Ironic that China is going to put tariffs on pork--I didn't think the budget bill Trump signed today was an exportable product!
Trump’s Tariff Threats Beginning To Work
"...As with any action this president takes, the media told us that thanks to the tariffs the country was headed for a disaster of biblical proportions, you know Old Testament, real wrath of God type stuff– fire and brimstone coming down from the skies! rivers and seas boiling! Forty years of darkness! Earthquakes, volcanoes…The dead rising from the grave…human sacrifice, dogs, and cats living together, NY Jets winning the Super Bowl… mass hysteria.
While the above scenario almost happened in the movie “Ghostbusters” President Trump’s tariff threats are having a more positive effect. China is negotiating with the US on ways to remove some of the laws that are unfair to US business.
The negotiations are still ongoing but per the Wall Street Journal:
China and the U.S. have quietly started negotiating to improve U.S. access to Chinese markets, after a week filled with harsh words from both sides over Washington’s threat to use tariffs to address trade imbalances, people with knowledge of the matter said.
The talks, which cover wide areas including financial services and manufacturing, are being led by Liu He, China’s economic czar in Beijing, and U.S. Treasury Secretary Steven Mnuchin and U.S. trade representative Robert Lighthizer in Washington.
Privately, Liu and Mnuchin exchanged letters in the past week on further opening China’s financial services sector and cutting Chinese tariffs on imported cars, according to the Financial Times.
China has a 25 percent tariff on U.S. cars and is now discussing lowering that tariff. China has offered to buy
more semiconductors from the United States by diverting some purchases from
South Korea and
Taiwan, to help cut China’s trade surplus with the U.S., CNBC confirmed on Monday. And Chinese officials are also rushing to finalize new regulations by May that will allow foreign financial groups to take majority stakes in its securities firms.
Premier Li Keqiang said on Monday China and the United States should maintain negotiations and he reiterated pledges to ease access for American businesses, as China scrambles to avert a trade war.
Li told a conference that included global chief executives that China would treat foreign and domestic firms equally, would not force foreign firms to transfer technology and would strengthen intellectual property rights, repeating promises that have failed to placate Washington...."
