Any U.S.-China deal will be a cosmetic affair that gives Trump a “win” and President Xi clearance to make China’s rise great again.
Share to twitterU.S. President Donald Trump shakes hands with Japan's Prime Minister Shinzo Abe, as they sit beside China's President Xi Jinping at a meeting on the digital economy at the G20 Summit in Osaka on June 28, 2019.If you’re looking for evidence that a U.S.-China trade agreement is a pointless exercise in economic futility, considerTrump’s first big decision as president in 2017 was pulling out of the Trans-Pacific Partnership.
Trump is desperate for a face-saving way to end the trade war. Fallout on U.S. farmers and consumers paying higher import prices is imperiling Trump’s reelection odds for 2020. Yet backing down to Beijing would create its own problems with Trump’s base. Xi’s men are well aware of this, just like Abe’s.,” as Trump claims. It won’t even be 50% for American consumers. Sure, Xi might pledge to buy $100 billion or even $200 billion of U.S. goods.
All these discussions would’ve had greater odds of success if conducted under a 12-member TPP consortium. They might’ve gotten a better hearing in Beijing if Trump weren’t trying to drive China into recession and blaming it for everything from creating a climate change “hoax” or “killing” U.S. living standards. Trump might’ve fared better if he hadn’t invented phone conversations that China claims didn’t happen. and blowback on the U.S.
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