Tech Trade Deal (with China) Could Mean More U.S. Jobs.

[Engineer]

http://finance.yahoo.com/news/tech-trade-deal-china-could-091500005.html

The U.S. on Tuesday woke up to the news that for the first time in 17 years, a set of major global trade tariffs are likely to be eliminated. In a deal that is expected to stimulate up to $1 trillion in additional trade and create up to 60,000 new U.S. high-tech jobs, China has agreed to drop protective tariffs on semiconductors, Global Positioning System equipment, medical technology, computer software, and more.

I 'guess' this is good news but I'm skeptical whether China would actually follow through with this. I thought that China didn't tariff US products? Do we tariff any of theirs (looking at our store shelves, I doubt it).

60,000 jobs? I remember when those same promises were given with NAFTA and other agreements (although this one appears to be a one way agreement with China removing Tariffs). I guess we'll see...but I won't hold my breath.

By the way, what does China get from this?

 

[michal1980]

I like how they talk about computer software. Like China pays for any of it.... well maybe the first copy.

 

[rudder]

Would be sweet if Americans got the contract to build the ShenYang J-31 for China. Imagine the number of high tech jobs added to our economy.