ANALYST TAKE: "The Trump-Putin summit could have an impact on risk assets as the USA president continues to show a willingness to disrupt the established world order", said Neil Wilson, chief market analyst at Markets.com.
While noting increasing external uncertainties, Mao said the impact of China-US trade frictions, if any, would have been limited on the Chinese economy in the first half.
The Trump administration is hitting back at a number of countries for what it considers unjustified retaliatory tariffs that were imposed as a response to the steel and aluminum duties the USA applied on its closest allies in the name of national security. They will hold talks with senior Chinese officials, including President Xi Jinping and Premier Li Keqiang, on a raft of global economic and security challenges, including the Iran nuclear deal, the situation in Syria and climate change, among other issues.
President Trump and the U.S. Trade Representative's Office have said the China tariffs are meant to force that burgeoning country to change its trade policies and do more to prevent the theft of U.S. technology and intellectual property.
"The tariffs imposed by the United States on Canadian steel and aluminum are unacceptable and illegal", Adam Austen, the spokesman for Foreign Minister Chrystia Freeland, said in an emailed statement on Monday.
China has since accused the United States of expanding the scope of the trade conflict and stressed that it would not back down from a trade fight. Beijing has said it would retaliate, and on Monday the commerce ministry said it had added the $200bn tariff threat to existing WTO complaints it has lodged against Washington.
China's retaliatory tariffs, effective April 2, impose 15 to 25 per cent additional duties on United States dollars 3.0 billion in U.S. imports (based on 2017 trade values).
The two sides also agreed to establish a working group on WTO reforms.
The Center for China in the World Economy hinted that China could strike back by sanctioning Apple.
"Dear America, appreciate your allies, after all you don't have that many".
Trump told CBS's Face the Nation on Sunday that "I think the European Union is a foe, what they do to us in trade".
The meetings will also cover China's Belt and Road Initiative and geopolitical concerns in Burma, Afghanistan, Iran, and North Korea.
But China, the European Union and the others argue that is just an excuse.
Trade contributes less to China's economic growth than it did a decade ago but still supports millions of jobs.
He expects China's consumer prices to maintain mild growth in the second half, as the prices of food items including pork and cooking oil, likely to be pushed up by more expensive imported soybeans, are still relatively low.
"The best case is that the USA backs off".
In addition, Beijing and Brussels exchanged new offers in negotiations for a bilateral investment treaty that have been going on for four years and which, in the words of Li, have entered a "new phase". The federal government has said it's consulting with industry so even more can be done to address the diversion and dumping of aluminum and steel in the Canadian market.