Mr. Trump is expected to meet with President Xi Jinping of China in late June, a critical encounter that could determine whether the world’s two largest economies can resolve their dispute. Talks between the two countries fell apart last month, with Mr. Trump accusing China of reneging on a trade deal and China insisting that the United States was not negotiating in good faith.

Tensions have since increased as Mr. Trump raised tariffs on $250 billion worth of Chinese goods and threatened to tax nearly all Chinese imports. Beijing has responded with higher tariffs on American goods, and in a white paper released last Sunday, Chinese officials vowed to “never give in” on issues of principle.

Mr. Trump will make a decision about the next round of tariffs after his meeting with Mr. Xi.



“We are not far from a real and open trade war between China and the U.S.,” Bruno Le Maire, France’s finance minister, said in an interview on the sidelines of the gathering on Sunday. “I think all the G-20 people are aware that kind of situation would lead to an economic crisis, to a lack of growth and to a slowdown everywhere in the world.”

Mr. Mnuchin met on Sunday with Yi Gang, the governor of the People’s Bank of China. It was the first face-to-face contact between officials from the two countries since the talks broke down last month. Mr. Mnuchin, in a tweet, described their discussion of trade as “candid.”

But he said he had no plans to return to Beijing before Mr. Trump and Mr. Xi meet and that Chinese officials would not be traveling to Washington. The Treasury secretary, who has shuttled back and forth to China several times in the past year, said he had had no contact with Liu He, the Chinese vice premier and top trade negotiator, since early May.