Dan Celia: China Doesn’t Care About a U.S. Trade Deal or Election, and Grain Import Stance Proves It
January 7, 2020
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia is noting this morning that China announced yesterday that it plans to keep grain import quotas unchanged, stating it is a global quota and it wouldn’t be fair to increase just one country.
“As if China cares about what is fair,” Celia said. “This is despite promise to buy more American grain. Now, that doesn’t sound like an agreement on Phase 1 that the president and some of the commerce ministers in China have been touting. I’ve been saying for over a month that we shouldn’t be overly excited about any possibility of a Phase 1 agreement. It is likely a stall tactic by China. As we are living month-to-month for this trade agreement, China is thinking about the next decade. They could not care less about the next U.S. election cycle. I hate to say it, but everything I have said so far for the past year in all these negotiations has been what has happened. I hope I am wrong this time.
“The scenario right now as I see it is this,” Celia continued. “As China begins to back away from what looks like was agreed to as far as agricultural imports, we can count on President Trump putting tariffs right back to where they were, possibly putting tariffs on the remaining $300 billion worth of products, which was supposed to happen on December 15. Then we will be firmly back to square one. The Communist dictator regime of China doesn’t care about whether a trade deal will benefit the U.S or make President Trump look good in the upcoming election. It’s unclear why China is stalling, and I shudder to think what that reason might be. But all the enthusiasm and excitement over this Phase 1 trade deal may be out the door by the end of this week. This president is one of the few presidents who is not naïve. He understands how business and commerce work, yet his commerce department continues to lead him down the primrose path with total disregard for the thorns.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide.
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