G20 Summit: What’s going on? How could this affect you? What happens next?
Please note this blog post was published over 12 months ago and so may not include the most up-to-date information, for example where regulation around investing has changed.
What’s going on?
World leaders are gathering this weekend in Buenos Aries, Argentina for the G20 summit. This is a leading global forum of the world’s major economies that seeks to develop global policies to address the most pressing issues. The G20 is made up of nineteen countries and the European Union.
Heads of state including Donald Trump, Theresa May, Xi Jinping, and Vladimir Putin will be in attendance.
How could this affect you?
President Trump is due to meet China’s President Xi Jinping, which could be significant in relation to current trade tensions. In the days before the summit, Trump said current tariff levels on two hundred billion dollars of Chinese imports would rise as planned.
Trade will also be the big issue on Theresa May’s agenda. With Brexit still dominating, UK headlines are likely to remain around this leading up to the Parliament vote on the draft deal which is due to take place on December 11. As we said last week, the key is to avoid media hype and remember for long term investors negative sentiment is of limited concern
What happens next?
Trump has dampened expectations of a deal with China at the summit, saying “I don’t know if I want to do it” and “I like the deal we have now.”
We can’t know for sure what significant developments may come out of the G20, but if we look back to June G7 you will recall that Trump lashed out at America’s allies, saying “we cannot let our friends, or enemies, take advantage of us on trade anymore.”
You can follow any significant developments on the True Potential Investor blog and YouTube channel.
