On Trump’s New China Trade Deals — Veem CMO/CRO Frederick Crosby Speaks with Inc.
May 18, 2017
Zoë Henry of Inc. Magazine caught up with Veem CMO/CRO, Frederick Crosby on the White House’s recently released 100-day global trade rules action plan—which look very different from Trump campaign promises. The plan’s provision for new China trade deals and an interest in renegotiating rather than ending NAFTA look very different from Trump campaign promises to “drop the hammer on trade”
“The saber rattling is stopping,” Frederick told Inc.”The threat that we’re going to be charged more expenses, that there will be more complexity [with increased tariffs,]—all of that is diminishing.” Indeed, during the campaign, the new China trade deals Trump promised were ‘rattling’, starting with a 45% tariff on Chinese imports.
But the new China trade deals actually coming out of the White House today are good news for entrepreneurs across the U.S., and a 'welcome end to saber rattling.' American businesses that rely on Chinese suppliers or offer products to the $4.2 trillion Chinese consumer economy can finally get on with business.
As the article notes, the deal itself is modest focusing on specific industries like beef (we can start exporting to China) and poultry (China can start exporting to the U.S.). Interestingly enough, it also allows American payment service firms to enter the Chinese market.
I’ve only shared the highlights—there’s more good stuff there. Read the full article here.