Posted on 06/05/2018 9:14:18 PM PDT by Beave Meister
China offered to purchase nearly $70 billion of U.S. farm, manufacturing and energy products if the Trump administration abandons threatened tariffs, according to people briefed on the latest negotiations with American trade officials.
In weekend talks in Beijing, Chinese negotiators led by Liu He, President Xi Jinping’s economic envoy, presented a U.S. team headed by Commerce Secretary Wilbur Ross a package that includes Chinese companies buying more U.S. soybeans, corn, natural gas, crude oil, coal and manufactured goods.
Chinese and U.S. officials estimated the value of the package at nearly $70 billion in the first year.
President Donald Trump has pressed China to commit to reduce the $375 billion U.S. merchandise trade deficit with China by $200 billion. Chinese officials are arguing this could go a long way toward meeting that target.
Throughout the negotiations, Mr. Liu made clear to Mr. Ross that the offer would be void if Washington proceeds with its plan to impose tariffs on $50 billion of China-made products, the people briefed on the talks said.
(Excerpt) Read more at wsj.com ...
Pfft!
This sounds like a one-time deal that doesn’t amount to 1/5 of the annual trade deficit.
We need to put the tariffs in. Rebuild American industries and use the tariffs to cut taxes further and to reduce the budget deficit.
i say hold out for $7,000,000,050 dollars-
[soybeans, corn, natural gas, crude oil, coal]
Too little. Too late.
I think we will take the Tariff $ and work on competing in the free market. The optimal word being FREE. That means that they open their markets WIDE OPEN, or we close ours completely to them.
They can go back to riding bicycles and starving their children.
Here’s the thing....they are overflowing with cash. You can look at the construction boom, the projects going on in Africa which are sponsored by the Chinese government, and the continual trend of Chinese millionaires moving cash out of reach of the government.
I think they are worried because this is a hyped up....turbo-blasting job machine in China, and the Trump tariff business would destroy the aggressive nature of their economy. They can’t afford to have a stalled situation or 15-percent unemployment.
But the question is....what exactly would they buy in products for $70 billion? Trump could go and arrange for a massive business boom for several companies in red states.
We can sell them our used plastic and they can burn it for fuel.
China has 6% of the arable land the US has. They have no oil. They have no natural gas. They have nothing. We should have a 500bln$ surplus with them. Machines have been able to make shitty clothes for 80 years.
Our leaders have been assholes.
Democrats will probably demand they buy 100 million copys of Hillary’s next book.
“Here’s the thing....they are overflowing with cash.”
Sorry, that is old and no longer valid information. China is now a debtor nation, and they have had to sell a good bit of their US Treasuries. Their GDPis half of what it had been and decreasing. They have overspent on their military and done ridiculous things like the “ghost cities”.
I saw this article about a half hour ago, but didn’t want to post it. But it looks like someone did.
This strikes me as a terrible Chinese proposal.
We need to reject it, bigly. The US however has a problem. Our manufacturers are completely sold out.
Trump is not. But for over one entire generation, EVERYONE has been selling out to China.
Now it is time to bring manufacturing back to America.
But there is a huge section of former American producers, who are all in bed with China now.
It will not be simple.
But it is very, very important to bring back American production.
Now.
The oligarchs are raping the country. That is not the same as overflowing with cash.
Xi is the worst thing that ever happened to them and the best thing that ever happened for us.
Xi is an old school authoritarian moron what thinks he’s gonna bring China back to the Mao days.
One Belt One Road is the most laughable manifesto I have ever seen. This idiot says China sucks and we’re gonna bully you into giving us all your natural resources, so get on board comrade!
Their national debt is 400% of GDP.
You do realize the national balance of trade between China and America, is at an all-time pro-China record high of $375,000,000,000 just last year, and it is CLIMBING again this year.
Right?
Let them finance a large percentage of the infrastructure that’s needed in towns from coast to coast. Buildings, roads, sewer systems, bridges, harbors. All the things we tend to take for granted until they begin to fall apart.
Let the Governors decide how to spend this China Money.
There must be rules so that this money cannot be diverted into political causes or personal campaigns. When that happens (misappropriation of public funds), there should be clear, swift and severe punishment, something America is not always very good at these days. Sometimes ya gotta call a Spade a Spade!
An understatement of Biblical proportions.
This sounds like a good step forward
Why?
China ALREADY buys American farm and energy products.
What they need to do, is to seriously readjust their buying, of manufactured goods, from America.
Big time. That is what Trump is saying.
$200,000,000,000 worth.
Might just go up to $300,000,000,000, if they don’t stop these silly games, and start to BUY AMERICAN GOODS.
It’s already better than any other deal we have had with China and Trump will probably want more.
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