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China issues waivers for (drops) tariffs on select US goods

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posted on Sep, 12 2019 @ 12:38 AM
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China issued tariff waiver on 16 US goods






China said Wednesday it would temporarily shield a small number of American products from tariffs, days before officials were scheduled to meet for trade negotiations.

According to a statement from the Chinese finance ministry, 16 types of products are set to be exempted from recently imposed duties on September 17. The exemption is valid for about one year.

The move was not expected to defuse tensions in President Donald Trump's yearlong trade dispute with China, which kept in place tariffs on major agricultural imports and thousands of other products. The US has vowed to expand tariffs to all Chinese imports in December.

The exemptions announced Wednesday included animal feed ingredients, cancer medication and chemicals. 



Among the chemicals are various lubricants (oil).

Mostly just a good-faith gesture, I assume, before negotiations. I imagine these are all products creating bottlenecks for Chinese industry -- I know oil is.


News comes shortly after the announcement that Chinese exports to the US dropped 16%.






Furthermore, the much-reported 3.8 per cent depreciation of the yuan in August failed to stop the decline in exports – despite Washington’s fears that it was being used to give China’s exporters an unfair advantage.

It is a far cry from the double-digit expansion that characterised the export machine that powered the Chinese economy for more than two decades.

China’s exports to the US in August dropped 16 per cent to US$37.3 billion, a stepper decline from the 6.5 decrease in July. Imports, meanwhile, dropped by 22.3 per cent to US$10.35 billion having decreased by 19.1 per cent in July. Overall, China now has a trade surplus of US$26.95 billion.

The weak export figures will put further pressure on China’s already slowing economy. The central bank on Friday said it would cut the amount of cash banks must hold as reserves to the lowest level since 2007 in a bid to inject liquidity into the economy and stimulate demand.

Analysts have been raising concerns about China’s consumption levels for months, with retail sales underperforming and various bouts of government stimulus failing to kick-start purchases of big ticket items such as cars. The sluggish imports suggest the government support has yet to trickle into the real economy.

The import slump also points to a downturn in the manufacturing sector: many of China’s imports are components ordered by factories, often for use in goods for export. In the most recent official manufacturing purchasing managers’ index, a gauge of factory owners’ sentiment, export orders remained in negative territory for the 15th month in a row.



They've got to make a deal. Baby steps.
edit on 12-9-2019 by RadioRobert because: (no reason given)




posted on Sep, 12 2019 @ 01:42 AM
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Hmmm, maybe this is why Trump pushed back tariff increases from Oct 1 to the 15th.



posted on Sep, 12 2019 @ 03:22 AM
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a reply to: Middleoftheroad

He certainly made it sound that way.



posted on Sep, 12 2019 @ 03:49 AM
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#winning

for all the naysayers... Trump doesn't blink and once again he's getting results!



posted on Sep, 12 2019 @ 04:04 AM
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a reply to: RadioRobert

I wouldn't confuse pragmatism with weakness.
I'd expect China to know exactly what it costs them to just wait for the end of Trump and to actually have a bunch of strategies how to minimise the damage.
Something the US doesn't seem to have at all: a plan. Unless you consider shooting yourself in the foot and threatening you'll do it again strategy.



posted on Sep, 12 2019 @ 04:38 AM
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a reply to: Peeple

Highest quality of life in 20 years, largest wage growth in history, only time since 2009 we had 13 months of 3% wage growth. Workers had 3.5% growth increase, managers 2%, so the average American like me is getting huge benefits. Better trade deals. If this is Trump shooting his foot and having no idea what he's doing then you must think he is godlike with what he could do with a plan.



posted on Sep, 12 2019 @ 04:49 AM
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a reply to: OccamsRazor04

That's nice and all but still effects from the recession 10 years ago and not result of Trump's politics. That's not how economy works.



posted on Sep, 12 2019 @ 04:50 AM
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a reply to: Peeple

Haha I forget, now I remember how it works, everything bad is Trump, everything good is Obama.



posted on Sep, 12 2019 @ 04:52 AM
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a reply to: OccamsRazor04

What insane person would say the recession was good? Wtf are you talking about?



posted on Sep, 12 2019 @ 04:55 AM
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originally posted by: Peeple
a reply to: RadioRobert

I wouldn't confuse pragmatism with weakness.
I'd expect China to know exactly what it costs them to just wait for the end of Trump and to actually have a bunch of strategies how to minimise the damage.
Something the US doesn't seem to have at all: a plan. Unless you consider shooting yourself in the foot and threatening you'll do it again strategy.


Do you honestly believe that the Trump Administration doesnt have the same data for both countries involved?



posted on Sep, 12 2019 @ 04:55 AM
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a reply to: Peeple

Maybe go back and read posts again.



posted on Sep, 12 2019 @ 04:56 AM
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originally posted by: OccamsRazor04
a reply to: Peeple

Highest quality of life in 20 years, largest wage growth in history, only time since 2009 we had 13 months of 3% wage growth. Workers had 3.5% growth increase, managers 2%, so the average American like me is getting huge benefits. Better trade deals. If this is Trump shooting his foot and having no idea what he's doing then you must think he is godlike with what he could do with a plan.





Oh right so workers in America en masse are feeling that 3.5% increase are they, how many workers feel this way again ?

We all know you are doing better but what exactly has that got to with everyone else?



posted on Sep, 12 2019 @ 04:58 AM
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originally posted by: KYRick

originally posted by: Peeple
a reply to: RadioRobert

I wouldn't confuse pragmatism with weakness.
I'd expect China to know exactly what it costs them to just wait for the end of Trump and to actually have a bunch of strategies how to minimise the damage.
Something the US doesn't seem to have at all: a plan. Unless you consider shooting yourself in the foot and threatening you'll do it again strategy.


Do you honestly believe that the Trump Administration doesnt have the same data for both countries involved?




Yes I do, trump can't even manage his staff let alone a country, and more to the point any kind of diplomacy.



posted on Sep, 12 2019 @ 05:11 AM
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a reply to: hopenotfeariswhatweneed

That is the average increase for workers. So that is not me, that is the definition of everyone else.



posted on Sep, 12 2019 @ 05:14 AM
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a reply to: hopenotfeariswhatweneed

Highest quality of life in 20 years and largest wage increases in US history. 13 months of over 3%, and the average worker not the managers, are getting most of that.



posted on Sep, 12 2019 @ 05:21 AM
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originally posted by: OccamsRazor04
a reply to: hopenotfeariswhatweneed

Highest quality of life in 20 years and largest wage increases in US history. 13 months of over 3%, and the average worker not the managers, are getting most of that.




Yet unprecedented amounts of people are falling through the cracks, entire cities are collapsing and you think that is winning



posted on Sep, 12 2019 @ 05:36 AM
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originally posted by: hopenotfeariswhatweneed

originally posted by: OccamsRazor04
a reply to: hopenotfeariswhatweneed

Highest quality of life in 20 years and largest wage increases in US history. 13 months of over 3%, and the average worker not the managers, are getting most of that.




Yet unprecedented amounts of people are falling through the cracks, entire cities are collapsing and you think that is winning

That's simply untrue. Democrat strongholds who fight Trump create really bad conditions for citizens who live there. Trump can't stop them from their self destruction, all he can do is help the country, and he is. Highest quality of life, average wage is way up, and more people are working.

Your claims are simply false.


Wage increases were better for workers than managers. While the hourly wage increased 2 percent for managers, it increased an impressive 3.5 percent for workers.


That is the definition of not just me, but the average working class American is winning huge under Trump.
edit on 12-9-2019 by OccamsRazor04 because: (no reason given)



posted on Sep, 12 2019 @ 06:47 AM
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a reply to: hopenotfeariswhatweneed

THERE IT IS! That damn TDS rears its reeeing head agian... ORANGE MAN BAD! HES A POOPY DUMB DUMB HEAD!

jeez



posted on Sep, 12 2019 @ 09:25 AM
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originally posted by: Peeple
a reply to: OccamsRazor04

That's nice and all but still effects from the recession 10 years ago and not result of Trump's politics. That's not how economy works.


That's nice and all, but we're now enjoying the longest period of continued expansion ever, which means if all the good news is still "just" the recovery from recession, it's taken a painfully, literally historic, long time to recover. Longer than it took to recover from the Great Depression.

And it continues to "climb out" faster under Trump than the preceding eight years. All while Trump is implementing policies that the corporate media lackeys continue to claim are harmful to the economy.

It's simply an economic miracle, beating impossible odds, I guess, that three years after Trump started "destroying" the economy , we're still growing, unemployment dropped to and hovers at a 50-yr low, wages continue to climb, workplace participation is up, while in the midst of a "disastrous" trade war and " looming worldwide recession".



posted on Sep, 12 2019 @ 03:46 PM
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a reply to: Peeple




That's nice and all but still effects from the recession 10 years ago and not result of Trump's politics. That's not how economy works.


You should tell your buddies on this site because the left-wing talking point on this site varies dramatically when it comes to the economy.

I'm gonna stick with common sense. Trump came in lowering the corporate tax rate to make America competitive against other countries while reducing job-killing regulations. Immediately the economy took off, jobs started flowing in, bonuses were being handed out, new businesses started popping up all over the place, unemployment dropped through the floor and wages have been increasing.

I don't know if you remember, but Obama told us we needed a magic wand to bring back manufacturing jobs. I guess Trump found that magic wand, which we call common sense.
edit on 12-9-2019 by Middleoftheroad because: (no reason given)




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