Oh, this must be giving Democrats a serious case of heartburn
US, China announce reduced tariffs for 90 days after trade talks
The U.S. and China announced on Monday that tariffs against one another will be reduced for a 90-day period after officials held trade negotiations in Geneva, Switzerland.
The tariffs President Donald Trump announced against China on April 2 are being cut by 24 percentage points for this temporary period while retaining the remaining ad valorem rate of 10% from that announcement, according to a joint statement.
China agreed to the same stipulations, adding that it will “adopt all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2,” the announcement stated.
Under the deal, reciprocal tariffs for both countries would be reduced by 115%. The U.S. will temporarily lower its tariffs on Chinese goods from 145% to 30%, and China will reduce its levies on American products from 125% to 10%.
Both the U.S. and China agreed to take the aforementioned actions by Wednesday.
Could this turn into something long lasting? The NY Times, Washington Post, and many other Credentialed Media outlets are gently naysaying this, almost like they want Trump, meaning America, to lose. Reducing tariffs on exported American goods would be a good thing, right, especially to China? Hey, maybe this would lead to all those Chinese EVs being brought over. You’d like that, NY Times and Washington Post, right? You’ve posted articles about how great they are and so much less expensive many times.
The two sides also agreed to “establish a mechanism” to continue discussions about economic and trade relations, which will be led by Chinese Vice Premier He Lifeng, U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, according to the joint statement.
It’s good that you have business people who want to protect the U.S. first, rather than squishy diplomats squishing around.
Big Donnie, the firebug, started a fire and wants credit for attempting to put it out! LOL.
He’s a self-promotion genius!
Not even close. But then again, nuance is often lost on progressives.
See this below:
Ya see, fp, not to put too fine a point on it, but Big Donnie started a stupid trade war and blinked when Americans said WTF? Big Donnie implemented the 145% tariff. Big Donnie is now backing down. What did he accomplish?
To his credit he has been roiling the markets to the benefit of the wealthy investors!
Again, not even close. Especially amusing is you droolingly quoting aliassmithsmith, as if your progressive circle jerk somehow equates to truth.
LOL.
Golly!
It’s like this guy knows what he’s doing.
Bravo Mr. President!
Is that sarcasm?
Trump saved us from 145% tariffs!!!!! The man truly deserves to be proclaimed EMPEROR OF THE AMREICAS
UT oh….John once again proves he does not know much of anything.
January, 2021
Biden Administration announces they will be keeping their predecessor’s tariffs on China in place.
May, 2024
Biden significantly increases tariffs on Chinese solar panels, steel, aluminum, and medical devices.
September, 2024
The administration finalizes the tariff hikes announced in May. From September 27, rates increase to 100 percent for electric vehicles, 50 percent for solar cells, and 25 percent on EV batteries, critical minerals, steel, aluminum and ship-to-shore cranes.
January, 2025
Trump is sworn into office, promising in his inaugural address to “tariff and tax foreign countries to enrich our citizens.”
What Trump actually did Johnnie boy is to open up China’s markets to US goods with lower tariffs on American products. It doesn’t matter if the goods have zero tariffs if you can’t sell anything there.
SEE KOREA, JAPAN, CHINA and INDIA. They have low tariffs on USA goods but do not allow the USA to sell in their countries. Period. A few bucks here and there. Go to Japan and Korea and see how many American built cars are driving around the cities. That would be pretty close to ZERO. TESLA must build their cars in China in order to sell a Tesla in that country. IE….steal the technology from MUSK and then flood the world market with TESLA technology for 1/2 the price by manipulating their currency.