That sound you may have heard Wednesday morning was that of a heavy truck spinning its wheels, as President Trump signed an agreement with China that imposes a cease-fire in a trade war that has achieved virtually nothing for Americans, except the imposition of enormous economic costs on U.S. consumers, farmers and manufacturers.
Notwithstanding Trump’s mantra that the tariffs are paid by the Chinese, trade experts are virtually unanimous in concluding that they’ve been paid entirely by Americans. As a result, according to in the troubled US-China economic relationship,” Chad P. Bown of the Peterson Institute for International Economics observed last month after the essentials of the deal were first announced.Even after the agreement, the average U.S. tariff on China imports will still be 19.3%, a modest reduction from the pre-agreement level of 21% and more than six times its level of 3% before Trump launched the tariff war.
The agreement incorporates a bilateral enforcement mechanism, but Trump has displayed profound hostility to other international trade enforcement bodies, notably the World Trade Organization, which could have been brought in to oversee China’s compliance.
lmao😂
Patience.
Fake news!
LA TIMES, try to report the truth. We know it hurts your agenda.
Hers is the real news. This is HISTORIC! ChinaTradeDeal
Love Iran
lugenspresse
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Trump signs first stage of trade deal with ChinaPresident Donald Trump on Wednesday signed an initial trade deal with senior Chinese leaders that includes pledges from Beijing to more than double its purchases from American farmers in the first year. Math whelp at least Trump has a back bone with China compared to which one i'll wait 🧐 Which is still not the level they were at when Trump started this trade war. You don’t get credit for gluing mom’s vase back together after you broke it playing ball in the house
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