Two great interviews with Commerce Secretary Wilbur Ross, aka “Wilburine”. Secretary Ross is easily the most comprehensively well-versed trade policy commerce secretary in modern history, perhaps ever.

Wilburine is discussing the recent U.S./China trade breakthrough. –BACKSTORY HERE– Additionally, at 08:30 of the interview Ross discusses NAFTA against the backdrop of the Senate not yet accepting his “letter of intent” to renegotiate the agreement. Secretary Ross discusses how Robert Lighthizer’s confirmation should help speed up the senate process.

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In substantive terms the bigger aspect to remember is how much more leverage there is in bilateral trade negotiations than multilateral agreements.

The Trans-Pacific-Partnership (TPP) would have held the U.S. hostage to agreements that in many cases were against our interests and to the benefit of the larger group of TPP nations. Former Secretary of State John Kerry stated openly: while China was not part of the original TPP framework, the participating nations held open a back door for China to enjoin.

Because President Trump pulled away from TPP, the U.S. is able to negotiate terms for trade with our market that may have specific and purposeful benefit exclusive to the United States. This is critical as we review current negotiated bilateral deal with China.

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As you watch this second interview it is worth noting FOX’s Neil Cavuto is very close personal friends with the U.S. Chamber of Commerce President Tom Donohue – the biggest lobbying group (spender) in Washington DC.

Donohue’s U.S. CoC wrote almost all of the structural language within the former TPP agreement. Trump won the presidency and trashed that globalist trade deal.

Wilburine politely smacks down Donohue as an annoying gnat; and Cavuto’s tender sensibilities show almost immediately thereafter.

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The China Trade Press Release is HERE

Here’s what it means to you.

On #1 – In two short months the Chinese market will be open to import from the U.S. beef industry. Previously, against the backdrop of BSE (bovine spongyform encephalopathy), ie. mad cow disease, China banned U.S. beef. That ban is now lifted.

#2 and #3 are connected. The U.S. will allow processed (cooked) Chinese chicken products to be imported to the U.S; However –important note– (#3) the U.S. politely forces China to adopt U.S. FDA type regulations, specifically HACCP (Hazard Assessment Critical Control Plans) in their manufacturing and processing of that product. China agrees.

This is important because under TPP there would have been a watering down of overall food-safety regulation due to the inability of TPP nations to be compliant with the stringent expectations exclusive to the U.S. However, because this deal is bilateral China is agreeing to a much more stringent set of food safety standards. Additionally, current U.S. “C.O.O.L (country of origin labeling) laws” will ensure that all China processed poultry will be readily identifiable. {remember, this is not raw product – it is processed}

#4 – Almost immediately the U.S. will be positioned to export Liquified Natural Gas to China. China is authorized to negotiate immediate import purchases of LNG from any U.S. energy company involved in the production and sale. Big boon for energy sector.

#5 – China begins a credit rating system for their citizens. This allows U.S. lenders to be able to evaluate the worthiness of loans to Chinese nationals, and also more stunningly removes the control authority from the Chinese government. This will expand freedom and democracy in China because the Chinese government will not as easily be able to control upward economic mobility based on patriarchy or oligarchy.

#6 – China agrees to a financial clearing house which guarantees payments to U.S. sellers who engage in trade with Chinese companies. Chinese manufacturers will not be allowed to default on their debts to U.S. exporters. In furtherance of this agreement #7 sets up the basis for electronic funds, bankcards and credit cards, which can be used in financial transactions between the U.S. and China. #8 retains the understanding that applicable U.S. law on these transactions applies to both nations. China/U.S. Buyers and Sellers are protected by the financial transactions as outlined in U.S. law.

“Compricated business froks, ..compricated business”…