News Report: Currency on the Table in the U.S.-China Trade Talks

Matthew McMullan

Matthew McMullan Communications Manager, Alliance for American Manufacturing

The U.S.-China trade talks continue. There’s a deadline coming up on March 1, when the trade-war timeout is due to end, and U.S. tariffs are to shoot up from 10 percent to 25 percent on $200 billion worth of Chinese products.

President Trump, meanwhile, is starting to float the idea that March 1 isn’t a hard date … which suggests there’s progress being made toward a larger deal. It could also be problematic; the president’s chief negotiator, for instance, doesn’t think giving up this key piece of leverage is a great idea.

But! Another bit of news has leaked out: The two sides are working out an agreement that would govern currency manipulation. Bloomberg reports:

The U.S. is asking China to keep the value of the yuan stable as part of trade negotiations between the world’s two largest economies, a move aimed at neutralizing any effort by Beijing to devalue its currency to counter American tariffs, people familiar with the ongoing talks said.

Currency manipulation has been an American trade complaint against China for years, and some have argued that a deal that doesn’t include a currency rule will ultimately prove to be a disappointment.

Well, it looks like it's still on the table. So I guess it's just like the most talkative president in decades says:

"We are asking for everything that anyone has ever suggested. These are not just 'let's sell corn or let's do this' – it's going to be selling corn but a lot of it – a lot more than anyone thought possible."

 

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Reposted from AAM

Posted In: Allied Approaches, From Alliance for American Manufacturing

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He Gets the Bucks, We Get All the Deadly Bangs

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

National Rifle Association chief Wayne LaPierre has had better weeks. First came the horrific early August slaughters in California, Texas, and Ohio that left dozens dead, murders that elevated public pressure on the NRA’s hardline against even the mildest of moves against gun violence. Then came revelations that LaPierre — whose labors on behalf of the nonprofit NRA have made him a millionaire many times over — last year planned to have his gun lobby group bankroll a 10,000-square-foot luxury manse near Dallas for his personal use. In response, LaPierre had his flacks charge that the NRA’s former ad agency had done the scheming to buy the mansion. The ad agency called that assertion “patently false” and related that LaPierre had sought the agency’s involvement in the scheme, a request the agency rejected. The mansion scandal, notes the Washington Post, comes as the NRA is already “contending with the fallout from allegations of lavish spending by top executives.”

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Corruption Coordinates

Corruption Coordinates