G-20 update: Donald Trump predicts very big trade deals with India, Japan

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Published: June 28, 2019 8:55:39 AM

Key things to watch include any signs of a breakthrough in U.S.-China trade talks, efforts to stem rising tensions between the Trump administration and Iran, and concrete action to lower emissions and reduce plastic pollution in oceans.

G 20 summit, G 20 summit 2019, G 20 summit osaka, Donald Trump, big trade deal, India, Japan, osaka g20, osaka g20 summit, osaka summitUS President Donald Trump (Reuters)

The world’s most powerful leaders are gathering in Japan for meetings that may set the direction for the global economy and make the difference between war and peace in geopolitical hotspots. Key things to watch include any signs of a breakthrough in U.S.-China trade talks, efforts to stem rising tensions between the Trump administration and Iran, and concrete action to lower emissions and reduce plastic pollution in oceans. Major agenda items include President Donald Trump’s meeting with Russian President Vladimir Putin and German Chancellor Angela Merkel.

Trump Says ‘Very Big’ Trade Deals On the Way With Japan, India Trump said he expects to announce “very big” trade deals with both Japan and India at a meeting with Indian Prime Minister Narendra Modi.

“I think we’re going to have some very big things to announce,” he said on India. “Very big trade deal.” He noted he had met earlier with Modi and Japan’s Shinzo Abe. “We are also going to be announcing some very big trade transactions,” he said of Japan. He didn’t elaborate.

“They’re moving many plants, auto plants into the United States,” he said. “They announced some more this morning.”

Abe gave Trump a document titled “Japanese Investment Update” that listed Japanese companies with factories in the U.S. “Japan has FIVE additional investments in JUST ONE MONTH,” the document said, noting projects in Kentucky, Michigan, Alabama and two in Tennessee. The timing of the projects was not clear.

Trump asked his staff to share the document with U.S. reporters.

Modi expressed appreciation for Trump’s congratulations after he won re-election in May. “Given that we have a time limitation in this meeting we would like to discuss four issues,” Modi said through a translator, listing them as Iran, 5G communications networks, bilateral relations and defense relations.

Trump has created tensions with both countries by threatening to impose tariffs on Japanese car exports and by ending trade concessions for Indian exports to the U.S.

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Trump held a meeting with Abe and Modi. While Trump has sparred with both leaders on trade, his administration is also seeking to join with them to counter China’s rising economic and military might in the region. “We’ll be talking about trade,” Trump said as reporters were ushered out of the room. “It will be very positive.”

Ahead of the G-20, Trump complained in a tweet about India raising tariffs on American exports. He ignored that the move was retaliation for the U.S. president acting earlier this month to end trade concessions on $6.3 billion of Indian goods. New Delhi raised tariffs on Wisconsin-based Harley-Davidson Inc. motorcycles to as much as 100%, striking directly at a state the president considers crucial to his re-election next year.

President Donald Trump met with Japanese Prime Minister Shinzo Abe, their second meeting in as many months after the U.S. president in May became the first foreign leader to meet Japan’s new Emperor Naruhito. Trump said the meeting would focus on trade, an area of disagreement between the longtime allies.

Trump mentioned that he appreciates the jobs that Japanese car companies create in the U.S., a point that Abe’s administration has raised consistently as the U.S. threatens to raise auto tariffs.

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