Chuck Schumer agrees with President Trump on China Trade, he better be careful he is making this a habit
Chuck Schumer agrees with President Trump on his China Trade policy. Schumer had better be careful he is making a habit of agreeing with the President. Last week he agreed with the President on moving the US embassy in Israel to Jerusalem.
The President tweeted today “I ask Senator Chuck Schumer, why didn’t President Obama & the Democrats do something about Trade with China, including Theft of Intellectual Property etc? They did Nothing! With that being said, Chuck & I have long agreed on this issue! Fair Trade, plus, with China will happen!
I ask Senator Chuck Schumer, why didn’t President Obama & the Democrats do something about Trade with China, including Theft of Intellectual Property etc.? They did NOTHING! With that being said, Chuck & I have long agreed on this issue! Fair Trade, plus, with China will happen!
— Donald J. Trump (@realDonaldTrump) May 21, 2018
Current discussions involve the three following issues.
*The US will put a hold on tarrifs for 150 million dollars in Chinese goods. Treasury Secretary Steven Mnuchin said the tariffs, which were imposed as punishment for alleged Chinese theft of US intellectual property, were “suspended” but could be reimposed.
*China promised to increase the purchase of US agricultural and energy products of which today’s announcement of farm and agricultural products is a part. Mnuchin told Fox News on Sunday that China will increase its purchases of US agricultural products by 35% to 40% over the next year but did not offer details. Commerce Secretary Wilbur Ross will work out those details during a future trip to China, Mnuchin said.
*China promised to “substantially reduce the United States trade deficit in goods with China.” The US currently runs a $375 billion annual goods trade deficit with China, the largest such imbalance with any country.
President Trump will no doubt be criticized and doubted for his efforts to negotiate with the Chinese. But make no mistake about it China trade barriers and tariffs will come down. Do not doubt Trump. Why will they come down? Because he asked. No recent President has had the balls to ask. It remains to be seen if Chuck Schumer agrees with Trump again.