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Trump Agrees Not To Raise Tariff Levels on Chinese Goods; China Agrees To US Purchases. Two Sides To Start Broader Negotiations. (wsj.com)
U.S. President Donald Trump and Chinese President Xi Jinping agreed Saturday to keep their trade war from escalating with a promise to temporarily halt the imposition of new tariffs [the link may be paywalled; alternative source], as the world's two largest economies negotiate a lasting agreement. China also agreed to further market opening, its foreign minister said. In a statement, White House said the U.S. had agreed not to increase tariffs on Chinese goods to 25% on Jan. 1. From a report: The truce between the U.S. and China emerged after a highly anticipated dinner Saturday between Trump and Xi on the sidelines of the Group of 20 summit in Argentina. The leaders agreed to stop the introduction of new tariffs and intensify their trade talks, Chinese Foreign Minister Wang Yi told reporters hours later in Buenos Aires. The White House called the meeting "highly successful," saying the U.S. will leave existing tariffs on $200 billion of Chinese goods at 10 percent and refrain from raising that rate to 25 percent as planned on Jan. 1. In exchange, the U.S. wants an immediate start to talks on Trump's biggest complaints about Chinese trade practices: intellectual property theft, non-tariff barriers and cyber theft. After 90 days, if there's no progress on structural reform, the U.S. will raise those tariffs to 25 percent, White House Press Secretary Sarah Huckabee Sanders said in a statement. China also agreed to boost its purchases of agricultural and industrial goods to reduce its trade imbalance with the U.S., she said.
So much winning, you're going to be TIRED of winning!
He didn't cave. Current tariffs remain in place. Only the increase to 25% in January has been suspended pending further negotiations on IP theft and non-tariff barriers to trade. Overall, this is a pretty good outcome, and hopefully remaining issues can be resolved, and the existing tariffs can be lifted as well.
TFA is paywalled. Here is an alternative article.
well if nothing happens in 90 days he can raise tariffs ...nothing lost...
Of course he DID cave by limiting his hand, and of course he could not really possibly have already removed the tariffs by now anyway so using that as evidence he didn't cave is typical Shanghai dishonesty again.
No he did not.
If I were the Chinese, I would stall the process as long as possible. Trump may not make it to the next election and even if he does he may not win. The Chinese leadership is not responsible to the people of China which means they can do things that would get a president impeached or voted out. The Chinese are playing the long game and the USA is playing the short game. I am routing for the USA but it seems to me they may have already lost. I sure hope I'm wrong.
"Call it a hole in the ground, call it a snow fort, call it The Art of the Deal (a book written by someone else) - but don't call it caving, Trump will tweet nasty things about you within seconds."
The White House called the meeting "highly successful," saying the U.S. will leave existing tariffs on $200 billion of Chinese goods at 10 percent and refrain from raising that rate to 25 percent as planned on Jan. 1. In exchange, the U.S. wants an immediate start to talks on Trump's biggest complaints about Chinese trade practices: intellectual property theft, non-tariff barriers and cyber theft. After 90 days, if there's no progress on structural reform, the U.S. will raise those tariffs to 25 percent, White House Press Secretary Sarah Huckabee Sanders said in a statement. China also agreed to boost its purchases of agricultural and industrial goods to reduce its trade imbalance with the U.S., she said.
And with this news, the Democrats will water down this achievement while fuming in their "war rooms" at the same time.
That, I can guarantee.
Because China's credit is on the line. If the don't follow through on their word and treat other nations with respect in a reciprocal manner, why would anyone wish to take them seriously??
You're misspelling "republican."
Fascism: An authoritarian and nationalistic right-wing system of government and social organization. See also: NAZI's
Reposted from below - So 90 days of caving, then another round of _____? Sounds like North Korea policy, Russia policy, Saudi Arabia policy, etc. He'll be out of office in 90 days maybe!
Where's the plan, beefbrains? Are we just completely winging it on all things and taking Trump's word for how well it works while people get laid off? FUCK YOU BILL, YOU SHOULD LOSE YOUR JOB APOLOGIST.
Not the dairy workers, not the soybean farmers or automakers, YOU apologists should be the ones HURT by Trump's IDIOCY. Incredibly, some of you are so thick in the denial, YOU ARE the ones he's hurting!
But you're not HONEST enough to ADMIT IT. THERE IS NO PLAN. He's been completely WINGING this shit on a bluff and a prayer, and now you think you're going to make it a "victory" over a 90 day cooloff?
LYING IDIOTS LOL go give some money to Nebraska, YOUR OWN, YOU BITCHES.
It has been clear for some time that China's trading relationship with the US and the rest of the western world is not a level playing field. Actively hindering US companies from operating in China, currency manipulation, gaming postal treaties and engaging in rampant IP theft is something that has been tolerated for too long.
I'm not American and I have no love for Trump but it at least he's attempting to resolve the issue. Obama did nothing and I doubt Clinton would have either.
For all intensive porpoises your a bunch of rediculous loosers
China the KNOWN currency manipulator who Trump was pretending to play hardball with because they're so dishonest and everyone knows it, THAT China is the one you've suddenly held accountable here? Lol.
With a 90 day cooling off period and no teeth? FUCKING LIE MORE OBVIOUSLY I LOVE YOUR SHIT. Say anything! It's not YOU getting laid off right? Anything goes from "They don't use Gallium in processors" Bill here.
NOBEL! NOBEL! Lol?
they got us to back down on tariffs. OTOH Trump probably couldn't have done those tariffs anyway. Not without wrecking the economy.
Meanwhile the outsourcing continues, with GM moving 14,000 jobs to Mexico (and rather cleverly blaming it on declining demand for cars vs SUVs while ignoring the new SUV & Truck factories in Mexico).
Nothing change. Everything continues apace. Well, except we borrowed another $1 trillion as a giveaway to Trump's wealthy friends in the top 1%.
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In all the "new workers" looking for jobs in America's heartland as a result of this, Trump "creates jobs" by DESTROYING THEIR OLD ONE. Nobel! Nobel!
Anyone will take them seriously because they are the big dog on the block.
Same reason people take them seriously even after a few decades of rampant IP theft. Because they have weight to throw around, and throw it around they do.
You should be strangled for lying in defense of a nazi traitor. That should be the new standard, because America apparently needs brand new standards to measure treasonous lying faggots these days.
#ROPE SALES UP THOUGH!
it's not a job creator. It's just money in the hands of whoever owns the patents.
All he did was get them to agree to talk. That's not much of an outcome. Also, there's no way in hell Trump could throw an across the board 25% tariff on Chinese goods on the books. We rely on cheap Chinese goods to make up for declining and/or stagnant wages. His base, and indeed the entire country, would notice that big time. It would torpedo his next election.
This whole thing is political theater. Full of sound and fury, signifying nothing. Meanwhile more manufacturing jobs keep getting outsourced.
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since we let them buy up our hog farms. That was just nuts, BTW. Who the hell lets a hostile foreign power buy it's food supply? Seriously, who does that?
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He was doing good with tariff increase on china, and should have brought it up to same level as china 's highest tariff on western goods. At least, should have limited to 45 or 60 days, not end of march.
I prefer the "u" in honour as it seems to be missing these days.
Hillary will be running the prison Trump gets buried under. (Not really, we have professional wardens and she's out of office - though she still rents the brains of retards like you for free apparently)
So,Trump failed. When it was obvious China was going to call his ultimatum bluff, he extended the deadline 30 days. Cause otherwise it would be obvious he failed. But China understands face-saving non-things. So they agreed to stop boycotting our agricultural products... which only existed because of Trump's policies. So, we've gained nothing.
Your ad here. Ask me how!
Seriously, time for him to rig taxes like other nations. Cut the corp tax, for in-nation items. If done outside, or selling imported goods, then tax at 25%.
I prefer the "u" in honour as it seems to be missing these days.
"Nazi pretends to speak for 'liberals' with incoherent arguments mirroring Fox News' retarded defenses of a traitor about to die in Federal Prison with his bitch beta sons, news at 11."
You don't really expect him to still be in office in 90 days do you retard lol? Ahaha. More like 9 at this rate.
I don't think they like pedos in prison either. Trump's going to have problems lusting after his daughter in public as he's wont to do.
Oh well, that's his problem now.
Ok. How many jobs did this cost?
I prefer the "u" in honour as it seems to be missing these days.
Did too.
Does that mean I can continue to get cheap shit from Banggood?
Yeah, we totally should have just sent ten times that amount to Iran. At night. In an unmarked cargo plane. That's what real presidents do.
Such a short timeframe would be useless. Not enough time to negotiate anything . Way too disruptive to businesses. Why do you hate business so much?
As an aside, why does America have such high taxes on light trucks and pickups? Should the rest of the world raise their tariffs to match US's high tariffs?
Why has your stock market not increased in 2018? Wasn't Trump pro business, tax cuts etc etc? Oh yea, shot yourselves in the foot with tariffs...
What are you on about? The previous president was telling Americans about "new normals" with a shrinking economy and jobs that would never come back.
Now, jobs are coming back, employment rates are at record levels - and you find room to complain now?
Chinese blinked. Trump got exactly what he wanted out of the tariff war. Trumps bellicose statements forced both Canada and Mexico to update the NAFTA trade pact. He didn't get everything he wanted but the US did get a better deal. One of the least talked about pieces of the agreement was requiring any Mexican worker involved in the manufacture automotive related products exported to the US have to earn a minimum of $15 per hour. The is not only good for the Mexican workers but it also removes the number one reason US manufacturers move operations to Mexico which is labor costs.
Actually you sound like youâ(TM)re whining
Peanuts are still better than bugger all. Trump fights the world when he goes against globalism, any tiny step he makes in the process compares favourably against the steps of every administration before him for the last 5 odd decades.
He killed the TPP, he's in the process of massively increasing the requirements for H-1B's, he's trying to renegotiate NAFTA with ISDS removed for most industries.
Do you think any other presidential candidate would have done or will do anything close to that? He's not very competent, but if you actually want to see pro-labour policies in the US you can only vote for a 2nd term of Trump. Any other vote is a vote for a globalist race to the bottom.
When was the last time they manipulated the currency? Short sellers of "euro" yuans have been causing a steep drop in currency, while China generally has been trying to prop it up, otherwise it would have easily dropped below 7 to 1. If you mean propping it up is currency manipulation then you're an idiot. Moreover, the US currency manipulates as well when it prints out trillions of new dollars and issues trillions of dollars worth of bonds.
So far, it's just discussion.
The common theme of President Trump throughout his presidency is this: he's a chaotic leader. You cannot question that he is an effective leader -- just look at the success he has at his rallies. I'm not saying you have to like the guy or his methods, but you have to at least acknowledge that he is successful at inspiring people to follow him. And he does it by being chaotic.
And his approach to China is no different. Just as he tells reporters about meeting Russia at the G20 summit ("Maybe I will, maybe I won't."), or about Crown Prince Mohammed bin Salman's involvement in Khashoggi's death ("Maybe he knew, maybe he didn't."), Trump is consistently ambiguous and aloof regarding his position with practically anything. What he says to China today can still change tomorrow. There are no guarantees, only promises. And China is as good at keeping their promises as Trump is.
So, while that chaos does give us leverage against China (what little we have), I predict it's still going to get us nowhere in the end. While Trump may momentarily have the upper hand, he has a grievous fault that will work against it: he's narcissistic. It's impossible for him to negotiate for what's good for the United States. He negotiates for himself, aiming for outcomes that give him clout (i.e. USMCA, but don't you dare call it "New NAFTA") and economic gain (i.e. tax cuts). He doesn't give a damn about the soybean farmers and every other working class American suffering while this deal is getting negotiated and worked out. Nor will he care about who benefits or doesn't in the end, so long as he gets his.
Well he caved in the sense that he stated that winning the trade war was easy. Moreover, China is probably going to just delay until 2020.
A lot more were lost than it saved. World growth was slowed, and the US markets lost all it's gains for a year.
Oh and your trade deficit got worse, along with your budget. Brilliant job Mr President.
COAL JOBS are coming back? Nope. GM just shed a ton! Manufacturing IS NOT coming back, despite Trump's bullshit (debunked) promises of steel plants. HE LIED ABOUT BMW AND MEXICO AND ALL OF IT.
His ridiculous internal-politik pissing match with China that he just threw the towel in on? The bailouts for farmers he affected with that? WHERE DID THAT MONEY COME FROM? SOCIALISM? FUCK YOU.
The ONLY thing he did successfully of ANY sort was the recent redraw of NAFTA, which was stalled way too long as a result OF REPUBLICAN OBSTRUCTION, not like Obama didn't address it.
You pathetic craven faggots don't even live here why do you pretend to half-remember the last 8 years, and why would anyone trust you to be a source for retelling them?
You're FAGGOT LYING TRAITORS backing a FRAUD. Mueller will see you now.
paywalled?
By us or Mexico?
90 days of nothing IS BUGGER ALL you pedo moron! A promise from Xi is even LESS enforceable than a promise from Trump himself, and we all know how WORTHLESS those are. Those of us who can read anyhow.
"Do you think they packed up the hog farms and moved them to China?" - Bill tries rhetoric in defense of a clueless lying traitor, again. Maybe it'll work? Maybe China will just give in at 90 days. Pray with us, Bill.
Pray to your God Money and sacrifice the truth for Trump's pleasure. What are a few hundred thousand American jobs if you can just bail them out with taxpayer money, no problemo right?
For a Republican liar and a Republican Congress, maybe.
You're thinking about "Obama".
LOL You mean gig jobs? You mean service jobs cleaning bed pans? Those are the sectors where there has been job growth. Pretty much every other sector has experienced no growth or has been shedding jobs. BTW. unemployment numbers were roughly the same under Obama in 2016 and now.
They are born liars.
I know you are, but what am I?
I'd give you a hug, but you probably have the clap.
Thatâ(TM)s not how that works at all.
You swallowed that whole didn't you?
It's about time the US started to pay up. You print so much money and then buy as much as you can from other countries. If you could get your consumption under control, maybe if you had to use worked for money instead of being the reserve currency, you would cut back a little.
China isn't forcing you to buy all that cheap junk, you are demanding it and they are supplying it. It's 2 sides of the same coin. Live within your means and watch as the idle factories lay off Chinese workers.
you are more likely to win the publishers clearing house giveaway which has nearly a 1 in 1.7 billion odds then Trumper ever seeing 1 day in jail. So for gods sake give up your sanctimonious slashdot crusade which only makes you look dumber than our POTUS and that my friend is a pretty high bar to beat.
they got us to back down on tariffs.M
You really don't understand what is going on, do you?
There were never going to be tariffs that high. Trump laid them out as a gamut knowing China had a weaker position then the U,S. if those tariffs were actually implemented. So just as Trump knew would happen, China backed down and is now roughly doing what we want.
This the part of the world Trump knows cold, he knows how to work positive and negative sides of a deal to make the other party do what he wants. That has been clear long before he was president, if anyone had been paying attention this news comes and no surprise at all.
"There is more worth loving than we have strength to love." - Brian Jay Stanley
You don't know then from than. I'll take my own odds thanks. Trump will rot in prison, Jr. will get at least 15.
READ WHAT THIS AMAZING LIAR SAYS BELOW! https://news.slashdot.org/comments.pl?sid=12989868&cid=57734842
THEY lose their jobs, THEIR industry is bailed out with taxpayer funds, BILL the LIAR pretends "nothing happened, probably"! YOU CAN'T MAKE THIS SHIT UP LOL, BUT HE CAN APPARENTLY.
It is more likely worth more than that of American's.
- The US recently pulled out from climate change treaty it signed
- The US recently pulled out from the Iran nuclear it signed, without any concrete evidence that Iran violated the deal
- The US pulled out from the mid-range missile treaty it has signed with Russia
- The US failed to pay its UN member dues for years
Need more examples?
A promise is of comfort to a fool.
So how come a Republican Presidents chaos doesn't kill the confidence fairy? Is the market pricing in all this chaos?
That all these tariffs are.
You're an Idiot-Idiot and Liar-Liar. You want to pretend the bailouts and job losses so far aren't pure losses, they didn't really happen? GO FUCK YOURSELF LYING FAGGOT BILL. Your shit is flapping in the breeze.
"Obama" actually had a "lower" "trade imbalance" with "China" than "Trump" who is "right now" headed to Federal "prison" for "life" because he's a "fucking traitor" and "can't stop lying" - FTFY.
"Faggot."
Earlier this year and basically ongoing, DERP? https://www.forbes.com/sites/charleswallace1/2018/07/21/chinas-currency-manipulation-is-a-response-to-trumps-tariffs/ -first site off the top of the pile.
You obviously don't pay attention to this basic shit and are lost in your own asshole.
"Enter the renminbi. China has allowed the currency to decline 7.6 percent against the dollar in just the last four months. That’s a huge drop, and almost negates Trump’s threatened 10 percent import tariffs on some Chinese products.
Indeed, Treasury Secretary Steven Mnunchin, usually quite dovish on China trade, said he was now concerned about the renminbi. “There’s no question that the weakening of the currency creates an unfair advantage for them,”
BUT YOU'RE SIDESTEPPING THE POINT ANYWAY YOU GASLIT MONKEY.
Yea why not, more trade disruptions can only be good for US business right?
Just send them all overseas and be done with it. Keep printing money and importing everything until the rest of the world finally notices you are broke.
You might get a few more years and then can blame the next Democrat when it all falls apart.
Xi is
* a dictator for life
* sends millions of Chinese to "re-education camps"
* no freedom of speech
* no freedom of travel
* smartphones **Must** have govt tracking software
* Your social network posts are tracked by the govt and rated. A poor rating can block rights and travel.
* don't recognize international waters as ruled by world-wide govts
* Currency manipulation
* intellectual property stealer / Hacker of companies and govts world-wide
* Tibet takeover
* Tienanmen Square; they admit to killing over 1,022 civilians. Other estimates are over 10,000 deaths.
* Check your server logs, most attacks are probably from Chinese IP ranges.
* Their elections are fixed - only approved party members can be on the ballot. So, would you like Bernie or Clinton or Gore or Dukakis? Like any of those are even a different choice from the others. Well, freakin' terrible vs really, really, bad is a choice, I suppose.
* Police in China behave like thugs.
* Taiwan, cough.
Don't forget what China is and how they behave.
- The US did not sign the Paris Climate treaty.
- The US did not sign any Iran nuclear deal.
- The US used the agreed upon measures to withdraw from a MRBM treaty that Russia was not compliant with, and China refused to sign.
- There is no such thing as "UN membership dues". The US pays about $3.3 BILLION dollars to the UN every year. Trump has proposed cutting the US contribution to the UN to $2.1 billion in 2019, but it hasn't happened yet. The UN could, of course, stop spending (embezzling) so much... but then, there would be no reason for most countries to participate.
The first two treaties were not treaties; they were never ratified. They were a handshake by President Obama and carried no weight. The 3rd, well, even the UN couldn't back Russia's desire to keep the treaty in light of their continued violations of the treaty. As far as the UN goes, it was predominantly over the fact we were paying 25% of the entire UN budget, and was re-negotiated down to "just" 22%. It's been underpaid since 1985 - meaning it's been under-paid for 5 previous Presidents, as well as the current President.
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
Trump may not make it to the next election...
Short of dying, how would he not make it? The Republicans still control the Senate, and the Senate is where Impeachment starts.
False. Impeachment is what the House does; trial is what the Senate does. The House can impeach President Trump, like they did President Clinton. But unless the Senate votes to convict - it's nothing. A charge, an allegation, a trial - and an acquittal.
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
As far as the UN goes, it was predominantly over the fact [Americans] were paying 25% of the entire UN budget, and was re-negotiated down to "just" 22%.
What fraction of the gross world product is the USA's gross domestic product?
TFA is paywalled. Here is an alternative article [bloomberg.com].
Bloomberg also has a (metered) paywall, and I believe Slashdot has linked to enough stories from Bloomberg in the past 30 days to exceed the limit.
Enter the renminbi. China has stopped the currency from declining more than 7.6 percent against the dollar in just the last four months.
Markets had anticipated at least 10%
Lucky China is continuing to keep its currency strong in the face of economic pressures.
Good point! It's about 15% and falling. We should push for another cut in our share of UN costs...
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
So let me see if I understand this correctly since I'm a conservative on many things and of course anti-man made climate change. Trump meets with Xi and they do some initial negotiating to end the trade war between countries.
1. Both sides agree to a 90-day trade truce.
2. The USA for now has agreed to not raise the tariffs to 25% on $200 billion worth of Chinese product in January.
3. China has agree to negotiate disagreements on technology transfer, intellectual property and agriculture.
4. China will agree to purchase (total value currently unknown) of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance.
5. China plans to designate Fentanyl as a controlled substance. *Note: I suffer from Chronic Pain after three failed back surgeries and also suffer from a neurological disorder that the doctors can't figure out. I was on Fentanyl for 5 years at 100mg every 3 days. I've been clean for over a year thanks to the Cleveland Clinic. I continue to suffer side effects from Fentanyl that I'm told may never go away. It has caused my family unbelievable hardship since I was force to retire from IT in Aug. 2014 because I could barely walk at that point and ended up in bed for about 3 years until I got in the Cleveland Clinic, the program's cost was unbelievable but worth it.
6. Both sides have agreed to try and complete the process within 90 days.
7. Furthermore, all the G-20 countries have admitted that there are issues with trade and improvements need to be made. They all agreed to submit reforms to the World Trade Org.
But according to you, Trump caved in for peanuts. I find it interesting that every time President Trump does negotiations over trade issues the USA sees improvements. Yet.....you and some on the left claim otherwise. The reality is that under President Trump we have seen improvements in trade and there is nothing that anyone on the left can claim otherwise.
I find it interesting that the many on the left keep demanding that President Trump needs to be impeached and put in jail. Yet, these same individuals forget one simple thing: Just wait until a future Democrat becomes President. The door has been left opened and the right will pull the same crap to a Democrat President as has been done to President Trump.
Turnabout is fair play after all.
-Geekpoet
Yeah, who would have thought ousting a country's elected leader and installing a puppet dictator who allowed western corporations to steal resources would upset Iranians so badly?
I particularly like how he put some of the worst stuff from the TPP into NAFTA2, knowing his base would be fine with it. Other then that, well he did delay GM closing a bunch of plants until the CUSMA was sure to be signed. Note that GM isn't closing any Mexican plants, instead they'll ramp up production down there and pay the small penalties for under paying the Mexican workers.
And considering how well America has done on the ISDS shit, why would you or Trump want it removed?
https://en.wikipedia.org/wiki/Inverted_totalitarianism
I'm not supposed to tell you guys this but...
They agreed to throw in the lead paint coating for free on all their toys. Lead is expensive. It's a really good deal.
Love your sig.
What currency manipulation?
You must be the delusional one if you think China keeping it;s currency strong instead of letting market forces lower it, is bad for the US...
Like the other people said, you must just be trolling.
Perhaps you need to read more news and stop cherry picking. What pronouncements did the Treasury Dept. later say, let's say in October 2018? They basically said China WAS NOT CURRENCY MANIPULATING. If short sellers decide to short the Euro yuan, there's not much you can do about it, sure you can defend against it, but isn't that just mere manipulation as well? It wasn't China simply setting a peg rate lower, or other techniques e.g. China buying US bonds to manipulate the currency downwards. There was no bump in US bonds buying, if so US interest rates would go down idiot... That clearly hasn't been happening.
If it's further developed, it's a good thing.
If they just rent seek from it, the profits just go overseas and it's a loss.
Better to have a local rent seeker. There is a chance they may spend the money in your economy.
And for now, that "weight" is not about just invading countries, unlike some other superpowers.
"Just wait until a future Democrat becomes President. The door has been left opened and the right will pull the same crap to a Democrat President as has been done to President Trump.
Turnabout is fair play after all"
Oh go fuck yourself you rightwing nutbar whiner. The GOP impeached Clinton over a blowjob but will happily suck Trump off despite him being a known philander, having paid off at least several women and boasted both about deliberately walking in on half-naked teens and on groping women.
The rich became fabulously wealthy BEFORE Trump's tariffs. The rich, whose companies make giant piles of cash making stuff in China with sklave labor and then selling it into the US at prices they would charge with US labor LOVED the Obama years and the likes of Bloomberg, Gates, Buffet, Soros, Cook, Steyer, are ALL opposed to Trump and his tariffs. None of those billionaires gives a damn about American workers; they get rich closing American plants and shifting the work offshore where possible and then using H1-B holders to depress the wages and benefits of Americans in jobs that cannot be outsourced.
American wages are increasing (slightly) with the Trump tariffs in place, for the first time in over 20 years.
The only American workers harmed by the tariffs so far are:
1. The rich, who are seeing their proft margins reduced.
2. Those who make a living importing Chinese crap at expense of other American workers.
3. Those who make money assisting in shipping jobs to China, at the expense of their fellow Americans.
4. Those who make things the Chinese are retaliating against (like soy bean farmers). Trump has proposed financial aid for those being harmed by the Chinese retaliation - and such assistance can easily be afforded because the Chinese buy so little from the US that their retaliation is very limited in scope. The assistance would be of limited duration anyway, since farmers can do different crops next season and also the trade fight is not likely to last.
By definition, the Chinese would be hurt far more by any trade fight with the US since they had already imposed all their trade restrictions against the US over the past decades and as a result they ship vastly more into the US than the US ships into China. This is the downside to policies like China has been implementing - there's little room to make things worse in a fight. China's over-the-top bad trade practices have served them very well for over 20 years as long as the US was lead by idiot presidents like Bush and Obama who refused to stand up for America and its workers. Both Bush and Obama did whatever the ultra-rich investor class told them to do, and they told the American workers to get used to "the new normal" of bad wages, poor growth, and reduced opportunities.
It's taken Trump, a businessman, to return a glimmer of recognition of the basic laws of economics to the federal government.
He didn't kill the TPP. It went on without the US.
There are so many unfair trade practices that China is involved in, and the U.S. has been begrudgingly accepting of them for years. If you're a business owner, how could you possibly plan for anything if Trump changes his mide ever 4 weeks.
Fast Federal Court and I.T.C. updates
US dollars have been going up against all currencies, many a lot more than Yuan.
China's currency is under pressure because of the tariffs, of course when an economy is doing poorly the currency will decrease. It's the whole point of a floating currency you nincompoop.
Anyone who doesn't understand these simple basic econ 101 facts. Should in no way be telling other people to pay attention...
Anyone who didn't expect the Yuan to naturally fall when you fuck with their economy, has no place talking about economics. The only people who are pretending to be surprised are doing it for other obvious reasons. IE pulling the wool even further over your eyes.
THEY SAID THAT TO ALLOW TRUMPO TO HAVE BARGAINING ROOM AND NOT INFLAME THEM AHEAD OF THE TALKS, IF YOU READ MORE.
They literally said as much in an interview, that because China had made no moves in the last few weeks they specifically weren't going to raise that point.
If you don't read that, DO NOT KNOW WHAT CHINA ACTUALLY DID, and you think China is doing nothing because the WH Treasury declined to say that when asked? YOU ARE A MORON!
typical answer from someone such as yourself. Can't refute so you attack a spelling mistake. Textbook really.
" Can't refute " "you are more likely to win the publishers clearing house giveaway which has nearly a 1 in 1.7 billion odds then Trumper ever seeing 1 day in jail" = Not a fact. #Refuted, bitch
1 jin = 500g
http://hiwave.starrygift.com/2...
1 jin = 604.8g
It was some dude who claims they're in charge did it. And apparently that doesn't count. So china has nothing to worry about: THEY didn't sign.
How much more evidence is required to conclude Trump is not the brilliant 'deal' strategist he thinks he is. He's failed with North Korea, his attempt to sabotage NAFTA also failed, he failed to intimidate the EU and now he's failed to get a better deal from China, which despite his bluster is pretty much the status quo with tweeks that regular diplomats could achieve in a heartbeat without any drama.
Very astute, especially the fourth and sixth items. Its not like hes against the rest of the world. Wanting good things for america immediately gets these instinctive reactions that say he wants to hurt the rest of the world. Good points. Don't forget that a good trade deal (good to whoever is the decider) results in profits for the Chinese and US governments, companies, investors, and everyone involved in the deal over time. That's why you didn't see some kind of simple tariff being placed and left at that. There is real (not merely expected) value in a deal and trump isnt just going to do what various influencers who dont have to back up their complaints tell him he should do. That explains the approach. The chinese government took significant steps toward cracking down on gang activity in the last few months. They will not tolerate that stuff. They want free trade just as much as the US, for the most part, other than some low level protective tariffs they want to keep in place so the US doesn't drain every valuable asset from them. At least, I believe that is how they put it. That is why their diplomats have been pushing for better designed teams to negotiate with the US. Notice how there is never any good news unless Xi and Trump actually talk? That's because the diplomats on each side don't know how to negotiate tariffs and they need to expand those talks so they can discuss the important elements of trade versus just hollering about soybeans and farm subsidies. The only people who are thinking victory or defeat are people who want something they are not entitled to. Like thinking people buy stuff because the packaging is good. Putting good packaging on a bad product doesn't work. Putting good packaging on a great product works great. The 90 day cooloff period, or whatever the hell you want to call it only works if chinese gangs and their like cant insert crazy profits into the mix, which is stupid because inadverdently, chinese gangs actually participate in the trade process for some good, but their other activities make it seems like they are total freeloaders. He wants both our people and the chinese to start thinking about what really matters long-term, which is both economies. Trade relationships exist only for this reason, and other kinds of diplomatic relationships - valuable for other reasons - that have cropped up are getting in the way of trade. Keep it simple. If China is buying a widget that is expected to create revenue for a chinese company or a US company is buying a widget from china that creates revenue for them, be honest about it. Diplomatic dinner parties are not the product. They are merely how the products are sold and negotiations happen.
Considering who's at the other side of the table, the Chinese wouldn't be the party I would be worried about.
Russian bots and poorly educated commentards like to accuse the US of being evil but they cannot deny that China occupied Mongolia and Tibet and has designs on Taiwan and the shipping lanes of the South China sea. They forget China wants part of Vietnam too.
The tariffs are only a starting point for negotiation. The US should require Chinese importers to the US to use non-Chinese flagged ships. They should require 100% inspection with attention to intellectual property, content (no melamine in protein, lead in jewelry, etc), and standards (no equipment claiming to meet Energy Star standards that doesn't). The costs should not be subsidised as they are now by the Customs service. This will raise costs of Chinese imports but needs to be done. Nothing should be released into the market until all fees are paid.
The US should remove all Chinese internet points of presence in the US. They have proven time and again that they cannot be trusted. They should make it easy for browser users to remove all Chinese certificate authorities and require it in any government or financial or health institutions.
They should require the Chinese to float the yuan.
For those that think the US is imperialist, do you think the Chinese will be a better friend when they are in the position the US has been in for the last half century?
LOL... the âforceâ(TM) is strong with some guys..
If the US were serious about economic growth, it would lower those barriers to innovation at least as far as China does, rather than trying to drag China into the same stupid trap.
The US is the #2 manufacturing nation in the world. Manufacturing jobs are being lost because of automation, not any other reason.
I like the Mexico 15$ minimum wage but for the rest I'm not sure.
1) The US trade deficit with China is still on a solid increase.
https://www.census.gov/foreign...
2) On Nafta, all I remember is GM closing shop when it might have been put off and US manufactures paying more for steel.
And Trump may talk like China's policies are unjust to the US, but in his personal life he calls that kind of behavior a good business sense.
Trump "renegotiated" NAFTA as basically the same deal with a few minor tweaks - no significant overhaul to agriculture or manufacturing imports. Who wants to bet that whatever trade deal (if any) gets signed with China is going to be an almost mirror image of the TPP named the US China Agreement or something?
Remember, there's a world of other places for China to get it's soybeans and other agricultural products, and all of Europe, Asia, and the rest of the Americas to ship it's smart devices to. It's US producers and consumers that are primarily being hurt by Trump's tariffs, not China.
Negotiating from a place of strength is smart business tactics, but that's not where the US is right now. We have nothing China needs that they can't find elsewhere.
Putting big deal together is the one thing Trump has done well. He changes my stomach, so I'd hope we'd at least get some good dealsfrom his presidency.
Actually one other thing he does well - drumming up publicity, getting press.
Let's try that again:
Putting big deals together is the one thing Trump has done well in his life. He churns my stomach, so I'd hope we'd at least get some good deals from his presidency.
Actually one other thing he does well - drumming up publicity, getting press. Being President comes with automatic press, though, so his penchant for getting attention isn't something I'd expect the country to benefit from.
Exacty. And this is precisely why we need to impeach and get Hillary in for the last 18 months. Pelosi will nominate her.
LOL.. How many folks will we have to burn though to get to Hillary in the presidential succession rules? Let's see, the VP all of congress, all of the cabinet and a pile of federal employees... I think I'm in line before Hillary...
"File to fit, pound to insert, paint to match" - Aircraft Maintenance 101
though they usually know the names of both their parents unlike Americans.
That's GWP adjusted for PPP. This graph shows us what percentage of foreign goods the United States can purchase with existing levels of economic output. US GDP / GWP(non-adjusted) is about 20%, which is where it has been for quite some time. The US has about as much economic output as the whole of the EU.
"Trump caves for peanuts"
While obama continues to do nothing at all.
any tiny step he makes in the process compares favourably against the steps of every administration before him for the last 5 odd decades.
Wow. Just wow. I know people are sometimes blind to the past but this is some next level shit right here. Put on your blinders and turned in so far you can't even see the road in front of you let alone the one you've left in the past.
Enjoy America while it lasts. This will not end the way you think. Hell it already isn't working the way you think.
Yes. He did. Again.
So then our share of the UN budget should be cut from 22% to 20%. Either way - we're overpaying...
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
I'm hoping Donald and Hillary share a cell with a webcam so we can watch them bring prison sex to a new level.
I think I'm in line before Hillary
Well now, when the time comes, you better be ready to step up to the plate. We're counting on you.
Is letting your sworn enemy feed you.
Neither are Apple keyboards. Your point is...?
No sig today...
USA the KNOWN currency manipulator ...
what do you think the point of quantitative easing 1, 2 3 and 4 was?
Well not yours yet shilling for big nuke.
RTFA:
intellectual property theft, non-tariff barriers and cyber theft
China has been screwing the west for a long time. Try building anything in China - Chinese factories and markets are essentially closed to outsiders unless you partner with a domestic producer, hire domestic labor, transfer knowledge and patents to the domestic producer and only agree to manufacture for export.
Do you honestly believe China's industrial revolution only took about 20 years due to the efforts of the Chinese on their own?
The reason their industrial revolution didn't take 100 years is due to western intellectual property transfer. What did the west get in return?
Cheaply manufactured Chinese junk.
So those of us who didn't drink the kool aid need to either lay down like we're dead until everybody else is, or run our asses the fuck outta dodge before we end up like the rest of them. Trying to save them or convince them otherwise (on both sides of the fence) is impossible, and all that is left is for the rationally minded americans to GTFO and if they really care, take back some of their country after it has collapsed. Because what's been going on here since Columbine is not what I want my children raised in. And yes, that covers a lot of shifts in power over the past 20 years.
Trump didn't end NAFTA he rebranded it. Similarly his goal is renegotiate TPP to ensure his investment interests are included. His requirements on H-1Bs are only part of his xenophobic drive to decrease the number of ethnic and racial minorities in the country.
A vote for a 2nd term of this clown is a continuation of the movement towards the balkanization of the USA.
They said that because they couldn't find anything that lead one to think that the Chinese government was directly manipulating the currency downward. Where's the the evidence? Why don't you show it by posting an actual article.
If you don't have the mental capacity to understand basic finance and economics, then please stop discussing it. It's pretty clear you don't understand basic concepts regarding how currency is traded or valued.
Put pressure on your congressmen to stop NAFTA! Trump getting out of NAFTA before NAFTA2 comes into effect will mean you have a real chance to not only stop NAFTA2, but to stop NAFTA in one fell stroke! Call your congressmen! Get everyone you know to call your congressmen! NAFTA can finally be stopped!
GENERATION 26: The first time you see this, copy it into your sig on any forum and add 1 to the generation.
Bullshit, Trump got a 90 day period of JACK SHIT and you're just another lying faggot.
Of course he DID cave by limiting his hand, and of course he could not really possibly have already removed the tariffs by now anyway so using that as evidence he didn't cave is typical Shanghai dishonesty again.
It is widely being reported that way, but the details say he actually gave a "cease-fire" as a 90-day ultimatum to meet all his listed demands; no new tariffs if a deal is made within 90 days. Well golly, if a deal was made, at any time, there would not be new tariffs. So it isn't really much of anything except a delay of announced tariffs to see if a deal is really close. Which it probably is not.
Everybody is running in circles trying to figure out what their "side" is supposed to echo, and few even seem to have noticed the details of what happened. ;) Or what didn't.
Eh.
1. Of course it is. Decades of exporting industry isn't going to turn on a dime.
2. GM is a shit company and deserved to die years ago when it was about to keel over. Unlike the banks, taxpayers really didn't make bank on bailing out General Mediocrity.
If an impeachment occurs and he's found guilty of something, Pence takes over. Besides, Hillary has been a total bitch for the past 40 years, which was shortly after the last time her cooch received any attention from anyone. Chelsea had to be artificially inseminated from a dental dam that one of Bill's interns used.
Trump would have to do her in the butt. The other hole is too much of a biohazard.
How about all the facts you forgot to mention?
A lot more were lost than it saved.
World growth was slowed
, and the US markets lost all it's gains for a year.
Oh and your trade deficit got worse,
along with your budget.
Only a late rally, because the market thinks the tariffs will end makes it even close.
But as deniers do, pick and choose the stats you want to believe in and ignore all the others.
Thanks for confirming Lynnwood Denier.
A post that is critical, all opinion, and no fact. Yep, its thegarbage again.
A vote for anyone else is a vote for the temporary collaboration between open border idealists and neo-feudalists towards a globalist future. Even politicians who are in their heart nationalist progressives like Sanders and Corbyn get bullied by the media into toeing the globalist line.
Globalism or Trump, those are the options ... and if you vote globalism, don't be surprised if the neo-feudalists come out on top.
"1. Of course it is. Decades of exporting industry isn't going to turn on a dime."
Why it would change as long as US citizens prefer to buy stuff made in China.
"2. GM is a shit company and deserved to die years ago when it was about to keel over. Unlike the banks, taxpayers really didn't make bank on bailing out General Mediocrity."
Not saying it's going to die just redirecting it's energies.
On steel, like years ago for washers and dryers, American suppliers just raised the price of things like rolled steel when Trump stuck tariffs on foreign suppliers, so a few US suppliers hired more workers and raised their profit margins while American companies that buy the steel now have to raise their prices or see their profits drop, and either way become less competitive.
Seriously, I mean. Saudis kill a Saudi in Turkey and we walk away from $500b in deals and abandon the upcoming Yemen peace negotiations? Thatâ(TM)d be utterly retarded, and for all his faults, Trump is most certainly not an idiot.
Again with that lie. Clinton was impeached for lying under oath. The technical name is "perjury". And he was guilty of it. He forfeited his license to practice law and a got a $600,000 fine.
Aah, change is good. -- Rafiki
Yeah, but it ain't easy. -- Simba
Trump got exactly what he wanted out of the tariff war. Trumps bellicose statements forced both Canada and Mexico to update the NAFTA trade pact.
Trump declared NAFTA, "the worst trade deal maybe ever signed anywhere." And now some minor changes was all it took to fix it. Talk about moving the goal posts.
You are funny.
I'm British, I get my independent news internationally.
China has maintained anti-competitive and frankly corrupt practices that should have been challenged by the U.S. a long time ago but I guess the economy has been too poor to risk a trade war. Rampant theft of foreign IP and forcing all foreign investors to partner with Chinese companies are huge issues that had to be resolved.
However, Trump is going absolutely the wrong way about it. Standing up against China unilaterally is a tough go. A multi-lateral negotiation would have been a much better idea but Trump has already declared war on our allies such as Canada, the EU, Britain, and South Korea. Moreover, TPP isn't popular here on Slashdot or Reddit but it was about a compromise that would replace a worse status quo or alternative. The biggest benefit of TPP was to keep China out of the region. We would also have enforced some sort of labor protection laws. And by enforcing IP regimes in the affected nations in return for open markets in the US for their goods, we would have create a market for our IP owners in those markets. A unified marketplace would have resisted China's advances.
But now we are alone standing up to China, when we could have stood up to them with other major economic powers, while locking out avenues of Chinese economic expansion in the region.
A NYC lawyer blogs. http://www.chuangblog.com/
1. The problem is that car manufacturing will simply move out of the USMCA region into China, especially smaller, lower-cost cars that do better in Europe, anyway. Manufacturers will simply build cars in China using parts made in China, and sell the cars to China or the EU.
2. Milk manufacturers in the U.S. win. Hurray?!
3. Trump lost on Chapter 19, which he wanted to eliminate. As a result, the international process by which Canada was able to successfully challenge the US rules on softwood lumber stays in place.
4. No auto tariffs for Mexico and Canada! Yay! But the entire small car industry will be leaving the region anyway.
So what did Trump win? Could it have been obtained without disrupting the relationship with Canada?
A NYC lawyer blogs. http://www.chuangblog.com/
It doesn't even look like impeachment anymore, but old fashioned criminal indictment. With Manafort turning tail and ratting out Trump, shortly after Trump's sworn statements to Mueller, a wise bet would be that the FBI will bring criminal indictment on Trump very soon. Even Trump can see the writing on the wall, and unfortunately for him this indictment is 100% pardon proof.
So it's safe to say that Trump won't be running in 2020, as he will very likely be behind bars for the rest of his life, and not even Pence will be able to pardon him.
When you graduate 8th grade and have a a better understanding of how the world works, I hope you'll reread your posts and laugh at how ridiculously naive you were at this time in your life :) When you grow up you'll realize that Trump was the KING of neo-feudalists; the evidence is literally everywhere, and he outright admits it several times a week, on video and on his twitter.
When the dots connect for you and you realize your entire worldview was a neo-feudalist lie, we'll be here to help you recover, Pinky's Brain.
CAPTCHA: retard. Wow, even /. captcha system has called you out.
HAHAHA