Trump to Sign Phase 1 of China Trade Deal (watch Live)

FOX ^

[Sarah Barracuda]

Commies will lose the House in November..people who are actually SANE dont like this garbage

[dfwgator]

Let the Democrats have their little Circle Jerk of Impeachment.

Meanwhile, Trump is busy doing his job for the American People.

[gathersnomoss]

Keep kicking their ass, Mr. President! Don’t stop, ever.

[TheConservativeParty]

Trump is magnificent.
Bigly.

[TheConservativeParty]

Trump Landslide 2020

[fatima]

So glad I watched this.

[romanesq]

President Trump - FTW!

(Let’s see if the ChiComs live up to it.)

[BushCountry]

Their economy was sinking in the toilet as several businesses and manufacturers where moving to other countries. They will stick, they have to buy these products anyways, they don’t make enough.

Why destroy your economy when you have to purchase these products anyway? It is a win-win for them too. The USA is an economic Juggernaut to be ignored at your own peril.

[JLAGRAYFOX]

Thank you....Lord, God, Almighty and your blessed only son, Jesus Christ for sending, we, the American people, all, our Glorious, savior of America, POTUS, Donald J. Trump.

Father in Heaven...you have always favored and protected these great United States Nation Republic in both peace and war. George Washington, Abraham Lincoln, Ronald Reagan, Donald J. Trump were your gifts to the USA and her American people.

Satan, the master Devil, of evil, hate, destruction has tried to work his devastating, magic by sending us the
Bitch/Witch” Democrat, Traitor, Nancy Pelosi and her brood of America haters....but...she is no match for you God, the KING & RUler of the Universe...thank Heaven

From the time when I was a baby, receiving the holy communion of believers...until this very day...I have been your loyal servant of freedom, liberty, equality opportunity for all peoples on Gods, Earth!!! I shall remain so.....fighting the likes of of “Evil” Pelosi Low life workers for SATAN...Thank you Lord from a most humble and dedicated servant of the Lord!!! God bless our POTUS Trump on this most memorable day in the American history!!!

[COUNTrecount]

[Sarah Barracuda]

any rundown about this trade deal, how does it benefit us

[Freee-dame]

Win-win deals are Trump’s specialty. Just think where the USA and the entire world could be without the Paul Ryans and Nancy Pelosis of our fed gov.

[nuconvert]

https://www.freerepublic.com/focus/news/3808367/posts?page=18#18

[SeekAndFind]

HERE IS THE FULL TEXT OF THE PHASE ONE TRADE DEAL WITH CHINA

HIGHLIGHTS:

Agriculture details:

• China Purchases to Include Oilseeds, Meat, Cereals, Cotton
• China to Buy Add'l $19.5B U.S. Agriculture Products in 2021
• China to Buy Add'l $12.5B U.S. Agriculture Products in 2020
• China to Approve Pending Applications for U.S. Bond Raters

As Bloomberg notes, China is committing to buying about $32 billion in additional U.S. farm products over the next two years, that's coming on top of levels seen in 2017 (pre-trade war). Specifically, China committed to importing at least $12.5 billion more agricultural goods this year than in 2017, rising to $19.5 billion next year. It's unclear just how this will happen without China's destroying existing supply chains. China will also “strive” to purchase an additional $5 billion a year in farm products.

Energy details:

• China to Buy Add'l $33.9B U.S. Energy Products in 2021
• China to Buy More U.S. Nuclear Power Equipment in Trade Deal
• China Energy Purchases to Include LNG, Oil, Products, Coal
• China to Buy Add'l $18.5B U.S. Energy Products in 2020

Chinese Purchases

• During the two-year period from January 1, 2020 through December 31, 2021, China shall ensure that purchases and imports into China from the U.S. of the manufactured goods, agricultural goods, energy products, and services identified in Annex 6.1 exceed the corresponding 2017 baseline amount by no less than $200 billion.

Intellectual Property

• The U.S. recognizes the importance of intellectual property protection. China recognizes the importance of establishing and implementing a comprehensive legal system of intellectual property protection and enforcement as it transforms from a major intellectual property consumer to a major intellectual property producer. China believes that enhancing intellectual property protection and enforcement is in the interest of building an innovative country, growing innovation-driven enterprises, and promoting high quality economic growth.

Tech Transfer

• The Parties affirm the importance of ensuring that the transfer of technology occurs on voluntary, market-based terms and recognize that forced technology transfer is a significant concern. The Parties further recognize the importance of undertaking steps to address these issues, in light of the profound impact of technology and technological change on the world economy.

Currency, Competitive Devaluation And Enforcement Mechanism

The text contains agreements not to engage in competitive devaluation, to respect one another’s monetary policy and to maintain transparency. Much of that, though, could probably have been inferred from what the U.S. Treasury said the other day in the FX report that saw it remove the tag of currency manipulator from China.

The big questions revolve around the enforcement mechanism. The FX section says points of contention can be referred to a new dispute resolution arrangement that’s being established by the agreement, and if that doesn’t work, the IMF can be called in.

• 1. Issues related to exchange rate policy or transparency shall be referred by either the U.S. Secretary of the Treasury or the Governor of the People’s Bank of China to the Bilateral Evaluation and Dispute Resolution Arrangement established in Chapter 7 (Bilateral Evaluation and Dispute Resolution).
• 2. If there is failure to arrive at a mutually satisfactory resolution under the Bilateral Evaluation and Dispute Resolution Arrangement, the U.S. Secretary of the Treasury or the Governor of the People’s Bank of China may also request that the IMF, consistent with its mandate: (a) undertake rigorous surveillance of the macroeconomic and exchange rate policies and data transparency and reporting policies of the requested Party; or (b) initiate formal consultations and provide input, as appropriate.”

The dispute arrangement itself is outlined in chapter 7, where some of the key sections appear to be as follows:

• If the Parties do not reach consensus on a response, the Complaining Party may resort to taking action based on facts provided during the consultations, including by suspending an obligation under this Agreement or by adopting a remedial measure in a proportionate way that it considers appropriate with the purpose of preventing the escalation of the situation and maintaining the normal bilateral trade relationship.
• If the Party Complained Against considers that the action of the Complaining Party was taken in bad faith, the remedy is to withdraw from this Agreement by providing written notice of withdrawal to the Complaining Party.

Financial Services

• China shall allow U.S. financial services suppliers to apply for asset management company licenses that would permit them to acquire non-performing loans directly from Chinese banks, beginning with provincial licenses. When additional national licenses are granted, China shall treat U.S. financial services suppliers on a non-discriminatory basis with Chinese suppliers, including with respect to the granting of such licenses.
• No later than April 1, 2020, China shall remove the foreign equity cap in the life, pension, and health insurance sectors and allow wholly U.S.-owned insurance companies to participate in these sectors. China affirms that there are no restrictions on the ability of U.S.-owned insurance companies established in China to wholly own insurance asset management companies in China.
• “No later than April 1, 2020, China shall eliminate foreign equity limits and allow wholly U.S.-owned services suppliers to participate in the securities, fund management, and futures sectors.
• China affirms that a wholly U.S.-owned credit rating services supplier has been allowed to rate domestic bonds sold to domestic and international investors, including for the interbank market. China commits that it shall continue to allow U.S. service suppliers, including wholly U.S.-owned credit rating services suppliers, to rate all types of domestic bonds sold to domestic and international investors. Within three months after the date of entry into force of this Agreement, China shall review and approve any pending license applications of U.S. service suppliers to provide credit rating services.
• Each Party shall allow a supplier of credit rating services of the other Party to acquire a majority ownership stake in the supplier’s existing joint venture.”

Full deal text below (pdf link)

[COUNTrecount]

U.S. sources have told FOX Business the purchases will total $205 billion to $210 billion over two years while Chinese sources indicate the buys would be between $215 billion and $220 billion.

“There’s a very detailed dispute-resolution process,” Treasury Secretary Steven Mnuchin told FOX Business’ Lou Dobbs on Tuesday evening. “This is an enforceable agreement just as the president dictated it would be.”

The pact, which follows a trade war of nearly two years, is slated to be signed by U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He at the White House.

The purchase details are contained in a section of the agreement that officials have said won’t be made public.
Beijing will purchase up to $50 billion of crops, according to President Trump and Treasury Secretary Steven Mnuchin, $40 billion of which has been confirmed by Chinese sources. China has also agreed to buy $40 billion in services, $50 billion in energy and $75 billion to $80 billion worth of manufacturing, according to Chinese sources.

“This is a great win for American business and American farmers,” Mnuchin said.

Aside from the more than $200 billion of Chinese purchases, Beijing has agreed to stop the theft of intellectual property and refrain from manipulation of its currency. The U.S., in return, will reduce tariffs on some products made in China while keeping duties on $375 billion worth of Chinese goods.

The administration has held out the possibility of removing the duties under a later phase of the trade agreement, which Trump has said may require as many as three sections.

[ifinnegan]

“Henry Kissinger is there.”

Really?

Bad, bad, bad thing. Bad sign.

Well, I think this is all to have agreements clearly delineated in writing so it will be clear when the ChiComs ignore and break the agreements.

[Sam Gamgee]

This deal seems to put very minimal pressure on Chinese trade practices without not a lot of give from China on its purchases of US products. Is Trump constrained by a treasonous senate? I’m Canadian so far be it that I criticize American relationship with China, but learning that in 2004 that China stole US naval secrets, if I ran the country, I would have ended their privileged nation status right then and there. I guess that didn’t happen because too many hands, Republican and Democrat, are greased by China.

Funny enough Canadians are even less alarmed than Americans when it comes to China.

[Sam Gamgee]

There are so many Chinese agents on social media. If you listen to their narrative, China is a roaring lion that will swallow the USA economically over the next 20 years.

[Sam Gamgee]

Call me the glass half empty guy but the fact China uses prison child and slave labor is not addressed here. And for all their promises I don’t believe them for one second they will stop stealing intellectual property.