US reaches trade deal with China (phase 1)

Discussion in 'Economy' started by AzogtheDefiler, Dec 12, 2019.

  1. AzogtheDefiler
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    AzogtheDefiler The Pale Orc Gold Supporting Member Supporting Member

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    U.S. negotiators have reached the terms of a phase-one trade deal with China that now awaits President Donald Trump’s approval, according to people briefed on the plans, Bloomberg News reports.



    Trade advisers are set to meet with the president at 2:30 p.m. to discuss the agreement. An announcement could come as soon as this afternoon, the people said. A White House spokesperson declined to comment.

    Watch the stock market now. Boom!

    Bloomberg - Are you a robot?
     
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  2. Weatherman2020
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    Weatherman2020 Diamond Member

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  3. Oddball
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    Oddball Unobtanium Member Supporting Member

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    We'll see...We've had the rug pulled out from under such agreement-in-principle before.
     
  4. Butch_Coolidge
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    Butch_Coolidge Gold Member

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  5. Crepitus
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    Crepitus Gold Member

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    Don't hold your breath.
     
  6. EvilEyeFleegle
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    EvilEyeFleegle Platinum Member

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    Deal in Principle..ending the kerfuffle? I'd be wary..deal in principle..would require some principles..thin on the ground..these days:

    https://a.msn.com/r/2/AAK34oS?m=en-us&referrerID=InAppShare

    "The White House has reached a "deal in principle" with Beijing to resolve the 17-month U.S.-China trade war, according to a source briefed on the trade talks.
    The White House was expected to make an announcement later on Thursday, the source said.
    "The written agreement is still being formulated, but they have reached an agreement in principle," the source said. No details were immediately available.
    In an attempt to secure a "phase one" trade deal, U.S. negotiators offered to cut existing tariffs on Chinese goods by as much as 50% and suspend new tariffs that were scheduled to go into effect on Sunday, two people familiar with the negotiations said earlier on Thursday.
    The U.S.-China trade war has slowed global growth and dampened profits and investment for companies around the world.
    If President Donald Trump 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, trade experts believe.
    The Dec. 15 tariffs would apply to almost $160 billion of Chinese imports such as video game consoles, computer monitors.
    China and the United States agreed in October to conclude a preliminary trade agreement, but Beijing is balking at U.S. demands that it promise to buy a specific amount of agricultural goods. Beijing is also demanding rollbacks of all existing tariffs imposed by the United States."
     
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  7. Billy_Kinetta
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    Billy_Kinetta Paladin of the Lost Hour Gold Supporting Member Supporting Member

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    Not over. First dance after the fight.
     
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  8. shockedcanadian
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    shockedcanadian Platinum Member

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    Phase One. Trump can ride the China/U.S issue which is one Americans and even Canadians now (67% of Canadians polled said we should not be trusting China) believe is vital. Being tough on China is great for votes. Citizens are tired of losing.

    He can then win in 2020 and put the boots to China not caring anymore, setting up the next GOP leader for great success after China is neutered.
     
  9. pknopp
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    pknopp Gold Member

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    So the agreement seems to be that we lower our tariffs to keep China from enacting more tariffs?
     
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  10. Butch_Coolidge
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    Butch_Coolidge Gold Member

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