On Friday morning, the United States bumped punitive tariffs on Chinese products from ten percent to 25 percent. China has promised to retaliate, but has not taken any action at this point. White House Economic Advisor Larry Kudlow told Fox News China has invited U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to Beijing to resume negotiations. President Trump and Chinese President Xi are expected to meet during the G-20 summit next month in Japan.
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