "positive outcome" from the meeting between the two leaders, citing a "consensus" they reached during a November 1 telephone call.

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

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

In recent months the United States and China have been engaged in rather heated negotiations regarding global trade deals, and the U.S. has leveraged tariffs in an attempt to gain the upper hand.

Reports suggest that the U.S. government and China are close to closing a deal which could help reverse ZTE's failing fortunes.

"They have to open up China to the United States".

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