Among the bilateral meetings Trump's top finance chief will hold while in Fukuoka are those with the finance ministers of Japan, Germany, France and Italy along with the People's Bank of China Governor Yi Gang.
"China does not want to fight a trade war, but also is not afraid of one. we'll adopt necessary countermeasures and resolutely safeguard the interests of China and its people". The U.S. administration expressed disappointment in the paper, saying that the regime had misrepresented the trade negotiations between the two countries.
The leaders met in December on the sidelines of the G20 meeting. But progress in overhauling the WTO, which still functions under rules created a quarter of a century ago, has been slow, partly because of US actions to block appellate judge appointments.
Thus, the issue of current account imbalances should be corrected through global cooperation on macroeconomic policies rather than bilateral trade deals, Finance Ministry officials have argued.
Still, trade friction is an unpredictable factor that might drag down growth, although the global economy will likely regain momentum in the second half of the year, Kuroda told reporters.
-China trade war, finance leaders from the Group of 20 nations kicked off a two-day meeting Saturday in Fukuoka to discuss measures to guard against economic risks.
House Judiciary Committee launches anti-trust probe into tech giants
In 2013, the FTC closed an antitrust investigation of Google over whether it favored certain search results, among other things. President Donald Trump and many Republicans have complained that Facebook, Google and Twitter Inc. suppress conservative views.
After Trump made his initial remarks on June 6, China's Ministry of Commerce swiftly responded in a hawkish tone. Counting in cross-border service trade and service sales of affiliated institutions, overall U.S. trade deficit to China should be around 153.6 billion dollars, some 37 percent of USA figure for goods trade deficit to China, the report showed.
US Treasury Secretary Steven Mnuchin is scheduled to meet with People's Bank of China Governor Yi Gang this weekend at a gathering of G20 finance leaders in Japan, the first face-to-face discussion between key negotiators in almost a month.
Treasury Secretary Steven Mnuchin said President Trump retains the authority to impose tariffs on Mexico if it fails to live up to its agreement to stem the flow of Central American immigrants crossing into the U.S. "If not, as the president said, we'll move on with tariffs", said Mnuchin.
Relations between the world's two largest economies have nosedived in recent months due to a tariffs battle, US sanctions against Chinese telecoms giant Huawei Technologies Co Ltd and USA support for Chinese-claimed Taiwan.
International Monetary Fund chief Christine Lagarde singled out trade tensions as the "major" headwind facing the global economy, adding that it was a "significant risk on the horizon", in an interview with Japan's Nikkei daily on Sunday.