U.S. Trade Deficit Rises Despite Trump’s Tariffs

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

"We are in a position to deal with it and handle it very well", he told reporters. "I don't think right now that the markets are pricing in that we'll get any sort of clarity from these meetings", Cruz told Benzinga.

The president has pledged to reduce America's trade deficit by pursuing new trade agreements with countries he argues are engaging in unfair trade policies, especially China.

The rising tensions have seen the two countries hit each other with tit-for-tariffs on goods worth hundreds of billions of dollars in sectors from automobiles to agriculture and energy, stymying trade and redrawing global supply chains.

Earlier this month, officials from countries attending a major Asia-Pacific summit failed to agree on a joint statement for the first time as the United States delegation, led by Vice President Mike Pence, clashed with China over trade and security.

Climate change and a US-China trade deal are also on the agenda at the meeting bringing together the leaders of the 20 most industrialised nations.

Kudlow's comments come after Trump reiterated a threat Monday to tack on duties on an additional $267 billion in Chinese exports if a trade deal isn't reached.

"This is not a good year for multilateralism", said a German government source about talks on a final statement that the leaders are due to issue at the end of their meeting on Saturday.

"If the United States does not buy Chinese products and USA technology is not forthcoming, would that really benefit US companies?" said Xu Nanping, China's vice minister of Science and technology.

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Peter Navarro, Trump's hardline trade adviser, will attend the meeting between the leaders, a USA official told Reuters.

When President Donald Trump travels overseas, he increasingly likes to keep it quick.

U.S. President Donald Trump will meet his Turkish counterpart Recep Tayyip Erdoğan during the G20 summit in Argentina, Trump's top security aide said November 27.

Mr Morrison will also begin with a meeting with French President Emmanuel Macron to discuss the $50 billion contract being negotiated with a French state-owned company to build Australia's newest submarine fleet.

Trump, standing in between his Canadian and Mexican counterparts, said the new deal was a model agreement that would stop auto jobs from going overseas, protect intellectual property rights and provide robust protections for digital trade and financial services.

In Thursday afternoon tweets, United States President Donald Trump abruptly called off a planned meeting with Russian President Vladimir Putin over Russia's seizure of Ukrainian navy ships in disputed waters off the Crimean peninsula on Sunday.

Cell phones and computers, among China's biggest exports to the United States, have been spared as the administration has sought to minimize the impact on US consumers. The two sides also held discussions on enhancing investment in technology, renewable energy and food security.

But now "the fact that the G-20 is taking place in South America for the first time is nearly beside the point", Shifter said, noting that Macri has lowered expectations for the event.

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