Posted on 05/11/2025 10:40:39 AM PDT by janetjanet998
U.S. & China strike trade deal
Full details will be released tomorrow
If this is accurate (and I am not questioning you Janet…) Futures should start looking up in a couple of hours.
Gold…not so much.
The MSM is so fraudulent.
While specific terms of the deal were not disclosed, US Treasury Secretary Scott Bessent described the talks as “productive” and said more information will be released Monday.
“I’m happy to report that we made substantial progress between the United States and China in the very important trade talks,” said Secretary of the Treasury Scott Bessent. “… The Swiss government has been very kind in providing us this wonderful venue, and I think that led to a great deal of productivity we’ve seen. We will be giving details tomorrow, but I can tell you that the talks were productive. We had the vice premier, two vice ministers, who were integrally involved, Ambassador Jamieson [Greer] and myself. And I spoke to President Trump, as did Ambassador Jamieson, last night, and he is fully informed of what is going on, so there will be a complete briefing tomorrow.”
China has a 4-1 merchandise trade deficit with the US and a lot of their factories have shut down. They have an incentive to obtain continued access to the massive US market.
That said, I don't see how an already weak economy built on cheating, stealing, and lies can survive when it has to compete honestly.
boom goes the dynamite!
I trust bessent, but didn’t see himquoted as a done deal?
I expect each side to cut their retaliatory tariffs by about half.
That’s pretty much a pure guess on my part.
The Chinese probably also agreed to crack down on fentanyl precursor suppliers.
China is in big, big trouble...beside what you point out workers in China are protesting, countries are pulling investments out of China, their real estate market has been in a state of collapse for several years now, unemployment is crazy high and the military is in shambles, with Xi again purging military leaders as many of his loyalists have turned against him...
My only concern is, what has been written in this agreement about the consequences once the chiComs start cheating- again?
About two-thirds of the trade imbalance with China comes from the Chinese counterpart of ‘Buy American’.
People in China generally have the option of buying Chinese, and they do.
They don’t want to be seen as unpatriotic.
The 100% Chinese Huawei phone is bought, and the majority of the price American Apple phone isn’t.
Zeroing out Chinese tariffs and tossing out anti-American regulations entirely will not fix the ‘Buy Chinese’ problem.
Only variable tariffs based on trade deficits will be able to overcome Chinese resistance to buying American stuff, and then only partially.
Trump probably said 20%. Take it or leave it.
“I’m happy to report that we made substantial progress between the United States and China in the very important trade talks,” said Secretary of the Treasury Scott Bessent. “… The Swiss government has been very kind in providing us this wonderful venue, and I think that led to a great deal of productivity we’ve seen. We will be giving details tomorrow, but I can tell you that the talks were productive. We had the vice premier, two vice ministers, who were integrally involved, Ambassador Jamieson [Greer] and myself. And I spoke to President Trump, as did Ambassador Jamieson, last night, and he is fully informed of what is going on, so there will be a complete briefing tomorrow.?”
This doesn't read like the ink is dry, at least not yet.
Greer seemed more enthusiastic, saying they had "come to an agreement." A full deal or agreement to talk more? We'll see, but certainly positive news!
This doesn’t read like the ink is dry, at least not yet.
—
The White House just posted they have reached a deal on their X account
Treasury Secretary Scott Bessent said Sunday that trade talks with China officials in Geneva over the weekend were “productive.”
He said the talks yielded “a great deal” of productivity and that he would give more details in a complete briefing on Monday morning.
Bessent also said that he and U.S. Trade Representative Jamieson Greer both spoke to President Donald Trump on Saturday evening and “he is fully informed” about the discussions.
Greer said during remarks on Sunday that the officials reached some form of a “deal,” but did not provide any specifics. He hailed the discussions as “very constructive.”
“It’s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought,” Greer said.
“We’re confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency,” he added.
It’s all about enforcement when it comes to any deal with China.
HUGE!! Trust but VERIFY.
There MUST be rigorous enforcement of the DEATH PENALTY for fentanyl traffickers in China. This alone will save America TENS OF BILLIONS OF DOLLARS and save hundreds of thousands of lives each year. China could have stopped it years ago but they used it as a negotiating ploy, it needs to stop RIGHT NOW.
Thanks for posting Janet
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