United States slams harmful China trade policies, threatens auto tariffs

30 November, 2018, 03:37 | Author: Bert Pena
  • New Tariffs Could Hit Laptops, iPhones, Trump Says

"I'm open to making a deal, but frankly, I like the deal we have right now".

There has never been a formal bilateral meeting between the Australian prime minister and the United States president at the G20, given the meetings are often held at Asian summits, but government sources are hopeful of arranging the talks.

The president has also repeatedly said that should a deal not be reached, his administration stands ready to further escalate the US tariffs imposed on China. "I'm not here to critique or second-guess the Chinese economy, but most observers believe China to be in a slump, whereas the United States is in a very strong, solid position going into this summit". Trump has also threatened to impose tariffs on the remaining $267 billion worth of Chinese products imported a year ago.

The Dow Jones Industrial Average hit its low of the day on Thursday following a report that White House trade policy advisor Peter Navarro, a China hawk, would attend the president's dinner with Xi next week.

In an interview with Argentine daily La Nacion, French President Emmanuel Macron warned against the risk of "a destructive trade war for all" emanating from the G20 discussions.

"An agreement that simply results in the purchase of more USA products from China, or promises vague commitments with unclear timelines, will only serve to kick the can down the road, and would further harm the state of the relationship for years to come", he commented.

"If we do not show concrete progress, our global meetings become useless and even counterproductive", he said.

In the past 20 years China has grown rapidly to become arguably Washington's biggest security rival, with defence spending that now far outstrips former Cold War rival Russian Federation.

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The flight-tracking website FlightAware had reported earlier that 875 flights headed to or from the US were cancelled. The forecast for central IL is for up to six inches of snow, with the heaviest snow north of Springfield.

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Trump on Tuesday, November 27, threatened to cancel his planned talks with Putin at the G20 summit, but the Kremlin said it still expected the encounter to go ahead.

G20 sources said agreement about the communique in Buenos Aires was hitting trouble on climate change.

Those discussions, according to people familiar with them, have centered on the possibility of a truce in which the US would delay ramping up tariffs on China in exchange for Chinese concessions.

"I don't know if we want to do it".

Britain's "Brexit" separation from the European Union is another threat to global growth, International Monetary Fund chief Christine Lagarde said.

Mr Morrison arrives in Buenos Aires on Thursday evening, local time, and heads to a welcome for leaders from the world's 20 largest economies before meetings on Friday and Saturday.

In the here and now, May will use the G20 to sell Britain's post-Brexit trading future outside the EU.

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