China economy

Trump threatens next round of China tariffs if Xi a no-show at G20

Trump in oval office
President Trump in the Oval Office. Photo: Jabin Botsford/The Washington Post via Getty Images

President Trump threatened Monday that China would face an additional $300 billion in tariffs if Chinese President Xi Jinping fails to appear at the G20 summit in Osaka, Japan later this month during a call with CNBC's "Squawk Box."

The big picture: Trump said he would be "surprised" if Xi didn't attend, adding that the two have a meeting scheduled during the summit. He said, "I have a great relationship with him. He's an incredible guy, great man. He's very strong and very smart but he's for China and I am for the United States."

Huawei to sell its undersea cable division

Photo: Budrul Chukrut/SOPA Images/LightRocket via Getty Images

China's Huawei is set to sell a majority slice of its undersea cable division to Hengtong Optic-Electric Co., a Chinese manufacturer of optical cables, per a Shanghai regulatory filing.

Why it matters, via Axios' Dan Primack: This is the first concrete indication that Huawei is scaling back some of its global infrastructure ambitions.