“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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