Argentina tightens security in Buenos Aires ahead of G20 summit

Hugh Fox
November 30, 2018

The monthly goods deficit grew by $1 billion in October, according to a US Census report released Wednesday.

President Donald Trump hinted Wednesday that he's looking into slapping tariffs on auto imports, a day after he threatened to slash federal subsidies to General Motors for wanting to close five USA factories. It put a 10% tax on goods ranging from luggage to bikes and baseball gloves.

Mr Macron initially tried to befriend Mr Trump despite their deep differences, but the two have increasingly clashed, most recently over wine tariffs, Mr Trump's nationalism and Mr Macron's idea of a European army. Regardless of whether suppliers and OEMs continue to import steel from overseas or buy it domestically, they are paying more for steel to build their auto bodies. The figure may reflect stockpiling by American importers ahead of an additional hike in tariffs set to take effect in January, as well as strong consumer spending.

The Trump administration and their counterparts in Beijing are considering a trade agreement under which President Trump would withhold levying new tariffs on China, The Wall Street Journal reported on Thursday.

Beijing has criticised Washington's aggressive trade policy for its "harmful consequences" and has implemented reciprocal measures on more than $60 billion in U.S. imports.

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But Washington has been adamant that the North must reach a certain level of denuclearization before it offers such incentives. Speaking at the UN, Trump belligerently warned that North Korea faced "total destruction" if it threatened the United States.


Trump did add, later in the interview, "Here's the bottom line: We're going to make a great deal with China".

"This G-20 will be a critically important meeting - it is about the two biggest economies addressing their differences to provide certainty and stability to the global economy", he said prior to departure. -China summit, the top USA trade official is blasting Beijing for imposing "egregious" taxes on American-made cars. Trump has also threatened to impose tariffs on the remaining $267 billion worth of Chinese products imported past year."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.

"It's been such a bad one-way street with China", Trump told the Wall Street Journal in an interview Monday.

World leaders arrived Thursday in the Argentine capital of Buenos Aires ahead of the first-ever G20 summit in South America. It is their only scheduled meeting before the end of the year.

A few minutes later, White House national security adviser John Bolton said the president will sit down at the table with Xi "not with the expectation that, at this meeting, there'll be some substantial agreement coming out of it".

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The U.S.is due to raise import duties on about $200 billion worth of goods from China to 25 percent from 10 percent on January 1. Inventec Corp., which supplies Apple and other US tech companies, fell 4 percent to the lowest level in more than a year.


Trump has been demanding that Beijing resolve a series of long-standing USA trade grievances such as accusations China steals US intellectual property and forces technology transfers by USA companies doing business in China.

"This could be a calculated tactic to continue pressuring China with escalation to raise the stakes for negotiations, but the President has yet to back down on his announced plans in the dispute", said Ed Mills, an analyst with Raymond James, in a note to clients.

"We will make a lot of efforts to speed up market access, improve the investment environment and increase protection of intellectual property".

"I don't know if we want to do it".

But U.S. officials including Kudlow have also repeatedly said in recent weeks that any agreement to fully resolve trade differences between the U.S. and China would likely take months of hard negotiations to reach. United States steel producers have welcomed the taxes, as they've seen prices for their own products go up.

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Republicans tend to think Hyde-Smith didn't mean what she said and reject the idea that the comment had racial overtones. Senate runoff election that has focused attention on the state's troubled history of race relations.


Trump boasted Wednesday on Twitter that Steel Dynamics, based in Fort Wayne, Ind., was opening a new plant in the Southwest, creating 600 jobs.

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