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To: nuconvert

50 posted on 01/15/2020 10:33:55 AM PST by COUNTrecount ("I've always won, and I'm going to continue to win. And that's the way it is." -- Donald Trump)
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To: COUNTrecount

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


51 posted on 01/15/2020 10:39:01 AM PST by Sarah Barracuda
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To: COUNTrecount
HERE IS THE FULL TEXT OF THE PHASE ONE TRADE DEAL WITH CHINA

HIGHLIGHTS:

Agriculture details:

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:

Chinese Purchases

Intellectual Property

Tech Transfer

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.

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

Financial Services

Full deal text below (pdf link)

55 posted on 01/15/2020 11:57:23 AM PST by SeekAndFind (look at Michigan, it will)
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