Trump heads to G20 primed for new conflicts

Andrew Cummings
November 30, 2018

The U.S. president has imposed duties on $250 billion in Chinese imports in recent months.

In what was billed as a major policy speech on October 4, U.S. Vice President Mike Pence escalated Washington's trade-driven pressure campaign, highlighting Chinese military and industrial espionage activity and accusing China of "malign" efforts to undermine Trump in the November 6 mid-term congressional elections.

In the G20 context, that parallels controversies pitting Beijing against other nations over the passage of ships through the South China Sea, a vital trading artery.

"Because what we have right now is billions and billions of dollars coming into the United States in the form of tariffs or taxes, so I really don't know". He told The Wall Street Journal it was "highly unlikely" he would refrain from lifting the levy rates to 25 percent. "The concept of global warming was created by and for the Chinese in order to make USA manufacturing non-competitive", Trump said. "And everybody hopefully will be very happy, including China".

If the tone between the two sides seems to have brightened, the Aussie, which isn't far above the more than two-year low it set last month, is worth getting excited about, said McCormick at NatWest.

American businesses and lawmakers on both sides of the aisle agree that the China trade issues should be addressed - but not everyone believes that tariffs are the right way. "We're creating tremendous numbers of jobs".

U.S. Trade Representative Robert Lighthizer said in a statement on Wednesday that he "will examine all available tools to equalize the tariffs applied to automobiles". In 2011, Trump claimed "China is raping this country" during a tour of a defense manufacturer in New Hampshire, local media reported.

Much of Trump's reasoning behind the trade war is to reinvigorate the U.S. manufacturing sector, which he said has been ground down by decades of cheap goods production in the Far East, particularly in China. "Our security measures will be very strong and the decisions that we will make if there is violence will be immediate". "What I'd advise is for them to build factories in the United States..." Otherwise, I don't see a deal being made.

The right-wing leader, who has championed a greater Hindu identity in officially secular India, has made yoga a diplomatic priority since taking office in 2014.

US President Donald Trump's trade war with China is a dominant theme at the weekend summit but one sideshow is how leaders deal with the presence of Saudi Crown Prince Mohammed bin Salman. But even more goods are likely to feel the pain, if Mr. Trump does escalate his tariffs.

Pence's actions in East Asia came on the back of an array of other United States moves critiquing China's activities - both in trade and security realms. For one thing, China is not keen to upend its entire government-centered development strategy simply to please Trump.

Trump's hardline trade adviser, Peter Navarro, will attend a meeting between Trump and Xi, a source familiar with the situation told Reuters.

China has also been called out for its unfair trade practices such as its dumping of subsidised goods in the USA market, stealing intellectual property and proliferating counterfeit goods.

"With one of the most important meetings in recent times between the U.S. and China on Friday, markets are supported by a potential improvement in the relations between the two biggest economies, said Mihir Kapadia, CEO and founder of SGI".

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