Trade

Report: Trump’s ‘Greatest Deal’ Could Be Pushed Back

JM Ashby
Written by JM Ashby

Trump regime officials have publicly implied that the terms of Trump's "greatest and biggest deal ever" are all but complete, but this exclusive reports from Reuters suggests that may not be the case.

Whether or not Trump and Chinese President Xi Jinping would sign a deal this month was called into doubt after Chilean President Sebastian Pinera canceled the Asia-Pacific Economic Cooperation (APEC) summit scheduled for November 16th.

Reuters reports that Chinese and American officials haven't agreed on a new venue yet and the terms of the deal are also still up in the air.

WASHINGTON (Reuters) - A meeting between U.S. President Donald Trump and Chinese President Xi Jinping to sign a long-awaited interim trade deal could be delayed until December as discussions continue over terms and venue, a senior official of the Trump administration told Reuters on Wednesday.

The official, who spoke on condition of anonymity, said it was still possible the “Phase One” agreement aimed at ending a damaging trade war would not be reached, but a deal was more likely than not. [...]

The official said China was believed to see a quick deal as its best chance for favorable terms, given pressure Trump is facing from a congressional impeachment inquiry as he seeks re-election in 2020.

The most interesting part of this report is a Trump regime official saying the Chinese want to sign a deal soon while Trump is distracted by his impeachment.

I don't know if that's true, but it tells me that at least some officials at the White House believe they're getting hoodwinked in a deal that isn't as great as advertised by their boss Trump. They're not so sure it's the 'greatest deal ever,' but they also recognize that the substantive terms of the deal are not as important as the politics of it are for Trump.

Whether it happens this month or next, I believe Trump and Jinping will sign some kind of "truce" agreement that won't move the economic needle in any significant way unless a rally on Wall Street is all that you're hoping for.

  • muselet

    I wonder if that anonymous senior administration official is Peter Navarro.

    –alopecia

  • David Greenberg

    Of course that’s what he’s looking for. Fortunately for him, the turds on Wall Street are so anxious for any opportunity to churn stocks, they are totally disinterested in whether there is any truth to anything he says. If things go bad, they will just see another opportunity to churn.