Trump says Federal Reserve policies are "very destructive" to USA economy

MT PLEASANT WI- JUNE 28 President Donald Trump speaks to guest during a groundbreaking ceremony for the $10 billion Foxconn factory complex

Trump has imposed 25 per cent tariffs on $250 billion worth of Chinese exports and is preparing to expand them to cover another $300 billion. "They certainly didn't listen to me because they made a big mistake", he said. "We're expected to meet".

Washington and Beijing are negotiating a trade deal after the White House accused China of intellectual property theft and employing unfair trade practices.

China's foreign ministry said on Monday that China is open for more trade talks with Washington but has nothing to announce about a possible meeting.

Geng said that if the USA was ready to hold "equal consultations" the door was wide open.

"If the United States only wants to escalate trade frictions, we will resolutely respond and fight to the end", Geng added. He said this will lead to a "40 state re-election landslide" victory for Trump in 2020.

President Donald Trump appeared this morning on CNBC's Squawk Box, talking about tariffs and trade. The two countries reached an agreement calling for tighter migration controls.

Mexico also agreed to take back more Central American asylum seekers who cross their territory en route to the U.S. That is an expansion of the Migration Protection Protocols, a program that the U.S. announced previous year that has been tried on a small basis but will now be in effect borderwide.

Mexico's foreign minister says his government is willing to work with the Trump administration to stop the flow of migrants coming to the US, but that issuing tariff threats isn't the way to solve this crisis; Garrett Tenney reports from Washington.

More news: Oil extends gain on supply cut, weak economy strains outlook

Mr. Trump has repeatedly called out the Fed and Powell for what the president sees as the central bank's failure to support economic growth, saying in 2018 that the Fed is a "much bigger problem" for the USA than China. You know, we're leading in everything.

He was earlier blasted by the U.S. Chamber of Commerce (USCC) for weaponizing tariffs and hurting the United States. "And China will, in my opinion, based on a lot of facts and a lot knowledge, China's going to make a deal because they're going to have to make a deal".

On Monday Trump told CNBC in a phone call he would add the tariffs if the two leaders can not come together despite there being no sign that the Chinese president is planning to dodge him at the event.

Mr. Trump bristled at those naysayers and said he would prove them wrong.

"If we do, that's fine and if we don't, that's fine", the president said. So now we have restrictions on that too, which we put in under my administration, very recently because they were buying all of our companies.

However, as the United States economy shows signs of slowing, more and more economists - and one voting member of the Fed's policy committee - now say the next move will be to cut rates to support growth, possibly this year. "We will continue to address these risks and stand ready to take further action".

Washington last month put Huawei on a blacklist that effectively bars USA firms from selling to the company without government approval. -China standoff on tariffs could cut a half-percentage point from the global economy in 2020.

"China. will never allow certain countries to use China's technology to contain China's development and suppress Chinese enterprise", the main state-run newspaper declared.

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