Published: Fri, November 30, 2018
Markets | By Otis Pena

Trump raises prospect of import auto tariff after GM cutback plan

Trump raises prospect of import auto tariff after GM cutback plan

The trilateral, which would be an expansion of the bilateral meeting between Trump and Abe, is part of the series of meetings the United States president would have on the sidelines of the G-20 summit on November 30 and December 1.

Trump is also expected to meet with the crown prince.

Trump has imposed steep punitive tariffs on about half of the Chinese goods imported into the United States market each year, and has threatened to target the remaining $267 billion in goods as well - which would hit Apple iPhones and laptops produced in China.

President Donald Trump on Wednesday once again raised the specter of auto tariffs.

Speaking ahead of the G20, one senior official said the Trump-Xi focus was "the only game in town" at the summit on Friday and Saturday in Buenos Aires. Trump and Xi will have dinner on Saturday night.

Non-members attending the summit include countries chairing key regional groupings like African Union (Rwanda), Association of Southeast Asian Nations (Singapore), New Partnership for Africa's Development (Senegal), and Caribbean Community and Common Market (Jamaica).

He did not rule out a meeting with Trump. But, as time has passed, the China-U.S. trade tensions have become about a lot more than economics, making my prediction of a productive outcome less certain (though still the most probable one).

Trump's hardline trade adviser, Peter Navarro, will attend the meeting between Trump and Xi, a source familiar with the situation told Reuters. Speaking with the Wall Street Journal, Trump indicated that he intends to move ahead with his plan to increase the current 10% tariff on certain products to 25%.

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They said he set the fire at his own home to destroy evidence and to make it look like the extended family was being targeted. Investigators are expected provide more details about the case during a press conference around 11 a.m.


China had already hit the United States with $3bn of tariffs in April, in response to United States tariffs on global steel and aluminium imports.

White House Press Secretary Sarah Sanders said on Thursday the trilateral meeting with Prime Minister Modi will be held towards the end of the Trump-Abe talks. I know it better than everybody knows it.

Said Argentinian President Mauricio Macri in a summit publication: "Consensus is not always assured, but that is what the G-20 is for - to bring together the views of a diverse set of players to find common ground and commit to action for a shared and prosperous future".

While the announcement sparked an immediate backlash from Trump - a threat to remove tax credits for GM's electric vehicles - the tariffs on imported steel and aluminium have nearly certainly been a factor in the decision.

The G20 summit is taking place amid mounting pressure from western countries to hold to account Saudi Arabia's Crown Prince Mohammed bin Salman, who has been widely suspected of being directly involved in the murder of Washington Post columnist Khashoggi on October 2.

Macron also called for worldwide involvement and "complete clarity" in investigations into the killing of dissident Saudi journalist Jamal Khashoggi, and said European leaders should discuss it at a meeting Friday.

Thousands of demonstrators took to the streets in a protest against the G20 summit in Buenos Aires, according to local media. Cohen said Thursday that the US President had spoken more extensively during the election with him about the project than he had initially admitted in Congress.

As the leaders arrived, Argentine security forces began locking down the central business district in Buenos Aires on Thursday.

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