In a media briefing after a second day of talks with U.S. negotiators on Sunday, Chinese Vice Premier He Lifeng said trade talks with the U.S. “achieved substantial progress and reached important consensus.”
China said that it will release a joint statement with the U.S. on Monday regarding the agreement reached on Sunday.
“The two sides agreed on establishing a consultation mechanism for trade and economic issues, identify the lead persons on each side, and will carry on further consultations relating to trade and economic issues of their respective concerns,” the Chinese vice premier said.
In reality a 125% tariff isn’t possible. An item with a $10 landed cost would suddenly cost like $22.50 so if the item sold to the end user for $13 before, now it will be $25.50 just to keep a $3 profit margin. Now your up front investment has doubled which drains cash flow. Your sales will drop.
It’s essentially a trade embargo. It’s not possible to enact in reality.
Translation: “We both agree: Trump should not be negotiating this”.
Shelves will be empty in 2 weeks. Should be interesting seeing the pretzels and knots the Cult of Stupid tie themselves into to explain that shit.
The long dark shadow of old crooked Joe
If you think it’s bad now wait till you see what Joe has planned for the next 3 years… he has set up roadblocks every step of the way to make Trump seem incompetent and like he doesn’t even have a plan!
Incredible when we all know he’s been a vegetable for decades now!
god, now you’ve got my imagination working…
not only are they going to blame him for the “mess” that trump inherited, they’re going to punish him for it. they’re just waiting until after november. fucking chills, man.
A concept of a deal, you might say.
That’s not a deal that’s an agreement on the pre-conditions necessary to begin talking about a deal.
A concept of a deal
Same thing with the UK deal…it’s just a framework but nothing is signed or agreed upon.
So to translate it to Russian for the US right wing, they already have got the absurdly long table, but Putin is still laughing about being late from the meeting with them in a talkshow instead of coming to talk.
Sounds like a “maybe” to me and a “maybe” in Chinese culture means a “no”.
