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

SOME NON-TARIFF BARRIERS PAUSED​

China also committed to removing non-tariff countermeasures imposed against the United States since April 2, although it remains unclear how some of these measures will be walked back.
As part of its retaliation in April, China added rare earths to its controlled export list, opened an anti-dumping probe into chemical firm DuPont's <DD.N> China business and blacklisted some U.S. defense and tech firms.
The wording of the agreement suggests those firms will be removed from the list, which barred trade and investment with China and the anti-dumping probe shelved.
The statement only said countermeasures imposed after April 2 will be removed, which would therefore not include a dozen companies blacklisted in March, and the anti-dumping investigation into Google announced in February.

Asked for comment, a spokesperson for DuPont said: "We continue to stay connected with SAMR (China's State Administration for Market Regulation) through our regular channels."

QUESTIONS REMAIN OVER RARE EARTHS​

In the case of rare earths, because China's decision applied to all countries, it is unclear whether it will count as a U.S.-specific countermeasure under the agreement.
 
So now we are back to Biden levels? I thought Republicans were opposed. Or are we still being charged for Trump's tariff increases albeit smaller?

No. We're 20% higher (in tariffs).

But the financial markets are still lower.

From the OP article:

Yet, some analysts offered a more tempered outlook, noting tariffs are still broadly higher compared with their levels before Trump took office. That suggests U.S. consumer goods will continue to see price increases.
 
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In an easing the US-China Trade War, tariffs will temporarily drop for 90 days

However under the current agreement, American citizens will be paying a 30% tax on imported goods - while Chinese citizens will only be paying a 10% tax.

Is this a good deal for American citizens?

It depends…What exactly did everyday Americans get out of this besides a 30% price hike on most of our consumer goods?
 
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In an easing the US-China Trade War, tariffs will temporarily drop for 90 days

However under the current agreement, American citizens will be paying a 30% tax on imported goods - while Chinese citizens will only be paying a 10% tax.

Is this a good deal for American citizens?
Considering that we buy a whole of more of their stuff than they buy of ours the tariff is set correctly. We need to encourage USA consumers to buy from somewhere else. Also even if you do buy Chinese, it funds our goverment. I mean... somebody has to fund it. You can't just soak the rich forever. Or can you?
 
This is the ballyhooed 'trade deal'? A step back towards the way things were before Trump started 'fixing' it.
Trumpspeak- "Hey, we're undoing what I did a month ago! See? Progress!"

It looks like nothing changed in this "deal", except we pay 30% more for our products.
 
No mention of the farmers who are still cut out of export to China nor of China's position on rare earth minerals. I guess that's part of the future negotiations but the farmers can't wait 90 days. I also find it telling, in a bad way, that when you take out the supposed fentanyl penalty the "reciprocal" tariffs are 10% , Same level as GB who the US enjoys a trade surplus with. Ludnick has said the new benchmark is 10% . So I would say his cards are on the table! Give me something and in return you'll get 10% tariffs. Clearly trade imbalances, unfair treatment and repatriation of production have noting much to do with what amounts to a 10% national sales tax imposed by a President absent Congressional consent.
UK upped the US agri exports by 5 billion. I just posted on rare earths.. Repatriation from China is not about tariffs. I think there are some supply chains though moving to US.. This isn't a trade deal,, but the 90 day pause allows negotiations..I'm good with using a 10% tariff if it goes to the treasury to help pay the "Big Beautiful Bill" but not sure if so
 
It depends…What exactly did everyday Americans get out of this besides a 30% price hike on most of our consumer goods?
King Trump needs something to help pay for tax cuts for members of his court. That is where the 30% import sales tax comes in!

And we all know that the tax cuts for his dukes and duchesses will result in a "trickle down" effect to the peasantry!
 
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In an easing the US-China Trade War, tariffs will temporarily drop for 90 days

However under the current agreement, American citizens will be paying a 30% tax on imported goods - while Chinese citizens will only be paying a 10% tax.

Is this a good deal for American citizens?
It is still going to have a negative effect on the economy:

"Yet, some analysts offered a more tempered outlook, noting tariffs are still broadly higher compared with their levels before Trump took office. That suggests U.S. consumer goods will continue to see price increases.

“The full set of U.S. tariffs would still be considerably higher and broader than expected by markets at the start of the year,” Goldman Sachs analysts wrote in a note to clients Monday."

And it is still too erratic for level headed capitalists to consider long term investments required for increased US Manufacturing:

"The analysts also noted that, for now, the China tariffs reduction is only slated to last 90 days — something that “should keep uncertainty high for both investors and businesses.”

Dysfunctional Donald is hurting the US economy as he chases elusive 'free money' which will ultimately come from the pockets of American consumers.

The unanswered question remains: How much pain will his cult endure before they lose faith in him? He is already losing support. His economic policies are widely unpopular. He enjoys approval ratings in the mid 30 percent range on the economy.

He is writing the script for a new movie:

"How to lose a cult in 2 years."
 
This is the ballyhooed 'trade deal'? A step back towards the way things were before Trump started 'fixing' it.
Trumpspeak- "Hey, we're undoing what I did a month ago! See? Progress!"

I think the whole tariff of debacle is nothing but a way to divert the attention of people away from the absurd grifting he’s doing.
 
Considering that we buy a whole of more of their stuff than they buy of ours the tariff is set correctly. We need to encourage USA consumers to buy from somewhere else. Also even if you do buy Chinese, it funds our goverment. I mean... somebody has to fund it. You can't just soak the rich forever. Or can you?

What great benefit do I or any other American get from finding our Federal government, especially in this manner, dmpi?
 
King “Let them have two dolls” loves to make the middle class pay more for things so he and his rich buddies can get even more tax cuts AND reap rewards in the stock market.
 
It's a step forward, but not nearly good enough since the tariffs are still much higher than they were a few months ago.

Yeah, a step only partially and temporarily undoing the damage he did.
 
UK upped the US agri exports by 5 billion
The government opened the door but it's meaningless if suppliers don't buy the beef. Price competitive American beef has antibiotics and hormones both prohibited in GB. So that leaves the much more expensive hormone and antibiotic free beef. We'll see if it can compare with the same quality beef coming from Ireland. I personally have doubts it will sell well but it sounds good on the surface. Trade is complex.
 
Considering that we buy a whole of more of their stuff than they buy of ours the tariff is set correctly. We need to encourage USA consumers to buy from somewhere else. Also even if you do buy Chinese, it funds our goverment. I mean... somebody has to fund it. You can't just soak the rich forever. Or can you?
Let's say we see a huge shift from China to Vietnam, India, Sri Lanka, Cambodia, Bolivia, etc.

What has changed for the US consumer?
 
However under the current agreement, American citizens will be paying a 30% tax on imported goods - while Chinese citizens will only be paying a 10% tax.

Is this a good deal for American citizens?
If this were the way things worked, China would have been happy for us to stay at 125% and would have never passed reciprocal tariffs.
 
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