Trump Silences Dems Concerned About Chinese Trade War, Strikes MASSIVE Trade Deal Instead

President Trump and Chinese President Xi Jinping have agreed to a massive trade negotiation which aims to lower America’s trade deficit. The deal is also expected to “help support growth and employment in the United States.”

“At the direction of President Donald J. Trump and President Xi Jinping, on May 17 and 18, 2018, the United States and China engaged in constructive consultations regarding trade in Washington D.C.,” a statement from the Office of the Press Secretary read. “The United States delegation included Secretary of the Treasury Steven T. Mnuchin, Secretary of Commerce Wilbur L. Ross, and United States Trade Representative Robert E. Lighthizer. The Chinese delegation was led by State Council Vice Premier Liu He, Special Envoy of President Xi.”

“There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China,” the statement continued. “To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services. This will help support growth and employment in the United States.”

Here’s more from the statement:

Both sides agreed on meaningful increases in United States agriculture and energy exports. The United States will send a team to China to work out the details.

Both sides attach paramount importance to intellectual property protections, and agreed to strengthen cooperation. China will advance relevant amendments to its laws and regulations in this area, including the Patent Law.

Both sides agreed to encourage two-way investment and to strive to creat a fair, level playing field for competition.

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Both sides agreed to continue to engage at high levels on these issues and to seek to resolve their economic and trade concerns in a proactive manner.

As Reuters reports, “President Donald Trump made reducing the trade deficit between the United States and China a key campaign promise.”

Amid the trade negotiation, Reuters reported comments by Trump’s new economic adviser Larry Kudlow:

“China has come to trade,” Kudlow told reporters at the White House as U.S. officials met with a Chinese trade delegation for a second day in Washington.

“They are meeting many of our demands. There is no deal yet to be sure, and it’s probably going to take a while to process, but they’re coming to play.”

Kudlow said the Chinese had offered a package of U.S. goods purchases and other steps to cut China’s annual U.S. trade surplus by some $200 billion, contradicting a Chinese foreign ministry spokesman who denied that such a reduction had been offered.

“This rumour is not true. This I can confirm to you,” Chinese foreign ministry spokesman Lu Kang told a regular news briefing on Friday, adding that consultations in Washington “are constructive.”


Kudlow said the Chinese offer included energy and farm commodities purchases, adding “the number is a good number,” adding that China would also need to lower non-tariff barriers and agree to a “verifiable process whereby the technology transfers and the theft of intellectual property stops.”

U.S. President Donald Trump has threatened to impose tariffs on up to $150 billion of Chinese goods to combat what he says is Beijing’s misappropriation of U.S. technology through joint venture requirements and other policies. Beijing has threatened equal retaliation, including tariffs on some of its largest U.S. imports, including aircraft, soybeans and autos.