Pundits Reveal Hidden Aspects of US-China Trade Talks at G20 Summit

Trump says China to cut car tariffs in trade truce

Trump says China to cut car tariffs in trade truce

Ahead of the G20 Mr Trump told USA media he expected to go ahead with plans to raise tariffs on $200bn of Chinese goods - first introduced in September - to 25% (up from 10%) starting in January 2019.

Advocating "fair" and "reciprocal" trade, Trump has called for reducing the US trade deficit with trading partners such as China, Mexico and Japan - the first to third-biggest generators of goods trade deficit with the United States in 2017.

Beijing will also begin purchasing agricultural products from U.S. farmers "immediately".

President Trump and President Xi have agreed to immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture.

"It's 90 days. It's nothing and it doesn't really make any difference".

The two leaders, who were in Buenos Aires for a summit of the G20 countries, called it "a highly successful meeting", a White House statement said.

Xi avoids further immediate pressure on China's slowing economy, while Trump - scarred by last month's midterm elections that saw the Democrats regain control of the House of Representatives - can ease damage to agricultural U.S. states that export to China, particularly soybean producers. Rather, the White House's goal was "that there would be an indication, a kind of way ahead that the advisors could then pursue", Bolton said. At the start of the dinner, Trump struck an optimistic note.

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On Friday Mr Trump briefly met Russian President Vladimir Putin on the sidelines of the G20, a Russian official told Reuters. "We'll see what happens".

Hopes of a breakthrough at the G20 had been undermined right before the meeting by comments from the United States president. Court documents filed Thursday show Cohen worked on the project longer than he told congressional investigators - well into Trump's 2016 presidential candidacy.

He also noted that he will be meeting with Chinese President Xi Jinping on Saturday as well.

They spoke for around two and a half hours and the discussion ended with Trump agreeing to hold off on raising existing tariffs on $200billion pending new talks.

Despite months of complaints by the United States and the USA imposing tariffs on about $250 billion worth of Chinese goods, Beijing "has not fundamentally alerted its unfair, unreasonable, and market-distorting practices", according to a report issued last week by Lighthizer.

His reflections on the meeting suggest that, at least at the leaders' level, the US-China relationship is in a better place than it was in October, following U.S. Vice President Mike Pence's speech criticising a wide array of Chinese actions. Chris Coons, who serves on the Foreign Relations Committee, said this week.

Under Trump's "America First" mantra, addressing trade imbalances with these countries is one of the key agenda in his bid for re-election in the 2020 presidential race, especially after his Republican Party lost a majority in the House of Representatives in the Nov 6 midterm elections.

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Trump canceled a planned meeting with Putin at the G20 summit in Argentina this weekend citing unease over Russia's November 25 seizure of three Ukrainian navy ships and their crews.

It emerged that 25 percentage points are the result of Chinese retaliation against Trump's tariffs on imports from China. Ron Wyden and Ohio Sen.

There are also differences in the Chinese and US accounts of what was agreed.

Tusk added that the European Union would likely extend sanctions on Russian Federation over its "totally unacceptable" seizure of Ukrainian ships and their crews near Crimea.

For the US leader, a recent stock market slide - even though it bounced back late in the week - has many financial experts warning of a recession. And for the Chinese president, "growth is slowing and I think there's an interest in trying to get this behind them", Goodman said of the tariff battle with Trump.

Chief economic adviser Lawrence Kudlow was asked why he remained somewhat optimistic about a deal during a Tuesday morning session with a group of reporters.

Many protesters took aim at Trump, chanting, "Go away Trump" and creating effigies of the United States president, such as this rendition above made of recycled materials.

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