Trump Blinking On Trade War?

[Zippyjuan]

Offering a reduction in Chinese tariffs. He again claimed that a China deal will happen soon- but we have been hearing that for months now. Usually to boost the stock market. Last February he even talked about a signing ceremony for a deal at Mar a Largo within a month. George W. Bush used to haul out vague "terror alerts" when he started to slip in the polls during his re-election bid. After the vote was over, the "terror alerts" stopped.

U.S. offers China tariff rate cut; announcement possibly 'imminent'


WASHINGTON/BEIJING (Reuters) - The United States has offered to cut existing tariffs on Chinese goods by as much as 50% and suspend new tariffs scheduled to go into effect on Sunday in an attempt to secure a “Phase One” trade deal.

U.S. negotiators have offered to reduce tariffs on about $375 billion in Chinese goods by 50% across the board, two people familiar with the negotiations said on Thursday, and suspend tariffs on $160 billion in goods scheduled for Dec. 15.

U.S. Trade Representative Robert Lighthizer told senators during a briefing that announcements were possibly “imminent” on U.S. tariffs, Senator John Cornyn told reporters.

U.S. President Donald Trump and Chinese President Xi Jinping have been embroiled in a 17-month trade war that has slowed global growth and dampened profits and investment for companies around the world.

Dec. 15 is a crucial date. If the United States does not suspend the new tariffs, Beijing officials will apply more tariffs on U.S. goods and may suspend talks until after the U.S. presidential election in November 2020, many trade experts believe.

Trump is expected to meet top trade advisers at 2:30 on Thursday afternoon to discuss trade negotiations.

The final percentage of tariff rate reduction the United States might offer Beijing has not been set, and will be proportional to the amount of the Section 301 trade war issues addressed by Chinese concessions, one source said.

Trump said on Thursday the United States was “very close” to nailing down a deal. “Getting VERY close to a BIG DEAL with China,” Trump posted on Twitter. “They want it, and so do we.”

During a regular briefing on Wednesday in Beijing, Gao Feng, spokesman at the Chinese commerce ministry, told reporters: “The two sides’ economic and trade teams are maintaining close communication.”

Stock markets jumped on Trump's tweet, and the S&P 500 .SPX shot to a record high and was trading up 0.5% in the afternoon.

The White House had no comment on any tariff reduction offers.

The United States is due to impose tariffs on almost $160 billion of Chinese imports such as video game consoles, computer monitors and toys on Dec. 15.

Trump’s son-in-law, Jared Kushner, has recently taken a larger role in U.S.-China trade negotiations, and is among the advisers pushing the 50% tariff rollback, one person briefed on the talks said.

[Swordsmyth]

two people familiar with the negotiations said on Thursday

We've had this rumor before and Trump shot it down.

[Brian4Liberty]

Beijing officials will apply more tariffs on U.S. goods and may suspend talks until after the U.S. presidential election in November 2020

The Chinese were never going to sign a deal until after the election. Foreign election meddling takes many forms.

[Swordsmyth]

President Donald Trump is set to meet with his top trade advisers Thursday afternoon to discuss a potential agreement on trade with China.
The president has not yet made a decision on whether to approve the terms of a potential deal with China, according to a person familiar with matter.
Bloomberg News reported on Thursday afternoon that U.S. negotiators had reached the terms of a phase-one trade deal with China that now awaits President Donald Trump’s approval. The report cited “people briefed on the plans.”
This week, however, White House trade adviser Peter Navarro told Breitbart News that Americans should be cautious about Bloomberg and Wall Street Journal stories on trade negotiations, saying that they often amounted to Chinese propaganda.

More at: https://www.breitbart.com/economy/20...al-china-deal/

[Origanalist]

[snip]
This week, however, White House trade adviser Peter Navarro told Breitbart News that Americans should be cautious about Bloomberg and Wall Street Journal stories on trade negotiations, saying that they often amounted to Chinese propaganda.

More at: https://www.breitbart.com/economy/20...al-china-deal/

How can he say that about two venerated American institutions? The words Bloomberg and America are practically synonymous.

[Zippyjuan]

President Donald Trump is set to meet with his top trade advisers Thursday afternoon to discuss a potential agreement on trade with China.
The president has not yet made a decision on whether to approve the terms of a potential deal with China, according to a person familiar with matter.
Bloomberg News reported on Thursday afternoon that U.S. negotiators had reached the terms of a phase-one trade deal with China that now awaits President Donald Trump’s approval. The report cited “people briefed on the plans.”
This week, however, White House trade adviser Peter Navarro told Breitbart News that Americans should be cautious about Bloomberg and Wall Street Journal stories on trade negotiations, saying that they often amounted to Chinese propaganda.

More at: https://www.breitbart.com/economy/20...al-china-deal/

Peter Navarro- who admitted himself that he cites a made-up economist.

https://www.businessinsider.com/pete...expert-2019-10

Peter Navarro was found earlier this month to have cited a supposed Harvard-educated investor and China hawk named "Ron Vara" in his publications. Ron Vara turned out to be a nonexistent person, an anagram of Navarro's name.

"Vara" is cited in many of Navarro's books on economics, and has been quoted giving an extreme picture of the threat that China poses to the world economy.

[Swordsmyth]

Peter Navarro- who admitted himself that he cites a made-up economist.

https://www.businessinsider.com/pete...expert-2019-10

That is irrelevant.

This is just a rumor from unreliable sources.

[Zippyjuan]

That is irrelevant.

This is just a rumor from unreliable sources.

Yeah- Navarro.

Navarro has since admitted to inventing Vara, but claimed that the name is a "whimsical device and pen name" that didn't serve as a factual source for his work.

[Swordsmyth]

Yeah- Navarro.

Bloomberg and WSJ are even more unreliable.

[Zippyjuan]

Trump declared a "phase one" trade deal in October. It turned out to be fake.

[r3volution 3.0]

Short of capitulation by the US, I don't see China accepting anything of any significance till after the election.

[Zippyjuan]

Short of capitulation by the US, I don't see China accepting anything of any significance till after the election.

Meanwhile, Trump will accept anything so he can declare victory before the election.

[r3volution 3.0]

Meanwhile, Trump will accept anything so he can declare victory before the election.

Depends on its spinnability

[Zippyjuan]

Depends on its spinnability

He has been spinning about having a deal with China since at least February when he said a signing ceremony was going to be scheduled at Mar a Largo. Still nothing. He is desperate. "Trade wars are easy".

[r3volution 3.0]

He has been spinning about having a deal with China since at least February when he said a signing ceremony was going to be scheduled at Mar a Largo. Still nothing. He is desperate. "Trade wars are easy".

Nonetheless, accepting a clearly lopsided deal is likely to be a political problem.

Trump's whole brand is basically "WINNING!"

There are plenty of Dems, and even a few lingering free trade GOPers, who would be happy to identify a losing deal as such.

In other words, I don't see Trump accepting a (significant) deal either, but we can expect plenty of hope-based hype.

[Zippyjuan]

Nonetheless, accepting a clearly lopsided deal is likely to be a political problem.

Trump's whole brand is basically "WINNING!"

There are plenty of Dems, and even a few lingering free trade GOPers, who would be happy to identify a losing deal as such.

In other words, I don't see Trump accepting a (significant) deal either, but we can expect plenty of hope-based hype.

No matter how insignificant any deal may be, it will be the "best deal ever!" Just like previous agreements were the "worst deal ever!"