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.
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.
I am not used to all this winning. I am certainly not complaining!
What winning? Increased prices for the US Consumer?
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$.