In this file:
· President Trump Urged to Use G20 to End Trade War
· China hopes for positive results from talks with U.S. at G20
President Trump Urged to Use G20 to End Trade War
Brian Kuehl - Farmers for Free Trade
Farmscape for November 29, 2018
U.S. President Donald Trump is being encouraged to use the meeting of the G20 to resolve the global trade war.
In a letter to the White House, Americans for Free Trade has urged President Trump to use the G20 meeting to end the trade war ahead of tariff increases due to take effect New Year's Day.
Brian Kuehl, the Executive Director of Farmers for Free Trade, says all nations are being hurt by what has escalated into a global trade war.
Clip-Brian Kuehl-Farmers for Free Trade:
The parties that win in a trade war are the parties that are not in the trade war.
As the U.S. and China bash each other other countries around the world have opportunities so Brazil is positioned to sell soybeans to China as China stops buying U.S. soybeans and Australia is positioned to sell beef to China as China stops buying beef.
Conversely Cambodia is in a position to sell electronics to the U.S. as the U.S. stops buying Chinese electronics so it's the other countries that are not in the trade war that tend to win.
The U.S. is also in a trade war with Canada.
We've put tariffs on inbound steel and aluminum.
Canada has retaliated by putting tariffs on processed foods among other products coming into Canada.
Everybody is getting hurt in this trade war.
Canada is getting hurt, the U.S. is getting hurt so the G20 is really critical.
We'd like to see the United States and China move forward to deescalating the trade war.
It doesn't mean that we shouldn't address these issues around intellectual property.
China is clearly being a bad actor on a lot of fronts but we shouldn't cut off our nose to spite our face.
We shouldn't have tariffs placed on all manner of products, billions of dollars in drag on the economy while we try to resolve this dispute.
Let's try to resolve the dispute using trade mechanisms through the WTO and other mechanisms and let's work together as a coalition to convince China that they need to change their behavior.
China hopes for positive results from talks with U.S. at G20
Reporting by Yawen Chen and Ryan Woo, Susan Heavey in Washington; Editing by Robert Birsel and Bernadette Baum, Reuters
November 29, 2018
BEIJING (Reuters) - China is hoping for “positive results” in resolving a trade dispute with the United States at a G20 summit in Argentina, the commerce ministry said on Thursday, ahead of a closely watched meeting of Chinese and U.S. leaders.
U.S. President Donald Trump and Chinese President Xi Jinping are due to hold trade discussions on the sidelines of the G20 summit in Buenos Aires on Saturday.
Asked if China was seeking to prevent the imposition of additional U.S. tariffs at the high-stakes meeting, the ministry’s spokesman, Gao Feng, said economic teams from both nations were in contact to implement a “consensus” reached by Trump and Xi during a phone call this month.
“I hope that the United States and China could move towards each other and work hard to achieve positive results in the meeting,” Gao said, without giving any details.
The United States has levied additional duties of between 10 percent and 25 percent on $250 billion of Chinese goods this year as punishment for what it calls China’s unfair trade practices, with the 10 percent tariffs set to climb to 25 percent next year.
A Reuters poll on Wednesday showed China’s factories likely struggled to grow for a second straight month in November as cooling demand at home and the threat of higher U.S. tariffs stifled new orders.
“The Chinese side has repeatedly stressed that the essence of Sino-U.S. economic and trade cooperation is about mutual benefit and win-win,” Gao said.
White House officials said this week Trump was open to making a trade deal with Xi when they meet...