Trump Folds: Will Cancel New China Tariffs, Offers To Cut Existing Tariffs By 50% In Exchange For Pledges
So what does Trump get in return for folding like a cheap chair? Why pledges to buy more agri products, pledges which apparently are not even enforceable as they are merely “firm commitments”, in other words taking China for its word:
According to the WSJ, the tariff-reduction offer was made in the past five days or so, and in exchange, the U.S. side has demanded that Beijing make firm commitments to purchase large quantities of U.S. agricultural and other products, to better protect U.S. intellectual-property rights and to allow greater access to China’s financial-services sector. Just one problem: this is where China balked in the past when told to make an uinbreakable pledge, and this time was no different. Curiously, a mere pledge was enough for Trump this time. That said, as the WSJ adds, “should China not carry out its pledges as part of the potential deal, the tariff rates would return to their original levels, a clause known in trade negotiations as a “snapback” provision.”
Sure enough, according to the report, “Chinese negotiators have balked at Washington’s request that Beijing guarantee its pledge to buy more U.S. soybeans, poultry and other products, saying doing so would run counter to the rules of the World Trade Organization.”
In any event, some sort of “deal”, in which the US gets a promise from China to buy more pork – which it desperately needs anyway thanks to its pig hyperinflation – is now virtually certain: “Trade teams from both sides are maintaining close communications,” Gao Feng, spokesman at China’s Commerce Ministry, said at a news briefing Thursday. He didn’t provide any additional information.
Source: http://coyoteprime-runningcauseicantfly.blogspot.com/2019/12/trump-folds-will-cancel-new-china.html
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fake news,bullshett–you should go work for cnn you lying maggot–china has dropped an equal amount of tariffs–thats all trump wanted–an equal playing field–no tariffs in china,no tariffs in the usa—its simple you stupid lying fool tyler dumshett