Billy Ray Valentine learns commodities
Posted on 12/12/2019 7:52:43 AM PST by SeekAndFind
President Donald Trump declared a “big deal” with China to be close in a comment that sent stocks higher on Thursday ahead of a looming deadline for new tariffs.
‘BIG DEAL’
As he was reportedly set to meet with his top trade advisers, Trump tweeted: “Getting VERY close to a BIG DEAL with China. They want it, and so do we!”
On Sunday, tariffs on $160 billion on Chinese goods are set to kick in. There has been question if Trump will delay or cancel those tariffs if a deal isn’t reached by then.
U.S. stocks jumped after Trump’s tweet, with the Dow Jones Industrial Average DJIA, +0.77%
rising more than 235 points.
Now read: S&P 500 jumps to record after Trump signals imminent China-trade deal.
The Wall Street Journal reported U.S. negotiators had offered to cut existing tariffs by as much as half on $360 billion of Chinese-made products, as well as cancel the duties set to take effect Sunday.
Meanwhile, the U.S. side has demanded that Beijing make firm commitments to purchase large quantities of U.S. agricultural and other products, the Journal said.
(Excerpt) Read more at marketwatch.com ...
This would be over if the Dems stopped working with the Chinese
It is amazing how fast things have turned around with Trump in charge, considering the Ruling Class of Marxist Globalist’s started the Sellout of America in the 90’s
And just like that, confirming weeks of media speculation, the Dow Jones/WSJ reporting that not only will Trump not impose the new tariffs set to come into effect on Dec 15, but will cut existing tariffs by up to 50%.
According to the WSJ, the tariff-reduction offer was made in the past five days or so, and in exchange, the U.S. side has demanded that Beijing make firm commitments to purchase large quantities of U.S. agricultural and other products, to better protect U.S. intellectual-property rights and to allow greater access to China’s financial-services sector. Just one problem: this is where China balked in the past when told to make an uinbreakable pledge, and this time was no different. Curiously, a mere pledge was enough for Trump this time. That said, as the WSJ adds, "should China not carry out its pledges as part of the potential deal, the tariff rates would return to their original levels, a clause known in trade negotiations as a “snapback” provision."
Sure enough, according to the report, "Chinese negotiators have balked at Washington’s request that Beijing guarantee its pledge to buy more U.S. soybeans, poultry and other products, saying doing so would run counter to the rules of the World Trade Organization."
In any event, some sort of "deal", in which the US gets a promise from China to buy more pork - which it desperately needs anyway thanks to its pig hyperinflation - is now virtually certain.
And just like that, confirming weeks of media speculation, the Dow Jones/WSJ reporting that not only will Trump not impose the new tariffs set to come into effect on Dec 15, but will cut existing tariffs by up to 50%.
According to the WSJ, the tariff-reduction offer was made in the past five days or so, and in exchange, the U.S. side has demanded that Beijing make firm commitments to purchase large quantities of U.S. agricultural and other products, to better protect U.S. intellectual-property rights and to allow greater access to China’s financial-services sector. Just one problem: this is where China balked in the past when told to make an uinbreakable pledge, and this time was no different. Curiously, a mere pledge was enough for Trump this time. That said, as the WSJ adds, "should China not carry out its pledges as part of the potential deal, the tariff rates would return to their original levels, a clause known in trade negotiations as a “snapback” provision."
Sure enough, according to the report, "Chinese negotiators have balked at Washington’s request that Beijing guarantee its pledge to buy more U.S. soybeans, poultry and other products, saying doing so would run counter to the rules of the World Trade Organization."
In any event, some sort of "deal", in which the US gets a promise from China to buy more pork - which it desperately needs anyway thanks to its pig hyperinflation - is now virtually certain.
You could make a fortune on Trump tweets on China..
Yea, I think I’ll take Trump’s take on things before I accept these fools. Before Trump there no one even talking about China. Trump saw the problem and I trust Trump, above the backseat drivers, to solve it.
December “Christmas Stocking” surprise??
Trump to tie tarrifs to purchases. Every month China doesn’t meet its threshold tarrifs are automatically increased 1%
Believe it when you see it.
I was afraid of this.
NOT a happy result, for America.
Not at all. If this report is true.
Something good is going on. My AMD stock went up 7.90% today.
That is $3.12 for a total of $42.59
$29.23 to $42.59 in 2 months. I almost sold as it lingered between $28 and $34 for the months before that.
I have a hunch something exciting is going to happen in the pork belly market this morning.
Looking good, Billy Ray!
(Dang, I may have to watch that one again)
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