Trade war contributors US, China may strike truce at G20 summit

Publics around the world approve of trade but are skeptical of its benefits

"I think we're very close to doing something with China but I don't know that I want to do it", Trump told reporters as he left the White House to fly to the G20 summit in Buenos Aires. But the Kremlin said the meeting was on for Saturday.

"But its functioning has been different from a usual North-South or East-West divide, because we see very loose coalitions operating, depending on the issue being discussed", former foreign secretary Shyam Saran said.

The prime minister further said if the mind is at peace, there would be peace in family, society, country and the world as well.

The move comes just days before Trump is due to sit down for dinner with China's Xi Jinping on the sidelines of a Group of 20 summit in Buenos Aires and some analysts said it appeared to be related to that. Trump has accused China of unfair trade practices and stealing of intellectual properties.

The U.S. Commerce Department has circulated draft recommendations to the White House on its investigation into whether to impose tariffs of up to 25 percent on imported cars and parts on national security grounds, Reuters reported earlier this month.

Previous summits have also seen participants who are not permanent members of the G20 invited, and Spain is a permanent invited guest and will be represented in Argentina. "Maybe I won't even have the meeting".

Referring to the China tariffs, he said: "What we have right now is billions and billions of dollars coming into the United States in the form of taxes".

Markets are hoping a deal can be reached before the end of the year, when USA duty rates are due to increase significantly.

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.

An indication of how ill-equipped the Trump administration is to meet this moment is its gross miscalculation in starting the trade war with China.

Overall, Trump's schedule at the G20 is in flux.

He reportedly will be in Buenos Aires from November 29 to December 1.

When President Donald Trump travels overseas, he increasingly likes to keep it quick.

Taking the world stage at the G20 is a welcome relief for Mr Macron, who has faced mass protests at home over rising fuel taxes that are the biggest challenge yet to his presidency. But so far, the deal-making talents he and his aides so often tout have not broken impasses on trade with China and the European Union, nor have they thawed relations with Russian Federation or convinced Putin to play nicer with his neighbors.

The US, Canada and Mexico are scheduled to sign the new United States-Mexico-Canada Agreement that is replacing the Nafta trade deal during a ceremony on Friday.

China said Thursday that tariffs on US autos would be 15 percent if not for the trade dispute, and it called for a negotiated solution.

"We can not pretend that ongoing trade tensions do not pose real threats to the global economy", he said.

Buenos Aires: G20 leaders, wrestling with the US-China trade war and ascendant populism at their 10th summit this week, face a new crisis following Russia's naval confrontation with Ukraine.

In the here and now, May will use the G20 to sell Britain's post-Brexit trading future outside the EU.

But Trump has done her no favors by mocking a hard-fought withdrawal agreement negotiated between London and Brussels, and May still has to win backing for the deal from the fractious British parliament.

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