Published: Sun, December 02, 2018
Finance | By Kristine Clayton

World waits to see if Trump, Xi reach 'ceasefire'

World waits to see if Trump, Xi reach 'ceasefire'

The G20 world leaders are now gathered in Buenos Aires for the 2018 summit which aims towards reaching agreement on key global issues.

Russia's President Vladimir Putin, center, and Saudi Arabia's Crown Prince Mohammed bin Salman greet each other at the G20 Leaders' Summit in Buenos Aires, Nov. 30, 2018, as President Donald Trump enter the room.

Argentine President Mauricio Macri, who was also the term president for the summit, welcomed guests, including 19 world leaders and European Union representatives. The European officials told The Associated Press that the USA negotiator said too much talk about the issue would have been a "deal-breaker" for Trump.

The World Trade Organization is on the verge of becoming dysfunctional, just when it is most needed to fulfil its role as umpire in trade disputes and as the watchdog of global commerce.

"I believe in our capacity to make the spirit of dialogue and cooperation triumph", Mr Macron said at a joint news conference with Mr Macri, warning that if nations "close down", the alternative could be trade wars or armed conflict.

Argentina's security minister said eight petrol bombs were discovered in an area of the capital several miles from the summit venue where a protest drew thousands of demonstrators, who held up banners with slogans like "Go away G20" and "Go away Trump".

Scott Morrison and Donald Trump have met for the first time since Mr Morrison became Prime Minister, with the pair due to hold official talks at the G20 in a few hours' time.

"It's a consensus that meets numerous U.S.'s biggest objectives", said the official.

Global financial markets will take their lead next week from the outcome of talks between Trump and Chinese President Xi Jinping over dinner on Saturday, aimed at resolving differences that are weighing on global economic growth.

For the first time in history, Argentina is hosting the G20 summit, which, besides political gains, gives the country a chance to showcase its culture, traditions and hospitality.

Her temporary absence could complicate French President Emmanuel Macron's attempts to build a European front against Trump at a meeting of EU leaders attending the G20 on Friday morning.

With Trump feuding with close United States allies, not least on climate change, two major summits this year ended without once-routine statements - those of the Group of Seven democracies and the Asia-Pacific Economic Cooperation forum.

Over their meal, following the conclusion of the G-20 leaders' meeting here, Trump and Xi who will be joined by only a small group of advisers are to discuss trade and other matters, the president told reporters during a meeting with German Chancellor Angela Merkel.

Among the other leaders at the summit will be Saudi Crown Prince Mohammed bin Salman, the focus of tensions over the murder of one of his prominent critics in October.

They agreed on the need for "maintaining vigorous enforcement of existing sanctions to ensure the DPRK understands that denuclearization is the only path", Sanders said, using the North's official name, the Democratic People's Republic of Korea. Saudi Arabia has blamed "rogue agents" but suspicion has fallen on the prince for ordering the killing.

"The trade war between the United States and China does not favor global commerce".

The leaders arrived on Thurs-day, and the tensions were already apparent. European Union officials told The Associated Press that the USA was the main holdout on nearly every issue.

"We're working very hard".

"You've done a lot of the things that they've wanted over there and that's why you're sitting right here". I think we'd like to.

Both sides have imposed tariffs on billions of dollars' worth of goods.

Hopes of progress over tariffs in Mr Trump's expected talks with Chinese leader Xi Jinping have been dampened.

Trump has long railed against China's trade surplus with the United States and Washington accuses Beijing of not playing fairly on trade.

"But in terms of doing a deal. that's entirely up to the president of the United States and the president of China".

Thaw in China-U.S. relations?

With trade tensions between the U.S and China dominating the summit, the Europeans sought to play mediator.

Like this: