President Trump recently delayed the next round of tariffs as the trade meeting with Beijing approaches. In a show of good faith, Beijing exempted U.S. pork and soybeans from the trade war tariffs, Zerohedge reports.
Beijing announced on Friday that it would indeed encourage state-owned companies to begin “goodwill” purchases of US soybeans, pork and other farm goods (desperately needed by China) by imposing waivers from trade-war tariffs, according to the South China Morning Post.
China will allow Chinese businesses to purchase a “certain amount of farm products such as soybeans and pork” from the US, according to Xinhua. “China’s market is big enough and there’s great potential to import high-quality US farm products.” Chinese officials added that “the US will honour its word and fulfil its promises to create favourable conditions for cooperation for the two countries in the agriculture sector.”
The truth is China has to do this, Gordon Chang says. They are concerned that soaring food prices will lead to protests.
Chang adds, “Let the Chinese make even more #trade concessions. These arrogant communists need to know that we know they have no bargaining power.”
This should be an opportunity for Democrats to attack the President but it hasn’t worked that way. Their message is largely incoherent.
“It’s a little tricky,” said Jared Bernstein, who served as the top economic adviser to Joe Biden, the Democratic front-runner, when Biden was Barack Obama’s vice president.
“The challenge is to distance yourself from what has been a pretty disastrous set of policies from the Trump administration while signaling you are not going to be soft on China.”
Chuck Schumer, on the other hand, a rabid Trump hater, agrees with the President on China.
Something has to be done, and Trump is the first President to actually try to do something.