Posted on 10/14/2019 5:45:47 AM PDT by RummyChick
U.S. stock index futures fell Monday after Bloomberg reported China said it needed to have further discussions before it would sign off on the so-called phase one trade deal U.S. President Donald Trump touted on Friday
Around 7 a.m. ET, Dow Jones Industrial Average futures traded down 87 points, pointing to a loss of about 80 points at the open. Dow futures briefly dropped more than 100 points. S&P 500 and Nasdaq 100 futures indicated a lower open as well.
Futures were marginally higher earlier in the session before taking a leg lower on the Bloomberg report.
The report, which cites people familiar with the matter, said Chinese Vice Premier Liu He may lead a delegation as soon as month’s end to iron out the details of “phase one” before President Xi Jinping agrees to it.
China wants Trump to also scrap a planned tariff hike in December in addition to the hike scheduled for this week, the report added.
On Friday, President Trump announced that the first phase of a deal with China had been agreed, though officials on both sides said much more work needed to be done. The partial deal — which covers agriculture, currency and some aspects of intellectual property protections — represents the first step forward to end the trade war in 15 months.
(Excerpt) Read more at cnbc.com ...
Someone here brought up an interesting point. Trump is going to have to allow Chinese President to save face when making a deal
Well, if there’s no signed trade agreement, bump up the tariffs.
The problem dealing with China has always been that you can come to an agreement today, but tomorrow you have to start all over again. Like dems, their word means absolutely NOTHING.
I’d like to see Trump bump it to 35% instead of 30% and say, when we say deal it’s deal next time. We can now continue the talks
China is transparent in what they are doing! Delay & obfuscate until election day in 2020. There is a slim chance Trump may not run or be defeated, which is their hope.
Not just their hope. Their American Communist counterparts’ hope as well.
Exactly. We seem to be doing fine and the lying medias recession and inflation cries and claims have not materialized. How anyone can believe any of their BS is beyond me and hopefully this will lead to a Rep trifecta come the 2020 elections.
Agreed. Announce 35% will go into effect Jan 1 if deal is not signed. Say nothing more.
It's the only outcome they'll be happy with.
Nah. Do it this week.
btw, anyone trading today..it’s wacky because markets open but trades dont settle. Options I sold Friday aren’t settled in my account today.
I know I made that statement on a thread, not sure if that was in response to you.
Xi needs to save face when dealing with Trump or he loses the confidence of the Communist Chinese Government. That's the biggest barrier to getting a deal done. China's own economics experts told Xi to take the first deal Trump negotiated months ago and Xi refused believing he'd lose face.
Same thing is happening here.
You are exactly right. They only respect one thing: strength.
Everything else is just something for them to manipulate and twist.
Announce 35% will go into effect Jan 1 if deal is not signed. Say nothing more.
**************
In DC the amount of talk is usually inversely proportional to progress.
The poster said China needs to make deal..probably why Economic advisors told him to do it..but with Chinese you have to allow them to save face.
Not sure if that is in Trump’s nature
who shorted the market?
My response re: Xi saving face wasn’t to you. I just went to look for it and was unable to find it. Now I’m not sure if I made that response here to a different Freeper or on another FR related site.
OK, no deal, let them go hungry.
I'd go hardline on 'em. Announce it'll be 35% come November 1st due to Xi and the Commie Chinese screwing around now, and it'll go up to 50% on January 1st.
PDJT is playing with a Royal Flush and the Chinese are playing with a pair of Jokers when it comes right down to it. The USA is the #1 destination for products in the world. If the Chinese want access they're going to have to play fairly and equitably with us. If not, no deal and we move on.
Doesnt matter. You got the right idea. You have to realize motivations of other side in negotiation. Japanese and Chinese are big on saving face.
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