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China backtracked on almost all aspects of U.S. trade deal – sources

reuters.com

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Re: China backtracked on almost all aspects of U.S. trade deal – sources

#41

Post by mikeash »

ajmurmann wrote: post #22
Leary wrote: post #11

The most recent tweets by Trump regarding this: "The reason for the China pullback & attempted renegotiation of the Trade Deal is the sincere HOPE that they will be able to “negotiate” with Joe Biden or one of the very weak Democrats, and thereby continue to ripoff the United States (($500 Billion a year)) for years to come... Guess what, that’s not going to happen! China has just informed us that they (Vice-Premier)…

There are very real problems with how China treats foreign companies (intellectual theft, requirements to partner with Chinese companies and many more). I'm happy they get addressed. However, Trump completely misrepresents the problem and the impact of tariffs. The negotiations clearly are tackling the right issues, yet here he is talking about trade deficits as some kind of theft and tariffs as a straight up win lik…

He doesn’t get it. It’s obvious at this point that he’s just not very intelligent and makes it worse by putting in zero effort to understand.

Re: China backtracked on almost all aspects of U.S. trade deal – sources

#42

Post by 0xDEFC0DE »

rrggrr wrote: post #27
awinder wrote: post #13

Earlier quoted context omitted.

theres a lot of reasons for someone to look at both what and how trump is approaching this, and rationally come away less-than-enthused: 1. Poor execution & personnel at odds with each other leaking play-by-play details has led to a lot of market fluctuation and difficulty for the market to price in the "real world". Anyone exposed to this gets a first hand look at the monetary cost of this. 2. Real impacts of the ta…

The facts say differently: GDP growing around 3%. US net exports up about $55b. Unemployment 50 year low. Minority unemployment record low. Non-farm payrolls up by about 3%. Business confidence (Fed Ind Businesses) highest in 45 years. (sources) https://www.whitehouse.gov/trump-administration-accomplishme... https://www.cnbc.com/2018/09/07/how-trump-has-set-economic-g...

Don't forget that yield curve inversion

Re: China backtracked on almost all aspects of U.S. trade deal – sources

#43

Post by jtx22 »

rrggrr wrote: post #27
awinder wrote: post #13

Earlier quoted context omitted.

theres a lot of reasons for someone to look at both what and how trump is approaching this, and rationally come away less-than-enthused: 1. Poor execution & personnel at odds with each other leaking play-by-play details has led to a lot of market fluctuation and difficulty for the market to price in the "real world". Anyone exposed to this gets a first hand look at the monetary cost of this. 2. Real impacts of the ta…

The facts say differently: GDP growing around 3%. US net exports up about $55b. Unemployment 50 year low. Minority unemployment record low. Non-farm payrolls up by about 3%. Business confidence (Fed Ind Businesses) highest in 45 years. (sources) https://www.whitehouse.gov/trump-administration-accomplishme... https://www.cnbc.com/2018/09/07/how-trump-has-set-economic-g...

Indeed, good work by the Trump admin. here.

Re: China backtracked on almost all aspects of U.S. trade deal – sources

#44

Post by spectramax »

CWuestefeld wrote: post #24

Related to this and the censorship story already on the front page: China is censoring internal news about these trade controversies. From family over there I know that the general public isn't seeing this on TV or anything. And even messages on WeChat are being taken down (my wife has had several private postings removed)

I don’t know why and I am not a Chinese citizen but this kind of thing bothers me deeply. I hope Streisand effect takes over China in a self-propelling feedback loop until this whole show comes crashing down. People of China deserve better (once they’re a solid middle class and taken out of poverty).

Re: China backtracked on almost all aspects of U.S. trade deal – sources

#45

Post by mikeash »

rrggrr wrote: post #27
awinder wrote: post #13

Earlier quoted context omitted.

theres a lot of reasons for someone to look at both what and how trump is approaching this, and rationally come away less-than-enthused: 1. Poor execution & personnel at odds with each other leaking play-by-play details has led to a lot of market fluctuation and difficulty for the market to price in the "real world". Anyone exposed to this gets a first hand look at the monetary cost of this. 2. Real impacts of the ta…

The facts say differently: GDP growing around 3%. US net exports up about $55b. Unemployment 50 year low. Minority unemployment record low. Non-farm payrolls up by about 3%. Business confidence (Fed Ind Businesses) highest in 45 years. (sources) https://www.whitehouse.gov/trump-administration-accomplishme... https://www.cnbc.com/2018/09/07/how-trump-has-set-economic-g...

Continuing the trends of the last decade.

Re: China backtracked on almost all aspects of U.S. trade deal – sources

#46

Post by jtx22 »

youarewrongstfu wrote: post #39
HillaryBriss wrote: post #9

Earlier quoted context omitted.

there are some narrow interests that favor Trump tariffs. e.g. the United Steelworkers Union: "China ... dumps its excess aluminum and steel on the world market at super-discounted prices. The United States, in conjunction with European allies and others, has repeatedly over the past decade negotiated with China to stop defying the rules it agreed to abide by when it gained entrance to the World Trade Organization in…

So the steelworkers, whose income relies on American production of steel, is butthurt because someone else makes steel. Again. Still. This is not new. The steelworkers have been bitching about everyone and everything basically since Japan started making cars that weren't shit and releasing them in the US market. Adapt or die.

You're well on your way to dying.

Re: China backtracked on almost all aspects of U.S. trade deal – sources

#47

Post by padobson »

ajmurmann wrote: post #22
Leary wrote: post #11

The most recent tweets by Trump regarding this: "The reason for the China pullback & attempted renegotiation of the Trade Deal is the sincere HOPE that they will be able to “negotiate” with Joe Biden or one of the very weak Democrats, and thereby continue to ripoff the United States (($500 Billion a year)) for years to come... Guess what, that’s not going to happen! China has just informed us that they (Vice-Premier)…

There are very real problems with how China treats foreign companies (intellectual theft, requirements to partner with Chinese companies and many more). I'm happy they get addressed. However, Trump completely misrepresents the problem and the impact of tariffs. The negotiations clearly are tackling the right issues, yet here he is talking about trade deficits as some kind of theft and tariffs as a straight up win lik…

Does his understanding matter? If Mnuchin and Lighthizer are hitting all the right notes in the negotiation, does it matter if Trump understands any of it? Let him bluster and take credit for Mnuchin and Lighthizer's good work.

Re: China backtracked on almost all aspects of U.S. trade deal – sources

#48

Post by Spooky23 »

rrggrr wrote: post #17

I suspect Xi wants this dispute to continue for internal Chinese reasons. The tariffs impact different sectors and regions in China differently. It may be continued tariffs are reducing overcapacity in a manner that allows Xi to save face internally. It could be the tarrifs are breaking the back of powerful exporting provinces (eg. Jiagnsu) and helping Xi consolidate power. It may also be the case that things need to…

This is a feature of the US administration's approach to negotiation, driven by various motivations. China is not without leverage, and the US will blink first.

Re: China backtracked on almost all aspects of U.S. trade deal – sources

#49

Post by mistermann »

dilyevsky wrote: post #38
ajmurmann wrote: post #22

Earlier quoted context omitted.

There are very real problems with how China treats foreign companies (intellectual theft, requirements to partner with Chinese companies and many more). I'm happy they get addressed. However, Trump completely misrepresents the problem and the impact of tariffs. The negotiations clearly are tackling the right issues, yet here he is talking about trade deficits as some kind of theft and tariffs as a straight up win lik…

“Trade deficit” is what his voter base “understands” and it sounds scary so it would make sense to peddle this to them even though it has nothing to do with real issues. But then again it’s trump so who the fuck knows why he does it...

> “Trade deficit” is what his voter base “understands” and it sounds scary so it would make sense to peddle this to them even though it has nothing to do with real issues.

I assume you implicitly are saying that they also don't understand the harm a trade war also does to the American economy? Regardless....out of curiosity, how did you come to know the details of what Trump's base thinks at such a detailed level?

edit: Also out of curiosity, why would someone downvote this? Does it not seem like a perfectly fair question (if you set your politics aside and think about it logically, something that used to be the overwhelming norm on HN)?

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