Commerce Secretary Howard Lutnick appears on CNBC to outline some of the topline details behind the latest U.S-China trade agreement.
As Lutnick notes, with all the terms agreed over two long days of negotiation, the details now move to “the paper” where President Trump and Chairman Xi will review and approve. The agreement is ¹only between the USA and China and does not involve trade details with other nations who will not be pulled along by our U.S. position.
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This facet is very interesting because it means ¹Canada, a nation entirely dependent on China for industrial raw materials, does not gain benefit from the outcome of the U.S-China trade agreement. Canada is openly, publicly, trying to develop their economic model with a relationship toward the U.K and EU, to the detriment of the USA. If China grants benefit to the USA that are not existent for Canada, the U.K and E.U, that puts their coalition of economic adversaries at a disadvantage.
Lutnicks’ throw-away line, “we tried to help them, but it didn’t work out”… moving on. lol
Snow Mexicans lose again!
Sad Saps soon to melt in tears.
Sounds like a good deal on its face. I’m ok with student visas. One thing I do not want is any H1-B or other work visa give-aways in any trade deals. We need to ensure U.S. citizens get our jobs first.
The HIB sellout of the American worker is already a given.
Anything connected to Big Tech/AI is of the highest priority.
H1B is a scam and is not needed for AI or Big Tech – mediocre talent at cut-rate prices for Big Tech is all it is. Cut the student spy visas too. But alas, I could dream but knew they’d cave.
student visas are one thing when they stay forever, they are a whole different animal when they must leave after studies completed .
They NEVER leave, check out the gundealer in Texas.
then make them or you will end up like the UK
I did a foreign exchange program. It was one year. Why can’t we just do those. Make it an even trade between the schools, too.
I saw we were allowing 280000 students back in the Country? Why…..? How does that benefit us. Why train our enemy. Expediting our demise………Compromise… allow 10 back in
I hope its not true that some claim Trump promoted a Green Card with every foreign student graduation.
Student visas have to stop for 10years, until we deport all Chinese illegal border crossers which is a small army of young men. Frankly no trade with China so it collapses and the people revolt. Stop being a Mr nice guy, president Trump.
Between 40-80% of all students in US universities in STEM fields are non-US citizens. The numbers vary by program and the percent of foreign-nationals is higher for masters level than bachelors, up closer to the 80% level in PhD programs.
So bottom line, if we were to suddenly end all student visas the STEM departments in much of the US university system would collapse. They lose a huge chunk of their students and would lose the vast majority of their teaching-assistants.
That would be devastating to American competitiveness.
Like it or not, much of the technical expertise base in the US is now foreign-born and often non-US citizen.
Somehow the US must rapidly ramp up the number of US-citizen university students in the STEM fields. Today a higher than ever percent of US high-school graduates go to college. But they mostly take non-technical majors. Way too many take non-useful majors with negative economic value. Those American-born students who do go into STEM fields are often first or second-generation from (mostly East-Asian and South-Asian) immigrant parents.
Mass student visas to collapse the university system – but hey it’s good revenue, and what’s a little spying?
Mass H1B to collapse the tech industry for American citizens – but hey what’s a little gravy for the Tech Bros?
Subsidise STEM Degrees for Americans and pay for it by raising the costs of Arts Degrees, simples
You note the absence of US high school grads in our universities’ STEM programs.
Might that be because STEM programs require both a strong knowledge base and a commitment to hard work from entering students? And many (most) US high schools inculcate neither in their graduates?
Personally I don’t think the USA should issue any student visas to anyone from a hard communist nation, most especially China. Too often they’ve proven unreliable and unsafe. Chinese students are more likely Chinese spies disguised as students.
(MHO. YMMV)
I believe H1B visas are primarily a tool to hire low cost IT workers from India
Watched the video. Lutnick ‘feels good’ about it. Near the end of video says it’ll take a couple months to work out the other parts like China buying more of our AG and Equipment.
Sounds like a fluid situation still. Probably always will be fluid with China cheating the deal somehow someway.
Gotta wait till the ink dries and see how Xi ‘feels’.
Well Lutnick feels real good and positive about it
I hope China for once does what it agrees too.
Keep hoping. China will find a way to cheat. They are determined to be the biggest dog on the block and are willing to do whatever it takes.
NEVER HAPPEN!
Clinton was doing this treason in return for the illegal campaign donations he, the DNC, and more than likely the Uniparty republicans, received aka ChinaGate.
“Normalizing trade with China set our rival on a path to becoming the industrial powerhouse the world knows today, decimating American factory towns in the process and upending old assumptions about how trade effects the economy. Thanks to a growing body of academic research, we’re only just now beginning to understand the extent of the economic fallout, as well as the degree to which it has helped poison our politics. If you want to understand why Donald Trump’s furious message about trade resonates with so much of the public, and has helped him come within striking distance of defeating Hillary Clinton and taking the White House, you have to start with another Clinton’s choice at the end of his term.”
Waking the Sleeping DragonWhy does Donald Trump hammer Hillary Clinton on trade? In part, because of Bill Clinton’s last great legislative victory.
https://slate.com/business/2016/09/when-china-joined-the-wto-it-kick-started-the-chinese-economy-and-roused-a-giant.html
What a splendid team President Trump assembled.
America First has a wily champion at her helm 🇺🇸
You hit the nail on the head, Betsy. Splendid is a nice descriptor. President Trump chose very effective people for our Executive Branch.
The thing I’ve noticed about his economics/trade team specifically is that there are no egos, no public disagreements, no competition for headlines. It’s teamwork all the way while they all acknowledge President Trump as their leader every time any of them are having to give interviews. They present a united front…for those either here who are pot stirrers or with countries with whom they are negotiating.
And that’s powerful and clearly very effective.
All for one and one for all.
President Trump’s economic team are rock stars in my book.
I really like listening to Howard Lutnick speak.
He’s always smiling.
He and Kevin Hassett must be brothers from another mother 😁
One of the few sites that use ‘Chairman’. Thank you. Not a president.
BTW, hat-tip to GROK for this background:
Xi is “President of the People’s Republic of China, a largely ceremonial role, and is also the General Secretary of the Chinese Communist Party and Chairman of the Central Military Commission, which are the most powerful positions in the country. The term “Chairman” in this context typically refers to his role as Chairman of the Central Military Commission, as the title of “Chairman” for the head of state was abolished in 1982. Xi has consolidated power significantly, effectively making him China’s paramount leader.”
Lutnicks’ throw-away line, “we tried to help them, but it didn’t work out”… moving on.
Howard said with a big smile 🤠😂
It’s refreshing to have the adults back in charge. The adults do not get distracted by the tantrums and the riots. We can continue to MAGA while dealing with the children in the background.
Is it me or does Lutnick wear a permanent smile? The most upbeat man when I’ve seen him.
He is salesman!!! A people person that gets the order.
Believe he has Peace in his heart.
BLESSINGS
I’ll believe this when it happens in practice. We don’t need nor want CCP students or others in key areas in us colleges and universities.
Oh, I’m all about that bilateral life 😏 clean deals🧹, clear terms 🤓, and no Brussels buffet 🦀 of freeloaders slowing it down.
Multilateral? That’s just a group project where only one country does the work
He seems happy about it but he seems happy about everything. Makes me always feel good to see the smiles.
Lutnick’s “tried to help them out” line about Canada, UK and the EU that the Chinese turned down is really interesting. At the exact same time while Bessent & Lutnick were in London, Christine Lagarde was in China trying to undermine the U.S. negotiations in favor of the EU and she evidently went home empty-handed.
The EU are EUnuchs. China prefers competing with real men, most of which are in the USA.
IMO Lutnick’s “tried to help them out” may have been facetious cover at best.
U.S. Financial Sovereignty is “reportedly” in limbo, which “may” lead President Trump and Team to seek ANY and EVERY major source of Investment, including RELOCATION of EU Manufacturing to a “more hospitable” USA to escape the nasty consequences of Europe’s unfolding De-Industrialization and to limit the pace of De-Dollarization.
Same applies to Mexican and Canadian Auto Manufacturing, etc., including its Supply Chains.
MAGA Fabulous!!
Pass the Winnamins and Cheetos!
Sounds like job one is to develop a domestic magnet industry. Sounds like we had to make some serious concessions just to get back to square one, because China very skillfully leveraged its monopoly on these magnets.
From Lutnick’s summary, the negotiations were MAGNET-DOMINATED, with our Military-Industrial Complex in an apoplectic PANIC over impending Manufacturing & Supply-Chain SHUT-DOWNS … coming when our Stockpiles Cupboard is BARE … with concurrent SHUT-DOWNS of most of our Non-Military Industrial Production, feeding Motor-enabled Automation that’s so-essential to COMPETITIVE SUSTAINABILITY throughout every other Production Sector as well.
I don’t understand why any country wants to do business with China.
They’re evil as hell. After everything they have done to their own people and the Muslims and now the organ harvesting and Wuhan…they’re as bad as the Nazis were and no one says anything about it.
Where’s the U.N. when it really matters?
The CCP pays the UN to look the other way
Let’s not forget stopping the shipment of fentenyl precursors is not an option.
This man’s smiling attitude makes me feel like I can trust the process. His company went through he’ll on 9/11 and yet here he is,believing in President Trump’s financial plan and delivering the message with hope.
And…he rebuilt the company and helped families who lost everything on 9/11!
Continued BLESSINGS on him!
Howard would be an awesome guy to have a drink with.
Given the 2 LONG DAYS to “Delineate the Details” we need to see the Line-Item Agreement to recognize those DEVILS in the Detail.
Since the MAGNETS are getting approved for ONLY the USA,
• Does this give their USA Importers CONSTRAINTS that LIMIT and/or CONTROL with OBLIGATIONS over TRANS-SHIPMENTS to other countries, including WHERE & HOW they use them?
• Does that give their USA importers an opportunity to MARK-UP any Magnet Trans-Shipments?
• Does this give the USA Importers a GROWTH opportunity to disintermediate foreign Motor Manufacturers that manufacture elsewhere, for export to the USA or to other Markets or for their Domestic Markets?
Strange timing that, just as the conditions of the US/China deal are publicized, the news is full of the story of the Chinese lab tech getting caught bringing in biological material to the University of Michigan. Timing???
It doesn’t matter what the chinese agree to, they won’t abide by it. Signing their name(s) to an agreement has as much value to a communist as signing their name on a gum wrapper.
So China is holding other countries manufacturing hostage by withholding magnets? Why did the world allow communists to control any market. This is suicidal behavior.