CHICAGO - China’s pledge to buy U.S. farm goods based on “market conditions” during the Phase 1 trade deal signing ceremony on Wednesday added to doubts among farmers and commodity traders over Beijing’s lingering tariffs on U.S. exports.
Chinese Vice Premier Liu He, standing beside Trump, said on Wednesday that Chinese firms will buy American products “based on market conditions.” Ted Seifried, chief strategist with brokerage Zaner Group in Chicago, said a lack of specific purchase contracts was also disappointing. The agreement did not reduce tariffs on major U.S. agricultural exports to China, though Trump said tariffs would come off in a Phase 2 agreement. Pork is subject to a 68% duty even as China needs more imports because of the devastating outbreak of a fatal pig disease.
The doubts about this ‘deal’ continue to add up for it not being worth the paper it is written on; crisis and self inflicted wounds caused by Trump’s trade war will continue unabated contrary to propaganda spread by Trumpists.
Another bogus Trump trade deal that leaves the tariffs in place on Chinese goods, forcing Americans to continue to pay more. Add this stipulation and it's clear that Trump's reputation as The Great Deal maker was a PR sham all along.