Halleluiah! Trump Says Trade Talks "Back on Track"

Mish

Trade with China talks are "back on track". But what track is that?

Trade talks are now "Back on Track", with New Tariffs on Hold,

Q. What happened?

A. Trump caved in.

What "Track" is Back?

  1. Trump offered China no new tariffs.
  2. Trump agreed to easing restrictions on tech company Huawei.
  3. The above two points were part of China's Preconditions, which Lawrence Kudlow said did not exist.
  4. China agreed to make unspecified new purchases of U.S. farm products and return to the negotiating table.
  5. No deadline was set for progress on a deal.
  6. No details on China's farm purchases.

Right Back On Track

We’re right back on track,” Trump told reporters after an 80-minute meeting with Chinese President Xi Jinping at a summit of leaders of the Group of 20 (G20) major economies in Osaka, Japan.

We’re holding back on tariffs and they’re going to buy farm products,” Trump said, without giving details about the purchases.

Trump said the U.S. Commerce Department would study in the next few days whether to take Huawei off the list of firms banned from buying components and technology from U.S. companies without government approval.

Questions of the Day

  1. If that's not back on track, what is?
  2. But what track are we on?

Once again Trump made a bluff that everyone in the world could see (except his supporters), then backed down when the other side held firm.

Perfect Happiness

Kudlow said yesterday that "Trump is perfectly happy where we are."

Why deal when you are perfectly happy, not dealing?

What can be better than perfect?

Fake News

Speaking of the Wall Street Journal report on China's preconditions, , Kudlow said "I don't know where those stories comer from, but it is fake news".

Cave-In on Preconditions

Let's not call this a cave in on preconditions because clearly there were none.

Let's instead call this a banana split.

Mike "Mish" Shedlock

Comments (15)
No. 1-8
stillCJ
stillCJ

Editor

Mish, I am amazed that you are so clueless about Trump's negotiating techniques. If he ends up with just getting China to stop stealing American technology, and an enforcement mechanism for that, I would say the trade negotiations were a resounding success for The Donald, because that is the most important thing.

AshH
AshH

He'll probably get whatever conditions existed before the tariffs, and yet it'll be the greatest trade deal ever (according to him)!

Realist
Realist

It is the same story over and over for Trump. Pick an enemy and a make up a grievance. Get his supporters riled up and angry at this enemy. Threaten tariffs, obliteration, or whatever. When the “enemy” refuses to budge, back off and declare a great victory. His supporters lap it up, since they are morons. It’s probably happened 20 or 30 times so far and they fall for it every time. It’s sad to think that there are people that stupid. Of course, there is a large group of Americans who still believe the earth is flat.

numike
numike

There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know John Kenneth Galbraith

HubbaBuba2
HubbaBuba2

Where's the beef? https://www.youtube.com/watch?v=ZWTikQ4U-bI

HubbaBuba2
HubbaBuba2

Where's the beef? https://www.youtube.com/watch?v=VnCajZth-24 (Padon last post pulled next Youtube video link.)

lol
lol

Export what?America's 3 biggest exports,dept,inflation,war,China's happily eating the first 2 because they have no choice ,who else gonna buy that cheap junk?No one wants that shoddy crap except Americans,Trump hates the Chinese and will feed them our dept and all our inflation and they'll eat that chit sandwich with a smile...……….pass the soy sauce!

shamrock
shamrock

When you live by the trade war rumors you die by them too. Gold is down about $17 this weekend.


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