Five days after opening the U.S. embassy in Jerusalem -- another promise kept -- China said it will “significantly increase purchases of United States goods and services” and “help support growth and employment in the United States.”
Bu-bu-but Barack Obama said those jobs aren't coming back.JUST IN: In joint statement with the US, China says it will “significantly increase purchases of United States goods and services” to “help support growth and employment in the United States.”https://t.co/vpyWbVRRy9 pic.twitter.com/OZ0CU8vqPJ— CNBC Now (@CNBCnow) May 19, 2018
The announcement ciomes days after Josh Rogin of the Washington Post wrote, "China gave Trump a list of crazy demands, and he caved to one of them."
Rogin's sources are a bunch of government lifers who are so outside the loop that they should orbit the Earth.
John Harwood of CNBC wrote, "President Trump shrinks from another fight with China."
And yet, here we are on Saturday night talking about a trade deal. Each side gave a little. Each side gained a little.
"After weeks of tensions, China and the United States have reached an initial agreement on trade," CNN reported.
"Both parties said in a joint statement on Saturday that China has agreed to 'significantly increase' purchases of US goods and services, in order to reduce the trade imbalance between the two countries. This was a top demand of the Trump administration during two days of trade talks in Washington with Chinese officials.
"It remains to be seen how big a step the agreement represents. The announcement did not put a dollar amount on the commitment from China."
The joint statement said, in part, "To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services. This will help support growth and employment in the United States."
Any reduction in the trade deficit with Red China is a win because Hillary never would have addressed the issue. She was more interested in collecting money from foreign governments laundered through her fake charity.
This is all great, but what about IP protections? That's almost a bigger deal than the trade deficit.
ReplyDeleteThe current world trade framework has made China wealthy.
ReplyDeleteI've been to China. The skyscrapers and high speed rail lines are everywhere. Prosperity is widespread.
I suspect that DJT has made it clear for the current framework to be sustainable, it has to be a positive influence on America's economy too.
PHG makes a good point about Intellectual Property. And you can't trust China, they're out for themselves. Still, this ia a YUGE first step and it is a first step that the Bushes, Clinton and Obama never even attempted.
And as Don notes, it just organically happens despite the media crying DOOM at every step.
JimNorCal
Patriots play hardball in overseas agreements.
ReplyDeleteAll you need to know.
Imagine how much bribe money has gone to our "negotiators" over the years to give our adversaries what they wanted.
DeleteCheaper than dirt for what they got.
DeleteI read 380 bil, but who knows?
ReplyDeleteshrinks from another fight with China
And here I thought that's what they wanted.
The devil is in the details but I trust PDJT, Mnuchin and Ross.
ReplyDelete