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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.
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...
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.
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.
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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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.
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.
Agree 100%. Hopefully, trump will make china open up for all west, not just America.
I prefer the "u" in honour as it seems to be missing these days.
Does that mean I can continue to get cheap shit from Banggood?
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.
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.
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.
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
- Chinese tariff levels and ownership restriction are WTO deals they reached with the US and the other developed countries some 20 years ago, in exchange China agreed to things like processing American trash which pollute its environment heavily. If the US didn't like the deal, why did it sign it. One thing I totally agree with President Trump: if we want to blame, we should blame the past US presidents. But why is that China's fault?
- Chinese currency manipulation is a myth: if you actually live in China for the last 4 decades, you would notice that the government has been trying hard to lift Yuan's rate, without that effort, Yuan would be probably worth as much as Yen. go check the exchange rates of these two currency. So we should actually thank the Chinese government, else Chinese products would be many times cheaper than they are now.
- Postal treaty? Again China has been admitted as a developing country and so enjoy the lower rate. Given there is no process to re-evaluate their status, why is it China's fault? Is it China still a developing country? That depends on how one defines "developing country". As far as I know, there is no real legal definition. but you can check China's GDP per capita to decide if China is still developing or not.
- IP theft? The US itself had stolen massively when it was a developing country. And today's China enforce patent laws pretty well. For examples, Chinese patient have to pay extremely high price for western medicine, whereas India produces all the cheap imitate that benefits their population. So at best, this IP theft claim is exaggerated nowaday
- 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.
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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.
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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.
Good point! It's about 15% and falling. We should push for another cut in our share of UN costs...
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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
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
> Obama did nothing and I doubt Clinton would have either.
That's false. The Trans Pacific Partnership was designed to reign in China's influence in many ways. Trump shit on it from day 1, because the irrational hatred for Obama is rampant on the right. The TPP was a long game, but Trump's tariffs are a short-sighted game that won't produce the things he's promising. There's just no way he'll accomplish anything near the scope of the TPP by these tariffs.
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.
You just praised Trump, the man who has been frequently non-ironically compared to Adolf Hitler by serious, sober journalists.
Shutting down free speech with violence isn't fighting fascism. It IS fascism!
Why?? The rest of the West has made it quite clear they despise America in general and Trump specifically. Why should we do anything for you ungrateful jerks? You've been very ugly about it, like an ex-wife trashing her former husband. Really hateful and nobody doubts that you were dead serious.
Make your own deals; stand on your own two feet. Daddy Trump is kicking you out of the basement and into the real world. It's for your own good. Learn to do things on your own.
Shutting down free speech with violence isn't fighting fascism. It IS fascism!
rampant IP theft
IP theft is only a thing if a nation passes laws saying so.
If a country doesn't recognize patents and copyright then good for them. Sounds like heaven to me.
The US off shored most of its manufacturing so of course they need to make IP a thing. I predict a future where the main purpose of the US "defense" force is to enforce more and more draconian IP laws around the world.
It's only a matter of time until the corporatocracy moves us to never expiring copyright and patents.
It's so easy to spot paid commenters these days. IP theft claim is exaggerated. Sure thing, Mr. Zhang. Your English sure is good. You went to school in America, didn't you?
Shutting down free speech with violence isn't fighting fascism. It IS fascism!
Itâ(TM)s the 16th time that the Obama administration has taken complaints about China to the WTO. Of the seven cases that have been decided, the U.S. has won all seven.
yeah Obama did nothing...
How this bullshit gets uprated i'll never understand.
Obama has done NOTHING ? None of you moronic moderators could spend 2 minutes searching to verify that he did NOTHING ?
https://www.washingtontimes.co...
And that article came from the Washington Times. Run by a right wing lunatic. Don't believe me check out the headlines at the bottom of the page. So much for fake news.
The democrats will praise this when they figure out if it really helps or not, since Trump and many of the members of his administration lie often and with impunity.
Also too, those tariffs the Trumpbots are rallying around are being paid by you, not by China.
Absolute statements are never true
Anyone who brings up hitler or nazis to try to win an argument has all ready lost. And is incompetent, at best.
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
typical answer from someone such as yourself. Can't refute so you attack a spelling mistake. Textbook really.
You sure convinced me with those hot opinions.
Yes he is! And now you are stuck with a begreived dictator for live ruling world's second largest economy till he dies! Excellent!
That's the spirit - bring on those significant digits!
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.
LOL... the âforceâ(TM) is strong with some guys..
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
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.
Obama did nothing and I doubt Clinton would have either.
Obama did something. He allowed Americans to go on enjoying cheap products from China rather than forcing them to pay for the made in America prices that no one was very fond of.
If they just rent seek from it, the profits just go overseas and it's a loss.
The Chinese buying American real estate are not repatriating their profits.
The main point of buying property in America is to have a safe bolthole in case of political or financial turmoil in China. China has strict capital controls, so if you finally get your money out, the last thing you would want to do is send it back.
1 jin = 604.8g
Wrong. The PRC jin is exactly 500 grams.
The old standard of 604.8 grams is occasionally used in Hong Kong and Taiwan, but not in mainland China.
So then our share of the UN budget should be cut from 22% to 20%. Either way - we're overpaying...
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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.
The TPP was never in place - and Hillary also opposed it. So using it as justification for some weird fantasy you have is, well, a fantasy.
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
For those "journalists", anyone to the right of Bernie Sanders is a Nazi, and even Bernie is suspect sometimes... The Nazis were all about socialized healthcare, Government control of the economy via heavy regulation, and 100% confiscation of personal firearms. What's President Trump's stance on those issues? Where do those "journalists" stand on those issues? I believe the "Nazi accusers" doth protest too much.
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Guess what - if you have a patent in France, I can go to Germany and copy it! Patents - worldwide - are on a country-by-country basis. The issue is that China FORCED you to transfer IP - even the EU took China to the WTO over the practice. China forces companies to share - and grant - IP to Chinese companies, if a foreign company wants to do business in many industries in China. That's against WTO rules.
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
Neither are Apple keyboards. Your point is...?
No sig today...
Stop spreading lies. The nazis had less socialised healthcare than in the monarchy days, the economy regulation was a war thing and their personal firearm laws were far more lenient than most European firearm laws nowadays.
"It's such a fine line between stupid and clever" -- David St. Hubbins, Spinal Tap
I agree all those are issues. But this doesn't solve any of them. All Trump got was the agreement to talk about those issues. Which Clinton got, W. got and Obama got. Nothing came out of those talks then, and nothing has come out of Trump's policies either.
TL;DR this isn't a solution. Call me when he actually solves a problem.
Your ad here. Ask me how!
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.
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.
The statement was that the markets had lost throughout that year. That is provably false. If you have a problem with it - take it up with the original AC (or yourself).
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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
It does not matter how many times paperwork was filed.
What matters is how much in dollar value.
Niw get off your democratic shithorse and piss off
I do not believe in karma. "Funny"=-6. Do good and forbid evil. Yours, Oft-Offtopic Flamebaiting Troll.
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/
Slashdot was pretty united against the TPP too in many of the articles here before Clinton or Trump got involved. It was just a horrible idea all around.