China caves – partially, we have a long way to go – on a few key economic points and all we can say is what in the hell was Obama doing?
And Bush frankly?
They sat back as China stole our future and did nothing but probably line their pockets.
President Trump said no more, and we elected him in a landslide. He had to fight through his own guys for a year, (that’s how much the elite did not want Trump to get tough on China) but finally broke through.
President Trump got tough on China and the pundits said it would ruin us. Which is a joke on so many levels.
Instead…China blinks first. From APNEWS:
“President Xi Jinping promised Tuesday to cut China’s auto tariffs and improve intellectual property protection in possible concessions aimed at defusing a worsening dispute with Washington over trade and technology that investors worry could set back the global economic recovery.
Xi said Beijing will “significantly lower” tariffs on auto imports this year and ease restrictions on foreign ownership in the auto industry “as soon as possible.” (Continued Below)
Trump has threatened to raise tariffs on Chinese goods worth $50 billion in response to complaints Beijing pressures foreign companies to hand over technology in violation of its World Trade Organization market-opening commitments. Beijing fired back with its own $50 billion list of U.S. goods for possible retaliation.
The Chinese leader promised to encourage “normal technological exchange” and to “protect the lawful ownership rights of foreign enterprises.”
“President Xi’s speech could create a very good platform to launch U.S.-China dialogue at the WTO to find a deal on intellectual property rights,” said economist Rajiv Biswas of IHS Markit in a report. “This would be a victory for the world trading system and an important step away from the abyss of rising global protectionism.”