Daily Mail: China's president puts out terms for ending the trade war with the U.S. – demanding Trump stop banning Huawei technology and lift permanent tariffs
* Chinese President Xi Jinping has developed plans to present to President Trump
* The Wall Street Journal reported the terms of what he is seeking just as Trump landed in Japan
* The two leaders are set to meet on Saturday
* Trump's trade negotiators will meet counterparts earlier
* China wants ban on U.S. tech sales to telecom giant Huawei
* Xi also wants the U.S. to lift tariffs the Trump administration imposed
Chinese President Xi Jinping is preparing to present President Donald Trump with a list of demands for ending the U.S. trade war that has rattled markets as Trump prepares to impose an additional $300 in tariffs.
The Wall Street Journal published China's latest demands almost precisely as Trump landed in Osaka.
One of China's key demands is for the U.S. to pull back a ban on U.S. technology sales to telecom giant Huawei, according to the Journal, which cited Chinese officials.
Read more ....
WNU Editor: If this WSJ report is true .... China to Insist U.S. Lift Huawei Ban as Part of Trade Truce (Wall Street Journal), it tells me that China will not compromise nor accommodate U.S. demands to lower the trade deficit or lower trade barriers to U.S. goods to China. And while there will be a trade truce (a condition that President Xi insisted upon if he was to meet President Trump) .... Trade war: US and China agree to tentative truce before G20 summit (SCMP), the prospects of a trade deal in the future looks dim. My gut is telling me that the Chinese are going to wait until after the U.S. Presidential in 2020, and hope that the Democrats (who have signalled that they oppose many of President Trump's trade war actions) win the White House.
More News On China Laying Its Conditions For A Trade Deal With The U.S.
China’s Xi to present Trump with terms for settling trade deal: WSJ -- CNBC
China to insist US lift Huawei ban during G-20 meeting as part of trade deal, report says -- FOX News
China urges U.S. to lift sanctions on Huawei as Trump-Xi meeting looms -- Reuters
Beijing claims it's not afraid of Trump's 'evil threat' after the US president says he plans to 'take in billions and billions of dollars' from Chinese goods with a potential tariff hike -- Daily Mail
China Says Its Demands for a Trade Deal With the U.S. Haven't Changed -- Bloomberg
"U.S. demands to lower the trade deficit or lower trade barriers to U.S. goods to China. "
ReplyDeleteAs to the former, the Chinese could say do not blame us for your consumer demand.
As to the latter, why anyone, the next administration post 2020, would take that lying down is beyond me. It is traitorous. Apparently, Democrats want to go there.
Xi: “I demand you allow in our invasive eavesdropping comm technology so we can continue to spy and steal and rip you off because that’s what we demand”.
ReplyDelete/there’s this book by Dale Carnegie that Xi might ought to read....
Trump will be seeding, privately mind you, ways to back out of the tariffs issue he created while looking good. Trump ever looking good is the problem. There are already sufficient devices in the homes and offices spying on people.
ReplyDelete"seeking"
ReplyDeleteWhat gives you that idea Bob? I don’t see President Trump seeking an escape from the “tariffs issue” at all. Actually the exact opposite is the case.
ReplyDeleteIt’s always comedy gold when lefties try to psychoanalize Trump.
Russ
ReplyDeleteEmphasis on "will". Remember the REE threat. It has far more significance for America then Trump ripping of the citizens for the tariff money.
As per usual Bob, you make little sense and don't know WTF you're talking about.
ReplyDeleteIf US citizens were paying these tariffs, China would not be squealing to loudness that they are. If US consumers were paying these tariffs, multi-national corporations would not be vacating China in waves.
You see Bob, when one widget is more expensive than the other widget, US consumers will opt for the lesser priced widget and leave the more expensive widget on the shelf. Causing the the corporation who imported the more expensive widget (from China with the tariffs) to rethink its manufacturing strategy.
Thence the corporation with the more expensive widget will naturally move its manufacturing to a country that does not have tariffs. Thereby lowering its cost of production and regaining a competitive price.
MACRO,
ECON,
101,
R,
Russ
ReplyDeleteDon't feel bad Russ, you are't the only one being sucked in by Trump's lies.
Think about the transaction processes and try really hard to fit a point at which the government of China, pays the tariff. Or, you could do a little research. Think about sales tax assessed on products whether they come from China or not, in the USA, in effect it is a tariff, and guess who pays that tariff.
As for corporations moving out, it isn't as black and white as you might think. Again do some research.
You need to do some research on REE and how much China shows up in products manufactured around the world, including the USA.
Bob - even CNN is not impressed with China's rare earth elements threats.
ReplyDeletehttps://www.cnn.com/2019/05/21/politics/china-us-trade-war-rare-earths-intl/index.html
[snip]"China holds around one-third of remaining reserves, roughly equivalent to those of Brazil and Vietnam combined, but is also one of the leading consumers of rare earths in order to fuel its own technology industry. By 2025, China is expected to be net importer of rare earths, a factor that may lead Beijing to hesitate to drive up global prices or set a precedent of using rare earths as a political tool."
You can bang on all you want about US citizens paying tariffs. If that were the case, and prices were as sky high as you fantasize, there would be a consumer revolt. But there isn't. You wouldn't know as you don't even live in the US. You read your Canadian/Brit propaganda and believe the "news" that fits your anti-Trump, anti-American template. You need to get out more and stop relying on fake news for your arguments.
Russ
ReplyDeleteThat was a desperate response if I ever read one.
You should do a some real research into REE if you want to understand that issue.
Canadian/Brit propaganda? I read the US news on a variety of sites.
A "consumer revolt"? In America would really be something to see, but don't hold your breath. After Trump's massive tax rebate to the Corporations got a pass? People losing houses following healthcare expenses? Bank's getting a pass on fraud that caused massive destruction in the housing market? Given the amount of money involved to finance the military and no accounting on either financial aspects, or military performance? All that stuff and basically crickets.
What makes you think price increases do to the tariffs would be "sky high"? I said "you" because I never utter the words, I only said that the tariff costs are passed on to the American consumer. It is Anon that keeps stressing that other products manufactured in other Asian countries by other companies would be cheaper.
Besides the tariffs are based on the value of the item being imported not the final selling price which can be significantly higher. That means even if they passed it on in the shelf price it would not be increased that much. The point is and always was, that it is not China paying the tariff but the American consumer. Trumps gift to Americans.
By the way, are you aware of provisions that allow products manufactured in other Asian countries, but that contain less then 40% of material manufactured in China, are not subject to the tariffs?