New Tariffs Could Hit Laptops, iPhones, Trump Says

Apple Stock Drops as Trump Discusses Potential iPhone Tariff

'The only deal would be China has to open up their country to competition from the United States, ' Trump said.

But Kudlow warned that if China holds out against USA demands, Washington could ramp up the trade war.

"Perhaps we can break through in Buenos Aires or not", he said.

The issue is the biggest looming over Trump's visit to Argentina, with the two economic giants locked in exchanges of punitive tariffs and Washington effectively threatening to impose sanctions on all remaining Chinese imports, including Apple products made in China. "President Trump has indicated he is open - now we need to know if President Xi is open".

Ahead of the G20 meeting in Argentina, which begins on Friday, the United States president used a newspaper interview to warn China that he expects to move ahead on the imposition of higher import tariffs on Chinese goods.

At a regular news briefing in Beijing on Tuesday, Chinese foreign ministry spokesman Geng Shuang reiterated China's hope that both sides could work towards a "positive outcome" from the meeting between the two leaders, citing a "consensus" they reached during a November 1 telephone call.

"The upcoming meeting between Trump and Xi is pivotal going into the year-end and for the outlook for global growth, which has shown signs of slowing", said Lee Hardman, a currency analyst at MUFG in London.

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"It's a dinner party-kind-of-thing", Kudlow said.

Melania Trump will escort her husband to the summit.

National Security adviser John Bolton said Trump will also be meeting with German Chancellor Angela Merkel, Japanese Prime Minister Shinzo Abe, Argentine President Mauricio Macri, South Korea's Moon Jae-in, Turkish President Recep Tayyip Erdogan and Indian Prime Minister Narendra Modi.

"I don't think anybody on our team is on pins and needles about the communique".

On Monday, the president said the US did not approve of escalating violence between Russian Federation and Ukraine, but didn't specifically call out Russia's behavior. If we got one, it's got to be something we agree with.

Kudlow was involved in a clash between the White House and allies in the G7 group of nations in June, when Trump rejected a statement agreed to by his fellow leaders.

"I wouldn't say we've ruled out any interaction", she said, although she stressed that "the president's schedule is pretty packed".

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