President Trump came away from last week’s meetings with Chinese President Xi Jinping with some monumental victories for U.S. trade, per Axos.
Prior to their two-day Mar-a-Lago retreat, the President had indicated on numerous occasions that he was optimistic about trade talk.
Check it out:
President Trump’s Mar-a-Lago hosting with Chinese President Xi Jinping appears to be bearing some fruit, per the FT, which says China has offered the following concessions on trade:
- A drop on China’s ban on U.S. beef, which has been in place since a Mad Cow Disease scare in 2003.
- Foreign investors will be allowed to hold majority stakes in Chinese investment and securities companies. This concept was discussed during the Obama administration, and a Chinese official told the FT it would have gone through had Obama had a few more months in office.
A deal on beef would be a remarkable development, particularly for heartland Americans, as it’s been said Trump’s needed a victory like this one in order to satisfy those voters.
This is additionally notable as Iowa Governor Terry Branstad, a longtime friend of Xi, transitions into his role as U.S. Ambassador to China. The cattle industry remains a top revenue-driver in the state of Iowa, so it will be interesting to see how negotiations develop moving forward.