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    Trump Trade Policy Tag

    President Donald Trump is considering tariffs on French wines in response to the digital tax imposed by Paris that disproportionately targets U.S. tech companies. Earlier this month, the French Senate approved a 3 percent tax on sales generated from digital services in France by companies with more than 25 million euros in French revenue and 750 million euros worldwide.

    The United States was "attacking China’s core economic interests," Chinese state media said. By making a number of "arrogant demands," Washington was "trying to invade China’s economic sovereignty and force China to damage its core interests," Chinese state news agency Xinhua said Saturday. The comments came amid U.S. demands to restrict the role played by powerful Chinese state-owned enterprises (SOEs) that dominate all sectors of the country's economy and receive favored treatment from the state.

    Chinese officials are currently planning to send their top trade negotiator to Washington, D.C., next month for trade talks designed to end the tariff battle between the two nations. Ahead of the meetings, the Chinese are appearing to leverage their influence with North Korea to optimum benefit. North Korea's Chairman Kim Jong-un was in Beijing this week, and made significant statements related to promises made during June's Singapore Summit.

    In a meeting between President Trump and China's Xi Jinping, Trump agreed to delay the increase in tariffs scheduled for January 1, 2019 while trade talks continue. The tariffs in question were set to jump from 10% to 25%, but this increase will not take place while the two countries engage in further trade talks.  The talks are currently expected to last 90 days.

    Contrary to the mainstream media reporting, President Donald Trump may be winning the trade war with China, according to a leading European think tank. The tariffs placed by the Trump administration could narrow the U.S. trade deficit with China by 17 percent, a recent paper published by Munich-based EocnPol Europe projects. "The US import tariffs will increase the prices of the affected Chinese products in the United States and decrease the profit margin of Chinese exporters," the fifteen page report says. "This might force some Chinese firms to stop exporting to the US, or even force them completely out of the market."

    NAFTA is now called the U.S.-Mexico-Canada Agreement, or USMCA, after the three countries reached a new deal late Sunday night. From The Wall Street Journal:
    The biggest impact is expected to be on the region’s largest industry, autos, requiring a greater portion of vehicles to be made in North America and with high-wage labor in the U.S. and Canada. The new deal for the first time sets rules for financial-services and digital businesses that have emerged since the bloc was created, aimed at pleasing sectors from drugmakers to Wall Street.
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