US willing to face ‘repercussions’ from China on trade — Mnuchin
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Started by metmike - April 14, 2019, 5:50 p.m.

US willing to face ‘repercussions’ from China on trade — Mnuchin

"The US is willing to face “repercussions” from China if it fails to comply with the terms of a likely deal to end the trade war between the world’s two largest economies, Steven Mnuchin, the US treasury secretary said, suggesting the US will meet Beijing’s demand for a “two-way” system to enforce the agreement.  Speaking on Saturday in Washington, Mr Mnuchin said that both the US and China would be making “certain commitments” in the deal that would have to be respected and enforced on both sides of the Pacific Ocean."

By joj - April 15, 2019, 8:21 a.m.
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I was reading an article about the progress in negotiations and the final sticking point seemed to be enforcement mechanisms.  The US proposal is that if China didn't comply (who would be the judge of that was not specified) then the US would be allowed to reimpose tariffs.  Seems fair.  But then the next sentence I had to read twice to believe I hadn't misread it.  If at that point the US reimposed tariffs, then China would NOT be allowed to reimpose tariffs.  Huh???

Mind you, this was an article about how imminent a deal seemed to be.  I can't imagine any sovereign country accepting that kind of deal.