Secretary Wilbur Ross Leads Trade Delegation To China…

Interesting delegation to accompany Secretary Ross: treasury, agriculture and energy. Small delegation, short trip, sounds like contract discussions.

From Camp David –  Today, President Donald J. Trump announced the members of an official delegation from the United States to China to discuss rebalancing the bilateral economic relationship between the United States and China.

These meetings will take place from June 2 through June 3, and are a continuation of the talks held in Beijing one month ago and in Washington two weeks ago.

Secretary of Commerce Wilbur Ross will lead the discussions, accompanied by United States Ambassador to China Terry Branstad, Under Secretary of Treasury for International Affairs David Malpass, Under Secretary of Agriculture for Trade and Foreign Agricultural Affairs Ted McKinney, and United States Trade Representative Chief Agricultural Negotiator Ambassador Gregg Doud.

Additional officials and technical experts from the Department of Commerce, Department of Treasury, United States Trade Representative, Department of Agriculture, and Department of Energy will also participate in the talks.  (link)

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This entry was posted in China, Economy, energy, President Trump, Trade Deal, Uncategorized, US dept of agriculture, US Treasury, USA. Bookmark the permalink.

43 Responses to Secretary Wilbur Ross Leads Trade Delegation To China…

  1. Michael says:

    I gotta get some sleep…………..

    Liked by 3 people

    • jefcool64 says:

      Trump train does have comfortable seats, I’ll give you that.

      Liked by 3 people

    • Let's roll says:

      The great Wilburine Ross will be in China for 2-3 days, accompanied by his heavy hitting economic team. Won’t take this Trump’s MAGA team but a few meetings, not months of ‘talks that go nowhere,’ to work a Great Trade Deal with China for all US citizens.

      Game, Set, Match! Thank you, Lord, for President Donald J Trump!

      Liked by 1 person

  2. missilemom says:

    So is this the Trump counter to the Canadians threatening our ag products? China, open up to our agricultural exports or we won’t let your steel find its way into the US?

    Like

  3. fleporeblog says:

    Very interesting listening to our Mad Dog basically tell the Chinese Colonel that China will see additional ramifications for their actions pertaining to the South China Sea in the foreseeable future. The day after our Wilburine is their to show the Dragon 🐉 all the different Arrows our EAGLE 🦅 is prepared to use!

    Our Wilburine will relay a simple message. We can break China if we want to financially. They are sitting on nearly 250% debt in comparison to GDP. You take away most favorite nation and begin utilizing other countries in the region like India 🇮🇳 especially for trade on items we need as we begin to build our manufacturing factories to do it ourselves. China’s people will find themselves going backwards not forward.

    Japan 🇯🇵 is now an offensive military again. India 🇮🇳 is building their military. China has more to lose financially than we do!

    Liked by 10 people

    • icndark says:

      U R tha Sh!t!

      Liked by 2 people

    • Wilburine’s first question:
      “How are you reducing other countries’ Trade Deficits with China and making reparations for your theft of Intellectual Property to advance the world’s trust in your Belt and Road program?”

      Second question:
      “Do you plan to flood the world with China’s Subsidized Steel that you can’t ship it to us, or will you be idling your plants and workers instead?”

      Third question:
      “Would you like to reduce America’s Trade Deficit beginning with Steel, Aluminum and Auto components exclusively, or would you like us to help you through a more gradual transition by selling you Coal and Agricultural products?”

      Liked by 4 people

    • michaelhamblin says:

      Not to quibble, but isn’t China’s debt to GDP more like 300%?

      China’s debt surpasses 300 percent of GDP, IIF says, raising doubts over Yellen’s crisis remarks
      https://www.cnbc.com/2017/06/28/chinas-debt-surpasses-300-percent-of-gdp-iif-says-raising-doubts-over-yellens-crisis-remarks.html

      [“…]our estimates based on monthly data on total social financing suggest that China’s total debt surpassed 304 percent of GDP as of May 2017,” the IIF noted.

      Also discussed here briefly with corresponding IIF graph:

      https://www.zerohedge.com/news/2017-06-29/global-debt-hits-new-record-high-217-trillion-327-gdp

      Also keep in mind, that a significant drop in Chinese exports leads directly to a significant drop in Chinese GDP, leading unavoidably to much higher debt to GDP ratios. On the other side of high debt to GDP ratios is severe economic PAIN on a MASSIVE scale. Austerity and interest on debt will devour economic growth.

      In short, unless China plays ball with the U.S. on trade, and does it soon, Chinese economic prospects from being over-leveraged make their future dark and austere.

      But panda may well decide that it is time to slip the mask and release red dragon – with massive debt and no hope for corrective trade action they may calculate (miscalculate?) that they have nothing to lose with militarism. Clearly they are positioning the board. Too bad for them that “Chaos” anticipated their moves and has already counter-moved.

      Liked by 4 people

      • Dobegirl says:

        Michael
        I don’t mean to quibble with you either but the graph in your link explains the difference.

        While much of the debt issuance at the financial sector level has moderated in recent years, supplanted by outside money created by central banks, debt in the non-financial sector has continued to grow, and as of Q1 2017, hit an all time high of 242% of GDP.

        Like

      • fleporeblog says:

        Please quibble! Thank you 🙏 for sharing that! It might be Japan 🇯🇵 that is at 250%. China is worst.

        Like

    • Bill says:

      Vietnam trade also.
      Vietnam needs to fund Bramos anti-ship cruise missiles for their neighbor’s navy to the North…
      I did see a report by Peter Zeihan the the Chinese MUST secure Cam Rahm Bay (Vietnam) and Subic (Philippines) in order to secure their First Island Chain strategy.

      Liked by 1 person

    • Theresa Keys says:

      Wilburine only has to smile and the Chinese will crap their pants

      Liked by 1 person

    • jeans2nd says:

      Keep half an ear towards India, flep. India is cozying up to Putin again, ostensibly for purchasing the S-400 system. Just like Turkey.
      Not certain yet what the motives are here.

      Liked by 1 person

      • tunis says:

        The Soviet Union and now Russia has been and continues to be the biggest arms supplier to India. So what if India buys Russian S-400 air defense systems? When has India ever threatened the US?

        Like

        • jeans2nd says:

          India is not a threat, but India is now part of our Indo-Pacific strategy.
          Does India share our technology with Russia, or share Russia’s technology with us?
          Not accusing, just wondering out loud.

          Like

    • tunis says:

      While exports are a big part of their economy, domestic fixed asset investment is the biggest driver of their economy. All those ports, airports, high speed rail. nuclear power plants, highways, real estate, etc. China consumes more cement than the rest of the world combined. A lot of the debt has gone into this epically massive construction.

      China uses much less debt compared to the US and other western countries for current consumption. At least they got brand spanking new infrastructure for all their debt. What do we have to show for our trillions in debt? A destabilized Middle East with all our regime change wars?

      In any case all their debt as their banks and financial institutions are essentially state owned is quasi-government debt. They can always squeeze their citizens which they’ve had no problems doing for decades.

      Bottom line: China is the biggest and most potent adversary to the US.

      Liked by 1 person

  4. cthulhu says:

    Needz moar Wilburine pics……and the koala.

    Liked by 1 person

  5. scott467 says:

    Wilbur Ross is one of my favorites.

    I hope he is having the time of his life!

    Like everything he has learned and experienced in his long and successful career has been in preparation for this time, and he is ready, willing and able to deliver 🙂

    Liked by 6 people

    • cthulhu says:

      Whenever he appears in the media, he looks like he is a Happy Warrior. He can be explaining the simplest economic thing to the stupidest media celebrity and just lay it down.

      Liked by 2 people

  6. Perot Conservative says:

    Let me see, monetary policy / $$$, ag and energy. Ag and energy are areas we can immediately assist them with…
    . Piddly Canada what, 35 million people?

    Liked by 1 person

  7. emet says:

    In my opinion, China is on the verge of social upheaval. In addition to their debt, lack of basic freedom, and vast areas (populated by non-Han people)where the central government has no control, people are fed up with government corruption, which operated on a massive scale. The Chinese traditionally have a high tolerance for this kind of thing, but historically they have a limit, for example, the 1911 Wu Han uprising. The KMT likewise had gotten to the point where they just stole everything they could lay their hands on, so when the communists came even they looked better. If China deals falsely with the US on trade, they will sugfer evonomically, enough to push them over the edge.

    Liked by 2 people

    • svenwg says:

      It matters not what they say, it is rather the reality that they attempt to ignore that becomes the deciding factor.

      Like

    • jeans2nd says:

      And if the Chinese do not say otherwise, the Chinese are hit with social credits that take away more of their freedoms, such as being allowed to board a bus or train, or obtaining a good job.
      China’s social credit system ensures people like you never hear the truth.

      Please be certain to tell the entire truth.

      Like

  8. sundance says:

    Liked by 1 person

    • cthulhu says:

      LOL!

      Like

      • cthulhu says:

        This is the chaff they’re throwing out before our Wilburine even lands. What an amazing flinch. They know what’s coming. This is going to be EPIC!

        Seriously — “our agreements won’t work unless you disarm first?” I almost feel sorry for them.

        Liked by 3 people

  9. sundance says:

    Liked by 3 people

  10. sundance says:

    Liked by 6 people

    • cthulhu says:

      Decisions, decisions, decisions…..

      Believe the self-serving interpretation from a country that has been ripping-off the US for decades, or what common sense might lead you to believe…..

      Like

  11. Bill says:

    Interesting delegation to accompany Secretary Ross: treasury, agriculture and **ENERGY.**
    Neither Russia, Iran nor China will want Chinese energy deals with the USA (assuming shipment of oil or natural gas.)
    1) US leverage over China in the future if energy shipments stop.
    2) Defunds Russia’s general budget (including military.)
    3) Reduces Iran’s influence and energy supplies to China.

    Well played Mr President!

    Liked by 3 people

  12. Pointman says:

    Despite what people think, China is a rich country and needs huge markets like the US to export its goods into. OTOH, the US exports very little into China because of prohibitive tariffs. If Trump puts in place anti-Chinese tariffs, there’s minimal damage to the US, but it’d be very serious for China. An equalising deal will be made.

    https://thepointman.wordpress.com/2018/02/09/how-to-turn-around-a-failing-economy/

    Pointman

    Liked by 3 people

  13. TeaForAll says:

    China can flex their muscles all they want, in the end they will suffer economically. Only then will they negotiate a fair and balanced trade deal. The Art of the Deal

    Liked by 1 person

    • Bob Thoms says:

      TAoTD isn’t about making the other side suffer, it’s about making them wake up to their reality before the suffering hits, and getting the deal done.

      Like

  14. no-nonsense-nancy says:

    I remember from The Art of The Deal that Pres Trump always makes sure both sides are satisfied when leaving the negotiating table.

    Liked by 1 person

  15. jeans2nd says:

    “Chinese Vice-Premier Liu He held talks with the visiting US Secretary of Commerce Wilbur Ross in Beijing on Saturday and Sunday.”

    “the results achieved in the talks were on the basis of both sides’ efforts and the premise of not fighting a trade war.
    —>>>If the US side made trade sanctions including the tariff increase, the results will not come into force.”

    —>>>”China urged the US side to keep its promises on bilateral trade issues, and act in accordance with the spirit of the joint statement…”
    http://www.chinadaily.com.cn/a/201806/03/WS5b1389eba31001b82571dddf.html

    China Panda/Dragon. Aka liars.

    Like

  16. RH says:

    Trump should draw up a list of $500 Billion tariff on Chinese goods / services and drop it on the Chinese like a hammer.Then tell China reduce the TRADE IMBALANCE or the $500 Billion tariff goes into effect! China has no options but to buy American goods and services. All other options is detrimental to China.

    Like

    • tunis says:

      Having done business in China, I can tell you the biggest issue are non-tariff barriers. There’s an unwritten rule that Chinese companies (which are mostly state-owned) while nominally private and government entities only buy from Chinese companies. So if any non-Chinese companies want to sell in China they have to set-up joint-ventures with Chinese “partners”, who over time steal the technology and fuck you over.

      Like

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