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The White House said on Sunday that U.S. President Donald Trump wishes he had raised tariffs on Chinese imports even higher, after Trump implied to reporters that he had "second thoughts" about his latest round of tariffs. During the G7 meeting in France on Sunday, Trump was asked by reporters if he had second thoughts about his latest escalation of the trade war. "Yeah, sure. Why not?" Trump responded.

China said on Friday that it will for the first time impose tariffs on imports of U.S. crude oil. Starting on September 1, crude oil originating from the U.S. will face a tariff rate of 5%, according to Chinese authorities. U.S. shipments of crude oil to China have made up about 6% of total U.S. crude exports on average so far this year, according to data from the Department of Energy and the Census Bureau.

Iran's foreign minister Javad Zarif made a quick visit on Sunday to the G7 summit for talks with the summit host France, as Paris ramped up efforts to ease U.S.-Iran tensions. Zarif, who is under U.S. sanctions, flew to the southwest French town of Biarritz where the G7 leaders are meeting. He held over 3 hours of talks, including with French President Emmanuel Macron, before heading back to Tehran. "Road ahead is difficult. But worth trying," Zarif tweeted, adding that in addition to meeting French leaders he had given a joint briefing to officials from Germany and Britain. "The discussions that were held between the president and Zarif were positive and will continue," a French official said after the meeting.