On Trump’s New China Trade Deals — Veem CMO/CRO Frederick Crosby Speaks with Inc.

Trade Rules and Campaign Promises

Zoë Henry of Inc. Magazine caught up with Veem 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.

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.

Tariff Relief

We're giving $10,000 to businesses affected by tariffs. Let us help you, here.

* This blog provides general information and discussion about global business payments and related subjects. The content provided in this blog ("Content”), should not be construed as and is not intended to constitute financial, legal or tax advice. You should seek the advice of professionals prior to acting upon any information contained in the Content. All Content is provided strictly “as is” and we make no warranty or representation of any kind regarding the Content.