Saturday, 15 June, 2019

G20 won't produce 'definitive' US-China deal

Federal Reserve Board Chairman Jerome Powell arrives at his news conference following the closed two-day Federal Open Market Committee meeting in Washingt Why Trump Thinks 'Tariffs Are a Beautiful Thing'
Steven Clarke | 13 June, 2019, 17:14

Trump said again on Monday that he expected the meeting to happen, and threatened more tariffs on Chinese imports if there is not enough progress or if Xi does not attend.

He also said the Chinese regime devalues its currency and subsidizes companies in order to lessen the effect of US tariffs imposed on its goods.

With the leaders of the USA and China to meet later this month at the G20 summit in Japan, the two countries are sending signals both positive and negative.

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Donald Trump has approved tariffs as high as 25% on $200 billion worth of Chinese exports to the United States citing that the balance to trade is tilted in favor of China.

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Almost a year after Trump began imposing the higher tariffs to ramp up pressure on Beijing, hopes are focused on a possible top-level compromise to break a stalemate in talks that were suspended last month.

He also has complained that President Xi enjoys a major advantage in the U.S.

President Trump vowed Tuesday that, during his presidency, he will prevent China from ripping off the United States.

"It's me right now that's holding up the deal", Trump said.

Real Madrid confirm Ferland Mendy signing for £48m
Mendy enjoyed an impressive campaign past year , playing 30 Ligue 1 matches for Lyon and helping the French side reach the Champions League round of 16.

Terry Branstad, the U.S. ambassador to China, was scheduled to meet with U.S. Vice President Mike Pence in Washington on Tuesday amid the ongoing negotiations.

Ross defended the use of duties saying they are producing good outcomes, and said financial markets overreacted to the various tariff threats, including those against Mexico that had been due to take effect on Monday.

Trump also complained that even though he selected four of the Fed's five board members, including elevating Jerome Powell to chairman, "We have people on the Fed that really weren't, you know, they're not my people".

Chinese Foreign Ministry spokesman Geng Shuang said on Tuesday that China is "not afraid of fighting a trade war".

Trump maintained that he had a "great relationship" with Xi despite the rise in trade tensions between their two countries.

Investors worry China will retaliate by putting United States companies on a blacklist or banning exports to the USA of rare earth metals, which are used in products such as memory chips, rechargeable batteries and mobile phones.

"And we're going to either do a great deal with China or we're not going to do a deal at all".

Prodded by hawks in Washington to take a "whole of government" approach toward China, Trump may make it harder for Xi to compromise at the negotiating table.

The strains between Washington and Beijing are expected to make it hard for diplomats to agree on the language of the G20 statement issued at the end of the summit.

"China is going to eat our lunch?"

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