RE: U.S. reaches tentative trade deal with China, pending Trump's signoff
Even while maneuvering the swamp with the ball-and-chain that is the democrat party, this president is making strides and getting more accomplished than his predecessors...
RE: U.S. reaches tentative trade deal with China, pending Trump's signoff
The report is in.
Quote:Two years ago, donald trump signed what he called a "historical trade deal" with China that committed China to purchase $200 billion of additional US exports before December 31, 2021. Today the only undisputed "historical" aspect of that agreement is its failure. One lesson is not to make deals that cannot be fulfilled when unforeseen events inevitably occur—in this case, a pandemic and a recession. Another is not to forget the complementary policies needed to give an agreement a chance to succeed.
In the end, China bought only 57 percent of the US exports it had committed to purchase under the agreement, not even enough to reach its import levels from before the trade war. Put differently, China bought none of the additional $200 billion of exports trump's deal had promised.
trump's "phase one" agreement with his "very, very good friend" President Xi Jinping was not a total washout. The deal did halt his spiraling trade war. And several of its elements should be kept, notably China's commitments to remove technical barriers to US farm exports, respect intellectual property, and open up its financial services sector.
However, signing something that was problematic, if not unrealistic, from the start, shows some degree of bad faith on both sides. After two years of escalating tariffs and rhetoric about economic decoupling, the deal did little to reduce the uncertainty discouraging the business investment needed to restart US exports. Most of trump's tariffs remained in effect, especially on inputs, raising costs to US companies. And by failing to negotiate the removal of China's retaliatory tariffs, the agreement may have funneled any Chinese demand for US exports away from China's private sector toward its state-owned enterprises.
RE: U.S. reaches tentative trade deal with China, pending Trump's signoff
(02-09-2022 07:17 AM)Redwingtom Wrote: The report is in.
Quote:Two years ago, donald trump signed what he called a "historical trade deal" with China that committed China to purchase $200 billion of additional US exports before December 31, 2021. Today the only undisputed "historical" aspect of that agreement is its failure. One lesson is not to make deals that cannot be fulfilled when unforeseen events inevitably occur—in this case, a pandemic and a recession. Another is not to forget the complementary policies needed to give an agreement a chance to succeed.
In the end, China bought only 57 percent of the US exports it had committed to purchase under the agreement, not even enough to reach its import levels from before the trade war. Put differently, China bought none of the additional $200 billion of exports trump's deal had promised.
trump's "phase one" agreement with his "very, very good friend" President Xi Jinping was not a total washout. The deal did halt his spiraling trade war. And several of its elements should be kept, notably China's commitments to remove technical barriers to US farm exports, respect intellectual property, and open up its financial services sector.
However, signing something that was problematic, if not unrealistic, from the start, shows some degree of bad faith on both sides. After two years of escalating tariffs and rhetoric about economic decoupling, the deal did little to reduce the uncertainty discouraging the business investment needed to restart US exports. Most of trump's tariffs remained in effect, especially on inputs, raising costs to US companies. And by failing to negotiate the removal of China's retaliatory tariffs, the agreement may have funneled any Chinese demand for US exports away from China's private sector toward its state-owned enterprises.
Wow it's almost like the country that made the deal w/ the US screwed things up for the entire world here. I guess Trump should've had a crystal ball and predicted Covid-19. What an idiotic quote from the article...
"One lesson is not to make deals that cannot be fulfilled when unforeseen events inevitably occur—in this case, a pandemic and a recession."
(This post was last modified: 02-09-2022 09:40 AM by b2b.)
RE: U.S. reaches tentative trade deal with China, pending Trump's signoff
(02-09-2022 07:17 AM)Redwingtom Wrote: The report is in.
Quote:Two years ago, donald trump signed what he called a "historical trade deal" with China that committed China to purchase $200 billion of additional US exports before December 31, 2021. Today the only undisputed "historical" aspect of that agreement is its failure. One lesson is not to make deals that cannot be fulfilled when unforeseen events inevitably occur—in this case, a pandemic and a recession. Another is not to forget the complementary policies needed to give an agreement a chance to succeed.
In the end, China bought only 57 percent of the US exports it had committed to purchase under the agreement, not even enough to reach its import levels from before the trade war. Put differently, China bought none of the additional $200 billion of exports trump's deal had promised.
trump's "phase one" agreement with his "very, very good friend" President Xi Jinping was not a total washout. The deal did halt his spiraling trade war. And several of its elements should be kept, notably China's commitments to remove technical barriers to US farm exports, respect intellectual property, and open up its financial services sector.
However, signing something that was problematic, if not unrealistic, from the start, shows some degree of bad faith on both sides. After two years of escalating tariffs and rhetoric about economic decoupling, the deal did little to reduce the uncertainty discouraging the business investment needed to restart US exports. Most of trump's tariffs remained in effect, especially on inputs, raising costs to US companies. And by failing to negotiate the removal of China's retaliatory tariffs, the agreement may have funneled any Chinese demand for US exports away from China's private sector toward its state-owned enterprises.
RE: U.S. reaches tentative trade deal with China, pending Trump's signoff
(12-17-2019 09:10 AM)stinkfist Wrote:
(12-17-2019 08:09 AM)miko33 Wrote:
(12-17-2019 01:31 AM)stinkfist Wrote:
(12-16-2019 03:57 PM)Redwingtom Wrote: Interesting. Looks like this "deal" we're talking about is different than the "deal" China sees.
Quote:U.S. Trade Representative Robert Lighthizer told here reporters on Friday that the deal includes promises by Beijing to buy $200 billion more in U.S. goods and services over the next two years, a huge jump in China's imports of $186 billion in 2017.
Officials in China have not confirmed any dollar figure.
...
Asked specifically about U.S. President Donald Trump's Dec. 13 claim here that China would buy $50 billion in farm products, Ning said there is "no doubt that China will increase the procurement of high-quality and market-competitive U.S. agricultural products," but said specifics were still being determined.
The implementation of the agreement will “greatly increase the agricultural products we import from the United States,” vice minister of agriculture and rural affairs Han Jun said, adding that imports of pork and poultry were “urgently needed” to stabilize the domestic market.
China “will import some wheat, corn, and rice from the United States,” Han said. But he added that China will continue to emphasize self-sufficiency in grains, rather than relying on imports. “We will firmly hold the rice bowl in our own hands,” he said, and will keep national food security the bottom line.
...
The United States and China will sign a deal the first week in January, Lighthizer said here on Friday.
Beijing would not confirm that timing on Monday.
"Our two sides still need to go through necessary procedures including legal reviewing and translation proofreading," Geng Shuang, the foreign ministry spokesman, said during a Monday press briefing here when asked.
“After that, we will decide when, where and how we will sign it. Working-level discussions are still going on between China and the U.S.,” he said.
RE: U.S. reaches tentative trade deal with China, pending Trump's signoff
(02-09-2022 08:43 AM)b2b Wrote:
(02-09-2022 07:17 AM)Redwingtom Wrote: The report is in.
Quote:Two years ago, donald trump signed what he called a "historical trade deal" with China that committed China to purchase $200 billion of additional US exports before December 31, 2021. Today the only undisputed "historical" aspect of that agreement is its failure. One lesson is not to make deals that cannot be fulfilled when unforeseen events inevitably occur—in this case, a pandemic and a recession. Another is not to forget the complementary policies needed to give an agreement a chance to succeed.
In the end, China bought only 57 percent of the US exports it had committed to purchase under the agreement, not even enough to reach its import levels from before the trade war. Put differently, China bought none of the additional $200 billion of exports trump's deal had promised.
trump's "phase one" agreement with his "very, very good friend" President Xi Jinping was not a total washout. The deal did halt his spiraling trade war. And several of its elements should be kept, notably China's commitments to remove technical barriers to US farm exports, respect intellectual property, and open up its financial services sector.
However, signing something that was problematic, if not unrealistic, from the start, shows some degree of bad faith on both sides. After two years of escalating tariffs and rhetoric about economic decoupling, the deal did little to reduce the uncertainty discouraging the business investment needed to restart US exports. Most of trump's tariffs remained in effect, especially on inputs, raising costs to US companies. And by failing to negotiate the removal of China's retaliatory tariffs, the agreement may have funneled any Chinese demand for US exports away from China's private sector toward its state-owned enterprises.
Wow it's almost like the country that made the deal w/ the US screwed things up for the entire world here. I guess Trump should've had a crystal ball and predicted Covid-19. What an idiotic quote from the article...
"One lesson is not to make deals that cannot be fulfilled when unforeseen events inevitably occur—in this case, a pandemic and a recession."
Yeah...I agree...that comment was pretty lame...and distracts from the actual facts in the article.
RE: U.S. reaches tentative trade deal with China, pending Trump's signoff
(02-09-2022 07:17 AM)Redwingtom Wrote: The report is in.
Quote:Two years ago, donald trump signed what he called a "historical trade deal" with China that committed China to purchase $200 billion of additional US exports before December 31, 2021. Today the only undisputed "historical" aspect of that agreement is its failure. One lesson is not to make deals that cannot be fulfilled when unforeseen events inevitably occur—in this case, a pandemic and a recession. Another is not to forget the complementary policies needed to give an agreement a chance to succeed.
In the end, China bought only 57 percent of the US exports it had committed to purchase under the agreement, not even enough to reach its import levels from before the trade war. Put differently, China bought none of the additional $200 billion of exports trump's deal had promised.
trump's "phase one" agreement with his "very, very good friend" President Xi Jinping was not a total washout. The deal did halt his spiraling trade war. And several of its elements should be kept, notably China's commitments to remove technical barriers to US farm exports, respect intellectual property, and open up its financial services sector.
However, signing something that was problematic, if not unrealistic, from the start, shows some degree of bad faith on both sides. After two years of escalating tariffs and rhetoric about economic decoupling, the deal did little to reduce the uncertainty discouraging the business investment needed to restart US exports. Most of trump's tariffs remained in effect, especially on inputs, raising costs to US companies. And by failing to negotiate the removal of China's retaliatory tariffs, the agreement may have funneled any Chinese demand for US exports away from China's private sector toward its state-owned enterprises.
RE: U.S. reaches tentative trade deal with China, pending Trump's signoff
(02-09-2022 11:48 AM)UofMstateU Wrote:
(02-09-2022 07:17 AM)Redwingtom Wrote: The report is in.
Quote:Two years ago, donald trump signed what he called a "historical trade deal" with China that committed China to purchase $200 billion of additional US exports before December 31, 2021. Today the only undisputed "historical" aspect of that agreement is its failure. One lesson is not to make deals that cannot be fulfilled when unforeseen events inevitably occur—in this case, a pandemic and a recession. Another is not to forget the complementary policies needed to give an agreement a chance to succeed.
In the end, China bought only 57 percent of the US exports it had committed to purchase under the agreement, not even enough to reach its import levels from before the trade war. Put differently, China bought none of the additional $200 billion of exports trump's deal had promised.
trump's "phase one" agreement with his "very, very good friend" President Xi Jinping was not a total washout. The deal did halt his spiraling trade war. And several of its elements should be kept, notably China's commitments to remove technical barriers to US farm exports, respect intellectual property, and open up its financial services sector.
However, signing something that was problematic, if not unrealistic, from the start, shows some degree of bad faith on both sides. After two years of escalating tariffs and rhetoric about economic decoupling, the deal did little to reduce the uncertainty discouraging the business investment needed to restart US exports. Most of trump's tariffs remained in effect, especially on inputs, raising costs to US companies. And by failing to negotiate the removal of China's retaliatory tariffs, the agreement may have funneled any Chinese demand for US exports away from China's private sector toward its state-owned enterprises.
RE: U.S. reaches tentative trade deal with China, pending Trump's signoff
(02-09-2022 11:56 AM)ODU BBALL Wrote:
(02-09-2022 11:48 AM)UofMstateU Wrote:
(02-09-2022 07:17 AM)Redwingtom Wrote: The report is in.
Quote:Two years ago, donald trump signed what he called a "historical trade deal" with China that committed China to purchase $200 billion of additional US exports before December 31, 2021. Today the only undisputed "historical" aspect of that agreement is its failure. One lesson is not to make deals that cannot be fulfilled when unforeseen events inevitably occur—in this case, a pandemic and a recession. Another is not to forget the complementary policies needed to give an agreement a chance to succeed.
In the end, China bought only 57 percent of the US exports it had committed to purchase under the agreement, not even enough to reach its import levels from before the trade war. Put differently, China bought none of the additional $200 billion of exports trump's deal had promised.
trump's "phase one" agreement with his "very, very good friend" President Xi Jinping was not a total washout. The deal did halt his spiraling trade war. And several of its elements should be kept, notably China's commitments to remove technical barriers to US farm exports, respect intellectual property, and open up its financial services sector.
However, signing something that was problematic, if not unrealistic, from the start, shows some degree of bad faith on both sides. After two years of escalating tariffs and rhetoric about economic decoupling, the deal did little to reduce the uncertainty discouraging the business investment needed to restart US exports. Most of trump's tariffs remained in effect, especially on inputs, raising costs to US companies. And by failing to negotiate the removal of China's retaliatory tariffs, the agreement may have funneled any Chinese demand for US exports away from China's private sector toward its state-owned enterprises.
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U.S. reaches tentative trade deal with China, pending Trump's signoff
