Trump promises farmers that China trade deal to be good for them

By Steve Holland

 

 

U.S. President Donald Trump gestures to the audience at the American Farm Bureau Federation's Annual Convention and Trade Show in Austin, Texas, January 19, 2020. REUTERS/Kevin Lamarque

 

AUSTIN, Texas (Reuters) - President Donald Trump sought on Sunday to assure American farmers and ranchers hit by a protracted tariff war with China that a trade agreement he signed with Beijing will lead to major purchases of U.S. agricultural products.

 

Trump's remarks in Texas, a state he won in 2016 and will need again in November's election, had all the hallmarks of a political stump speech, with a slam at Democrats trying to remove him through impeachment and a wish he could wear a cowboy hat in Washington.

 

He began his remarks to the annual American Farm Bureau Federation convention in Austin by waving a copy of a Farm Journal poll that said he had wide support among farmers and ranchers.

 

Trump said the initial trade deal he signed with China last Wednesday would be a boon for farmers, whom he thanked for sticking with him after he twice had to allocate multibillion-dollar bailouts for producers targeted by Chinese tariffs.

 

"You stayed in the fight," said Trump. "You were always with me. You never even thought of giving up and we got it done."

 

His Senate impeachment trial is set to begin in earnest on Tuesday.

 

"By these radical-left lunatics I get impeached. But that’s OK, the farmers are sticking with Trump," he said.

 

The Phase 1 trade deal with China was meant to reduce tensions after 18 months of a tit-for-tat tariff war between the world's two largest economies that has hit global growth.

 

It included a pledge by China to purchase at least an additional $12.5 billion worth of agricultural goods in 2020 and at least $19.5 billion over the 2017 level of $24 billion in 2021.

 

Analysts have said a number of issues remain unresolved. The Phase 1 agreement will leave in place 25% tariffs on $250 billion of Chinese industrial goods and components used by U.S. manufacturers, and China's retaliatory tariffs on over $100 billion in U.S. goods.

 

Trump told the farmers he would vigorously enforce the trade deal to make sure China holds up its side of the agreement.

 

"I think it’s going to work out and I think China is going all out to prove that the agreement that we signed is a good agreement," he said.

 

Trump also reminded the farmers that he had gained passage by Congress of a new trade deal among the United States, Mexico and Canada that will replace the 1994 North American Free Trade Agreement. He said he would sign the deal soon, probably in a White House ceremony.

 

(Reporting by Steve Holland; Editing by Peter Cooney)

 

-- © Copyright Reuters 2020-01-20

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The other side of the story:

 

https://www.wsj.com/articles/trump-campaign-talks-up-trade-deals-as-promises-kept-but-uncertainty-over-china-lingers-11579435200

Beijing response rather muted. 
 

“Beijing has since balked at committing to buy a specific amount of agricultural goods during a certain time frame, however. Chinese officials said they would like the discretion to buy based on market conditions”. 

I’m sure American farmers have twigged that the promises Trump makes them are made of the stuff they spread on fields.

How so trump you wrecked their markets and not only that we have to pay twice the amount that Obama used to bail out the auto industry during bad economic times to sir it’s just another ill conceived fiascos we aren’t marks you don’t fool us

Whatever happened to free market capitalism. 

18 minutes ago, Sujo said:

Whatever happened to free market capitalism. 

It got globalized ....

The Chinese are far too smart for Trump, They will screw him over and he won't even know it.American consumers (including farmers) are still paying 25% more on hundreds of items he stuck tariffs on that China would pay. (Just like Mexico will pay for the wall).

Edited January 21, 20206 yr by metisdead
Spelling correction.

Can the farmers put that next to the much better health- care they got from Trump?

Or is that more like the glorious border wall, that certainly is not a dangerous pipe- dream and is 100% paid for by Mexico?

Or can they finance a "welcome home"- dinner with all that money, when their sons come back from all the wars he ended?

6 hours ago, Chomper Higgot said:

I’m sure American farmers have twigged that the promises Trump makes them are made of the stuff they spread on fields.

The _trumps approval ratings amongst farmers is (apparently) at its highest, so perhaps not.... maybe they like the taste/smell of the stuff they spread on the fields

7 hours ago, webfact said:

"By these radical-left lunatics I get impeached. But that’s OK, the farmers are sticking with Trump," he said.

Always a bad sign when a person refers to themselves in the third person

6 minutes ago, jany123 said:

The _trumps approval ratings amongst farmers is (apparently) at its highest, so perhaps not.... maybe they like the taste/smell of the stuff they spread on the fields

There is still an image of American farmers being Ma and Pa Kettle. The real "farmers" consist of agribusiness and large scale outfits like these: https://www.wga.com/

Don’t trust China. Look at the militarized Spratly Islands.  Look at the bases under construction in Cambodia.  Here in Thailand, they have taken Mekong River flow, dumped USD into Thai markets which in turn brings USD and paired western currencies down. And the inverse relationship holds true today: Yuan up/USD down.

12 minutes ago, Isaan sailor said:

Don’t trust China. Look at the militarized Spratly Islands.  Look at the bases under construction in Cambodia.  Here in Thailand, they have taken Mekong River flow, dumped USD into Thai markets which in turn brings USD and paired western currencies down. And the inverse relationship holds true today: Yuan up/USD down.

Are there more Chinese bases out there.... or more American bases?

 

29 minutes ago, jany123 said:

Are there more Chinese bases out there.... or more American bases?

 

The 7 Fleet with a continuous forward presence in the Indo Asia Pacific region and with the largest numbered vessels need those bases. 

8 hours ago, Langsuan Man said:

The other side of the story:

 

https://www.wsj.com/articles/trump-campaign-talks-up-trade-deals-as-promises-kept-but-uncertainty-over-china-lingers-11579435200

 your link requires sign in at WSJ .... but the link to AP doesn't reqjuire anything besides reading it and ALL the false claims Trumps keeps making.... AP FACT CHECK: Trump's compulsive claims of 'biggest' ever

CALVIN WOODWARD and HOPE YEN --,Associated Press•January 18, 2020

 

https://news.yahoo.com/ap-fact-check-trumps-compulsive-131044833.html

 

TRADE

TRUMP on his trade agreement with China: “This is the biggest deal there is, anywhere in the world by far.’’ — remarks Wednesday at the signing.

TRUMP on the China deal and his updated North American trade agreement: “So we've done two of the biggest trade deals. They are the two biggest trade deals in the world ever done.” — remarks at the White House on Thursday.

THE FACTS: Neither claim is true.

The China agreement is not nearly as big as the U.S.-Mexico-Canada agreement, so it's not the largest ever, much less “by far.” The deal with Canada and Mexico was an update of the long-standing North American Free Trade Agreement worked out by Presidents George H.W. Bush and Bill Clinton.

The North American agreement also is not the largest ever.

 

Edited January 20, 20206 yr by Mavideol
forgot the link

for somebody to exaggerate as he does.... he must be from Texas 555   (for those who do not know, in the USA they say in the state of Texas everything is bigger)

2 hours ago, jany123 said:

Are there more Chinese bases out there.... or more American bases?

 

Last time I checked, China is a communist-controlled country.  I get it that you don’t like America.  But America doesn’t restrict Mekong flows, nor claim the South China Sea, using a weak 9-dash line excuse.

4 hours ago, Isaan sailor said:

Don’t trust China. Look at the militarized Spratly Islands.  Look at the bases under construction in Cambodia.  Here in Thailand, they have taken Mekong River flow, dumped USD into Thai markets which in turn brings USD and paired western currencies down. And the inverse relationship holds true today: Yuan up/USD down.

Yawn, how many more times. The RMB is pegged to the dollar. What you claim is impossible.

 

The rest is just your usual tripe since you got shown up about 'hot money.' Really you embarrass yourself.

 

If you are anti-China fair enough, just say it and have done. You're not unique in that respect. Lots of people are afraid of China. Guess where they are all from?

Trump  promises.... Coz  he  knows  about  farmers and  farming  and  now they are  going to  get a colossal deal because he thinks......(? ? ) that he thinks that he signed  a Great Deal and  Chins is already  falling over in  admiration of his  ability  to  sign .........(a deal). He  did  not  really read it  of course  but he did  watch Fox News tell him about what  he  signed. It was  all about  beans, right?

1 hour ago, Isaan sailor said:

Last time I checked, China is a communist-controlled country.  I get it that you don’t like America.  But America doesn’t restrict Mekong flows, nor claim the South China Sea, using a weak 9-dash line excuse.

Agreed by the Americans and NATO when Japan surrendered and drawn by what is now Taiwan. (ROC). The communists had not yet come to power on the mainland. The civil war would resume the same year.

 

Although admittedly it was then an 11 dash line.

Trump doesn't have to promise anything. As long as Communist China upholds their end of the deal (of which they have a sketchy history), it will be good for farmers.  If Communist China doesn't uphold their end, the tariffs will just return even higher.

 

Canada and Mexico do twice the trade with the US.  Communist China needs the US more than the US needs them, and it's been proven over the past 2+ years. 

10 hours ago, Traubert said:

Lots of people are afraid of China. Guess where they are all from?

Tibet? Xinjiang? Hong Kong? Taiwan? Am I close?

Edited January 21, 20206 yr by Salerno

An off topic post has been removed. 

14 hours ago, Isaan sailor said:

Last time I checked, China is a communist-controlled country.  I get it that you don’t like America.  But America doesn’t restrict Mekong flows, nor claim the South China Sea, using a weak 9-dash line excuse.

With all the (environmental) restrictions Trump capped, you are not far from restricting the flows (and contents) of many of the US- rivers!

13 hours ago, Traubert said:

Agreed by the Americans and NATO when Japan surrendered and drawn by what is now Taiwan. (ROC). The communists had not yet come to power on the mainland. The civil war would resume the same year.

 

Although admittedly it was then an 11 dash line.

care to share supporting data ?

On 1/20/2020 at 9:25 AM, Tug said:

How so trump you wrecked their markets and not only that we have to pay twice the amount that Obama used to bail out the auto industr

Tug, 
You are as Reagan described, not ignorant, you just know so much that is not true, Obama, did not 'BAIL OUT" GM, he confiscated it using the guise of saving it.  Virtually every major airline has "gone bankrupt" United, Northwest, Delta, Air Canada, and THEY ARE STILL FLYING.  Companies such as Sears, Texaco, Mattress Firm, David's Bridal etc. all declared bankruptcy but are still open.  Under normal bankruptcy is gives the company protection from being sued by its creditors all contracts including leases and union contracts are voided and the company gets to renegotiate. The only ones protected are the "secured" creditors who have lent money based on pledged assets. 

What Obama did was confiscate the company. He voided bankruptcy law and wiped out all  of the secured creditors and bond holders.  The unions gave wage concessions and he awarded them an ownership position in the company.  That is something that never would have happened in bankruptcy court.  THE UNIONS DID NOT OWN ANY OF GM PRIOR TO BANKRUPTCY so they would not have gotten any after bankruptcy.  The wage concessions were something the UAW would have had to do in normal bankruptcy anyway. So under the guise of rewarding them for their sacrifice Obama gave a multi billion dollar gift to his union voting base.  He screwed the bondholders who got nothing, even though they made loans to GM based on US bankruptcy law that would have given them preference. 

https://www.investors.com/politics/editorials/obama-auto-bailout-was-a-union-bailout/
 

3 hours ago, Mavideol said:

care to share supporting data ?

The US even gave 4 warships to China to make the claims in the South China Sea. Two warships went to the Paracels, and two went to the Spratlys. 4 islands were named after those 4 warships. Here's one of them:

 

USS Decker aka ROCS Tai Ping
 

Quote

ROCS Tai-ping was one of the four warships sent by the Republic of China Navy on 6 November 1946 to claim islands within the South China Sea region.

 

Last year US export of major products to China including soybeans, grains and cotton went down 87 percent, 95.5 percent and 43.6 percent year on year, respectively. To expect these massive percentage drops to recover by this phase 1 trade deal is like expecting Trump to apologies for all his lies. Supply chains have been disrupted and will take a massive amount of time and efforts to re-establish business relationship and confidence. Affected farmers will turn on Trump and expressed their feelings this election. 

51 minutes ago, Selatan said:

The US even gave 4 warships to China to make the claims in the South China Sea. Two warships went to the Paracels, and two went to the Spratlys. 4 islands were named after those 4 warships. Here's one of them:

 

USS Decker aka ROCS Tai Ping
 

 

Republic Of China (ROC) refers to Taiwan thus the ships were leased and later (1948) given to ROC since MAO PRC was created in October 1949 thus not given to PRC