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."

Some other highlights from Trump's nearly 30-minute phone-in:

  • The president's call was seemingly in response to an earlier appearance on "Squawk Box" by Myron Brilliant, the executive vice president of the U.S. Chamber of Commerce, which has spoken out against Trump's tariffs. Trump used a portion of his interview to disparage the organization, saying he might have to rethink his membership.
  • Trump called the Federal Reserve "very, very destructive" and once again criticized its recent moves to raise interest rates — as speculation mounts that the central bank may move to cut rates before the end of 2019.
  • He refused to say whether he believes Big Tech companies like Amazon and Google constitute a monopoly, but implied that some form of action could occur: "The European Union is suing them all the time. We are going to be looking at them differently. We have a great attorney general, we'll look at them differently."

Go deeper: Trump is wrong on how China tariffs work

Go deeper

Updated 3 mins ago - World

Hong Kong media tycoon Jimmy Lai arrested under national security law

Media tycoon Jimmy Lai at the Next Digital offices in Hong Kong in June. Photo: Anthony Wallace/AFP via Getty Images

Hong Kong pro-democracy activist Jimmy Lai has been arrested for "collusion with foreign powers," said Mark Simon, an executive at the tycoon's media firm Next Digital Monday morning local time.

Why it matters: He was arrested under the new national security law that gives Beijing more powers over the former British colony. Lai is the most prominent person arrested under the law, which prompted the U.S. to sanction Chinese officials, including Hong Kong leader Carrie Lam, over Beijing's efforts to strip the territory of its autonomy.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8:30 p.m. ET: 19,769,560— Total deaths: 729,351 — Total recoveries — 12,030,061Map.
  2. U.S.: Total confirmed cases as of 8:30 p.m. ET: 5,041,573 — Total deaths: 162,913 — Total recoveries: 1,656,864 — Total tests: 61,792,571Map.
  3. Politics: Pelosi says states don't have the funds to comply with Trump's executive order on unemployment — Mnuchin says Trump executive orders were cleared by Justice Department.
  4. States: New York reports lowest rate of positive coronavirus test results since pandemic began
  5. Public health: Ex-FDA head: U.S. will "definitely" see 200,000 to 300,000 virus deaths by end of 2020. 
  6. Schools: Nine test positive at Georgia school where photo showing packed hallway went viral — How back-to-school is playing out in the South as coronavirus rages on.

New York reports new low positive coronavirus test rate

People physically distancing at tables in New York City's Times Square in June. Photo: Johannes Eisele/AFP via Getty Images

New York Gov. Andrew Cuomo (D) announced Sunday 515 people, or 0.78% of those tested, returned a positive reading for COVID-19 the previous day.

Why it matters: It's the lowest single-day positive rate since the start of the pandemic. It's another sign that the state that was once a global coronavirus epicenter is curbing the spread of the virus. "Our daily numbers remain low and steady, despite increasing infection rates across the country, and even in our region," Cuomo said in a statement. "But we must not become complacent: Everyone should continue to wear their masks and socially distance."

Go deeper: Cuomo says all New York schools can reopen for in-person learning