Wonder if anyone is aware that under Chinese culture in the 21st century, and most of it's history, the Chinese look at an agreement as not binding. Yes, yesterday that was so, but 'we've changed our mind.'
Negotiating with the Chinese is never binding, their word and even signature is meaningless. The West doesn't seem to understand that the world doesn't play by the same rules. To it's detriment.
He’s fired!
Like the corporations who sold us out to them, China is an enemy, and should be treated as such in all respects at all times.
Polling is increasingly favoring impeachment and removal of the president. Hang on for another year China, and maybe Americans will elect a competent leader and we can all get on with our lives again.
Trump's goal in life is to remain the Boss in the "Apprentice". He is the ultimate reality TV wannabe. He is a complete failure as President, and better cut out to be a reality TV star. In his simpleton's mind that is all he understands.... how to play being a boss. Trump is being run over by the Chinese in the Trade negotiations. He doesn't have a clue .....
2
Trump's entire trade policy with China revolves around his desperate desire to be re-elected so the Chinese undoubtedly know he will cave before the 2020 election so he can boast. He needs to save face so they will throw him a few bones so he looks good - and then it will be business as usual.
Lots of hate on here tonight. We actually have a President who is trying to fix things that no other President had the guts to take on. Like immigration, tariffs, aids to other counties, the border, etc. Give the guy some credit! Not to mention he works harder that any other President ever has and ALL while being harassed by the democrats, and even some republicans. Wake up people, Nancy Pelosi and Adam Schiff are not on our side!!!!!
1
This opinion piece could have easily been summarized in a short paragraph. Trump's unpredictability and flip-flopping is the hallmark of someone who does not have any idea of what he is doing wrt trade with China...or any country. In short, it's a bug, not a feature. Nothing about this trade war is planned, there is no fixed goal. Same as all other issues Trump claims to want to deal with: health care, infrastructure, immigration, gun safety,...
3
The headline says it. Trump does not have a foreign policy. He is all America First. He has TV policy instead. He thinks being a TV star is what being President is for.
4
Once again, a reminder for Mr. Trump: one in four US jobs is tied to retail. Those workers will remember your unstable trade “deals” when they vote in 2020.
2
The president keeps saying China is paying for the tariffs. My understanding is the importer in the US pays the tariff at the time of delivery. I further understand that, while some Chinese exporters are cutting their prices to compensate for the tariffs, the major net payor of the tariffs remains the US importers. There are many factual matters the president distorts or fabricates, but it is stunning that after all this time his advisors have failed to correct this. Or, is it truly the case that there is nobody left in the administration with the integrity and courage to speak truth to the president. Surely there’s someone else in the Republican Party that could do better.
7
The Trump condition of $50 billion in agriculture purchases is a true deal-breaker.
This would significantly disrupt the volumes of China's other suppliers--thereby punishing the suppliers around the world that happily trade with China to become more entwined with a country that is far more oppositional an likely to use that expanded trade volume as leverage in the future.
And why would China be so foolish as to put all its eggs in one basket when the hand holding that basket could decide to overturn it or hide tha basket behind his back? Why would anyone want to increase trade with the US as long as this fool is in charge? Why risk him slapping on tariffs for any purported wrongdoing?
1
Why does anyone believe anything Trump says? He'll deny it or switch completely. Trump claims people voted for him because they love his style, but being unpredictable, moody, and bombastic isn't good for anyone -- most particularly farmers who need to plan their crop yields months or years in advance.
3
Stop looking for instant gratification. This is going to take time, because the President is trying to undo the status quo of decades.
I'm a Montana farmer, very conservative in my spending, and I would love to see the unbalanced tariff situation resolved. For instance, China has been imposing a 65% tariff on American wheat coming into their country. That makes it hard to compete and get a fair price for our grain.
China isn't the only country with these protective tariffs focused on U.S. products.
I am more than willing to tolerate some hard times for a long-term solution. In fact, I've been waiting for decades for a president with enough gumption to address the issue.
We have been subsidizing the world economy since WWII and it's high time that ended.
3
@Raz Also, the rest of the world owns more of our debt than we do of theirs. We give all our our money to billionaires through tax cuts and fund it through debt from foreigners. Our net investment position is in the negative trillions. We are the largest debtor nation.
4
It’s not at all clear what you mean by your comment that the US has been “subsidizing” the world since WWII, but the thrust of your comment about being patient is clear, and wrong. The predicament we are in with the Chinese is entirely the making of American corporations who grabbed the opportunity to make profit in China even though the terms of doing business were draconian. The thirst for short term benefits blinded them to the long term consequences. As for your outrage against the government, I am surprised someone with your background would not prefer the government stay out of interfering with our corporations’ strategies as much as possible. I guess you only want help when you can’t do it on your own. Finally, being patient is hardly the president’s long suit. After all, he told us trade wars were easy to win and would end quickly. Perhaps he based that on his vast experience conducting them over his decades of business experience. Maybe prior administrations didn’t adopt these tactics because they knew they wouldn’t work, just as these are not working. You may go down swinging, but likely you will go down if Trump doesn’t get this done.
3
@Raz We won cases against China with the WTO before Trump got into office.
3
Investment and uncertainty are incompatible.
Firms currently in Asia can't return to the US and invest in restructuring for fear that reducing tariffs will hang them out to dry.
Firms in North American can't invest because their supply chains are precarious and uncertain under the current tariff regime.
Firms in Canada, Mexico, Europe and the rest of the world can't invest because of the contagion of trade uncertainty.
And so for lack of investment incentives or opportunities, the world sits on mammoth stockpiles of wealth. Interest rates and bond yields are driven so low that the only place to invest is the great casino of the stock exchange.
And the DOW pushes 28,000 and the stampede into bubble territory continues in the quest for some positive returns.
And the US deficit tops a cool trillion even as unemployment dives well under the natural rate.
There is nothing about any of this that is anywhere near normal, least of all the fact that everything seems normal and somehow, inexplicably, is puttering along quite nicely.
4
Trumps reckless initiative to invent this “Made-for-TV” Trade War in the first place is slowly starting to backfire.
Why on earth would China commit to meeting up to sign a shallow “phase 1” deal when they can sit back and watch where the impeachment hearings take us? Until DT signals the US is willing to roll back some or ALL of the tariffs nobody is going anywhere in my opinion. On top to this, the IP theft problem is far more important than appeasing farmers in the midwest with soybean sales.
2
Exactly, and the issues won't be resolved by a petulant Trump banging the table, constantly changing his mind, even after a deal has been agreed.He thinks he's a genius when in fact he's anything but.
2
Tariffs are essentially sales taxes. No sale, no tax. The point of tariffs is to shift sales to domestic producers. This was tried when the Japanese got a foothold in our domestic automobile industry. They agreed to import quotas and Detroit sold more cars. Bottom line, the consumers paid more for foreign and domestic cars. They called this sticker shock.
Conservatives used to decry this type of industrial policy. The real problem here is the labor cost advantage lesser developed countries have over us. Trump did say our workers make to much money but the white ones overwhelmingly voted for him.
2
Trump, Mnuchin, Kudlow, Lighthizer and Navarro have been using the trade war and their "progress" towards finalizing a deal with China to pump up the stock market, which is at an all time high. Trump will carry on with this tactic until October 2020, when he will sign a supposedly "massive" deal with China.
4
Just watch closely.
This is how a fascist system ends. In chaos and misery.
4
It's just great that our tax dollars our bailing out agribusiness AGAIN because of the mental midget's trade war.
Socialized farming 101.
Trump may snatch defeat from the jaws of victory if he keeps this up.
He makes a couple of really dumb statements. First, that the tariffs are really filling up the government accounts. Those are taxes on the consumers that are being collected, money that cannot be spent on other goods and services. Second, agriculture is a very risky proposition and the increasingly unstable weather can easily turn a good crop into a lost crop. So promising amounts two and one-half times greater that what has been, is risking not satisfying the terms of the agreement.
Like I said, he may snatch defeat from the jaws of victory.
1
Trump is dumb as a rock and even more stubborn, as are too many of his supporters. Like Trump, they see the world in terms of winners and losers, strength and weakness, when reality is that we all have to compromise and make deals that are mutually beneficial. Negotiating international trade policy isn't like strong-arming your contractor to lower his bid.
4
When are people going to understand that Trump was never “a deal maker” or “a businessman.” He is the failed sone of a millionaire who squandered away his fortune, is indebted to Russian mob money and has no core values.
He conned his way into the White House showing rabid insecurity. Afraid that he will be found put he distracts, blows things up and lies. He has bankrupted fifteen hundred small farms due to his incompetence and any Republican feeding his delusions is morally bankrupt.
The only people benefitting from the China debacle are hedge funds and money manipulators. In the long run, it is damaging to the both the world economy and our status around the world. Absolutely nothing is being accomplished. To take a hard look at these ridiculous, even pathetic sycophants is to see stupidity and graft in politics like we have never seen.
5
Of course the Dunce in Chief has done nothing to make a strong economy. Ask yourself what exactly you as an individual American citizen are getting out of the "strong" economy. What is the use of it if you personally get nothing out of it? Somebody is getting something for sure but I bet it isn't you personally. When you get offered-once in awhile- something out of the government you ought to try taking it. Warren is offering you health care. You ought to accept it. Who exactly is it that cannot afford it? They can afford military expeditions, luxury trips to Mar a Lago, 2 trillion dollar tax cuts for the extremely wealthy; junkets for the likes of Giuliani to go to Europe. How come you, average Joe and Josephine Citizen only get scraps? Pretty anomalous for the richest country in the history of the world.
2
China is getting exactly what it deserves in Trump's on-and-off trade negotiations. No, he doesn't know what he wants, so I'm sure he keeps changing his demands. On the other hand, China has always promised everything, and done nothing. Trump and China--the perfect match.
1
Phase I, Phase I, When will a Republican Senator realize that the Emperor has no clothes.
4
Good thing those 'Merikkkan soybeans don't have a 'best by' date.....
1
That ol' LBJ saying, "Don't get into a pxssing contest with a skunk": one wonder between Donald and Xi who the skunk is? But one thing is certain: one is a smarter creature than the other.
3
It will take a century to recover from this administration.
5
He will not end this negotiation because China will not give us anything. And the only way Trump will work anything out for any amount of time (say a few hours!) is when he gets his way. Negotiation to him means do it 100% my way. Neither Kim Jung un or Beijing want to give an inch either. The rancor grows and he is incapable of working with others. He does not even say it in a nice way. The Republicans continually say "the liberals have gone after him from day one...as if this is a vendetta...but from day 1 he made the nastiest of allegations and comments on anything from his political rivals to our one time allies, leading to impasses in all areas now for the US.
2
It seems by all accounts to have been a 'perfect' trade war so far.
Trump Made Vietnam Great Again after Chinese factories shifted production there and other countries simply picked up any slack from decreased China imports.
In the first nine months of 2019, US goods imported from Vietnam, Taiwan and South Korea surged 35%, 21% and 7%, respectively, compared to the same period of last year, while imports from China dropped by 13% year-over-year.
Vietnam has been profiting from the trade dispute as it supplies many of the goods that US companies typically sourced from China before the trade war.
According to data from the United States International Trade Commission, US imports of mobile phones from Vietnam more than doubled in the first four months of 2019 compared to the same period of last year, while computer imports rose by 79 %.
Footwear, textiles and furniture from Vietnam also saw a boost in demand from the US, as did fish, which was typically processed in China for consumption in the United States before the tariffs were introduced.
The steep increase in US imports from Vietnam made Vietnam the seventh largest import partner for the United States in the first nine months of 2019, up from 12th a year earlier.
https://www.statista.com/chart/18483/change-in-us-goods-imports-from-top-partners/
Trump has been great for Vietnam.
We all hope he moves there.
45
@Socrates
I always appreciate your comments, and this one was very well documented.
I did business in Vietnam for 6 years (1993-99), married my translator, and have a home there, although we live here now. My wife has a huge family involved in law, construction, education, NGO's, and the arts, and I have a lot of former clients and good friends there. These Vietnamese family and friends like Trump for one simple reason: they see him as standing up to China, who they loathe and fear.
That said, I don't think they'd want him living there. They are a polite people, but they do have limits.
10
@Socrates
It was the rising cost of Labor in China as the migrant labor markets tighten that brought the shift to Vietnam, many still under Chinese ownership, rather than Trump trade policies, but they are contributing now along with the former.
Paradoxical that wages rise in Asia shifting supply chains while they stall, even under ‘full employment so defined,’ in the US.
Every goal of Trump’s team, to bring industry home, seems to be waiting for its day to occur, but their hopes (Lighthizer’s especially) to force structural changes in China’s system are dreams unfulfilled.
Was there ever any reasonable thought behind Trump’s trade policies – doubtful?
1
@Socrates
In this world of deceptions, I am highly skeptical of such rapid relocations--transshipment, repackaging and relabeling are the fastest remedy for a producer with tariffs.
1
Tough negotiations all around. I think it's fair to critique portions of his strategy. But from the outside of US, I am very glad that some one dares to stand up to China. Their behaviour, propaganda, indoctrination, concentration camps are most disturbing.
1
@Clarence Well, we could of had the help of the TPP, providing a united front against China. But your stable genius dumped it.
Now he is about as effective as the old man yelling at the clouds.
As to your last sentence, Trump does not care at all about human rights outside of how it makes him money.
2
Farmers of the United States know one thing, this trade war will go down as a pivotal moment from which there will never be a recovery. Commodities like corn, wheat and soybeans are very fluid, efficient markets and the days where one country can hold another hostage has been on the wane for decades. Farm production is very efficient with mechanization and every year that goes by fewer and fewer people are required for each ton of grain. The corn, beans and wheat sold to China is now being supplied from Canada, South America and Australia and I seriously doubt things will ever return. President Trump will go down in history as the worst thing for American agriculture since the dust bowl.
5
I can't figure out if Trump has a long term political plan with this trade war or not. The plan would be let this trade war play out for some time and then, a relatively short time before the election, announce a trade deal with China (that is bad for the U.S.) but claim it's the greatest trade deal in history. I assume Trump is using Hong Kong as a carrot in these negotiations. The U.S. not intervening in the Hong Kong crisis is something China desperately wants and Trump saying he will intervene takes away that potential carrot. Finally, Trump periodically announces potential deals with China. I have little doubt that he makes targeted security market trades just before those announcements to take advantage of anticipated market response to those announcements.
2
The Chinese have suffered far worse economic and working conditions than the vast majority of Americans and can do it again if their country requires. One billion spendthrifts, ready to carry the load of a slowing economy. Neither the American worker nor the American consumer are prepared for a war of attrition with people that spent the last 50 years making the junk in our living rooms for pennies a day. Why would China try to balance trade with a country that has labor costs 500% higher than their own? They won't. Also, are American's ready to pay 30 bucks for a pack of sweat socks? No, they're not. Globalization is here, like it or not Mr.Trump.
5
This is right out of the Trump demagogue 101 playbook. Just in time to help distract. Keep feeding his base on the idea that he’s fighting a common enemy and “making America strong”, and he’ll continue to shore up the support he needs with the red hat set. “Not being taken advantage of the Chinese anymore” is one of his central narratives. His word obviously means nothing. Just more chest-thumping strongman babble to appeal to his made for TV crowds.
4
Trump could have used the TPP as a strong had in negotiating with China. They didn't like it because it isolated China from other Asian nations. But Trump, ever the master negotiator, threw out his one hole card and bumbled into an unwinnable trade war that has hurt all Americans with extra taxes and destroyed the livelihoods of many Americans. The very fact Trump has to pay bribes to farmers to keep them on board shows how bad his hand is.
41
All nations threatened or sanctioned by Trump should form their own trade agreements with one another and exclude Trump. Perhaps being shunned by the rest of the world Trump's supporters might realize that Trump is not the best option . Trumpies only care about cash in their pockets, they don't care about lies, obstruction, bribery or other myriad impeachable offenses
3
Trump's particular psychopathy means he is incapable of caring about other people. Farmers? They aren't real people to him, they are pawns to be used so he can "make a deal" and in his own demented mind, look good.
It is important that people understand this. Trump is not a fully developed human. He is stuck developmentally at about 18 months old. He does not care about anyone or anything unless it benefits him directly. He never has. He never will. He is incapable. As such, he is unfit for any job that requires caring, empathy, critical thinking, morality, ethics.
8
"“By hyping up expectations and setting unrealistic goals for the trade talks, Trump makes the prospects for any sort of trade deal with China more uncertain and volatile,” he said." Suppose someone told you to negotiate a deal with a petulant, racist, mentally-impaired, dishonest grifter who knows less about everything than any other national leader on the planet? Would you hold back or jump right in? Exactly. China has and will continue to play the long game
2
Remember the TPP? that was designed to isolate China and make trade better with the rest of the Asian countries. It had strong IP protections. China was really concerned about it. When Trump thru it out China instantly won and negotiated trade deals with all the countries that had been in the TPP. Of course those same countries now see the US as an unreliable trade partner.
Good Going Trump! We lost, China won and you proved to be a complete fool!
2
I'm afraid the unsettling trade "show" won't end until the hook comes, one way or another, and drags Mr. Trump offstage.
6
America did not elect Trump for his intelligence. They elected him because of his boorish behavior and his ability to entertain the masses.
Trade policy has complex issues from economics, social and political policies wrapped up with trends like technology and environment for all parties invoked.
America is making decisions that will hobble it for the next 50 years.
11
Going from 30 billion to 50 billion in exports is actually quite easy. Just double the price.
3
Meanwhile, China is gassing University students in Hong Kong and crushing Uighur Muslims. They get away with this because they know Trump only cares about his fake deals -- democracy and human rights be damned.
7
When considering any of the bizarre actions of Trump, it always helps to understand by asking "how will this affect Vladimir Putin.
10
So China isn’t making demands?
1
@ Jackson No. This was our genius president's fight. President Stable Genius is out on an island where only he and he alone can tame the Chinese government's economic policies. Also, he can fly and stop time and live forever. And anything else you might believe. Because he says so. Also, Lincoln was a Republican. So whatever our president does is brilliant. Don't you get that?
3
The one good thing about this trade war is that Trump has made handout-loving socialists out of American farmers and manufacturers — as of last month, the bailout money has quadrupled what Obama gave to the auto industry.
With the holidays coming, there are no signs of slowing the handouts as soybeans are still rotting and bourbons are still unsold.
But hey, we’ve got socialists smack in the middle of America!
Imagine seeing these ultra-nationalist farmers and manufacturers begging for handouts from the federal coffers that New York and California are filling in — none other than the elitist, New Yorker reading, gay loving intellectuals putting food on their tables and keeping them alive. The joy!
13
Let’s not forget the money Obama gave the banks and auto industry were paid back to the government with interest. The farm bailout money isn’t going to be paid back
3
NOTICE WELL that the U.S. Markets are doing just fine IN SPITE OF Trump's moronic, distractive "trade wars", NOT because of it. The idiot-in-chief can't "negotiate" his way out of a paper bag.
We see NOTHING with North Korea or Iran, no joy with China and the economies of the rest of the world are faltering because of the economic ignorance of MafiaDon.
We will ALL shortly be suffering from what Trump has created, as predicted. He will be lucky to return to the previous status quo and, no matter what happens, the United States will now be flagged as a rogue player, untrustworthy and disloyal to its obligations. TYPICAL TRUMP - but he now involves US, ALL OF US.
NOT MY PRESIDENT - because a REAL President would never do this; only a hollow, fake excuse for an ignoramus.
18
Come here! Go away!
Come here! Go away!
Come here! Go away!
Yawn.
1
Trade wars are actually very easy to lose as Trump is finding out. The stable genius with a very large brain may soon find himself cleaning out all the horse pucky in China'd stable.
4
Has Trump ever really made a “deal?” I mean, without someone getting shafted?
Probably overheard his Dad say “deal” once, and it just stuck.
3
Let’s face it folks. Donald Trump is barking mad, uninformed and exceedingly ignorant. Remove this cretin soonest, and move on. He’s literally killing the country.
I love my county, what about all of you?
16
What a surprise
1
Trump is still lying about all those billions in tariffs that China is paying flowing into the US Treasury. He thinks that is just great.
China isn't paying those tariffs, I am on the parts my little business uses. So is every other business, both large and small, that uses Chinese parts. We are all trying not to raise prices because the economy is soft. It's strong for a select few industries, but not for manufacturing. Our profit margins are shrinking because of them.
We can't find other sources because China supplies the entire world for most electronic parts and many other industrial components. Furthermore, foreign competitors can buy the Chinese parts at much lower, non tariff prices, making them more competitive.
Trump is doing a terrific job punishing American manufacturing with his ridiculous trade wars. He started them, and we are paying for them.
84
@Bruce Rozenblit
Whether anyone realizes or notices but prices are rising. 50 cents extra on this or a $1 more on that. It adds up. Every week the grocery bill goes up $10 - $50 plus depending on volume.
As usual it's the poorer families or families with young children especially since they'll see it in the clothes that get outgrown and must be replaced.
Melania and Ivanka can still afford all the Chritian Louboutin shoes they want. Even if they go from $1,000 to $2,000 a pair.
Trump will still afford his Brioni suits. Although why theu look like something from Walmart I'll never know. They are so badly fitted. I guess he thinks wearing them so big it makes him look slimmer. LOL
Barron will get any new electronic for Christmas too.
It's nice to be king.
17
@Bruce Rozenblit
If all those billions were flowing in, then they could be applied to the deficit. But has anyone seen that bit of news?
8
@Bruce Rozenblit You have to speak out to your neighbors. They voted Trump in, and possibly you voted for him as well? Only you know...but he can be deposed. So start making a stink, loudly. Now is the time, when he is vulnerable.
2
Trump is dealing with the regime in Beijing perfectly. There isn't going to be an end to this trade war until the CCP are in the dustbin of history.
.
There's not much I like about this president, but the way he treats Beijing is waaaaay past due. We should never have made that regime wealthy. To go back to doing that now would be criminal and insane.
7
@West Coaster I don't think you are wrong, but the more realistic question is whether Trump can do any more than he has done? Yes, he has raised the issues and set the parties on a path...But, like Moses, is he going to see the promised land?
I don't think he can take the USA or anyone to any promised land. His history of "deal-making" is really quite weak. And it doesn't take great talent to point out the issues that need to be addressed. I have friends who worked on major deals with China, and were not treated fairly. So recognizing the issues is the easy part. So now we are dealing with the hard part, and Trump's weaknesses are apparent: This is a guy who went BK in the casino business.
And a guy who paid $130,000 for a one-night stand. Do we really want him negotiating for the USA?
6
@West Coaster The American consumer made China wealthy. "Buy American" is for the other guy. Most American are hypocrites.
8
@West Coaster You live in opposite world, don't you?
By the way, China is not going away, despite my dislike of them.
Wake up and smell the coffee.
2
Why would anyone enter into a deal backed up by the word of Donald Trump? Everyone has his number except the GOP base.
40
I don't think Trump wants this "war" to end. Not unless he can dream up some other show to keep himself generating copy, his base impressed & the rest of us increasingly bored & aggravated. As to making money out of tariffs, we the consumers are the ones who will have to pay for them -- although he has so far cleverly avoided slapping tariffs on conspicuous consumer goods like shoes and toys where we as consumers would be most aware of them.
8
This is one of Donnie's old tried and true stunts.
We have all seen it many times.
It's very predictable.
Donnie creates a crisis.
In this case, it's the Trade War with China.
He allows it to go back and forth, and the Stock Market goes up and down in response to it.
Will they settle?
Will the Trade War continue?
Stay tuned America.
Just like episodes of a TV cliffhanger.
His farmer supporters are losing money biggly, so he rides to their rescue and gives them Billions of America's Tax Dollars.
He now takes credit for solving their crisis, which is the crisis that HE gave them in the first place.
Meanwhile, President Xi is watching this clown show and saying "I'm not going to agree to anything that this guy wants. I'm here for life, and this idiot will be gone soon".
For the final episode, Trump will cave in to everything that Xi wants, but Trump will lie and say that it's a great victory.
Crisis over, Trump saves the day.
And his followers, will believe anything that he says.
As I said, we've seen it all before.
It's very predictable.
72
@John Doe stated to perfection.
6
@John Doe you description parallels the war with Oceania in "1984"
1
@Tim
Yes, but Trump never read the novel "1984", nor has he ever heard of George Orwell.
Trump doesn't like to read.
In the immortal words of former Secretary of State Rex Tillerson, "He's a moron".
2
“We’re taking in billions of dollars in tariff money from China,”. No, they are raising billions in tax dollars from American companies and consumers.
5
As much as I despise the man I feel like I understand him but I don't understand why this trade war is still going on. To my mind, Trump is all about the story line. He could have returned to the status quo weeks ago and called it a "Historic Trade Deal!" Why is he still on this? Is he looking for a kickback? Does he want a big win during the campaign? Does he actually believe his rhetoric?
I don't get it.
1
It's about garnering attention, the trade deals are secondary at best. This is the trump show, pure and simple. He has no interest in the people who are hurt by his dithering. Its all about him.
10
I don't think China is in any rush to complete an agreement. With the election approaching and Trump's domestic problems snowballing, they'll squeeze as much out of him as possible because they know how important this trade deal is to him. He's got to get it done and they know it.
He can only bribe farmers for so long and when consumers see how much more Xmas is going to cost this year, they aren't going to be happy. Going into next year it will be a drag on the economy as manufacturing slows even more, here and across the globe.
Trump has to be re-elected. Xi doesn't.
5
Basically the pattern is: On Friday’s, Trump says it’s off, stock drop and his friends all pile in. Then on Monday he says it’s back on, and his friends all make a fortune on Fridays sell-off. Repeat weekly until they’ve made so much money they don’t care about reality, just like him.
39
"The president says his approach has created leverage — and in some cases, he is right. The threat of tariffs has prompted officials from Mexico, Canada, Japan and elsewhere to make concessions they might not otherwise have agreed to. "
Facts not in evidence. What such concessions has Trump received? I can't think of any. I also can't believe his "technique" has achieved anything more than could have been obtained by normal behavior. I do know that what he has accomplished has come at enormous cost.
7
China doesn’t need an agreement. Trump started a fight he can’t win, and is only humiliating our country in the process.
27
And of course those TVs his cult followers watch are exceptionally well made and surprisingly inexpensive and IMPORTED. As are our computers which are made in CHINA.
Trump's going to dangle this fantasy agreement before his gullible cult followers right through the first Tuesday after the first Monday of Nov. 2020.
7
@rocky vermont
Moot point, as Trump won't be in office Nov. 2020. 'Everything Trump touches dies.'
1
It's not that they're easy to win. It's that they're fun. For him.
3
Well, Trump is proceeding with his third set of subsidies to our farmers, for which we, the middle class will subsidize, since it won't be our top tier which pays no taxes.
Plus we, other than the 1%, will again pay for the tariffs of China's products.
So, we pay again, so Trump can lie and fabricate that China is paying!
All, so Trump can take credit for any deal in the end.
And to add insult to injury, we don't think Trump pays any taxes, due to the billions he lost, which his father didn't cover!
8
A good article, but disappointing in that it didn't point out what every economist knows, namely, that the billions raised in tariffs, while undoubtedly flowing to the U.S. Treasury, are coming out of the pockets of Americans at every point in the value added chain, down to the American consumer.
We are all paying new taxes because of Trump's need to showboat to his base of deplorables, who have no appreciation for the fact that they are paying additional taxes.
11
China is NEVER going to agree to a free and fair trade agreement. In that case the best course is for us to not have an agreement; you can't put failure to reach agreement on Trump
3
@RSSF What a pity! All of us are being forced to buy cheap goods from China. And some of them are sold under the Trump label.
2
@RSSF i think you need to re-read the article, it is pointed out that everyone agreed that the Chinese would purchase 20 billion more in agricultural products, a win for everyone, but Trump scuttled it and said he wanted more, which would have been difficult for US farmers to produce, apparently for a meal time story that painted Trump as a hard negotiator. Everyone wants a better deal and it seems the only person holding it up is Trump, so he can brag about it.
4
Some time ago, some Chinese believed that Trump is their best chance to force the Chinese government to change through the trade war. They were Trump fans. But what now? One wonders if they are disappointed at this totally unpredictable president whose only concern is the support of his base for reelection. They should be disappointed for we know in this country what principle Trump has in negotiations with anyone, any country. Oh, yes, he has one principle--himself.
3
Name one concession Canada made that it would not have otherwise agreed to. All Trump did was ruin the greatest and deepest bi-national relationship on the planet, for nothing more than theatrics aimed at bolstering his ignorant base.
61
@North
Well, we're certainly not impressed.
I hate to take it out on American farmers by not buying American produce, but given that many of them voted for Trump they asked for it, IMHO.
12
@LauraF
I wonder how long it's going to take the American farmers to see the
light-- that he's too busy juggling all the other mistakes he's made to care about them.
And to add a double whammy to those farmers, he's scaring the Mexican workers that the farmers rely on to pick their crop. They are too nervous to drive to work because they're afraid of being picked up by ICE.
Trump could have made it easy for both the farmer and his workers by putting in place temporary work permits. And I believe the farmers wanted that or that they will soon want that when they see their unharvested crops rotting in the fields.
Every situation that Trump has handled, he has made worse.
This 100% tally hasn't been made by chance. We should get some doctors to look at this.
Everywhere Trump goes tumult and chaos follows. My guess at what makes Trump run is that he's an adrenaline junky and ironically he's dragging the whole republican party down with him.
1
Oops, almost forgot to mention all the great deals he's made to get taxpayers and foreigners to line his pockets at his properties! I wouldn't want to leave those out.
15
This should come as no surprise to ANYONE!! After all he is a BUSINESSMAN first and a POTUS after. He puts his pockets before the American people every time! This is no different from any other underhanded dealing he’s ever done
11
@Camia
I agree all he cares about is lining his pockets, but I differ on calling him a "business man". He hasn't got a clue about business. First and foremost his is a showman and a charlatan.
@Camia
And for all the glorious and lucrative deals he does and has done isn't it surprising how hard he fight to hide his tax returns?
All those great deals. You think he be so proud to show how smart he is. With his grades too!
1
No sane national leader will sign a trade agreement with Trump. He has clearly demonstrated his word is worthless.
39
Get out a New York City residential phone book, close your eyes, open to any page, put your finger on any name and you will have a person with exponentially more skills as a negotiator than Donald Trump. Trump is so transparent he makes Casper the ghost look as solid as granite. The only positive in Trump's trade war is it seems to be hurting his rural supporters the most. You vote your hate instead of your head and you lose the farm. Literally.
52
But... but... he's the great dealmaker! He wrote the book on it (well, at least he got someone to write a book on it). Didn't you marvel at the way he artful dealt with the N. Korean dictator? And how he artfully left our Kurdish allies to die in Syria? And how he artfully gave that Turkish guy everything he wanted? And how he artfully negotiated arms for dirt on the Bidens? And best of all, how he's bamboozled Putie over and over again? He's the bestest dealmaker of all time, anywhere in the Universe!
27
Tired of all that winning?
7
@Adam S Urban Warrior, you let me know when the winning starts and i will let you know when i am starting to get sick of it...deal?
Another Jerry Springer like reality TV moment at the White House. I take that back, Jerry Springer has more common sense in his pinky finger than DJT has in total.
7
@sloreader
You know, I hadn't thought of comparing Jerry Springer to Trump, but I think you've got something there. When he leaves the White House we could offer him his own TV reality show and it wouldn't be any different from what he's doing now.
@sheila I suspect he is already on that.
"Alternative Facts", the Network.
We elected a buffoon as POTUS. Now we all will pay the price. Nancy Pelosi said this weekend that Trump was an imposter trying to play the role of president. Indeed he is a very incompetent, uneducated actor who too often goes off script, and when he does he just makes a bigger fool of himself before the entire world. The biggest embarrassment though is the fact that so many Americans actually believe he knows what he is doing when he is obviously so far over his head that he lies and jokes about what is very serious business affecting all the rest of us.
23
@RLW
Yes, but you have to remember his 36% base watched and believed it was real his ghastly reality show. They watch and believe ALL reality shows are real.
Thete isn't enough alcohol on earth to make me watch those tacky shows.
1
It doesn't matter that Trump is messing up the markets with his stupid and venal trade games. He has successfully intimidated the Federal Reserve into accommodating his negotiating tactics, thereby propping up the economy.
Cheating so he can claim to win -- that's Trump.
And that's the Republicans.
9
It seems like international trade is complex "who knew?"
6
“We’re taking in billions of dollars in tariff money from China,” Mr. Trump said on Nov. 8.
We're taking in tariff money from China? "You keep using those words. I do not think they mean what you think they mean."
10
China is an existential threat to the United States economically. We need to diversify our foreign suppliers to mitigate this threat. Smart companies have been doing this for the past several years. China cheats and must be held accountable. They do not deserve the continued special trade benefits of a developing country. They are developed.
3
China can certainly hold out until the 2020 election and either compel Trump to cave or be replaced by an intelligent Democratic President with zero reality television show experience but genuine political experience and diplomacy acumen.
3
What makes anyone think trump wants to end his “easy to win” trade war with China, or any of our allies for that matter? He needs enemies to function as a con man and these enemies do just fine. Most of his supporters have no idea the damage he is doing, but they “like the way he talks” so even the farmers who’s livelihood he destroyed will stick with him...at least as long as the bribes...er...I mean “trade subsidies” keep coming.
7
“We’re taking in billions of dollars in tariff money from China,” Individual 1 noted, but forgot to mention that it was out of the pockets of the citizens of the USA.
More "winning."
5
“When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!”
Trump, the self proclaimed genius and business man made this comment over 1 ½ years ago…….have we won yet?
4
Trump's ever vacillating latest assessment of how trade talks with China are going has become utterly devalued currency, although some insiders with a heads up from Trump&Co are no doubt making a killing. As for the China's trade negotiators, they know how badly Trump has been so weakened by domestic politics, less and less reason, if there every was any, to cry uncle under pressure from such a toothless dragon.
3
Reading the Chinese press everyday, it's evident Xi is not going to agree to anything before Trump acquiesces on tariffs. Past performance tells Xi that Trump will change policy on a moment's notice so there is no deal before Trump "declares victory" (sic) and ends the tariffs.
With respect to Trump's claims that China is paying the tariffs, that's utter nonsense. My company and my US customers are paying the cost of Trump's folly and nowhere is intellectual property even being discussed. Trump was warned that no one wins a tariff war but it looked good to his uninformed supporters and he charged ahead.
China thinks in decades. Trump seems to thinks one burger ahead, assuming there is any thought whatsoever to his ever changing stance. The fact that the republicans continue to support this inept narcissist is appalling but don't let anyone tell you the US is winning.
We are NOT!
20
DT has no coherent policy for trade deals, etc. The only way he ever was able to have his organization in New York, was through bullying, threats, lawsuits, and family money. The fact that previous administrations in this country didn't deal with this trade issue with China, and others, was the only reason it resonated with the populace. Now, for those farmers, and others who voted for him, he has no ability to pull a rabbit out of hat, and they will see him for what he is, and was, a charlatan.
6
@MaryKayKlassen "The fact that previous administrations in this country didn't deal with this trade issue with China,.."
Uh, Remember the TPP? that was designed to isolate China and make trade better with the rest of the Asian countries. It had strong IP protections. China was really concerned about it. When Trump thru it out China instantly won and negotiated trade deals with all the countries that had been in the TPP. Of course those same countries now see the US as an unreliable trade partner.
Good Going Trump! We lost, China won and you proved to be a complete fool!
The more Trump feels cornered with the impeachment and with polls showing Dems beating him, the more he pushes the "I alone can dc it" act. He makes mistake after mistake, one bad decision after another, convinced that he knows how to "win." It's frightening that the president of the United States is paranoid and mentally unstable.
4
There are a lot of eyeballs rolling in Beijing. But not much else is happening.
“ Tell them to buy larger tractors. It’s very simple.’”. Only to a simpleton that knows nothing about farms, farmers or their economic realities.
5
When the U.S. falls into recession in 2020 who will Trump blame? Barack Obama? Nancy Pelosi? Adam Schiff? Surely the very stable genius who knows more about the economy than the Economists cannot blame himself. I bet the Wharton School admissions office must be ruing the day they admitted this clown to their school; the reputation of the school has forever been besmirched by this graduate.
5
To anyone who doesn't have Republican perception, Trump is an insecure nobody who is barely literate.
Ultimately, this has low entertainment value.
7
No deal on immigration. No deal on health care. No deal on Gun Control. No deal on spending cuts. No deal on NAFTA. No deal on China Trade. No deal on steel and aluminum imports. No deal on Middle East peace. No deal on Mexico pay for the wall. No deal on jailing Hilary Clinton. No deal on Syria. No deal on Russia. No deal on Iran. No deal on Afghanistan. No deal on climate change. No deal on Pacific Trade. No deal on North Korea.
"That is what i do, is deals."
Donald Trump 5/17/2018
21
Thanks Jared!
1
“Washington-based analysts who have done the calculations say they have difficulty figuring out how the United States could increase its agricultural exports to China to much more than $30 billion a year, without diverting trade from elsewhere.”
This is so reflective of Stable Genius’ understanding of markets. It’s similar to how he managed to bankrupt himself in Atlantic City: He kept building casinos to the point the new ones were canibalizing business from the old ones. He never could grasp that there can be limited numbers of buyers in a given market, and no amount of theatrics or razzle-dazzle or brash talk will conjure up more. The sky is not the limit; available customers are.
9
Trump's unilateral approach to negotiating with China has weakened his bargaining position. Had he kept the U.S. in the Trans-Pacific Partnership, he would have much greater leverage.
6
It seems our president still does not understand tariffs: “We’re taking in billions of dollars in tariff money from China,” Mr. Trump said on Nov. 8.
13
In reply to E LI
Tariffs are paid to the US government by the foreign entity that exports goods or services into the United States. In this case either a Chinese corporation or the Chinese government itself pays money to the US government for the privilege of selling goods or services inside the United States. Check with any reputable economist. I believe I am correct in this.
@John Murray That same reputable economist will tell you that consumers pay more. What do you think Trump is doing with the money besides giving it to farmers who's sales he is depressing with the tariffs in the first place...
1
@John Murray You are wrong. The importers pay the tariffs.
2
Stop looking for instant gratification. This is going to take time, because the President is trying to undo the status quo of decades.
I'm a Montana farmer, very conservative in my spending, and I would love to see the unbalanced tariff situation resolved. For instance, China has been imposing a 65% tariff on American wheat coming into their country. That makes it hard to compete and get a fair price for our grain.
China isn't the only country with these protective tariffs focused on U.S. products.
I am more than willing to tolerate some hard times for a long-term solution. In fact, I've been waiting for decades for a president with enough gumption to address the issue.
We have been subsidizing the world economy since WWII and it's high time that ended.
3
While the American farmer has played a critical role in the development of the country’s economy, and ‘farm-based’ diplomacy has indeed been a crucial aspect of American foreign policy, it is nonetheless somewhat one-sided to state that America has been subsidising foreign businesses:
- you might remember that America was wracked with inflation and no growth in the late 1970s, early 1980s...and I am sure the high ‘Volcker’ interest rates at the time weren’t doing the American farmer and consumer much help.
- but then of course steps in the Chinese (post the Nixon Kissinger led detente), with their low wages, efficient manufacturing and a scale and logistics that could fill Walmart’s, Costco’s and Dollar Stores throughout America.
How important was it for America to have a trade partner which could help support growth, keep consumers happy, lead to low or almost no inflation, and then bring down interest rates?
As a result, the Dow Jones has increases almost 15 times.
America has trade deficits with 100 countries. The trade deficit with China is not unique. Until the country can fix its lack of savings and its persistent fiscal deficit, the trade deficits will continue.
3
@Chin
A 65% tariff on imported American grain has nothing to do with a trade deficit.
You're arguing around the actual problem.
2
If you’re really sure Trump has a genius solution in the works, then why don’t farmers turn away the growing billions of taxpayer bailout they’re holding their hands out for. If you’re more than willing to take the pain, then let’s not keep grabbing from the public coffers. The rest of us are absolutely sick of it, and it’s crystal clear that Trump has no idea what he’s doing.
A lot of your pals are going out of business nonetheless.
1
Trump and his administration only provide lip service to our farmers. Farmers need the free trade; they built a sustainable business need for beans only to watch the tariffs destroy their market. And look at the markets for biodiesel and ethanol; the administration grants waivers to refineries to allow non compliance with requirements of the Renewable Fuel Standard. Buy a larger tractor? Well I guess you'll get a larger hoe when the creditors come collecting.
9
"Instead, the president’s cliffhanger tactics appear to have made it even harder to bring complex trade talks to a close . . ."
I find it hard to believe that this comes as a stunning surprise to anyone with any knowledge of diplomacy, or common sense for that matter.
43
No wonder Trump has insisted that the Wharton School at the University of Pennsylvania not release any of his grades.He seems not to have taken Economics 101 or if he did he flunked it.A trade war between the world’s two largest economies is not productive and can lead to weakening economies worldwide.What ever makes Trump think that China will depend only on the U.S. for pork and soybeans-these items can be purchased from other large economies.Trump doesn’t do deals, he does disasters.Ask manufacturers and midwestern farmers how they are enjoying the Trump trade negotiations.Trump tried to roll Ukraine to get his way-that will not work with China.Trump is so irresponsible with money that he has had five bankruptcies-his reluctance to honestly negotiate with China is an ominous threat to both economies.
82
“We’re taking in billions of dollars in tariff money from China,” Mr. Trump said on Nov. 8 regarding the US import tariffs on Chinese goods.
Trump either continues to lie or blithely exposes his stubborn ignorance on the effect of US import tariffs on American consumers. The US importers of the Chinese goods pay the tariff and pass it along ultimately in the price paid by US consumers. This is basic economics. China isn't paying the tariff. US consumers are paying it in higher prices. After all that is the basic purpose of import tariffs. To increase the cost and resulting price of imported goods to the point where higher cost domestically produced goods can compete with them on price.
93
In reply to P Locke Albany NY
You are mistaken.
China pays the tariffs directly to the US government. I would imagine that Secretary Wilbur Ross of the Commerce department collects the money from the entity that exports the goods from China and sells them in the United States.
1
@P Locke When he opens his mouth, lies fall out. That's all he is.
3
@John Murray Is that sarcasm or ignorance? I'm hoping the former. Ending with /s would clarify in future.
5
Our stable genius president has a decent economy going for him and the economy is the main reason why he has a decent chance of winning a second term. I would gladly take a brief economic slowdown in exchange for a new president next year.
120
If Trump manages to tank the global economy, he'll have done more to combat climate change than anyone could have possibly imagined.
58
@H
OMG, you found an actual bright side to this horror.
Nice! Much respect!
8
Trump always has to be the center of attention.
That is why he demands changes to everything at the last minute, so that he can brag about "beating the other guy". The end result is chaos.
He has run his mom and pop sole proprietorship companies using this chaotic process, and he has a long sting of failures and bankruptcies to show for it.
My money is betting that he will not get any trade deals finalized, because at the end of each negotiation, he expects to extract one more concession from the other side, and normal people get their backs up when that happens.
Now even the North Koreans have publicly announced that they will not agree to any more meetings, which Trump uses for publicity, but which the North Koreans see as failing to reach any meaningful conclusions.
Donald Trump claims to be a great negotiator, but his record is one of failure upon failure. Why would anyone expect a different outcome now?
155
@Joe From Boston Hey, yesterday he contacted Kim for the deal of the century and another summit. Have to deflect the first three were failures so lets do another. Blowhard supreme. Jim Trautman
3
@Joe From Boston
If Trump had the brains God gave a goat he'd have left everything as is and just announced "changes" that succeeded brilliantly and called it a day.