Trump Triumphs in China TRADE DEAL: Did In Months What Obama Couldn’t in Eight Years
During the presidential campaign, Donald Trump criticized the job Obama did in trade. How do you run a deficit of over half a TRILLION in trade, and never address it? Put a leftist moron in charge.
President Trump backed up what he promised. He just made a deal that the Left couldn’t even imagine.
One has to wonder how the Left will criticize about this deal. Because they refuse to give Trump credit for anything.
In 2003 China banned American beef, because one case showed up in Washington State. The beef was contained, and that was the only case of Mad Cow discovered. Nevertheless, the Chinese government used that fear to rationalize their political move against the U.S.
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There was no epidemic. And one case certainly didn’t justify shutting down the entire American beef market in China.
Since then, American presidents have allowed a massive $310 billion trade deficit with China in goods and services in 2015. This is far and away the largest imbalance with any country and represents 60 percent of last years’ total deficit of $500.6 billion.
Had it not been for then candidate-Trump’s droning on about China, we likely would have more of the same and Hillary Clinton sitting her big buttocks in the White House.
But happy days are here again.
Because President Trump just struck a YUGE deal to open up the Chinese market to American beef imports.
The new China-U.S. trade deal will remove the 2003 ban as soon as possible, but no later than July 16th. That now allows American beef to be sold into China. In exchange, China will send cooked poultry to the U.S. after “outstanding issues” regarding concerns over safety and hygiene are resolved.
China has 1.37 billion potential beef-eaters as of 2015, with a burgeoning middle class. So you can imagine the grin on the faces of cattle farmers in America.
As Bloomberg noted:
“The country is the world’s second-biggest beef buyer after rapid economic growth over the past decade created an expanding middle class that can afford more protein in their diets.”
And they’re all hungry.
Peking University Professor Yu Miaojie said:
“The decision is good news for Chinese consumers. Homegrown cattle herds are not keeping pace with the rising demand in the increasingly prosperous country.”
America does not have trinkets to sell to China, but we have tons of beef.
The Chinese people are projected to eat roughly 17.6 billion pounds of the meat this year, according to the U.S. Department of Agriculture’s Foreign Agricultural Service. That’s an increase of more than 40 percent in the past five years.
This is a market American ranchers have been missing out on for more than a decade because of the inept foreign relations policies of our previous president. But again, because of the competence of the president, America will balance our trade, and spur more jobs and production.
And Chinese love American beef.
“Li Suling, 55, who works for an airline in Beijing, said allowing American beef imports was “a good thing” because [America cows] are more tender than Chinese-raised beef and less of a safety issue.”
This move impacts some very large companies who can now put more efforts into improving their companies.
Cargill Meat Solutions, JBS USA, and National Beef Packing Company will all undoubtedly benefit.
Jason Bagley, the senior manager of beef resources with the Texas Beef Council said:
“The market is huge. The potential is limitless. The middle class is growing and there are folks that are going to be buying our product. There’s a real demand for it there.”
Ross Wilson, president and CEO of the Texas Cattle Feeders Association, who represents feed yards in Texas, Oklahoma and New Mexico, praised Trump for putting American beef first.
“We’re very optimistic about this. Their middle class is larger than our entire population.”
Estimates put the Chinese middle class above 400 million people.
Symbolically, the deal reflects a positive transformation in U.S.-China relations.
Chinese officials showered praised on their Trump administration counterparts for their “intimate” cooperation.
A top Chinese trade negotiator and Vice Commerce minister Yu Jianhua revealed compliments rarely heard from Beijing:
“Although the U.S. team is new, they’ve settled in quickly and (their) adaptability is very strong. They have a great professional spirit that’s worth studying.”
This is a critically important distinction between Trump and his predecessors.
For China, doing business is all about the relationship.
And as the master of the Art of the Deal, our president knows how to build strong, profitable, and enduring business partnerships.
Trump is living up to his promise to put America first in fair and balanced trade.