U.S., China exploring deal to delay more tariffs, start talks

U.S., China exploring deal to delay more tariffs, start talks

U.S., China exploring deal to delay more tariffs, start talks

Trump said Thursday: "I like the deal we have now".

"There's a good possibility that we can make a deal, and he is open to it", Kudlow said.

Hopes that the meeting could open the way for a deal over trade between the two countries have been undermined by recent threats by the U.S. president.

Reports on November 29 out of Washington that China-hawk Peter Navarro will be present during the meeting, and Trump's own statements before boarding the plane to Argentina, suggest that an amicable outcome from the meeting between the two leaders may be increasingly unlikely. This year, the U.S. has levied between 10 percent and 25 percent tariffs on Chinese goods - worth approximately $250 billion (€219 billion) - and China has raised its own tariffs in retaliation. Trump has said this increased revenue is a sign the U.S.is getting the result it wants from his trade war with China.

He is also threatening new tariffs on another $267 billion in Chinese goods.

China, while it has imposed retaliatory tariffs of its own on more than US$100b of United States imports, has made some concessions by opening segments of its economy to greater foreign investment and promising wider liberalisation.

Trump is also scheduled to meet with Chinese President Xi Jinping with the USA and China locked in a trade dispute.

The summit's host, Argentine President Mauricio Macri, said the matter would be "on the table" during bilateral and possibly broader meetings.

NASA's Martian quake sensor In Sight lands at slight angle
NASA's Martian quake sensor In Sight lands at slight angle

Meanwhile, Democrats are ready to pounce if Trump lets China off the hook without getting significant concession on concerns about intellectual property theft and forced technology transfers that prompted him to impose tariffs in the first place. Farmers have been especially hard hit by the trade dispute.

In a Twitter post on Thursday, Trump said: "Billions of Dollars are pouring into the coffers of the United States of America because of the Tariffs being charged to China, and there is a long way to go". He's put tariffs on $250 billion of Chinese-made goods this year in an effort to make US-made products more attractive to consumers. Trump has given the prince a pass while citing exaggerated claims of Saudi military contracts and investments in the USA, and Putin has not criticized Saudi Arabia or the prince either.

President Xi Jinping and US President Donald Trump are due to hold closely watched talks on the sidelines of the summit.

They said the meeting signifies the importance that both leaders attach to the issue of climate change.

While Trump pointed to Russia's actions this week against Ukraine as the reason behind his cancellation of talks with Putin, many analysts have speculated that the decision was impacted by a surprise Thursday morning guilty plea from the president's former lawyer Michael Cohen.

The options for solving the Sino-U.S. problems are all on the table, a Chinese diplomat said in Washington on Wednesday, adding both sides have stepped up communication and he was optimistic about the Xi-Trump talks. The White House said Trump made the final decision to cancel the meeting while aboard Air Force One.

On Thursday, Mr Macron criticised protectionist stances by Mr Trump but said they have no plans for a one-on-one at the summit.

"I know the president's schedule is pretty packed, and has a number of sessions that he'll be involved in", said Sanders.

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