US and China Agree To Temporarily Slash Tariffs (cnn.com)
- Reference: 0177459561
- News link: https://news.slashdot.org/story/25/05/12/0826256/us-and-china-agree-to-temporarily-slash-tariffs
- Source link: https://edition.cnn.com/2025/05/12/business/us-china-trade-deal-announcement-intl-hnk
[2]non-paywalled source
they have imposed on each other in an attempt to defuse the trade war threatening the world's two largest economies. From a report:> In a joint statement, the countries said they would suspend their respective tariffs for 90 days while they negotiate. Under the agreement, the United States would reduce the tariff on Chinese imports to 30 percent from its current 145 percent, while China would lower its import duty on American goods to 10 percent from 125 percent.
>
> "We concluded that we have a shared interest," said Treasury Secretary Scott Bessent at a news conference in Geneva where U.S. and Chinese officials met over the weekend. "The consensus from both delegations is that neither side wanted a decoupling," he said. The agreement breaks an impasse that had brought trade between China and the United States to a halt. Many American businesses had suspended orders, holding out hope that the two countries could strike a deal to bring down the tariff rates while raising the spectre of price increases.
[1] https://www.nytimes.com/2025/05/12/business/china-us-tariffs.html
[2] https://edition.cnn.com/2025/05/12/business/us-china-trade-deal-announcement-intl-hnk
Re: (Score:2)
Who took all the money DOGE "saved"? Where's my fat check it needs to be 20k minimum.
Re: (Score:2)
Apparently, today it is the [1]federal employees who receive unemployment payments while working for Deep State [x.com].
There are 100,000 of them, honestly!
[1] https://x.com/RedWave_Press/status/1918848527129628737
Re: If only it were true (Score:2)
The checks will only go to red states.
Re: (Score:3)
The lower tariffs will work from the day of the agreement, so guess.
Trump won!! (Score:2)
So we've returned back to the Biden tariff levels! Another great example of Trumps genius and 3D chess playing ability and his ability to anticipate things years in advance.
Re: (Score:2)
I should have also mentioned his other great economic victory this week, when he announced he is making pharmaceutical companies charge the same amount for their drug in all regions. That will cause prescription drug prices to rise, because the lack of foreign sales due to high un-affordability will cause a revenue shortfall that will have to be made up for with price increases. (An announcement celebrated by hypocrite Elon Musk, who offers Starlink for $150 a month in the US and $20 a month in Kenya. Model
President flip flop (Score:2)
Guy has no idea what he's doing, terrible news for everyone.
"wax on... wax off.. wax on... wax of..."
Re: (Score:2)
The guy is doing the same thing with prescription drugs, which is going to cause people to die in foreign countries and in the US. He is basically blocking companies from selling drugs in foreign countries (by making them unaffordable to the local population), and that will reduce the drug company's revenue which would have to be made up for by increasing the prices of drugs in the USA.
Sucker Re:Trump lost the game of chicken (Score:1)
The only America that is going to be great again is the one experienced by Trump and his pals sitting on a big bag of cash. You will be grovelling for a handout from your new Kings, selling your daughters into their brothels whilst still braying MAGA like a donkey.
China tariff'd the US?? (Score:1)
Ah so China was putting tariffs on the US ... and was this before 2025?
This is really stupid ... (Score:2)
> In a joint statement, the countries said they would suspend their respective tariffs for 90 days while they negotiate. Under the agreement, the United States would reduce the tariff on Chinese imports to 30 percent from its current 145 percent, while China would lower its import duty on American goods to 10 percent from 125 percent.
This is just stupid. The Chinese are worried they will lose 16 million jobs, but they can afford to effectively put 16 million people on the dole by subsidizing affected businesses or by putting these people to work on extra public works projects. Meanwhile the Trump admin thinks it went to Geneva, where they dominated and won bigly like the alpha males they are because China lowered their tariffs more than the US but the Trumpkins are just shooting themselves in the foot, ... again. This is just the same o
Re: (Score:2)
Hasn't this just reset to before the spat started in March?
I suspect the biggest problem the US is going to have now is restarting the supply pipelines from China. As the adafruit example showed, you can be hit by tariffs that didn't exist when you placed your order.
So a) there's going to be some importers unwilling to place orders even though the tariffs are back to what they were and b) the ones who do place orders are only going to be delivered in 30+ days. The current China->US pipeline is very signi
Even at 0% (Score:2)
Chinese people are not about to buy up all those unsold cyberdumpsters. Especially after what Trump tried and what Vance said. These children need a nap.
You put your left leg in, your left leg out ... (Score:1)
In, out, in, out, shake it all about
You do the hokey cokey and you turn around
That's what it's all about
Woah-oh, the hokey cokey
Woah-oh, the hokey cokey
Woah-oh, the hokey cokey
Knees bent, arms stretched, ra, ra, ra
All sing along together now. The Hokey Cokey, courtesy of your cousins over here in the UK.
meaning (Score:4, Insightful)
la Presidenta and his Maggots figured that since imports at U.S. ports were tanking and the U.S. economy would not be far behind, they caved and told China they craved a deal. The 90 day limit is mostly so they can figure out if the new 30% tariffs would also do the job of tanking the U.S. economy. China on the other hand is playing rope a dope.
Re: (Score:2)
Yeah it is beyond pathetic.