Economy

Trump says close to doing something with China on trade

Trump says close to doing something with China on trade

Trump himself told The Wall Street Journal that it was "highly unlikely" that he would accept China's request to defer the next increase scheduled for January 1.

While Trump cancelled his meeting with Putin, the USA president was still scheduled to meet with Chinese President Xi Jinping, but analysts were not optimistic about prospects for a major breakthrough on the two countries' trade disputes a month before US tariffs on Chinese goods are set to ramp up. "But it is far from clear whether the discussions will produce any agreement".

Argentine Foreign Minister Jorge Faurie said trade talks were moving forward and nations were continuing to work on climate change wording. He also suggested that if talks were unproductive, he would implement tariffs on even more Chinese goods. In each case, the U.S. agreed not to levy more auto tariffs while the two sides negotiated over specific issues, the report said.

In a phone call Wednesday, Trump and Turkish President Recep Tayyip Erdogan expressed their concern about the incident, said White House press secretary Sarah Huckabee Sanders.

Both sides have raised tariffs on billions of dollars of each other's goods in a fight that has rattled the financial markets.

Trump said he would be receiving a "full report" from his national security team on Russia's recent actions in eastern Ukraine and the Black Sea.

Trump is also to meet separately with Russia's Vladimir Putin and the leaders of Argentina, Germany, India, Japan, South Korea and Turkey, White House officials said.

"Maybe I won't have the meeting", he said.

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Trump added: "I don't like that aggression".

He said the Kremlin expects that the talks will touch on nuclear arms control, noting that it's particularly important to discuss them in view of the USA intention to withdraw from the Intermediate-Range Nuclear Forces Treaty.

Overall the G-20 summit is meant to focus on issues such as labour, infrastructure, development, financial stability, climate sustainability and worldwide commerce.

As of now, there is no certainty on the deal, the daily said citing unnamed governmental sources. The Chinese a year ago shipped just $884 million worth of cars and light trucks to the United States - less than 1 percent of total auto imports.

US negotiators blocked progress at the Group of 20 summit on managing migration, slowing climate change, and streamlining how world trade is governed, according to European officials involved in the discussions.

"Perhaps we can break through in Buenos Aires or not", he said.

Trump is due to meet Chinese leader Xi Jinping in Buenos Aires for a working dinner at the G-20 summit that runs Friday and Saturday. "Most observers believe China to be in a slump, whereas the United States is in a very strong, solid position going into this summit".

"There may be a statement of principles (in Buenos Aires), confirming they will maintain negotiation and communication, but I think it will be hard to reach a comprehensive agreement, because to do that both sides need to make big concessions", he said.