U.S. President Donald Trump is open to reaching a deal on U.S.-China trade irritants over dinner on Saturday with Chinese leader Xi Jinping but is ready to hike tariffs on Chinese imports if there is no breakthrough, White House economic adviser Larry Kudlow said on Tuesday.
President Trump and his Chinese counterpart Xi Jinping will meet at the G-20 summit in Argentina next month, the White House announced on Tuesday, amid an escalating trade war between the world’s two largest economies. The G-20 Summit, comprising top 20 economies of the world, including India, is scheduled to take place in Buenos Aires in Argentine on November 30 and December 1.
President Trump's chief economic adviser Larry Kudlow says that trade negotiations with the European Union are set to begin immediately following a meeting between Mr. Trump and European Commission President Jean-Claude Juncker. The two agreed to work toward zero tariffs and hold off on additional tariffs at the meeting at the White House on Thursday.
Beijing has dropped an anti-dumping investigation into imported U.S. sorghum, which it had accused the United States of unfairly subsiding. It has also given approval for a U.S. private equity firm to buy Toshiba's memory chip business. Those gestures could suggest a thaw with the U.S. as trade talks went on in Washington in an atmosphere of hopefulness but hardly assurance of a breakthrough in the impasse.