Trump heads to G20 primed for new conflicts

Trump’s Chinese Tariffs Target Consumer Electronics, Including Sony and PlayStation

"It's moving very very slowly - so slowly that I think we will have to stay in this room past midnight, again", an Asian delegate who was attending the closed-door discussion told Reuters.

On Saturday, December 1, Chinese President Xi Jinping and U.S. President Donald Trump will meet on the sidelines of the G-20 summit in Argentina.

"I really don't know, but I will tell you that I think China wants to make a deal", he said.

He made the remarks as he prepared to depart for the G-20 summit meeting of world leaders in Argentina.

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.

Given that a massive amount of electronic equipment is manufactured in China, these proposed new tariffs would likely have a major impact on the video game industry.

For starters, US -imposed tariffs on steel and aluminum exports remain in place against both Canada and Mexico, as do a raft of countermeasures.

Even if Trump's import tax went up to 25 percent, as the president has threatened, moving iPhone assembly to USA shores could cost much more.

President Paul Kagame on Thursday arrived in Buenos Aires, Argentina for the G20 Leaders' Summit.

If the conflict between China and the United States continues to escalate, non-tariff barriers particularly in the technology sector are likely to become increasingly popular.

In a tweet on Thursday, however, Trump said, "Billions of Dollars are pouring into the coffers of the United States of America because of the Tariffs being charged to China, and there is a long way to go".

Argentina G20 Summit
Saudi Arabia’s Crown Prince Mohammed bin Salman adjusts his robe

US and Chinese officials have been engaged intense talks in the weeks leading up Saturday's meeting.

He said the goods that would be affected represented only "a fraction of our economy" and that the USA was in "better shape to weather this than the Chinese are".

Asked if China was seeking to prevent the imposition of additional US tariffs at the 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.

Trump canceled a meeting with Putin at the summit, citing Russia's recent seizure of Ukrainian naval vessels and crews.

Additional data due out next week on trade of both goods and services is expected to show a 10-year high in the overall trade deficit, said Ian Shepherdson, chief economist at Pantheon Macroeconomics.

While others in the administration are also clearly concerned about China's growing geopolitical influence and see its "One Belt, One Road" initiative as inimical to USA interests, Trump's perspective is narrower and more parochial.

"The meeting is equally needed by both sides and important for the development of the general situation in the world", Ushakov said.

"I know the president's schedule is pretty packed, and has a number of sessions that he'll be involved in", said Sanders.

Trump will also hold bilateral meetings with South Korean President Moon Jae-in, Turkish President Recep Tayyip Erdogan, Japanese Prime Minister Shinzo Abe, Argentine President Mauricio Macri and Russian President Vladimir Putin, said White House National Security Adviser John Bolton.

He noted that at the G20 summit in Germany past year, Trump and Putin spent nearly an hour together at a dinner hosted by German Chancellor Angela Merkel.

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