U.S. and China agree to slash reciprocal tariffs in major step toward easing trade war

[Manc Skipper]

ok is the deals being made better than what was before ?

Lets see. Take out the Biden price cuts on drugs, complainabout drug prices and put Biden restraints back claiming victory. No better.

 

[dairyair]

After further research I need to correct figures I provided earlier in the thread. I thought the "deals" were on top of the existing tariffs established in Trump's first term. They are not. In reality China's tariff on US products of 15 percent (on average) is now 10 percent. The US average on tariffs is now 30 percent, up from 21 percent in 2024.

The "justification" for these numbers can be two fold:

1. The gap between China's escalated tariff and the US escalated tariff was 20 percent (125 vs 145 percent). It is still 20 percent as both were lowered by equal amounts.
2. Trump originally imposed a 20 percent tariff on China for fentanyl. To that he added the 10 percent tariff currently on all nations.

I consider the universal 10 percent tax on all nations to be unlawful; however it is unclear if the 20 percent tax on China for fent constitutes a national emergency. If so, it may be legal.

And those numbers are only good for 90 days as of now?
The only real event that is taking place is trade talks. But a sledge hammer was used to get the talks started.

 

[maxparrish]

And those numbers are only good for 90 days as of now?
The only real event that is taking place is trade talks. But a sledge hammer was used to get the talks started.

True, only for 90 days. As the administration shot first and said that talks would not change the tariffs, rather than asking to negotiate first, a "sledgehammer" was then needed, and it was the bond market.

Trump's propensity to shoot first and ask questions (ie negotiate) later created the obstacle.

 

[George50]

If you are not capable of linking them, why are you posting about them?

Show where your information is coming from. And why it's trustworthy.

I’m certainly capable of linking them, but when I post information that is in the OP and should be common knowledge it doesn’t seem necessary. Stealthycat just thinks it’s fun to try to aggravate people.

 

[dairyair]

True, only for 90 days. As the administration shot first and said that talks would not change the tariffs, rather than asking to negotiate first, a "sledgehammer" was then needed, and it was the bond market.

Trump's propensity to shoot first and ask questions (ie negotiate) later created the obstacle.

Yes, he has a very reckless approach to doing things. That can and does hurt the economy.
And yes, the bond prices/yields tanking did cause an about face.

Sometimes, most times actually, a plan and thought process should be done.

 

[SCrider]

Takes 2 to tango. 90 day pause gives room for negotiations toward a trade agreement

last one took 20 months.

 

[Simon W. Moon]

last one took 20 months.

@anatta

with only Canada and Mexico

no telling how long it will take to renegotiate deals with 190 countries

But Trumpco politicians say, "Have faith."

 

[maxparrish]

Yes, he has a very reckless approach to doing things. That can and does hurt the economy.
And yes, the bond prices/yields tanking did cause an about face.

Sometimes, most times actually, a plan and thought process should be done.

It is, for those of us who agree with the administrations concern about certain issues, it is extremely frustrating that Trump's personality has, once again, derailed any coherent plan or execution on any issue.

 

[craig]

90 day pause. leaves tariffs on Chinese exports at 30% / US exports are 10%.. read the entire link for details

U.S. and China agree to slash tariffs for 90 days as trade talks continue

The world’s two biggest economies agreed to a temporary rollback of most of their recent levies after negotiating in Switzerland over the weekend.

www.nbcnews.com

HONG KONG — The United States and China said Monday that they had agreed to a 90-day pause on most of the tariffs they have imposed on each other since last month, sending stocks soaring amid hopes of an easing trade war between the world's two largest economies.

Bessent rejected the suggestion that it might have been better to start with negotiations rather than announcing a series of tariffs that caused global financial turmoil, saying the U.S. had already tried to rebalance trade by working within the system and that “business as usual” would not have worked.

In an interview Monday morning on CNBC, Bessent said that the two countries now have "a mechanism to avoid the upward tariff pressure."

Trump's trade war? He just announced it a week ago?

 

[craig]

Is there anything he can say that we can trust for more than a week?

 

[gman]

Is there anything he can say that we can trust for more than a week?

How about, “of all the people I’ve met, I love me the most”?

 

[anatta]

last one took 20 months.

yes it did

 

[dairyair]

It is, for those of us who agree with the administrations concern about certain issues, it is extremely frustrating that Trump's personality has, once again, derailed any coherent plan or execution on any issue.

Narcissism, a mental disease???

 

[Chomsky]

ok is the deals being made better than what was before ?

Better? What's better? Americans paying more for goods?

 

[Chomsky]

I think it is worth pointing out that those who came didn't have a safety net; none. They didn't expect a better life because of helping hands; the ONLY attraction this country offered was a chance to build a better life based on work, less corruption, and the freedom to pursue beyond their social class.

A digression:

A lot of folks don't know but Frank Capra was an immigrant. Born Francesco Rosario Capra in Bisacquino, a village near Palermo, Sicily, Italy. He was the youngest of seven children of Salvatore Capra, a fruit grower. In 1903, when he was five, Capra's family immigrated to the United States, traveling in a steerage compartment of a steamship Germania
Capra remembers the ship's arrival in New York Harbor, where he saw "a statue of a great lady, taller than a church steeple, holding a torch above the land we were about to enter". He recalls his father's exclamation at the sight:



Corny as it sounds today, people really greeted the statue that way. Eventually he went to college at Cal Tech, played banjo in nightclubs, took odd jobs, studied chemical engineering and graduated in 1918.


View attachment 67569617

This fellow changed direction and became a film director. He rose to become one of America's great directors, never forgetting what America meant to him and his family. This immigrant made four of the most iconic and compelling American films: Mr. Deeds Goes to Town, Mr. Smith Goes to Washington, Meet John Doe, and It’s a Wonderful Life. A heck of a lot more American than native born "art critics" who couldn't see that Capra tapped into the American identity of what we want to believe we are, or aspire to be.

Sometimes you have to be an immigrant to truely appreciate this country, and even though she is disliked by many Ayn Rand once quipped something true of immigrants of choice: heckled during a speech the heckler challenged her by asking "Why should we listen to a foreigner", she replied: “I chose to be an American. What did you ever do, except for having been born?”

PS And I might add he also did the classic WW2 series "Why we fight".

Yes, those immigrants did look longingly at the Statue. They had good reason to. Which is why I posted the image.

Can you imagine this? My grandparents prodded their sons to pick-up arms in the Korean Conflict! They literally loved their new country so much, the country that saved them, and so highly valued what it stood for, to the point they were willing to risk their most precious commodity for it - the blood of their progeny.

I don't think I've seen much more sincere love & appreciation of the Constitution, than in those WW-II immigrant families.

 

[noonereal]

I think it is worth pointing out that those who came didn't have a safety net; none. They didn't expect a better life because of helping hands; the ONLY attraction this country offered was a chance to build a better life based on work, less corruption, and the freedom to pursue beyond their social class.

Same as those coming today. I agree.