President Trump's threat to impose tariffs on an additional $300 billion worth of Chinese goods if President Xi Jinping fails to meet him at the G20 summit in Japan, is not just about tariffs - it's about curbing misbehavior on the part of Chinese firms, like Huawei, and reforming bad trade deals to boost the USA economy, said Trump's top economic adviser Kevin Hassett.
The Chinese government would not confirm Tuesday that such a meeting will take place.
Trump said last week he would decide after the meeting of the leaders of the world's largest economies whether to carry out a threat to impose tariffs on at least $300 billion in Chinese goods.
Terry Branstad, the U.S. ambassador to China, is scheduled to meet with U.S. Vice President Mike Pence in Washington later Tuesday amid the ongoing negotiations. "I think he's going, I haven't heard that he's not".
China is not afraid of escalating the trade conflict with the US, Foreign Ministry spokesman Geng Shuang has indicated.
"Everyone's trying to get our money - China - and the China deal's going to work out, you know why?"
"In the end of the day Trump will win", Moore said, adding that China would love Joe Biden as President of the United States. It also wants curbs on subsidies for Chinese state-owned enterprises and better access for USA firms in Chinese markets.
Washington slapped 25 percent tariffs on $200 billion in Chinese goods in May, and announced plans to introduce duties on another $300 billion of imports - comprising virtually the entirety of the remaining non-taxed Chinese imports into the US. Beijing retaliated with tariff hikes on a revised list of $60 billion in United States goods.
"We're not the foolish country that does so badly".
The Chinese tech company has been battered recently, with the Trump administration blacklisting the company from trading in the United States and was trying to block it company from emerging 5G telecommunications networks around the world.
Investors worry China will retaliate by putting U.S. companies on a blacklist or banning exports to the United States of rare earth metals, which are used in products such as memory chips, rechargeable batteries and cell phones. The U.S. Fed is meant to act independently and make its decisions based on economic conditions, but Trump has pressured it to lower rates.
In an interview with a news channel, Trump said the Huawei dispute could be addressed as part of a trade deal with China.