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In the first sign since all the “Trade War” talk began between Donald Trump and the whole nation of China, it seems Chinese leadership is willing to change some policies. China’s President Xi Jinping, while speaking at the Boao Forum for Asia, gave the first indication publicly that his nation is willing to lower barriers to United States goods being imported and of protecting intellectual property rights (IPRs).
According to Telegraph In The United Kingdom, the Chinese are even willing to strike a deal with cars.
President Xi Jinping has promised to cut Chinese tariffs on car imports and ease restrictions on foreign ownership in its car industry amid an escalating tariff spat with Washington.
In a speech on Tuesday at a business conference, Mr. Xi made no direct mention of the dispute with President Donald Trump but pledged to open China’s markets further and improve conditions for foreign companies.
Mr. Xi said Beijing will “significantly lower” tariffs on car imports this year and ease restrictions on foreign ownership in the car industry “as soon as possible”.
This news would have, in any other circumstance, rallied the markets and been a sure-fire WIN with fun talking points from 1600 Pennsylvania. Yet the news from yesterday of the F.B.I. seizing property from President Trump’s personal lawyer, Michael Cohen, probably will put a damper on that enthusiasm.
Also, his comments before a national security meeting on how to deal with Syria might not have been all that helpful. Trump Reacts To Raid Of Longtime Personal Lawyer’s Offices (Video)
This does prove though that Trump may have some sort of knack for rattling cages to get parties at least talking about getting a better deal. His style of negotiation though is somewhat like watching bumper cars with no seatbelts for the drivers. You never know what body, policy or statement will get thrown where.
However, if this does come to fruition and tariffs are lowered for American goods going into China, this will be a huge win for the United States overall.
Plus, if American intellectual property rights are finally going to be protected in one of the largest and fastest growing markets in the world, this will be a significant development and one lobbied for under numerous American Presidents.
So, in the first volley of the United States vs Everyone in a potential trade war, we scored the first point.
I can’t wait to see how we do next against those rascals to the north.