Posted on 10/11/2019 3:56:42 PM PDT by Aquamarine
President Donald Trump on Friday hailed a breakthrough in his drawn-out trade war with China, saying the two sides reached an initial deal that included a surge in purchase of American farm products.
With the agreement -- which also covers intellectual property, financial services and currencies -- the White House will hold off on a massive tariff increase planned for next week, and as negotiations progress new tariffs planned for December also could be called off, US officials said.
The interim bargain could allow both economic powers to claim success, while averting damaging escalation in the trade war and leaving the thorniest issues for later.
Trump hailed China's pledged to rapidly ramp up purchases of American farm products, to a stunning figure of $40-50 billion. That would be a stunning feat, more than doubling from the prior level of less than $20 billion in 2017.
Total US agriculture exports were $140 billion in 2018, so that increase would mean a third would go to China.
"So I suggest the farmers go immediately buy more land and get bigger tractors," Trump told reporters at the White House.
"There was a lot of friction with China. Now it's a love fest," he said at the end of his meeting with Beijing's lead trade envoy, Vice Premier Liu He.
(Excerpt) Read more at ibtimes.com ...
China routinely lies and ignores commitments. This partial deal was brilliant Chinese gambit to wait and see if Biden or some other democrat wins in 2020.
Finally the promise to buy US agricultural products is dwarfed by the size trade deficits. And it does nothing to fix the MAIN PROBLEM of loss of manufacturing jobs which are middle class jobs.
*****************************************
IMHO, you are spot on. Its the Chinese modus operandi. Theyll also cheat like hell while theyre at it.
This was a Loss!!! The worst part is Trump is proving he is just a run of the mill Republican. Kowtowing to big ag, subsidized tractor monkeys and worst of all the Chinese. The big loser is American industry and the forgotten American blue collar worker.
....
If your sorry ass can do better, run for POTUS and do what Trump has done in less than 3 years!
You ungrateful prick!
What stocks do I buy?
If Trump thinks China is ever going to honor intellectual property rights, then he’s going to get taken to the cleaners. The only real solution is decoupling our economy from China.
Maybe President Trump can switch to a law-based battle with China.
“Lock ‘em up!”
Enforce exchange audit rules.
We’ll see.
Frankly Im inclined to bet that we have the right guy at the right time doing the negotiating.
I think Trump knows what he’s doing! I love all know-it-alls talking sh*t behind their keyboards!
If you can do better, run for POTUS and show us how it’s done!
It wouldn’t be FR without at least some cringe hot-takes.
Yes, the best thing Trump has done is put on, and keep on, tariffs. China delays and cheats at it’s own expense.
Bot mentioned is Huawi- if Trump significantly backs off on enforcement against them this interim deal is a loss.
How was this a loss?
Run of the mill Republican? Whatever!
Why dont you go to Democrat Underground and bash the President there?
We get pigs and soybeans and China continues towards dominating the 21st century. The USA is going the other way, to the 18th century agrarian model. Maybe plantations will come back in vogue?
Either way, we will actively avoid all chicom products when and where possible and loudly let people know why we wont buy them.
Screw the chicoms to hell. Let them burn.
Next stop $10.00/pound bacon.
Yes, we should buy American made products it’s the best way to support freedom.
You need to vote Hillary or Warren you whiney ingrate.
It's hard to imagine two more ironically contradictory sentences than those two.
Countdown until China breaks the deal.
Well...3 points.
This “partial” deal is helpful for Trump to get re-elected which is what I want. And this is the first time any president put the squeeze on China through tariffs.
So that is positive side.
2nd point, Chinese will cheat and obfuscate as is their habit. Why believe any regime which allows open stealing of intellectual property of other countries? Once a thief, always a thief. So I am not getting my hopes up that the Chicoms will honor this deal. We will know all the results before election. And PDJT will have a chance to push harder in time before November 2020. That will be also positive.
3rd point, what in this partial deal, covers loss of American Manufacturing jobs? Does anybody know?
Don’t worry, I’m sure they will roll out Maggot Bacon or Impossible Bacon for us to eat.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.