Squawk Box anchors discuss how the U.S.-China trade war has played out at the G20 finance minister meeting in Fukuoka, Japan, where U.S. Treasury Secretary Steven Mnuchin tells CNBC exclusively that President Trump is readying himself to make the next move after he meets President Xi later in June. He also says Trump will insist on keeping the threat of more tariffs on the table. U.S. futures have risen after President Trump decided not to slap tariffs on Mexico after reaching a deal on illegal immigration enforcement. Chinese equities are also trading firmly in the green after China’s trade surplus came in higher than expected. In M&A news, United Technologies and Raytheon have teamed up in an all-stock tie-up to create the second-largest U.S. defence company, while French finance minister Bruno Le Maire tells CNBC that his government’s priority is to strengthen Renault’s alliance with Nissan, following the collapsed merger with FCA.  

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