Trade victory for the President?

[mukk_in]

China has promised to open its markets more and lower tariffs. Not much, but its a start. Premature to congratulate the President? I'm certainly breathing a sigh of relief.

 

[Zoii]

China has promised to open its markets more and lower tariffs. Not much, but its a start. Premature to congratulate the President? I'm certainly breathing a sigh of relief.

Such a fool if he thinks imposing Tariffs will win USA anything. Reciprocation will damage the USA far more than it will damage any other country. So foolish

 

[mukk_in]

The President's just tweeted that he is very thankful for President Xi's conciliatory approach on reducing automobile import tariffs, allowing banks and financial institutions more access to the Chinese markets and stricter enforcement of IP laws and facilitating Tech transfer. Good news!.

 

[mukk_in]

Update:

China has announced specific deadlines for implementing trade reforms. Financial institutions (Banks, insurance companies, investment groups, etc.) should be able to access Chinese markets with up to 51% market cap by the end of this year. They're also waiving the requirement of a Chinese counterpart for 2 years. President is also confident about NAFTA. Things are looking up for the American workers, companies and us investors . Source: PBOC (People's Bank of China). Link: http://www.pbc.gov.cn/english/130721/3517991/index.html. Art of the deal, indeed, Mr. President!

PS: I'll post updates when available .

 

[mukk_in]

Update:

Some adverse rhetoric from bureaucrats on both sides. But, the respective Presidents will have to sign off on future tariffs for them to be enforced. Since both Presidents have spoken positively, I believe that even if new tariffs lists are released by both countries they'll not be enforced. Its likely that the Presidents will rein in their officials and admonish them to negotiate .

 

[mukk_in]

Update:

The President has just assured Republican lawmakers, many of them concerned with the midterms and the impact of tariffs on farmers and metal workers in their districts, that a trade war with China will be averted. He again termed President Xi's speech as "great" and that his counterpart will cut tariffs and taxes across the board for American goods and services. Now as soon as NAFTA gets re-negotiated (probably in the next couple of months), we can all breathe easy. Things are moving fast and in the right direction. Praise God .

 

[mukk_in]

Update:

Media reports suggest that China announced today that it'll lift all investment caps on auto manufacturers by 2022. This is a huge positive for big companies like Ford, and GM. Currently, investment is capped at 50%. This is also the first time that China has actually announced a timeline for implementing auto reforms. "Art of the deal" is working. Good for auto workers, investors and the Chinese people. Praise the Lord .

 

[mukk_in]

Update:
CNBC is reporting that NAFTA deal may be concluded in three weeks. Great news for all Americans and investors. Fair trade, at last. Praise the Lord and prayers for the President and his team.

 

[mukk_in]

Sorry, duplicate.

 

[mukk_in]

Update:

CNBC is reporting that Treasury secretary Steven Mnuchin may be headed to China (as I was expecting) for direct negotiations on trade issues. This could be the first major thaw in a contentious battle. Praise God for averting a trade war. May God bless the American farmers, workers, consumers and all Americans, and us investors as well.

 

[mukk_in]

Update:

Bloomberg is reporting that the President will be sending Treasury Secretary Steven Mnuchin to China "in days". Praise the Lord that the ball is finally rolling on easing trade tensions. Few days back CNBC quoted the Mexican Finance Minister as saying that renegotiated NAFTA could be signed soon (before the elections there in July). Praying that the American people and we investors will get a fair deal .

 

[Bobber]

I'm Canadian but I do have an appreciation for President Trump. NAFTA is coming up so we'll see what's agreed to. Give and take on both sides in a fair way is my hope. I've studies very much about American Presidents...My hobby I guess. Some have compared Trump to Andrew Jackson but I'd say not....He's very much in policy like President William McKinley in his ideas nationalism, and tariffs was a major thing he wanted to do you might say to make America Great Again. Same concepts...same ideas. According to wiki it's said his Presidency was generally considered above average.

 

[mukk_in]

Update:

Fox Business News is reporting that Treasury Secretary Steven Mnuchin is cautiously optimistic about resolving trade issues with China, including violation of IP rights, forced technology transfers, and theft of IP. Earlier, it was reported that Commerce Secretary Wilbur Ross and WH Chief Economic Adviser Larry Kudlow will be accompanying the Secretary. Praying that the outcome would be favorable to all involved, especially to the American people and us investors .

 

[mukk_in]

Update:
CNBC is reporting that the President has extended the deadline for imposing steel and aluminum tariffs for allies (the EU and Canada. Australia is already exempt) and Mexico by another month. Tariffs would have gone into effect today. This was a wise decision as many of these nations are NATO members and part of a crucial security and counter-terrorism alliance. Praying that the Lord will continue to grant the President wisdom in the future.

 

[mukk_in]

Update:

CNN Money is reporting that the top economic adviser to the Chinese President will be leading a delegation next week to further the stalled trade negotiations (Treasury Secretary Steven Mnuchin and team haven't had much success last week). The White House has confirmed this schedule and is "working on a deal that'll be great for everybody." Praying for good things .

 

[mukk_in]

Update:

Wall Street Journal is reporting that the Chinese trade negotiators will offer to import (buy) more American products (I'm assuming cars, heavy equipment, machinery, planes and possibly high tech - assumptions based on previous reports) during their negotiations next week with the government. That'll certainly create and support more US jobs and ease trade tensions. Praise the Lord .

 

[mukk_in]

Update:
CNBC is reporting that the President is considering relaxing the restrictions on selling high-tech equipment to the Chinese Telecom company ZTE due to "significant loss of jobs in China. " If the reports are accurate, this could be a significant policy shift and encourage the Chinese to make concessions when trade negotiations restart next week. In return, per Bloomberg, the Chinese government is said to have re-initiated the takeover of NXP semiconductors NV by Qualcomm (US). Praise the Lord.

 

[mukk_in]

Update:

CNBC is reporting that China may eliminate tariffs on US agricultural products (soyabeans, barley, etc.) in return for allowing ZTE to buy US electronic hardware. Sounds like a good deal to me, and an immense relief to the farmers. When the Lord is on our side, we're invincible! Praise God .

 

[mukk_in]

Update:

Bloomberg is reporting that an administration source claimed that the Chinese Vice Premier offered to cut the trade deficit by $200 billion. This was one of the key demands made by Treasury Secretary Steven Mnuchin during his visit to Beijing. The US response is awaited (and now both Bloomberg and CNBC are reporting that the Chinese commerce ministry has denied these reports), but if true, this is certainly both credit and trade positive. CNBC is also reporting that China has stopped investigating US dumping of sorghum. Praise the Lord .

PS: Links - China says it hasn't offered Trump a $200 billion trade surplus cut.
The Bloomberg link has been disabled, but one could still google key words "China offers to cut trade deficit by $200 billion" to view the article.

 

[mukk_in]

Update:
CNBC is reporting that White House Economic Adviser Larry Kudlow is optimistic that a trade deal with China, even if it's time consuming, will eventually happen. He's reportedly said that China is meeting many of the US trade demands. This is certainly good news. Praise the Lord.