WASHINGTON — President Donald Trump says if Chinese President Xi Jinping (shee jihn-peeng) doesn't meet with him at the upcoming Group of 20 summit in Osaka, Japan, this month, additional tariffs will go into effect.
But Trump says he expects Xi to attend.
Trump made the threat during an interview with CNBC's "Squawk Box" on Monday morning. Trump appeared to have called in response to the U.S. Chamber of Commerce, which had criticized Trump for using the threat of tariffs to force Mexico to do more to halt the flow of migrants across the U.S. southern border.
Trump is going after the chamber, saying it has its priorities wrong.
Trump says: "They have to start representing the United States, not just the companies that are members of the U.S. Chamber of Commerce."
Meanwhile, the Chinese government reported Monday that China's trade surplus soars, as exports unexpectedly edge up om May, a surprise for markets. However, analysts say the rebound is likely to be short-lived given higher U.S. tariffs and slowing global growth.
China's monthly trade surplus jumped 78% to $41.7 billion, as exports rose 1.1% to $213.8 billion and imports fell 8.5% to $172.2 billion, the Chinese customs agency said.
The fall in imports reflects weak domestic demand, analysts said. The rise in exports came despite a worsening trade war with the United States in which both countries have raised tariffs on each other's products.
"While exports rose in May, weaker global demand and the escalating trade war suggest that they will start to fall again before long," Capital Economics said in an analysis.
Citi Research, a division of Citigroup Global Markets, likewise said that improved export growth will likely be transitory.
China's trade surplus with the United States rose to $26.9 billion, driven by a month-to-month increase in exports to $37.7 billion. Imports from the U.S. were up slightly from April at $10.8 billion.