Trump and China’s Xi to meet in bid to end trade war tensions

President Trump and Chinese leader Xi Jinping have agreed to meet next month at the G-20 summit in Buenos Aires in hopes of resolving their intensifying trade conflict, according to three people briefed on the arrangement who spoke on the condition of anonymity because they were not authorized to speak to reporters.

The planned sit-down ‘ which Beijing sought to forestall further U.S. tariffs ‘ would represent the first direct talks since August, as well as a temporary victory for administration moderates. Yet with U.S.-China relations fraying on an array of issues, few analysts anticipate a major breakthrough.

Not to change the topic here:

Trade fight leads to jump in tariff payments, says pro-trade group

According to the group, U.S. importers had to shell out $1.4 billion more for tariffs in August than they did last August, a result of new tariffs on steel and aluminum from major trade partners, and a slew of Chinese imports.

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The data was compiled by The Trade Partnership, a consultancy, at the behest of a wide coalition of business groups advocating against the Trump tariffs called Tariffs Hurt the Heartland.

‘These tariffs are taxes on American businesses and consumers,’ said Angela Hofmann, a spokesperson for the group.

‘They aren’t paid by other countries. They are paid here at home. What this data shows is that we are already seeing a steep increase both nationally and at the state level in the tariff costs businesses and consumers are paying.

Kudlow says ‘there’s some movement’ toward a meeting between Trump and China’s Xi amid trade tensions

The White House has taken steps toward setting up a meeting between President Donald Trump and Chinese President Xi Jinping as the world’s two largest economies clash over trade, Trump’s top economic advisor Larry Kudlow said Thursday.

“There’s some movement toward” a meeting in Argentina at the G-20 summit next month, the National Economic Council director said. Still, he added that talks or the topics the leaders would address have not “been set in concrete.”

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The Wall Street Journal and The Washington Post both reported that Trump and Xi had indeed agreed to meet next month.

  • Publisher: CNBC
  • Date: 2018-10-11T11:03:48-0400
  • Author: Author link
  • Twitter: @CNBC
  • Citation: Web link

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Trump’s Trade War With China Is Hurting Those Energy-Producing States He Won

A man walks past a “Stand Up For Steel, Stand Up For America” sign while arriving at the United States Steel Corp. Clairton Plant coke manufacturing facility as emissions rise in Clairton, Pennsylvania, U.S., on Sunday, March 11, 2018. President Donald Trump last week signed a proclamation authorizing tariffs that will levy a 25 percent duty on steel and 10 percent on aluminum, saying U.S. political leaders preceding him had allowed the decline of manufacturing in the nation. Photographer: Andrew Harrer/Bloomberg

Donald Trump’s trade war with China is hurting the same states he won in 2016. And that includes Pennsylvania and West Virginia, which sit atop the natural gas-rich Marcellus Shale basin. Will the tariffs erode his political support not just in those states but elsewhere across America’s heartland?

  • Publisher: Forbes
  • Date: 2018-10-11
  • Author: Ken Silverstein
  • Twitter: @forbes
  • Citation: Web link

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Xi Jinping and Donald Trump may meet next month at G20 amid rising China

President Xi Jinping and US President Donald Trump plan to meet in Buenos Aires during the Group of 20 leaders’ summit at the end of November, amid rising tensions between the countries over trade, South China Sea and Taiwan issues.

The Trump administration has informed Beijing of its decision to go ahead with the meeting in recent days, The Wall Street Journal reported on Thursday. China has been hoping such a meeting could provide an opportunity for both sides to try to ease the escalating trade tensions.

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The meeting ‘ expected to take place at the G20 summit in Argentina’s capital city at the end of November, according to the Journal report ‘ has been pushed by US Treasury Secretary Steven Mnuchin and National Economic Council Director Larry Kudlow, who are worried about the global stock market rout that has followed the trade fight.

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