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China suspends tariff hikes on $126B of US goods

TU Curmudgeon

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From ABC News

China suspends tariff hikes on $126B of US goods

China has announced a 90-day suspension of tariff hikes on $126 billion of U.S. cars, trucks and auto parts following its cease-fire in a trade battle with Washington that threatens global economic growth.

The tax agency said the suspension that takes effect Jan. 1 is intended to carry out the agreement reached by Presidents Donald Trump and Xi Jinping during a Dec. 1 meeting in Argentina.

The agency said Beijing will suspend a 25 percent import charge on $66 billion of cars and trucks and a 5 percent charge on $60 billion of auto parts.

COMMENT:-

Now that most certainly sounds like a big win for Mr. Trump and I give him all the congratulations for it that he deserves.

Of course, those congratulations are somewhat tempered by the fact that the US has agreed to suspend the tariffs on around $200 billion dollars worth of Chinese imports.

China to pause 25 percent tariffs on U.S.-made cars

What does that mean?

Well, if the Chinese are going to charge the US around $31.5Bn less to do business in China in return for the Americans charging the Chinese around $50Bn less to do business in the US, which side do you think got the better deal?

You might also want to consider who got the better deal if the Chinese agreed to reducing tariffs on items that the Americans ARE NOT able to convince the Chinese people to buy in return for the Americans agreeing to reduce tariffs on items that the Chinese ARE able to convince the American people to buy.
 

ElChupacabra

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That's good for now, but what's agreed to in the end is what will be telling in regards to who benefits in the long run. I think there's plenty China can do to make it easier for the US to provide more offerings, so how eager they are to do so will be obvious in how a trade agreement is structured.
 

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My prediction: the Chinese will run circles around Trump's trade team, but Trump will claim that any "deal" is the best ever.

(Might even claim that the Chinese deal is ALSO helping to pay for the southern border wall, just as he claims Mexico will be paying via NAFTA 2.0.)
 

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Trump is not pursuing tariffs for economic purposes, he is pursuing them for regime change.

It is a reckless, clumsy and ill-advised tactic with a wide range of unforeseen collateral damage that we will not have to wait long to witness.

He would settle for a fig leaf agreement similar to Nafta II but he may have dug himself in too deep on this one. I hope not.
 

Mycroft

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From ABC News

China suspends tariff hikes on $126B of US goods

China has announced a 90-day suspension of tariff hikes on $126 billion of U.S. cars, trucks and auto parts following its cease-fire in a trade battle with Washington that threatens global economic growth.

The tax agency said the suspension that takes effect Jan. 1 is intended to carry out the agreement reached by Presidents Donald Trump and Xi Jinping during a Dec. 1 meeting in Argentina.

The agency said Beijing will suspend a 25 percent import charge on $66 billion of cars and trucks and a 5 percent charge on $60 billion of auto parts.

COMMENT:-

Now that most certainly sounds like a big win for Mr. Trump and I give him all the congratulations for it that he deserves.

Of course, those congratulations are somewhat tempered by the fact that the US has agreed to suspend the tariffs on around $200 billion dollars worth of Chinese imports.

China to pause 25 percent tariffs on U.S.-made cars

What does that mean?

Well, if the Chinese are going to charge the US around $31.5Bn less to do business in China in return for the Americans charging the Chinese around $50Bn less to do business in the US, which side do you think got the better deal?

You might also want to consider who got the better deal if the Chinese agreed to reducing tariffs on items that the Americans ARE NOT able to convince the Chinese people to buy in return for the Americans agreeing to reduce tariffs on items that the Chinese ARE able to convince the American people to buy.

This is a good start. It shows that China is taking steps to implement the agreement between Trump and Xi. But there is more to the agreement. We'll see how it goes in the next 90 days.
 

Mycroft

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Trump is not pursuing tariffs for economic purposes, he is pursuing them for regime change.

It is a reckless, clumsy and ill-advised tactic with a wide range of unforeseen collateral damage that we will not have to wait long to witness.

He would settle for a fig leaf agreement similar to Nafta II but he may have dug himself in too deep on this one. I hope not.

"regime change"???

What regime change?
 

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So do I have this right?

Trump threatens tariffs on China. China responds by threatening back. After a meeting, Trump delays the proposed implementation of U.S. tariffs. Subsequently, China suspends their proposed tariffs. Trump then proclaims he averted Chinese tariffs.

Am I missing something?
 

Mycroft

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The same country named in this thread?

LOL!!

Okay. Perhaps I should have been clearer about my question.

What on earth makes you think Trump is interested in regime change in China?
 

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My prediction: the Chinese will run circles around Trump's trade team

Because our trade with China was historically amazing before now?
 

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Disraeli

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LOL!!

Okay. Perhaps I should have been clearer about my question.

What on earth makes you think Trump is interested in regime change in China?

This is about humiliating Xi and making him back down. Bolton & Co. are aware that Xi's power grab didn't sit well with many Chinese. Here is an opportunity to "reorder" the Chinese political landscape by damaging or removing Xi and buying time by slowing down the "Belt & Road", South China Sea control, Chinese industrial & military espionage, etc.
Trade? What do we buy from China that we could manufacture here competitively? What do we make that China will buy in any quantity? The only things that come to mind are toys we won't sell them. If this were solely economic in nature you would see a different negotiating strategy.
This is a smart little ploy on the face of it, but what if it backfires? Right now we are impacting the world economy and global markets. Will the world blame Trump or Xi?
 

TU Curmudgeon

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This is a good start. It shows that China is taking steps to implement the agreement between Trump and Xi. But there is more to the agreement. We'll see how it goes in the next 90 days.

When you actually read the details, it's somewhat difficult to equate "The US is giving more than it is getting (and even most of what it is getting could well be illusionary)" with a "good start" (unless you are the Chinese government, of course).
 

TU Curmudgeon

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So do I have this right?

Trump threatens tariffs on China. China responds by threatening back. After a meeting, Trump delays the proposed implementation of U.S. tariffs. Subsequently, China suspends their proposed tariffs. Trump then proclaims he averted Chinese tariffs.

Am I missing something?

Only that the "suspensions" were more valuable for China than they were for the United States of America.
 

What if...?

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So do I have this right?

Trump threatens tariffs on China. China responds by threatening back. After a meeting, Trump delays the proposed implementation of U.S. tariffs. Subsequently, China suspends their proposed tariffs. Trump then proclaims he averted Chinese tariffs.

Am I missing something?

Just the spin.
 

American

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My prediction: the Chinese will run circles around Trump's trade team, but Trump will claim that any "deal" is the best ever.

(Might even claim that the Chinese deal is ALSO helping to pay for the southern border wall, just as he claims Mexico will be paying via NAFTA 2.0.)

Funny how leftwingers never have faith in American businessmen, but infinite faith in a communist regime.
 

Airyaman

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Funny how leftwingers never have faith in American businessmen, but infinite faith in a communist regime.

You mean an American con man...never thought Trump was a good businessman so toss that one out.
 

TU Curmudgeon

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Do you mind if I deal only with your

What do we buy from China that we could manufacture here competitively? What do we make that China will buy in any quantity?

The answer to the first question is "Almost nothing because American labour costs are so high and the facilities to manufacture the stuff simply don't exist and, of course, because the Chinese have already contracted for the materials that would be needed for that manufacture.".

The answer to your second question is "Almost nothing because there is nothing that America manufactures (other than some American weapons systems that the US doesn't sell to China in any event) that some other country cannot manufacture (and would be more than happy to see the increase in their GNP that came from doing so)."
 

American

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You mean an American con man...never thought Trump was a good businessman so toss that one out.

No one cares about your opinion, because it doesn't make it so.
 

TU Curmudgeon

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Funny how leftwingers never have faith in American businessmen, but infinite faith in a communist regime.

You do know that Mr. Trump does NOT have the real world negotiating experience of the majority of (the major) American businessmen, don't you?
 

American

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You do know that Mr. Trump does NOT have the real world negotiating experience of the majority of (the major) American businessmen, don't you?

Dude, you wouldn't know.
 

TU Curmudgeon

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Dude, you wouldn't know.

You might be right.

After all, all I have seen him do since becoming elected President is indulge in pitiful excuses for personal publicity gathering without producing any measurable, long-term, benefit for the country.

Of course, before that I do have to admit that his business conduct was such at to make me ensure that the silver was locked up BEFORE I let him in the front door.
 

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Trump is not pursuing tariffs for economic purposes, he is pursuing them for regime change.

It is a reckless, clumsy and ill-advised tactic with a wide range of unforeseen collateral damage that we will not have to wait long to witness.

He would settle for a fig leaf agreement similar to Nafta II but he may have dug himself in too deep on this one. I hope not.

Regime change? In China? Seriously?
 

Mycroft

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When you actually read the details, it's somewhat difficult to equate "The US is giving more than it is getting (and even most of what it is getting could well be illusionary)" with a "good start" (unless you are the Chinese government, of course).

As I said, there is more to the agreement. Don't make the mistake in thinking this first move is all there is. And, keep in mind...if the Chinese don't come through with the rest of the agreement in 90 days, all deals are off.
 
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