Posted on 05/13/2025 3:44:58 AM PDT by karpov
Rarely has an economic policy been repudiated as soundly, and as quickly, as President Trump’s Liberation Day tariffs—and by Mr. Trump’s own hand. Witness the agreement Monday morning to scale back his punitive tariffs on China—his second major retreat in less than a week. This is a win for economic reality, and for American prosperity.
Make that a partial win for reality. The Administration agreed to scrap most of the 145% tariff Mr. Trump imposed on Chinese goods on April 2 and later. What remains is his new 10% global base-line tariff, plus the separate 20% levy putatively tied to China’s role in the fentanyl trade, for a total rate of 30%. In exchange, Beijing will reduce its retaliatory tariff to 10% from 125%. The deal is good for 90 days to start, as negotiations continue.
Investors are cheering at this border-tax reprieve, since this is a step back from mutual assured trade destruction. Dan Clifton of Strategas calculates that Mr. Trump’s trade walkbacks add up to some $300 billion in tariff relief. That’s a huge tax reprieve.
The 30% tariff is still exceptionally high for a major trading partner, but the 90-day rollback spares both sides from what looked like an impending economic crackup. U.S. consumers were facing widespread shortages, while China feared growing unemployment.
As with last week’s modest British agreement, the China deal is more surrender than Trump victory. Apart from the tariff rollback, neither side announced any broader concessions on the substantive trade issues that weigh on the U.S.-China relationship. Those include China’s barriers to American firms, especially in services such as digital and financial, and its chronic intellectual-property theft.
Many of these bad Chinese practices have become worse under President Xi Jinping’s strong-arm economic management.
(Excerpt) Read more at wsj.com ...
Is this really the WSJ? It looks more like MSLSD to me.
The 145% tariff got China to the table. It worked.
Raise tariffs to a ridiculously high level, then turn around and lower them back to where they were and declare a victory.
Great gig if you can get it.
“Rarely has an economic policy been repudiated as soundly, and as quickly, as President Trump’s Liberation Day tariffs—and by Mr. Trump’s own hand”
No bias there, fluck the WSJ.
The WSJ editorial board doesn’t understand how negotiations work.
Oh yes the WSJ is owned by the Murdochs / Faux news. Looks like the leftist kids are running the editorial team.
The wall street journal has become unreadable. It’s nothing but hate and dump on Trump. They used to sort of fair and balanced many moons ago. Oh well, we know what to expect from their EDITORAL BOARD. A bunch of high-minded uppity haters of our President and in the back pocket of the Democrat party. All I see is blaa blaa blaa. And they don’t need all those words to say: I have TDS so bad it hurts. lol
Whenever some coward at the WSJ won’t put their name to the latest globo-trash, it’s the “editorial board.”
Where are they getting funded - since nobody buys their birdcage liners anymore?
Rhetorical question.
I’m not sure where the WSJ is coming from - I see this as more Trump’s style of negotiation. Of course, we could have spent a year or two talking about it to possibly reach an agreement, but Trump got us there 3 months. No matter what you think of the deal, China wouldn’t be so malleable without Trump methods.
The other side of the tariffs was a clear message to China that we can crush their economy without really trying. Trump pantsed them for all the world to see and they couldn’t do anything anout it. The Chicoms have been awfully quiet of late.
The liberal mind is so literal. Can’t see beyond the margins of the page and vacant when it comes to nuance, game theory and trolling. All elements of successful Trump negotiations.
More Karpov BS that it posts on a daily basis.
Indeed; China on notice. Stock market back up. Inflation down. Gas prices going down. Border closed. Fentanyl deaths down.
World Street Journal doesn’t understand putting American workers first. The US work force is an invisible non entity to them. WSJ writers are globalist POSes, all of them.
The Wall Street Urinal can’t make up its mind. Will they gleefully call this a defeat for Trump, or will they praise Trump for lowering the tariffs.
Wall Street Urinal loves those illegal aliens, too. Maybe they’re actually owned by Carlos Slim.
Trump is not a politician. Trump is a successful business person, promoter, negotiator, and deal maker. He brings reality and pragmatism to the WH, and the corporate media and Washington establishment are totally flummoxed since only politics and graft have mattered in the past. Pushed out of their familiar world they now struggle to adapt to the new one.
My God they are stupid! Not even two brain cells that rub together.
“major trading partner”
Nice partner you got there, lady.
Yup, I do the cooking, cleaning, laundry and most of the yard work. He watches the ballgames on TV.
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