'You've done a fantastic job': Trump praises Morrison in G20 meeting
- Author: Rogelio Becker Dec 01, 2018,
Dec 01, 2018, 1:40
Before heading for Buenos Aires on Thursday, Trump said he was open to a trade deal with China, but added, "I don't know that I want to do it".
U.S. President Donald Trump has arrived in the Argentine capital of Buenos Aires to attend the two-day G20 Summit, his first visit to Latin America since he came to power nearly two years ago. "I don't think right now that the markets are pricing in that we'll get any sort of clarity from these meetings", Cruz told Benzinga.
Indeed, the European Central Bank warned this week that escalation to a more generalized trade war, with all countries introducing border tariffs on each other's imports, could lead to strong financial-market corrections.
"If they [Apple] did make the smartphones in the U.S., it would add somewhere between 20% to 35% more to the final consumer prices of the phones sold to the public", Tim Bajarin of Creative Strategies told CNN.
In September, the Trump administration announced a 10 percent tariff on $200 billion of Chinese goods, and said the rate will rise to 25 percent on January 1.
The United States has levied additional duties of between 10 percent and 25 percent on $250 billion of Chinese goods this year as punishment for what it calls China's unfair trade practices, with the 10 percent tariffs set to climb to 25 percent next year.
After initial plans for him to stay away from the summit, Trump's hardline trade adviser, Peter Navarro, was added to the USA delegation at the last minute and is expected to attend the meeting between Trump and Xi, a U.S. official and a source familiar with the situation told Reuters.
NASA's Martian quake sensor In Sight lands at slight angle
It also now looks as though Mr Putin will meet with President Donald Trump, despite Mr Trump appearing to cancel those plans in a series of tweets 24 hours ago.
The six-meter balloon, which hovered 100 feet over the ground outside parliament in London, welcomed Trump on July 13, but the president told British newspaper The Sun: "I guess when they put out blimps to make me feel unwelcome, no reason for me to go to London".
More moderate aides such as Mnuchin and National Economic Council chairman Larry Kudlow have advocated for easing trade tensions with China, offering warnings that escalating the trade war would only make matters worse, and allow Trump's critics to pin even more of the blame for a shaky economy on him.
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 tariffs on steel and aluminum remain in place, but a Canadian official said an advantage to signing onto the agreement now is an auto side letter exempting Canada of potential tariffs on exports of up to 2.6 million vehicles - well above current levels.
President Donald Trump and Chinese President Xi Jinping shake hands during a joint statement to members of the media Great Hall of the People in Beijing, China in 2017. Merkel's office said Friday that she and a small delegation, including the finance minister, took a different government plane to Madrid and then boarded a commercial flight to Buenos Aires.
For Trump, there was no escape from the lengthening shadow of the USA investigation over Russian meddling in his 2016 election, which is now reaching into his business affairs.