If you don't know who the mark is, it's you. It's you, America.
1
Time to move on. American has dominated the ‘infrastructure’ of world trade under the agencies it created in the post-war period: The IMF, The World Bank. The WTO, and the ruling ideological cover The Washington Consensus, often to disastrous effects in other countries in So. America and Africa. The effect has been a lost of control as nations have reevaluated their national interest and the unforeseen impact of globalization. Trump is housing two groups, those who wish to hold on to ‘how it was’ Mr. Lighthizer, Mr. Navarro, and the more Wall St. oriented professional who under stand what China’s top economic official, Liu He is likely to give without a ‘Trade War.’
Trump will make a choice between the two camps, eased by the break with Mr. Bannon.
What an impressive bunch of employees have we hired - they keep thinking that we exist to serve them, and pay for their junkets!
If there was ever a stress test for our Republic, this entire trump kerfuffle is it.
2
We've never been great traders because we've never needed to trade much.(That's why trade is 13% of our GDP and it's 39% of Germany's).
We've got everything: resources, expertise, the huge, insatiable North American market and an almost limitless credit card whose principle we never need to repay.
We don't want to change any of those elements, do we? Who would?
So we blame the Chinese whom we deputized to do our dirty manufacturing for us and recycle our valuable trash 20 years ago because we could't be bothered doing it ourselves–a move that our media hailed as inspired at the time and made us all feel, for a while, like winners.
Now that era is ending and we lack not only the political will to address it, but the intellectual will: the honesty to confront our dilemma and change course while we have time.
When will the NYT take the lead in that painful conversation?
3
With four times the US population, China has that much more economy of scale of manufacturing for its domestic market.
So disheartening. All that was missing were the custard pies.
Our President should move to a grander field, that of ending poverty in the world. He and President Xi should announce that they will work together to bring the poorer parts of Africa, the Middle East and Latin America, etc into the kind of development that the victorious Allies made possible for Japan when they showed companies like Matsushita Electric, Panasonic, Sony, Sharp and NEC etc to become the Japanese Consumer Electronics Industry, leading to the improvement of the rest of Japanese industry, to the Tigers and eventually the so-called East Asian Economic Miracle.
The new US policy had a tragic history . After the WWI, the defeated nations were left to their own resources or “stew their own juices”. After WWII things were different. Truman's Marshall Plan helped Europe rebuild while his now near forgotten Point 4 proved a godsend for Japan eventually producing the so called, East Asian Economic Miracle.
Such a new world order will see the US and China with smaller proportion of the world economy but they will be proportions of a much greater whole.
Contacts tell me the Japan Science Museum in Tokyo is organizing a major exhibit that will pay tribute to the work of three of MacArthur's Civil Communications Section (CCS) engineers, Frank Polkinghorn, Charles Protzman and Homer Sarasohn. How about the NYT checking it out???
.
Trump will be very angry when Barron explains the DealBook column to him. Wish I could be a fly on the wall.
When one is in a war, the first thing is to set your target. President Trump picked the wrong target: trade deficit. Chinese seized on that. They gladly agreed to narrow the gap by buying more soya beans and LNG. In the meantime, the Chinese are into 5G, moon shots, quantum computing, and AI.
Trump is making a mess out of trade. He wants to be in charge. He's picked a jumble of people to negotiate for him but he holds the cards. Not going to work.
3
It's not infighting in the administration that is causing the problem.
It is the profound ignorance and short attention span at the top, compounded by an unwillingness or inability to master any detail.
In a nation where the ruler is notoriously subject to whim, his courtiers keep trying to guess what he will want next. It's a mug's game, because capriciousness is the only constant.
It is why our enemies are drinking Champagne while our friends are crying in their beer. Our nation is diminished as never before.
Dan Kravitz
10
Don't forget that China has been around far longer than the U. S. The Chinese are consummate gamers, their leaders are younger and smarter than the Americans. Their virtue is patience, something we have little or none at all. It doesn't help we have an incompetent leader who is impulsive, and not trustworthy.
7
I have had enough. This administration illustrates that it can in no way: 1) protect our people; and, 2) protect the country and people it has vowed to protect; 3) enjoin our mostly -dead congress to pass laws that protect our citizens; or, 4) posit any coherent federal policy plans to meet any plan objectives to protect ALL citizens. All we have is a plan to enrich a criminally corrupt president, his equally corrupt and impotent congress, and billionaires. Citizens. Are you there???
5
Perhaps Kellyanne could explain all this Alternative Winning to me, but given that most of the big tax cut went to wealthy corporations who are investing it in overseas business ventures, I am completely confused as to what we are trying to accomplish in our trade talks. Does Team Trump have any idea what they're doing? I'm really beginning to wonder.
Yes, of course, we have to, we must hold off imposition of tariffs on Chinese imports now that they have been more forthcoming in the secret parts of our deals with them. As everyone knows, all agreements have private and public clauses. They all must be met and we are glad to certify that China has lately shown more willingness to meet the WH private demands. So why go into any mess or fuss?
if China buys significantly more farm products from the US, for for American families will become more expensive. correct?
well, at least low income families will have money from the tax break to pay for that. like $1.50 per week.
good thinking, Trump
1
The BEST People. Compared to What ??? Gangsters ??? Wrestlers ???
Serial Killers ?????
7
Did anyone notice how Trump's mid-east police has raised gasoline prices. Just wait as his China policy raises prices on everything else. Which will ignite inflation. Then the Fed will raise interest rates. Which will harm Trump and Kushner's leveraged real estate so that they will declare bankruptcy again.
2
The wage of sin is death. Time to pay america in full.
#calexit
This is as good a time as any for a big military parade. Why aren’t we discussing this?
8
Maybe the "failing NY Times", in the interest of public service, should send this story to prominent Republicans and ask them "how long can you support this incompetent and unethical president? It's no longer a matter of appearing partisan. It's a matter of protecting our democracy, with the longer view that it's necessary to the larger picture that this president be removed from office asap.
8
The issue with the trade deficits isn't that we need China to buy more from us, it is that we need China to sell less to us. That is the only was to drive manufacturing jobs back to the US from China. Of course that isn't going to happen any time soon.
Meanwhile, Trump is driving US dollars out of the hands of all our trading partners as he isolates the country from the rest of the world. When other countries have fewer US dollars to spend, they invest less in the US. without that investment, US companies have fewer dollars to spend creating jobs and doing research and development.
However, there are indications that Trump's own businesses are making out like bandits from foreign investment.
9
His "most cherished policy agenda" has nothing whatever to do with China, and everything to do with the Trump image. Everything he does, everything he says has to do with Trump - not China, not the US, and certainly, not us.
12
Trump took a victory lap at the opening of talks with North Korea and his crew ran their mouths on tv about "The Libya Model" and the Nobel Peace Prize. What a bunch of amateurs.
Pulling out of the TPP and the Iran deals, with nothing to replace them is not negotiating, it is preemptive failure.
It is worth remembering that the business genius who green lighted the for-profit Trump University failure, was only a figure head on The Apprentice. The network called all the shots on which contestant Trump would fire on the show. And his vaunted book, The Art of the Deal, was written by someone else.
Trump is a dishonest showman and he is slowly being exposed.
It may be only a short while until he tries to save his orange skin by inventing a war he will heroically lead.
16
“Now the future of the negotiations falls to Wilbur Ross, the 80-year-old commerce secretary...”
In a transparent attempt to continually bash Trump, has the Times really stooped to age discrimination? Sure looks like it. No one else is introduced with their age highlighted.
3
Jay Lincoln, Donald Trump himself has said Wilbur Ross has to schedule early meetings because he has a tendency to fall asleep at later meetings.
5
nyt ran story yesterday that China's press was running a picture of meeting with old us reps on 1 side of the table and young Chinese reps on other side bottom rail on top!
3
I’m in my seventies and I think there are far too many old people running the government.
3
Here's your answer to whether he can claim victory: No. He has made it clear that the goal is complete and verifiable denuclearization. He cancelled our commitment in Iran because a denuclearization that isn't complete and perpetual is "disgusting." I would venture that in such a context he will be bound to do what he assured everyone he would do. It may not be "sassy"like health care, but the master of the deal has led us down this road not to reach a dead end, has he?
2
So many Americans and apparently Trump officials are unaware of the multi-trillion dollar plan to upgrade the technology of China in China 2025: http://english.gov.cn/2016special/madeinchina2025/. Even American journalists have not been aware of maybe the creation of a modern Silk Road: https://en.wikipedia.org/wiki/Silk_Road
In September 2013, during a visit to Kazakhstan, Chinese President Xi Jinping introduced a plan for a New Silk Road from China to Europe. The latest iterations of this plan, dubbed "One Belt, One Road" (OBOR), includes a land-based Silk Road Economic Belt and Maritime Silk Road, with primary points in Ürümqi, Dostyk, Astana, Gomel, Brest, and the Polish cities of Małaszewicze and Łódź—which would be hubs of logistics and transshipment to other countries of Europe.[117][118][119][120]
On 15 February 2016, with a change in routing, the first train dispatched under the OBOR scheme arrived from eastern Zhejiang Province to Tehran.[121] Though this section does not complete the Silk Road–style overland connection between China and Europe, plans are underway to extend the route past Tehran, through Istanbul, into Europe.[120] The actual route went through Almaty, Bishkek, Samarkand, and Dushanbe.[120] Thanks to Wikipedia and further research is needed.
4
China holds about $1.17 trillion in US debt. Mostly in Treasure bonds. Of course, they never would sell off the debt, but if they did, markets would crash, hyperinflation would engulf the US economy, President for Life Xi (http://www.bbc.com/news/world-asia-china-43361276 ) is holding a fantastic hand of cards to further bargain with the Trump administration. And the American public elected a president who doesn't think or consult his cabinet before he tweets. His tweets on tariffs on China are but one example. I imagine Mister Xi is very amused.
28
I would think that if Trump has just celebrated savng 75,000 Chinese jobs, he would be saving at last that many American jobs. But he hasn't done that and it seems nobody right, left, or center, is holding him to account. Aren't the Republicans all about accountability?
9
If ZTE folds American companies will lose billions in revenue. Its really not complicated.
Lock them all in a room and let them decimate each other.
Winner gets to go shopping for Trump products made in China.
4
In other words, you have no clue what you’re doing, Trump Crime Family. Kudlow is the Rudy Giuliani of economics.
10
Good Coherent Team Donald - Think You Stepped Into the Swamp with Both Feet!!
Please Try to Get Your Act Together with Your Team Before Heading to North Korea
Next Month - Bolton & You Already Don't Seem to be on the Same Page..............
Heaven Help Us All - As there is More at Stake than Soybeans; Only the Future of the Planet Possibly!!
3
When people voted for Trump, surely they expected a basic level of competence. For many Trumpists, his getting things done will be their final fallback position, once they can no longer countenance his vulgar, autocratic, unconstitutional behavior. Perhaps there's a lesson here for Democrats: Focus more on this administration's (gross) incompetence, and less on Russia or corruption. For many Trumpists, it may be easier to accept that he's incompetent, than he's a traitor. We Democrats need to give shaky Trump supporters a face-saving way out of the darkness.
31
I agree with your assessment. But when someone just will not admit to things not going as planned, it seems to be hard for supporters to let the facts change their minds.
3
The rest of the world isn't falling for Trump's bluff as easily as so many Americans have. His supporters here have mistaken his celebrity and gift for self promotion and marketing as evidence of business acumen, when in fact, we hardly know the first thing about his finances, because he has kept them all hidden, and kept his disgruntled business partners and cheated customers silent with non-disclosure agreements and by paying them off. They needed to believe in him because Republicans have been promising phony solutions to real problems for years now, and he was the first one to make it all seem plausible.
The rest of the world is under no such delusions about Trump, Those leaders who think they can manipulate him for their benefit will sing his praises. Trump is the useful idiot for Republicans, and his staff is clearly using him as an opportunity to pursue their own agendas.
9
The Chinese negotiators want to come out of these talks with a significant improvement in China's net economic position. The US guys want to come out with some stuff that can be sold to Trump's not-too-clever base as tough and successful negotiating. The two aren't exclusive of each other. After some kabuki, they'll get together. God only knows on what.
6
With apologies to Lin Manuel Miranda:
"We are outgunned, outmanned, outnumbered, outplanned."
Oh well, let's go back to the drawing board and figure out how we can blame the latest fiasco on Obama and Hillary.
9
It is so obvious that China, North Korea, South Korea and especially Russia are all playing Trump the Chump for the fool. Make no mistake, the leaders of these countries are seasoned players who are immune to his lying and guileless impulses. They have all learned that his boorish threats are meaningless. Now they are letting him twist on his own rope. The question is: will they let him off the hook easy so that they can keep him around or???
3
Hm, I wonder if the infighting described within the White House is impeding the investigation into the “total and complete shutdown of Muslims entering the United States until our country's representatives can figure out what is going on.”
It's been 2.5 years since Trump called for it. Time is up on wrapping up the investigation and reporting the findings to the nation.
1
They should buy some Fortune Cookies to help plan their strategy; after all, Fortune Cookies come with advice from rice
3
One is playing man-to-man, another zone, still another is looking for his baseball glove, and the coach is looking up the skirt of a nearby cheerleader.
4
At least the U.S. negotiating team's members know that Trump has their backs. Kind of like when Jack McCall had Wild Bill Hickok's.
Defeat from the jaws of victory.
2
The "best and the brightest" off to China with the simple goal to be "tough", that's all. So, how does Trump and Fox parlay this into being Obama and D's fault? Good question but I'll bet it is presented that way.
Trump erases anything smelling of Obama and is left with the best he can muster in place is ignorance and bluster.
2
Compare Eisenhower with Trump and the differences reveal how this state of affairs came about.
Eisenhower was a mid-western farm boy who was educated by taxpayers and worked his way through a difficult government bureaucracy learning to plan endeavors where national fortunes and many lives would be at stake and earned command with responsibilities over vast enterprises, and earned the affection and respect of not just his country but a lot of governments of other countries.
Trump failed at business so often it really seemed careless, pushed himself into the gossip mass media, constantly sought pleasures with scandals, and ended up a reality tv star, who began his run for President by promoting false narratives, and won by expressing anger and nasty talk which entertained nearly half of the electorate.
The current situation and that under Ike’s administration can be entirely explained by the different people.
6
The problem is more with Trump than the infighting. He likes to do business this way.
3
We picked the worst time to impose tariffs on China. Kim Jong Un has made two trips to Bejing and one can surmise that North Korea and China already are discussing a rail connection from China to the Koreas to open up trade and movement of food, fuel, and critical material. Both to the North and the South. Do they need the Trump administration to bless this proposal. No. Only an agreement that the Americans and especially Ambassador John Bolton don't have a plan to attack and obliterate the North. Recently my IT engineer who is second generation Chinese American had a wedding. His bride's family now very wealthy flew over from Vietnam. Of course, I remember that war, I was in the US Navy, and look what has happened since. North and South Vietnam are united. This happened since the war not because of the war. As most countries learn prosperity causes the need for nuclear annihilation of other countries to dissipate. I believe that Kim Jung Il knows this and also Premier Xi. I doubt even the possibility hasn't entered Trump's mind. He has been so busy conjuring up conspiracy theories about the Democratic party, his own Justice Department, and the FBI.
5
Mix ego with incompetence carried out by a clueless non-politician and this is what you get. Short term it may not seem like much, but long term Americans are giving up their place and worse, their credibility, in the world that was build over decades if not a century.
Politics and diplomacy are an art and a profession and we in the US have degraded both whereas China has mastered them brilliantly the past 30 years.
53
Oh Yeah, the White House and this administration are running like a finely-tuned machine - IN WHAT REALITY IS THIS TRUE?? - hahahahahahahaha -
3
One thing Mr Trump lacks is diplomacy and that will lose USA trade deals whereas our new pregnant PM did a goodwill tour of Europe and has melted hearts and got NZ and Australia the green light for talks on a free trade deal with the European Union.
4
Where are all those commentators who were doing victory laps last week, praising Trump's "big wins" in China and North Korea?
These people must think that if you get to first base in the first inning, the game is over and won.
Real victories require time, skill and effort, and Trump and his cohorts don't do those. They do quick and inept, and then move on to create the next self-made disaster.
7
When our President is incompetent I would not expect anything remotely resembling a functional cabinet to be part of his M.O.
The reason China lowered tariffs on imported cars is simple the Chinese do not want to buy what most US car manufacturers produce SUV's and pick up trucks are uniquely American. GM sells a lot of cars in China but they are made for the Chinese market in China. It was simply, to steal the rights favourite line a nothing burger. About the only US car manufacturer to get a win out of this is the rights favourite punching bag Tesla, which is strange because they make the car with the most American content of any US manufacturer. Which are very popular with rich Chinese so they will save 10 percent when buying.
1
why would one expect anything other than chaos from this administration?
6
For China, a major part of this calculation has to be:
Should we bolster Trump's presidency by giving him something he can claim as a "victory"? After all, it could be a big a plus for a rising world power to have the preeminent power and main adversary continue to be deeply damaged by a divisive, incompetent narcissist.
On the other hand, Trump represents such a threat to world security and economic stability that the Chinese may view him as a threat to their own interests as well as ours, and in that case be just as happy to make him look foolish.
In either case, what's most clear here is that the Trump economic team is way, way out of its depth here.
3
This is the worst, most chaotic, least unified group of negotiators I’ve seen in my lifetime. And as a New Yorker, I’m not likely to forget that the self-professed “great deal maker in chief” presided over six bankruptcies, taking down with him many small businesses as his casinos collapsed.
We are veering ever closer to isolationism and military conflict, while working to reduce the size of our population—all moves that will hurt our growth in the long run.
4
Trump negotiations are like a circle. Jerk one side it all falls apart
1
It's really hard to expect any successful conclusion to trade talks this monumental when both sides continue to jaw publicly about relatively minute differences in the press.
If Trump weren't so obviously desperate for total victory, even at the expense of having to wait a bit (patience not being his biggest asset), he could claim partial success and move on to other issues. But his team knows he will listen to the last person to suck up to him and, therefore lies the defeat.
1
The bull in Chin's shop, bellows, blusters, bucks, and kicks, then meekly backs out. Once again Trump, the deal master, exits the chaos he's created. Let's put our hands together for our papermaiche president.
4
We are lead by amateurs, idiots and those that favor foreign governments
6
As an outsider on the US-China spat, but being a wary Canadian re: NAFTA, I'd like to offer one comment regarding technology transfer. If US companies weren't so hell bent on getting into the world's largest country and fastest growing economy, they wouldn't have to do deals involving technology transfer. To me it looks like greed exceeds prudence. That being said, China is not doing enough to protect legitimate businesses from outright counterfeiting.
2
They were doing well up to and including imposing sanctions on ZTE. And then it all somehow went to hell. ZTE sanctions undone, Mnuchin imposing his globalist agenda to help out his Goldman Sachs cronies, a possible half billion dollar bribe, negotiations aimed at helping only Trump’s voting bloc with disregard to national security, etc. Meanwhile China will still continue to transfer IP until they can design the necessary components themselves.
1
Please let us all pray for a very, very mild Hurricane season this summer. This administration cannot do anything correctly.
4
#clowncar
3
This administration is a clown car. And I hate clowns.
8
Wow.
It's just a giant poisonous tire fire.
Burn Baby Burn.
4
Puzzling headline. There was never any chance of "China trade win", so nothing to undercut.
2
Is there a Nobel Prize for gross incompetence?
12
If Trump was a movie he could certainly get a Razzie -
The Rock accepts for our Razzie/Rotten Tomatoes Category: "The Razzie Nom So Rotten You Loved It!"
1
Trump Inc. certainly needs to get this under control... there are orders for Ivanka handbags, MAGA hats and tacky men's shirts and ties at stake!
11
Captain Chaos and his merry mishmash of mindless miscreants strike again!
4
Trump hires only the best people so I guess everything will work out fine.
4
Larry Kudlow is going up against the brightest economic minds in China?
I know which way to bet on that one.
3
This administration is such a joke. They are clearly not all singing from the same hymn book. No wonder the Chinese are spooked. It underlines their suspicions about Tump. Who would make a deal with an unorganized rabble you simply can't trust.
6
It's time to put to bed the myth that Trump was ever a good negotiator. He was and is a bully, which worked in New York real estate but not in global politics.
6
Hasn’t worked for him in NY real estate in 20 years either. Remember that no US lender will work with him
6
It takes a lot of repetitively poor decision making and a lot of overall mismanagement to bankrupt 4 casinos, the NJ Generals Football Team, and run Trump Shuttle into the ground to say nothing of the bankruptcy of Trump Tower Toronto, Trump Steaks etc. We elected a businessman who knew how to protect his finances at the expense of the US taxpayer plus his own workers.
The last time we had a President with this much business experience, his name was Herbert Hoover and he gave us the Depression. Trump will duplicate Hoover's dispicable achievement.
3
Trump’s red-meat campaign issue of trade imbalance with China is fairly obvious. All it takes is a stroll through Walmart and a sampling of Made in China labels to prove. What’s also obvious, to some, is how completely unprepared and inept (“I alone can fix it.”) this administration is when it comes to dealing with China on just about every issue. I would imagine that they’re at least five steps ahead on trade.
As with his other major campaign promises, there is no position stated from health care to immigration to gun legislation that is not subject to a flurry of blundering statements and missteps from the White House. All we’re hearing is a loud cacophony of misdirection and confusion.
I’m just glad that we can’t hear the roar of laughter coming from China right about now.
2
This is what you get from a Reality TV Star President. Likely doing nothing is better than anything Trump would do, so I am thankful for his incompetence. I am counting his days left. There are too many. I wonder what spin the Alt-Right news is putting on this so they can still support Trump.
2
Kudlow, Mnuchin and Lightziner are the new Three Stooges. My god, can anybody get on the same page?
4
Hire a clown, expect a circus.
3
What does Hannity recommend?
3
T he
R idiculously
U nprepared
M ake
P olicy
Might look good on a red hat.
3
The Trump kakistocracy stumbles on.
3
Two takeaways from this article;
1) Since Trump is deporting all their workers, our farmers might not actually be able to produce very much.
2) Hope Wilbur Ross can stay awake in China
4
Good! Let's just go with the tariffs and call it a day.
1
How can anyone with even a scintilla of integrity work for this administration?
It all seems to be about every person for themselves and then constant backstabbing by The Donald or his minions.
Pitiful to watch.
3
This thing is not a president, it is a wanna-be-emperor, and it is not what it claims to be. How long will it take for its supporters to discover what it is? Probably longer than a special prosecutor to catch up with it's litany of crimes...
6
Xi is regarded a dictator by some, and Trump is the elected leader. However, Xi's team has tactfully defended China's national interest, and Trump's team has not guarded US national interest. Is the US brand democracy failing?
When the administration is as corrupt and incompetent, and possibly treasonous, and there is nothing the other parts of the institution can do to challenge the situation, the institution is ineffective to say the least.
4
To say the least! But, to say what is accurate, it is dead.
#calexit
Xi is a dictator who is tactfully defended China's right to steal intellectual property the cost of exposing the weakness of China's position vis a vie the US.
Agreed.
Much as I despise Trump, I thought that standing up to China with the ZTE was the right thing to do. But backing off ZTE the way he did just killed all the credibility he could have built with China.
Trump's policies and decisions on China, North Korea and Iran are a function of the degree they distract from the crisis du jour; puff up his ego and make Obama look bad. Also, people should wake up to the fact if the policy has the potential to cause a Trump enterprise to lose a penny it won't be implemented.
1
It is undeniably evident from this look behind the curtain that Trump is a superficial, uninformed and indifferent huckster. All he wants is a magic number ($200 billion in this situation) that he can repeat to his adoring base at his ongoing campaign rallies.
Back in his real estate days, Trump would fixate on the number of floors he wanted in a particular project, such as the overwrought Trump Tower in Manhattan. He has lied repeatedly about the number of floors it has -- overstating the true number -- because to his mind, fact and details have never met.
This fixation with his own desires doesn't work in international relations, either. Trump is being embarrassingly obsequious to the North Koreans and the Chinese, and they know it and are playing him for the fool he is.
8
This is what happens when you put power hungry rich donors in positions of government. I'm not sure why some of them are involved. None of them have any foreign policy knowledge & no intelligence between them. With Trump screaming "all or none" no country will deal with him. There is no negotiation in the trump world. Mnuchin wants Treasury to control the deal, Wilbur Ross wants control, Kudlow wants it his way. All this inexperience is frightening.
3
I see a lot of top comments exhtolling TPP as some sort of magic. Fact is it would be NAFTA in the Pacific. Higher profits for US companies by more outsourcing. It was not going to contain China. China was already the larrgest trading parting with most of the world. Those countries would not suddenly buy more expensive US made goods. TPP was more about politics than economics. I'm saying whether Trumo should pull out or not - but people grossly misunderstand what TPP would do. Especially in light of the fact all those nations are negotiating a trade agreement with China.
The analysis missed a broad contextual point — that Trump is massively ignorant of the details and nuances and trade offs involved, and in fact does not really care as long as he gets a “win”. He is vulnerable to staff infighting because he is a blank slate, powered by ego and unfettered by knowledge or ethnics.
8
The Ig Nobel Prize in Science was made to honor achievements that first make people laugh, and then make them think.
I suggest there to be an Ig Nobel Peace Prize that would first make people laugh, and then make them cry. Donald Trump would be perfect for that!
2
Mnuching, Ross et al. are selling out, with an eye on post-administration jobs. And the Chinese knowing this, have bought them. Cheaply.
"He and Mr. Navarro stepped outside to engage in a profanity-laced shouting match...'
This is the brilliance of Trumpist 21st Century international trade negotiating in action - Talk tough, then debase yourself, hope for mercy, and give away the farm.
3
The word shriveled and the word Trump go perfectly together.
3
Trade and its impact on business partners are extremely complex with many retroactive loops and interrelated effects. Negotiation starts with having detailed insights about internal mechanisms (Tariff increase here has consequences there etc...).
This requires looking at loads of data, making scenarios and aligning US negotiation team members
Data and complexity are 2 things President Trump is bad at.
And he thinks building team spirit is useless.
Therefore, I am still waiting to see the real deal maker beyond the deal breaker that President Trump has so far demonstrated to be....
"infighting" , this is pure incompetence.
Any leader know how to harvest the best ideas in her/his team's conflicts and come to the table with a unified plan.
2
The bit about Mnuchin and Navarro stepping out for "profanity-ladden shouting matches", during the talks and in front of the Chinese, is truly priceless.
I wish the authors reminded the readers who exactly Navarro was. I recommend looking up his "Death by China" video on YouTube (he is the author of a book with the same title). The opening sequence - an animation of a red dagger symbolizing the Chinese Communist threat slicing through the heart of America is worth it by itself (Mr. Navarro does not appear to be too fond of nuance). He is also reported to be the source of most of Trump's anti-China rhetoric during the campaign. It was also rumored that when Jered Kushner needed to quickly gain some expert knowledge on the subject of trade with China, he went about it by ordering Mr. Navarro's book from Amazon.
5
Trade wars are easy to win....if you're the Chinese government sitting across the table from the incompetence of the USA.
4
I think Mr Trump sent negotiators to the table that weren't really trying to end global manufacturing's access to both the Chinese labour pool and the American consumer market. They are actually quite happy to have delivered this fail. But why does he have so many globalists in his administration in the first place? It's not what he promised his voters.
It is astounding that this administration's economic policy officials are not publicly on the same page. Either Trump is incapable of leadership, merely being reactive when one of his people says something to the media, or, he can't make up his mind which policy he supports because he simply does not understand the facts about international trade. Either way we are swiftly losing all credibility we have internationally. China, whose economic delegation is disciplined, will negotiate a deal that is good for it in the long run. Meanwhile, our people will accept some short term benefit for the U.S. that will wind up being pretty meaningless. Indeed, short-term solutions epitomize this administration's shallow thinking.
62
You left out the correct answer: (c) both. He knows nothing about international trade, he's not willing to learn anything, and so he is swayed by whoever spoke to him last, or reminded him of his campaign promises.
Oh yeah, and he's incapable of leadership. His advisers squabble because he has set no firm policy; by listening to them in turn, he persuades them that he agrees with them and not the other guy. The best we can hope for is that talks go nowhere, because otherwise China will eat our lunch.
7
This was a good outcome, and China made some important concessions. Trump did not want a trade war, but China has been a large trade offender globally, and this was a great step in the right direction. Please give Trump credit where credit is due
Credit for what?
1
In the end, the trade route will play out and settle the market but the usual same players in the trade will most likely continue to expand their control of the planet's wealth.
Trump has no leadership skills and no clear idea of strategy nor of planning for highly complicated issues that require many different lines of development to address, so he does not produce well coordinated efforts where uncertainty is significant. He has one method and one technique. He guesses what might work, tries it, if it does he leaves it, if not he waits for another inspired guess, and so on. If he can’t come up with another response, he declares victory and leaves it. Meanwhile his staff are left to explain it all as the work of a genius without his participation. If he does not like what they say he just expresses what he wants and leaves them to explain the contradictions.
11
You are so right!
I wish you were president instead. How come you're not?
2
I read, so I can discern what is reported in the news beyond the hype. It takes whole lot of real world experience to lead well.
1
Your comment sounds a bit enthusiastic. If you are not serious and are mocking my presumptive attitude in regards to judging the President, you would not be unfair. But my opinion comes from comparing Trump with the leaders who have achieved success in high office, and he just does not measure up.
Trump's aggressive rhetoric reflecting the trade hardliners that want to change the way China does business was whittled down by Mnuchin who wanted a trade surplus reduction number from China. Much has been made of the barriers to China's market that are extremely resistant to change. The article implies that the Chinese were willing to engage in actual negotiations on the subject but avoided that by taking advantage of divisions in Trump's advisors. Thus spoiling a real deal. The fear of a trade war certainly would have had unknown consequences and Trump doesn't really know his own mind. Especially the way the stock market reacted and the cries of farmers in important Republican states. So the fear of a trade war was great enough to give Mnuchin the advantage.
2
The decision by China to reduce tariffs on imported cars from 25 to 15 per cent represents a major concession to bridge the gap. Apple will be relieved their operations in China will not get caught up in any extended trade war. China has everything to gain by respecting the US in reducing the growing US trade deficit. The next topic of conversation namely Korea will be far more difficult and potentially disastrous given the diplomatic inexperience on both sides. Iran deal serves as a reminder.
At least with a Trump administration we know that any agreement reached MAY have some collateral benefits to the USA.
Equally, we can be certain that any agreement made by the theoretical Clinton administration would be a mitigated disaster for the USA's economy.
Please don't say we, when you quite clearly mean 'I'.
You're really ruminating about hypothetical agreements made by a person who is not President in some sort of weird effort to bolster Trump upon news of his most recent inept failure?
Carry on, I guess.
Knock yourself out with hypotheticals.
The rest of us have our eye on the ball.
6
You just used "certain" and "theoretical" in the same sentence. Not a compelling way to win an argument.
4
Perhaps Mr. Ross can repeat his success as co-chair of the Bank of Cyprus which at the time was the favourite place for the Russian oligarchs to hide & launder their illegally obtained money.
Perhaps he could open a bank in Macau and make a killing by selling benefits to both sides while of course the non 1% get the shaft but no health care.
America , what have you done to yourself ! Are you really not better than Trump , his abettors and the vile GOP ?
14
How many times did we see like "drama" play out on episodes of The Apprentice? Chaos and dissent among the various team members, followed by a collapse in their project and, then, the great businessman presiding over the boardroom, where he would fire someone for some trivial, unrelated reason.
18
Not once. Never wasted my time on the program.
4
Actually, not once, but I'll take your word for it, Dan.
4
You are SO insightful. I wish you were president instead. How come you're not?
"Deep divisions and ceaseless jockeying for influence in the White House’s trade team helped deprive Mr. Trump of a quick win on his most cherished policy agenda."
More accurately, this is what happens when people who's knowledge of strategy comes from playing with Lincoln Logs think they can easily outwit those who are master chess players. Or, more aptly in this case, master Go players.
I've also seen mosquitoes with a greater attention span than our talking yam in the White House.
Beyond the lack of negotiating skills and attention spans, this failure shows what happens when corruption engulfs an administration. Everyone in the Trump Administration is out for themselves. The most ubiquitous trait of those currently advising Trump is that they are all self-absorbed, self-serving backstabbers, who will do anything to get ahead. No wonder Trump hired them, it must have been like looking into a mirror.
The mind numbing incompetence of this Reign of Error continues. No doubt, the worse it gets, the more the ideologues will sing it's praises.
Considering how fact challenged his base is, I find it strange that Trump doesn't simply say, "Big win against China!", let the propaganda puppets at Fox regurgitate it, and call it a day.
28
I'm so tired of winning!
17
Next time maybe we elect a leader?
16
You mean that whole art of the deal thing was just another con job??
24
It's taken you 16 months?
The main recipients of all the bad news from this corrupt administration is the American people in general...From Trump on down to Mnuchin...Kelly....Conway...Sanders and those in between..they have no real stake in our future...They keep funneling money to their accounts ...They care on for themselves...Who Will Stand Up And Take Him Down?...No Heroes?
7
This article highlights the problem (and it is the same problem each time) I always raise when people say we need to focus on Trump's policies and not his character or personality. For the most part the merits of any policy or plan that involves the Trump administration are moot because he is unqualified for his office and, even worse, has a preternatural instinct for exacerbating any conflict.
Listening to political analysts discussing whether a given plan will work for this administration (North Korea, the Nuclear Deal, China, etc.) is strange. To me it is as if sports analysts were diagramming a basketball play that ends with me dunking the ball. Anyone who knew me would know that it doesn't MATTER what they draw up on paper... I can't dunk!
Similarly, a policy plan that requires Trump to stick to a plan, restrain himself or generally act in a reasonable manner is usually doomed. With the exception of the tax bill (rammed through a Congress with donors screaming threats if it failed), Trump's accomplishments hinge on his ability to take unilateral action. He can destroy deals and relationships, but cannot build them. The infighting within his own ranks reflects the toxic environment Trump PURPOSEFULLY creates (he openly admits his love of conflict).
"Bulls in china shops," do not replace the delicate and valuable things they break with newer, better objects. Nothing is really being "renegotiated," just shattered and broken. THAT is the Trump foreign policy.
19
"But the Chinese were not willing to make an outright commitment to reduce the trade deficit by a specific dollar figure, believing that trade balances are the result of broader economic factors, such as currency valuations and economic growth, and such a commitment could set off more conflict with the United States down the road."
Once again, China proves itself smarter than "team trump". These guys, especially trump, aren't smart enough to predict that the last domino will fall when you push the first. Why are we letting them stomp around in the world economy?
I'm not looking forward to the end of this. "You ain't seen nothin yet" is what comes to mind every time I hear of another fiasco by these clowns. It's going to get much worse.
19
I, for one, am starting to get a little tired of all the winning.
Trump thinks he is conning the Chinese, but has not yet figured out yet that HE is the mark.
11
Its called playing checkers while the other side is playing 3D chess
6
Yet the Breitbart base still thinks Trump is the one playing chess.
But anyone who has ever played chess knows that the king has very little power and can only move one square at a time. It is the queen who holds the power and it looks like Queen Stormy might take out the king before long:)
1
"He and Mr. Navarro stepped outside to engage in a profanity-laced shouting match,..."
Care to elaborate?
https://giphy.com/gifs/cat-sass-sassy-nail-filing-3ViDyv13D9HQQ
With TV economist impersonator Larry Kudrow on the team this show tariff show will be canceled as all his were.
5
Trump is the kind of manager that instills fear and uncertainty in a business. That lack of confidence and bullying that is cause for uncertainty leads to lower productivity and the propensity to cause the enterprise or business to fail. That is what we are seeing with the Trump style of management. He is too busy worrying about what the Russian election probe will turn up and keeps trying to undermine the rule of law. A good board, in this case, Congress would either rein him in or replace him.
3
Good Trump took on this issue as he promised.
Is it realistic to think either side will 'fall in line' within a few weeks?
So, President Trump wants a "win" in his trade dealings with China? Who wouldn't?
But where is all of the hard work that normally precedes any success in the real world? Where is all of the tedious background work, the team-building, the studying, the research, the development of a viable plan? Where is all of the effort that typically is the basis of success? We don't see any of that in this case (or anywhere else in this administration, for that matter).
President Trump seems to believe that "winning," or negotiating a successful and mutually-beneficial trade deal is a walk-on act, something to be accomplished by pure force of personality, augmented by braggadocio and bombast, rather like a staged magic trick. Maybe it worked that way on his heavily-scripted television show, but surprise, surprise, surprise! In the real world, t'ain't necessarily so!
In the real world, success only comes after much hard work, often tedious and monotonous work. Success on the golf course is always a "gimme" for Mr. Trump. Success in trade negotiations with a diligent, determined and well-prepared trade partner, in an adversarial role, is quite a different matter. Adverse to doing his homework, Mr. Trump is bound to fail to achieve anything of real, substantial and long-term benefit to America.
#SAD!
3
Of course Trump got rolled by China. He was out negotiated by the Chinese, the one skill he was supposed to have. Maybe if he hadn't alienated the rest of the industrialized world, he could have had them on his side in curbing Chinese industrial espionage, subsidies of local industries and theft of intellectual property. Instead the Chinese invested half a billion in a Trump property and he rolled over. Pathetic.
5
The Trump trade deficit "plan" is to make us farmers? The Chinese negotiators probably had to excuse themselves for a minute to contain themselves upon hearing this, because to urban Chinese there are few epitaphs stronger than to accuse another of being a "nong cun ren" (technically farmer, but meant to demean as peasant).
Sleep tight tonight we've got Trump's best and brightest on the job, pity they don't know anything about China.
1
They can't win because they are fighting the wrong war.
Numerous pundits have said that you can't manage trade by focusing on the deficits.
What we need is for trade to be fair. We need for the Chinese to stop stealing our intellectual property by forcing our technical companies to open their kimonos when selling them technology.
Trump and his team have acknowledged this problem numerous times, but when time comes to negotiate they give up the important items and focus on Chinese short term concessions.
1
Their mentors, Larry, Curly and Moe, are so proud of their students!
4
Deficit reductions. Specific deficit reductions. Strategies, shouting matches, forced technology transfers. Power, trade vacuums, hawks v. realists. Hello- where in all this sophisticated (except for the shouting match set-play) game-playing analysis- are those jobs that are coming back to America? You know, to make us great again?
And China has already aced us in advertising. “Made in China” has now become “Made responsibly in China”. Boy, am I relieved. Now I can buy lots of their stuff. Oh- guess I already do. Because that’s just about all that’s on the shelves.
Earth to base; wake up and smell the coffee. Please.
1
China, which is thousands of years old, thinks in terms of centuries, not weeks or even years. Slowly, but surely, they will absorb us as we run around pulling our hair out.
4
The faux populist gets overruled by his betters and nothing changes.
1
Amazing how liberals knock fake news - yet this article seems a prime example of that. Sure, the Trump administration includes conflicting voices. Maybe that's better than a team full of sycophants ? But the article appears to have carefully buried the punch-line - "Critics said Mr. Trump was at risk of jeopardizing a trade policy that had put China on the defensive for the first time in decades."
Read that again. "first time in decades". Anyone remember Obama getting China or anyone else who has been stealing our jobs to rethink their trade policy ? Sure, it's not a done-deal. And maybe nothing at all comes of it. But how is "putting China on the defensive for the first time in decades" not real progress ???
1
"But how is "putting China on the defensive for the first time in decades" not real progress ???"
Umm, maybe because it's absolutely meaningless in any tangible way for the average American? Amazing how little it takes to impress when it comes to the Trump administration.
6
China didn’t steal our jobs. Corporations did that. And they get rewarded with a big tax cut.
65
China didn't steal our jobs. We gave them away - in order to have cheap stuff at Walmart. Oh and the Dollar Store, and Hobby Lobby, and Sam's Club, and all the other stores filled with Chinese made goods that we seem addicted to. Notice that even DJT used Chinese steel in his buildings (cheaper than American! More profit for DJT!); Ivanka has much of her merchandise made in China (and none in the US); and Jared goes hat in hand to the Chinese for loans for his businesses. MAGA - hats and ties made, you guessed it, in China.
7
My teen could have done a better job! These keystone cops are pathetic "directed" by a pathetic excuse for a leader, who is obviously being paid off (financing for his Indonesia hotel). Tariffs, the ZTE debacle, all settled in China's favor. We get nothing real.
trump's only path is to keep up these appearances of engagement, that he will claim amount to success. Not only China but now even North Korea has played him.
Anyone disagreed with his assessment is attacked as a lier, or even a traitor. He'll just attack the attackers, and hope he doesn't end up in jail, where he'll hope to pardon himself. He demeans and doesn't respect the rule of law, anyway, so we can only expect more.
3
So you are saying, without the infighting, they would have made a good deal? That seems unlikely. It is more like they would have made a deal, but not necessarily a good deal.
4
I didn't get it that way. The infighting ruined any chance at a good deal. The outcome could have been just as bad without the profanity-laced argument and cross-purposes, but those didn't help. President Tough-on-Deals could have flushed it anyway.
I have to add that, that's quite an interesting photo of Mnuchin by Tom Brenner. We do indeed view this administration through a glass darkly.
8
Who knew this trade negotiations would be so hard?
Expect N. Korea talks to go similarly well.
13
Never forget our little Trump only hires the best people. He is a genius and known what he is doing. All is good sayeth FOX NEWS.
11
Oh, right the great negotiator. “Only I can do it”. Yeah, whatever.
12
Soooo much winning.
9
To recap, US trade policy toward China is to impose tariffs, but on second thought not impose them, but you never know, maybe we will after all, but we know for sure that the Commerce Dept has been ordered to save jobs at a Chinese company involved in unfair trade practices and espionage against the US. Got it?
32
They stole the that routine from Larry Curly and Moe. Next up: eye poking...
3
and of course there WAS that $500 Million tit for tat with the ZTE firm
2
It would be amusing to watch President Xi run circles around Trump and his henchmen, if so much was not at stake.
Of course, in Trumpworld, it is perception that matters most.
Donald will do a victory lap proclaiming how tough he is on China and his adoring fans will no doubt swoon. Red state farmers will run to the polls to support their President, though the actual results of his negotiations are not likely to known for 2-3 years.
As predictable as rain will be the eventual en mass entry of Chinese manufactured vehicles into the US marketplace. This, along with an economic downturn will cripple US auto manufacturing once and for all.
China is becoming the worlds No.1
Superpower by emulating what the United States did in the last century.
Nothing that the Trump administration has done so far seems likely to change that.
20
All the best people. What a circus show.
22
Aside from all the gossip-mongering so beloved by those suffering from stunted developed, isn't it possible that this pause in the application of disincentives vis-a-vis China might have something to do with the upcoming discussions with North Korea?
Dunno. They have not yet proven they can walk and chew gum at the same time. So who knows what's going between their four collective brain cells. More to come...
3
The DJT administration made many pronouncements about how bad prior treaties were getting the better advantage over the US economy. No reporter, Democratic candidate or anyone else but the DJT administration made the decision to shift trade negotiations from a strategy of establishing multilateral agreements to a strategy of negotiating separate bi(tri)lateral agreements. At present the shift does not appear to be making much progress in improving or strengthening the US position in the world economy.
10
At least Trump is doing something. He is doing it badly- ineptly- but he is doing something.
The wealth of this nation has been frittered away in wars and bad trade policies. Our middle class is being hollowed out so the top 1% can make astronomical amounts of money.
Something has to change or else we won't be able to have wars every year and wars, apparently, are the only things we care about.
2
This a wonderful statement, I suspect, of the basic rationale behind voting for Trump: Anything is better than "same old, same old."
We'll see.
6
You seem to have missed trump's tax bill. He took more money from the working class and gave it to the wealthy. And trade wars/disputes will only drive prices up. One more blow to the workers.
So if your belief is that it's better for trump to destroy everything than for things to be imperfect then you're getting what you deserve.
For most of the rest of America that's a bad idea. We would rather work with the system as it is and make changes to improve our country and the world. I suggest that you step aside and let those of us willing to get our hands dirty with work do what's needed.
4
Chaos is a ladder, except it is mostly the one-percenters who have the means to climb it. The rest of us, especially many status-quo-disaffected Trump voters, are going to be used as stepping stones for the ceaseless climb.
1
I am no fan of Trump but blaming him is ridiculous. There was no "victory" to be won. There can only be give and take. China is able to economically challenge the US in a way no one has been able to since the US ascended to the top when Europe declined in the 20th century. Trump's flaw (in this case) was lying to his base first that all the jobs would come back and that a trade war would be easy to win. Anyone in the know is well aware that even in China manufacturing jobs are being automated rapidly (in fact its happening even faster there). Its not China's fault that while the US wasted trillions on wars - they took all the reserves they earned being world's sweatshop - and built unprecedented infrastructure and is graduating unprecedented numbers of engineers. They no longer wanted to be a sweatshop. Which brings to the next point. Under WTO rules China is still a developing country so it can require joint ventures and tech transfer. Unless you amend the WTO then the only thing to do is negotiate. The US will most likely have to allow China to buy US tech directly. That may fly against US sensibilities of always being in the drivers seat - but times have changed. Huffing and puffing wont work.
5
Xi Jinping is 5 feet 11 inches tall. Standing next to him in the article photo, Trump does not look to be four inches taller as he alleges to be. Why is this relavent? The guy lies about everything including his height. The Chinese know exactly what what to expect from him and his team and they have clear objectives. Trump has no clear objectives or strategy for trade or anything else. As long as he "wins".
23
Make no mistake. Trump is in charge. And Trump is incompetent.
For all of you Trump supporters, recall Samuel L. Jackson's opening line from the car cleaning scene because this is what should be said to you each and every day.
'Aw man, I will never forgive you for this. This is some messed up, repugnant stuff.'
18
The Trump administration has no cohesive plan, no ability to decide, and can't be relied upon to keep any agreements made.
19
This is what a rudderless ship looks like, with added entertainment as the various ensigns rush the bridge to battle over a tiller connected to thin air. Somebody get Mr. Trump some ball bearings to rattle in his hand and maybe a potted palm or two, what can possibly go wrong?
16
This is what happens when you make "loyalty" to the boos the top priority. You get office politics and everyone jockeying for position.
6
Remember how Nigel Farage and BoJo the Clown led the charge to Brexit, then were nowhere to be found after the vote passed?
Demolition is the easy part of any remodelling.
But you need a real builder to rebuild it, not just some reality show builder who pretends he knows how to build things on TV.
16
Imagine Trump as the new-hire kid at the corner drugstore. He's hired to sweep up but he can't handle a broom. Do you keep him on or let him go (for incompetence)? In the Constitution there is no provision other than Impeachment for getting rid of a bad President. Impeachment depends on statesman-like behavior among Congressmen. The number of statesmen in Congress can be counted on one hand.
12
Actually the 25th amendment was tailor made for this president.Unfit and on the take…a twofer for the 45th and the whole republican congress.
1
Our pitiful, incompetant and unpricipled dealings with the Chinese may simply be karma. For two centuries, western powers have bullied weaker nations around the world with gun ships and watered down ideologies of free trade in order to force addiction of consumer poisen like opium and sugar water. After fueling warfare in far off places during the cold war, we are finally faced with an immutable example of a cunning, self serving nation that has played our game better than we ever have. China uses trade rhetoric to their advantage, professing global prosperity, all the while keeping the enemy salivating over vague promises of a billion consumers and nuclear peace. Now that the free trade lecture serves China more than the West, it is interesting how quickly it will be buried by American desperation. We need to find a middle ground that serves the long term.
7
Now everyone knows why Trump companies went bankrupt six times.
27
Not a big surprise with this, Trump promises the moon to his followers, claims that he has easy answers to complex problems, and when faced with reality is surprisingly mum about how little he has done..and his followers sit their believing Trump is making miracles happen. It doesn't hurt that the economy, at least if you look at the stock market and unemployment, seems great, and I am sure Fox News is telling middle america they are doing great.
Trump claimed he was going to get rid of ACA and give them health care that was gonna be great....bust. Said the tax cut was going to benefit the middle and working class the most, that he was going to close loopholes like the earned income credit hedge fund managers use...bust
Trump said he was going to get tough on those who sell stuff to bad regimes..went after ZTE, suddenly, because of Chinese jobs, he recants..bust (sold stuff to N. Korea and Iran).
Trump blustered he was going to force China to trade fairly....farmers feel the impact, and suddenly it is "oh, we declared a truce and will negotiate in the future"....China dropping tarrifs on imported cars? Meaningless, car makers are there already. China saying "we will buy more?". Meaningless, especially in the face of the reality that you never know what the Chinese government will do, they say yes a lot when they mean no...
As Trump said in his own book, you can't con people forever, and even Trump nation eventually is gonna say "show me the money"...
14
do any of these 'gentlemen' have any experience in negotiating with foreign governments?
9
Has there ever been such a non-professional team in office?
Can we repair the damage to the nation after Trump is in prison?
6
The problem is, even if this government could be replaced tomorrow, along with the even deeper divisions Trump has further fostered in America, he has filled the courts with conservative/corporate judges who will attempt to block a reversal of this nightmare. In dismantling institutions, they will have done considerable damage in a very short time and if the Republicans maintain control of the Congress, the grim future of America going forward and NOT as we have known it, will take decades to undo.
Has anyone seen Trump's Wharton degree ??? And if so where is his transcript ? He insisted Obama should release his grades so why hasn't he released his ?
8
Trump did not go to Wharton. That is the graduate school of business at the University of Pennsylvania. Trump went to Penn for his last two years of undergraduate work, and never went to grad school. He likes to pretend he went to Wharton, but he didn't. Just another Trump fib.
12
Wharton does indeed have an undergraduate program for economic degrees and not MBA's. But you are correct that Trump does not have an MBA.
This dispute in the amongst our trade officials is occasioned by arguments over which of them and their backers should benefit most from their solution. It has absolutely nothing to do with benefitting American citizens who work for a living.
6
Trump is the first president in 30 years who understands that the United States is broke, and in danger of losing is currency. When the currency goes, the price of imported products -- such as gasoline -- will go significantly up. The NY Times readers here, sniping at Trump, are missing the issues. Visit Asia and see what it is like to ride a motorbike because gasoline is prohibitively expensive. Keep moving the industrial base overseas -- and that is the economy we will have.
2
And what effect does giving the 1% a tax break have????
4
In reality, by providing the tax cuts to business, in particular, one small part of the so-called bill not readily discussed was to actually make it "easier" for American business to move their production overseas.
This was a bill created by Republicans FOR Republicans and Trump probably never even read it. He understands NOTHING of what is happening in the United States or the world in general.
3
Price of gas here has already gone up, dude.
1
Wall Street is reporting a dramatic increase in absenteeism. It seems that most are calling in sick with symptoms of whiplash. Some are considering creating a new economic indicator to measure the phenomenon. The Exhaustion Index.
Who knew that “all of the above (eventually)” was not a correct answer in international relations? Or anything else for that matter.
3
So much for Trump's concept of a "team." Not to mention how much better we might be doing as part of TPP.
3
Let’s classify this story under: Today’s least surprising news.
The chaos and ineptitude starts at the top and seeps downward. Clowns bopping other clowns over the head is only slightly entertaining, and certainly not effective in running trade policy.
6
Nothing beats having a strong leader with a firm grasp of the subject matter directing the troops, and nothing's worse than having an amateur who doesn't understand the situation calling the shots. This is the Trump administration: an ignorant bully dictating terms to his minions, who are then left to try to salvage something comprehensible from the shambolic mess. America looks more like a collection of fools with every passing day. Oh, how far we've fallen.
8
Chinese negotiation is includes constant tricks, ruses, actors who pretend to have authority when they don’t and others who have authority but pretend to have none. There is a very common saying in China “able cheat, then cheat” which is central to doing business with Chinese, meaning Honesty is for chumps. For his ego, Trump will like sign a bad deal with promises the Chinese never intended to keep.
1
Political hacks in over their heads and flailing around like weekenders trying to look like they know what they're doing. We've gone from one of the most competent countries to a shambolic mess. "All the winning?" – or all the whining more like it per medium of the great negotiator Trump who gives away the store and asks nothing in return. Larry Kudlow – Chief Economic Adviser, what a perverse and pathetic joke, I still can't believe it.
18
Well, there *are* tools that the Trump administration could deploy, such as TPP and Nafta, that were designed to create a trading block that produces leverage over China.
Instead, Trump and his Trumpkins want to confront China on their own, with nothing more than Twitter to grunt Trump's incoherent thoughts. There the Trump people stand, with tin pots on their heads and wooden swords in their hands to confront an exceedingly adept China.
To Trumpkins: this is why you need educated people to run this nation. The harsh reality that you fail to confront is that Trump is no businessman, Trump is no leader. And we're all paying for it in many ways, one of which is the discordant nature of these trade talks which ought to have careful, skillful deliberation behind them.
God save our nation.
35
So articulate, informed and rational.... but you patronize like an aristocrat and you and name-call like you're at the schoolyard. In my view, Charles, this comment gives education a bad name.
I doubt that we can determine from this clearly biased, early appraisal of Trump's efforts whether or not his negotiators are using the various instruments for leverage, or in some other useful manner (that you find sufficiently sophisticated).
Only the best people. Only the best.
17
Trump is the worst advert for America.
China knows how to play Trump as a puppet.
2
If Steve Mnuchin gets the better of Peter Navarro, the latter will further imperil San Clemente Island by urging Trump to bomb it to smithereens. The Chinese have to know the President means business!
For his part, Mnuchin knows how quickly tech is evolving, leading to forced obsolescence, so why not make a quick buck selling militarily sensitive stuff to China.
The Chinese have probably readied a case of ersatz Geritol & a pair of custom made Romeos to be gifted to Wilbur Ross.
Meanwhile Larry Kudlow anticipates a prominent role in a post-Trump movie from Warren Beatty entitled Feds.
2
According to the article, the Chinese believe, “that trade balances are the result of broader economic factors, such as currency valuations and economic growth.” Isn’t that what free market economies, like the U.S., used to think? It sounds like what Trump & Co have in mind now is more like a five-year plan. Yet one more irony that the GOP somehow fails to grasp in its mindless support of the whiner-in-chief.
15
Liz i think you misspelled winner
Trump targets his messages specifically for the people who listen to him and believe his lies. Reassuring farmers that China will keep buying their products is his way of getting them to vote for Republicans who support Trump in November.
Like most politicians, Trump is on a perpetual campaign. He doesn't actually govern; his occupation is in media communications. He's the face of the Republican party who goes out and says "folksy" stuff to The Heartland, spewing invective about the millions of Americans who live in big liberal cities, and reassuring "his" people that only they are the True Americans. The rest of us 285 million who didn't vote for him apparently count for nothing.
What continues to boggle my mind is, that in a country of 350 million people, only 124 million voted, and of those only 60 million actually voted for him. A fraction of the people in this country put this menace to democracy in office.
45
Allison, let's not confuse "folksy" with "vulgar".
Correct headline:
"Trump team's stupidity and selfishness cost America dearly"
26
China sells America goods that people buy and improve their standard of living.
The Trump regime is being bossed by China.
1
I'm so tired of winning, I can't take it anymore!
23
That is the cost of "GREATNESS"!
3
What irony, the Chinese who have so much experience with warlords are dealing with a warlord USA administration.
14
Arrogant Trump behaves as if all this Preznintin' is easy and that foolish, sad, inept Barack Obama couldn't get anything done (even though he did, quite a bit), so he fires off a fusillade of tweets on China and North Korea, then quickly backs off both when he gets the merest hint of an entreaty from the other side. He's absolutely the worst deal-maker to ever inhabit the White House, one without any sense of strategy, planning or patience. But hey, Middle America, you got your "businessman not a politician" -- hope you like the results.
27
China ceased purchases of U.S. soybeans in April, at the very threat of tariffs. A trade war is already in progress and US farmers are losing $ millions.
24
And yet they helped put him in power. Talk about karma.
1
Lighthizer and Navarro are the counterpart
of Bolton and Pompeo on trade. Issue threat,
intimidate and others will bow down. Trump
and his advisors are not addressing the root
cause of trade deficit: low American savings
and high consumption. This imbalance
results in higher imports and perpetual trade
deficit. In 1980s it was the same against
Japan, now it is China and next will be
Germany. It is ridiculous to surmise these
countries are exploiting America. Chinese,
Japanese and Germans understand the real
reason for America's trade deficit and unlikely
to agree to its demand. The disagreement
between Mnuchen and Lighthizer is good.
Someone has to keep the war mongers in
check. What Mnuchen is doing on trade and, hopefully,Pentagon will do the same to Bolton.
12
Hmmm from WSJ:
"The U.S. and China are moving closer toward resolving their trade dispute, with the two sides agreeing on the outlines of a reprieve for Chinese telecom giant ZTE and Beijing easing tariffs on imported cars."
2
This administration is constantly reminding me of a saying about monkeys and footballs, that I cannot repeat here.
What is not funny and truly frightening, however, is the nature of the football.
3
Trump: "I am not a president, but I play one on TV."
26
Trump has proven to be the best of every possible thing that he does in his peculiar little mind. That seems to be enough for the republicans whose collective mind seems to have nothing in it at all.
19
But the owners of the Republicans are robbing us blind in ways we have yet to fully comprehend. We are one disaster away from ruin.
6
Clown show.
The only bits missing from the usual tale of Trump is the Russian and the hooker.
15
The Chinese speak with one voice. Whether we like it or not, their system doesn't allow for egos or a transparent and open process for Chinese decision making.
Given that we expect US negotiators to keep Congress and the public informed of deliberations, the administration needs to find a balance that meets their needs for transparency but also demonstrates a united front. The Trump administration can't possibly do that because the President is concerned about claiming victory to stroke his political ego and he is also surrounded by sycophants.
I'm so tired of winning!
8
When a lack of preparation, skilled expert input and disorganized leadership meet the result looks a lot like the US' trade negotiations. What a thundering mess!
14
Trump is the now American version of Putin. ...or trying to be such.. The Republicans who took an oath, on the bible for those of them who consider themselves good Christians or Jews or Muslims or whatever faith they claim for themselves are certainly party to these acts of turning our democrarcy into shambles.
His disregard to almost anything other than what pops nto his mind and his blatant use of power to remove any obstacle in his way is unprecedented in its extent and lack of oversight by the Republicans.
Nunes is one of the prime stooges and McConnell is simply doing what he did to Obama by refusing to cooperate on anything.
The Democrats are simply cowards in that they really did not put up any fight, any attempt to stop this onslaught of misuse of power.
On top of this is the apparent huge conflict of interest with his decisions to back off on many of his plans to sanction people and countries and the coincidental rise of the fortunes of in the trump enterprises that have been reported in the media --excluding of course, the faux fox news.have been reported
6
Could someone tell me how a specific target such as $200B could be achieved? Would the Chinese government just buy a bunch of stuff they don't want or need?
9
It was a really stupid idea, followed up with worse execution.
The only reason this administration has only done major damage but not completely destroyed anything and everything that makes America great is their staggering incompetence and ignorance.
Three cheers for stupid? Yeah?
18
A country without an economic policy run by an administration trying to create trade policy from random illiterate tweets from an ignorant candidate turned unexpectedly into our laughing stock president.
This is the ultimate threat to the Fed who is trying to manage economic easing without upending the housing and banking cart while balancing interest rate increases over the next 12 months.
And along comes the tariff winds and blustering cabinet members sucking all the air out of the future's economic balloon.
26
This Administration could not empty a combat boot of sand/water if the instructions were written on the SOULS.... That is because they will lead our Military into some God Forsaken War.... " Father , forgive them. for the do knot know"....
6
The Chinese: "Hey, how's that Liberté of thought working out for you?"
5
In a leaderless administration, all the players are grabbing for all the power they can get or biding their time for a tell-all book later.
16
Is anyone surprised?
12
Senator Marco Rubio, Republican of Florida: “China is winning the negotiations,” he wrote on Twitter. “Their concessions are things they planned to do anyways.”
9
Yeah, Rubio is going to run for president, again.
Trump and his accomplices share a tragic flaw with Napoleon; they all have forgotten that peace is above war. With them everything is a fight; they create unnecessary conflicts with virtually everyone; they fight with friends and enemies alike and they fight among themselves. Their approach to foreign and domestic relations resembles a constant game of Russian roulette: Trump puts a single bullet in the chamber, points it at our Nation and pulls the trigger. Like Napoleon Trump will certainly meet his Waterloo, but will that bullet in the chamber fire and kill our Nation before Trump is defeated?
5
Infighting might have made it worse. But that's not what snatched the defeat from the jaws of victory, for there was no victory to begin with. The trade war was going to hurt the both parties equally and it was the matter of who could endure the pain more. There was no doubt that China would come out on top on that account and therefore the US had no leverage.
The US can prod the change. But it is no longer possible for the US to hold a gun to China's head and demand.
76
The Emperor of Chaos. And ice cream.
15
“Last week, the Chinese came to the United States prepared to deal, both by making numerical commitments to buy American goods and by promising structural changes to their economy.”
Who writes this stuff, Jar Jar Binks? The Chinese never come to deal, they come to obfuscate, sow doubt, lie, and delay to give themselves more time to consolidate their positions and make them impregnable. A quick review of their reassurances concerning the artificial islands in the South China Sea is illustrative of their tactics. Why anyone cares what China says is beyond me.
3
Let's never forget which party has reeked this havoc on our great nation. Let's tell this story to our children and their children. What the Republican Party has done to the United States of America is unforgivable. Vote.
28
If, by "havoc" you mean the destruction of America's working class since the later part of the last century, largely to the benefit of China, I think you would be very mistaken to conclude that the Democratic party is without blame.
1
So, Trump's efforts are all 'shriveled up'? A little juvenile of the editorial staff, I'd say. It's still a little early for second-guessing, IMO. If all steps of the negotiation process have to pass NYT muster I think the final product would be far from optimal, at least for us.
1
"Infighting Thwarts Victory on China Trade"
No, "Gross Incompetence of Trump Team Thwarts Victory."
Or, "Gross Corruption of Trump Team Thwarts Victory."
12
This is the problem in dealing with the Trump administration - chaos. President Trump likes to play with matches expecting he will never get burned. The problem with the chaos strategy is that eventually no one can be sure if the administration can be believed. With Trump everything is temporary, with only one goal in mind - winning, whatever that might mean. The real problem here is that there is no clear policy being pursued by Trump and his team. Nothing is thought out because the President is intellectually incapable of doing the hard work required to sort out viable policy options to chart a productive course. In short, Trump and his team don't know what they are doing.
24
Mr. Trump can't win on this. He is incompetent and has demonstrated his incompetency with his choice of team players. He mistakenly thinks his tiny view of the world is the world and is easily distracted by simple agreements to allow him his name trademarked, his daughters clothing line manufactured and investments into his projects.
His voter base is going to be paying a lot more for their packs of pocket tee shirts at Walmart come November. Perhaps they will stay home from the election, or even switch to the party that has their needs at its heart. Trump can not win, and therefore, we will lose while he is in power and unchecked.
8
China, of course, has done its homework thoroughly.
Trump never in his life even understood what homework was for.
39
While the idea of "infighting" is probably exaggerated by 20% so that the Times can meet it's "Resistance" criticism quota for the day, there is no doubt that Trump's preference for highly disparate views within his Administration is not helpful at this juncture. As the Times notes, the Chinese were on the defensive for the first time in years, and somehow the Administration has walked away with very little.
3
You've hit a key point which affects everything the administration does. Turmoil for the sake of turmoil is not a good management strategy. The Trump administration is not a collection of conflicting voices that eventually determine a solid strategy. It's just a bunch of ideologues shouting into the well with little to nothing to show in terms of accomplishments.
15
You now consider that the NYT exxagerated by about 20%. Then if my simple arithmetic is correct, then you agree that 100% of the Tmes reporting is accurate.
Yup! I agree.
this is also what happens when you have poor management by an executive that no one really respects. Everyone on the team thinks they are smarter than the boss so they start pushing their own agenda and jockeying for the top. This is what happens when coherent policy does not get set by a thoughtful, respected, consistent, trustworthy CEO.
1
One would think that any competent administrator would have sent a unified team to these talks so as to present the other side with a unified front. Evidently Trump does not see the value of unity unless he means to leave the Chinese rolling on the floor laughing themselves to death. Yes, that must be it, a cunning plan hatched by the Donald himself. Sigh.....
21
To the US Government:
Stay out of, and don't interfere, with my relationship with China. They supply me with everything I want and intend to buy in the future and the quality is the best in this World!
5
You forgot to add that he knows it, we know it and everytone knows it.
1
That's as good an endorsement of a Godless authoritarian regime as I've ever heard.
Another Republican for authoritarianism!
1
Trump being the way he is, he most likely will fail to take the obvious lessons from his difficulties in "negotiating" with China. One is that the world's largest country is not easily bullied by rude, loud, incompetent Americans. Another is that the Chinese, not being from the reality TV world, have specific goals and the discipline to work toward those goals in an organized way. And, one thing that experienced diplomats know is that it really helps to understand the other culture you are trying to deal with, and to treat them respectfully. (Maybe Trump shouldn't have trashed the State Dept?). Trump will probably not see the other obvious lesson: if the head of a team is self centered, disorganized, and impulsive, the rest of the team may have trouble "following" when there is no lead. If he were a thoughtful person, it might dawn on Trump how much US work he threw out when he withdrew from the Iran nuclear treaty.
20
Despite the rank incompetence, Wall Street seems to love it.... Big rally on Monday based on what exactly?
4
Based largely on what didn't happen; a trade war. The private sector understands that getting things done is messy. You know, getting your hands dirty. No messier leader than Trump but the 'no drama' approach didn't accomplish many tangible results, did it?
3
We have yet to see what Trump's chaos and turmoil will eventually do to the markets. There will be a price to pay for this instability.
Wall street is a contrary predictor of what the average, or probably 70% of americans would like to be able to live reasonably.
Wall strett moves when positively when the flow of money is NOT interrupted and the bottom lines of the corporate industries increase.
2
How much is incompetence and infighting vs Trump caving now that China is investing in his project? 50-50? 30-70? Amazing how his adoring fans don't see this for what is - we have a Banana Republic president in a cheap, ill fitting suit whose only concern is lining his own pockets and not helping those who elected him into office.
14
Trump must have been asleep in class during his days at Wharton. Why else would he have such as skewed vision of macroeconomics and trade?
12
Amateur Hour.
14
Will the Chinese ever get tired of winning?
23
Why are is the New York Times writing about "trade wins" and "trade victories?" Isn't trade supposed to be mutually beneficial? We must be more deeply immersed in a Trumpian underworld than I realized.
1
Trade war is an accepted term of art in economics; the nonsense about "winning" is Trumpian baloney sausage, par for the course. NYT is just using the same terminology. Now if only it would take the gloves all the way up and call Trump out for the liar he is instead of using sissy words like "obfuscating," "alternative facts," "did not agree with the statement(s) made by so and so," etc.
4
Isn't a trade war the opposite of a trade agreement. I thought Trump, the world's best negotiator, was supposed to be seeking a trade agreement, not a trade victory.
This dysfunctional team negotiating trade for the U.S. may not be able to win but it won't keep the boss from declaring a major victory. What really matters to this administration is the perception of winning not the real outcome of the negotiations
6
“Ceaseless infighting and jockeying for influence on the White House’s trade team helped deprive Mr. Trump of a quick victory on his most cherished policy agenda”
This is absurd - Trump only cherishes himself - and perhaps his daughter. I’d have thought that was blatantly obvious... But I guess not.
12
China didn't agree to produce a fixed reduction in the bilateral trade deficit between the two countries, because only economic illiterates would seek such a meaningless measure of 'success'. Instead of regretting that Trump 'failed' to accomplish this absurd goal (only can be done if both countries' governments intervene heavily in the decisions of consumers and producers across the whole economy daily -- shades of Comecon!) we should be heartened that reason has in some sense prevailed (to the degree this is possible with Trump at the helm).
Molly, nothing remotely resembling "sense" came out of the Trump side negotiations. Give us all a break and get real, please!
2
The Trump administration is selling off our foreign and economic policies to the highest bidders. Naturally China and Saudi Arabia are at the head of the line to pay to play.
12
It is time for the people of the U.S. to rise up and rid ourselves of those like Wall St. corrupt Mnuchin before his ilk destroy our strengths by the corrupt deals he is attempting with China. I find his efforts traitorous.
5
What do you recommend - an armed revolution? Marching in the streets? Calling our "Congressional representatives and Senators," har! None of that will make a difference. The only thing that counts to them is our votes. As far as I'm concerned, from now on, anyone who votes for a Republican is a traitor to our nation. Period.
7
I have yet to see an example where the trump team sees the big picture or sees all (or most) possible outcomes to a decision. They seem to be working in their own silos with no regard to how their decisions and actions affect other priorities. They seem to be all like trump - making decisions based on what's good for them individually, not what's good for our country.
7
Trump must regret that he won the election.
It exposed his incompetence as a leader, team builder, deal maker, moral human being, and so forth.
As long as he could control the narrative from the shadows, he was able to craft a myth about himself...but the public scrutiny from being President pulled away the curtain.
7
Trumps team are social misfits with their bullying and power hungry ideas that is why their is such fighting. The left hand does not trust the right. We got over two more years of this chaos. When we Democrats take over in November we will rule to help heal America not divide it. President Obama was a class act you never heard this daily chaos from his team. Thank you Mr Obama I wish you never left.
6
Why does this article start with the bizarre assumption that there was some great victory readily within Trump's grasp? There was never any expect a trade war and the chaos of the Trump administration to lead to anything useful but the the headline is "thwart's victory" and lead talks of a "quick win. " This is more nonsense for the NY Times. Yesterday, it was credulous stenography of Giuliani's "quick end to the Russia investigation" today it's "trade wars are easy to win."
3
Well, forging diplomatic relations and large trade deals with large nations is a bit more nuanced and formidable a task as negotiating a deal for materials on a single building, eh Mr. President?
3
How about the in-fighting during the Obama China trade negotiations? Oh, there weren't any......
2
Wrong Ken. The Obama administration put tariffs on tires. It was a failure. They did negotiate a bilateral agreement called TPP. They did successfully negotiate with China on the Iran nuclear deal and got them to agree to carbon emission reduction and join the Paris agreement. They also successfully negotiated an agreement between our militaries to avoid potential disasters at sea. They also successfully negotiated concessions on intellectual property. What they didn't do is tweet about it.
1
This is another example of failed leadership. Trump is rudderless, without the strong internal convictions needed to assemble and inspire a coherent team. Instead we are busy stamping out the brush fires of the presidents mercurial approach to governance.
7
“Only the best people.” Trump is an incompetent, corrupt fool. Driving a wedge between his own team while negotiating with the Chinese. Who do you think will come out on top here?
Vote in November. Tick tock.
14
Our King Lear got outsmarted again. What a surprise!
10
Ms. Swanson, Mr. Landlar: thank you for your update on the trade discussions between the US / China. I never thought that trade between the US and China was a win or loose situation. Both countries benefit from increased trade. For the US, there's one main item that spans all trade issues. That is a level playing field. The thought of the US having to hand over intellectual rights on how products are developed, designed and manufactured is ludicrous. We never should participate in a any trade agreement in which our crown jewels are handed over to foreigners. The Chinese rule that requires foreigners must have a Chinese partner in order to establish a new factory works against any technologically advanced country. Rather than having to steal our trade secrets they're basically saying that if you wish to do business in China, please hand over the the technological data. We shouldn't agree to a trade in deal in which our companies are forced into marrying a partner who has different social and political ideas. The thought that China would become more democratic and malleable through increased trade with the Western countries hasn't happened. At least, not on any measurable scale. It was also naive for the US to imagine that it would happen. That being said, Trump's lack of trade knowledge, lack of leadership and total lack of negotiating skills allowed our team to go in unprepared. Hopefully, our negotiators will manage their ego's and overcome Trump's shortfalls.
4
Your points are well taken. It should give us pause to reconsider, in retrospect, the simplistic equation of "free markets" and "democracy" that was part of the neoliberal agenda in the 1980s and 90s.
One of the problems with the US position, however, is that it promotes a kind of economic nationalism with its international partners, but completely fails to address the root fact that Americans are hungry for cheap consumer goods. The US could deal with issues you raised by going after the rapacious American retailers who have precipitated this race to the bottom in global manufacturing. Yes, that means the big box stores like Walmart, etc. American are too accustomed to discounted rates when it comes to their electronics, as well as other goods. Americans should read every label on every product they buy, and express their nationalism not through simplistic jingos or flag waving, but with their wallets.
1
Richard--Oh, I see. You think WE can make ridiculous rules, that benefit only us, but nobody else can. Well that's how "fair and balanced" works for the donald, who says he wants to save Chinese jobs, after an infusion of half a billion dollars, into one of his Indonesian projects. Emoluments...
5
Mr. Kingston: Evidently you're educated about the various issues regarding international trade. We are paying a price for the previous trade decisions made by our politicians. The major corporations have fat check books and our politicians drooled at the thought of those checks being issued to their campaign funds. Certainly, trade would have been more balanced if playing fields were level at the start of our trade relationships. One thing is certain, we can't go back. Going forward, we can insist that tariffs on our exports are equivalent to those we collect on their exports. Same goes for freedom of trade in their country(ies). Last year I researched Chinese tariffs on Jeeps. A Jeep Grand Cherokee that cost $55,000 was marked up to over $100,000 in China due to additional tariffs. Hard to believe that we accepted this as a level playing field. If China wishes to open a factory in the US we don't have a regulation in place that states it must have a 50% American partner. Why must American companies have a Chinese partner. Hard to believe we allowed this type of shenanigan to continue for so long. I have no doubt, that given a level playing field our exports will increase. Especially now that Congress has removed the restrictions on energy exports. I concur with your statement about American's wishing for inexpensive consumer products. Going forward our government should fund R&D on high tech, value added products and focus our exports in those areas.
During the election Trump complained about non existent economic problems. Now he has no economic policy. Neither Trump nor Kudlow actually understand what is going on. They are just TV style talkers who speak to rubes.
Keep in mind that when Trump was negotiating with the bankers after his Atlantic City bankruptcy, one of the bankers was quoted as saying Trump "doesn't understand Economics 101"
20
What else is new? Incompetence is endemic at all levels in Trump's cocked-up so-called organization. We have come to expect nothing less. But nothing, not even Trump and his miserable bunch of misfits, can last forever.
15
All conjecture from sore losers...the election is over and you lost, get over it.
3
We all lost—you, me, and the rest of the country. Some of you just don’t recognize it yet.
9
Alternative facts are conjecture. Real news, fake President!
6
Trump supporters need to stop hiding behind this excuse for criticism of the Trump administration. This is a disaster at every level, an administration filled with corrupt, incompetent people who keep getting stabbed in the back by a president who can't take the blame for his own mistakes, but are fleecing the American public, including Trump voters. It has NOTHING to do with being sore losers.
7
Trump won the China trade deal. He got a 500 million dollar bribe I mean loan , no it's totally a bribe.
15
Clown Car
5
The clown car goes to China!!!
11
This is what happens when you have a "leader" who has no idea how to lead. A president who doesn't have the skill-set to "preside." A head of state whose head is in a very dark and smelly place.
11
OMG now the Times is quoting Steve Bannon as it's expert on trade knowhow? Do their reporters have no shame?
The Trump administration is trying to strengthen the US trade imbalance and intellectual property laws with China and the Times hopes it can't. Sad for them, their "journalists" and the American people.
2
After Trump held all those rallies hawking that book with his name on it as the second greatest book ever written -- grudgingly ceding rank to The Good Book (the original one, not the 1971 album by Melanie, not his wife) -- it must be a letdown of biblical proportions for his Branch Donaldians to see their Dear Leader fail to strike the massive deals he promised.
Moreover, he's not even meeting what he bigly promised most:
that he, himself, the greatest dealmaker that God ever created, would not remain on the sidelines when the deal game is on.
As with the Wall, a beautiful healthcare plan, and not forgetting the forgotten men and women of flyover country, Trump continues to prove he can sell, but he can't deal.
17
I am waiting to see how he will try to blame this particular mess on Obama and/or Hillary. And on those silly Chinese, who don't understand their role is to be so dazzled by Donald that they do whatever he says. Could it be that his "legendary" deal making skills are inadequate beyond the world of New York real estate?
6
In Politics it’s the best liar that takes home the prize, & there is no better liar than Trump.No matter what the Chinese,Trump,& North Korea agree upon, it’s a lie, & has nothing to do with what they agreed upon. For example the bail out of the Chinese Telecommunications Mega Co.is just to get China to help Trump get concessions from North Korea, & help Trump score points with his base, as the great negotiator.North Korea will agree to anything that Trump wants , in order to eliminate sanctions & use our agricultural expertise to help North Korea feed it’s people.Once everyone gets what he wants, every deal they made will fall apart. Trump will keep his Mandate & come away stronger than ever after the Mid Term Elections.The Chinese will have more of our market then they had before, & North Korea will begin to test their Rockets, in other words, the more things seem to change the more they stay the same.By the way, how many Factory Jobs have come back from China ?
6
Is anyone surprised? This is what you'd expect from a kakistocracy. And his electorate applauds.
9
This occurs because, as President, Trump is afraid to make decisions.
In his private life, his MO was to take actions which throw a situation into turmoil, then pull something good out of the mess he made. Every now and then it worked. When it didn't he could walk away from the messes, or if he got into a bad deal, the solution was bankruptcy.
As president, he is finding the turmoil he creates to be too complex, he does not understand his options, he can't identify the good from the bad, the messes he is unable to walk away from, bankruptcy is not an option. He will settle only for what he sees as clean, quick, definitive wins, and there are none available.
So now his favorite line is "we will see what happens" while he waits for moments of clarity which may never come. In the absence of direction from the president, his staff remains in a continuous state of debate and disagreement.
He has made it clear that he is the man, he makes the decisions, his staff is secondary and replaceable. That allows him to claim the victories but it lso makes him solely responsible for the failures, and he can't handle that.
16
Excellent and spot on!
1
Mark and Ana, the current administration led by Trump, the most unprepared president ever, is in total disarray to say it politely. Totally dangerous, to put it in a wider perspective.
We all know that Trump boasts and lies through his shirt sleeves.
But we didn't know that our current president, who's on the throes of being evicted from the White House for treacherous activities which can be called an act of treason, is dumb enough to give our adversaries, that is China in this case, all the ammunition to manipulate our country's top executives by bringing them on the opposite sides of each other as per as China's dangerous game of ruining a country's economy which they've done to us for years before Trump.
So what we've is a searing battle between dozens of Trump's cabinet members who instead of giving a sound and sensible advice to their president, are fighting an opaque and ongoing battle among themselves to gain a better pole position within themselves to win in this totally chaotic race of who has more say on this trade war with China.
Chinese officials on the other hand are getting an upper hand into their negotiations with their counterparts from the Trump officials. And they're enjoying every bit of their time that they're spending in U.S.as well the time when Trump officials go to China and fight openly outside the meeting rooms like your article mentioned about a raw and filthy letter worded battle between Steve Mnuchin and Peter Navarro like your article said.
5
All of this and...yeah...just wait until the deficit goes through the roof in a couple years thanks to tax breaks for the rich. Its a grey day for America...
14
The only thing Trump's trade policies will do, most of his policies actually, is make the United States more ripe for colonization.
7
This article focuses on the negatives at the expense of reporting the facts as a neutral observer. I urge anyone reading this to read the same coverage in the Wall Street Journal and Financial Times. It is like night and day. Where the NY Times focuses on shouting matches, chaos and failure (anything to make Trump look bad), the other two papers present an orderly negotiation where the two parties are rapidly reaching an acceptable solution. The US is getting large trade deficit reductions, elimination or reduced Chinese tariffs on US goods and more access to the Chinese economy. Maybe in the end it will be less than the $200 billion number floated a few days ago but it is still significant, good for American agriculture and businesses and a win for the US. You would never know that by just reading the N.Y. Times.
2
The minor reconfiguration that is occurring is just that, minor. China is girding up for genuine international trade, not just with U.S. As you reference the WSJ and the FT, let me remind you in the name of what you've forgotten: Man does not live by bread alone. Why we are losing out to China is not a trade issue; but a cultural and a national character issue.
The road to Hell is paved with the bones of mediocre leadership that refuses to acknowledge reality.
4
Trump never was a negotiator. He's a bully.
12
Leave it to The Times to undercut the first real opportunity to correct the trade imbalance with China. If it were left to the editors at The Times, China would be permitted to continue stealing American intellectual property and patents, and to flood the U.S. market with goods produced by people working for a fraction of the wages paid to U.S. workers. At least the Trump administration is doing something about it. Appeasement never works, in war or trade. Obama proved that age old axiom in both cases.
4
This silly paper keeps positing everything in terms of winning losing victory. It matters little what the human cost of anything is.
2
You mean the silly paper that you are reading? While trade can be mutually beneficial, often times one side comes out ahead of the other. The Times has extensive coverage of the human cost. Which Trump either fails to understand, or simply couldn’t care less about. Probably both. #Sad.
2
This is yet another prime example of the dysfunctional US government under the leadership of Donald Trump. Neither the left hand nor the right hand knows what the other is doing.
China will exploit this dysfunctional government to their ultimate advantage. They, unlike the Americans, are not stupid. And while the American cast of characters are not individually stupid, they are working for a leader who is not really a leader. Mr Trump does not understand trade policy. His ability to comprehend complex issues (and simple ones) is suspect and should leave Americans with an uneasy feeling about the direction that US trade policy is taking.
NAFTA is an excellent lesson in national policy that highlights the thinking of Trump. He portrayed the NAFTA agreement as somehow being unfair to the US (It was negotiated by Republicans by the way) so he decided to penalize two close allies (Canada and Mexico). NAFTA has been under renegotiation for some time now with many rounds of talks aimed at getting a revised agreement. Canada and Mexico are trying to appease Trump and his rapidly changing mind so we will have to wait a bit more to see what happens.
So, with a man who does not understand policy, trade or much of anything about government at the helm, and refusing to listen to the crew, might just find that the ship is slowly sinking and way off course (apologies to the Navy for the bad maritime metaphors). It should be fun for the next president to fix this mess.
11
The crew appears to be rather incompetent as well.
This story seems to cling to the notion of credibility in the most corrupt administration in history. Trump and his fellow criminals are serving up the nation to the oligarchy - pure and simple. If they are not stopped, America will become a third world nightmare, with few jobs, no hope and no clue.
13
"Most corrupt administration in history"
The Dems have their theme for mid terms.
4
Mr. Trump lacks any understanding of what it means to be a leader. If he worked where I worked, he'd have no one following him because he has no idea how to tend an organization. Demanding loyalty is not a leadership strategy, and I remain amazed that he's found enough people to keep his leaking ship afloat. This is no way to run anything, let alone a country.
23
Those who fail to prepare, prepare to fail. This short maxim is the problem with the Trump Administration. They do nothing before the momarrives, so there is no substance to their proposals or negotiations. We have a president who doesn't read, does everything by the seat of his pants, and hires folks who aren't trained to do the job for which they have been chosen.
11
Publicly undercutting and embarrassing employees, belittling people (particularly women), chronically lying, veering unpredictably from one idea to the next, promoting friction and factionalism (amongst your own employees), being easily offended, having a fragile ego, and being scandalously impatient: these are not leadership attributes.
It's time the GOP woke up to the fact that the White House is in complete disarray. And this has nothing to do with the Mueller investigation (nor the other pending lawsuits/investigations against the White House, and the President in particular).
15
A real leader gets opinions from his hirelings, and points the way. I suspect DJT's hirelings have no idea of his direction as it changes with every day and every Tweet - ergo, we get the chaos that is present. Chaos is not leadership. !
VOTE 2018 and 2020. Time to MAKE AMERICA GREAT AGAIN.
8
And the stock markets cheered a Republican pResident failing to achieve his trade "goals."
5
It makes interesting reading that Trump has surrounded himself with a waxworks full of idiots, swindlers, and thieves: Kudlow who led lemming investors off the Bear Stearns cliff on CNBC; Mnuchin who robo-signed thousands of illegal home foreclosures during the '08 meltdown; Stephen Moore from the Heritage Foundation who masterminded the voodoo-economics tax cut legislation and gets red in the face nightly on CNN trying to convince everyone that Mueller has found nothing and that Trump isn't up to his neck in Russians.
But what about the effect this dime novel is having on the rest of the world? We in Europe, and I think the Canadians and the Mexicans too, are starting to feel the real-world impact the Trump Mob is having on our economic, military, and national security stability. Half of the American electorate buries its head in the sand; the other half either sits on its hands or cheers Trump on; the Europeans provide polite admonitions from the sidelines, not wanting to further enrage a crackpot. It doesn't look like a story with a happy ending.
12
Phoenix.
Will something better arise from the ashes of this useless administration and dysfunctonal Congress?
Even the plutocrats must be getting a little nervous about these guys.
6
Or, is this mess what Bannon meant by setting a goal of "deconstructing the government?" The GOP sit quietly and complicitly and watch the destruction.
1
The trade war concept was a bad idea. The economy is solid. Imports and exports go up when the economy is growing. Exports are going up faster because we spend more than we save and produce.
This is not a zero sum game. The fact that we backed down isn't a lose for the USA it's a win. Does anyone believe that Trump can afford to disrupt the US economy going into the midterms? The only reason Trump is still President is the Republicans hold the key investigative committees and are letting him slide after destroying Mrs. Clinton. If we got into a trade war and the stock market and economy faltered the Democrats would be insured a midterm victory and complete control of Congressional investigations. Republican's ability to investigate as the majority party is what got Trump elected. Democratic control will finish him.
The trade war is on hold pending elections. Trump got lucky because he sent the gang that couldn't shoot straight to negotiate. If that was his plan he's pretty smart. If it wasn't, he's pretty lucky.
Trade is good. Trade wars are bad. China is not our enemy. The complete waste of capital on foreign wars while we allow our schools, health care system and infrastructure to crumble has been a disaster for our productivity and competitiveness. We have hundreds of thousands of young people who are disabled by drugs and wounds who have to be cared for. We will be importing labor for generations to fill that void.
2
China Contributes $500 Million to Trump-Linked Indonesia Project ...
This is what Trump is interested in. Making money for himself.
13
“they were not sure those promises would ultimately hold, according to people briefed on the discussions,” pretty much sums up what ‘negotiating’ with the Trump team looks like, whether it’s war, peace, or trade.
4
November can't come soon enough.
9
The so-called president and the art of the deal in action!
Do away with tariffs, return to the status quo ante and it's time for a parade! Strike up the band, roll out the red carpet, overbook the Scion hotels. Happy days are here again!
5
You realize this article is contradicted by numerous other news outlets and China. For example, the Wall Street Journal tells a totally different story.
Interesting. I would not say that the WSJ article contradicts this one, although the semantics are definitely different. Looking at the WSJ article, I would not call it a win for us if we bail out ZTE - that's a win for China. The car import concessions by China look interesting. Looks like the point of the NYT article is that Trump staffers are contradicting each other, whereas the WSJ article is focused on possible outcomes with ZTE and auto imports.
3
From front page of today’s edition of the English language version of The People’s Daily:
“China secures core interests in trade talks.
Though details of a trade truce between China and the US remain murky, early signs suggest that the Chinese delegation led by Vice Premier Liu He had secured China's core interests in trade negotiations with US officials.
2
China, for millennia has played the long game. Xi is one with his dynastic forebears, and with Mao Tse Tung, on this count. Trump knows only the here and now, the roll of the dice. This is why his casinos --every one of them-- went bankrupt. It is why America will come out in second place in any dealings where China is the main opponent.
Eugene Burdick's and William Lederer's novel "The Ugly American" should be mandatory reading for graduation from high school in America. It's a cinch Trump never cracked its cover.
4
Is it possible that ECPT (Electoral College President Trump since he is how he gained office) did not get a quick victory because the leaders of China refused to cave? I suspect that was and is the case.
2
Beginning negotiations by unilaterally pulling out of treaties is stupid. It's like having first and ten on your opponents ten yard line and retreating back to your own goal. Trump has a lot of deal making on his plate just to get back to where we were before.
2
The constant talk of a "win" makes these talk seem like a game. People's economic futures are at stake. Can we not talk about them with a bit more sobriety?
4
trumps trade deals are great until they're not until maybe they will happen 'till maybe they may not happen until maybe they may not include everything that they were going to include until maybe he hears something on Fox News that may change his mind again. He is so tiring that I just have to ignore him until tomorrow.
1
It is just a fake reporting to create an impression that nothing has happened in these talks when actually a lot has happened. China agreed to lower trade deficits by $200B and there is a report with very small heading that China agreed to reduce tariff on auto. We are used to this kind of reporting by Times and we understand what is really happening.
1
I would not call it fake. Has China actually inked a deal on anything? The point is that Trump's team is sending conflicting messages, and that could derail things, which is true.
1
The Chinese are not "baffled by the divisions" of Trump's advisors. The only thing they can be baffled (and amused) by at this point is the willingness of a US president to compromise his country's national and economic security in exchange for his delusion of winning a Nobel Peace prize.
All of this would be comical, were it not for the real consequences for real Americans of having a president so utterly incapable of putting the interests of country before his own.
7
Once again you focus on the negatives. I believe that these negotiations were very positive. There have been no really virulent tweets and no one has been awarded a new epithet. Not only did they not start a war, there was not even talk of military action. Apparently the negotiations didn't include the use of hookers. (I realize that trump wasn't present, so these may have been held in reserve.) Consequently, this appears to be the administration's finest hour thus far.
24
No wonder China is eating our lunch with negotiators like ours.
20
Not only did Trump and his team lose on this one, they made the US look weak and incompetent. You can bet that this will impact future negotiations with other partners.
28
The NYTimes is providing President Trump with a gracious amount of optimism and objectivity (to a fault) surrounding a potential trade deal with China. The Chinese will not give more than they get. Period. There is no true victory for Trump. He has invented a problem that doesn't exist so that he can solve it. But in truth, our trade deficit with China, or the entire world for that matter, is good for America and indicative of the reality in world trade, where America is shipping costly manufacturing jobs overseas. This means, of course, that manufacturing jobs are lost here, but over time more jobs have been created. And as our relationship with China evolves their standard of living continues to rise, which will create greater demand for US products and services. This is why having a dunderhead president who's living in the 1980's with dated rust-belt rhetoric is dangerous. In short, Trump is too stupid to close a great deal with China. Instead, China will get things they want that we shouldn't be giving at this time - just so Trump can have a pretend victory. Note that he's already flipped on ZTE. Suddenly Mr. America First is saving Chinese jobs, instead of American jobs, while simultaneously undermining his own Iran policy. If they make a Dumb and Dumber 3 movie it should be a biography of Trump's presidency.
22
Obama closed great deals - carefully, slowly, smartly.
Trump can’t do anything other than destroying them - to our detriment.
8
poor donald trump, fooled again on trade talks. Maybe next time he'll accomplish something more tangible than getting no assurances that the chinese government will help lower the trade deficit.
6
What do you mean, that there's no victory on the China trade deal?
China gave $500 MILLION Dollars to the Trump Organization in Indonesia.
THAT's a victory!
(for Trump)
33
Instead of a coherent strategy it was apparently American musical chairs negotiation antics up against the Great Wall of China.
Just one more outcome overshadowed and fundamentally sabotaged by the random chaos and rampant unpredictability that Trump so compulsively generates.
2
And no on is taking into account the fact that in the end, whatever the Chinese do promise, they will never deliver on.
Anyone doubts that, check out every other commitment ever made about IP, restraint of trade, currency, etc etc.
1
I am finally starting to agree with the "right." I really should take my money out of the stock market and put it in gold and silver. Trump is benefitting from the Obama era policies but very soon we will see the fruits of his incompetence , whether in trade policies or regulaory policies, and each and everyone's portfolio will pay a price.
2
So far, Trump's accomplishments are limited to anything he can do without consulting another person, like withdrawing from "handshake" agreements, his Executive Orders, or the big tax cuts the republican congress did without him. As soon as he has to get another person to agree with him, he's a dud.
2
He should have said one trillion to begin with. That would have been much more impressive that a measly 200 billion. Biggest trade deal ever! So much winning!
3
Once again, the New York Times omits the real reason why Trump has no true China trade policy that benefits the U.S. It’s because he only has a Trump family China policy. U.S. Sanctions on China and its renegade telecom company? They disappeared when China gave $500 million for a Trump project in Indonesia.
Trump was bribed, plain and simple, to favor China. Supposed infighting within the Trump cadre isn’t the reason why the U.S. trade policy towards China is in disarray. Trump’s kleptocracy is the cause.
35
The "master negotiator" couldn't close the deal he said would be easy. America got conned by Trump.
5
When everything is done for one person's (or team rival's) political gain, the country loses.
4
"....In fact, the Chinese were well aware of the divisions in the administration’s trade team — and set out to exploit them...".
Well, perhaps the Chinese see the "president" and his cabal of panderers in the same light that we do-a house full of buffoons and the Chinese know full well how to further divide and conquer the Trump "administration".
And Trump has stated previous administrations were failures when dealing with China. Perhaps he should look in the mirror to see a failure.
But, he his helping the "Great American Farmer". And if you believe that I have a bridge for sale.
But, we are winning, I guess.
5
Correct me if I am wrong here but I thought all of the Administration's firings and new hires was to get a group that was in line with old boy's thinking. I thought that all the new swagger was a result of Trump finally having a unified group executing his orders (strategies would be too strong of a word). Now I'm left to conclude that all the new personnel still aren't on the same page or that they lack clarity from the Oval Office. Or both.
I'm reminded of the old adage "When you don't know where you're going, any road will get you there." I'm concerned that we will always be on the road with Trump and we'll never get "there." In the meantime, we should all make sure our seat-belts are securely fastened.
6
Trump knows where he's going. His administrations problem is that he's constantly changing direction without informing anyone of the new GPS coordinates. What becomes more evident each day is the severe lack of leadership exhibited by the oval office. His "tweets" provide insight into a man who has no control over this emotions. He also changes his story when it becomes to uncomfortable to maintain a lie. Since he's always lying, his staff is finding out that it's impossible to compose a variation on a theme when the theme, rather than the variation, is always changing. And, to add insult to injury, he'll call out one of his top advisers in front of the whole world. Even is he approved the info they're relaying to the public before hand. For his advisers it's a no win situation. For US citizens, we can hope and pray that the Mueller investigation turns up info that's so egregious regarding Trump's past behavior that he's forced to resign from office a la Nixon. Then we'll have to learn to live under VP Pence for the remainder of his term.
1
While it is interesting and entertaining to watch the total incompetence in our government on every level on a daily basis, it is something that, given a choice, I would rather not see. To quote Casey Stengel, "Can't anybody here play this game?"
2
In a culture where "saving face" and deference are important values, it's hard to understate how shocked most Chinese would be to see two American officials engaged in a expletive-filled public shouting match. If it was caught on camera the image will circulate around China for some time to come.
4
If this went-nowhere trade conflict achieved anything, it is to give an exhibit A to the hardliners in China that the U.S. cannot be trusted - it can unilaterally rip up trading agreements and target any large Chinese corporation such as ZTE. China, in turn, will speed up tech independence and force US tech companies to give up intellectual properties even faster.
4
I wish the news media would consistently include the cash infusion into Trump Organization projects for every country under discussion in these articles.
13
Competing agendas, infighting, guessing instead of knowing - the Trump team has the perfect formula for not winning. Trade wars are so easy for the other side.
2
As usual, the stock market (and the real world), doesn't buy into the NY Times narrative of "infighting thwarts...." The stock market roared ahead yesterday on the main implication of the latest developments: Trump is likely to ease up on tariff plans as he makes gradual progress in negotiations with China. The rest of the world (outside of the liberal media) recognizes that the U.S. is likely to find itself in a better trade position once the negotiations with China are completed. When will the Times stop discrediting itself by insisting on doing "the resistance," instead of remaining a new organization?
1
Incredible. Not only is the country being led by someone who has absolutely no idea what h is doing, but his appointed staff are trying to make points, with their own separate agendas. Not only that, providing different stories, om top of this.
Since January, Trump, or his staff, have created uncertainty that continues to affect consumers, the stock and world markets. Mainly, with trade with China. Then went up against the dragon, and they lost.
The trade imbalance, with China, started almost 40 years ago, and that is something that cannot be fixed overnight. But, the approach of Trump, and his staff, trying to take the upper hand. In this game of chicken, the United States has to give up much more than China.
Infighting, incompetence and ineptitude will not fix trade issues with China. But, the 1% that are seeing their investments being hit, and seeing a story market, may be the ones that ultimately push for a way to push Trump aside. I am expecting one of those "surprises" to come out soon that undoes his presidency.
27
Trump roared and brought forth a mouse. What a surprise.
42
This should drive up food prices for US consumers. Plus more Republican efforts to end SNAP (food stamps). It's government by confusion.
22
Great. Trump settles for selling more sorgam while China takes the future.
32
The fact we are having these talks is a win... Any portrayal of this as a loss is simply Anti-Trump/WH and totally misses the point. China has issues and they know it.. Trump called them on it and that is why they are sitting at the table..
Yea I know Trump is an insensitive ego maniac.... His social rhetoric is often not appropriate... Economically he is winning.. get over it already!
14
@ Chris A:
Yep. Trump is definitely winning economically -- for the top 1%. Only the yachts are being lifted by this rising tide.
96
I know, right? That infrastructure/jobs bill is beyond belief. It's going to make every American rich beyond their wildest dreams.
54
Sorry Chris but for China to sit at the table means nothing. If you have ever done business in Asia, you would know that.
As for DJT winning economically, it would help if you clarified that. Gas prices are higher, health insurance premium are higher...how is this a win for the "forgotten man"?
I know you said he is an insensitive ego maniac but it goes way deeper than that and long term is incredibly destructive.
103
I guess the good news is the continual in fighting and leaking in the White House is evidence that or democracy is alive and well---dysfunctional yes, but authoritarian no. A real authoritarian regime, like China, sees no infighting from their delegation.
1
Remember we really don’t see much of anything from Chinese. That is the authoritarian part - controlling what gets out.
1
Funny, but I don't hear anyone clamoring for democracy in China, which begs the question....is the US truly about democracy, or rather trade, commerce and business? My guess is the latter. As long as a country will do business with the US, they're on the 'good guy' list, those that don't are evil, candidates for regime change and demonization, until they can be brought into the fold.
11
Toddlers in a sandbox with a continuous need for Adult Supervision that doesn't exist in this Trump Administration.
14
A “team” is generally reflective of its leader. In this case you have a leader with no moral, intellectual or philosophical center. the idea that there is some underlying genius to what, on the surface, appears to be the “I want it, and I want it now” emotional makeup of a six year old, is not tenable. That is precisely who Trump is. There is no “team”, only a collection of bodies chosen impulsively by the child with no more thought with each choosing than a kid in a candy store.
36
Once again, officials from an opposing side are running circles around Trump and his no-nothing goofballs. I don't expect any government official, from any country, to seriously consider taking Donald's word in any deal. He has proven, even bragged, that he's more than willing to break his promises and pull out of agreements, with no apparent reason.
Kim Jong Un has already received much from Trump simply agreeing to meet with him. Now Kim feels emboldened enough to play this game of turning it around and gaining the upper hand by threatening to cancel the meeting. Previous US presidents didn't fall for this game, but Trump is an idiot. Anyone who actually takes a moment to think would see that Kim Jong Un has no reason to actually enter into any agreement with the US. This is quickly becoming true world wide and we are seeing the results.
223
Except, his no nothing goofballs have more money, experience in business, Harvard MBA's then any president before.
I guess this will be a good experiment to find out if you can successfully equate business experience to political experience - and whether having a lot of money has any relevance in the ability to negotiate something other than a purely economical decision. In my opinion this sort of thinking falls into the logical fallacy of an "argument from authority".
Sir, the point you seem to miss is that the US is not a business but a country. You cannot run a country in the same manner, as it is clearly proving.
Having an MBA proves nothing, if you have no idea about concepts which clearly none of these so-called business people do.
The ‘Gang that couldn’t shoot straight’, also speaks with forked tongue. These embarrassing stumbles and squabbles reflect the ignorance of the guy in the Bigly chair. If the President was capable of vision, comprehension, and leadership (not to mention social skills and diplomacy), they could make some progress with the Chinese by being on message. Alas, this is the “bang” we get for our bucks! More like whimpers. Trump’s need to “win” the “deal” devolves to relative impotence and impasse. Actually, both sides need economic concessions here, but if your hubris gets in the way the Chinese (and everyone else) will just wait you out.
So let’s review: International consensus on withdrawal from Iran nuclear deal, “no”; intimidation and denuclearization of North Korea, “no”; condemnation of Israeli massacres and encouraging peaceful regional resolution, “no.” Novel Peace Prize contender? Only if it’s rigged. Violation of Emoluments clause, too many to count! International political and economic reputation of the US? Going down the tubes. Export of militarism and economic threats against the rest of the world? A monopoly. Trump’s campaign to MAKE AMERICA SECOND CLASS is under full steam. Maybe somebody should ask Great Britain what it was like when THEIR slip was showing? Hail, Trump. God save, America!
16
One can only hope they are using live bullets for their circular firing squad.
13
Once again the great negotiator (NOT!) has shown us his plan: Chaos. There clearly was no meeting of the minds on the US side before walking into the dragon's lair. Big Don never bothered to take the time to tell his team what he wanted in any detail, certainly not all together at the same time. Given past evidence, each one (Mnuchin, Lighthizer and Kudlow) believed he was the last person to have Trump's ear so each acted accordingly. Calling this a circus is a grave injustice to Barnum and Bailey.
46
The American Century is over. China's very adept trade strategy, its influence in a key regional peace agreement with North Korea, its expansion of investment in Africa and the Middle East, its commitment to reducing green house gas emissions, all of this and more place it on a trajectory to overtake that already failed state, America.
293
Ha ha commitment to reduce green house gases! That's real no?
3
The Trans Pacific Partnership negotiated by President Obama, now destroyed by our current “leadership”, was a complex deal. As a determined reader, I was going to have an opinion based on multiple facts; the media provided me with many moments of confusion. However, in the end I realized that the TPP was a stepping stone for US trade in the Pacific region, a foothold of influence.
Where are we now? Nowhere there. Who do we blame? What can we do about it?
Fight for our lives, literally in the 2018 and 2020 elections.Talk. Contribute. VOTE.
28
Obama was trying to salvage our global relevance. There was a lot of wreckage after Bush 43. Trump continues to torch eight years of hard work through either ignorance or spite. Probably both.
39
This is amazing intellectual and diplomatic incompetence. You don't go into talks like these with the differences on our side unresolved. A cursing, shouting match in the hallway between are delegates is terrible form and proof there is not an American economic consensus on trade.
Of course the larger issue is the decline of American manufacturing and the Chinese ambitions to become the global supplier of capital and infrastructure. The scale of the Chinese projects dwarf earlier Western and US efforts, make the Suez and Panama canals look like little tinker toys. Err, I mean lego toys.
I suppose I should have expected this from this administration. But the roots of the problem run much deeper: to the major miscalculations of the level of pain for the working and middle classes in the West from the globalization-free trade project since the 1970's, and the Neoliberal framework within which it takes place. Austerity and labor market reforms - work longer for less - are the prescriptions, not full employment through environmental and human repair projects...
Don't look now, but through the Neoliberal intellectual haze - sea fog if you prefer, a colossus from the East has displaced us. We're fumbling for a response, happy to be distracted by Russian obsessions.
64
I'm no fan of neoliberalism in any general sense. However, you do realize the TPP was specifically designed to isolate China from the general Pacific economic network thus giving the US badly needed leverage in trade negotiations with China, right? Trump torched that deal basically on day one.
Meanwhile, we wouldn't even have Trump if not for the misguided austerity imposed on the remaining middle class in the wake of the Great Recession. Again, that was not a neoliberal policy. Your criticism is once again misplaced.
Finally, George W. Bush did as much to encourage the rush to China as any neoliberal president so the blame is at least bipartisan. We probably wouldn't have as large an issue know if we hadn't used Chinese financing to fund a massive middle eastern invasion either.
10
I'm sorry Andy, to say the austerity applied to the middle class in the wake of the Great Recession was not neoliberal is missing Neoliberal essence...Keynesianism was allowed at the peak of the crisis...under-funded, and then the policy shaping was turned over to QE at the Central Banks. I refer you to Mark Blyth (Brown Univ.) grim but formidable book - that one would expect from a Scotsman in the Scottish Enlightenment tradition - "Austerity: The History of a Dangerous Idea." Austerity was applied to the German workforce to make their products more competitive on world markets, and applied by the Troika to Spain, Italy and most prominently, Greece. French officials have tried and tried to bring the workforce under its sway but so far have not succeeded. And of course, in good times and bad, most American states must live by legal constitutional restrictions to balance their budgets...a tremendous downward pull.
Now for the TPP. What you say has some truth: it was bent and marketed as the "contain" China program, but most of the left which has vehemently opposed it did so not through that lens but rather its actual provisions once again pushing labor and enviros out of the arena, and putting future corporate patents and disputes into the realm of pro-corporate arbitrators. Dean Baker who is very pro market didn't like it for those reasons.
Too late it was to decide -the American elite by then: hey, maybe China needs to be contained; our creation in part.
The fiscal stimulus at the peak of the Great, the Keynesianism to which you refer, was a bipartisan deal that amounted to a bank bail out and an auto bail out. That was pretty much it. The promised relief to homeowners and displaced workers never materialized in any meaningful way. The can was kicked.
Fast forward two years and the shortcoming was overwhelmingly obvious. The fiscal stimulus was anemic. However, Tea-party Republicans had swept Congress by this point promising austerity. There was never anymore fiscal stimulus. We actually suffered a government shutdown along with spending cuts instead. The middle class never fully recovered as a result. Hence the later rise of populism and the misunderstood rejection of the TPP.
As for QE, the entire policy was a make shift solution to fiscal absenteeism. Without fiscal policy, monetary policy was the only alternative to support a struggling economy. Inflation never rose because even maxing out monetary policy wasn't enough to buoy the general economy and monetary policy primary benefits wealth holders anyway. Again, growing inequality and more populism.
Germany did implement austerity with much the same result. The EU recovery was uneven and disproportionately favored wealthy nations. Spain is only now recovering. I wouldn't point to Greece as a success story either. The German measures were good for Germany but overall exacerbated short-term hardship giving rise to populist movements in Europe from Brexit to Italy.
I truly don't understand why you are bellyaching. Trump is not a politician, he's a businessman. That's who America voted for on purpose. Which is he does things as a businessman: He doesn't reveal his hand in negotiations, he uses subterfuge and double messaging. That's good poker.
Personally, I don't care for Trump or his bluster - but I also don't care that I don't care for Trump or his bluster. Obama was the picture-perfect President - and horrible Chief Executive. His Iran deal was a disaster. He made America a laughingstock around the world and his weakness drove Putin to take over the Crimea because he knew Obama will do nothing. But beyond all that, the world ought to condemn Obama for generations to come for being silent about the atrocities in Syria.
Whether Trump is a good President will be revealed down the road. The reprehensible Hegel was correct when he stated that history is judges by the results. He is DOING and until the results are in you can only give (or take away) points for style. I think you guys underestimate just how important Trump truly is. He may be disgusting, but he's darn impressive.
13
Just goes to show that one person’s “subterfuge and double messaging” is another person’s “lack of coherence or strategy.”
43
What is he doing? Please give some specific examples.
39
I avoid doing any business with people like Trump.
38
China won. Trump's attacks have been successfully repelled. You know who else won? The American people. American manufacturing. The global economy.
China is a prime producer of low cost materials, parts and assemblies that are used around the world. Their goods circulate around the globe and are used in production internationally. China is a vital link in global output.
Trump backed off because big business told him to back off. The entirety of American manufacturing stands to lose global market share if access to these low cost goods is cut off.
Globalism is not a bald thing. Globalism powers the economy. True that globalism has helped to create oligarchs, but that is because the tax system allows that to happen. Globalism creates tremendous wealth and the tax system doesn't return that wealth to the people. But the people keep voting for policies that create more oligarchs. Then the people blame globalism for their plight.
Let globalism run and tax the profits. China just did us a big favor. Let's hope they keep winning. We, on the other hand, need to stop allowing the elites to keep all the profits by cutting taxes to such low levels for them.
8
Isn't this just the way international global corporate rule works? They don't recognize nations or political parties, but serve instead the various powerful Boards that run the world?
The 1% pretty much always win. To get a trade deal through means placating their cold hearts, and in the end, the poor will suffer.
That is the rule of international trade...fight to get the poor to bid to work for low wages and no benefits so the rich can produce cheap and sell expensive. Trump was just pretending that he would fight to protect American workers, after all, he does what he can to employ the cheapest workers in his own businesses.
Hugh Massengill, Eugene Oregon
57
With the inmates running the asylum in the Oval Office, this story offers more evidence, as though any were needed, of the current Republican Party's terminal incapacity to govern.
It's only a little worse than the Democratic Party's terminal incapacity to wage an effective political struggle.
73
Our trade imbalance problems are of our own, not China's making. We spend more for imports than we earn via exports! The solution, proposed many years ago by Warren Buffett, almost made it through Congress until blocked by international oil barons' lobbyists. Mandate balanced trade by granting US exporters of goods and services $ trade credits that would-be importers must buy directly on a regulated exchange or through their banks before releasing equvalent $ to pay for their imports. As for what China demands of foreign-based manufacturers operating within China, that is beyond the province of the US president or congress. We would ignore similar restraints demanded of us by any foreign government!
5
But US (better called multinationals) are the ones most profiting from mfg in China and cheap labor countries in general. They don’t care how the payments for goods end up in their ledgers. Billions held overseas anyway.
5
It's fairly obvious the hardliners on both sides lost. At the end of the day, what we are going to have is what we had after all this smoke and empty promises. Same old, same old.
10
None of this matters. Trump is a con artist and will lie about his victory. The base will gobble it up. Whatever happens, he succeeds because he lies about what happened and how successful it is.
59
While Trump gleefully romps from crisis to crisis what Americans may not realize is that the uncertainty created is having a quantifiable dampening effect on the Canadian economy, and likely many others. Churchill said the price of greatness is responsibility. Following such a demonstration of enormous irresponsibility as is being provided by the current administration, America's greatness and importance as a trusted partner could well become but a fading memory.
245
Leigh
I agree with you . You are Exactly correct. Many Americans, like myself, are grieving the loss of our country’s honor.
Karen — from the great state of New Jersey .
2
Wish I could move to your country, Leigh. You weathered the 2008 crisis well. Your nation is honorable. At present, ours—our leadership, and those who enable it—is not, I am sorry to say.
1
Gee, you might have mentioned the $500 million the Chinese gave the Trump Organization during these talks.
325
Amen, brother! Obviously a journalistic oversight!
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What's the problem? The Chinese gave him the loan so he could build another Trump project in Indonesia. Mission accomplished!
Trump wants to live in that mansion in the sky and the rest of us can live in the streets. This administration is full of hate for the entire world, which is why this draft dodger bully needs to be out of office before he destroys the world.
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Yet more evidence that Trump is a lousy manager.
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And yet, 1/3 of the country think he's a great businessman and negotiator.
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Well, they get their "news" from Fox, so...
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Consistent with bell curve for intelligence
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"Why Goliath Can't Export" The Economist circa 1985
This article was written by an American businessman with long experience in Asia..circa 1985.
It is still relevant.
What could China buy to balance the trade?
If China doubled or tripled its food imports what impact would this have on US consumer prices?
Are American trade negotiators confused?
Is Mr Trump a toothless trade tiger?
saludos de Chicxulub Puerto Yucaatan
David Andrew Henry ancient Canadian economist
ps
Would the NYTimes please do a "what if" analysis...
what would China import?
Could US producers deliver, without distorting the domestic market?
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We could sell them our real estate the way we did with the Japanese in the '80's.
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What's so obvious here is that the Trump economic "team" is so out of its depth. China is running circles around them. Larry Kudlow says this; Steven Mnuchin says that; Wilbur Ross says neither or doesn't know.
Donald Trump pulled America out of the Trans Pacific Partnership because he didn't negotiate the deal. Into the Pacific Rim vacuum strode China; call it a walk-in touchdown, scoring untouched.
One wonders where the trade experts on Capitol Hill are. Do they not see that their "president" is being gamed and played in the very arena in which he claimed merited pre-eminence. His "art of dealing" has exposed him as a fraud and his team as empty-handed.
When an ignorant populace elects an ignoramus to the highest office in the land, what else can we expect but "I don't knows?" As an astute commenter recently remarked, "elect a clown, expect a circus."
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This comment should be an NYT pick for today!
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@Sox -- speaking of a circus, Barnum and Bailey once said there was a sucker born every minute but the president's supporters took the whole damn hour!
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"Own goal" is more correct; We scored for the other team.
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A second generation wealthy president with behavioral issues, surrounded by a team of government wannabes in an environment of petty competition amongst themselves is no counterpart for the Chinese bureaucracy with thousands of years of culture (and corruption).
The Trump administration already lost the trade battle with China by quitting the trans-Pacific trade agreement which gave China the world leadership we had. The only field Trump is able to compete with China is on corruption and conflict of interests.
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Well, Trump equalled that thousand years of corruption during his first year in office.
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Wilber Ross needs to retire. Some people in Washington are a spry 80 , he is not.
Regarding this issue (and many others ) Trump is a colossal failure. I do not think his summit with North Korea is going to earn him his beloved “ Nobel Peace Prize “. Once again, Trump shows himself to be an arrogant, impetuous and inept idiot. Is there a prize for that? If so Mr. President , don’t worry, you’ve beat out all the competition on that one.
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The Nobel Peace prize might indeed be in the cards for our three card monte dealer.
Remember Henry Kissinger got it as a key player in the Nixon administration's bombing of Cambodia and after the Watergate scandal had already started.
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This is a strategy? Negotiation by confusion?
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I think it worked on an episode of "The Apprentice".
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Trump doesn't have a "cherished policy agenda" at all. The Great Dealer cherishes himself, alone.
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The chaotic administration style of Mr. Trump does not serve well during negotiations. There is no clear message, and the Chinese know this. This is a fiasco.
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Sounds like Trump wants to turn the US into a huge farm for China. Farm workers are among the most poorly paid in the country, and much of the work is done by immigrants, often without any oversight into their living conditions. Way to go, Trump.
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Well as we bring immigration down to one person a year as per Kelly we need to get those community college graduates and their professors out in the fields don't we?
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If he succeeds in slowing illegal immigration that will hamstring agricultural production, no? Another win(lose) for DJT.
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This is already happening in related areas. Recently took a trip to the Eastern Shore of MD/VA. There was an article in the local paper about crab fishing/processing companies, a major industry in the area. The article said that because of changes to the immigration lottery instituted by Trump policies, they can't get enough workers to do the processing. This used to be a summer/seasonal job that some high school and college kids would also do, but no more: the work is too hard. So, a number of companies are basically shutting down and there will be no crab meat from them this year. More detail: https://www.usatoday.com/story/money/business/2018/05/04/crabmeat-produc...
Another fine example of what Mr. Trump meant when he talked about hiring all the best for his administration
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The best will inevitably decline to serve the worst. Trump's team is the mirror reflection of the president himself.
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As Stan Oliver oft said to Hardy " This is another fine mess you got us in," Always blaming the other member of the duo. Their movies were comedies but no one should be laughing at this Trump-GOP nightmare.
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And trade wars are easy to win.
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I understand that some people wanted a “disrupter” when they cast their ballot for Donald Trump. However, I don’t think they were expecting “total incompetence”...which is exactly what they are getting.
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