(NationalSentinel) Trade:Â President Donald J. Trump’s first meeting with Chinese President Xi Jinping was expected to be tense given the gauntlet the former laid down during his campaign: Trade conditions with China, which regularly generates massive deficits with the U.S.,Â were going to change.
And while massive trade deficits aren’t likely to disappear after the first Trump-Xi meeting, our side appears to have already gotten a better deal, as reported by theÂ Washington Examiner:
The Financial TimesÂ reportedÂ China offered to drop the ban on American beef, in place since 2003, and offered to allow foreigners to have majority stakes in Chinese investment and securities companies.
The former concession from the Chinese would allow American cattle producers to have access to a massive new market, while the Financial Times reported the latter is something that was discussed under former President Barack Obama but was received positively by Trump last week.
Trump and Xi met for two days of talks at Mar-a-Lago in Florida last week. Trump tweeted that he and Xi made progress on a personal relationship level but only time would tell about how the country’s trade relationship would go.
It probably didn’t hurt that Trump, during his meeting with Xi, authorized a massive Tomahawk missile strike against a Syrian government airbase in retaliation for using poison gas against civilians and rebels, but time will tell. There are still issues involving the U.S. and China, most notably Beijing’s outsized claims to the South China Sea, militarization of a number of man-made islands throughout the region, and of course, that massive trade deficit.
But for sure, it appears that Trump has made some initial progress that he and Xi can build upon in the future. Now, about that North Korea problem…