What to expect from the crucial G-20 meeting between Trump and Xi this weekend
Discussions around trade are expected dominate the G-20 summit, with the meeting between Trump and Xi likely to overshadow much of the main agenda at Bueno Aires — but most experts are not expecting any breakthrough in the ongoing U.S.-China tariff fight.
Trump himself has indicated as much. Before departing for Argentina, the president told reporters that the U.S. is “close to doing something with China but I don’t know that I want to do it.”
To Gary Locke, former U.S. ambassador to China, that statement shows that Trump is preparing the world for a “no deal” outcome.
“Because there have been really no substantive negotiations over the last several weeks or months, at most, there might be an agreement for the president to withhold further tariffs, not adding to the tariffs already imposed on some $250 billion worth of goods coming from China, in exchange for discussions over the next several months,” Locke told CNBC’s “Squawk Box” on Friday.