Argentina will not take side between China, US, says president

Argentine President Mauricio Macri speaks at a press conference on the sidelines of the G20 summit in Argentina on December 1. Photo:

Argentina values the importance of China and the United States to its economy and will not take side amid an escalating trade conflict between the world's two largest economies, said the country's President Mauricio Macri on December 1.

At a press conference held after he met US President Donald Trump on the sidelines of the G20 summit, Macri said that China is not a challenge but an opportunity for Argentina while hailing the United States as an important partner, which is Argentina's biggest foreign investor and largest source of tourists.

With regard to US doubts about the implications of Chinese investment in South American countries, Macri said that China has made progress in enhancing the transparency of its infrastructure projects in South America, adding that all parties should be open to fair trade.

Chinese President Xi Jinping will start a state visit to Argentina on December 2.

Xi and Trump on December 1 held a dinner meeting, where the two leaders agreed to stop imposing additional tariffs from January. But according to a statement released by the White House, the United States has set a 90-day time limit for reaching an agreement which will produce "structural changes" on forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, otherwise, Washington will raise the current 10 percent tariffs to 25 percent.

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