U.S. and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.
The U.S. agreed to drop its 145% tariff rate on Chinese goods by 115 percentage points to 30%, while China agreed to lower its rate on U.S. goods by the same amount to 10%.
- Deliberately put your own house on fire.
- Let it burn!
- Nvm, let’s put out these flames.
- Brag about how you saved the house from destruction.
Art of the deal!
- set it on fire again in 90 days
It’s kinda worse, now. At 30% there’s zero chance “US manufacturing” would ever be able to compete with Chinese manufacturing, so it’s just a 30% tax on the US people that we’re going to be handing over.
Importer here.
Here’s what really bothers me about this narrative. It’s not accurate. People keep throwing out numbers like 145%, 30% etc and it’s wrong. Here’s the true tariffs for importing something from China today, including the HTSUS codes.
9903.88.01/25% 9903.01.24/20% 9903.01.63/125%
9903.88.01 was enacted on July 6, 2018. There has never been any talk of this going away.
This is a 170% tariff. Not 145% tariff.
So even if they drop the last two tariffs of 145% down to 30%. It’s still a 55% tariff on goods coming from China. Why has literally nobody in the media talked about this or anyone clarified these numbers in any public way?
Pisses me off. 55% is a huge tariff.
Question: How pissed off are the people who paid their giant tariffs yesterday?
Bump and dump the market……again?
So, still artificially created and self-inflicted inflation, with no advantage or extraction at all whatsoever.
Art of the deal, baby!
Brace yourselves.
Neverending “I fixed the problem I created. Everyone should thank me” posts incoming.
“Trump Backs Down And Americans Still Paying 30% Tax On Chinese Goods”
Thanks conservatives. You’re a bunch of dumbfucks.
The damage has already been done. People have already decided not to buy, where not to buy and move toward austerity. Just like during covid, people don’t come back. Trump is an imbecile.
Also, it will take weeks for the whole process to get started again. Once deals are made, factories start production again, and containers are loaded onto ships, which will then take weeks to make it across the ocean. We’re talking months of supply chain shocks in the best possible case.
Not to mention Trump might just decide to put the tariffs back again tomorrow
And the companies already harmed by the tariffs, having to pay because their inventory happened to arrive on one of the days tariffs were on. Now they’ve paid, but competitors that had their inventory arrive a week earlier or later didn’t have to pay.
I was just thinking about Adafruit, and how pissed they must be.
Yep that’s exactly who I was thinking of, couldn’t think of the name though.
Yeah, I think it’d genuinely be less harmful to keep the tariffs on consistently rather than having all this on/off/on/off BS
I think it’d genuinely be less harmful to keep the tariffs on consistently rather than having all this on/off/on/off
You’re not alone. It seems a lot of people who study this for a living are in agreement as well. Shocking the economy is only going to weaken it.
Trump might just decide to put the tariffs back again
Someone tells him how bad he’s been duped and the chances of that are higher.
Putin will call him weak for caving.
Or they might go to zero percent tomorrow… I expect a lot of importers would anticipate the rate dropping to 10% and will wait. Think of how much a fool you would feel paying 145% tax the other day and the next business now only pays 30% because there goods were a few days behind.
Slop
Slop for the slop fiend. 🤷♂️
The news is calling it a “huge win”. Really? It’s a huge win when you shoot yourself and then remove the bullet? They haven’t even closed the wound yet.
I’m confused is this still supposed to bring back American manufacturing?
Or is this to stop fentanyl?
What a nasty question!
Did he even say thank you?
i was just about to open a microchip factory in des moines, too!
Cool! Fun weekend project with the kids.
30% tarrifs is still way too high.
A 90-day pause doesn’t do anything. People are not going to make any long-term plans based on 90 days of uncertainty. Who’s going to make a plan for 90 days when day 91 everything could change? If they done this like a month ago maybe it would have helped, but now it’s too late.
So we still get worse prices, only this time we get them on top of self inflicted supply issues
I hate this timeline…
I don’t see the supply issues stopping for a while. Importers will wait, expecting the tariffs to drop to 10%.
And the backpedaling continues…
Excuse me 30% is sky high
