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G20: Are Trump’s trade talks dead before they begin?

23 10 6

LEADERS of the G20 countries will meet in Buenos Aires on Friday, but all eyes will be trained on US President Donald Trump and his Chinese counterpart Xi Jinping as they have their first face-to-face meeting since the escalating trade war began at the start of the year.

While hopes had been high the two could succeed where their delegations have failed, it now looks like the chances of reaching a resolution may be over before they even began.

In an interview with the Wall Street Journal on Monday, Trump said he intends to go ahead with plans to raise tariffs on US$200 billion worth of Chinese goods to 25 percent, saying it was “highly unlikely” he would accept Xi’s request to hold off on the increase.

SEE ALSO: Could Trump and Xi’s ‘good’ chat spell an end to the US-China trade war?

He also threatened to impose more tariff hikes if the negotiations didn’t go America’s way.

“If we don’t make a deal, then I’m going to put the US$267 billion additional on” at a tariff rate of either 10 percent or 25 percent, Trump told the Journal.

US stock options traders will be watching the events in Buenos Aires with a keen eye.

The ongoing trade........

© Asian Correspondent