It was roughly a year ago, a very successful family relative, who voted for Hillary & was a Trump skeptic, asked me if China would make a deal with President Donald Trump.
I said “Yes,” without hesitation.
After nearly two years of a “trade war” with China, today President Trump signed a phase one deal with China. We heard the left complain that the deal would never happen. We heard that Trump being tough with China, would cause an economic crash. This NEVER happened. The left was WRONG….. again.
We import a TON from China and they take less from us….. way less, Trump clearly recognized this wasn’t fair. Presidents before Trump, just assumed we would make a deal and lose billions, President Trump, saw this as complete insanity, as would any thinking American.
From the office of U.S. Trade:
“U.S.-China Trade Facts
U.S. goods and services trade with China totaled an estimated $737.1 billion in 2018. Exports were $179.3 billion; imports were $557.9 billion. The U.S. goods and services trade deficit with China was $378.6 billion in 2018.
In this phase one deal, China has agreed to import more of our goods.
Fox Business news reports: Beijing will purchase up to $50 billion of crops, according to President Trump and Treasury Secretary Steven Mnuchin, $40 billion of which has been confirmed by Chinese sources. China has also agreed to buy $40 billion in services, $50 billion in energy and $75 billion to $80 billion worth of manufacturing, according to Chinese sources.
“This is a great win for American business and American farmers,” Mnuchin said.
Aside from the more than $200 billion of Chinese purchases, Beijing has agreed to stop the theft of intellectual property and refrain from manipulation of its currency. The U.S., in return, will reduce tariffs on some products made in China while keeping duties on $375 billion worth of Chinese goods.
This is what happens when a Businessman sits in the Oval Office as opposed to a Career Politician or a Community Organizer. America makes GOOD DEALS, that Help and Profit the American people. 🙌