Trump says Federal Reserve is 'very, very destructive' to economy

President Donald Trump returns to the White House Friday after visiting Britain and France

The long-running trade spat between the U.S. and China continued to escalate on Monday, with Trump threatening to impose fresh tariffs on the remaining $300 billion" worth of Chinese goods "immediately' if Xi did not meet him at the upcoming G20 meeting in Osaka, Japan later this month to hammer out a trade deal.

Mr Trump has repeatedly criticised the Federal Reserve and called on the independent policymakers to lower the benchmark interest rate but he said in an interview with CNBC "they certainly didn't listen to me because they made a big mistake".

Trump says he is ready to slap tariffs on a further $300 billion in Chinese imports if no breakthrough is achieved.

"If we do, that's fine and if we don't, that's fine", Trump said.

In his interview with CNBC, Trump said the Huawei dispute could be addressed as part of a trade deal with China.

The two biggest economies in the world seemed to be close to striking a bargain until talks stalled last month. Washington has accused Beijing of reneging on various terms the United States thought they had agreed on, although China has rejected the claim.

The president said the same strategy will work in the United States trade talks with China.

The "actually going to be leading very shortly". In the past year, Trump has imposed large import penalties on $250 billion in Chinese goods. The two countries reached an agreement calling for tighter migration controls.

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Trump appeared to call in to offer a direct response to a TV interview in which U.S. Chamber of Commerce Executive Vice President Myron Brilliant criticized the president's tariffs and tariff threats.

In a wide-ranging interview with CNBC, Trump also said disputes over Chinese tech giant Huawei Technologies could be addressed as part of any USA trade deal with China.

"China's going to make a deal because they're going to have to make a deal". You'd have vehicle plants going up all over the country, and there would be no tariff. "Because right now they are getting absolutely decimated by companies that are leaving China, going to other countries, including our own, because they don't want to pay the tariffs", he said.

President Trump argued that "something is going on" with the growing power of tech companies, pointing out that the European Union is "suing them all of the time".

"We should be entitled to have a fair playing field, but even without a fair playing field - because our Fed is very, very destructive to us - even without a fair playing field, we're winning, because the tariffs are putting us at a tremendous competitive advantage", the president added, referring to the ever-escalating US-China trade spat.

He added: "And I think he will go an I think we are scheduled to have a meeting". "China wanted to go backwards on certain things". Almost one-in-five said they would modify production to add value outside of China, while 10 percent planned to shutter manufacturing assets in the country. Now "they'll never catch us".

He said if a trade deal is not struck in the near future, "there are another 60 percent and that'll be taxed". Most importantly, trade and geopolitical tensions have intensified. "They take advantage of us in every way possible".

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