Time for a recap.
World leaders have gathered in Osaka, Japan, ahead of a likely storm G20 meeting dominated by trade disputes.
Donald Trump, Xi Jinping, Shinzo Abe, Theresa May, Justin Trudeau, Recep Tayyip Erdoğan, Giuseppe Conte and Pedro Sánchez, and more, have braved the wet and windy airfield at Osaka, for a crunch summit.
Trump set the tone for the G20, via Twitter, by demanding that India withdraw new tariffs on US goods — even though they were imposed in response to his own tariffs on India.
Trump has also warned he could impose tariffs on all Chinese imports – an extra $325bn or so – if he isn’t satisfied with Beijing’s actions on trade. His economic advisor, Larry Kudlow, has echoed that claim today.
He’s also cast doubt on America’s commitment to defending Japan — causing another pillar in the world order to wobble slightly….
Financial markets will be watching the G20 meeting closely, hoping for progress in the trade disputes that have slowed global growth in recent months.
China has reportedly drawn up a list of conditions to present the US, when Trump and Xi dine on Saturday night. They include ending the blacklisting of Huawei.
Trump is also due to meet Vladimir Putin and Recep Tayyip Erdoğan during a busy schedule. The meeting with Erdoğan is likely to be particularly fiery, given US concerns that Turkey is buying an anti-aircraft system from Russia.
The climate emergency will also be on the agenda. May has told us that she’ll be raising the issue with other world leaders, having recognised the impact of climate change.
The G20 begins Friday morning Osaka time, or around midnight in the UK / early evening on the East Coast, so stay tuned to our website for more news. GW