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China backs down from trade war, vows to open up import market

By Goran_K following x   2018 Apr 10, 10:15am 2,637 views   45 comments   watch   sfw   quote     share    





President Xi Jinping renewed a pledge Tuesday to open China’s markets further for trade and investment, including its automobile sector, and said he would also work harder to boost imports, in what was seen as a conciliatory speech amid an escalating trade conflict with the United States.


https://www.washingtonpost.com/world/chinas-president-pledges-to-reduce-investment-restrictions-tariffs-on-auto-industry/2018/04/09/e3012ffa-3c39-11e8-955b-7d2e19b79966_story.html?noredirect=on&utm_term=.77080c768961

So not only is Trump reducing the trade deficit, but he's also strengthening the export economy at home.

Why couldn't Obama do this? Oh right, because Xi Jinping had absolutely no respect for Obama.

Comments 1 - 40 of 45    Next »    Last »

1   mell   ignore (2)   2018 Apr 10, 10:16am   ↑ like (3)   ↓ dislike (0)   quote        

Goran_K says
Why couldn't Obama do this? Oh right, because Xi Jinping had absolutely no respect for Obama.


Bingo!
2   Goran_K   ignore (1)   2018 Apr 10, 10:49am   ↑ like (3)   ↓ dislike (0)   quote        

mell says
Bingo!


I honestly can't think of ONE positive thing Obama or the Dims have done for the U.S in terms of trade in the world economy.
3   zzyzzx   ignore (1)   2018 Apr 10, 10:58am   ↑ like (5)   ↓ dislike (0)   quote        

It's all Trump's fault!!!!
4   mell   ignore (2)   2018 Apr 10, 11:03am   ↑ like (2)   ↓ dislike (0)   quote        

Goran_K says
mell says
Bingo!


I honestly can't think of ONE positive thing Obama or the Dims have done for the U.S in terms of trade in the world economy.


It's the same with the EUrocrats and their cucked nations. The nations are not supposed to negotiate with their best benefits in mind, but sell-out like a lefty to the global oligarchy. Trump was a game-changer, so were Orban, Duda and Kurz. Even Denmark now has the strictest immigration policies in place and will send away any rapefugees. Times are changing.
5   Goran_K   ignore (1)   2018 Apr 10, 11:07am   ↑ like (1)   ↓ dislike (0)   quote        

mell says
It's the same with the EUrocrats and their cucked nations. The nations are not supposed to negotiate with their best benefits in mind, but sell-out like a lefty to the global oligarchy. Trump was a game-changer, so were Orban, Duda and Kurz. Even Denmark now has the strictest immigration policies in place and will send away any rapefugees. Times are changing.


I can't wait to see all the Chinese buying all the Chevy's we can ship them.
6   DASKAA   ignore (3)   2018 Apr 10, 11:07am   ↑ like (2)   ↓ dislike (0)   quote        

Goran_K says
Why couldn't Obama do this? Oh right, because Xi Jinping had absolutely no respect for Obama.


Because Obama never even tried.
7   Goran_K   ignore (1)   2018 Apr 10, 11:23am   ↑ like (2)   ↓ dislike (0)   quote        

Satoshi_Nakamoto says
Because Obama never even tried.


There's that too.
8   zzyzzx   ignore (1)   2018 Apr 10, 11:25am   ↑ like (0)   ↓ dislike (0)   quote        

Goran_K says
I can't wait to see all the Chinese buying all the Chevy's we can ship them.


I suspect that it's mostly Tesla's and BMW's that we will be sending to China.
9   DASKAA   ignore (3)   2018 Apr 10, 12:09pm   ↑ like (1)   ↓ dislike (1)   quote        

zzyzzx says
Goran_K says
I can't wait to see all the Chinese buying all the Chevy's we can ship them.


I suspect that it's mostly Tesla's and BMW's that we will be sending to China.


In China Buick > BMW > Tesla.

Weird but true.
10   RC2006   ignore (0)   2018 Apr 10, 12:21pm   ↑ like (3)   ↓ dislike (0)   quote        

Everything from China should tariffed the shit out of until we at least come close to some sort of trade parity or at least close to everyone else. China backing down just shows how much they are fucking us and how far ahead they are. Anything that comes out of their mouths is probably bullshit 357B fuck that.

China - $636 billion traded with a $375 billion deficit.
Canada - $582 billion traded with an $18 billion deficit.
Mexico - $557 billion traded with a $71 billion deficit.
Japan - $204 billion traded with a $69 billion deficit.
Germany - $171 billion traded with a $65 billion deficit.
11   TwoScoopsOfSpaceForce   ignore (2)   2018 Apr 10, 12:36pm   ↑ like (2)   ↓ dislike (0)   quote        

EU/Germany needs to drop their Chicken Ban or 100% tariff on all anything and everything made by Siemens. And Wine, just to smack Italy and France, too.

And their "Chicken is unsafe" thing is an excuse. West Germany was slapping big tariffs on our poultry long before we changed the method of raising them.
12   zzyzzx   ignore (1)   2018 Apr 10, 12:44pm   ↑ like (3)   ↓ dislike (0)   quote        

I'd like to see us tariff Japanese cars the same way they tariff ours.
13   TwoScoopsOfSpaceForce   ignore (2)   2018 Apr 10, 12:55pm   ↑ like (0)   ↓ dislike (0)   quote        

zzyzzx says
I'd like to see us tariff Japanese cars the same way they tariff ours.


But Zzyzzx, it would be irresponsible to put up tariffs equal to another country on ours. Not fair to respond in kind after decades of one-sidedness! We just need to grin and bear the fact that Japanese goods are often cheaper in the US than they are 10 miles from where they are produced.
14   JZ   ignore (0)   2018 Apr 10, 2:55pm   ↑ like (1)   ↓ dislike (1)   quote        


If you guys missed this Chinese vice premier’s talk in Davo’s earlier this year, this link will provide that info.
What Xi said yesterday is the same thing. There is NO news. Trump jumps out and quoted what Xi said and make it sound like it has anything to do with trade wars. He does the same every time market goes up as well.
I am just sick of these guys playing the public like fiddles.
15   TwoScoopsOfSpaceForce   ignore (2)   2018 Apr 10, 3:16pm   ↑ like (4)   ↓ dislike (0)   quote        

I'm glad to have a President that talks about reciprocating tariffs, in other words, responding to Economic Warfare, on a daily or near daily basis.

Trump's willingness to implement counter-attacks against one-sided trade is refreshing action instead of dishonest paternalistic head-pats. Remember, it was "We're going to get a bazillion high tech jobs of the future and export 6x more tires to Mexico" before it became "Fuck you, deal with it" when those jobs failed to materialize.

Rather than blithely dismissing the whole thing because his CoC, Tech, and Bank contributors are happy with the status quo.
16   Quigley   ignore (0)   2018 Apr 10, 3:24pm   ↑ like (0)   ↓ dislike (0)   quote        

zzyzzx says
I'd like to see us tariff Japanese cars the same way they tariff ours.


They’re mostly built here for domestic consumption! Tough to do tariffs on domestically produced vehicles.
17   Booger   ignore (1)   2018 Apr 10, 3:39pm   ↑ like (1)   ↓ dislike (0)   quote        

Quigley says
They’re mostly built here for domestic consumption! Tough to do tariffs on domestically produced vehicles.



They just started making a small amount of Lexus in the US. All Scions are imported. All, or almost all Mazda's are imported. Subaru is almost as bad.
18   DASKAA   ignore (3)   2018 Apr 10, 3:53pm   ↑ like (0)   ↓ dislike (0)   quote        

Booger says
Quigley says
They’re mostly built here for domestic consumption! Tough to do tariffs on domestically produced vehicles.



They just started making a small amount of Lexus in the US. All Scions are imported. All, or almost all Mazda's are imported. Subaru is almost as bad.


Scion brand has been dead for almost 2 years now. Subaru has a big plant in Indiana where it manufactures Legacy, Outback and Impreza.
19   Booger   ignore (1)   2018 Apr 10, 4:18pm   ↑ like (1)   ↓ dislike (0)   quote        

China backs down from trade war, vows to open up import market

ERECTION INTENSIFYING!!!
20   Goran_K   ignore (1)   2018 Apr 10, 4:28pm   ↑ like (0)   ↓ dislike (0)   quote        

I'm still waiting for the people who thought that Trump would start a "trade war" that would drag the international economy into a recession.

Funny how those guys disappeared.
21   Goran_K   ignore (1)   2018 Apr 11, 8:17am   ↑ like (0)   ↓ dislike (0)   quote        

zzyzzx says
I suspect that it's mostly Tesla's and BMW's that we will be sending to China.


I would have thought so too, but GM is China's best selling car maker.

https://qz.com/1249984/as-donald-trump-mulls-a-trade-war-general-motors-is-still-chinas-leading-car-maker/
22   bob2356   ignore (1)   2018 Apr 11, 8:55am   ↑ like (0)   ↓ dislike (0)   quote        

JZ says
If you guys missed this Chinese vice premier’s talk in Davo’s earlier this year, this link will provide that info.
What Xi said yesterday is the same thing. There is NO news. Trump jumps out and quoted what Xi said and make it sound like it has anything to do with trade wars. He does the same every time market goes up as well.
I am just sick of these guys playing the public like fiddles.


Some people mke the amazing new discovery the the sun rises in the east every single day.
23   Goran_K   ignore (1)   2018 Apr 11, 9:16am   ↑ like (0)   ↓ dislike (0)   quote        

JZ says

If you guys missed this Chinese vice premier’s talk in Davo’s earlier this year, this link will provide that info.
What Xi said yesterday is the same thing. There is NO news. Trump jumps out and quoted what Xi said and make it sound like it has anything to do with trade wars. He does the same every time market goes up as well.
I am just sick of these guys playing the public like fiddles.


That video is from January before the tariffs.

It has nothing to do with today's situation.

Xi also said China would raise the foreign ownership limit in the automobile sector as soon as possible and push previously announced measures to open the financial sector.

"This year, we will considerably reduce auto import tariffs, and at the same time reduce import tariffs on some other products," Xi said at the Chinese Boao Forum for Asia in Hainan province."

Those are Xi's words. He's the one waving the olive branch, and he basically addressed every issue Trump has brought up.
24   bob2356   ignore (1)   2018 Apr 11, 9:17am   ↑ like (0)   ↓ dislike (0)   quote        

Goran_K says
zzyzzx says
I suspect that it's mostly Tesla's and BMW's that we will be sending to China.


I would have thought so too, but GM is China's best selling car maker.


Best selling car maker as in making cars in china. US car makers are doing very well in china. They just aren't imporiting cars into china and won't be even if tarrifs go away completely. But it makes nice sound bites for the base.
25   bob2356   ignore (1)   2018 Apr 11, 9:20am   ↑ like (0)   ↓ dislike (0)   quote        

Goran_K says
That video is from January before the tariffs.

It has nothing to do with today's situation.


That was the point. He isn't saying anything new in response to tariffs or threat of additional tariffs no matter how much people want to believe trump has somehow backed him into a corner.
26   Goran_K   ignore (1)   2018 Apr 11, 9:21am   ↑ like (0)   ↓ dislike (0)   quote        

bob2356 says
Best selling car maker as in making cars in china. US car makers are doing very well in china. They just aren't imporiting cars into china and won't be even if tarrifs go away completely. But it makes nice sound bites for the base.



You're completely wrong. They will import more cars into South Korea too. Trump is opening up asian markets by leveraging their dependence on American import buying. No one is Asia wants to lose access to that market.
27   Goran_K   ignore (1)   2018 Apr 11, 9:23am   ↑ like (0)   ↓ dislike (0)   quote        

bob2356 says
That was the point. He isn't saying anything new in response to tariffs or threat of additional tariffs no matter how much people want to believe trump has somehow backed him into a corner.


Xi's initial response to the FIRST round of tariffs was to respond in kind with soy tariffs of their own. It was completely hostile.

Trump didn't blink, and instead he upped the ante and threatened an additional $100 billion in tariffs, now Xi is waving the olive branch and making IP protection concessions too.

That's not in response to Trump?

Trump won this trade war.

Only the most jaded Trump hater could deny that.
28   bob2356   ignore (1)   2018 Apr 11, 9:24am   ↑ like (0)   ↓ dislike (0)   quote        

Goran_K says
You're completely wrong. They will import more cars into South Korea too. Trump is opening up asian markets by leveraging their dependence on American import buying. No one is Asia wants to lose access to that market.


Want to lay out a case why they would import US models of cars in to asian markets when they are very profitably producing large numbers locally? It's true because I believe it shoudl be true doesn't count.
29   Goran_K   ignore (1)   2018 Apr 11, 9:29am   ↑ like (0)   ↓ dislike (0)   quote        

bob2356 says
Want to lay out a case why they would import US models of cars in to asian markets when they are very profitably producing large numbers locally? It's true because I believe it shoudl be true doesn't count.


Sure.

Now that Xi is making concessions on IP protection, companies like GM won't have to partner with "Wuling Motors" and share technology with a domestic Chinese "preferred partner" to produce their cars, and can now protect their technology and produce their own cars within their own plants. More money comes back to America, but most importantly, R&D costs are not wasted, like they are now since GM can actually protect its own IP. This is not just about cars, it's also about semiconductor technology, software, etc.

Let's see Wuling Motors try and sell cars using their own domestically produced tech without GM's help. Doubt they will go far.

This has been one of the biggest issues surrounding this trade war.
30   bob2356   ignore (1)   2018 Apr 11, 9:38am   ↑ like (0)   ↓ dislike (0)   quote        

Goran_K says


Yes he is. Xi's initial response to the FIRST round of tariffs was to respond in kind with soy tariffs. Then Trump up the ante and threatened an additional $100 billion in tariffs, now Xi is waving the olive branch and making IP protection concessions too.


Goran_K says

Now that Xi is making concessions on IP protection, companies like GM won't have to partner with "Wuling Motors" and share technology with a domestic Chinese "preferred partner" to produce their cars, and can now protect their technology and produce their own cars within their own plants. More money comes back to America, but most importantly, R&D costs are not sunk, like they are now since GM can actually protect it. This is not just about cars, it's also about semiconductor technology, software, etc.


He didn't say a word about joint investments. He was very careful to avoid that. You ducked your orginal point. Where are the imports coming from? You are only talking about manufacturing in china. Why would US car makers be importing into china when they have very profitible plants in china making cars suited to the china market even if the tariff were zero? Still waiting. Lots of ducking and shuffling.
31   Goran_K   ignore (1)   2018 Apr 11, 9:41am   ↑ like (2)   ↓ dislike (0)   quote        

bob2356 says
He didn't say a word about joint investments. He was very careful to avoid that. You ducked your orginal point. Where are the imports coming from?



How do you know what he was "careful to avoid"?

Trump is not dumb. Xi isn't going to make IP concessions then say "Nope, Wuling is a joint venture, we get to keep any IP because it's a joint venture." That doesn't actually solve the problem.

Xi has two choices, keep getting wrecked in a trade war, where he has absolutely no leverage, or make concessions.

I know which way Xi is going to go, you should figure it out too.


You are only talking about manufacturing in china. Why would US car makers be importing into china when they have very profitible plants in china making cars suited to the china market even if the tariff were zero? Still waiting. Lots of ducking and shuffling.


You know what would be more profitable? Not having to do business with Wuling Motors under a ridiculous contract where they can steal U.S IP and profit simply because they're chinese.
32   bob2356   ignore (1)   2018 Apr 11, 9:54am   ↑ like (0)   ↓ dislike (0)   quote        

Goran_K says

You know what would be more profitable? Not having to do business with Wuling Motors under a ridiculous contract where they can steal U.S IP and profit simply because they're chinese.


So GM will be closing the chinese factories and bringing in cars from Ft Wayne? Sorry, still waiting to hear why there will be US car imports to china.

Goran_K says

I know which way Xi is going to go, you should figure it out too.


He will weasel any and every way possible giving up the minimum, while generating maximum publicity. Dropping car tariffs will play well with trumps base and stroke trump's ega, but will make very little difference in car imports to china.

If trump really wanted to deal with IP theft then he should have partnered with every country that does business with china and presented a unified front to china instead of pissing the whole world off with the bullshit steel tariffs. But that would have taken something called leadership, a critically missing part of trumps adminstration.
33   TwoScoopsOfSpaceForce   ignore (2)   2018 Apr 11, 10:47am   ↑ like (0)   ↓ dislike (0)   quote        

Nothing can be done. Let's just keep the Trade Deficit, which is inexorably tied to Budget Deficits (since offshored factories pay no tax, their non existent workers pay no tax, but the infrastructure and permanent costs still need to be paid with a smaller tax base).

But don't worry! Losing all those $15/hr+bennies jobs will be replaced by the fact that $900 Laptops made in a US factory that pays millions in taxes now will be $300 Imported Laptops that pay maybe 2.5% tariffs on their $100 declared value, or $2.50 each. Sure, $2.50/unit can make up for tens of millions in property tax, payroll tax, sales tax, corporate tax, and income tax lost to outsourcing, no problem.

Maybe $25/unit in tariffs might make things better.
34   Goran_K   ignore (1)   2018 Apr 11, 11:18am   ↑ like (3)   ↓ dislike (0)   quote        

bob2356 says
So GM will be closing the chinese factories and bringing in cars from Ft Wayne? Sorry, still waiting to hear why there will be US car imports to china.


No, they don't have to do that. They can build their own plants without Wuling. Why would they need Wuling once concessions are met?


He will weasel any and every way possible giving up the minimum, while generating maximum publicity. Dropping car tariffs will play well with trumps base and stroke trump's ega, but will make very little difference in car imports to china.


Even if Xi gives up the "minimum" (and let's be honest, Xi has no leverage at all so he's going to give up a lot), that's millions of leaps further than Obama ever got out of Xi.

Trump is fighting a battle for Americans, Globalist like Obama fought to make America weaker.
35   Heraclitusstudent   ignore (1)   2018 Apr 11, 11:25am   ↑ like (0)   ↓ dislike (0)   quote        

TwoScoopsPlissken says
Nothing can be done. Let's just keep the Trade Deficit, which is inexorably tied to Budget Deficits (since offshored factories pay no tax, their non existent workers pay no tax, but the infrastructure and permanent costs still need to be paid with a smaller tax base).


The solution to the trade deficit without tariffs is simple: slap a 25% VAT on all manufactured goods, and lower payroll taxes by an equal amount to make it up for US employers.
(i.e. stop punishing work and start punishing consumption in the US)

If China complains, tell them it's an internal policy and the US will not be bullied by anyone.
37   rando   ignore (0)   2018 Apr 11, 12:33pm   ↑ like (1)   ↓ dislike (0)   quote        

Goran_K says
Trump is fighting a battle for Americans, Globalist like Obama fought to make America weaker.


Yes, this is the essence of the situation.

Trump seriously seems to be the greatest president we have had in decades. Other presidents were fucking us over by agreeing to wildly lopsided trade deals.
38   Goran_K   ignore (1)   2018 Apr 11, 1:16pm   ↑ like (5)   ↓ dislike (0)   quote        

This is why Trump haters lose a lot of credibility in my opinion. Regardless of whether you voted for him or not (I did not), you can’t deny that he’s making the moves he’s making in the interest of helping Americans. It’s nationalism and that’s why he was elected. I have no doubt Trump loves America.

If one is an American and critical of Trumps moves yet remained silent when Clinton, Bush and Obama basically ignored the American worker and sent their jobs overseas, then that person is part of the reason Trump was elected and IMO what is wrong and weakened this great country.

If someone is not American then I don’t care what they think about our trade polices. They can fuck right off.
39   epitaph   ignore (0)   2018 Apr 11, 4:46pm   ↑ like (1)   ↓ dislike (0)   quote        

Thanks Obama Trump!
40   theoakman   ignore (0)   2018 May 23, 7:02am   ↑ like (1)   ↓ dislike (0)   quote        

But are tariffs racist?

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