Tag: Trade War

The Day – Trade talks between U.S., China mask threat of economic divorce – News from southeastern Connecticut

Tina Marie (Ms. Cat)

If President Donald Trump’s trade deal with Beijing works as planned, Chinese purchases from American manufacturers and farmers will more than double over
— Read on www.theday.com/nationworld-news/20191228/trade-talks-between-us-china-mask-threat-of-economic-divorce

“Decoupling doesn’t mean what you think it means,” Lovely said. “It means higher costs for the U.S. and fewer jobs here. If Microsoft can’t sell in China, there’ll be fewer jobs here.”

Fed study finds Trump tariffs backfired – MarketWatch

Tina Marie (Ms. Cat)

A study by Federal Reserve economists found that President Trump’s initial round of trade tariffs in 2018 backfired on the U.S. manufacturing sector.
— Read on www.marketwatch.com/story/fed-study-finds-trump-tariffs-backfired-2019-12-27

The top ten manufacturing industries hit by foreign retaliatory tariffs were producers of: magnetic and optical media, leather goods, aluminum sheet, iron and steel, motor vehicles, household appliances, sawmills, audio and video equipment, pesticide, and computer equipment.

United States and China Reach Phase One Trade Agreement

Tina Marie (Ms. Cat)

12/13/2019

Washington, DC –  The United States and China have reached an historic and enforceable agreement on a Phase One trade deal that requires structural reforms and other changes to China’s economic and trade regime in the areas of intellectual property, technology transfer, agriculture, financial services, and currency and foreign exchange.  The Phase One agreement also includes a commitment by China that it will make substantial additional purchases of U.S. goods and services in the coming years.  Importantly, the agreement establishes a strong dispute resolution system that ensures prompt and effective implementation and enforcement.  The United States has agreed to modify its Section 301 tariff actions in a significant way.

“President Trump has focused on concluding a Phase One agreement that achieves meaningful, fully-enforceable structural changes and begins rebalancing the U.S.-China trade relationship.  This unprecedented agreement accomplishes those very significant goals and would not have been possible without the President’s strong leadership,” said United States Trade Representative Robert Lighthizer.

“Today’s announcement of a Phase One agreement with China is another significant step forward in advancing President Trump’s economic agenda.  Thanks to the President’s leadership, this landmark agreement marks critical progress toward a more balanced trade relationship and a more level playing field for American workers and companies,” said Secretary of the Treasury Steven Mnuchin.

The United States first imposed tariffs on imports from China based on the findings of the Section 301 investigation on China’s acts, policies, and practices related to technology transfer, intellectual property, and innovation.  The United States will be maintaining 25 percent tariffs on approximately $250 billion of Chinese imports, along with 7.5 percent tariffs on approximately $120 billion of Chinese imports.

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AGREEMENT BETWEEN THE UNITED STATES OF AMERICA AND THE PEOPLE’S REPUBLIC OF CHINA

DECEMBER 13, 2019

FACT SHEET (Retrieved 12.13.2019)

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