G20 opens under assault from Trump on collective action

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

"I think we're very close to doing something with China, but I don't know that I want to do it, because what we have right now is billions and billions of dollars coming into the United States in the form of tariffs or taxes", Trump told reporters as he departed the White House to travel to the G-20.

The revamped accord, called the US-Mexico-Canada Agreement (USMCA), looks a lot like the one it replaces.

For Trump, fast food might be enough.

Financial and commodities markets are closely watching the outcome of the summit, especially a planned meeting between Mr. Trump and Chinese President Xi Jinping on Saturday, although the outcome is far from certain.

In a decree signed by Argentinian President Mauricio Macri, the government declared Friday a national holiday, and encouraged anyone not involved in the G20 to get out of the city for a long weekend.

Argentines are grappling with soaring inflation and unemployment caused by an economic crisis, which has led to a deeply unpopular bailout from the International Monetary Fund. People who pay US$1,000 or more for an iPhone when cheaper options are available are not making purchasing decisions on price alone.

USA officials say China has delivered a written response to US demands for wide-ranging trade reforms, but they remain doubtful this will be enough to bring about a breakthrough when Xi and Trump meet.

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. In response to that and other trade concerns, the U.S. imposed a 10 per cent tariff on more than US$200 billion worth of goods from China-to which China responded with tariffs on US$60 billion worth of goods from the U.S. Trump has threatened to raise the tariff rate to 25 per cent by the end of the year if the two countries don't strike a new deal-their meeting in Argentina is viewed as the best chance of reaching a constructive agreement on trade and other policies that impede U.S.

Still, some Democratic lawmakers want Trump - even if deals aren't likely - to make clear to Xi that he is willing to try to create an environment under which reaching an agreement might be more feasible.

US calls China’s tariffs on American autos ‘egregious’ | Idaho Statesman
Trump has 'silent' support of world leaders to strike 'hard bargain' with China: Ex-NATO ambassador

"But a good deal means both sides walking away happy".

China and Argentina, Xi said, support each other's path of development, and stay committed to deepening friendly cooperation and strengthening coordination in worldwide and regional affairs.

He noted that at the G20 summit in Germany previous year, Trump and Putin spent nearly an hour together at a dinner hosted by German Chancellor Angela Merkel. 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.

White House insiders say there remain substantial differences within the Trump administration over how far to push China.

Late on Thursday, Macron was defiant as he rejected those who wish to confront economic challenges by being "bellicose, isolationist and closing down borders".

The Chinese president made his first state visit to the South American country in 2014.

Trump thinks his tariffs are paid by exporters, referring to the money "pouring into our treasury right now".

But with a major United Nations meeting on climate change starting next week in Poland straight after the G20, United Nations chief Antonio Guterres said in Buenos Aires that "this is a make-it-or-break-it moment". The two are expected to discuss the Intermediate-Range Nuclear Forces (INF) Treaty after Trump said in October the United States would quit the agreement because Russian Federation was not honoring it. "Just take them to McDonald's and go back to the negotiating table, '" Trump said at a 2015 rally.

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