On Monday, Trump told business news channel CNBC that he is ready to impose another round of punitive tariffs on Chinese imports if he can not make progress in trade talks with Xi in Osaka. Since President Trump first implemented the tariffs, the communist regime has been battered by economic uncertainty and faltering growth while the US has enjoyed a level of prosperity not seen for a generation.
Mexico's foreign minister says his government is willing to work with the Trump administration to stop the flow of migrants coming to the USA, but that issuing tariff threats isn't the way to solve this crisis; Garrett Tenney reports from Washington.
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".
The International Monetary Fund (IMF) also recently concluded that US tariffs have had a "significant" impact on China, causing the IMF to lower its forecast for China's future growth.
In retaliation, China has slapped tariffs on $110 billion worth of United States goods.
"Everyone's trying to get our money - China - and the China deal's going to work out, you know why?" Washington and Mexico City reached a deal on Friday to avert the tariffs, removing for the time being at least the prospect that the United States would find itself in trade wars with two of its three largest trading partners.
President Donald Trump warned that if Chinese President Xi Jinping failed to meet with him at the annual G20 summit, the USA would slap additional tariffs on $300 billion worth of Chinese imports. Several Japanese machinery manufacturers also said they would move some of its production lines out of China.
He said that he wants China to do well, but that "I don't want them to do as well as us".
"Don't forget, the head of the Fed in China is President Xi".
"If the United States only wants to escalate trade frictions, we will resolutely respond and fight to the end". -China trade relationship, President Donald Trump has focused on China's huge surplus in bilateral trade-$419 billion in 2018-as proof the Chinese are "cheating" and "raping" the US economy.
Washington has put Huawei on a blacklist that effectively bars US firms from selling to the company without government approval.
His overall aim, the Republican said, is to ensure that China never overtakes the United States as the world's top economy. Now "they'll never catch us".
"People see 5G, but we see beyond that", he said.