Treasury Secretary Mnuchin Discusses U.S-China “Phase-One” Trade Reforms – Compliance Standards…

U.S. Treasury Secretary Steven Mnuchin appears on FOX Business to discuss the U.S-China ‘phase-one’ trade agreement, the benefits, enforcement mechanisms and retention of tariffs and particular sanctions until compliance can be reviewed.

Phase-1 establishes the baselines; resets the ability of U.S. companies to enter China; establishes rules for market entry; and sets the parameters for enforcement.  Any future phase is contingent upon evaluation of phase-one enforcement mechanisms.

This entry was posted in Big Government, China, Communist, Donald Trump, Economy, Election 2020, Hong Kong, Legislation, NAFTA, President Trump, Trade Deal, Uncategorized, US dept of agriculture, US Treasury, USA, USMCA. Bookmark the permalink.

20 Responses to Treasury Secretary Mnuchin Discusses U.S-China “Phase-One” Trade Reforms – Compliance Standards…

  1. ElGato says:

    What a great interview. Mnunchin plays it so cool but we all know he’s one of VSGPDJT’s stone-cold Killers. Mesmerizing to listen to him and knowing that he plays at a very high level. A bit jealous, perhaps…

    Liked by 6 people

    • GGHD says:

      Mnunchin seems like a person that can stay completely focused on the situation in front of him. He’s all business. = ‘A bear trap mind. Closed to everything else, but staying latched onto the business at hand.’ ~~~ It would be difficult to deceive or bribe someone like that! Mnunchin’s loyalty is to the USA.

      Liked by 1 person

  2. A2 says:

    👇👇 Excellent analysis.

    “ China’s Truce With U.S. Exposes Rest of the World
    The phase one pact may lead Beijing to put more trade pressure on other countries. ”

    https://www.bloomberg.com/opinion/articles/2020-01-15/u-s-china-trade-deal-exposes-rest-of-the-world-to-more-deficits?utm_medium=social&cmpid%3D=socialflow-twitter-view&utm_content=view&utm_source=twitter&utm_campaign=socialflow-organic

    Liked by 5 people

    • ABN says:

      A2, to be blunt, I am very skeptical China will live up to the agreement. Maybe they’ll be OK until after the election, maybe not even that. What will phase two bring? Will we even get there? What do you think? Anyone else?

      A2’s linked article provides good information about how the deal with China will play out globally. To add to that, it’s also clear China’s deal with USA puts a sort of global spotlight on China’s compliance or lack thereof. Furthermore, the deal alerts other nations and EU what to expect from USA in years to come.

      There are many new factors at play now. I wonder what others think might happen.

      Liked by 1 person

      • A2 says:

        I agree. I have read the ‘insider’ Taoran notes and all the statements coming out from Caxing and other sources from the PRC. I did not post the latest Taoran notes because no one is interested in the general population of the US.

        Needless to say, the PRC will buy stuff, that’s the easy part. They need it like pork . But the manufacturing clauses is where it will get dicey. If they slow walk this, probably after the election in the US, there be massive problems,

        Liked by 1 person

        • ABN says:

          PDJT seems to have positioned USA to be fine whatever happens. I think he probably expects Phase Two to be unlikely, especially as Phase One may not even work. In that case (no Phase Two or greatly delayed), USA continues gradually decoupling, giving companies more time to reposition. Meanwhile, US still collects tariffs and makes some sales.

          If all goes well and we get to Phase Two, that will be good too. I am very confident PDJT and his team will not weaken or cave if CCP (Chinese Cummunist Party) cheats or comes up short on purchase agreements. Does CCP see it this way? Do they think PDJT will give in? (I doubt that.) My sense is they are still hoping for no second term and a weak president replacing PDJT.

          What will CCP do when/if PDJT wins a second term and maybe also takes senate and house? Something is going to break in that case because as presently constructed, I do not see CCP being able to complete a Phase Two. Right now, you might say, CCP is slowly walking the plank as a strong Phase Two trade deal threatens the very basis of their existence.

          Liked by 1 person

  3. Rykehaven says:

    @A2

    Not really.

    What that article is advocating is that Trump throw away all the gains he’s made against China, after reducing reliance and the deficit with China – and run bigger deficits with other countries, which will bring back the overall deficit trajectory and cause major unemployment in the United States.

    So China will have more and more avenues to launder their products into other countries for “origin” production and manufacturing (don’t believe the hype, origin cheating and counterfeits are a huge part of Chinese industry), because ultimately, the key to all of this is an administration that is willing to enforce the mechanisms. Once a Bernie or Warren or Clinton, or Michelle Obama or a Bush or whatever gets back into the Oval Office, they’ll “selectively enforce” the enforcement mechanisms and BOOM…..China is back in business, Japan is elated along with South Korea, Taiwan, Thailand, etc. (because they’ll be cheating and using Chinese parts in their products too).

    Bloomberg is trash.

    Keep an eye on opposition propaganda, but don’t trust it for a second.

    Like

    • A2 says:

      This opinion column is not trash. I give them credit for posting opposite views from the MSM.

      Maybe you should think about it. Not a binary view, not feeding your preconceived opinions.

      You might find you agree.

      Like

  4. Whenever Trump delivers an aggressive military message, Mnuchin is right there with Esper, Pompeo and whoever else. Mnuchin is a true warrior. Economic leverage is national security, that’s one of SD’s signature constructs. Thanks for that.

    Liked by 4 people

  5. The Demon Slick says:

    Phase one will skyrocket the markets but it’s a head fake. You can still make money from the surge but don’t go long on anything with exposure to the Chinese economy. 6 months tops. China will cheat, we will catch them, tariffs, denials, a rough patch. Ag will remain strong even through the turmoil because the Chinese have no choice, they need to buy massive amounts of agricultural goods.

    Liked by 4 people

  6. A2 says:

    Sorry RYEKEHAVEN, you have misread and misinterpreted the article.

    We are talking facts. One of the consequences of the trade war is that The PRC is decoupling. Do not doubt that. It is evidenced.

    The article is saying is that, other countries that trade with China will face increasing pressure to offset that deficit. That will eventually turn them against the PRC.

    For many obvious reasons if you know anything about finance and trade.

    Liked by 1 person

    • abdiesus says:

      Yes, and it’s already happening. EU & Japan now want to ban 4 more categories of subsidy which are particularly abused by China. That means, despite all the rhetoric to the contrary, Trumps reciprocal approach to trade with China is spreading to other countries as they are confronted by the truth it represents, and that is going to be a force multiplier vs. China.

      Liked by 1 person

  7. Bigly says:

    So mini mike goes out and declares that this deal is dead yesterday with zero evidence and the stock market responds/dips. I see no evidence of that and there’s no discussion of it – but it happened, did mini mike make it up? Where’s the outrage?

    Like

  8. Mhf says:

    Mean while down on the farm! We need the next trump payment badly. When y’all talk about Ag will be ok you must be talking about Brazil. That is who is supplying soy to China

    Like

    • Val says:

      Brazil is also manipulating the currency. I remember the President tweet about it. They are still doing it.

      They deal so shameless with China that you can buy straight from China in Brazilian websites.

      Like

  9. Danimal28 says:

    Love Trump and his team, but where is the text of the ‘deal’? I have heard even the USMCA is more like NAFTA than less.

    Liked by 1 person

  10. GGHD says:

    ~Any article (by anyone) about China and trade should be read in conjunction with this article on TheConservativeTreehouse. = ~China Confirms Ideological Disposition: “no matter what Americans do, the negative impact on us would be manageable and foreseeable.”…~ Posted on May 7, 2019 by sundance. There are links in the article too. There are similar articles elsewhere on TheConservativeTreehouse.
    [From the article about the Ideological Disposition of China] =

    “We have discussed the Chinese outlook toward trade and negotiations at great length. One of the overriding issues has always been the zero-sum disposition of China as it relates to any engagement. To wit: if it does not benefit China, it simply is not done.”

    “Peace or war. Win or lose. Yin and Yang. Culturally there is no middle position in dealings with China; they are not constitutionally capable of understanding or valuing the western philosophy of mutual benefit where concession of terms gains a larger outcome. If it does not benefit China, it is not done. The outlook is simply, a polarity of peace or war. In politics or economics the same perspective is true. It is a zero-sum outlook.”
    *******************************************************
    There are a number of articles about what is a Stake for the American People, TheConservativeTreehouse. [One such article, with ~links too.] =

    “Wall Street Multinationals React to U.S-China Trade Decoupling…” ~ Posted on August 5, 2019 by sundance.

    “Originally outlined over two years ago. Reposted by request, because we are watching it play out in real time: Believe me, at the heart of the professional/political opposition the issue is the money; there are trillions at stake.” …
    +
    “Trump’s trade goal is reciprocity; free and fair trade. However, the EU and Asia, specifically China, don’t want to give up a decades-long multi-generational advantage. This is part of the fight.” …

    “Because so many shifts -policy nudges- have taken place in the past several decades few academics and even fewer MSM observers are able to understand or explain how Trump planned to get off the service-driven economic path and chart a better course.” …
    +
    “As a result, President Trump has to fight adverse economic opponents on multiple fronts…. and their purchased mercenary army we know as DC politicians….”
    ********************************************************************************
    ********************************************************************************
    ~My comment: Maybe, someday Trump will have a statue in Washington DC ~taller than the Washington Monument, and that last sentence from TheConservativeTreehouse will be on it.
    “As a result, President Trump has to fight adverse economic opponents on multiple fronts…. and their purchased mercenary army we know as DC politicians….”

    Liked by 2 people

  11. Pew-Anon says:

    Is it just me, or has Sec. Ross disappeared as the China trade deal signing approaches?

    Like

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