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%.
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
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.