Is it a huge major step in the right direction. What exactly did the last 4 presidents do? Trump was able to get them to the table, he didn't get everything he wanted but left tariffs in place that long term hurt China much more the the US. Here is something people on the left might not have seen.
Tariffs hurt China....haha who paid the tariffs? Please dont tell me you believe China paid tariffs on imports. I deal with some areas involving Chinese imports and the IMPORTER pays the tariffs. Not to mention the billions in subsidies the US paid to affected farmers, US taxpayers paid so much for this tariff war including you and I. Doesn't feel like winning...
''Don't know that gentleman , never met him , don't know what he does , don't know anything about him , it's possible i have a picture with him . . . . . i have pictures with thousands and thousands of people , it's all a hoax , folks.''
Trump Wins Round One of the U.S.-China Trade War The U.S. president emerges with the economy intact and his credibility enhanced. By Tyler Cowen January 15, 2020, 3:02 PM EST Not tired of winning. Photographer: SAUL LOEB/AFP Read more opinionFollow @tylercowen on Twitter COMMENTS LISTEN TO ARTICLE 3:58 SHARE THIS ARTICLE Share Tweet Post Email It is too early to give a final assessment of the U.S.-China trade deal, the details of which have just been published, but it’s not too soon for a provisional opinion: China is badly shaken, and American credibility has been greatly enhanced. Some parts of the deal probably won’t matter much. First, taking away the currency manipulation charge is a non-event, and to the extent China was manipulating its currency it was keeping it up, not down. Second, it is fine that China agreed to respect more intellectual property rights, but that can be hard to enforce and in any case China has been headed in that direction. Third, it is good that China is opening further to U.S. financial services, but that is a marginal change. In general, I am suspicious of detailed agreements when one of the parties claims the other does not respect the terms of their deals, as the U.S. does with China. If the U.S. holds up its end of the bargain and China doesn’t, you have to wonder what all the trouble was about. So what about the potential benefits for the U.S.? Most of them concern credibility. The U.S. has established its seriousness as a counterweight to China, something lacking since it largely overlooked China’s various territorial encroachments in the 2010s. Whether in economics or foreign policy, China now can expect the U.S. to push back — a very different calculus. At a time when there is tension in North Korea, Hong Kong, Taiwan and the South China Sea, that is potentially a significant gain. President Donald Trump’s tariffs did hurt U.S. consumers, and while that is indeed an economic cost of the deal, it is also a credibility benefit. It shows that the U.S. is in fact willing to incur some pain to oppose China, contrary to the common Chinese view that Americans are “soft.” U.S. credibility has also been improved among its allies and some neutral nations. A case in point: Currently the U.S. is working hard to keep Huawei equipment out of the forthcoming 5G networks in many countries. (Imagine letting the KGB run the American phone network in say 1980, and you can see what is at stake here.) For that campaign to succeed, even partially, the U.S. needs some credible threats of punishment, such as withholding intelligence or even defense protection from allies. The course of the trade war has made those threats more plausible. If you are Germany, and you see that the U.S. has been willing to confront the economic and military power of China directly, you will think twice about letting Huawei into your network. keeping $360 billion of tariffs on Chinese goods, hardly a propitious sign that China made a great bargain. There is even speculation that China will not report the full deal to its citizens. It is entirely fair to point out, as many do, that this trade war does not benefit America directly (e.g., tariffs are mostly bad). But the point remains that China, and Xi in particular, have been shown to be vulnerable. Many Chinese may now question whether ever-greater authoritarianism is the best path forward. It is a common argument that being tough with other countries strengthens the hard-liners in those countries. But in China the hard-liners had been growing in power and influence anyway. This trade war, and the resulting first phase of a trade deal, shows there is a cost to China for being so hard-line. It is too soon to judge the current trade deal a success from an American point of view. Nevertheless, its potential benefits remain underappreciated, and there is a good chance they will pay off. This column does not necessarily reflect the opinion of Bloomberg LP and its owners. To contact the author of this story: Tyler Cowen at tcowen2@bloomberg.net To contact the editor responsible for this story: Michael Newman at mnewman43@bloomberg.net
You just cited an opinion article... the only way to do better at trade (You don't win trade wars) is for China to change their style of merging government and economy. Japan took many years and it was not through trade deals though we tried real hard to open their market to our products (except for beer and fast food, they just don't have a real taste for our shit). The market opened more mainly when the government stopped manipulating the economy and picking and choosing winners and protecting new industries from competition. What happened is they had to because of other countries competing better and their consumer class growing to a driving sector of the economy where imports were needed to fuel this demand. Of course most of those imports come from China and Korea because they make better shit. Plain and simple, make better shit cheaper and you win, U.S. makes at best comparable shit and more expensive so why should they buy it just because politicians sign a bullshit piece of paper. Politicians fail at trade wars because they have zero understanding of some of the things I said above. Trump ran his own little business but he never operated a global economy and competed against people like China, Korea, Japan, Mexico etc. So when politicians pull their dick out to brag about some trade deal they signed that has no real enforcement or vague general terms, especially after U.S. taxpayers paid billions in tariffs and bailout money, I choose not to suck it.
A Truce is hardly a win. U.S. and China to Finally Sign a Trade War Truce, Trump Says https://fortune.com/2019/10/31/us-c...to-finally-sign-a-trade-war-truce-trump-says/