Trump may suspend additional China tariffs under proposed deal

US President Donald Trump talks to reporters as he departs for travel to Argentina and the G20 Summit from the White House in Washingt

The chief executive of worldwide financial services firm Sun Global Investments (SGI) said on Thursday that while a thawing of relations between the US and China may be at hand, US President Donald Trump will enter talks with his Chinese counterpart on the sidelines of the G20 meeting in Argentina "with a slight advantage".

Much of Argentina's capital will shut down on Thursday as leaders from the world's biggest economies descend on Buenos Aires for the two-day G20 summit, which kicks off on Friday.

Despite doubts that a separate planned encounter at the G20 between Trump and Russian President Vladimir Putin would go ahead, Kremlin spokesman Dmitry Peskov told journalists Thursday that Washington had "confirmed the meeting".

"Based on the fact that the ships and sailors have not been returned to Ukraine from Russian Federation, I have decided it would be best for all parties concerned to cancel my previously scheduled meeting in Argentina with President Vladimir Putin", he wrote on Twitter. He says the idea is that it's always good to get the two leaders together to exchange views, but there's not an expectation that "at this meeting, there'll be some substantial agreement coming out of it, but that there would be an indication, a kind of way ahead that the advisers could then pursue".

Ukraine's President Petro Poroshenko retweeted Trump's change of mind and added his own comment in English: "This is how great leaders act!" He said he would decide on a course afterward.

"If that is the case, the president (Putin) will have a few extra hours in his programme for useful meetings on the sidelines of the summit".

President Donald Trump and Chinese President Xi Jinping attending a welcome ceremony in Beijing.

"We are very close to doing something with China, but I don't know that I want to do it", Trump said, adding: "I like the deal we have now". "I am open to making a deal but frankly I like the deal that we have right now", he said.

Lighthizer said China's policies continue to cause "severe harm" to US manufacturers, and "as of yet, China has not come to the table with proposals for meaningful reform".




"President Trump is right to have zeroed in on China's unfair trade practices, but a trade war with China isn't good for the world's economy over the long term, and it's not good for the USA economy either", said Delaware Sen.

China's foreign ministry has said a recent phone conversation between Xi and Trump about trade and other issues was "extremely positive".

A decade on, that unity has vanished as the "America First" Trump shreds the consensus underpinning worldwide trade and other G20 countries such as Brazil, Italy and Mexico turn to populist leaders. The two leaders are expected to seek a resolution to a trade dispute between their countries that has shaken financial markets and threatened the global economy.

In an interview with Argentine daily La Nacion, French President Emmanuel Macron warned against the risk of "a destructive trade war for all" emanating from the G20 discussions. "Maybe I won't even have the meeting".

Trump has repeatedly shown his disdain for worldwide summitry by blocking final communique at other recent gatherings such as the G7 and the Asia-Pacific bloc APEC.

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

Trump, whose economic record is likely to be a key factor in his race for re-election in 2020, lashed out at General Motors Co after the company's recent announcement of United States layoffs and plant closures and threatened additional tariffs.

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

Trump had also said he would get a final report during the flight to Argentina on the tension in the region after Russian Federation seized Ukrainian vessels near Crimea on Sunday.

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