Monday, 18 March, 2019


All eyes on Trump and Xi as G20 summit kicks off

PM Modi at Yoga for Peace event in Buenos Aires Argentina PM Modi at Yoga for Peace event in Buenos Aires Argentina
Conrad Doyle | 30 November, 2018, 09:12

A 10 percent tariff on $200 billion of those goods is due to rise to 25 percent on January 1.

Global markets are also rattled at the prospect of the impasse remaining unresolved, more so after the USA and China fell out over trade-related issues at the recent APEC summit, and, for the first time, no joint communique was released.

There are mixed signals coming out of the White House. But the Chinese say Trump's unilateral tariffs are bullying.

"I want to just mention what the president told us a short while ago and that is, in his view, there's a good possibility that a deal can be made and that he is open to that", said Lawrence Kudlow, the director of the National Economic Council.

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. That's changing thanks to Trump's tariffs, with Chinese importers looking elsewhere for a plentiful supply.

It also, however, sees the trade confrontation as a U.S. attempt to repress China's economic and geopolitical ambitions and protect the dominance of the USA economy and, in particular, its leadership in technology.

Trump's escalation of trade tensions with China also delivers on one of his campaign promises that continues to play well with his base.

"I happen to be a tariff person because I'm a smart person, OK?" he told the Wall Street Journal. They're ripping us left and right. "Maybe I won't even have the meeting".

"Backing off on China for some quick handshake agreement, without substantive, real, deep commitments will be seen as a victory by no one", Schumer said Wednesday.

"My key message at the G-20 will be that to enjoy the prosperity, security and connectedness we have today, we must protect the worldwide system", he said. "But we're going to make a deal with China that's going to be representative of the United States the way it used to be".

Meanwhile the US, Canada and Mexico are expected on Friday to sign a revamped version of the North American trade pact NAFTA, which Trump excoriated when running for president. Steel tariffs led to increased prices on imports of the metal, and in turn inflated domestic steel prices, according to auto suppliers and executives who testified on Capitol Hill in September. They are, of course, ultimately a tax on United States consumers and shareholders.

If Apple does get hit with tariffs, the impact may not be profound.

The most recent, and perhaps most acute, example of this is General Motors' announcement on Monday that it will close plants and ax about 14,000 jobs, having previously warned that Trump's tariffs may force it to do so.

On Thursday, however, Trump wrote on Twitter that he had chose to cancel the talks after receiving a full report on the naval incident in the Black Sea.

The Leaders' Summit comes amid escalation in the trade war between the United States and China, a naval incident between Ukraine and Russian Federation and a growing pressure on Saudi Crown Prince Mohammed bin Salman who is being suspected of ordering the killing of journalist Jamal Khashoggi.

Chinese President Xi Jinping and his wife Peng Liyuan are welcomed upon their arrival at the airport in Buenos Aires, Argentina, Nov. 29, 2018.

Wendy Cutler, a former U.S. trade negotiator now at the Asia Society institute in the United States, said the best to expect at the G20 would be a "ceasefire" as both sides agree to go back to talks.

Recommended

loading...
...

Microsoft Secures $480 Million U.S. Army HoloLens Contract Microsoft Secures $480 Million U.S. Army HoloLens Contract The upgrades required include adding night vision, thermal sensing, and the monitoring of vital signs of the wearer. HoloLens is an augmented reality headset that overlays virtual objects and information over the real world.

German police raid Deutsche Bank in 'Panama Papers' probe German police raid Deutsche Bank in 'Panama Papers' probe Two years ago, the release of the Panama Papers gave taxpayers around the world an unprecedented look at offshore tax havens. The bank's offices were reportedly raided in connection with the Panama Papers money laundering investigation.

Kate Middleton excited for Meghan Markle's baby Kate Middleton excited for Meghan Markle's baby It comes as tensions between Meghan and Kate are rumoured to be the cause of a growing rift between Princes Harry and William. Now Harry and Meghan don't want to live next to William and Kate and want to strike out on their own.

Miss. race about more than Senate seat Miss. race about more than Senate seat At a midday event, before the content of the signs was disclosed, Espy said he knew nothing about the nooses or signs. Polls were closing at 7 p.m. local time, although people already in line at that time were allowed to stay and vote.

GM closing all operations in Oshawa, Ont GM closing all operations in Oshawa, Ont In an emailed statement to CTV Toronto, GM spokesperson David Paterson said the company "won't be commenting. on speculation". Canada and Ontario also backed a 2005 investment by GM to modernize the Oshawa plant's paint shop. "That's a game-changer.

Federal Reserve hints at fewer interest rate rises Federal Reserve hints at fewer interest rate rises Translation: If growth does slip in 2019, as many expect, the Fed could well take a chill pill and hold off on further rate hikes. He said: "We will be paying very close attention to what incoming economic and financial data are telling us".

It’s Carn-age! Bank reveals no-deal fears It’s Carn-age! Bank reveals no-deal fears The debate had been called for as the prime minister builds up to a historic vote by MPs on Brexit in December. The deal for the United Kingdom to leave the European Union is being scrutinised by senior MPs.

Fans go wild as Lionel Messi scores another incredible Barcelona goal Fans go wild as Lionel Messi scores another incredible Barcelona goal The greatest player of his generation has scored yet another incredible goal for Barcelona in the Champions League . Still made a number of important saves, though, to ensure victory for his side.

China Vows to 'Seriously Investigate' Genetically Altered Baby Claim China Vows to 'Seriously Investigate' Genetically Altered Baby Claim The twin girls, which are named Lulu and Nana, are reportedly healthy, but that has done little to silence He's critics. A Chinese researcher has publicly defended his claim he has created the world's first genetically-edited babies.

Angry Senators Say Trump Administration Is Stonewalling Amid Saudi Crisis Angry Senators Say Trump Administration Is Stonewalling Amid Saudi Crisis In an op-ed piece in The Wall Street Journal , Pompeo said the Crown Prince has moved the country in a reformist direction.

First lady calls opioids 'worst drug crisis' in U.S. history First lady calls opioids 'worst drug crisis' in U.S.  history Critics have been quick to point out the irony of her project, considering the president's own social media habits. US President Donald Trump and first lady Melania Trump with their son Barron Trump pictured earlier this month.

Porsche 911 official: More power, new style, and cleaner cabin Porsche 911 official: More power, new style, and cleaner cabin Primary among them is the turbocharged flat-six engine that produces 443 horsepower, a 23 hp improvement over previous models. The new 911 is available to order from today, with prices kicking off from £93,110 on-road for the Carrera S model.

Sixers no longer listening to trade offers for McConnell The team believes it will have to rely more heavily on McConnell because of the uncertainty surrounding Markelle Fultz . As for those visits, ESPN reported Monday that Fultz would see a specialist in NY on Monday and again mid-week.

Top Cyber Monday Deals on Apple Watch: Series 4, Series 3… Top Cyber Monday Deals on Apple Watch: Series 4, Series 3… If you've been holding off over Cyber Weekend for a top Apple Watch deal, your patience may have just paid off. 4GB data Amazon is also shelling out incredible tech discounts for Cyber Monday as well, including $190 off Bose headphones .

Atwood writing 'Handmaid's Tale' sequel, out in 2019 Atwood writing 'Handmaid's Tale' sequel, out in 2019 Offred, played by Elisabeth Moss in the television series, is a " handmaid " forced to bear children for infertile couples. While Season 1 of the show followed Atwood's book fairly closely, the story diverged from the source material in Season 2.