Tag - APEC

Trump dangles prospect of Mar-a-Lago visit for Xi
U.S. President Donald Trump said Monday he expects to visit China next year and that President Xi Jinping would likely travel to “maybe Washington or Palm Beach or someplace” sometime after. “We pretty much agreed that I’ll be going to China,” Trump said, talking to reporters on Air Force One, as he dangled the prospect of reciprocal summits to the Chinese leader. The comments come as U.S. and Chinese officials said they had reached a framework for a trade deal ahead of Trump’s meeting with Xi on the sidelines of the Asia-Pacific Economic Cooperation summit in South Korea this Thursday. U.S. Treasury Secretary Scott Bessent said the agreement would ensure that China does not impose export controls on rare earths and that the U.S. would not move forward with 100 percent tariffs on Chinese imports slated for Nov. 1. It would also include “a final deal” on the sale of video-sharing platform TikTok in the U.S., Bessent added. Trump said Saturday, as he boarded his flight to Malaysia, that both sides may make sacrifices to ease tensions. “Sure, they’ll have to make concessions,” Trump said. “I guess we will, too.” He warned that “157 percent tariffs” on Chinese goods were “not sustainable for them,” while reiterating his willingness to “press ahead” with measures if talks falter. “I have a lot of respect for President Xi,” Trump said Monday. “He likes me a lot, I believe, and respects me. And I think he respects our country a lot. We’re going to have a successful transaction for both countries.” Trump visited Beijing as U.S. president in November 2017. Xi had visited the U.S. in April of that same year, when the two leaders met at Trump’s Mar-a-Lago resort in Florida. At the time, a White House spokesperson said the Chinese delegation had requested Mar-a-Lago as the venue for the meeting. During dinner — where Trump served the Chinese leader one of his favorite meals, dry-aged steak and whipped potatoes — he joked to reporters, “We had a long discussion already and so far I have gotten nothing, absolutely nothing.” But he added the two leaders had “developed a friendship.”
Cooperation
Tariffs
Trade
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Trump ends trade talks with Canada over ‘fake’ Reagan ad
OTTAWA — President Donald Trump abruptly halted “all trade negotiations” with Canada late Thursday night over an ad that enlisted the voice of Ronald Reagan to oppose U.S. tariffs. Ontario Premier Doug Ford predicted earlier this week that the president would not be “too happy” with the 60-second spot his province produced to warn Americans that Trump’s tariffs could ultimately kill their jobs. “The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald Reagan speaking negatively about Tariffs,” Trump posted on Truth Social. “They only did this to interfere with the decision of the U.S. Supreme Court, and other courts. TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND ECONOMY, OF THE U.S.A. Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED.” Earlier in the evening, The Ronald Reagan Presidential Foundation hit back at the ad, saying it “misrepresents” Reagan’s presidential radio address on April 25, 1987, which was focused on free and fair trade. The foundation said the Government of Ontario “did not seek nor receive permission to use and edit the remarks” and that it is reviewing its legal options. “We encourage you to watch President Reagan’s unedited video on our YouTube channel.” The offices of Prime Minister Mark Carney and Canada-U.S. Trade Minister Dominic LeBlanc said they would not be commenting on Thursday, but they would likely have more to say on Friday. “The commercial uses an unedited excerpt from one of President Reagan’s public addresses, which is available through public domain,” a spokesperson for Ford said in an email to CBC News. The White House did not immediately respond to a request for comment. “The quote of former President Ronald Reagan was recognizing that ultimately somebody pays the tariff — and it’s the consumer,” Carney said when asked about it during an interview last week with Toronto’s RED-FM. “The company passes it on, the price goes up eventually, and you pay the cost of the tariff.” Trump has imposed double-digit tariffs on Canada’s steel, aluminum, auto, lumber and copper sectors. The president has said he is open to renegotiating the United States–Mexico–Canada Free Trade Agreement, but has also left open the possibility of abandoning the framework altogether. Carney, a former central bank governor in Canada and Britain, continued: “As an economist, I say that if somebody is trading fairly, it’s better not to have tariffs between those countries.” The prime minister noted that Trump’s White House is committed to tariffs. “I don’t agree with their policy, but I recognize that is their policy, and I don’t expect it to change.”LeBlanc and Commerce Secretary Howard Lutnick had a meeting scheduled for this week, an official familiar with the trade negotiations told POLITICO. They were granted anonymity because they weren’t authorized to discuss the matter. It’s unclear if the two had met, or if the Liberal government received a heads-up. Carney was previously blindsided by the president in June when Trump halted trade negotiations over Canada’s then-Digital Services Tax. Negotiations resumed days later when Carney’s government agreed to rescind the tax, which would have cost U.S. tech companies like Amazon and Google billions of dollars. Carney said earlier in the day Thursday that he speaks “frequently” with Trump, but couldn’t reach him to bet on the World Series, which kicks off Friday with the Toronto Blue Jays up against the Los Angeles Dodgers. “I think he’s afraid to make a bet,” Carney said, smiling while attending a Jays practice in Toronto. “He hasn’t returned my call yet on the bet. I’m ready. We’re ready to make a bet with the U.S.”White House press secretary Karoline Leavitt told reporters Thursday that Trump isn’t a big gambler. The Ontario ad has aired in major markets, including D.C., and during the Toronto Blue Jays’ games. “We’re going to repeat that message to every Republican district there is right across the entire country,” Ford said last week before the ad launched. Reagan’s address warned of the long-term economic perils of tariffs on foreign imports sold to Americans as a protectionist policy and explained they were imposed to sort a particular problem — not to begin a trade war. “But over the long run, such trade barriers hurt every American, worker and consumer,” Reagan narrates in the ad. “High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars. Then the worst happens. Markets shrink and collapse, businesses and industries shut down and millions of people lose their jobs.” China’s embassy in Washington notably used the same Reagan clip to troll Trump’s global tariffs when the China-U.S. trade war heated up in the spring. “I do believe that everybody’s too smart for that,” Trump said Tuesday after catching the anti-tariffs spot. Carney and Trump will both be in Malaysia and South Korea to attend ASEAN and APEC, with Carney scheduled to leave for Asia Friday morning.
Security
Negotiations
Policy
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Tariffs
Trump to meet with Xi Thursday
President Donald Trump will meet with Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation Summit in South Korea on Oct. 30, White House press secretary Karoline Leavitt said Thursday. The president will participate in a bilateral meeting with the Chinese leader at the end of a trip through three countries in Asia. She did not provide any details on the content of the meeting. While Trump said weeks ago that he would meet with Xi at the APEC summit, no date had been announced. The meeting would be Thursday morning local time in Busan, South Korea. On Wednesday, Trump predicted that the two leaders would come to agreements on everything from trade to nuclear power. He also plans to address China’s purchase of Russian oil. Trade tensions between the two nations have flared in recent weeks after Trump announced 100 percent tariffs on Chinese exports, which are set to take effect two days after the leaders meet. Trump’s pledge came after China announced newly imposed export-controls on rare earth metals and related technology in electronics and military goods. The new U.S. tariffs would be “over and above any Tariff” that China is already paying, Trump wrote in a social media post earlier this month. Trump added Wednesday that his priority is to end Russia’s war in Ukraine. Xi “would now like to see that war end,” the president said. It will be the first in-person meeting between the leaders since 2019, when the two met in Japan at the G20 summit. Leavitt added that Trump will also participate in bilateral meetings with the leaders of Malaysia, Japan and South Korea during the trip.
Cooperation
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Trade
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