“China called last night our top trade people and said ‘let’s get back to the table’ so we will be getting back to the table and I think they want to do something. They have been hurt very badly but they understand this is the right thing to do and I have great respect for it. This is a very positive development for the world,” Trump said.
“I think we are going to have a deal,” he added. “They have supply chains that are unbelievably intricate and people are all leaving and they are going to other countries, including the United States by the way, we are going to get a lot of them too.”
He repeated those sentiments in a news conference later in the day with French President Emmanuel Macron, saying, “I believe they wan to do a deal,” later adding, “I’m not sure they have a choice.”
Stocks rose after the Trump-Macron appearance, pushing the Dow up more than 200 points by around 11:20 a.m. ET.
- President Donald Trump said Monday that China had contacted U.S. trade officials overnight to say they wanted to return to the negotiating table.
- Before leaving for the G-7, Trump said he would raise existing duties on $250 billion in Chinese products to 30% from 25% on Oct. 1. Additionally, he said, tariffs on another $300 billion of Chinese goods, which start to take effect on Sept. 1, will now be 15% instead of 10%.
America First: China Blinks Under Trump-Imposed Tariffs
By American Liberty Report, August 26, 2019:
Communist China is getting a large serving of American toughness as President Donald Trump unleashes the full economic weight of the U.S. on its criminal trade enterprises.
For upwards of 30 years, China has stolen intellectual property, undercut American business, manipulated its currency, and wrongfully levied tariffs on U.S. goods. Washington’s elites such as ex-Vice President Joe Biden looked the other way as the Communist empire lined his family’s pockets with millions.
But President Trump doesn’t need their dirty money and has chosen to draw a line in the sand, once and for all. After the president recently upped the ante, again, on the trade war, China blinked.
“China called last night our top trade people and said ‘let’s get back to the table’ so we will be getting back to the table, and I think they want to do something. They have been hurt very badly, but they understand this is the right thing to do and I have great respect for it. This is a very positive development for the world,” Trump reportedly said.
“I think we are going to have a deal. They have supply chains that are unbelievably intricate, and people are all leaving, and they are going to other countries, including the United States, by the way, we are going to get a lot of them too.”
Yes, the Asian superpower knows full well it needs America far more than we need it. The recent call by President Trump for all American businesses to vacate the rival country broke their will to fight a protracted economic war.
“Every deal that the Chinese have signed up with us since their inception into the WTO since 2001, China never lives up to their promises,” Hayman Capital Management founder Kyle Bass reportedly said. “At some point in time, one of our administrative officials is going to hold their feet to the fire, and this is kind of a battle of cultures because the Communist Party doesn’t want to submit themselves to anything measurable or enforceable.”
The pressure exerted by the Trump Administration has resulted in top corporations already pulling their operations out of China. Outfits such as HP, Dell, Microsoft, Amazon, and the gem of all electronics manufacturers, Apple, are shifting production to other countries. The world in international trade circles is that China is now “desperate” to make a deal and cuts its losses.
As a result of the unwavering commitment to resolve the unfair trade imbalance and stop China’s unethical and illegal practices, the Yuan recently plummeted to its weakest level in more than a decade. Economists believe that if China were forced to end its currency manipulation practices, the Yuan’s value would decline by upwards of 40 percent. The Trump Administration has taken the bold step to label China a “currency manipulator.”
When President Trump recently tweeted that U.S. corporations were ordered to “start looking for an alternative to China,” the Communist’s bluster and big talk evaporated. That’s largely because the two economies are heading in opposite directions in this trade fight. America is winning, big league.
“Our economy is phenomenal, best it has ever been, and that’s despite the trade deals. When we get these deals done, our country will be transformed. It will be monetarily transformed. It is such a difference from the horrible, horrible one-sided deals that we had in the past. And frankly, past administrations should be ashamed of themselves for allowing that,” Trump reportedly said.
The president’s optimism about the U.S. economy is fully warranted. Unemployment remains below 4 percent, and wages are rising. Far fewer American are relying on welfare programs, and China is doling out billions in tariffs to help fund the U.S. government.
“I think they want to make a deal much more than I do. I’m getting a lot of money in tariffs. It’s coming in by the billions. We’ve never gotten 10 cents from China, so we will see what happens,” President Trump said.
“(China’s) vice-chairman put out a statement last night that was a statement and saying that he wants to make a deal, and he wants calm.”
The calm China’s Communist Party is referring to is not necessarily hostilities between the two world’s largest economies. Rather, the calm is the fact that China’s GDP has slumped to its lowest level in 27 years. Its exports to the U.S. dropped by more than 8 percent through the first half of 2019 as a result of President Trump standing his ground. Yes, China blinked and woke up to the fact that America won’t be ripped off any longer.
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I still wonder what’s going to happen in Hong Kong. Invasion by the PLA followed by the mass disappearance of dissidents into the PRC’s “justice” system? I just wish I could get a phone or computer not built/manufactured in the surveillance state that is the PRC.
It’s an internal matter. A Chinese problem that needs to be solved by the Chinese. Had we not sold out our ally, the ROC, many years ago, perhaps this would not be happening.
Just as the Confederate States of America was crushed by military might, Hong Kong likely faces the same fate.
Apparently everyone male has to serve in the Taiwanese defense forces for some period of time. One Taiwanese guy assured me that if the Chinese Communist Tiger invaded Taiwan the Three Gorges dam would be destroyed. I’m surprised the ROK, Taiwan, Myanmar, Thailand and JP don’t have some sort of military alliance, considering they all face many of the same enemies in Asia.
You can be sure, all concerned are carefully watching Hong Kong. — How will its heroic struggle against the “Claws” of Tyrannical Power end?
As AM has pointed out it won’t end in freedom, but bloody, red, Communist tyranny.
Actually, many are concerned over the actions of Japan … You’d think that WWII would have taught them something. But, follow their actions. Even my wife has pointed this out.
The Chinese Tiger is many times the military threat of JP. I’m not sure that JP’s current military could even take on the Indonesian pigs.
Sure would be nice to use tariffs to pay for the wall. An ocean container full (51,151 lbs.) of Fentanyl was seized while unloading at a port in Mexico. Shanghai to Mexico. Guess where it would have ended up? China, despite what Biden says, is NOT our friend.
They’re Biden’s friend and he’s got the secret offshore bank accounts stuffed with Yuans to prove it!
So does McConnell. Did you inlaws give you 5 million just because they felt like it because business was so great?
GLOBAL SHIPPING BUSINESS TIED TO MITCH MCCONNELL, SECRETARY ELAINE CHAO SHROUDED IN OFFSHORE TAX HAVEN
Lee Fang, Spencer Woodman
February 5 2018, 6:00 a.m
…
McConnell married Chao, the daughter of shipping magnate James Si-Cheng Chao, in 1993. James Chao fled the civil war in China to arrive in Taiwan, and shortly thereafter immigrated to the United States, where he began his building an international shipping business. Thanks to the Foremost Group, McConnell and Elaine Chao, one of Washington’s most politically powerful couples, are also estimated to be millionaires many times over. Though Chao has never played a leadership role in the company, her father gave the couple a gift of between $5 million and $25 million in 2008, according to Politico. McConnell’s net worth was about $26.7 million in 2016, according to a Center for Responsive Politics estimate.
The Chao family’s use of offshore structures came to light in 2014 when The Nation reported that the family business had routed ownership of its cargo ships through a series of opaque registrations in Liberia and the Marshall Islands. The Foremost Group fleet consists primarily of dry-bulk cargo ships carrying commodities, including coal, to ports around the world.
….
https://theintercept.com/2018/02/05/mitch-mcconnell-elaine-chao-offshore-paradise-papers/
Ever work for an American Fortune 100 corporation? …
You sign a raft of NDAs in quadruplicate and promise the company every idea in your head even unto the fourth generation …
Then – if you’re top performer – aka ‘Loser’ – you found yourself training Chinese engineers over and over again … cause the Chinese demanded all of your employer’s IP, trade secrets, tech, training, procedures, policies, and access to top employees – aka ‘Losers’ – to train their employees … along with a promise that they will steal everything and hand it over to their cronies…
And your management lined up to lick their boots …
And then your company went bankrupt after the C-level management team cashed billions in stock options …
And since the younger generation has never experienced anything else – they think that’s capitalism
… that’s sort of why young, bright, STEM grads, totally uneducated in history, economics, or any of the humanities have no idea why socialism is bad …
They see those Chinese ‘slave’ engineers living a lifestyle they will never afford, and they think it’s cool.
Just sayin’
I worked for a Fortune 500 company and the problem there wasn’t anyone from China but f’ing muslums. There was a division headed by a lying muslum VP and literally all the managers were muslums and some 25% of the drones and the percentage of muslum drones only increased while I was there. It had already come to be known as the Dearbornistan division some ten years ago.
Sorry to hear that, but I’m not surprised. I’ve been fortunate not to have to work closely with Muzzies, but I’ve heard many horror stories. (Up to and including a massacre on an off-shore rig off the Nigerian coast. We knew engineers who had colleagues and friends on that rig…)
… Sorry for the tardy reply, but I’ve been busy …
Yes, we’re being overrun by PC, enemedia, affirmative action, and all the rest … but folks often overlook the insidious infiltration of the management staff, the effect of mysterious investments from foreign sources …
Not to mention the C-level can drive a ‘publicly traded corporation’ into the ground, turn it into a criminal gang, commit espionage, and other nefarious uses … and face absolutely no consequences.
Meanwhile a small business has to close its doors if it can’t meet some ridiculous regulation cooked up by an NGO funded its foreign competition…
You and yours have a wonderful weekend MMFP!
Criminal enterprise of a Mafia-like “mercantile state”, Red China calls America back to the table of high stakes. Where sits red-garbed card-shark: “person who uses skill and/or deception to win at poker”. Or “cheats”! Mr. Trump is not one to be swindled out of sundry wealth, as predecessors were.
Mr. Bannon, of September premiering Claws of the Red Dragon, stated this is not a Trade War — but economic war, waged by Mainland-occupying Red Communist regime, which surveils, persecutes and enslaves its oppressed hard-working people! — One can never trust a Crime Syndicate.
Adversary has gutted America’s manufacturing heartland (surrendered thereto?), same areas opioids devastatingly flooded! * Extent is shocking: monumental human tragedy. (One source Mr. Bannon, other — *)
How do you negotiate with predatory Gangster State? All it knows is deceit — and the Enforcer’s IRON FIST. — Tiananmen Square style. Its said to be a “a paper tiger”, precariously propped-up economically. “House of cards”, also described financially.
Dragon-House of Plunder — Certainly!
“Desperate” criminal enterprise, 21-Century weapons armed (copyright-theft “Made in U.S.A.” funded R & D, and wider pillaged West?), potentially dangerous — allied to Putin’s brutal Russia.
* Here is Fresh Air link: —- >
https://www.npr.org/2019/08/22/753416002/tracing-the-course-of-the-opioid-epidemic
* Recent The Epoch Times story, adds dark alarming dimension. Sinister work of allied enemies, I’d say! —- >
It’s a war on economic and military dominance.
Trump is not an Obama. It was always a win win situation for the U.S…. It just took guts to stand tall.
China’s economy is based on EXPORTING and the U.S. is their largest buyer and without the U.S. THEIR market collapses. Devaluing their currency has it’s limits too – you can only do that for so long. Trump knew this all along…
The Leverage of Dependency – Chinese Manufacturers Admit Without U.S. Market They Collapse…
Posted on August 27, 2019 by sundance
An interesting article in the South China Morning Post (SCMP) outlines how Chinese companies producing everything from canned mandarin oranges, to mid and high-tier furniture, cannot sustain a business model without access to the U.S. market.
Their problem?…
In essence, when they established their decades-old business model the overwhelming majority of their manufacturing was/is contingent on U.S. buyers.
Right now those Chinese companies are praying the CCP (Communist Chinese Party) keeps devaluing their currency, because U.S. purchasers, including wholesalers and intermediaries, have told those manufacturers they will not pay the import duties.
Apparently, U.S. corporate buyers are leveraging the pressure applied by President Trump – a remarkable dynamic.
…
(SCMP) […] “The US client called us last weekend and asked us to pay the additional tariff of 5 per cent. We could not refuse since it was our idea to bid to supply the canned fruit for the supermarkets,” she said. “We have no way to deal with it now. We only hope that the yuan will depreciate in the coming weeks and offset the new tariff. Otherwise, we will lose a lot [of money] on this order.”
If the yuan does not further depreciate by more than 5 per cent, she added, the company will have no choice but to cease exports to the US after October 1.
Exporters have been left blindsided after the US said on Friday that it would raise the tariff rate on US$250 billion of Chinese imports from 25 per cent to 30 per cent from October 1, and raise the planned new tariff rate on US$300 billion of goods from 10 per cent to 15 per cent in two tranches on September 1 and December 15.
This was in response to China’s move earlier on Friday to impose retaliatory tariffs of between 5 and 10 per cent on US$75 billion worth of American products, including soybeans, pork, and, for the first time, crude oil. China also reinstated the 25 per cent penalty duty on imports of US-made cars and car parts, bringing the total tariff on the sector to 40 per cent.
[…] “In the case of medium-and high-end furniture, even with the addition of tariffs, it is still impossible to find substitute markets for our products,” said Xie Jun, a furniture exporter in Haining, a city in Zhejiang province where hundreds of furniture factories make goods for export to the US.
[…] “For Chinese exporters, it is useless to be afraid because there is nowhere to hide. We can only rely on the wisdom and countermeasures of the central government,” he said, adding that as long as Beijing can maintain employment levels and prevent the housing market from collapsing, “we are not afraid”. (read more)
https://www.scmp.com/economy/china-economy/article/3024557/china-exporters-praying-weaker-yuan-will-save-them-donald
The theft of intellectual property by China is estimated to be in excess of $3 TRILLION dollars.It has been called the largest theft in history and it is continuing to this very day. There have been numerous cases of theft,spying and sabotage by identified Chinese agents. There is no doubt that many of the tens of thousands of Chinese “students” in the US universities are gents of the Chinese government.
Now,to learn that Google is infiltrated and transferring military grade artificial intelligence technology to the Chinese is beyond horrifying. Trump must step in immediately. Peter Thiel knows of what he speaks. There is little doubt he is correct., The U.S. Government must seize Google and its subsidiaries immediately,place them under a trustee and root out the traitors and stop the transfer of technology and know-how to the Chinese, and this must be done IMMEDIATELY!!!
From your lips to God’s ear.
Lest we forget the brave and courageous people of Hong Kong who refuse to submit to ChiCom tyranny and are in the streets every day protesting the ChiComs encroachments on their hard-won “special status.” China fears that this protest could overflow its borders into China proper and crush the ChiCom regime under a tsunami of revolt. Trump is just not only winning for America but for the Chinese people as well. Trump is the greatest leader in the world. By making America great again he is helping all people to become free and prosperous.
China has stolen enough of America’s INTELLECTUAL PROPERTIES. Time to END their THEFT. IF China wants to trade with America, lower the tariffs to $0.00 and remove all of the trade restrictions. Only tax the companies that are mainly funded by the Chinese government – – like: DRUGS, STEEL, ALUMINUM, etc.