G20 Summit: All you need to know

PM Modi at Yoga for Peace event in Buenos Aires Argentina

The Turnbull government secured an exemption from the Trump administration's tariffs on steel and aluminium, setting Australia apart from other nations at the G20 that have unresolved trade disputes with the US.

The U.S. president has imposed duties on $250 billion in Chinese imports in recent months. But he warned that "if things don't work out in this US-China summitmeeting, he will invoke another $267 some odd billion dollars in tariffs".

Remember that the president's saber rattling against China has included a threat to impose tariffs on all US$500 billion worth of goods the USA imports from China, and "all" would seem to include cellphones and computers, which are the top two categories of USA imports from China based on value of goods.

Fast-forward three years and he's hosting this summit in a new political era - one where protectionism and populism, not globalisation, are the order of the day.

Trump said he was waiting for a "full report" from his national security advisers later Tuesday about the alleged attack, claiming the information would be "very determinative". -China trade skirmish only hurts Apple on the margins, it's still worth paying attention. China has responded with its own tariffs. But those efforts are often undermined by other Trump-ordered moves that are straight out of the "America first" playbook, experts and Democratic members say.

"Imposing a new round of tariffs would cause a shock that will reverberate across America and the globe".

Modi said that through the 10 years of its existence, the G-20 has strived to promote stable and sustainable global growth.

"It is deeply disappointing the president wants to undermine his opportunity to create meaningful progress before the discussions even begin", he wrote.

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Russian Foreign Minister Sergei Lavrov responded by accusing his counterpart of having a "sick imagination". One more of the systems would be joining three others already deployed in Crimea, they said.

In a pre-G20 report, the International Monetary Fund said the auto tariffs could cut three-fourths of a percent off the global economy. The pickup tariff, which also applies to work vans, has remained and has been a major contributor to USA -automaker dominance in the domestic pickup market. Such taxes could not only hurt consumers but also stifle niche areas like car-collecting and restoring classic cars.

"An agreement that simply results in the purchase of more USA products from China, or promises vague commitments with unclear timelines, will only serve to kick the can down the road, and would further harm the state of the relationship for years to come", he commented. And in the renegotiated North American Free Trade Agreement, now called the U.S. -Mexico-Canada Agreement, countries drew up what's called a side-letter on autos to address the issue separately.

A Reuters poll yesterday showed China's factories likely struggled to grow for a second straight month in November as cooling demand at home and the threat of higher U.S. tariffs stifled new orders.

The plant closings and layoffs announced by General Motors this week are putting another spotlight on the issue of tariffs.

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.

"It's been such a bad one-way street with China", Trump told the Wall Street Journal in an interview Monday.

Thomas Wright, a senior fellow at the Brookings Institution in Washington, said "there's a deep division in this G20 now between democracies and authoritarians".

"I really don't know but I will tell you that I think China wants to make a deal".

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