Published: Sun, December 02, 2018
Markets | By Erika Turner

G-20 statement supports global trade but calls for changes to WTO

G-20 statement supports global trade but calls for changes to WTO

Saturday will also see a highly anticipated meeting between Trump and Chinese President Xi Jinping, whose nations have been embroiled in an escalating trade war with new USA tariffs on China goods set to take effect a month from now.

White House bureau chief for Voice of America Steve Herman has since revealed that the natural disaster was felt within Buenos Aires, where the summit is taking place.

That had led to greater confidence among some advisers that Saturday's dinner with Xi could produce a breakthrough, even though no official has been willing to explicitly say they expect the two men to come to an agreement.

Diplomats from the Group of 20 countries were haggling hard over a final summit statement, with deep divisions over what language to use on the Paris climate accord and the World Trade Organization.

"I know you've done a fantastic job in a very short period of time", he said.

Meanwhile, U.S. Trade Representative Robert Lighthizer said Wednesday that Trump had to look at how to increase tariffs on Chinese vehicle imports from 27.5% to 40%, to bring them in line with the tariffs China levies on U.S. auto imports-China imposes lower tariffs of 15% on imports from other countries.

He said cooperation with the USA would serve in the interest of "peace and prosperity".

The officials said the US was also blocking any mention of migration in the final statement.

So, there really wasn't any disputing that the USA was going to recognize it's position, ' the White House official said. "We are debating (trade and climate change) more closely because we want to reach the consensus of all the countries involved".

Argentine Foreign Minister Jorge Faurie said the final communique does not require the signature of presidents. It also notes a recent United Nations report that warned damage from global warming will be much worse than previously feared, and expresses support for an upcoming United Nations climate meeting in Poland meant to nail down how countries will meet promises made in the Paris accord.

Their declaration was meant to encourage other G-20 members to do the same, and to provide a boost for an upcoming United Nations climate summit.

Trump met in the morning with summit host and Argentine President Mauricio Macri at the presidential palace known as the Casa Rosada, or Pink House.

MPs to vote on May's Brexit deal on 11 December
May added: "Exactly how it might be done, if he takes it up, would be a matter for the broadcasters to determine. She told the SNP's Philippa Whitford: "I should not have used that language in that speech".

Apart from the main agenda, which focuses on sustainable food culture, the future of work and infrastructure for development, there are several other trends and events to watch out for.

The presence of Saudi Arabian Crown Prince Mohammed bin Salman at the summit also made waves amid swirling controversy over the murder of Saudi journalist Jamal Khashoggi in the Saudi consulate in Istanbul on October 2.

French President Emmanuel Macron said he told the prince in a separate meeting that Europeans will insist on worldwide experts being part of the investigation into Khashoggi's killing, Reuters reported. Trudeau asked Mr. Trump to lower the newly imposed steel and aluminum tariffs.

It is to be bin Salman's first significant appearance overseas since the killing.

German Chancellor Angela Merkel is one of the leaders due to sit down with Trump on Friday.

"If they don't shape up, I would withdraw from the WTO", he told Bloomberg News in August, adding that the agreement establishing it was "the single worst trade deal ever made".

It must still be ratified by lawmakers in all three countries, and passage in the US could face a tough road in the House of Representatives after Democrats won a majority in November midterm elections.

But Mr. Trump sent mixed signals later on Thursday about the prospects for a trade deal with China, saying an agreement was close but he was not sure he wanted one.

Trade agreements should "move along with the economy", Pena Nieto said.

Trump is set to meet with Chinese President Xi Jinping at the G20 summit this week in Buenos Aires, Argentina amidst the intensifying trade war between the world's two largest economies.

May is the second prime minister to visit Argentina and the first to visit Buenos Aires since the brief but bloody war. The two countries went to war over the South Atlantic archipelago in 1982.

British Prime Minister Theresa May, speaking to Sky News before the summit, said she would press the crown prince both on Yemen and Khashoggi at the G20.

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