No easy remedy for US-China tensions

US President Donald Trump talks to reporters as he departs for travel to Argentina and the G20 Summit from the White House in Washingt

"What will aid [Mr Xi] is news that the USA trade deficit is at a record high and the fact that China is a major investor in USA government Treasury Bonds". The president has repeatedly stated his simple solution: Make the iPhone in the United States. Two-way trade reached 13.8 billion US dollars past year.

Trade tensions between the U.S. and China, concern over the murder of Saudi journalist Jamal Khashoggi and calls to put climate action back on track form the background of the G20 summit in the Argentinian capital.

Supporting comments made earlier this year, US President Donald Trump has plans to enact additional tariffs on more than $200 billion in imported Chinese goods.

And if that were to happen, China would inevitably retaliate, as it already has for earlier US tariff announcements.

Xi is due to meet his USA counterpart Donald Trump at the gathering in Argentina this week, with Washington threatening to ramp up a trade war with Beijing if it doesn't allay United States concerns over intellectual property theft and China's forced technology transfers.

But foreign firms in China complain that such promises are all too routine, and analysts doubt that Trump and Xi's talks over a working dinner will serve up much beyond a commitment to negotiate further.

Trump also said he might impose tariffs on the remaining US$267 billion in imports, including Apple computers and iPhones made in China.

"As far as other countries are concerned, that's up to them". But she added that "a tradeable risk bounce on a paper deal at G20 will be unlikely to reverse sentiment structurally as the underlying US-China relationship is still deteriorating".

Lighthizer called China's policies on auto tariffs "egregious" and said China's tariff on US automobile imports is 40%, compared to the USA tariff on Chinese auto imports of 27.5%.

A big deal. "I would put that as a small chance because I don't think there's been enough homework to lay the foundation, and I think some of the issues the Chinese have indicated they're really not willing to move on", said David Dollar, a China trade expert at the Brookings Institution.

There is little reason to be optimistic about the outcome of the dinner between Xi Jinping.and Donald Trump.

While Trump and his advisers have expressed optimism that the two sides will reach a deal at the meeting, they have also warned that China hasn't yet offered the sort of meaningful concessions that the Trump administration wants to see.

The two sides have also been eyeing a possible mid-December trip to Washington by Liu He, Xi's top economic adviser, according to two people familiar with the discussions.

Trump also said he believed Beijing was hoping to strike a deal. First, the Trump administration's tougher approach to China - while often crude in its articulation (especially on trade) - is grounded in long-standing bipartisan concerns about Beijing's behaviour and its effect on the U.S. and its allies in the region. Trump has apparently not yet decided whether this new tariff will be 10% or 25%, but when asked about potential backlash, he indicated that consumers would "very easily" accept a 10% increase on phone prices. "I'm open to making a deal", he said. But even more goods are likely to feel the pain, if Mr. Trump does escalate his tariffs.

The agreement, reportedly worth US$8 billion, would be for the construction of the Atucha III nuclear power plant that would be financed with Chinese money.

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