Is President Donald Trump fulfilling another campaign promise? There are reports saying China has agreed and they are negotiating the details, oh, the art of the deal. Bloomberg is trying to spin it But here are the facts They report:
“If Trump can cut a deal with China for a $200 billion reduction in the bilateral trade deficit, then he’ll have won the trade deal of the century,” said Rajiv Biswas, chief Asia-Pacific economist at IHS Markit in Singapore. “The devil will be in the details, with key factors being the timeframe over which China is offering to achieve this reduction.”
They continue “A $200 billion reduction in the U.S. trade gap with China by 2020 was on a list of demands the Trump administration made earlier this month as Treasury Secretary Steven Mnuchin led a delegation to Beijing. That mission left with little common ground with China and reports emerging of infighting among the U.S. officials. The U.S. merchandise trade deficit with China hit a record $375 billion last year.
This tells us just how much our past politicians allowed China to rob We The People. Did they care more about the Chinese than their own citizens?