President Donald Trump is enjoying himself, showing off “Made In America” goods on the White House South Lawn Monday as his competitors the Chinese are suffering punishing economic numbers.
MarketWatch reports Monday: “President Donald Trump on Monday took credit for a slowdown in the Chinese economy that he says will lead to more favorable trading terms with the world’s second-largest economy.
China on Sunday night reported second-quarter GDP growth of 6.2%, the worst showing in at least 27 years.
Over two tweets, Trump said China wants to make a trade deal and insisted that U.S. taxpayers aren’t paying tariffs.”
MarketWatch passage ends
President Donald Trump optimistically returned to negotiations with China in late June, stressing that he is not going to raise tariffs against the Chinese while talks are in progress. Trump is fighting to reverse the decades-old trade imbalance between the two superpowers, because China has been grossly taking advantage of the United States for a very long time.
President Donald Trump’s envoy finished talks in Beijing with Chinese leaders as the United States and China come closer to reaching a massive trade agreement that would re-shape the economies of both nations.
Now, the series swings back home to the United States for the final round of negotiations.
Steven Mnuchin and Robert Lighthizer flew to Beijing and did not experience any difficulty — at least in public — but President Donald Trump still holds all the cards.
For decades, China has taken advantage of the United States in trade deals, exploiting the weakness of past Republican and Democrat administrations. But Trump changed the game.
American tariffs struck a decisive blow to the Chinese economy, forcing the business-savvy Communists to come to the table. In 2018, China posted its worst economic growth figure — 6.6 percent — since 1990, when then-president George Bush used the collapse of the Soviet Union to push through a globalist America Last foreign policy imitated by his successors Clinton, Bush, and Obama. China’s entry into the World Trade Organization in 2001 spelled doom for American manufacturing. The Midwest, battered also by NAFTA and the more than $1 trillion taxpayer tab for the Iraq War, fell into deep economic decline.
But Trump is bringing it back, aided by Mnuchin and his economic adviser Larry Kudlow, who is more than willing to play ball with tariffs in order to correct the massive trade disparity enjoyed by the Chinese regime.
The two sides have already agreed on one major point: China is going to purchase about $1.2 trillion in additional American goods over a six-year period, enough to wipe out the trade imbalance by the year 2024.
But the devil is in the details. The American people deserve 5G technology without fear of Chinese companies spying on us, even more than they do now. And the Chinese shamelessly rip off our tech innovation with intellectual property theft. Inventors — like content creators — don’t like being ripped off.
Trump has the upper hand because he can always call the deal off and impose more tariffs on China. Who can stop him? Not the well-funded but misguided Koch political network, which fought tooth and nail against tariffs (they like so-called “free trade” because they like cheap overseas labor). The Kochs were completely incapable of stopping Trump’s tariffs, which must really make them mad. Some people just don’t want to see America do well. Sad!
Now the Chinese vice premier is gearing up for a trip to Washington, D.C. Has he read “Art of the Deal”? Perhaps the North Koreans can lend him their copy, gifted to them by America’s informal ambassador Dennis Rodman.
Good work, Lighthizer and Mnuchin!
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