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Posted on 05/12/2025 10:32:05 AM PDT by Red Badger
Key Points
President Donald Trump said China “agreed to open” after the two countries agreed to temporarily slash most of the tariffs on each other’s goods.
Trump said that was “maybe the most important thing” to come out of trade talks with Treasury Secretary Scott Bessent, U.S. trade representative Jamieson Greer and their Chinese counterparts.
The U.S. and Chinese officials said they struck an agreement to pause most tariffs and other trade barriers for 90 days.
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President Donald Trump said Monday that China “agreed to open up” after the two countries announced they would temporarily slash most of the tariffs on each other’s goods.
Trump offered few details about that development, but said it was “maybe the most important thing” to come out of the high-level trade talks between the two superpowers in Geneva, Switzerland, over the weekend.
Trump indicated that those purported commitments have not been cemented yet.
“We have to get it papered,” he said at the White House before signing an executive order on U.S. drug prices. “But they’ve agreed to open up China.”
Trump’s remarks came hours after U.S. and Chinese officials said they struck an agreement to pause most tariffs and other trade barriers for 90 days.
The U.S. agreed to temporarily reduce tariffs on China to 30%, down from 145%. Beijing said it will lower tariffs on U.S. goods to 10% from 125%.
Trump said Monday morning that tariffs on China would not go back to 145%, even if a longer-term deal cannot be reached once the 90-day pause expires.
“But they would go up substantially,” Trump added.
The U.S. side of the temporary agreement shrinks Trump’s “reciprocal” tariffs on China to 10%. The U.S. is also maintaining 20% tariffs that were previously imposed over allegations about China’s role in bringing fentanyl to America.
The U.S. said it will additionally retain tariffs that were in place for specific Chinese products, including steel and aluminum, before early April.
China will also “suspend or remove the non-tariff countermeasures” it has imposed on the U.S. since April 2, according to the White House.
The duties that Trump slapped on China in April effectively established a trade embargo with one of America’s largest suppliers of goods.
The agreement to temporarily suspend tariffs is set to begin Wednesday.
The Chinese Embassy in the U.S. did not immediately respond to CNBC’s request for comment on Trump’s remarks.
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Of course, I believe everything China says. China never lies, right? Wait just a minute, does stealing intellectual property counts as lies?
No, that’s just business as usual....................
About two-thirds of the trade imbalance with China comes from the Chinese counterpart of ‘Buy American’.
People in China generally have the option of buying Chinese, and they do.
They don’t want to be seen as unpatriotic.
The 100% Chinese Huawei phone is bought, and the majority of the price American Apple phone isn’t.
Zeroing out Chinese tariffs and tossing out anti-American regulations entirely will not fix the ‘Buy Chinese’ problem.
Only variable tariffs based on trade deficits will be able to overcome Chinese resistance to buying American stuff, and then only partially.
Anything brought into China becomes the CCP’s property.
This man has entered the chat.
There might be two major regulatory schemes for world trade:
1. the EU scheme
2. the general US scheme (sans NY & CA)
Any non-agricultural human consumption product that meets both of the two should be able to be vended everywhere.
Any non-agricultural product not for human consumption or service that meets one of the two should be able to be vended everywhere.
Labels might have to be translated.
Any country that doesn’t allow that (say China) should be placed on a barter only trade basis with the US (and probably EU too).
Yeah, that is not gonna happen, along with Iran not obeying any nuclear “deal” Trump makes with them.
I think Trump has factored Chinese intransigence into the equation. If they’re lying we’ll know in 90 days. And then he’ll switch back to dropping the hammer on them. Normally the only thing the Chinese would do is lie and obfuscate. But currently their economy is a 3-D, slow motion trainwreck. Their real estate sector is a bad joke and their other sectors...actually they have no other sector but manufacturing. And tariffs have crippled that rather effectively.
For the first time in awhile they’re vulnerable.
CC
What do you mean by that?
Subject to Annual review would be nice. The numbers will tell the story.
China will open a blackmail file on every US businessman exporting goods to China.
Count on it.
Extortion will be a big win for the CCP.
People in China WILL NEVER purchase American products AND Americans should do the same here I realize that not everyone can afford to make this change HOWEVER if enough of us REALLY TRY to decouple China from our lives it will make a HUGE difference just as it did with Bud Ight AND Target!!!
Counting down to their next scamdemic released on the world. The Chi-coms will do anything so they don’t have to abide by their “agreements.”
The Chinese, like some of the other Asian people, consider themselves to be superior to other races and nationalities, and will only buy non-Chinese products if that’s all that’s available.
Wealthy Chinese, like wealthy Americans, like to show their off wealth by buying ‘imported’ goods instead of domestic...............
When your basic government is atheist, and your general ethos is that anything you do that helps your atheist/Communist/socialist government is acceptable (and even ‘honorable’), you will do whatever you think you can get away with. That’s why you need to have someone like Trump who will hold their feet to the fire and not give them the opportunity to take advantage of us.
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