Trump Says Some Good Signs on Talks With China

Aaron Brown
December 1, 2018

"I think we're very close to doing something with China but I don't know that I want to do it", Trump told reporters. "I'm open to making a deal, but frankly, I like the deal we have right now." the US President was quoted as saying by Efe on Thursday.

A slowdown in the global economy will worsen if Trump presses ahead with plans to further increase tariffs on some $200 billion of Chinese imports to 25 percent, OECD Secretary General Angel Gurria told Reuters.

One of Trump's goals in issuing the tariff is to pressure Apple to move production to the USA; but the cost of shifting the tech leader's global supply chain from China to America would be expensive, hard and, therefore, "highly unlikely".

World leaders began arriving in Argentina ahead of a G20 summit dogged by increasingly strident warnings about the impact on the world economy of threatened United States trade tariffs.

He's put tariffs on $250 billion of Chinese-made goods this year in an effort to make US-made products more attractive to consumers.

Immediately at stake are plans by Trump to increase from 10% to 25% existing tariffs on $250 billion of Chinese goods on January 1.

An unsuccessful meeting, however, could see that number double, with the U.S. levying tariffs on all $US500 billion or so of Chinese goods that come into the United States of America each year.

Also expected to loom large amid dozens of bilateral meetings in Argentina's capital: the tensions between longtime allies the United States and Europe, the gruesome slaying of a dissident Saudi journalist in the country's Istanbul consulate and how the Saudi crown prince who is alleged to have ordered the killing is received by world leaders.

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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.

But, at the same time, he cautioned the USA was prepared to forge ahead with the new tariffs in the belief China would fold first.

All eyes are also on a scheduled Saturday dinner between Mr Trump and Chinese President Xi Jinping, which may determine whether the US-China trade war abates or continues towards a US tariff hike scheduled to take effect on Jan 1.

A Reuters poll on Wednesday showed China's factories likely struggled to grow for a second straight month in November as cooling demand at home and the threat of higher USA tariffs stifled new orders.

US President Donald Trump has cancelled a meeting with his Russian counterpart, Vladimir Putin, in protest at Russia's seizure of Ukrainian naval boats. Since then, communications have picked up between the two sides, said Kudlow.

"We value our relationship with China very much and have a very important commercial relationship with China", said the official, who asked not to be named because he wasn't authorised to speak publicly about the issue.

Trump complained about the quality of his English-language translation during Macri's Spanish-language speech.

Other reports by Free-Prsite

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