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What To Expect From The Trump-Xi Meeting

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What To Expect From The Trump-Xi Meeting

U.S. President Donald Trump and his Chinese counterpart Xi Jinping will meet face to face Saturday at the G-20 summit in Osaka, Japan.

The Main Event

Heading into the G-20 summit, U.S. and Chinese negotiators failed to finalize a trade deal that would potentially put an end or pause to recent tariffs. The two leaders will meet Saturday morning to talk about multiple issues, although trade will be the main focus.

One of the more likely outcomes would be the two leaders agreed to a temporary pause in escalating the ongoing trade war, CNBC reported. Trump made it clear the complete opposite outcome is on the table as new tariffs on $300 billion of new goods would be levied on China if he doesn't like what Xi has to say.

Speaking to reporters on Friday, Trump said his meeting with Xi will be "productive at a minimum" and "we'll see what comes out of it."

Morgan Stanley CEO: Trade War Could Be 'Devasting'

The U.S. and China represent tens of trillions of dollars of GDP so any trade war would be "devastating" to the global economy, CNBC quoted Morgan Stanley chairman and CEO James Gorman as saying. The world simply "can't have a trade war."

This doesn't imply changes to existing trade agreements can't be made, Gorman said. This is something "negotiators are figuring out."

Related Links:

Here's Who Trump Will Be Meeting With At G-20

Trump Has A 'Plan B' If Trade Talks With China Fail

Posted-In: China CNBCGovernment News Regulations Events Global Media Best of Benzinga

 

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