Trump’s administration ‘close’ to make trade deal with China

Trump’s administration ‘close’ to make trade deal with China

For the G20 as a whole, Argentine Foreign Minister Jorge Faurie told AFP that the summit should stress the importance of trade itself.

"We want the G20 to be a mechanism for dialogue between the major global players", Faurie told Xinhua in the lead-up to the 13th G20 summit, which is scheduled for Friday and Saturday in Buenos Aires. Apart from the meeting with the United States president, Xi is expected to hold negotiations with Argentina's President Mauricio Macri, Russian President Vladimir Putin and other world leaders.

Several automakers said privately on Wednesday they feared GM's action could prompt Trump to take action faster than expected on new tariffs. The meeting is being held amid the ongoing trade war between the USA and China.

Who may have a "couple of extra hours" free at the summit?

Vladimir Putin may also get a similar grilling over the Sea of Azov conflict where on Sunday Russia fired three Ukrainian navy ships and seized the vessels along with 24 Ukrainian seamen.

"I would say that the G20 has lost a lot of the steam that it once had in the global financial crisis in 2008, 2009", Matthew Goodman, senior vice president at the Center for Strategic and International Studies in Washington, said during a briefing previewing the summit. But she will miss the summit's opening after her plane was forced to make an emergency landing in Cologne due to a technical problem.

How intense is the trade war?

Remember that the president's saber rattling against China has included a threat to impose tariffs on all US$500 billion worth of goods the USA imports from China, and "all" would seem to include cellphones and computers, which are the top two categories of USA imports from China based on value of goods.

He also threatened tariffs on $267bn of other Chinese exports to the US. U.S. President Donald Trump has suggested the country wants to raise tariffs on all imported automobiles to 25 percent.

Global markets are also rattled at the prospect of the impasse remaining unresolved, more so after the USA and China fell out over trade-related issues at the recent APEC summit, and, for the first time, no joint communique was released.

US calls China’s tariffs on American autos ‘egregious’ | Idaho Statesman

U.S. President Donald Trump said Thursday a trade deal with Beijing was "close" but added he might prefer not to reach one, cooling hopes for a breakthrough at a summit this week.

What can Crown Prince Mohammed expect?

British Prime Minister Theresa May has said she will meet the crown prince and deliver a "very clear" message. Saudi Arabia's de facto ruler arrived in Buenos Aires on Wednesday under a cloud of controversy over the murder of Saudi journalist Jamal Khashoggi in a Saudi consulate in Istanbul in October.

Just what is the G20?

The meeting could be a defining moment for the Group of 20, said Thomas Bernes of the Centre for International Governance Innovation, a Canada-based think tank focusing on global governance.

The member countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States.

"IFC invested a record $2.6 billion in India in FY2018 - a rise of 136 per cent over the figure two years ago - in the key priority areas of infrastructure, logistics, inclusion, and sustainability", IFC said.

Last year's summit, in the German city of Hamburg, was marred by violent protests. Also, South America region, which is hosting the event, is the region most interested in the G20 searches, show search results. It's part of the administration's plan to obtain what it sees as more favorable trade deals for the U.S.

And while over the next few days Mr Macri will want to make a good impression for his visitors, he's struggling with his reputation closer to home. The trade of blows is expected to continue till January.


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