The ‘giant hole’ in Trump’s new China deal

imaginethat

Forum Staff
Oct 2010
70,592
30,776
Colorado
Here we go again....

After building a few miles of new barrier, Trump's claimed victory on building the wall. on the southern border, despite only erecting a few miles of a new barrier. He's claimed success in persuading North Korea’s to give up its nuclear weapons, yet he hasn't a thing to show he has. And despite his claim to be the savior of preexisting medical conditions coverage, the truth is just the opposite.

And now, with the US-China trade deficit continuing to grow, and with an accelerating growth rate despite Trump's taxes on Americans, his China tariffs....here comes another false claim of victory.



...we have yet another false claim of victory.

The ‘giant hole’ in Trump’s new China deal
The China trade deal President Donald Trump is hailing as a major win fails to address some of Beijing’s most egregious practices — the issues that sparked the trade war in the first place.​
...The so-called phase one agreement centers on increased Chinese purchases of American agricultural, energy and other products, while adding new restrictions in areas like technology transfers and currency devaluation.​
Though the handshake will help stabilize the relationship between the world’s two largest economies and provide relief to farmers and manufacturers bearing the brunt of Trump’s tariffs, critics warn it falls woefully short in a crucial way: The 86-page text does not cover long-standing U.S. concerns about China’s industrial policy, including how to rein in the billions of dollars in government subsidies Beijing bestows upon its state-owned enterprises.​
“That’s a giant hole in the phase one deal, and there’s no way to get around it,” said Chad Bown, a senior fellow at the Peterson Institute for International Economics.​
...Trump himself has begun to lower expectations, saying he’s in no rush, and his top allies are warning the next phase might not conclude until after November’s presidential election. The result is increasing frustration among some American businesses and technology companies who feel Trump is trading away hard-earned leverage in exchange for an agreement that does little to resolve the systemic issues that led the White House to begin imposing tariffs against China two years ago.​
...While the agreement may help Trump score political points to carry into his reelection campaign as evidence of his dealmaking prowess, others argue the main benefit of the first phase of the agreement is simply to unwind the damage the president himself has inflicted.​
“The administration has pulled back from escalating the trade war, and I guess that’s a positive thing. But they started this all in the first place,” said Daniel Griswold, a senior research fellow at George Mason University’s Mercatus Center.​
“I still don’t think we’re any better off than we were before the Trump administration pursued a trade action against China,” he added....​

More: The ‘giant hole’ in Trump’s new China deal
 
  • Like
Reactions: Clara007
Jul 2015
5,941
2,435
chicago
Major tariffs remain in place for further work after the initial phase. This is only the start.
 

RNG

Forum Staff
Apr 2013
41,090
29,275
La La Land North
The agreement was posted but it is 94 pages long. And I hate reading legalese. But with the impeachment firing up and the Parnas bombshells falling in great numbers it has not gotten the media's attention yet.

I'm waiting for some media to post summaries of it.
 

imaginethat

Forum Staff
Oct 2010
70,592
30,776
Colorado
Major tariffs remain in place for further work after the initial phase. This is only the start.
Agreed.

Still, Trump himself was quick to tout the benefits of an agreement he hailed as a "really incredible breakthrough" at Wednesday’s signing ceremony, which dozens of Republican lawmakers and business and industry representatives attended.

“Today we take a momentous step — one that has never been taken before with China — toward a future of fair and reciprocal trade," Trump said in the White House East Room.


Reminds me of another momentous step....



DJ Trump.... All drama, all of the time!!
 
  • Haha
Reactions: Clara007

RNG

Forum Staff
Apr 2013
41,090
29,275
La La Land North
Agreed.

Still, Trump himself was quick to tout the benefits of an agreement he hailed as a "really incredible breakthrough" at Wednesday’s signing ceremony, which dozens of Republican lawmakers and business and industry representatives attended.

“Today we take a momentous step — one that has never been taken before with China — toward a future of fair and reciprocal trade," Trump said in the White House East Room.


Reminds me of another momentous step....



DJ Trump.... All drama, all of the time!!
And I full expect this deal with China to be as fruitful as the great deal he made with NorK.
 
  • Like
Reactions: Clara007
Mar 2018
834
272
Rosebud
Major tariffs remain in place for further work after the initial phase. This is only the start.

Yep. But you know that haters are gonna hate. Meanwhile, what did Clinton, GW, and Obama do about this, other than rollover. Imagine what Hillary would have done, yeah, rollover.
 

imaginethat

Forum Staff
Oct 2010
70,592
30,776
Colorado
Yep. But you know that haters are gonna hate. Meanwhile, what did Clinton, GW, and Obama do about this, other than rollover. Imagine what Hillary would have done, yeah, rollover.
An insult, a whatabout, and a whatabout.

Is there any other "point" you'd like to raise?