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Trump promises farmers that China trade deal to be good for them

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Trump promises farmers that China trade deal to be good for them

By Steve Holland

 

2020-01-20T010835Z_1_LYNXMPEG0J01Y_RTROPTP_3_USA-TRUMP.JPG

 

U.S. President Donald Trump gestures to the audience at the American Farm Bureau Federation's Annual Convention and Trade Show in Austin, Texas, January 19, 2020. REUTERS/Kevin Lamarque

 

AUSTIN, Texas (Reuters) - President Donald Trump sought on Sunday to assure American farmers and ranchers hit by a protracted tariff war with China that a trade agreement he signed with Beijing will lead to major purchases of U.S. agricultural products.

 

Trump's remarks in Texas, a state he won in 2016 and will need again in November's election, had all the hallmarks of a political stump speech, with a slam at Democrats trying to remove him through impeachment and a wish he could wear a cowboy hat in Washington.

 

He began his remarks to the annual American Farm Bureau Federation convention in Austin by waving a copy of a Farm Journal poll that said he had wide support among farmers and ranchers.

 

Trump said the initial trade deal he signed with China last Wednesday would be a boon for farmers, whom he thanked for sticking with him after he twice had to allocate multibillion-dollar bailouts for producers targeted by Chinese tariffs.

 

"You stayed in the fight," said Trump. "You were always with me. You never even thought of giving up and we got it done."

 

His Senate impeachment trial is set to begin in earnest on Tuesday.

 

"By these radical-left lunatics I get impeached. But that’s OK, the farmers are sticking with Trump," he said.

 

The Phase 1 trade deal with China was meant to reduce tensions after 18 months of a tit-for-tat tariff war between the world's two largest economies that has hit global growth.

 

It included a pledge by China to purchase at least an additional $12.5 billion worth of agricultural goods in 2020 and at least $19.5 billion over the 2017 level of $24 billion in 2021.

 

Analysts have said a number of issues remain unresolved. The Phase 1 agreement will leave in place 25% tariffs on $250 billion of Chinese industrial goods and components used by U.S. manufacturers, and China's retaliatory tariffs on over $100 billion in U.S. goods.

 

Trump told the farmers he would vigorously enforce the trade deal to make sure China holds up its side of the agreement.

 

"I think it’s going to work out and I think China is going all out to prove that the agreement that we signed is a good agreement," he said.

 

Trump also reminded the farmers that he had gained passage by Congress of a new trade deal among the United States, Mexico and Canada that will replace the 1994 North American Free Trade Agreement. He said he would sign the deal soon, probably in a White House ceremony.

 

(Reporting by Steve Holland; Editing by Peter Cooney)

 

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-- © Copyright Reuters 2020-01-20
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Whatever happened to free market capitalism. 

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Can the farmers put that next to the much better health- care they got from Trump?

Or is that more like the glorious border wall, that certainly is not a dangerous pipe- dream and is 100% paid for by Mexico?

Or can they finance a "welcome home"- dinner with all that money, when their sons come back from all the wars he ended?

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6 hours ago, Chomper Higgot said:

I’m sure American farmers have twigged that the promises Trump makes them are made of the stuff they spread on fields.

The trumps approval ratings amongst farmers is (apparently) at its highest, so perhaps not.... maybe they like the taste/smell of the stuff they spread on the fields

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6 minutes ago, jany123 said:

The trumps approval ratings amongst farmers is (apparently) at its highest, so perhaps not.... maybe they like the taste/smell of the stuff they spread on the fields

There is still an image of American farmers being Ma and Pa Kettle. The real "farmers" consist of agribusiness and large scale outfits like these: https://www.wga.com/

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Don’t trust China. Look at the militarized Spratly Islands.  Look at the bases under construction in Cambodia.  Here in Thailand, they have taken Mekong River flow, dumped USD into Thai markets which in turn brings USD and paired western currencies down. And the inverse relationship holds true today: Yuan up/USD down.

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12 minutes ago, Isaan sailor said:

Don’t trust China. Look at the militarized Spratly Islands.  Look at the bases under construction in Cambodia.  Here in Thailand, they have taken Mekong River flow, dumped USD into Thai markets which in turn brings USD and paired western currencies down. And the inverse relationship holds true today: Yuan up/USD down.

Are there more Chinese bases out there.... or more American bases?

 

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29 minutes ago, jany123 said:

Are there more Chinese bases out there.... or more American bases?

 

The 7 Fleet with a continuous forward presence in the Indo Asia Pacific region and with the largest numbered vessels need those bases. 

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