By Jon Dougherty
(TNS) If Donald Trump cured cancer tomorrow, Leftists, Democrats, and NeverTrumpers would complain that he didn’t do it fast enough.
But the fact is, he’s delivered more promises to the American people than any president in recent member, and that is especially true of his promises to revive a moribund economy bequeathed to him by the Marxist-in-chief, Barack Obama.
For example, no one, even the pseudo-conservative intellectual crowd, gave Trump any chance of getting the Chinese to the trade negotiation table.
They all said that the world’s No. 2 economy didn’t have to give an inch to the world’s No. 1 economy, despite the fact that without the American market, Chinese exports would tank. And while the American consumer might be hit with higher prices for some goods, Trump, the businessman, knew that the Chinese needed us a lot more than they admitted.
Turns out the president’s business knowledge and instincts were spot-on. It took awhile, but after a couple of years of tariffs, the Chinese economy lost a lot of momentum and employment for a restive population.
Now, Beijing is ready to sign “Phase One” of a trade deal that will not only help level the playing field, but also reduce the amount of money Americans are paying to build up the Chinese military (what do you think Beijing has been doing with a $300-$450 billion trade surplus every year for two decades?).
Chinese President Xi Jinping’s chief trade negotiator will travel to Washington early next week to sign a phase-one trade deal with the U.S., China’s Commerce Ministry said Thursday, the first official confirmation by Beijing on the signing of an agreement that could help ease bilateral tensions.
The Chinese delegation, to be led by Vice Premier Liu He, will visit Washington from Monday to Wednesday, Commerce Ministry spokesman Gao Feng said at a weekly briefing.
Washington and Beijing said on Dec. 13 that the two sides had reached a first-stage deal, under which China would greatly increase its purchases of U.S. farm goods and other products, further open its financial sector, pledge not to devalue the Chinese yuan to help the country’s exporters and better protect American intellectual property.
In exchange, the Trump administration canceled new tariffs on roughly $156 billion in Chinese imports that were set to take effect Dec. 15. It also agreed to cut in half the existing 15% tariff rate on roughly $120 billion of Chinese goods that had been imposed on Sept. 1.
The White House has said that President Trump will travel to Beijing at some point this year to begin negotiations on Phase Two. The Chinese haven’t commented on that part of the negotiations, instead content to just note that they will see how the first phase is implemented.
Reuters noted last month the deal “reduces some U.S. tariffs on Chinese goods while boosting Chinese purchases of American farm, energy and manufactured goods and addressing some U.S. complaints about intellectual property practices.”
U.S. officials say China agreed to increase purchases of American products and services by at least $200 billion over the next two years, with an expectation that the higher purchases will continue after that period.
The purchases include manufactured goods, agricultural goods, energy and services, and are expected to reduce the $419 billion U.S. trade deficit with China, officials said. China bought $130 billion in U.S. goods in 2017, before the trade war began, and $56 billion in services, U.S. data show.
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Trump knew there was never any question about whether the Chinese would come to the negotiating table and make a deal on trade. It was always just a matter of when it would happen. That he’s made some progress this early in his first term is a remarkable win for our country, including for those Americans who can’t stand him.
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