Trump says China has agreed to reduce, remove tariffs on cars

People in body paint of national flags protest the G20

G20 summit opens as leaders give Saudi prince mixed reception

At the dinner in Buenos Aires, where the two leaders were attending the G20 summit, Mr. Trump agreed to a 90-day delay of tariff increases originally set for January 1.

China's President Xi Jinping, center, and members of his official delegation, listen to President Donald Trump speak during their bilateral meeting at the G20 Summit, Saturday, Dec. 1, 2018 in Buenos Aires, Argentina.

U.S. -China relations are very special and important, Trump said, adding that it is in the interest of the two countries as well as the world that the United States and China, both countries of significant influence, maintain a good cooperative relationship.

He gave no details of how much the cut would be, or when it would come into force, and there was no immediate response from the Chinese government.

Chinese state TV said: "No additional tariffs will be imposed after January 1, and negotiations between the two sides will continue".

Xi Jinping. Photo: G20 Argentina, via Flickr.

The Saudi crown prince was thumbing his nose at the United States with his chumminess toward Putin and his insistence, despite U.S. entreaties, to continue exploring the purchase of an S-400 air-defense system from Russian Federation.

But it also stressed the need to respect different paces of economic development, as developing economies balk at going further on their Paris pledges.

Trump-Xi Dinner Offers Chance to Avert Deeper U.S.

About 10 per cent, or more than 280,200, cars China imported past year came from the U.S., according to China's Passenger Car Association.

Earlier on in the summit, emerging economies denounced protectionism. (The ships reportedly weren't actually provided by the United States.) The world's tyrants are laughing at the United States - and Trump is letting them get away with it.

Oil prices surge on output cut pledge US-China deal
USA light crude oil rose $2.92 a barrel to a high of $53.85, up 5.7 percent, before easing to around $53.00 by 0930 GMT. Yet the view that the oil market is oversupplied is a signal the cartel is laying the groundwork for action.

The move, if realized, would bolster USA vehicle manufacturers who were hit hard when China ramped up levies on US -made cars in July as part of a broad package of retaliatory tariffs amid a sprawling trade war between Washington and Beijing.

Russian President Vladimir Putin and the crown prince raised eyebrows when they exchanged a high-five and shook hands, laughing together as they took their seats alongside each other at a plenary session.

"It was the lowest common denominator".

It comes as International Monetary Fund (IMF) director Christine Lagarde urged G20 leaders to urgently de-escalate trade tensions and reverse tariff hikes.

Trump's determination to plow on with his "America First" agenda stands in contrast to the alliance-building presidency of George H.W. Bush, whose death Friday triggered warm tributes from European leaders including Merkel and French President Emmanuel Macron at the G20.

Earlier the USA president said he had postponed a planned press conference "out of respect for the Bush family", following the death of former President George HW Bush, at the age of 94.

The two world leaders met for a dinner meeting to discuss trade at the sidelines of the Group of 20 leaders' summit.

"We spoke standing up". Putin, for his part, mocked Trump by saying that "two little boats gifted to Ukraine by the U.S. couldn't even get through the Kerch Strait".

"They'll agree to a smaller deal faster if what Trump wants is a faster deal", he said, in reference to Japanese negotiators.

Earlier the U.S. president said he had postponed a planned press conference "out of respect for the Bush family", following the death of former President George HW Bush, at the age of 94.

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