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      10-14-2019, 10:30 AM   #39
Lieutenant Colonel

Drives: 2015 Chevrolet SS
Join Date: Oct 2012
Location: Saint Louis

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Multiple reports (WSJ, Bloomberg, Reuters) suggested some of the optimism surrounding US-China trade truce touted by President Trump last Friday may have been a bit overdone. Deal leaves in place US tariffs on $350B+ of Chinese imports, allows China to kick down the road key concessions, including on industrial subsidies, it does not want to make. Beijing never confirmed the $40B-$50B of US ag purchases highlighted by Trump, while US ag industry experts skeptical. Bloomberg reported China wants more talks to hammer out details of the "phase one" trade deal, may push for US to scrap December's new tariffs.

The Oval Office announcement of a phase one trade deal was "contingent on it being written," Trump said, with no apparent irony.

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