Intellectual property to take center stage as Trump and Xi meet

US calls China’s tariffs on American autos ‘egregious’ | Idaho Statesman

In a statement Wednesday, U.S. Trade Rep. Robert Lighthizer complained that China slaps 40 percent tariffs on U.S. auto imports - more than the 15 percent tariffs it imposes on other countries and the 27.5 percent U.S. tax on Chinese auto imports. The South American host has outlined three priority areas for its G20 agenda: "the future of work", "infrastructure for development" and "a sustainable food future".

"As the president has repeatedly noted, China's aggressive, state-directed industrial policies are causing severe harm to US workers and manufacturers", Lighthizer said.

After imposing a raft of tariffs on Chinese goods and threatening more to come, the United States president is due to meet with Chinese counterpart Xi Jinping for a working dinner in Buenos Aires.

Absent some agreement, the rate of the existing tariffs on US$200 billion (NZ$291 billion) of China's exports to the USA will rise from 10 per cent to 25 per cent from January 1.

In September, the USA slapped a 10 per cent tariff on an additional $200 billion in Chinese imports, and that levy will rise to 25 per cent in January 2019, and Trump threatened to include another $267 billion worth of Chinese exports in the punitive measure. The administration this summer removed hundreds of items from the list of imported goods subject to tariffs after lobbying from USA companies.

Asked if China was seeking to prevent more United States tariffs at the high-stakes meeting, the ministry's spokesman, Gao Feng, said economic teams from both sides were in contact to implement a "consensus" reached by Mr Trump and Mr Xi in a phone call this month. "I expect (US president Donald) Trump to be very warm with him, but European leaders probably are going to be very reluctant to have their pictures taken with him".

If G20 negotiations fall through, Trump has threatened to add a 10 or 25 percent tariff on Chinese imports that are not now taxed, including iPhones. Economists and market-watchers are beginning to speculate about a serious recession on the way.

"There may be a statement of principles (in Buenos Aires), confirming they will maintain negotiation and communication, but I think it will be hard to reach a comprehensive agreement, because to do that both sides need to make big concessions", he said.

If that is what happens, it will speak volumes about how the balance of power is shifting between Washington and Beijing.

The White House rebuke appears to fly in the face of long-held Republican opposition to picking winners and losers in the marketplace. Mnuchin is urging Trump to avoid confrontation and seek compromise.

Trade and tariffs have been topics of increasing tension between the U.S. and China.

A decade on, that unity has vanished as the "America First" Trump shreds the consensus underpinning worldwide trade and other G20 countries such as Brazil, Italy and Mexico turn to populist leaders.

Financial markets though are less concerned about the ability of the leaders to present a united front and more anxious about the outcome of key bilateral meetings.

Owner of giant Perth steer named Knickers describes the beast's huge appetite
But owner Geoff Pearson of Lake Preston in the state's south-west said Knickers was not destined for the barbecue anytime soon. For now, the title for Tallest Steer (living) belongs to a chianina ox named Bellino from Rome.

It refuses to accept the rule of law and an independent judiciary. He's put tariffs on $250 billion of Chinese-made goods this year in an effort to make US-made products more attractive to consumers.

But how far can Xi go in overhauling the model that has powered China to second place in the world economic rankings?

"Will we even have a communique?"

Trump, as his appalling record as a businessman shows, is largely ignorant of basic economics.

"To that end, it is necessary for us to agree on how to promote this growth in trade".

"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. "The U.S. saved General Motors, and this is the THANKS we get!"

Shannon O'Neil, an expert on global trade at the Council on Foreign Relations, said she believes it "very likely" that the tariffs will take effect in January.

Mr Macron also called for worldwide involvement and "complete clarity" in investigations into the killing of dissident Saudi journalist Jamal Khashoggi, and said European leaders should discuss it at a meeting Friday.

Trump wants the European Union and Japan to buy more American-made vehicles. The danger is that he ignores his intuition and is captured by the White House hardliners. But Xi Jinping is another brand of imperial leader entirely.

But American manufacturers that use steel, including automakers, have argued that the tariffs have made the cost of domestic production more expensive.

Their economy already dominates much of their Asia-Pacific neighbourhood.

Backing up this projection of economic power is an increasingly potent military force, which is already a serious deterrent against freedom of movement by US and allied forces around China.

China claims nearly all of the South China Sea.

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