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From ABC News
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.
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.