0728 GMT September 18, 2019
At a meeting between British Prime Minister Boris Johnson and Trump, Johnson again pressed a common message from European leaders at the summit about Trump's escalating trade war with China, AFP reported.
"Just to register a faint, sheep-like note of our view on the trade war – we are in favor of trade peace on the whole," Johnson told Trump.
The 73-year-old US leader promised Johnson "very big trade deal, bigger than we've ever had", but couldn't resist another undiplomatic dig at the European Union.
But to the relief of his partners, Trump also appeared to back off from a threatened further escalation in his battle with China.
"I think they respect the trade war. It has to happen," Trump told reporters.
Asked whether he was having second thoughts, he replied: "I have second thoughts about everything."
Amid an escalating trade war between the world’s two largest economies, China’s ruling Communist Party’s People’s Daily said on Sunday that the country will fight back against the latest US step to increase tariffs on Chinese goods.
“China is confident that it will follow its own path and do its own things well, and will never waver in its stand on countering any provocations by the US side,” the newspaper said in a commentary, Reuters reported.
US politicians, seeking to hamper China’s economic development, still want to use the tactics of exerting maximum pressure on China that has achieved few results, the paper said.
The United States will not win the trade war because of the plight faced by its farmers and businesses, it said.
China said on Saturday it strongly opposes Washington’s decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences if it does not end its “wrong actions”.
“Such unilateral and bullying trade protectionism and maximum pressure violates the consensus reached by head of China and United States, violates the principle of mutual respect and mutual benefit, and seriously damages the multilateral trade system and the normal international trade order,” China’s Ministry of Commerce said in a statement.
Trump announced on Friday that Washington will impose an additional 5% duty on the Chinese goods, hours after Beijing announced its latest retaliatory tariffs on about $75 billion worth of US goods in the latest tit-for-tat moves in their bilateral trade dispute.
The intensifying US-China trade war stoked worries about a global economic recession.
G7 summits, gathering Britain, Canada, France, Germany, Italy, Japan and the United States, were once a meeting of like-minded allies, but they have become a diplomatic battlefield in the Trump era.
"This may be the last moment to restore our political community," EU Council president, Donald Tusk, said on Saturday.