A lot of things did happen at the recently concluded G20 summit (as we predicted by the way) Here are the highlights.
Trump and Xi charted a new path
We all know what’s been happening with China, Huawei, Entity Lists and so forth, if you’re not so sure read a recap here. Well, at the G20 summit, both leaders agreed to reconsider the trade war and opened new lines of communication in what would be the beginning of a definitive solution to the trade war hopefully.
Also, the duo suspended new tariffs a retraction from the initial threat to add a 25% levy on $300 billion worth of Chinese Goods also, President Trump also reversed the ban of sales of American Equipments to Huawei – somewhat reversing the Entity list ban.
The reconciliation didn’t stop Chinese President Xi from accusing rich Countries of engaging in protectionism that in his opinion destroys the ‘Global Trade Order’
Donald Trump touched down in North Korea after his visit to South Korea
Initially, President Trump had planned to just say Hello and shake hands at the Demilitarized Zone, but surprisingly after a brief handshake and a very bright smile from the North Korean Leader, he invited President Trump to step over the DMZ into North Korea and the South Korean Leader, Moon Jae In in a three way gathering.
The Paris Climate Change Agreement
French President, Emmanuel Macron raised the issue of the Paris Climate Change agreement, which according to Macron was a huge risk with about 19 states supporting the agreement. He further disclosed that World Leaders were major key players in the direction of what is to come.
He was able to convince the G20 to agree with him on the Paris Agreement to reduce greenhouse emissions with the Exception of the United States, who duly represented in a communique claims to be a world leader in reducing emissions.
Oil Prospects
And finally, Saudi Arabia and Russia, the 2 largest crude oil exporters have decided to extend their production agreements for an extra six months.
