U.S. Treasury Secretary says U.S.-China trade deal is 90% done: CNBC

[snoop1130]

U.S. Treasury Secretary says U.S.-China trade deal is 90% done: CNBC

 

FILE PHOTO: Treasury Secretary Steven Mnuchin answers question from reporters about the United States new sanctions on Iran at the White House in Washington D.C., U.S., June 24, 2019. REUTERS/Carlos Barria

 

(Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the trade deal between the United States and China is “about 90%” complete, CNBC reported.

 

“We were about 90% of the way there (with a deal) and I think there’s a path to complete this,” Mnuchin said in an interview to the news channel.

 

U.S. President Donald Trump and his Chinese counterpart Xi Jinping will meet this week at the G20 summit in Japan hoping to calm their 11-month trade war.

 

Separately, in comments on recent U.S. sanctions on Iran, Mnuchin said he believes the sanctions “are working”.

 

-- © Copyright Reuters 2019-06-26

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[bristolboy]

I read the original reporting here 

https://www.cnbc.com/2019/06/26/mnuchin-says-us-china-trade-deal-is-90-percent-complete.html

And what it seems to say is that things are pretty much where they were before talks broke off. 

Edited June 26, 2019 by bristolboy

[legend49]

same BS hoping people will believe them

[Srikcir]

The remaining 10% is reserved for Trump to completely reverse the deal at the last minute.

It depends on how senior advisors at FOX News & Friends will react.

[Johnnyngai]

Trump mean to say that he is winning 90% of whatever.  

People born with silver spoons in their mouths fighting with people born with saw dust in their mouths.  

[spidermike007]

Believe anything Mnuchin says at your own peril. This incompetent is dreaming. He still thinks his boss is a good Negotiator! Delusion, hubris, arrogance and incompetency define Trump and this administration.

[mfd101]

Most negotiations get to the '90% done' stage pretty easily, because that's how the negotiations are structured by anyone with a brain: Do the easy stuff first, make a few minor concessions so everyone's feeling good, and only then do you start into the 10% of 'difficult' or 'impossible'.

 

Examples: Kim & Donald love-ins; Brexit ...

[bristolboy]

Apparently, Xi made delaying the imposition of any further tariffs a condition for having the meeting.

https://www.politico.com/story/2019/06/26/trump-tariffs-china-talks-1383720

[just bob]

China will play the long game and reject any trade deal to derail Trumps economy and re-election chances.  Predict market crash after G20.  Stay tuned.

 

[howbri]

4 hours ago, spidermike007 said:

Believe anything Mnuchin says at your own peril. This incompetent is dreaming. He still thinks his boss is a good Negotiator! Delusion, hubris, arrogance and incompetency define Trump and this administration.

MAGA

[ThaiBunny]

Just now, howbri said:

MAGA

Make America Grate Again?

[jany123]

19 minutes ago, ThaiBunny said:

Make America Grate Again?

Funny bunny

MAGA..... make Asia great again.

[Pedrogaz]

Munchkin is a bit of a moron. In any negotiations 90% of stuff gets hammered out really quickly....but that is the non contentious stuff, the easy stuff. The last 10% takes the bulk the time and effort because that is where the really uncomfortable compromises need to be made. This is also the time when sides walk away from he deal....no one walks away in the beginning, they walk away when what they have to give up isn't worth what they have to give away.

[spidermike007]

32 minutes ago, Pedrogaz said:

Munchkin is a bit of a moron. In any negotiations 90% of stuff gets hammered out really quickly....but that is the non contentious stuff, the easy stuff. The last 10% takes the bulk the time and effort because that is where the really uncomfortable compromises need to be made. This is also the time when sides walk away from he deal....no one walks away in the beginning, they walk away when what they have to give up isn't worth what they have to give away.

He made most of his fortune kicking average families out of their homes. Even when they were barely behind on their mortgages. Not alot of brains required for that kind of unethical, scandalous, gangland behavior. 

 

As treasury secretary he is so far out of his depth. Typical of Trump. He is a real bottom of the barrel kind of guy. Mnuchin was no exception. A real bottom feeder. 

[Skeptic7]

Based on CNBC yesterday...this is the 3rd time he has spewed this 90% figure with zero to show for it. 

 

[bristolboy]

Oops!

 China to Insist U.S. Lifts Huawei Ban as Part of Trade Truce

OSAKA, Japan—Chinese President Xi Jinping plans to present President Trump with a set of terms the U.S. should meet before Beijing is ready to settle a market-rattling trade confrontation, raising questions of whether the two leaders will agree to relaunch talks.

Among the preconditions, said Chinese officials with knowledge of the plan, Beijing is insisting that the U.S. remove its ban on the sale of U.S. technology to Chinese telecommunications giant Huawei Technologies Co. Beijing also wants the U.S. to lift all punitive tariffs and drop efforts to get China to buy even more U.S. exports than Beijing said it would when the two leaders last met in December.

https://www.wsj.com/articles/china-s-xi-to-present-trump-with-terms-for-settling-trade-fight-chinese-officials-say-11561628961