Report: China Agrees to Concessions to Avoid Trade War with U.S.

Throughout the 2016 presidential election, then-candidate Donald J. Trump frequently criticized China for unfair trade practices.

In a high-profile speech last June, Trump pledged to label China a currency manipulator upon taking office, telling an audience “I am going to instruct my Treasury Secretary to label China a currency manipulator. Any country that devalues their currency in order to take advantage of the United States will be met with sharply. And that includes tariffs and taxes.”

Trump also criticized China’s entrance into the World Trade Organization, calling it the “greatest jobs theft in history.”

Well, it appears as though President Trump’s tough talk on China is paying off, as the Communist regime is reportedly agreeing to several economic concessions regarding trade with the United States, stemming off a potential trade war.

From Western Journalism:

The two concessions offered by Jinping will partially remove two of the biggest barriers that China has erected against U.S. trade.

Most non-nationals wishing to open a business in China must partner with a Chinese company. The concessions in the financial sector may change this rule.

Heavy tariffs have also been placed on U.S. agricultural products, and taking in more U.S. beef is meant to help level this imbalance.

The concessions will not affect the fact that China still runs the largest trading surplus with any of the United State’s international partners. Chinese imports totaled $463 billion in 2016, while the U.S. exported $116 billion to China.

The U.S.-China Business Council issued a report last August stating that the U.S. exports enjoy “a very small share of China’s overall market … [and] should be even bigger.”

In addition to the recent Chinese concessions, President Trump has stressed that trade with the Communist nation will undoubtedly improve once the “North Korean Problem” is solved:

President Trump took to Twitter to express this viewpoint:

Do you believe that President Trump will be able to squeeze more concessions out of China? Share your thoughts below! 

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