BREAKING: China Agrees to Trump's Trade Deal 8 theblacksphere
According to Reuters, the Chinese see the writing on the wall, and decided it’s time to play ball with America. And on Trump’s terms:
Chinese President Xi Jinping promised on Monday to lower tariffs, broaden market access and import more from overseas at the start of a trade expo designed to demonstrate goodwill amid mounting frictions with the United States and others.
The Nov. 5-10 China International Import Expo, or CIIE, brings thousands of foreign companies together with Chinese buyers in a bid to demonstrate the importing potential of the world’s second-biggest economy.
In a speech that largely echoed previous promises, Xi said China would accelerate opening of the education, telecommunications and cultural sectors, while protecting foreign companies’ interests and punishing violations of intellectual property rights.
Put simply: President Trump negotiated the art of the deal.The outcome: America got everything we wanted.
The article continues,
He also said he expects China to import $30 trillion worth of goods and $10 trillion worth of services in the next 15 years. Last year, Xi estimated that China would import $24 trillion worth of goods over the coming 15 years.
You can bet America will get a huge portion of that $40 trillion in Chinese imports, thanks to President Trump. Certainly the revision of $6 trillion more Chinese imports has to do with America’s new and much improved trade policy.
So now what will Democrats say now?
China blinked in the trade war, so the $375 billion annual deficit will shrink dramatically. Pulling that much money back into the economy year over year is a huge gain.
The same is true for Mexico and Canada, our North American trading partners.
Finally, Trump has negotiated with South Korea, biting into that significant deficit.
To quote President Trump: so much winning!
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