Kudlow: Trump ‘Positive’ Going Into Meeting With Chinese Leader Xi

Trump may slap tariffs on iPhones Report

"What will aid [Mr Xi] is news that the United States trade deficit is at a record high and the fact that China is a major investor in U.S. government Treasury Bonds".

Donald Trump takes his "America first" presidency to Argentina on Thursday for a high-stakes G-20 summit, but lawmakers and experts warn his go-it-alone approach could hamstring his own goals on China, Russia and North Korea.

US and Chinese officials have been working for weeks on the contours of a possible deal for the two leaders to be announced following their dinner on Saturday on the sidelines of the Group of 20 summit in Buenos Aires and a road map for talks to follow.

Trade tensions between the USA and China, concern over the murder of Saudi journalist Jamal Khashoggi and calls to put climate action back on track form the background of the G20 summit in the Argentinian capital.

Trump said earlier this week the chances of holding off a tariff increase to 25% is "highly unlikely", and he repeated threats to impose tariffs on an additional $267 billion of goods from China, which would cover almost all Chinese imports to the U.S.

A Reuters poll yesterday showed China's factories likely struggled to grow for a second straight month in November as cooling demand at home and the threat of higher U.S. tariffs stifled new orders.

The White House on Tuesday warned Xi against trying to wait out Trump in the ongoing talks, suggesting the Chinese economy was not as resilient to a trade war as the USA economy.

The US stockmarket shivered and fell when the Trump interview was published but recovered some ground on Tuesday after National Economic Council director, Larry Kudlow, while expressing some scepticism that the meeting would produce an agreement, said Trump remained open to a breakthrough and believed a deal could be made.

But Kudlow's comments indicate Trump is more upbeat about the prospects.

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Chinese Foreign Ministry spokesperson Geng Shuang said Thursday the tariffs are part of China's counter-measures after Trump ordered a 10 percent tariff hike on $200 billion worth of Chinese goods and then threatened to increase that to 25 percent.

"I will highlight the need for reformed multilateralism which reflects the contemporary realities and can effectively strengthen collective action for global good", he said. The Asian country is the leading market for the South American nation's agricultural goods, importing large quantities of cooking oil, soybeans, beef, poultry, wine and dairy products.

"I think China wants to make a deal". And Trump will close out the trip with a working dinner with Chinese President Xi Jinping. A trilateral meet with US President Donald Trump and Japanese Prime Minister Shinzo Abe is also on the cards.

"This just presents enormous challenges as the US government seeks to move further on its objectives - whether that's North Korea, whether that's Iran, whether that's a variety of issues", she said. "That's in the interests not only of our two countries, it's in the interests of the whole world", Kremlin spokesman Dmitry Peskov said in Moscow.

Separately, Trump hinted Wednesday that he's looking into imposing tariffs on auto imports, a day after threatening to slash federal subsidies to General Motors.

In 2011, Trump claimed "China is raping this country" during a tour of a defense manufacturer in New Hampshire, local media reported.

"What we have right now is billions and billions of dollars coming into the United States in the form of tariffs or taxes".

"Maybe. Depends on what the rate is", Mr Trump said, referring to the possibility of tariffs on mobile phones and laptops, according to the Journal. "Now I think it's really been stripped bare", he said, adding there was an opening for a liberal leader like France's Emmanuel Macron or Canada's Justin Trudeau to make a splash in Argentina by standing up to Trump.

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