G20: China & US Hit the Ground Running
China and the United States are said to be ready to hit the ground running at the start of a G20 meeting of finance ministers which is expected to focus on taxes, tech and tariffs.
The world’s leading economies met in Buenos Aires comes just a few days before US tariffs on aluminum and steel are expected to come into play for all countries except Mexico and Canada.
In addition, the main focus however is the imminent threat of a trade war between the US and its trading partners, especially the European Union and China.
Since the start of the Trump’s presidency in the US, with every G20 meeting , the drafting of the meeting’s final statement has demonstrated differences between the world’s 2 biggest economies.
Moreover, the US tariffs are essentially aimed at China whose steel producing overcapacity has restricted US producers for years however Washington’s European allies which have also come under fire from Donald Trump who has especially targeted German trade surpluses.