G20 opens under assault from Donald Trump

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"It's moving very very slowly - so slowly that I think we will have to stay in this room past midnight, again", an Asian delegate who was attending the closed-door discussion told Reuters.

"Now I think it's really been stripped bare", he said, adding there was an opening for a leader like Macron or Canada's Justin Trudeau to make a splash in Argentina by standing up for liberal values.

"China will make efforts to further open its door to the outside world", Xi told the Spanish Senate.

World leaders began arriving in Argentina ahead of a G20 summit dogged by increasingly strident warnings about the impact on the world economy of threatened United States trade tariffs.

The official offered no details on the points of dispute, but global trade tensions, fuelled by President Donald Trump's launch of a trade war against China, are expected to dominate this year's gathering of the Group of 20, an unwieldy club of the world's industrialized countries. The world will be watching to see if the two leaders come away with a breakthrough to end their escalating trade war, which has seen the United States slap tariffs on $250 billion worth of Chinese goods, with Beijing responding in kind. In addition to the US and the EU, Argentina (the hosting nation), Australia, Brazil, Canada, China, Germany, France, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey and the United Kingdom will be represented at the worldwide forum.

Trump has also threatened to impose auto tariffs on Europe and Japan that officials have said could cost him his fragile remailing worldwide alliances.

Even if Trump's import tax went up to 25 percent, as the president has threatened, moving iPhone assembly to US shores could cost much more.

Trump is also scheduled to meet with Chinese President Xi Jinping with the U.S. and China locked in a trade dispute.

Argentina G20 Summit
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Mr Morrison arrives in Buenos Aires on Thursday night, local time, for two days of meetings before flying home for Parliament next week. "China trade conflict", Willis Sparks, director of global macro politics at Eurasia Group. The report sent the Dow briefly to its low of the day.

Donald Trump jets to Argentina Thursday for a weekend of G20 summitry riven by new tensions over Ukraine on top of fissures carved open by the USA president on trade and climate change. US intelligence officials have concluded that the Saudi crown prince must have at least known of the plot. Trump abruptly announced he was canceling their planned bilateral talks, citing Russia's seizure of Ukrainian vessels, shortly after he departed Washington for Buenos Aires.

The dinner with Xi is scheduled as one of the last events on Trump's itinerary there before he returns to Washington, Kudlow said.

And there will be "enormous benefits" from free trade, he said.

Deep divisions between the United States and China over worldwide trade issues stymied cooperation at the APEC, leaving the 21 member-nations failing to agree on a customary joint statement on shared goals for the first time in the group's 25-year history.

Trump said that the next round of Chinese tariffs will be on consumer electronics coming in from the country.

Where is the G20 meeting?

But Trump has done her no favours by mocking a hard-fought withdrawal agreement negotiated between London and Brussels, and May still has to win backing for the deal from the fractious British parliament.

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