What are the White House and China signaling?īoth White House and Chinese officials have spoken out about their expectations for the summit.Ĭhina’s vice minister of commerce said at a press briefing last week that he hopes “both sides can work together on the basis of mutual respect, balance, honesty, and mutual benefit and finally find a solution to solve the problem.” Currently, these businesses must establish a joint venture with a Chinese company that holds the majority stake, something the Trump administration has opposed. businesses that want to operate in China. Kudlow at a White House press briefing on Tuesday listed three other items of interest: intellectual property theft, forced technology transfers and issues of ownership for U.S. Tariffs are likely to be front and center. It is unclear whether there is any formal agenda for the dinner, but there are a number of issues that could be discussed. Navarro is known for his hardline economic approach toward China’ and has frequently found himself at odds with others within the Trump administration, including Treasury Secretary Steve Mnuchin and White House economic adviser Larry Kudlow, who prefer a more moderate stance. The White House has not released the names of other officials who plan to participate, but the South China Morning Post reported Thursday that White House trade policy adviser Peter Navarro would attend. Top aides to both leaders will also attend.Ī tariff hike would likely hit not only China’s businesses but U.S. Trump is scheduled to have a dinner meeting with the Chinese leader Saturday evening. Here’s what we might see on trade during the G20 meeting. consumers as well, because it would be much more difficult for companies in both countries to absorb the added costs. 1.Ī tariff hike would likely hit not only China’s businesses but U.S. Trump has threatened to expand tariffs to cover more products and raise the existing import tax on 5,745 goods from 10 percent to 25 percent if the two nations cannot come to an agreement before Jan. China responded with its own tariffs on $110 billion worth of U.S.
has imposed tariffs on $250 billion of Chinese goods, including chemicals, food, fabric and steel. But officials on both sides in recent days have played up the possibility of a truce, raising hopes that the dispute will not escalate further. Few people expect President Donald Trump and Chinese President Xi Jinping to end their trade war when the leaders meet Saturday at the G20 summit in Buenos Aires, Argentina.
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