G20 Members Struggle for Common Ground Ahead of Argentina Summit

By Radwan Chowdhury, Chief of News

Washington, D.C. | November 30, 2018

Delegates from the world’s leading economies are locked in difficult, late-night negotiations in Buenos Aires as the annual G20 summit opens under intense international pressure. With world leaders arriving in the Argentine capital, diplomats are struggling to find consensus on fundamental issues, including international trade, climate change, and migration policy.

"This is by no means a good year for multilateralism," a German government official noted ahead of the summit's final joint declaration. Negotiations over the wording of the official communique remain exceptionally strained, driven largely by growing trade friction between the United States and China, as well as sharp policy divergences on global climate agreements.

The 2018 gathering comes at a critical moment for global financial stability, marking one of the highest-stakes G20 meetings since leaders first gathered in 2008 to address the global financial crisis. Financial markets are watching the summit closely, with particular focus on bilateral talks between U.S. President Donald Trump and Chinese President Xi Jinping.

Economic Stakes & Key Disputes

OECD Secretary-General Angel Gurría warned that ongoing trade disputes risk significantly dampening global economic growth. While existing U.S. tariffs of 10% on Chinese goods are projected to shave 0.2% off global GDP by 2020, retaliatory measures and rate hikes to 25% could push those losses much higher.

High-Stakes Side Meetings

While Argentina has attempted to center the summit around consensus-building, global attention has increasingly shifted away from collective sessions toward critical bilateral meetings:

• U.S.–China Trade Talks: President Trump expressed openness to a deal while maintaining a firm negotiating stance. U.S. Trade Representative Peter Navarro is expected to attend the high-level dinner meeting alongside President Xi, while Beijing signaled it is seeking positive outcomes to resolve the ongoing dispute.
• Canceled U.S.–Russia Bilateral: President Trump abruptly canceled a scheduled formal meeting with Russian President Vladimir Putin via Twitter, citing Russia's recent naval confrontation with Ukraine and the ongoing detention of Ukrainian vessels and sailors. Russian officials indicated they still hope for informal discussions regarding the Intermediate-Range Nuclear Forces (INF) Treaty.
• Scrutiny Around Saudi Leadership: Crown Prince Mohammed bin Salman’s arrival in Buenos Aires has drawn significant scrutiny following the October killing of journalist Jamal Khashoggi at the Saudi consulate in Istanbul. Argentine President Mauricio Macri acknowledged that legal complaints filed against the Crown Prince could be reviewed during the summit proceedings.

Capital Lockdown in Buenos Aires

To ensure security for attending heads of state, Argentine authorities have effectively closed off central Buenos Aires. The government declared Friday a national holiday and advised residents to avoid the city center, while law enforcement units have fortified security perimeters ahead of scheduled public demonstrations.

Diplomats expect negotiations on the final declaration to continue around the clock as teams attempt to bridge deep divisions before the summit concludes on Saturday.