Published: Sat, June 29, 2019
Money | By Ethel Goodwin

Trump, Xi arrive for high-stakes G-20 meeting

Trump, Xi arrive for high-stakes G-20 meeting

China's state-run Xinhua news agency said the meeting was a "unique opportunity for the two sides to find new common ground in easing trade tensions and bring the troubled ties back onto the right track".

The tweet depicts four confronting posters from 2014 when Australian Prime Minister Scott Morrison was immigration minister.

In an apparent reference to this issue, Trump at the opening session said: "We must also ensure the resilience and security of our 5G networks". "We take care of our allies", he said.

Xi expressed concern and asked to avoid a worsening of the situation in the Middle East due to USA tensions with Iran, after considering that the G20 Osaka summit should send the right signals to guarantee stability, sustainable growth and at the same time care of the nature.

"We work with our allies".

"I think Australia is a good example".

"India, for years having put very high Tariffs against the United States, just recently increased the Tariffs even further".

"In addition, many tech companies, including Intel (INTC) and Broadcom (AVGO), do a lot of business in China and are significantly impacted by the trade war", Barron's explained. Trump has said he wants to end the unfair practices China employs, including currency manipulation and theft of trade secrets.

Trade talks have stalled between the two countries and Trump is threatening $325 billion more in tariffs on Chinese imports unless Beijing makes concessions.

"We have watched this movie before: China and the USA talk, leaks from policymakers on both sides encourage speculation we are close to a deal, things fall apart", said Hannah Anderson of J.P. Morgan Asset Management in a report.

The best-case scenario for the talks was a resumption of trade negotiations, Marc Short, the chief of staff for U.S. Vice President Mike Pence, told reporters at the White House on Friday.

Experts believe the most that will be agreed is a truce and a pledge to keep talking, although markets are not ruling out a complete collapse or a surprise breakthrough given the U.S. president's mercurial nature.

US President Donald Trump is greeted by Japan's Prime Minister, Shinzo Abe, as he arrives on the first day of the G20 summit June 28, 2019 in Osaka.

"I appreciate the fact that you're sending many automobile companies into MI and OH and Pennsylvania and North Carolina", Trump told Japanese Prime Minister Shinzo Abe, listing USA states key to his re-election effort next year. The United States has been pursuing similar bilateral agreements with those countries, including a deal signed in July a year ago with the European Union widely seen as a joint effort to counteract China.

Negotiators have not met since then, and USA and Chinese sources briefed on the state of talks have told Reuters the best-case scenario for the Xi-Trump meeting is to resume negotiations, leaving the two sides still far from an agreement.

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