Trump auto tariff threats may hit United States consumers' pockets

Alicia Cross
December 2, 2018

Russia's President Vladimir Putin, center, and Saudi Arabia's Crown Prince Mohammed bin Salman greet each other at the G20 Leaders' Summit in Buenos Aires, Nov. 30, 2018, as President Donald Trump enter the room.

As world leaders get down to business at the G20 in Buenos Aires, tensions over trade, security and climate change already threaten to leave it the third such multilateral meeting this year to fail to agree a joint communiqué, following in the footsteps of the G7 and APEC summits.

Hailing the new achievements in bilateral cooperation in various fields this year, Xi said China and Russian Federation will hold grand and colorful activities to celebrate the 70th anniversary of their diplomatic relations next year and strive for more visible results in bilateral practical cooperation.

The official summit statement acknowledges flaws in global commerce and calls for reforming the World Trade Organization.

Theresa May is fighting for political survival as she tries to pull Britain out of the European Union.

G20 summit delegates said that negotiations on producing a final statement were proceeding more smoothly than at a meeting of Asian leaders two weeks ago that ended without a consensus, but they cautioned that the draft statement still required approval from leaders.

Meanwhile Wang Xiaolong, director general of the Foreign Ministry's department of global economic affairs, said negotiations between Chinese and USA officials were making some progress.

Mr Trump and Chinese President Xi Jinping are due to meet on the sidelines of the summit in Buenos Aires.

1 that they should hold another summit to discuss the situation in Syria's Idlib province where the two countries are trying to create a sustainable demilitarised zone.

Trump has often voiced a desire for better relations with Putin, and many critics at home slammed him in July for appearing to disregard United States intelligence agencies' conclusion that Moscow meddled in the 2016 U.S. presidential election, while giving credence to the Russian president's assertion that it did not.

Investors and the key U.S. trading partners agree that one of the main problems of the economic relationship lies in China's closed economy.

Trump greets Saudi prince at G20 summit
Saudi Arabia's de facto ruler, quickly exited the stage without shaking hands or talking with other leaders. French President Emmanuel Macron has also said he will meet with the Saudi leader.

Ukraine-Russia sea clash: Poroshenko urges North Atlantic Treaty Organisation to send ships
Moscow is also backing pro-Russian separatists in eastern Ukraine where more than 10,000 people have been killed in fighting. The vessels were trying to pass through the Kerch Strait on their way to the Sea of Azov, where Ukraine has two major ports.

Trump's Ex-Lawyer Michael Cohen Pleads Guilty to Lying to Congress
Cohen worked on the deal with Felix Sater, a Russian-born developer and U.S. citizen, who served as a deal broker on the project. Cohen said in the hearing that he submitted a false written statement about a Trump Organization real estate project in Moscow.

The Group of 20 summit enters its crucial second and final day Saturday with hours left for diplomats to bridge divisions on major issues including world trade, climate change and tackling migration.

Trump engaged in a chat with other leaders, while Putin had a good laugh together with the Saudi Crown Prince Mohammed bin Salman and even "high-fived" him after the G20 "family photo".

Saudi Arabia has insisted the prince had no prior knowledge of the killing.

The United States has cast talks Saturday with Xi as a deadline for China to cave on key trade concerns of Trump, who has slapped $250 billion in tariffs on the Asian power.

Saturday's talks will be a test of the personal chemistry between the two leaders, which Trump has hailed as a warm friendship. It cited tensions over Chinese technological development, a focus of US concern.

"We're working very hard. He's a good friend but we have a little bit of a dispute", Mr. Trump said about Xi in an interview with Voice of America on Friday.

"There are some ... things in there that I think Democrats can support", Ms O'Neil said. I think we'd like to.

They spoke on condition of anonymity because they weren't authorized to speak publicly about the closed-door discussions. Trump has threatened to impose more tariffs on Chinese imports if the talks don't yield sufficient progress.

The speech marked the latest effort by Xi to paint China as a defender of the global trade system at a time when Washington is accusing the country of engaging in unfair trade practices, stealing trade secrets, and subsidising state-owned enterprises at the cost of other countries.

Those, and his tariffs on Chinese imports, have drawn retaliatory tariffs, and represent the kind of dispute the WTO was created to help resolve.

It added that market participants were "intensely focused on the leaders' meeting as a potential inflection point in the escalating economic tensions" between the US and China.

Other reports by Free-Prsite

Discuss This Article