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Goldman Says Trade War Escalation ‘Most Likely’ Outcome of Trump-Xi Dinner

02 December 2018
Goldman Says Trade War Escalation ‘Most Likely’ Outcome of Trump-Xi Dinner

The G20 summit of the most powerful countries in the world opened in the Argentine capital Buenos Aires with a call for dialogue and consensus from Mauricio Macri, the president of the country hosting the event.

But the prince appeared to receive a more critical reception from French President Emmanuel Macron, who was overheard on a microphone voicing concerns. "I think they want to and I think we'd like to so we'll see".

A senior White House official said that the statement met numerous US objectives and was the first time the G20 has said that the WTO is falling short of its objectives and needs reform.

Saudi Arabia has denied that bin Salman played a role, but some leaders may be cool toward him to avoid seeming to legitimize a man who USA intelligence agencies concluded ordered the killing.

British Prime Minister Theresa May has said she will meet the crown prince and deliver a "very clear" message.

Macron said he would raise the killing of journalist Jamal Khashoggi with the crown prince on the sidelines of the summit. Turkish President Recep Tayyip Erdogan, who has been sharply critical of Saudi Arabia over the incident, is also in attendance.

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

All eyes are also on a scheduled dinner today between Mr Trump and President Xi Jinping, which may determine whether US-China trade tensions abate or worsen towards the planned hike of US tariffs on all Chinese goods, which is due to take effect on Jan 1.

While Trump's meeting with Xi is all but certain to go ahead, the United States president on Thursday abruptly scrapped his planned talks with Putin, citing Russia's recent seizure of Ukrainian vessels. The Kremlin said it was willing to be "patient" in arranging a meeting with Trump.

Trump met Friday with Japanese Prime Minister Shinzo Abe and Indian Prime Minister Narendra Modi in a rare trilateral meeting.

Actors stage a performance under a banner that reads in Spanish

The bilateral meeting, however, tackled infrastructure and energy initiatives following an agreement between the U.S. Overseas Private Investment Corporation and the Argentine government on Wednesday, pledging to allocate as much as $800 million to explore oil and natural gas in the Vaca Muerta field, located in the northwestern province of Neuquén, El Clarín reported. The European officials told The Associated Press that the US negotiator said too much talk about the issue would have been a "deal-breaker" for Trump. "I do not think there was a reference in those terms", Faurie told reporters earlier on Friday, adding that the meeting was handled in a cordial way.

Argentina's presidency voiced optimism that consensus would be reached, but a White House official said the United States would walk away from any statement that prejudiced USA positions.

"A fight between two big players does not benefit", said Dante Sica, Argentina's minister of production and labour.

"These agreements are massive, and a vast number of technical details need to be scrubbed and wrapped up", she said.

The pact must still be approved by politicians in all three countries.

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.

"You've done a lot of things that they've wanted over [in Australia] and that's why you're sitting right here."
"But I can't imagine having a new Nafta is going to be Pelosi's first priority when she comes in, so I'd expect it to be drawn out".

His decision came as a United States probe into Russia's role in Trump's election campaign intensified. Trump has threatened fresh tariffs and set a January deadline for raising the existing ones from 10% to 25% on a range of goods.

President Macron was quoted by AFP news agency as saying he would refuse to sign a trade deal with South America's Mercosur bloc if Brazilian President-elect Jair Bolsonaro withdrew from the Paris climate accord. But his party dominates parliament and neither faces re-election until 2022.

In a video posted by the Saudi Gazette newspaper the two leaders can be seen speaking in hushed tones with their heads close together.