Xi states economic goals prior to G20 summit in Argentina

Xi states economic goals prior to G20 summit in Argentina

Xi states economic goals prior to G20 summit in Argentina

"We don't have to agree on all issues, and it wouldn't possible anyway, but we need to talk", he said, adding that "it's not only in the interests of our two countries, but the entire world".

Rumblings of resistance to Trump's assault on the worldwide order were apparent as French President Emmanuel Macron said he would convene his fellow European leaders in Buenos Aires to forge a united front on "all the challenges" faced at the G20.

Mr. Trump is set to meet with his Chinese counterpart, Xi Jinping, on Friday and Saturday during the summit in Buenos Aires, which involves finance ministers and other top officials from 20 of the world's largest economies.

"Billions of Dollars are pouring into the coffers of the United States of America because of the Tariffs being charged to China, and there is a long way to go", Trump said on Twitter earlier Thursday.

Allowing China Mobile access to U.S. telecommunications networks would carry a "substantial and unacceptable risk" to national security and law enforcement, the USA government has said.

In any case, unless a deal is suddenly reached, the United States plans to increase tariffs from 10 percent to 25 percent on some $200 billion worth of Chinese goods starting January 1.

"As costs jump for a wide range of USA industries that use Chinese goods as inputs, we estimate the tariffs to add about 0.50 percentage point to inflation".

New Tariffs Could Hit Laptops, iPhones, Trump Says
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The meeting is being held amid the ongoing trade war between the U.S. and China.

Trump already has imposed steep punitive tariffs on about half of the Chinese goods imported into the United States market each year, and has threatened to target the remaining $267 billion as well - which would hit Apple iPhones and laptops produced in China.

Modi will also use the meet to raise concerns of India and other nations on the volatility of global oil prices and the way bodies such as the Organization of the Petroleum Exporting Countries have increasingly cartelised oil supplies, a senior government official said. The United States targeted $250 billion in Chinese products, and Beijing lashed back by slapping tariffs on $110 billion worth of US goods. But at that same dinner he has warned Mr Trump will hike tariffs on United States exports should he not get the deal he wants.

On the issue of trade, U.S. Trade Representative Robert Lighthizer this week singled out China's policies on automobile tariffs.

"We are in a position to deal with it and handle it very well", he said. A decade on, that unity has vanished as US President Donald Trump shreds the consensus underpinning global trade. "It would further threaten global supply chains, leading to higher prices for the electronic devices people rely on every day and even the loss of American jobs", Jose Castenada, a spokesman the Information Technology Industry Council, a tech trade group, said in an emailed statement. "What is pressing now for the two sides is to settle trade disputes and problems through dialogue and consultation based on mutual respect, equality and good faith". All of the worrying predictions of negative effects, he claimed, "have turned out to be false... we're taking in billions of dollars".

Mr Kudlow said Mr Trump told his advisers that "in his view, there is a good possibility that a deal can be made, and that he is open to that".

U.S. stocks had rallied on Monday, shaking off recent weakness, in part on hopes Trump might reach agreement with Chinese leader Xi Jinping at this week's G20 meeting in Argentina. "I think we're very close to doing something with China, but I don't know that I want to do it", Trump said.

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