The Wall Street Journal reported that the deal could lead to a boost in U.S. exports to the Asian giant as well as a loosening of regulations that prevent or hamper U.S. firms from operating in China, people familiar with the negotiations said.
POTUS Donald Trump on Saturday tweeted that he and Chinese President Xi Jinping had made “great progress” in trade discussions, which are set to wrap up on March 1.
“Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas, and points of dispute,” he tweeted.
The WSJ noted further, however, that other people familiar with the talks say that the president could be overstating the progress. They said that POTUS is looking to calm jittery markets which have been declining in recent weeks, many say due to the Federal Reserve’s rate hikes.
The paper noted further:
If no deal is reached, U.S. tariffs on $200 billion of Chinese goods are due to increase to 25% from 10% on March 2, potentially having a big impact on electronics, furniture, machinery and other U.S. industries that rely on Chinese imports. It could also deepen a slowdown in China’s economy, which would have broad consequences for global growth.
A team of U.S. trade officials, including Deputy Trade Representative Jeffrey Gerrish and Treasury Undersecretary David Malpass is expected to travel to Beijing the week of Jan. 7 for several days of talks.
If progress is made, a Chinese delegation would...
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1 comment:
I laughed when so many, even on the "right", believed Trump was wrong on this. I realized China had one single option and Trump knew it. I only worried that Trump's hand would be forced by the traitors in other offices before China was forced to surrender. That has to financially hurt a lot of deep state and congressional traitors. Woot!
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