Chinese president arrives in Argentina for G20 summit, state visit

30 November, 2018, 09:10 | Author: Eric Barnett
  • US calls China’s tariffs on American autos ‘egregious’ | Idaho Statesman

The stakes are high for the world's two biggest economies.

The government says the close relationship between Australia and the US, along with the fact that Mr Morrison spoke to US Vice-President Mike Pence this month, means there is no pressing need for a formal bilateral with Mr Trump. The most recent round of hand-wringing stems from comments made by Trump himself, which seem to throw cold water on a possible breakthrough.

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.

The country's policies on auto tariffs are "especially egregious", taxing United States cars at more than double the rate it charges other countries.

He is supposed to meet with Chinese President Xi Jingping Saturday for dinner, and analysts expect the President to discuss the current trade standoff with Xi. But based on the tenor of the previous remarks, that comment seemed more geared to an eventual, hypothetical future, not a prediction pegged to the G-20 meeting.

Trump has threatened tariffs on another $267 billion worth of Chinese products, including cell phones, computers, clothing and footwear. "We're creating tremendous numbers of jobs". A Honda executive at the September hearing testified tariffs are hurting the entire auto supply chain, calling the business environment in the US "unsettling".

In a fabled 2011 interview with China's state broadcaster Xinhua, Trump allegedly rattled off 20 books he'd read about China.

Asked if China was seeking to prevent more U.S. tariffs at the high-stakes meeting, the ministry's spokesman, Gao Feng, said economic teams from both sides were in contact to implement a "consensus" reached by Trump and Xi in a phone call this month.

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

The Trump administration has imposed tariffs on more than Dollars 250 billion worth of Chinese imports.

Instead, Lighthizer's statement escalated the dispute further, saying: "China's aggressive, state-directed industrial policies are causing severe harm to U.S. workers and manufacturers". "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".

Donald Trump jets to Argentina Thursday for a weekend of G20 summitry riven by new tensions over Ukraine on top of fissures carved open by the U.S. president on trade and climate change.

Global markets are also rattled at the prospect of the impasse remaining unresolved, more so after the US and China fell out over trade-related issues at the recent APEC summit, and, for the first time, no joint communique was released. First, the Trump administration's tougher approach to China - while often crude in its articulation (especially on trade) - is grounded in long-standing bipartisan concerns about Beijing's behaviour and its effect on the United States and its allies in the region. For one thing, China is not keen to upend its entire government-centered development strategy simply to please Trump.

Recent years have seen a steady uptick in tensions, punctuated by USA naval and air patrols challenging China's extensive claims in the South China Sea and US warship movements through the highly sensitive Taiwan Strait.

Overshadowing Trump's comments was a report that White House economic advisor and China trade hawk Peter Navarro would be attending the Trump-Xi dinner.

"The China-U.S. summit is just around the corner", Geng said.

Mr. Trump noted the possible auto tariffs as a negotiating tool with the European Union in The Wall Street Journal interview. But Trump's own comments leave little hope for "positive outcomes" on December 1.


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