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Thread: G-7 summit: Trump strikes 'billion-dollar' trade deal with Japan

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    G-7 summit: Trump strikes 'billion-dollar' trade deal with Japan

    A deal is all but sealed with Japan.

    President Donald Trump Opens a New Window. confirming, "it’s a very big transaction and we’ve agreed in principle," while speaking beside Prime Minister Shinzo Abe in France after a meeting at the G-7 summit Opens a New Window. .

    Trump said the prime minister agreed to purchase some of U.S. farmers’ corn, blaming China Opens a New Window. for the excess product on farmers' hands.
    “This is a tremendous deal for the United States, really a tremendous deal for our farmers and agriculture,” along with e-commerce, per the president.

    More #winning for our country! On top of the Japanese deal and China now willing to come to the table for more trade talks, President Trump has made huge trade deals with Germany and GB.

    The White House@WhiteHouse
    "We have excess corn in various parts of our country with our farmers because China did not do what they said they were going to do. And Prime Minister @AbeShinzo, on behalf of Japan, they're going to be buying all of that corn." — President

    G-7 summit: Trump strikes '''billion-dollar''' trade deal with Japan | Fox Business

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    Re: G-7 summit: Trump strikes 'billion-dollar' trade deal with Japan

    First, I know Merkel tried to explain this to Trump at least 11 times that you can't make trade deals with Germany, only the EU, but I might as well try to point this out to you again so that maybe it'll stick.

    Second, we already had a trade deal with Japan through the TPP, which Trump torpedoed, so what is so different about this one? Be specific. All we heard was high-pitched screeching when essentially the same deal was made with Japan under Obama, but somehow this is supposed to be totally different.

    Trump and Abe herald US-Japan deal in shadow of China trade war | World news | The Guardian
    The US and Japan agreed in principle on Sunday to core elements of a trade deal that Donald Trump and Shinzo Abe said they hoped to sign in New York next month.
    White House insists Trump not having second thoughts on China trade war

    The agreement would cool a trade dispute between the two allies as a trade war between the US and China escalates. US trade representative Robert Lighthizer said the deal covered agriculture, industrial tariffs and digital trade. Auto tariffs would remain unchanged.

    Trump said Japan had agreed to buy excess US corn that is burdening farmers as a result of the tariff dispute between Washington and Beijing. Abe referred to a potential purchase of the corn and said it would be handled by the private sector.

    “It’s a very big transaction, and we’ve agreed in principle. It’s billions and billions of dollars. Tremendous for the farmers,” Trump told reporters during a joint announcement with Abe at the G7 meeting in France.

    It’s a very big transaction, and we’ve agreed in principle. It’s billions and billions of dollars
    Donald Trump
    Trump is eager to help out farmers who have been hurt by the trade dispute with China, particularly in political swing states that he needs to support him in his bid for re-election in 2020.

    The Japanese leader said more work remained, but expressed optimism that it would be finished by the time of the United Nations General Assembly next month.

    “We still have some remaining work that has to be done at the working level, namely finalizing the wording of the trade agreement and also finalizing the content of the agreement itself,” he said, through an interpreter.

    “But we would like to make sure that our teams … accelerate the remaining work for us to achieve this goal of realizing the signing of the agreement on the margins of the UN General Assembly at the end of September.”

    Lighthizer noted that Japan imports about $14bn worth of US agricultural products and said the agreement would open up markets to more than $7bn of such products. He said beef, pork, wheat, dairy products, wine and ethanol would benefit.

    “It will lead to substantial reductions in tariffs and non-tariff barriers across the board,” he said. He did not go into detail about the industrial and e-commerce aspects of the deal.

    Trump, who this week said he had ordered US companies to start looking for alternatives to doing business in China, seemed to dismiss Abe’s emphasis that the Japanese private sector would handle the purchases of excess US corn.

    “The Japanese private sector listens to the Japanese public sector very strongly … It’s a little different than it is in our country perhaps,” Trump said.


    Abe seemed to want to hedge against Trump’s suggestion that the corn purchases were a done deal, but he said insect pests had affected some agricultural products in Japan, creating a need to buy certain products.


    “We believe that there is a need for us to implement emergency support measures for the Japanese private sector to have the early purchase of the American corn,” he said. “So that’s why, against such backdrop, I do think that there is a possibility for us to cooperate to address this issue.“
    So in summary:

    - The deal isn't signed until next month
    - It mostly only reduces the new tariffs that Trump put on Japan arbitrarily, so a partial reduction of the damage he did
    - Trump is hoping Japan will buy a lot of corn because many of his voters are suffering under his trade policies
    - Abe repeated over and over that there is no agreement for Japan to buy corn, just that it's an option in the free market and someone might
    - Trump thinks the Japanese government will now tell private Japanese companies to buy US corn even though Abe says they won't.


    I guess I'm missing the groundbreaking deal making in here. Where's the beef?
    Last edited by RabidAlpaca; 08-26-19 at 12:11 PM.

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    Re: G-7 summit: Trump strikes 'billion-dollar' trade deal with Japan

    Quote Originally Posted by RabidAlpaca View Post
    First, I know Merkel tried to explain this to Trump at least 11 times that you can't make trade deals with Germany, only the EU, but I might as well try to point this out to you again so that maybe it'll stick.

    Second, we already had a trade deal with Japan through the TPP, which Trump torpedoed, so what is so different about this one? Be specific. All we heard was high-pitched screeching when essentially the same deal was made with Japan under Obama, but somehow this is supposed to be totally different.
    Hillary Clinton would have torpedoed TPP as well just FYI.
    Reality is merely an illusion, albeit a very persistent one. Albert Einstein

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    Re: G-7 summit: Trump strikes 'billion-dollar' trade deal with Japan

    Quote Originally Posted by RabidAlpaca View Post
    First, I know Merkel tried to explain this to Trump at least 11 times that you can't make trade deals with Germany, only the EU, but I might as well try to point this out to you again so that maybe it'll stick.

    Second, we already had a trade deal with Japan through the TPP, which Trump torpedoed, so what is so different about this one? Be specific. All we heard was high-pitched screeching when essentially the same deal was made with Japan under Obama, but somehow this is supposed to be totally different.



    So in summary:

    - The deal isn't signed until next month
    - It mostly only reduces the new tariffs that Trump put on Japan arbitrarily, so a partial reduction of the damage he did
    - Trump is hoping Japan will buy a lot of corn because many of his voters are suffering under his trade policies
    - Abe repeated over and over that there is no agreement for Japan to buy corn, just that it's an option in the free market and someone might
    - Trump thinks the Japanese government will now tell private Japanese companies to buy US corn even though Abe says they won't.


    I guess I'm missing the groundbreaking deal making in here. Where's the beef?
    Why don't you tell Abe he made a bad deal with Trump? Japan calls the deal with the US "very valuable"....

    eta: Merkel, Trump talk trade. I'm just reporting the news...

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    Re: G-7 summit: Trump strikes 'billion-dollar' trade deal with Japan

    Quote Originally Posted by trixare4kids View Post
    Why don't you tell Abe he made a bad deal with Trump? Japan calls the deal with the US "very valuable"....
    Oh wow, I didn't realize we're judging trade deals now by the anecdotal statements of foreign powers. I laid out all of the facts and asked you what is so amazing about this deal and you can't provide one single thing. If signed, it'll reduce SOME of the tariffs Trump imposed, and it paves the way for Japan MAYBE deciding to buy US corn, which is only necessary because of Trump's tariffs decimating American farmers.

    Quantify for us what added-value is in this deal over just undoing some of what Trump did.

    Quote Originally Posted by Bucky View Post
    Hillary Clinton would have torpedoed TPP as well just FYI.
    Reply #2 and the cultists have already tried to make this about Hillary. At least you're consistent. Immature and unable to string together basic arguments of your own, but consistent.

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    Re: G-7 summit: Trump strikes 'billion-dollar' trade deal with Japan

    Quote Originally Posted by Bucky View Post
    Hillary Clinton would have torpedoed TPP as well just FYI.
    Oh but that's different...

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    Re: G-7 summit: Trump strikes 'billion-dollar' trade deal with Japan

    Quote Originally Posted by RabidAlpaca View Post
    Oh wow, I didn't realize we're judging trade deals now by the anecdotal statements of foreign powers. I laid out all of the facts and asked you what is so amazing about this deal and you can't provide one single thing.
    Sure, I have...It's laid out in the O/P, complete with source which explains the trade deal in full.

    You just are too stubborn to admit that this will be both a great deal for US and also for Japan.
    I'm not here to convince people who don't want to see Trump succeed, and would rather see our country fail at trade talks...
    Move on if you can't handle the good news between our country and Japan.

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    Re: G-7 summit: Trump strikes 'billion-dollar' trade deal with Japan

    Quote Originally Posted by Bucky View Post
    Hillary Clinton would have torpedoed TPP as well just FYI.
    And it would have been a mistake for her to do so. "But Clinton" argument are weak to begin with, and yours was even weaker than usual.
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    Re: G-7 summit: Trump strikes 'billion-dollar' trade deal with Japan

    Quote Originally Posted by trixare4kids View Post
    Sure, I have...It's laid out in the O/P, complete with source which explains the trade deal in full.

    You just are too stubborn to admit that this will be both a great deal for US and also for Japan.
    I'm not here to convince people who don't want to see Trump succeed, and would rather see our country fail at trade talks...
    Move on if you can't handle the good news between our country and Japan.
    Literally the only detail about the deal you listed in the OP was about selling lots of corn, which as was pointed out to you, this deal does not do, and the only reason it would be necessary is because Trump ****ed them in the first place. Then you made up some completely fictitious "deal with Germany" that can't exist because you can not make deals with Germany. It's like you lie, lie, lie and lie then when someone points out your lies with sourced and well explained facts, you just ignore it altogether.

    So what was that secret trade deal with Germany, and what SPECIFICALLY in this deal benefits America past undoing what Trump did?

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    Re: G-7 summit: Trump strikes 'billion-dollar' trade deal with Japan

    Quote Originally Posted by trixare4kids View Post
    Why don't you tell Abe he made a bad deal with Trump? Japan calls the deal with the US "very valuable"....

    eta: Merkel, Trump talk trade. I'm just reporting the news...
    Most countries think a deal where they don't give up anything and get something is valuable. The question is not whether it is valuable to Japan, but to the US.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham
    Iíve always believed that America is an idea, not defined by its people but by its ideals. - Lindsey Graham

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