G20 members struggle for agreements ahead of Argentina summit

Dec 01, 2018, 01:45
G20 members struggle for agreements ahead of Argentina summit

China said it remained hopeful of a deal and, after earlier indicating pessimism, Mr Trump said on Friday: "They want to and we'd like to".

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

Although Trump said this month that the G20 represented the ideal opportunity to "make a deal with China", should a deal not be reached, the situation could escalate quickly, devastating stock-market returns for the next year.

The Journal report, citing unnamed officials on both sides of the Pacific, said it was unclear whether the meeting this weekend between U.S. President Donald Trump and Chinese President Xi Jinping in Buenos Aires would produce any agreement.

NASA's Martian quake sensor In Sight lands at slight angle
NASA's Martian quake sensor In Sight lands at slight angle

On the trade war front, White House economic advisor Larry Kudlow said on Tuesday trade talks between the USA and China have been heating up ahead of the summit. His agenda Friday is expected to include meetings with world leaders, the signing of a revamped trade deal with Canada and Mexico, as well as a number of group activities for the gathering of rich and developing nations.

Kudlow's comments come after Trump reiterated a threat Monday to tack on duties on an additional $267 billion in Chinese exports if a trade deal isn't reached.

President Trump said recently that current tariff levels on $200bn (£157bn) of Chinese imports would rise as planned.

The United States has imposed import taxes on $250 billion worth of Chinese products and China has countered by targeting $110 billion in USA imports.

Holy cow! Meet Knickers the giant steer, too big to be slaughtered
That title belongs to Bellino, an Italian steer who stands about 2 in. taller than Knickers, reports The Guardian . Holstein-Friesians are a dairy breed and normally weigh in at about 1,500 pounds and stand about 4ft 1ins tall.

White House press secretary Sarah Huckabee Sanders, who had accompanied Trump to the breakfast meeting with Argentina's President Mauricio Macri on Friday morning, said at the end of the meeting that Argentina's views were in line with Trump's regarding China's trade practices.

In an interview with the Wall Street Journal four days ahead of his high-stakes meeting with Chinese President Xi Jinping in Argentina, Trump said it was "highly unlikely" he would accept China's request to hold off on the increase, which is due to take effect on January 1.

Washington and Beijing remain at odds on key issues such as USA accusations of intellectual property theft and forced technology transfer, he said.

US tariffs on steel and aluminum remain in place, but a Canadian official said an advantage to signing onto the agreement now is an auto side letter exempting Canada of potential tariffs on exports of up to 2.6 million vehicles - well above current levels.

Kei Nishikori admits to a poor week despite toppling Roger Federer
Federer grabbed a break in the third game against a nervous-looking Thiem and a second for 5-2 on his way to taking the first set. The 28-year-old leads their head-to-head 3-1 and thumped him 6-3 6-1 in Vienna just a couple of weeks ago.

Cell phones and computers, among China's biggest exports to the United States, have been spared as the administration has sought to minimize the impact on US consumers.

Apple CEO Tim Cook has personally pressed the issue of tariffs with Trump, telling the president that while there are valid concerns about U.S.

"After 2-1/2 days of talks and very short nights, some two-thirds of the paragraphs have been okayed", said a G20 official involved in drafting the communique.

Trump noted that he worked with President Macri's father in the past as a businessman.

Are Oil Markets Overreacting?
Traders said recent weakness in equities has fanned concerns about global growth, which is also contributing to declines in oil. He's kept at it even as prices have plunged, tweeting on November 12 that he hoped Saudi Arabia and OPEC wouldn't cut output.

It also now looks as though Mr Putin will meet with President Donald Trump, despite Mr Trump appearing to cancel those plans in a series of tweets 24 hours ago.

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