President Trump said Friday that his administration had reached a "substantial deal" on trade with Beijing but that the specific details remain to be worked out.
The deal involves China making $40 billion to $50 billion in additional purchases of U.S. farm goods while the White House stops a tariff hike previously scheduled to go into effect next week. Agreements were made on intellectual property and currency issues as well, Trump said.
“We've agreed in principle to just about everything. Now we are getting it papered," Trump told reporters. He said the U.S. and Beijing would meet again in five or six weeks in Chile, by which time they expected the details to be ironed out.
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World wide all oil is traded in US dollars called petro-dollars and China would love to change that to Chinese currency. If that were to happen suddenly the dollar would become almost worthless.
ReplyDeleteDemocrats will not pass it.
ReplyDelete