Trade victory for the President?

[mukk_in]

Update:

Bloomberg is reporting that the Chinese administration has agreed to significantly increase imports of American agricultural and energy products. Both sides have agreed to stop "tariff slapping" and avert a trade war. Although, neither side has officially put out a number Chief Economic Adviser Larry Ludlow was reported as saying that the trade deficit would be cut by at least $200 billion. White House will be sending a trade delegation soon to work on the specifics. Congratulations to the President and his team, and praise the Lord for averting a very expensive trade war .

 

[mukk_in]

Update:
Treasury Secretary Steven Mnuchin has told Fox News that "trade war is on hold" till both sides work out an agreement. Praise the Lord.

 

[mukk_in]

CNBC and Bloomberg are reporting that China has cut import tariffs on certain cars to 15% from 25%, and on automotive parts to 6%. These changes will be effective from July 1. This will help US automakers like Ford, GM and Tesla. Good things happening, finally. Praise God .

 

[mukk_in]

CNBC is reporting that Commerce Secretary Wilbur Ross has announced that the US has reached a settlement with ZTE of China at 6:00 AM today and that issue has now been closed. Praise the Lord.

 

[mukk_in]

The President has instructed US representatives to not sign or back the joint G-7 statement. Many were shocked by this, but I was actually expecting it. Allies, for a long time, have been using the US as a cash cow or "piggy bank. " National security and global peace have always been cited by past Presidents to back such policies which were mostly (if not totally) one-sided. I also pray for a successful summit between the President and his North Korean counterpart.

 

[mukk_in]

Sorry, duplicate post.

 

[mukk_in]

CNBC is reporting that the President is working with the Senate to block a bill that'll oppose the President's lifeline to end the ban on the Chinese telecom firm ZTE. The President prefers the house version of the bill and doesn't want to complicate the trade dispute with China. ZTE has already been fined $1 billion by the Commerce department. I'll have to side with the President on this issue. No point in aggravating an already tense trade dispute with China .

 

[mukk_in]

CNBC is reporting that the US Ambassador to Germany and German automakers are considering dropping the tariffs that Germany is currently levying on US automobiles. In return Germany wants all US tariffs on German automobiles, including SUVs, trucks and buses to be dropped as well. Currently, the EU is getting ready to levy 25% tariffs on $3.5B worth of US goods in retaliation to the President's tariffs on their steel and aluminum. Amid all the trade turmoil, this is certainly a ray of sunshine.

 

[mukk_in]

Commerce Secretary Wilbur Ross has gone on record saying that the President's ultimate goal is for reduced tariffs and free trade. From that perspective, it's obvious as to why the President is putting pressure on trading partners via tariffs. His goal is to bring them to the negotiating table. I pray that the Lord will bless his good intentions.

 

[mukk_in]

CNBC is reporting that the President wants to pull the US out of the WTO. May not be a bad idea. Bilateral deals may be better.

 

[mukk_in]

Commerce Secretary Wilbur Ross said today that there was no market level (market drop) that would cause the President to change his trade policy. I have to admire the President's resoluteness. Markets may be in for some rough times, but this should eventually play itself out. I've seen that with the currency ban/demonetization move of the Indian PM.

 

[mukk_in]

The US government is requesting the FCC to block the application of China Mobile and prevent it from providing communication services on security grounds. I'm a free trader, but this is probably a good move. China has long been suspected of using high tech (including Made in China cell phones of all major brands) for spying including corporate IP theft.

 

[mukk_in]

New York Times is reporting that the President is demanding that NATO allies pay their fair share of defense spending. Between this and their exorbitant tariffs, I must say that the allies had been milking the US for some time now .

 

[ubicaritas]

I can see the Flyover Country Republicans are beginning to twist Trump's arm on trade, and they are worried about re-election. But I'm unconvinced this represents a change in Trump's orientation towards economic and political isolation of the US.

 

[ubicaritas]

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.

McKinley got us into an immoral war in the Philipines based on jingoism and Protestant colonialism, going well beyond our Monroe Doctrine assigning US hegemony to the western hemisphere and Americas. That doesn't bode well if your comparison to Trump is accurate.

 

[mukk_in]

CNN Money is reporting that the Commerce Department is allowing Chinese Telcom company ZTE to partially restart some of its businesses. Most of the ban is still in place. ZTE has recently shaken up its top management in compliance with one of the major US demands.

 

[mukk_in]

Financial Times is reporting that the European Union (EU) is considering negotiations with the US, South Korea and Japan for lowering automobile tariffs. It seems that the President's pressure tactics are working.

 

[mukk_in]

"Zero-solution": That's the term being reported by Marketwatch (WSJ) as the official US response to EU negotiations on automobile tariffs. Simply put, the US will stop threatening tough auto-tariffs if the EU drops all tariffs on US automobiles. GM and Ford are up premarket. Sounds fair to me.

 

[mukk_in]

The President is threatening to impose tariffs on up to $500 billion worth of Chinese imports. The trade war has begun, but I'm glad that we finally have a President who's willing to stand up to Chinese trade bullying. As an investor, I'm betting that the Chinese will blink first (just as the DPRK had after the President's "fire and fury" speech). May the Lord assist the administration in this and grant relief to the farmers (who're hurting but vowed to be faithful to the President).

 

[mukk_in]

Fox Business News is reporting that US Ambassador to Germany Ric Grenell is negotiating with German lawmakers to lower tariffs on US automobiles. Good news keeps rolling in. Praise the Lord .