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Trump: 'We Are Right Where We Want to Be With China'

© REUTERS / Jason LeeA US 100-dollar banknote with a portrait of Benjamin Franklin and Chinese 100-yuan banknotes with portrait of late Chinese Chairman Mao Zedong are seen in the picture illustration in Beijing, China
A US 100-dollar banknote with a portrait of Benjamin Franklin and Chinese 100-yuan banknotes with portrait of late Chinese Chairman Mao Zedong are seen in the picture illustration in Beijing, China - Sputnik International
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The trade dispute between the United States and China, the world’s two biggest economies, has been escalating for over a year. Both nations have repeatedly slapped billions of dollars worth of retaliatory tariffs on each other's goods as the rivalry between them has soared.

US President Donald Trump tweeted on Sunday that Beijing broke its trade deal with Washington and vowed to take "in Tens of Billions of Dollars in Tariffs from China".

Earlier, Trump urged China not to wait for the 2020 US presidential elections and quickly strike a trade deal, stressing that a new post-election deal could be "far worse" if it has to be negotiated in a  second Trump term.

U.S. President Donald Trump, second right, and China's President Xi Jinping, second left, attend their bilateral meeting at the G20 Summit in Buenos Aires, Argentina. - Sputnik International
Trump on Trade War With China: US Is ‘Going to Win Either Way’
White House Economic Adviser Larry Kudlow said in an interview with Fox News that Trump may meet Chinese counterpart Xi Jinping at the G20 summit in Japan at the end of June.

The news comes on the heels of a recent decision by Trump to increase tariffs on about $200 billion worth of Chinese imports, from 10 percent to 25 percent. The president also ordered tariffs to be raised on all remaining US imports from China, valued at around $300 billion.

READ MORE: US-China Trade Talks End as Trump Boasts That Tariffs are Better Than Deal

Earlier this week, Trump stated that the removal of sanctions would depend on the outcome of future negotiations between Washington and Beijing. He added that the latest tariffs, which went into effect on Friday, would produce "massive payments" that would go directly to the US Treasury Department.

The G20 summit in the Japanese city of Osaka is slated to take place from 28-29 June.

READ MORE: Analysts Suggest Trump Nuclear Talks Invitation to China Aggravates Tension

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