Trump says he'll 'make it up' to farmers impacted by trade dispute

MONEY & MARKETS: China's President Xi moved to ease concerns about global trade — and financial markets love it

Editor's Note: John Schlafly co-wrote this column.

Automakers and technology stocks shot higher after President Xi Jinping said he would cut China's auto tariffs and improve intellectual property protection.

"The U.S.is losing $500 Billion a year, and has been losing Billions of Dollars for decades", Trump added. Those changes leap from the Trump administration's list of grievances, although Xi didn't mention his government's simmering standoff with the United States. "No, it sounds like STUPID TRADE - going on for years!"

While the current dispute has focused on trade, many other factors are in play, bringing out the bargaining qualities and transactional natures of the two leaders and their administrations.

There's also a tougher regulatory environment in the United States.

The value of deals announced in 2017 fell by more than 90% from the year before, according to joint studies by the National Committee on US-China Relations and the Rhodium Group. Losing Republican majorities in either the House or the Senate could be fatal for the president, whose chances in 2020 could be torpedoed by facts uncovered by a Democratically-led Congressional investigation into his business practices and ties with foreign governments. Normal trading privileges paved the way for China's entry into the World Trade Organization in 2001, despite its failure to meet basic requirements for membership. So instead this handout to China was passed as a non-treaty. The president has long had it in for China, but his instincts for self preservation will win out in the end (assuming he apprehends the best strategy for saving his own skin, which, in fairness, is to be determined). People pointed to that as a potential turning point in China's economic governance. Now China is rapidly moving up the food chain to sell us high quality products containing innovative technology that was created and developed in the United States. Both, however, have built their reputations on a robust form of nationalism, with Trump promoting "America First" and Xi identifying himself with the "Chinese Dream" of rising prosperity accompanied by muscular defence and foreign policies.

Bloomberg noted that China, the world's largest exporter, has always been the destination of choice for USA and European companies looking to outsource and offshore manufacturing, especially for labor-intensive consumer goods such as clothing, footwear and electronics. He promised progress on areas that are US priorities including opening China's banking industry and boosting imports but didn't address key irritants for Washington such as a requirement for foreign companies to work through joint ventures that require them to give technology to potential local competitors. Such efforts hold more promise than Trump's ever-escalating tariff threats.

The US president said on Tuesday after Xi's speech that he was "very thankful" for the Chinese leader's pledges on tariffs and the auto industry.

"Regardless of the extent of development, China will not subvert the current worldwide system, nor will it seek to establish spheres of influence", Xi said.

Even long-time free-traders are starting to see the light.

China will accelerate the opening-up of the insurance industry, ease restrictions on the establishment of foreign financial institutions in China and expand their business scope, and open up more areas of cooperation between Chinese and foreign financial markets.

Trump was born the son of a New York City real estate mogul and rose to the presidency on a populist wave after a career as a property developer and reality TV star.

The swing towards populist politics around the world continues to add strength to nationalist agendas and, in turn, act as a catalyst for trade frictions.

"This is a very important action by China".

"We want them to stop stealing our stuff". Technology and industrial companies also rose.

American voters, by a margin of 68 to 22 percent say a trade war would be bad.

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