TRUMP WINS: China Offers Trade Concessions
Barack Obama was one dumb sack of Leftism, with no understanding of economics.
America contains the most robust economy in the history of man, yet Obama never used that his advantage.
Country after country pilfers the American economy, then offers beads to the natives in return. And all under the watchful eye of America’s PGA-tour president.
However, things are very different under President Trump.
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As Reuters reports,
China will offer the Trump administration better market access for financial sector investments and U.S. beef exports to help avert a trade war, the Financial Times reported on Sunday, citing officials familiar with the matter.
“China was prepared to (raise the investment ceilings) in the BIT but those negotiations were put on hold (after Trump’s election victory),” the Financial Times also reported citing a Chinese official involved in the talks.
U.S. Commerce Secretary Wilbur Ross said on Friday that President Donald Trump and Chinese President Xi Jinping have agreed to a new 100-day plan for trade talks on Friday.
One down, and how many more to go?
According to The Balance,
The United States has the world’s largest trade deficit. It’s been that way since 1975. The deficit in goods and services was $502 billion in 2016. It occurred because imports were $2.7 trillion and exports were only $2.2 trillion. (Source: “U.S. International Trade in Goods and Services,” U.S. Census Bureau.)
The U.S. trade deficit in goods, without services, was $750 billion. The United States exported $1.5 trillion in goods.
The biggest categories were commercial aircraft, automobiles and food.
It imported $2.2 trillion. The largest categories were automobiles, petroleum and cell phones. (Source: “Foreign Trade Balance,” U.S. Census Bureau.)
And who are the big offenders when it comes to trade?
The article continues,
That’s why the countries with which the United States has the largest trade deficits in goods are not always its most important trading partners. Some nations export a lot without importing much. But the top five trading partners also have the largest deficits. Please note that the Census provides trade data by country for goods only, not services.
China — $579 billion traded with a $347 billion deficit.
Canada — $545 billion traded with a $11 billion deficit.
Mexico — $525 billion traded with a $63 billion deficit.
Japan — $196 billion traded with a $69 billion deficit.
Germany — $164 billion traded with a $65 billion deficit.
China LOVED Obama when it comes to trade.
They should demand for the next 8 years that all males be named Barack. The problem is that would be the equivalent of “Sucker!”
Only a brain-dead zombie could look at this legacy of trade and say, “Well done!”.