When Trump’s history is written one of the greatest lessons will be to never, ever give up. Trump defies the odds every time, or so it seems.
In reality, he never gives an inch, he never rolls over so when it doesn’t work out no one hears about it or cares because he just beat 30-1 odds on this other deal.
You miss 100% of the shots you don’t take, and Trump is not afraid to jack’em up. This China deal is a massive move forward.
The cynics and critics on CNN are mocking the deal a bit saying the devil is in the details on intellectual property theft and other issues because they cannot give Trump a win. Ever.
But what they don’t know or won’t tell their audience, and something that Trump’s team surely knows and moreover knows now is the time to squeeze China over it, is that China has been getting serious about intellectual technology for a while on its own.
For one main reason – Greed and selfishness. China is finally starting to invent stuff in China by the Chinese. They have turned the corner from just copying to creating.
Intellectual property is the most valuable thing on the planet and the Chinese don’t want to see their own IP stolen by bad actors in their country.
They didn’t care if ours was stolen and in fact, encouraged it to modernize the country.
But now that they are making the stuff they need a system to enforce rights of the creators or the smart people will leave and come to America where ideas are protected.
So the Chinese government will protect the most valuable asset they have – intellectual property including ours – they just needed a final push to finish what they started.
Trump gave them that, gave them the final push they needed after years of work on their own to clean up the mess.
In other words, CNN is wrong don’t listen to them.
From Fox Business:
U.S. sources have told FOX Business the purchases will total $205 billion to $210 billion over two years while Chinese sources indicate the buys would be between $215 billion and $220 billion.
“There’s a very detailed dispute-resolution process,” Treasury Secretary Steven Mnuchin told FOX Business’ Lou Dobbs on Tuesday evening. “This is an enforceable agreement just as the president dictated it would be.”
The pact, which follows a trade war of nearly two years, is slated to be signed by U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He at the White House. The purchase details are contained in a section of the agreement that officials have said won’t be made public.
Beijing will purchase up to $50 billion of crops, according to President Trump and Treasury Secretary Steven Mnuchin, $40 billion of which has been confirmed by Chinese sources. China has also agreed to buy $40 billion in services, $50 billion in energy and $75 billion to $80 billion worth of manufacturing, according to Chinese sources.
“This is a great win for American business and American farmers,” Mnuchin said.
Aside from the more than $200 billion of Chinese purchases, Beijing has agreed to stop the theft of intellectual property and refrain from manipulation of its currency. The U.S., in return, will reduce tariffs on some products made in China while keeping duties on $375 billion worth of Chinese goods.
.@realDonaldTrump: Today we take a momentous step, one that has never been taken before with China, toward a future of fair and reciprocal trade as we sign phase one of the historic trade deal pic.twitter.com/16tIqLXxr6
— Wojciech Pawelczyk 🇵🇱🇺🇸 (@PolishPatriotTM) January 15, 2020
From USA Today:
As part of the Phase One deal, the U.S. agreed to shelve plans for tariffs on another $160 billion in Chinese goods that had been set to take effect last Dec. 15. The U.S. also said it would cut by half the 15% tariff rate it imposed on $120 billion of Chinese goods Sept. 1.
In return, China agreed to buy an additional $32 billion in American agricultural products, including soybeans and other crops, over the next two years, according to U.S. officials. China also promised to open its financial markets to U.S. companies, address concerns about protecting the intellectual property of American companies doing business there and enact new guidelines for how it manages its currency.