Trump has announced his new trade deal with China in a couple of tweets this morning. Here’s the lowdown from CNBC explaining how it all works.
Watch:
And here’s the tweets from Trump this morning:
We have agreed to a very large Phase One Deal with China. They have agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more. The 25% Tariffs will remain as is, with 7 1/2% put on much of the remainder….
— Donald J. Trump (@realDonaldTrump) December 13, 2019
…..The Penalty Tariffs set for December 15th will not be charged because of the fact that we made the deal. We will begin negotiations on the Phase Two Deal immediately, rather than waiting until after the 2020 Election. This is an amazing deal for all. Thank you!
— Donald J. Trump (@realDonaldTrump) December 13, 2019
It says something that China is dealing with Trump on this instead of waiting until after the 2020 election. I think it means that the tariffs are certainly causing the problems for China and it may also mean that Democrats are screwing themselves over so much with impeachment that the Chinese now believe Trump will get re-elected. I’d at least like think that’s got something to do with it.