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

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

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

The announcement came shortly after Trump had told reporters as he left the White House that the summit would be a "very good time" for a meeting with Putin.

While Trump and his advisers have expressed optimism that the two sides will reach a deal at the meeting, they have also warned that China hasn't yet offered the sort of meaningful concessions that the Trump administration wants to see.

The trade war between the two economic giants may possibly even escalate.

The Trudeau government is also expecting the October murder of Saudi journalist Jamal Khashoggi to be raised at the G20, given the attendance of Saudi Arabia's Crown Prince Mohammed bin Salman.

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

"My key message at the G-20 will be that to enjoy the prosperity, security and connectedness we have today, we must protect the worldwide system", he said. There will be one-on-one meetings with allies such as Japanese Prime Minister Shinzo Abe and South Korean President Moon Jae-in as Trump looks to build a unified front against North Korea.

Russian presidential aide Yury Ushakov said that the presidents would discuss bilateral issues, including how to break the deadlock in relations between the two countries and start looking for ways to normalize ties.

Business Insider chose to take a look at some of the major businesses and industries that have explicitly blamed the president's trade war for a negative impact on their situation.

The Trump administration is exploring a deal to delay further tariffs on Chinese imports in exchange for decisive talks about overhauling Beijing's economic policy, it was reported last night.

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

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.

Presidents Donald Trump and Xi Jinping are expected to address what the US calls China's theft of American technology and IP when they meet Saturday evening at the two-day G20 summit in Buenos Aires.

The US has hit a total of $250bn of Chinese goods with tariffs since July, and China has retaliated by imposing duties on $110bn of US products.

"But I think doing it in a multilateral way would have been a better approach", she said.

Global indignation over Khashoggi's murder, which was carried out inside Saudi Arabia's consulate in Istanbul on 2 October, continued on Thursday as Canada slapped sanctions on 17 Saudi nationals allegedly linked to his murder.

In the lead-up to Saturday's dinner Trump has oscillated between trying to appear tough and committed to his tariffs-driven strategy and opening the door to a deal with Xi.

"The China-U.S. summit is just around the corner", Geng said. But the gathering of leaders from the world's top industrialized and emerging nations will be eclipsed by discussions and controversy on the sidelines.

Volvo, which is owned by Chinese carmaker Geely, plans to move most of the production of its best-selling XC60 SUV for export to the USA market away from its Chengdu plant in China to Torslanda in Sweden. A chance to show world leaders that with Mauricio Macri at the helm, the country meant business.

Mr Morrison will join Mr Trump and other world leaders in a series of sessions on Friday and Saturday (Argentina time) dealing with such issues as anti-corruption, education, jobs, climate and energy. It's not great timing for a president who is expected to seek re-election next year.

Latest News