The Dow surged over 1,000 points after the Trump Administration and China reached a new bilateral agreement, aimed at lowering tariffs, reducing retaliatory measures, and establishing a foundation for future economic dialogue. The deal was announced today by President Donald Trump following high-level negotiations over the weekend in Geneva, Switzerland, marking the first joint trade statement between the two nations in several years.
The agreement comes directly after a similar breakthrough deal between the United States and the United Kingdom, underscoring the Trump administration’s renewed emphasis on trade diplomacy.
Under the terms of the deal, both countries will reduce tariffs by 115% while retaining a baseline 10% tariff on each other’s goods. The changes are set to take effect on May 14. China has agreed to remove the retaliatory tariffs and non-tariff barriers imposed since early April. The United States will eliminate additional tariffs imposed on China in April but will maintain pre-April tariffs, including Section 301 and Section 232 duties, among others.
The move is seen as a step toward addressing the longstanding US trade deficit with China, which totaled $295.4 billion in 2024 — the largest with any US trading partner. According to the joint statement, the deal seeks to begin correcting trade imbalances that have contributed to domestic job losses and a weakening manufacturing sector in the United States.
As part of the agreement, both nations will suspend their respective 34% tariffs imposed in early April for a 90-day period, though each side will maintain a 10% tariff throughout the suspension. U.S. officials emphasized that the 10% tariff serves as a structural safeguard for American manufacturing and labor interests.
The deal includes commitments from both countries to take “aggressive actions” to curb the flow of fentanyl and its chemical precursors from China to North America, reflecting an effort to link trade and national security concerns.
How’s this grab you whidbey.??Terribly I will bet. You would rather have the fentanyl I’m sure. Have a nice day there you bundle of joy & freedom.
Was this the trade deal that (D)ems said Trump couldn’t do? You know, the one that Biden and his handlers wouldn’t even consider because it would improve America’s trade position and create parity? The one that was causing our economy to collapse because of “Trump’s tariffs?” All across America and Alaska are (D)em households weeping because Americans are now better off – thanks to the audacity of Trump to put America first.
The UK break through deal was a 400% increase in import taxes from 2.5% to 10%. Trump breaks relationships and when you look more closely the end result is not usually an improvement. Bullying friends and breaking agreements is not a path to prosperity. China gave Trump an off ramp, but our neighbors will not forget.
It certainly wouldnt be fair to anyone to pay the same tariff amount on each others goods imported now would it Frank?
That would be in your mind “bullying friends and breaking agreements” that perhaps the “big guy” made with China when He and Hunter took many trips and spent “more time in China than his home” as Joe bragged about.
Democrat president Trump sure has been busy. He’s imposed massive, unconstitutional tax increases of a minimum of 10 percent on goods private companies bring into the USA, making prices higher for consumers. (Inflation).
Now Democrat Trump is about to impose unconstitutional price controls on the prices private companies establish for their medications.
Democrat Trump will also continue massive deficit spending like the good little socialist he is.
But wait, there’s more. Notice how Trump ensured Canada elected a liberal PM? That country was on a path to rejecting the liberal nonsense until Trump helped out the liberals there by his insane posturing about making Canada the 51st state. That backfired, (or did it) and now the poor Canadians are stuck with Carney.
I miss Reagan.
“Unconstitutional tax increases “
Please explain/expound. Facts please.
Sure. Article 1, section 8 of the US Constitution gives Congress authority over tariffs.
Trump is improperly using a law passed by Congress for his tariffs. The courts will eventually stop him, because what he is doing isn’t legal.
It was multiple Acts of Congress that legally allow him to do what he is doing. An Act of Congress would be required to undue the previous Acts of Congress.
Nope.
The president’s executive order announcing the tariffs invoked laws including the International Emergency Economic Powers Act…
So what is the emergency? That’s the problem, Trump made that up.
Business people need certainty. We can’t have some nut job president making up new, tariffs, at any possible rate, from day to day.
I miss Reagan. Funny how so called conservative become liberals in order to be in synch with the MAGA cult.
Yep, multiple Acts of Congress have allowed the president to levy or reduce tariffs, some have even expired or other Acts of Congress have revised. It’s kind of how the legislatuve process works for better or worse. See the following Acts of Congress
Trade Expansion Act of 1962
Smoot-Hawley Tariff Act
Trading with the Enemy Act
Reciprocal Trade Agreements Act of 1934
Trade Act of 1974
Trade Act of 2002
International Emergency Economic Powers Act
Trade Priorities and Accountability Act of 2015
If you’ve read the executive order you know what the emergency cited is, if you wish to debate that, that’sfine but that is a different discussion entirely. I just wish that people like yourself could have a rational discussion at some point, most of your post here is an emotional response to a logical issue.
More back flips from you- but I expect that from liberals.
Vox news, yesterday:
“A federal court held the very first hearing on President Donald Trump’s wide-ranging, so-called Liberation Day tariffs on Tuesday, offering the earliest window into whether those tariffs — and potentially all of the shifting tariffs Trump has imposed since he retook office — will be struck down. The case is V.O.S. Selections v. Trump.
It is unclear how the three-judge panel that heard the case will rule, but it appears somewhat more likely than not that they will rule that the tariffs are unlawful.”
Glad to read you’ve invoked Smoot Hawley. That act helped usher in the Great Depression.
You lost me when you cited Vox “news.
The Democrat appointed judges will surely try to interrupt a fair negotiation of tariffs similar to the deportation of illegal gang members killing and robbing American citizens but that is just what Democrats want. Chaos and insecurity.
How does this compare to the tariff imposed on goods coming through the port of Anchorage by the sitting assembly? I guess that one is ok or somehow better.
Nope.
I am not used to all this winning. I am certainly not complaining!
What winning? Increased prices for the US Consumer?
Less consuming, more producing. Get back to work. Stop collecting wellfare.
To sum it all up in a few words.
It is called the “Art of the Deal”
We are now on an even playing field…and the “Big Guy” is no longer getting ten percent.
It is no wonder Joe bragged about having spent more time in China than his home as VP under Obama’s watchful eye$.
How about Suzanne write another article when the market goes up another 3000 points to where it was when Trump
took office. Then we’ll be at any even
starting point.
cman, Maybe you could think back to a time several months and years ago. You know, to when the Covid vaccines were mandated by Big Gooberment, price inflation was roaring, China was exporting a killer of our people that is named fentanyl, an invasion of gangsters and fanatics was underway on the southern border, the U.S. president was barely conscious, the vice president was a cackling idiot, and much of the world was coming unglued.
But maybe your real problem isn’t the stock market. Maybe it’s TDS. For a starting point, reach out for help, and try to get a life.
As usual (as if there’s anything at all ‘usual’ about our national leadership with a convicted criminal representing the interests and best attributes of our country), the stegasaurus turned around in the china shop and his enormous tail knocked a significant portion of sellable inventory on the floor and the pieces higher up and potentially of more value were smashed to smithereens. So, there is this ancient Japanese art of fixing broken pottery, and lining the repaired seams with a proprietary secret formula that contains gold, but I would think twice about using any of the reconstructed teacups for their original purpose, wouldn’t you? Oh, it was triceratops in the china shop? Figures.
Huh?
Mrs. N can only speak in Trump Derangement Syndromeese.
To date, there is no way to translate their gibberish.
Less consuming, more producing. Get back to work. Stop collecting wellfare.