Trade Minister Simon Birmingham says the government is “still waiting for details” after the US and China reached a phase one trade agreement, but he is “not too phased at present” over concerns the deal could come at the expense of Australian produce being purchased. Donald Trump announced on Friday that the two nations had reached a “substantial” phase one trade agreement covering intellectual property, financial services and large agricultural purchases.
He offered few specifics but it was reported that the US will suspend a tariff hike on $US250 billion in Chinese imports that was set for Tuesday. In exchange, China will buy between $US40 billion and $US50 billion in US farm products and be more open about how the value of its currency is set. “The only product lines that have been identified are soy beans and pork in terms of any public commentary to date,” Mr Birmingham said.
Lol...there isn't a trade agreement, it's Trump spin...Xi doesn't have to face voters, FMD Trump is dumb. 'Trade wars are good and easy to win'...
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Global markets show 'waning optimism' over US-China trade deal | Sky News AustraliaMarcus Today's Chris Conway says global markets have shown 'waning optimism' regarding the US - China trade deal due to creeping 'skepticism' the 'deal won't lead to the economic growth some had been hoping'. \n\nMr Conway said Chinese media 'had a lukewarm response to the deal' largely due to 'the size of agricultural purchases that had been touted'. \n\n'This deal has been about two years in the making and it doesn't address some of the key issues that the US was concerned about in terms of IP transfer and protections,' he said.\n\n'So it's not surprising that the market has come back a little bit and there's still a long way to go in terms of getting this deal done.'\n\nImage: AP\n\n Put simply: US, China trade talks agreed almost nothing, so the US split the talks into two parts and agreed China can buy more farm product from the USA. Real question is, the loss of USD as world's reserve currency, what and how is it replaced, and the impact on AU. auspol
Source: SkyNewsAust - 🏆 7. / 78 Read more »
The photo that reveals who got the better of the US-China trade trucePerspective: The Chinese are beaming; the Americans look glum. The photo that reveals who got the better of the US-China trade truce, writes Stephen Bartholomeusz If China called in the full USA trade defecit debt, the USA would be bankrupted three times over. Perhaps more. Never let the facts get in the way of opinion based photo interpretation. The deal is far more punitive towards China than the days before any deal at all. It is a 'win' for the United States but of course Anti-Trump bias prevents any reporting of facts by tabloid news outlets. ‘’the deal I just made with China is, by far, the greatest and biggest deal ever made for our Great Patriot Farmers in the history of our country.’’ He loves to gloat like he is d best negotiator
Source: smh - 🏆 6. / 80 Read more »
ASX rises on back of US-China trade progress | Sky News AustraliaShaw and Partners’ Adam Dawes says the ASX is off to a good start on Monday on the back of the US-China partial trade deal.\n\nOn Friday US President Trump announced an agreement with China surrounding agriculture, financial services and intellectual property. \n\n“Finally, after spending a better part of two years in a trade deadlock, the US and China struck a partial deal,' Mr Shaw told Sky News. \n\n'President Trump said this could be ratified in the coming months.' \n\nImage: AP\n
Source: SkyNewsAust - 🏆 7. / 78 Read more »
US freaks over LeBron’s China stanceMichael Jordan had his infamous “republicans buy sneakers too” moment — and now LeBron James has been accused of letting his wallet do the talking on the NBA’s China issue. “Daryl Morey’s educational achievements: Has a B.S. in Computer Science from Northwestern University and an M.B.A. from the MIT. LeBron James’ educational achievements: High school diploma.” Ryan Saavedra. Thinking with his wallet Let him stay in China so he can get educated about the situation and see what he has to say then.
Source: newscomauHQ - 🏆 9. / 77 Read more »
China wants more details before signing Trump's 'phase one' dealThe details of the verbal agreement reached in Washington last week between the two nations remain unclear. They know what the details are and have no choice but to sign the deal cause there economy will Free Fall 😉 wouldn't anyone want the detail in writing before going ahead with any deal with Trump for goodness sake. And even then I would be skeptical
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Labor ranks divided over Aus-China relationship | Sky News AustraliaDivisions are emerging within Labor ranks over how Australia should approach its relationship with China. \n\nVeteran Labor Senator Kim Carr has written a new article for a Labor-based publication, throwing his support behind Beijing and suggesting greater collaboration with Chinese researchers.\n\nSenator Carr also suggests the nation's security agencies are 'arbitrarily' targeting China when other authoritarian states, like Russia, also pose threats. \n\nSenator Kimberly Kitching has expressed 'deep concerns', defending Australia's right to pursue a 'values-based' relationship with China. \n\nThe issue has been simmering since the federal government was forced to play down comments from Home Affairs Minister Peter Dutton about China's ruling Communist Party. \n\nImage: News Corp Australia Only way Labor likes it if it comes in an ALDI Bag then there is no division Get the Infiltrators Out, Drain the swamp. Meanwhile, over at the Liberal National Party all members are in lockstep on how we approach China...
Source: SkyNewsAust - 🏆 7. / 78 Read more »