Buy your discount stocks on monday, for the tides will rise
BUENOS AIRES, Argentina (AP) — The United States and China reached a 90-day ceasefire in a trade dispute that has rattled financial markets and threatened world economic growth. The breakthrough came after a dinner meeting Saturday between President Donald Trump and Chinese leader Xi Jinping at the Group of 20 summit in Buenos Aires.
Trump agreed to hold off on plans to raise tariffs Jan. 1 on $200 billion in Chinese goods. The Chinese agreed to buy a “not yet agreed upon, but very substantial amount of agricultural, energy, industrial” and other products from the United States to reduce America’s huge trade deficit with China, the White House said.
The truce buys time for the two countries to work out their differences in a dispute over Beijing’s aggressive drive to supplant US technological dominance.
In another long-sought concession to the US, China agreed to label fentanyl, the deadly synthetic opioid responsible for tens of thousands of American drug deaths annually, as a controlled substance.
The Trump-Xi meeting was the marquee event of Trump’s whirlwind two-day trip to Argentina for the G-20 summit after the president canceled a sit-down with Russian President Vladimir Putin over mounting tensions between Russia and Ukraine. Trump also canceled a Saturday news conference, citing respect for the Bush family following the death of former President George H.W. Bush.
Trump got played. Xi knew he made a mistake applying tariffs on US agricultural imports. He needed an excuse to correct this mistake by “giving concession”. After 90 days, they will blame Trump for breaking the truce and ask for another summit. A delaying tactic till 2020.
Trump is actually holding all the cards here… China is in a bind in a number of ways and these tariffs have been proven to affect China by a magnitude of 5 over the US. The original tariffs are still in place… Trump to XI’s Rook… check.
This is little more than the what they have done to every president since Nixon. The will tell you what you want to here… you go away happy… they continue doing what they were before you opened your yap. Every bit of engagement with respect to human rights has netted zilch… Every attempt to reign in currency manipulation … nada… Trump actually has the power to fix this. It is likely one of the last windows of opportunity the US will get as its financial and military clout diminish as we buy their trash and finance their development… Frankly, everyone who has an Apple phone… a very visible product of China… should be ashamed… after all… its only a damned phone.
I would hope that Trump has reached out to European friends to enlist their grievance as well…because this isn’t just American issue. I read in 2017 Europe had a deficit of 180 billion or something to that effect. And of course the same intellectual property theft problem as well. Specially with pharmaceuticals industry.
I do have to admire em thou…their tentacles have reached Globally.
I also need to point out while America and Europe are bitching about Saudis killing that journalist they totally ignore what happens when journalist that speaks out against that brutal regime in China. Oh they stopped torturing and killing em…now they throw them in jail to rot without any medical treatment.
Meanwhile the west wanting to punishes Saudis and drive them into he hands of Chinese and all it’s infrastructure that the west help em built over the last 80 years.
And don’t get me started on this carbon tax BS. Driving up prices while China doesn’t have to comply till 2030 I think? Which by then the west economy and manufacturing base is all but gutted.
Yep…I have to admire em for their negotiation skills.