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Thu Mar 14, 2019, 10:40 AM

Gary Cohn: Trump is "desperate" for a trade agreement with China

President Trump's former director of the National Economic Council Gary Cohn let his feelings about the president's tariff battle with China be known in an interview on Freakonomics Radio released Wednesday night.

"When you put tariffs on goods that people in the United States consume every day, it's a consumption tax. So all the tariffs did is they made products that Americans were going to buy more expensive. And in fact we got the final trade data numbers ... And lo and behold , we hit an all-time record-high trade deficit globally, and with China."

...

Cohn also said Trump is “desperate right now” for a trade agreement with China.

"The president needs a win. The only big open issue right now that he could claim as a big win that he’d hope would have a big impact on the stock market would be a Chinese resolution. Getting the trade deficit down I will never say is easy, but of the issues on the table, that's relatively easier. Getting the intellectual property, the forced technology transfer and the market access — much more difficult."

https://www.axios.com/gary-cohen-trump-trade-war-china-bf4b87d4-6a81-4e4f-8b32-3e9df9574764.html

Wars not won in a few months tend to settle down into stalemates. The Prussians defeated the French decisively in 6 months in 1870. But after the failure of the Schlieffen Plan in 1914 came trench warfare.

Likely the US versus China and the US versus everyone else trade wars now will also devolve into protracted conflicts.

Xi seems to be in no hurry to come to Mar a Lago.

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Response to Troll2 (Original post)

Thu Mar 14, 2019, 11:42 AM

1. China's economy is tanking

They need us more than we need them. Negotiation Tactics 101.

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Response to Bob the Bilderberger (Reply #1)

Thu Mar 14, 2019, 12:09 PM

3. If Trump can't clear the soybean inventory, he'll lose a lot of formerly red agricultural states.

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Response to Troll2 (Reply #3)

Thu Mar 14, 2019, 12:24 PM

4. No problem, they can sell those inventories to the soy-bois here who always delete their postings...

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Response to Troll2 (Original post)

Thu Mar 14, 2019, 11:44 AM

2. t's cute the morons who believe China's trade war against the US started under Trump................

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