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Trade war, Iran tensions to dominate G20 summit

OSAKA: World leaders started arriving on Thursday for the G20 summit in the Japanese city of Osaka, where there are hopes the US and China may be able to find a truce in their trade war and as worsening tensions between the US and Iran are likely to be in focus.

US President Donald Trump and Chinese President Xi Jinping were both among the early arrivals for the two-day summit, which formally opens on Friday. They are due to meet on Saturday.

Trump has threatened to impose new tariffs on $325 billion worth of Chinese goods if the talks with Xi at the gathering fail, though he has left open a window, indicating he may not make the move right away.

The US has already imposed 25 per cent tariffs on some $250 billion worth of Chinese goods and blacklisted telecoms giant Huawei.

Trump told the Fox Business Network ahead of his trip to the G20 that the Chinese goods were “ripe for taxing.” He said he may start at 10 per cent, as he did with earlier tariff hikes.

Trump also used the Fox interview to bash Japan, the host of the summit, saying that while the US is obliged under a treaty to defend the country, Tokyo is not required to do the same.

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