As the trade war between the U.S. and China escalates, the U.S. President has warned there's a lot more he could do to hurt China's economy.<br />His comments, however, come amid reports of a planned summit between him and Chinese PResident Xi Jinping.<br />Ro Aram has more. <br />In an interview on Fox News on Thursday, President Trump praised his tariffs on Chinese imports.<br />He said they've had a "big impact" in damaging China's economy, claiming Washington's trade deficit with Beijing has gone down substantially.<br />The Trump administration has so far imposed tariffs on 250 million dollars-worth of Chinese goods, with Beijing retaliating in kind. <br />President Trump added he could do a lot more if he wanted to, but said he would prefer Beijing come to the negotiating table.<br />He said although the Chinese want to negotiate, he does not believe they are ready.<br />He also blamed previous U.S. presidents for allowing China to pursue unfair trade practices and said he had to tell Beijing, "It's over."<br />Despite the rhetoric, Trump and Chinese President Xi Jinping are reportedly set to meet soon to try and defuse tensions.<br />The Wall Street Journal, citing officials in both countries, reported that the two leaders will meet at the G20 summit in Argentina late next month.<br />The meeting was said to have been pushed by U.S. Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow.<br />The on-going trade spat between the two world powers has taken its toll on the global economy.<br />The IMF has cited the trade war as one of the reasons it lowered its 2019 growth forecast for China, which is set to see its slowest expansion since 1990.<br />The IMF has also lowered estimates for the United States and the global economy as a whole.<br />Ro Aram, Arirang News. <br />
