Trump Wants to Funnel More Income Upward Through His China Trade Deal

[BeckyDem]

By
Dean Baker,
Truthout


January 20, 2020

Donald Trump is celebrating “phase 1” of his big trade deal with China. While corporate America seems to be joining the celebration (the stock market has been rising), it’s a safe bet that it is not likely to produce much of a benefit for ordinary workers.

First, it is worth refuting one of the main claims that this deal will be a boon to U.S. farmers. Trump apparently got commitments from China to buy large amounts of U.S. soybeans and other agricultural products. This is supposed to mean that farmers will be getting more money for their crops.

It is not entirely clear that we can enforce commitments that China’s leaders made. But more importantly, Trump’s claims show a serious confusion about the way markets work.


There is a world market for major agricultural products. If China buys more of these products from us, it will buy less from Brazil, Argentina and other major exporters. These countries will then be looking for new markets for their crops, which will be downward pressure on the world price, offsetting the upward pressure from China’s new purchases from the U.S.

https://truthout.org/articles/trump-wants-to-funnel-more-income-upward-through-his-china-trade-deal/

[lark]

1. drumpf understands nothing but self-profit.

If they aren't offerring him anything personally, it won't happen. He doesn't give a shit about America or it's farmers - just himself and the oligarchs.

[BeckyDem]

2. He is the personification of greed and has been his entire life.

[lark]

3. Greed and hate & lies are his 3 defining characteristics.

He's is not a human being but a pretend person. I was raised Evangelical but left the church at 17, so think he could be the anti-christ but probably not smart enough.

[BeckyDem]

4. I agree he is a very strange man, he is not your standard Republican type crook.

He seems removed from humanity all together.