"Incredible" deal with China? Bullshit!
BY BESS LEVIN
DECEMBER 4, 2018 12:46 PM
At the conclusion of the G20 summit in Argentina, Donald Trump boasted to reporters that he’d managed to strike an “incredible” trade deal with Chinese president Xi Jinping—one that would go down “as one of the largest deals ever made.” Among other major feats, the ex-Miss Universe proprietor claimed he’d convinced the Chinese to cut tariffs on U.S.-made cars, which would have been a legitimate coup. This, of course, turned out to be so far from the truth that not even the president’s own White House would back it up. China, too, said nothing about lowering tariffs, and Wall Street analysts almost immediately began issuing notes to clients calling ...
Goldman Sachs, for one, noted that “the actual amount of concrete progress made at this meeting appears to have been quite limited.” Morgan Stanley pointed out that Trump essentially “agreed to pause tariffs without any meaningful concessions on the toughest negotiating points.” And JPMorgan all but called the president a liar and a fraud, writing: “It doesn’t seem like anything was actually agreed to at the dinner and White House officials are contorting themselves into pretzels to reconcile Trump’s tweets (which seem if not completely fabricated then grossly exaggerated) with reality.”
... on Tuesday, not even the gang at Fox & Friends, a docile group of seals paid to bark and clap approvingly at everything Trump does, were going along with the narrative that his dinner with Xi had resulted in a massive win for America ...
https://www.vanityfair.com/news/2018/12/trump-admits-his-incredible-deal-with-china-is-bullshit
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