Trump talks trade at G20, China's Xi warns against protectionism

[rooster59]

Trump talks trade at G20, China's Xi warns against protectionism

By Roberta Rampton

 

Japan's Prime Minister Shinzo Abe is flanked by U.S. President Donald Trump and China's President Xi Jinping during a meeting at the G20 leaders summit in Osaka, Japan, June 28, 2019. REUTERS/Kevin Lamarque

 

OSAKA (Reuters) - U.S. President Donald Trump made clear on Friday that trade was his top priority at a summit of leaders of Group of 20 nations, as China's Xi Jinping warned against rising protectionism and India, Japan and Russia defended multilateral trade rules.

 

Trump, who is holding a series of meetings on the sidelines with world leaders, including Japan's Shinzo Abe and India's Narendra Modi, said he saw U.S. trade prospects improving, days after criticising the U.S.-Japan security treaty and demanding that New Delhi withdraw retaliatory tariffs.

 

"I think we’re going to have some very big things to announce. Very big trade deal. We’re doing some very big things with India in terms of trade, in terms of manufacturing," Trump said at the start of talks with the Indian prime minister.

 

Trump, set to hold a high-profile meeting on trade with Chinese President Xi Jinping on Saturday, also made a push to discuss U.S. concerns about Chinese telecoms equipment maker Huawei at his meetings.

 

Washington has pressed its allies to shun Huawei in their fifth generation, or 5G, networks on security grounds, and has also suggested it could be a factor in a trade deal with Xi.

 

"We actually sell Huawei many of its parts," Trump said at his meeting with Modi. "So we’re going to be discussing that and also how India fits in. And we’ll be discussing Huawei."

 

Asian shares stumbled during the day amid rising doubts that the highly anticipated meeting between Trump and Xi would ease trade tension.

 

European Commission President Jean-Claude Junker flagged the shadow cast by the U.S.-China trade feud.

 

"The trade relations between China and the United States are difficult, they are contributing to the slowdown of the global economy," he told a news conference.

 

Xi also warned about the protectionist steps he said some developed countries were taking.

 

"All this is destroying the global trade order... This also impacts common interests of our countries, overshadows the peace and stability world wide," Xi told a gathering of leaders of the BRICS grouping of nations on the sidelines of the G20 meet.

 

DEFENDING WORLD TRADE RULES

 

Modi at the same meeting called for a focus on reforming the World Trade Organization and Russian President Vladimir Putin decried what he called efforts to destroy the Geneva-based body.

 

"We consider counter-productive any attempts to destroy WTO or to lower its role," Putin said.

 

The situation of the global economy was worrying as global trade was feeling the effect of "protectionism (and) politically motivated restrictions," he added.

 

Trump, who often castigates trading partners on Twitter and in his raucous political rallies, put a positive spin on trade developments with Japan.

 

"I appreciate the fact that you're sending many automobile companies into Michigan and Ohio and Pennsylvania and North Carolina," Trump told Japanese Prime Minister Abe, referring to U.S. states critical to his effort to win re-election next year.

 

Trump said the two leaders would also discuss Japanese purchases of U.S. military equipment, although a Japanese official said later the topic did not come up.

 

Tokyo and Washington are engaged in difficult trade talks as Trump's administration seeks to lower the U.S. trade deficit.

 

Japanese Economy Minister Toshimitsu Motegi and U.S. Trade Representative Robert Lighthizer were to meet later in Osaka.

 

Abe welcomed Trump's visit, calling their frequent meetings "proof of the strong U.S.-Japan alliance".

 

He later urged G20 leaders to send a strong message in support of free and fair trade, warning that trade and geopolitical tensions were rising and downside risks to the global economy prevailed.

 

"Today, I want to discuss with leaders measures to further enhance momentum towards reform in WTO," he told them ahead of a working lunch.

 

Trump renewed his criticism of the U.S.-Japan security alliance this week as unbalanced.

 

"We will go in and we will protect them and we will fight with our lives and with our treasure," he said in an interview on Wednesday with Fox television.

 

"We will fight at all costs, right? But if we’re attacked, Japan doesn’t have to help us at all. They can watch it on a Sony television, the attack."

 

Under the decades-old U.S.-Japan security treaty, the United States has committed to defending Japan, which renounced the right to wage war after its defeat in World War Two.

 

Japan in return provides military bases that Washington uses to project power deep into Asia.

 

After the Trump-Abe talks, a Japanese official told reporters the leaders had agreed to accelerate trade talks and had agreed the alliance was stronger than ever.

 

(Additional reporting by Leika Kihara, Kiyoshi Takenaka and Katya Golubkova; Writing by Linda Sieg in Tokyo; Editing by Paul Tait and Clarence Fernandez)

 

-- © Copyright Reuters 2019-06-28

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[car720]

I would vote for Mel Gibson.

[roquefort]

Trump looks as if he'd rather be having an enema than sitting there ......... or maybe he is having an enema.

[soalbundy]

28 minutes ago, car720 said:

I would vote for Mel Gibson.

Monty Python as his cabinet

[Emdog]

The tariffs (taxes) are estimated to add over $800 per family expenses thanks to Trump. Damaging American businesses while China cleverly expands investments and influence in SE Asia. Where is the TPP when you need it? Oh yeah, Trump bailed on that....

[losworld]

2 minutes ago, Emdog said:

The tariffs (taxes) are estimated to add over $800 per family expenses thanks to Trump. Damaging American businesses while China cleverly expands investments and influence in SE Asia. Where is the TPP when you need it? Oh yeah, Trump bailed on that....

Dream on if China continues it's unfair practices which include currency manipulation, dumping, toxic environmental damage, copyright and patent infringement, slave wages to name just a few if this continues there will be no industry and jobs left in America.  Can you not see the big picture?

Edited June 28, 2019 by losworld

[losworld]

If you have any clue as to how things work in China and much of SE Asia you will quickly realize words are just that simply words and anything can be said to preserve face and keep everyone happy.  China is not interested in negotiating at all and are simply bluffing and buying time hoping for a weakling in office to replace Trump.

[Traubert]

33 minutes ago, losworld said:

If you have any clue as to how things work in China and much of SE Asia you will quickly realize words are just that simply words and anything can be said to preserve face and keep everyone happy.  China is not interested in negotiating at all and are simply bluffing and buying time hoping for a weakling in office to replace Trump.

Or hoping Trump's replacement can find his ar*e with both hands. They are bored with running rings round him. It's not so much fun now.

[losworld]

1 minute ago, Traubert said:

Or hoping Trump's replacement can find his ar*e with both hands. They are bored with running rings round him. It's not so much fun now.

That makes little sense if they are running rings around him why are they so concerned with the tariffs he has introduced?  Why because they are working.  Please watch china's megaprojects series on youtube so you can get a grasp on the juggernaut being dealt with.  It's either make a stand now or pay a huge price later.  Obama should have dealt with these issues but he was a bit too busy with "hope and loose change".

[spidermike007]

The world knows by now, that the emperor has no clothes. Trump could not negotiate his way out of a paper bag, if his life depended on it. He is a terrible negotiator, unless he is buying a 10 unit apartment building in Manhattan, and the seller absolutely needs to sell. 

 

Hopefully, Trump will not be party to any negotiations, as all he does is destroy any hope of success. He is outclassed by Xi, to the tune of 75 IQ points. And I am no fan of Xi!

[quandow]

3 hours ago, Emdog said:

The tariffs (taxes) are estimated to add over $800 per family expenses thanks to Trump. Damaging American businesses while China cleverly expands investments and influence in SE Asia. Where is the TPP when you need it? Oh yeah, Trump bailed on that....

Actually, bailing on TPP was one of the few GOOD things the pussy-grabber-in-chief did, and I would bet my bottom dollar he ONLY did it because Obama wanted TPP to go through.

[Morch]

1 hour ago, spidermike007 said:

The world knows by now, that the emperor has no clothes. Trump could not negotiate his way out of a paper bag, if his life depended on it. He is a terrible negotiator, unless he is buying a 10 unit apartment building in Manhattan, and the seller absolutely needs to sell. 

 

Hopefully, Trump will not be party to any negotiations, as all he does is destroy any hope of success. He is outclassed by Xi, to the tune of 75 IQ points. And I am no fan of Xi!

 

Banging on about the IQ thing (obviously, no support offered) sounds like something Trump would have tweeted.

[Matzzon]

And the conclusion of the meeting......?

[jany123]

5 minutes ago, Matzzon said:

And the conclusion of the meeting......?

Lol... I know. Nail biting edge of the seat stuff, innit? But unfortunately...

 

6 hours ago, rooster59 said:

Trump, set to hold a high-profile meeting on trade with Chinese President Xi Jinping on Saturday, also made a push to discuss U.S. concerns about Chinese telecoms equipment maker Huawei at his meetings.

 

[Redline]

I don'r agree with Trump's strategy, but China needs to be confronted head on

 

https://www.washingtonpost.com/opinions/2019/06/27/chinas-efforts-undermine-democracy-are-expanding-worldwide/?utm_term=.4c7def7cf75d&wpisrc=nl_todayworld&wpmm=1

 

This article shows the encompassing nature of their plan 

Edited June 28, 2019 by Redline

[Dumbastheycome]

Be prepared for a standoff to any real concessions  by China.

There remains the propagandist perception that the US  has  a superior position.

China continues to forge various  collaborative developments  with  other nationalities  while the US  closes it's  doors in favor of protectionist policy.

Trump himself back in his  campaign for Presidential approval extolled the obvious effectiveness of  Chinese tactics versus the stupidity of the US in terms of trade, negotiation , expansionism etc ,in terms of  being the "singular " guru  who  could head them off.

He has and is failing with the exception of  slowing global economics which coincidentally lowers or slows environmental damage despite his denial even of the impact of corporate driven consumerism  for profiteering. Maybe the  only  virtuous impact he  has made!

The US and Trump attempt to perpetuate the myth that the World is their care taken property.

A myth based on superior militaristic enforcement. That superiority  may or may not still be valid but the only superiority the US really has is the  knowledge to significantly test it would more likely than not  be  globally suicidal in all terms.

So China very typically patiently remains content with the cake Trump has  removed the icing  from.

But they still have the cake.

The US has  no cake. In fact they only have the Trump promise of icing on a cake they consumed  with  greed already.

The overall reality is that the US is assisting the consolidation of a change in global significance.

For  better or worse?

 

 

 

 

 

[Tug]

6 hours ago, Traubert said:

Or hoping Trump's replacement can find his ar*e with both hands. They are bored with running rings round him. It's not so much fun now.

Hey I guess it was brilliant stabbing all our allies in the guts before embarking on this trade war with China who needs friends when you can fight your battles with other people’s money don’t be a mark

[Cryingdick]

Let Xi rot and walk away if the deal isn't good. The sanctions aren't appearing on shelves yet in the USA. Also the average American could consume less very easily if the costs did rise. The made up number of $800 a year is easily off set even if it were true. Gas is extraordinarily cheap for this time of year so it simply would offset it.

 

Let the trade war go on and the fed can cut rates 3 or 4 times this year. Meanwhile companies continue to make arrangements to leave China and when they do they won't be coming back.

 

If the average American family isn't willing to trim a buck here and there it isn't my concern, stop having so many damn kids. Funny how the dems cry about tariffs because they are a tax. Listen to them talk taxes at their debates they seem to be huge fans of them.

 

[bristolboy]

13 hours ago, Emdog said:

The tariffs (taxes) are estimated to add over $800 per family expenses thanks to Trump. Damaging American businesses while China cleverly expands investments and influence in SE Asia. Where is the TPP when you need it? Oh yeah, Trump bailed on that....

Actually, that figure was for the second round of tariffs that Trump imposed. The first round was a bit over $400. So right now the total is over $1200. I haven't seen any figures for the 3rd round. Anyway, this will more than obliterate whatever small gains there were for most most people from the tax cuts.

[bristolboy]

51 minutes ago, Cryingdick said:

Let Xi rot and walk away if the deal isn't good. The sanctions aren't appearing on shelves yet in the USA. Also the average American could consume less very easily if the costs did rise. The made up number of $800 a year is easily off set even if it were true. Gas is extraordinarily cheap for this time of year so it simply would offset it.

 

Let the trade war go on and the fed can cut rates 3 or 4 times this year. Meanwhile companies continue to make arrangements to leave China and when they do they won't be coming back.

 

If the average American family isn't willing to trim a buck here and there it isn't my concern, stop having so many damn kids. Funny how the dems cry about tariffs because they are a tax. Listen to them talk taxes at their debates they seem to be huge fans of them.

 

Your assertion about the effects of the sanctions not appearing on shelves yet is utterly false. There have been at least 2 analyses of the effects of sanctions on US prices. As expected it is ultimately US consumers who paid the cost. Of course there are still some people out there who actually believe Trump's ridiculous assertion that it's the Chinese who are paying the tariffs.

 

As for taxes... tariffs are a consumption tax and consumption taxes weigh more heavily on lower income taxpayers.

[Cryingdick]

3 minutes ago, bristolboy said:

Your assertion about the effects of the sanctions not appearing on shelves yet is utterly false. There have been at least 2 analyses of the effects of sanctions on US prices. As expected it is ultimately US consumers who paid the cost. Of course there are still some people out there who actually believe Trump's ridiculous assertion that it's the Chinese who are paying the tariffs.

 

As for taxes... tariffs are a consumption tax and consumption taxes weigh more heavily on lower income taxpayers.

 

I am in the USA and see the prices for myself. That's good enough for me. Many other analysts say that between the value of the Yuan and companies absorbing it the impact has been minimal to none. If the tariffs go higher it is possible it may be more apparent. Anyway I am sticking with first hand knowledge that I have not living overseas relying on some analyst to think for me.

 

 

[bristolboy]

Just now, Cryingdick said:

 

I am in the USA and see the prices for myself. That's good enough for me. Many other analysts say that between the value of the Yuan and companies absorbing it the impact has been minimal to none. If the tariffs go higher it is possible it may be more apparent. Anyway I am sticking with first hand knowledge that I have not living overseas relying on some analyst to think for me.

 

 

Because your analysis was based on rigorous data collection, Unlike those others whose judgement were informed by their political convictions.

[Cryingdick]

Just now, bristolboy said:

Because your analysis was based on rigorous data collection, Unlike those others whose judgement were informed by their political convictions.

 

If I don't notice it, then it means it isn't noticeable. If you have to look under a microscope it must not be a huge difference. Also gas prices are pretty low and that pretty much would make it a wash. Nobody around here is sitting around complaining at the dinner table about prices going up. 

 

I will trust my first hand on the ground observations to those whose judgements are dependent on their political convictions. That sounds sort of biased.

 

 

 

[bristolboy]

1 minute ago, Cryingdick said:

 

If I don't notice it, then it means it isn't noticeable. If you have to look under a microscope it must not be a huge difference. Also gas prices are pretty low and that pretty much would make it a wash. Nobody around here is sitting around complaining at the dinner table about prices going up. 

 

I will trust my first hand on the ground observations to those whose judgements are dependent on their political convictions. That sounds sort of biased.

 

 

 

Thank you for your support from oppositeland. Clearly, relying on researchers is foolish when we have a report from someone who judgements are clearly not at odds at all with his political convictions.

[Cryingdick]

Just now, bristolboy said:

Thank you for your support from oppositeland. Clearly, relying on researchers is foolish when we have a report from someone who judgements are clearly not at odds at all with his political convictions.

 

I gave my observations and not a report. It, is, like, my opinion, man.

[Scott]

Troll post reported and removed.   Keep it civil, please.  

 

[Morch]

18 hours ago, Dumbastheycome said:

Be prepared for a standoff to any real concessions  by China.

There remains the propagandist perception that the US  has  a superior position.

China continues to forge various  collaborative developments  with  other nationalities  while the US  closes it's  doors in favor of protectionist policy.

Trump himself back in his  campaign for Presidential approval extolled the obvious effectiveness of  Chinese tactics versus the stupidity of the US in terms of trade, negotiation , expansionism etc ,in terms of  being the "singular " guru  who  could head them off.

He has and is failing with the exception of  slowing global economics which coincidentally lowers or slows environmental damage despite his denial even of the impact of corporate driven consumerism  for profiteering. Maybe the  only  virtuous impact he  has made!

The US and Trump attempt to perpetuate the myth that the World is their care taken property.

A myth based on superior militaristic enforcement. That superiority  may or may not still be valid but the only superiority the US really has is the  knowledge to significantly test it would more likely than not  be  globally suicidal in all terms.

So China very typically patiently remains content with the cake Trump has  removed the icing  from.

But they still have the cake.

The US has  no cake. In fact they only have the Trump promise of icing on a cake they consumed  with  greed already.

The overall reality is that the US is assisting the consolidation of a change in global significance.

For  better or worse?

 

Even with Trump's various economic moves, I doubt that the bottom line is the USA being more "protectionist" than China.

 

And while many posters often go on about USA international involvement being motivated by economic interests, greed and whatnot - the same would apply for China's "collaborative developments".

 

[Traubert]

21 hours ago, Redline said:

I don'r agree with Trump's strategy, but China needs to be confronted head on

 

https://www.washingtonpost.com/opinions/2019/06/27/chinas-efforts-undermine-democracy-are-expanding-worldwide/?utm_term=.4c7def7cf75d&wpisrc=nl_todayworld&wpmm=1

 

This article shows the encompassing nature of their plan 

Imagine if you will, a corporate oligarchy so effective. so advanced and finely tuned that it's citizens still believe it's a democracy.

 

Not my words but it sums up the situation perfectly.

 

But the gasoline is cheap so that's ok.

[Morch]

18 minutes ago, Traubert said:

Imagine if you will, a corporate oligarchy so effective. so advanced and finely tuned that it's citizens still believe it's a democracy.

 

Not my words but it sums up the situation perfectly.

 

But the gasoline is cheap so that's ok.

 

Imagine it's still not same-same.

[zydeco]

And Trump has folded again. The weakest president in US history. I've never seen anyone completely give in on negotiations like this guy. He is utterly spineless. He has just thrown his own national security apparatus under the bus, not to mention Australia and other allies who went along with the Huawei ban just to see Trump reverse himself just to keep the market up and fake people into believing he has "won" something. I've seen smarter farm animals running around the backyard with their head's cut off. https://www.forbes.com/sites/zakdoffman/2019/06/29/trump-signals-huawei-blacklist-concession-after-xi-talks-they-can-buy-from-u-s/#333f4a5120a1