US Makes Major Policy Move On China Ahead Of Trade Deal Signing; Here Are The Details

(Liberty Bell) – One of the reasons President Trump has been such a success in the Oval Office, particularly when it comes to economic matters, is because he is a stellar business man who has perfected the art of the deal, something that previous presidents have sorely lacked.

While there have been many instances where Trump has made killer deals since taking his seat in the White House, one of the most problematic countries to deal with has been China. Pretty difficult for capitalists and communists to get along, you know.

Well the United States is making a major move ahead of the trade deal signing with China, removing them from the list of countries considered currency manipulators.

Here’s more from CNBC:

The United States removed China from a list of countries considered currency manipulators just two days before top trade negotiators for Washington and Beijing sign a key “phase one” trade deal, the Treasury Department announced Monday.

The decision to strike China from the currency manipulator list comes more than five months after the Treasury Department formally made the designation. President Donald Trump and China Vice Premier Liu He are scheduled to sign a preliminary trade agreement in Washington on Wednesday. China is now on a “monitoring list” for currency practices along with nine other countries, including Germany, Italy and Japan.

“The Treasury Department has helped secure a significant Phase One agreement with China that will lead to greater economic growth and opportunity for American workers and businesses,” Treasury Secretary Steven Mnuchin said in a statement. “China has made enforceable commitments to refrain from competitive devaluation, while promoting transparency and accountability.”

CNBC reported earlier on Monday that the U.S. would make the move, citing a person familiar with the matter. The S&P 500 rose to a record high after reports from that the Treasury Department will no longer list China as a manipulator.

The world’s two largest economies for nearly two years have been levying tariffs back and forth while trying to work out the terms of a permanent trade resolution. Trump, in particular, has been critical of the U.S.-China trade deficit as well as Beijing’s previous moves to devalue its currency, which tends to boost its exports.

Treasury’s move in August to call China a manipulator raised tensions in the trade war and was the first such formal designation since President Bill Clinton’s administration. It came as the Chinese yuan weakened beyond 7 yuan to the dollar for the first time since 2008.

China’s central bank governor, Yi Gang, maintained at the time that Beijing doesn’t use its currency as a tool to cope with external disturbances such as trade disputes. The yuan has since returned to a pegged range considered normal — in line with China’s economic fundamentals and market demand and supply, and not weak enough to anger its trading partners.

And while largely symbolic, the Treasury Department’s summertime decision to label China as a manipulator could have left Beijing open to additional scrutiny through the IMF.

The president’s decision to remove China from the list drew criticism from the Senate’s top Democrat, New York’s Chuck Schumer.

“China is a currency manipulator — that is a fact,” Schumer said in a statement. “Unfortunately, President Trump would rather cave to President Xi than stay tough on China. When it comes to the president’s stance on China, Americans are getting a lot of show and very little results.”

President Trump, unlike Chuck Schumer, clearly sees how important this deal with China is, which is why he’s willing to wheel and deal with them a bit. If you want to be successful in the business world, you sometimes have to be flexible and willing to compromise on small points. That’s just good business.

Why would someone want to be your partner in an endeavor if the deal didn’t give them something they want? This is pretty much just common sense. Guess it’s safe to say Schumer isn’t strong in that department.

Source: cnbc.com/2020/01/13/us-will-no-longer-consider-china-a-currency-manipulator.html

26 COMMENTS

  1. There seem to be many previously democratic voters who have seen the light. I hope it’s enough to help us counter the illegals and dead people voting so that we can keep President Trump in the White House. He has done an awesome job!

    • It’s the Republicans that have stolen three elections with fewer votes and also voter lies and suppression, you know nothing Betsy, and I mean absolutely nothing. While Kerry was getting his ass shot Bush JR and Trump were no where to be seen in the military yet Kerry was swiftboated.

    • I ABSOLUTELY AGREE WITH YOU BETSY. SO MANY ARE ACTUALLY SEEING THAT THE DEMOCRATS ARE THEIR ENEMY AND NOT THEIR FRIEND. THE DEM’S ONLY TELL THEM THE VOTERS WHAT THEY THINK THEY WANT TO HEAR AND WHEN THEY GET THEIR VOTES, THE COMPLETELY LOSE INTEREST IN THEIR VOTERS.
      THE ONLY THING THE DEMS ARE ONLY INTERESTED IN IS THE POWER TO DICTATE ALL OF US. AND YES I DO BELIEVE PRESIDENT TRUMP IS THE GREATEST PRESIDENT AMERICA HAS EVER HAD AND HE HAS DONE MORE GOOD FOR AMERICA IN THREE YEARS THAN ALL OF THE OTHER PRESIDENTS HAVE DONE IN THEIR FULL 2 TERMS (EIGHT YEARS). FACT IS FACT!!!!! GOD BLESS AMERICA. PRESIDENT TRUMP AND OUR PEOPLE. HELP US FATHER GOD TO BE ABLE TO KEEP PRESIDENT TRUMP IN THE WHITE HOUSE FOR FOUR MORE YEARS. IN JESUS HOLY NAME I PRAY. AMEN

  2. The demonrats know exactly how the deal with the Russians and Chinese! By letting them take advantage of America, while the dumorats take the bribe money and run!

  3. Schumer and the democrats have never ever given a darn about China’s manipulations, theft of intellectual properties or anything. But now it’s Trump making a better deal, not perfect but better, so he’s soft on China whereas dem’s have done nothing.

  4. Chuckie certainly didn’t disappoint. As a politician he is worthless, as a business person, he is even worse. The President’s concept of working one on one with each country versus some kind of massive collaboration is far better. Each economy has positives and negatives that can be evened out between players, benefiting each country. As a Vietnam Vet, it is hard to believe, that now 50 years down the road, Ford is spending an additional $80 million to upgrade a plant in North Vietnam and in my grandson’s bed room is furniture made in Vietnam. Similar to Japan after WWII. Now we have China mixing Capitalism with Communism because they see the light. War is not a viable solution. Politicians can’t cope with business initiatives. We need a business person, not a lawyer or doctor leading the way. Pelosi and mob from the House are to march the fraudulent impeachment documents over to the Senate on a day when the S&P hits a record and the stock market is at an all time high. More minorities working than ever before, thousands of jobs available, shuttered industries opening their doors again. What a bunch of hypocrites the Demos are. I pray that those who don’t believe in our country, our Constitution, our faith, get their ass voted out of the House and Senate.

  5. Now is the time for the United States to start cooperating with China’s Belt and Road initiative. The reason China has an annual growth rate of 6% in GDP, year after year, is due to its commitment to pulling underdeveloped nations out of poverty through participation in the Belt and Road Initiative. China has lifted 800 million Chinese out of poverty through China policy surrounding the New Silk Road Eurasian development program. Today, China is leading every other nation in building infrastructure in Africa. The United States cannot continue to sit on the sidelines. China is building Africa’s modern water management systems, modern power plants, nuclear and coal, high speed rail systems, as well as commercial and government building construction. Because of China’s forward thinking policies of investing in infrastructure and manufacturing, China has raised the per capita standard of living in China. It has created more entrepreneurs in China over the past ten years, than all other nations combined!! The US has an golden opportunity to be involved with China, with Russia and with India, by grasping the new paradigm peace through development with win win cooperation and negotiation. Without a doubt, President Trump is the man for the job.

  6. Schumer AND PELOSI ARE FREAKIN JOKES….

    Might want a heads up…. when you are subpoenaed and are asked questions in front of the American people, make sure your wrists are lotioned as you are hauled off in cuffs….

    They will ask you questions “on the rest of the story” and about your ties to foreign governments ( Income from) and the Russia hoax and now the impeachment hoax… enjoy your last days in Congress because the avg American sees right through your b.lls…t!

    Your day of reckoning is coming. It will paly out in front of the camera’s you enjoying playing to…. For all the world to see….

    • Unfortunately many across the country will see, but the California voters (of which I am one, but not like them) will not take the blinders off. Many people are just crazy here. It used to be semicivilized, but not anymore.

  7. Shmuck Chumer needs to shut his pie hole. He is a total waste of air, and if I believed anything concerning carbon stamps, this cry baby blow hard should pay 1000 bucks every time he opens his mouth. Nothing but methane gas comes out anyway.

  8. I Will Agree that Trump is THE BEST PRESIDENT of my lifetime also~ Go Get ‘Em Mr. President~ We are All With You ~ May God Bless America~

  9. 42 MILLION HEART BEATING BABIES HAVE BEEN KILLED THIS YEAR WORLD WIDE. 70 MILLION PLUS BLACK BABIES AND MILLIONS OF OTHER RACES. MY FORMER DEMOCRAT PARTY AND SOME REPUBLICANS BELIEVE IT IS OK. MURDER IS MURDER AND ALL INVOLVED SHOULD BE ARRESTED AND PROSCUTED FOR SUCH. IF THE HEART IS BEATING IT IS A LIVE PERSON.

    • I fully agree with you. It is all lies and manipulation. If a woman goes see a doctor, and the doctor sees a distressed woman, he says “the test was positive, you are pregnant, but we can help you.” If she seems happy about it “congratulations, you are having a baby.”
      It is also about “keeping those people (minorities) under control.” As per the founder of planned parenthood (no caps intentionally).

  10. Schumer should remain seated and quiet while business is being conducted since he has no knowledge of how it is conducted especialley with China

  11. “There was a man, they called him mad.
    The more he gave, the more he had!”
    Og Mandino
    “The pigs get fat and the hogs get slaughtered!”
    L P

  12. I am 89 years old, a former Democrat, a VET of the Korean war 51/53, and changed parties this year, in my area over 13 hundred people has switched to the Republican Party, or I should say the American Party headed up by Donald Trump. In my life time I have never seen a more qualified person to run the USA Government that Donald Trump, he is head above all the rest. We must get rid of all in Washington that oppose him and help him by getting people in there that will work with him. Ask a few questions, do they believe in killing heart beating babies, do they want open border for the free flowing of dope and illegals for their votes. If they say yes, vote them out of office. GET OUT AND WORK FOR TRUMP, IT WILL TAKE 4 MORE YEARS TO GET RID OF THE CROOKS.

    • It may take longer than that, but he does give us hope! We need to find a follow-up after his second term to continue the drainage. 😁

  13. Who has been caving to the Chinese and every other communist country for decades? That would be the democRATS. They believe that allowing China to push the evil U.S. is the best way to “get cozy” with China. While all the while China has been spreading the profits it makes from the U.S. all over the globe making China look like “the good guys”.

  14. The Democrats should know that you have to put and take to get to a deal with them. Are the Democratic party that stupid? The left would like to give away the country! GOD bless the USA!!!

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