China Caves: Trump Wins Huge Trade Concession [VIDEO]
Are you tired of winning yet?
Trump met with Chinese President Xi Jinping to discuss several issues, including the massive trade imbalance between the nations.
Of course, he came out on top.
It is being reported that Beijing is offering the Trump Administration greater market access to avoid an all-out trade war between the two powers.
The Financial Times claims that these concessions are not all that difficult for Beijing.
“At present, foreign investors cannot hold a majority stake in securities and insurance companies in China. The country’s largest companies in these sectors, such as Citic Securities and China Life Insurance, have achieved enormous scale in the 15 years since the world’s second-biggest economy joined the World Trade Organization, making them formidable competitors for new entrants to the market.”
Apparently China is also planning to end the 14-year ban on United States imports, as well as purchasing more grain from America in an attempt to ease escalating trade tensions.
Trump’s threats of slapping huge tariffs on Chinese goods might be one of the reasons that China was willing to come to this deal. During his campaign, Trump threatened to label China a “currency manipulator” on his first day in office, but failed to do so. Some say he opted for a more diplomatic approach and it seems to have worked.
But it’s not just trade that was discussed. Raw video footage shows Xi meeting the First Family and seeming to get along with them quite well.
I think this is just the beginning of a long and happy trade relationship with China. If there’s one thing Trump can do well, it’s negotiate profitable deals. In that aspect, he was one of the most qualified Presidential candidates of 2016. Even though I’m not his biggest fan, I have to admit that he does have his strengths and is definitely using them to our advantage.