Trump, XI Likely to Meet at Upcoming G-20

Dan Industry News Release, Trade

An Associated Press article says U.S. President Donald Trump and Chinese President XI Jinping may meet during the G-20 summit in Argentina scheduled for late November. China says it is in contact with the U.S. amid reports of the upcoming meeting.


President Donald Trump and Chinese President XI Jinping

A Chinese Foreign Ministry spokesman offered no specifics but did say he’d seen the relevant reports. Trump’s top economic adviser Larry Kudlow tells CNBC that there is “some movement” toward a meeting at the G-20. Kudlow says, “They have lots to talk about, so we’ll see.”

On the word of the potential meeting, global indexes had gained after a couple days of sharp drops. Treasury Secretary Steven Mnuchin has advised against naming China a currency manipulator, which is something that would trigger penalties, and reports say that move has eased some tensions between the U.S. and China.

It’s not currently known if the U.S. will even consider lifting $250 billion in tariffs on Chinese imports, which triggered retaliatory tariffs on American imported goods. Despite the U.S. tariffs on Chinese goods, the trade deficit between the two countries defied expectations and widened in both August and September of this year.

Source: National Association of Farm Broadcasting News Service.