Trump talks trade at G20 as China's Xi, others warn of risks of protectionism

Thứ Sáu, 28/06/2019, 16:32

U.S. President Donald Trump made clear on Friday his priority at a summit of Group of 20 leaders was trade deals to boost the U.S. economy, as other leaders such as China’s Xi Jinping warned against protectionism and its threat to the global economy.

China and the United States are locked in a trade dispute and expectations have dimmed that Trump and Xi can ease tension when they meet on Saturday on the sidelines of the G20 meeting in the Japanese city of Osaka.

Asian shares stumbled and gold slipped during the day amid rising doubts that the highly anticipated meeting of the leaders of the world’s two biggest economies would bring progress in resolving their dispute.

Trump’s administration also has trade feuds with India and Japan, whose leaders he met on Friday.

Trump said he saw U.S. trade prospects improving, days after criticizing the U.S.-Japan security treaty and demanding that India withdraw retaliatory tariffs.

“I think we’re going to have some very big things to announce. Very big trade deal,” Trump said at the beginning of talks with the Indian Prime Minister Narendra Modi.

Trump gave no details.

A White House official said the two leaders had called on their teams to work on mutually beneficial trade solutions.

Trump also made a push to discuss U.S. concerns about Chinese telecoms equipment maker Huawei [HWT.UL].

The United States has pressed its allies to shun Huawei in their fifth generation, or 5G, networks on security grounds, and it has also suggested it could be a factor in a trade deal with Xi.

“We actually sell Huawei many of its parts,” Trump said at his meeting with Modi. “So we’re going to be discussing that and also how India fits in. And we’ll be discussing Huawei.”

Reuters