Jun 10, 2019

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

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

China approves Hong Kong national security law

Hong Kong riot police round up a group of protesters during a demonstration on Wednesday. Photo: Willie Siau/SOPA Images/LightRocket via Getty Images

Chinese lawmakers approved a plan on Thursday for a sweeping national security law for Hong Kong that would criminalize sedition, foreign influence and secession in the Asian financial hub.

Why it matters: China bypassed Hong Kong's legislature and chief executive to introduce the law, prompting Secretary of State Mike Pompeo to announce Wednesday that the city is no longer autonomous from the Chinese mainland and does not warrant special treatment under U.S. law. President Trump indicated Tuesday that he planned to announced further sanctions against China over the move.

Go deeper: Hong Kong's economic future hangs in the balance

Editor's note: This is a developing news story. Please check back for updates.

18 mins ago - World

Minneapolis unrest as hundreds protest death of George Floyd

Protesters and police clash during demonstration on Wednesday over the death of George Floyd in custody outside the Third Police Precinct. Photo: Kerem Yucel/AFP via Getty Images

A man died in a Minneapolis shooting during a second night of clashes between police and protesters in the city over the death of George Floyd, an African American man who died in police custody, per AP.

The latest: Police said officers were responding to reports of a stabbing just before 9:30 p.m. and found a man lying in "grave condition on the sidewalk" with a gunshot wound, CBS Minnesota reports. On man is in custody over the incident.

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 5,695,968 — Total deaths: 355,701 — Total recoveries — 2,351,638Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 1,699,933 — Total deaths: 100,442 — Total recoveries: 391,508 — Total tested: 15,192,481Map.
  3. Public health: CDC issues guidelines for reopening officesFauci says data is "really quite evident" against hydroxychloroquine.
  4. States: California hospitals strained by patients in MexicoTexas Supreme Court blocks mail-in expansion to state voters.
  5. Business: MGM plans to reopen major Las Vegas resorts in June — African American business owners have seen less relief from PPP, Goldman Sachs says.
  6. Tech: AI will help in the pandemic — but it might not be in time for this one.
  7. World: EU proposes a massive pandemic rescue package.
  8. 1 🎶 thing: Local music venues get rocked by coronavirus.
  9. 🎧 Podcast: Trump vs. Twitter ... vs. Trump.
  10. What should I do? When you can be around others after contracting the coronavirus — Traveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  11. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Updated 1 hour ago - Politics & Policy