Potential trade deal with China... (1 Viewer)

Joe OKC

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Getting the news on phase one... Trade negotiations.. China goes from purchasing about 16 Billion a year if US agriculture goods to now 50 Billion... Over double...

am I hearing this correct?

Hummmm...
 

TheRealJRad

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What I saw was a "tentative" trade deal. I'm curious what the actual gain is based on what China was buying before this, and does this offset the damage done by the tariffs? The timeframe of this purchase still isn't even clear.

Considering the damage done so far to the economy over this, whatever we get really better be worth it.
 

DJ1BigTymer

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Getting the news on phase one... Trade negotiations.. China goes from purchasing about 16 Billion a year if US agriculture goods to now 50 Billion... Over double...

am I hearing this correct?

Hummmm...
Forgive me if I wait for something based off of a signed trade deal instead of trump's words.

Trade stats before trump

U.S. exports of agricultural products to China totaled $21 billion in 2016, our 2nd largest agricultural export market. Leading export categories include: soybeans ($1 billion), coarse grains (ex. corn) ($1.0 billion), hides and skins ($949 million), pork and pork products ($713 million) and cotton ($553 million).
 

N.O.Bronco

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Forgive me if I wait for something based off of a signed trade deal instead of trump's words.

Trade stats before trump
And around 25 billion in 2017. Which would put them on pace to have been importing close to 35 billion this year had the trade war not happened.

Now, if China truly does accelerate their purchases that is a good thing, but still really wouldn't outpace most of the gains one could have gotten by simply re-working and leveraging an Asia-Pacific trade deal while still importing to China, but it's not like the Joe-Okc's of the world are really in this because they have a thing for maximizing world trade returns, otherwise, they wouldn't have voted for Trump.
 

The Moose

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Getting the news on phase one... Trade negotiations.. China goes from purchasing about 16 Billion a year if US agriculture goods to now 50 Billion... Over double...

am I hearing this correct?

Hummmm...

So in a few years that will pay for all the money we gave the farmers!

So is this a win? Not by my count if it takes years to just break even.

Oh and not a thing counts until it is signed!

One arse can tweet it all away!
 

NewOrleansFan

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Waiting for details confirmation from the Chinese side. is it sad that I don’t believe what a sitting US president says?

 

SystemShock

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Maybe a mod should change the title, as nothing has happened, nothing has been signed, and we don't know any actual details on the deal.
 
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Joe OKC

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You guys really crack me up... and then having a Mod change the thread title to insinuate that nothing has happened...

Trump said it encompasses agreements on intellectual property and financial services. He said it also includes a deal for China to purchase up to $50 billion worth of agricultural goods from American farmers.



]The details of the agriculture deal are rough. If China increases purchases of U.S. agricultural goods by $40 billion to $50 billion in a year, that would mark substantial gains. In 2017, before the trade war started, China purchased about $24 billion a year of U.S. food and agricultural exports. If the promised sum is spread out over some longer period of time, it is less significant.




But hey... Here's a pic of US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu cause I know somebody is gonna say that they never even met.

 

DJ1BigTymer

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You guys really crack me up... and then having a Mod change the thread title to insinuate that nothing has happened...

Trump said it encompasses agreements on intellectual property and financial services. He said it also includes a deal for China to purchase up to $50 billion worth of agricultural goods from American farmers.



]The details of the agriculture deal are rough. If China increases purchases of U.S. agricultural goods by $40 billion to $50 billion in a year, that would mark substantial gains. In 2017, before the trade war started, China purchased about $24 billion a year of U.S. food and agricultural exports. If the promised sum is spread out over some longer period of time, it is less significant.




But hey... Here's a pic of US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu cause I know somebody is gonna say that they never even met.

Forgive me for not taking trump at his word, after all that DPRK denuclearization deal worked out swimmingly. Get a signed deal done and publish the meat of the deal, then he would have earned my praise for the deal.
 

Charlie Brizzown

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You guys really crack me up... and then having a Mod change the thread title to insinuate that nothing has happened...

Trump said it encompasses agreements on intellectual property and financial services. He said it also includes a deal for China to purchase up to $50 billion worth of agricultural goods from American farmers.



]The details of the agriculture deal are rough. If China increases purchases of U.S. agricultural goods by $40 billion to $50 billion in a year, that would mark substantial gains. In 2017, before the trade war started, China purchased about $24 billion a year of U.S. food and agricultural exports. If the promised sum is spread out over some longer period of time, it is less significant.




But hey... Here's a pic of US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu cause I know somebody is gonna say that they never even met.

The article says a tariff increase was scheduled to kick in on October 15. The US has agreed to not impose those tariffs on Tuesday. Trump says China has promised to buy $40B over the next year. Details still being worked out and hopefully ironed out in a month.

So on Tuesday, China gets a benefit. We’ll see if the US gets anything in a month, possibly a year? Am I misinterpreting something?
 
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Taurus

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You guys really crack me up... and then having a Mod change the thread title to insinuate that nothing has happened...

Trump said it encompasses agreements on intellectual property and financial services. He said it also includes a deal for China to purchase up to $50 billion worth of agricultural goods from American farmers.



]The details of the agriculture deal are rough. If China increases purchases of U.S. agricultural goods by $40 billion to $50 billion in a year, that would mark substantial gains. In 2017, before the trade war started, China purchased about $24 billion a year of U.S. food and agricultural exports. If the promised sum is spread out over some longer period of time, it is less significant.




But hey... Here's a pic of US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu cause I know somebody is gonna say that they never even met.

Probably Mnuchin at his trial.

Isn't that what all Trump's staff end up doing? Claiming they never met someone when there's photos of them swapping spit at a gala?
 

SystemShock

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You guys really crack me up... and then having a Mod change the thread title to insinuate that nothing has happened...
I am glad you are amused... but the fact still is, nothing has been signed, and we don't know what the actual agreement will look like, if it actually happens that an agreement is in fact signed.

You posted this; my highlights:
The details of the agriculture deal are rough. If China increases purchases of U.S. agricultural goods by $40 billion to $50 billion in a year, that would mark substantial gains. In 2017, before the trade war started, China purchased about $24 billion a year of U.S. food and agricultural exports. If the promised sum is spread out over some longer period of time, it is less significant.
Do you still don't get that this is indeed a potential deal, and not a done deal? And that the only thing that you think you know is speculation?
Is it really that hard for you to understand this?

But hey... Here's a pic of US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu cause I know somebody is gonna say that they never even met.
We aren't you.
 

mr.t

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What I saw was a "tentative" trade deal. I'm curious what the actual gain is based on what China was buying before this, and does this offset the damage done by the tariffs? The timeframe of this purchase still isn't even clear.

Considering the damage done so far to the economy over this, whatever we get really better be worth it.
What damage. No inflation at all. Job creation and wage growth are both good. We have China over a barrel. We still have 25% tariff in place. China is the one in trouble. Their debt is about 250 % of GDP and the Yuan is a mess. They had swine flu destroy their pork supplies and don't have enough soy beans to feed themselves. Plus, their supply chain is moving to Vietnam and Malaysia. Obama, Bush, and Clinton allowed China to kill our jobs.
 

NEBaghead

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What damage. No inflation at all. Job creation and wage growth are both good. We have China over a barrel. We still have 25% tariff in place. China is the one in trouble. Their debt is about 250 % of GDP and the Yuan is a mess
240% GDP? Link please.
 

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Expect Trump to take the first deal he can get in order to distract from his horrible mistakes with Ukraine and Syria. He’ll take whatever he can get to make himself look good when it’s announced regardless of how horrible it is for the US long-term.
 

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