Tariffs Catch-All

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Mulberry Heel said:
So is it a real trade deal, or have the two sides just agreed to "start a formal negotiation process"? Still pretty vague on the details. The Chinese statement doesn't sound so much like an actual deal as simply an agreement to engage in "recurring discussions" on trade disputes. It will be interesting tomorrow to see the actual details and how Trumpers spin them.
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How the Trumplicans will spin this?

“We win the trade war! China surrendered! Trump is GREAT!”
 
www.rawstory.com

'Deal is a whiff': Onlookers blast Trump for 'wild lies' about his major announcement

Donald Trump on Sunday made an announcement on prescription drug price controls, resulting in mockery and backlash online. Trump on Sunday took to his own social media site, Truth Social, and announced what he called "one of the most consequential orders in our country's history." It was a...
www.rawstory.com www.rawstory.com

Trump on Sunday took to his own social media site, Truth Social, and announced what he called "one of the most consequential orders in our country's history." It was a price control plan for prescriptions.
 
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Mulberry Heel said:
Sure, sure. I have a hunch that if the 2026 midterms don't turn out well for board Trumpers then it will be even longer before they decide to return.
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Buddy, I’ve been around these boards for years and years. With both parties in charge. But I have never been one to focus too much on politics between election seasons. And with this board being its own entity instead of commingled with IC, I end up here a little less because the sports boards is what usually drew me to IC on a daily basis and I would mosey over to the politics board while I was there.

Glad y’all are all doing well it seems!
 
Mulberry Heel said:
So is it a real trade deal, or have the two sides just agreed to "start a formal negotiation process"? Still pretty vague on the details. The Chinese statement doesn't sound so much like an actual deal as simply an agreement to engage in "recurring discussions" on trade disputes. It will be interesting tomorrow to see the actual details and how Trumpers spin them.
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It’s a concept of a deal addressing the rules for negotiating a concept of a trade deal.
 


U.S. and China Agree to Temporarily Slash Tariffs in Bid to Defuse Trade War​

The 145 percent U.S. tariff on Chinese goods will come down to 30 percent under the deal. The U.S. Treasury secretary said “neither side wanted a decoupling.”

“… In a joint statement, the countries said they would suspend their respective tariffs for 90 days and continue negotiations they started this weekend. Under the agreement, the United States would reduce the tariff on Chinese imports to 30 percent from its current 145 percent, while China would lower its import duty on American goods to 10 percent from 125 percent.

“We concluded that we have a shared interest,” said Treasury Secretary Scott Bessent at a news conference in Geneva where U.S. and Chinese officials met over the weekend. “The consensus from both delegations is that neither side wanted a decoupling,” he said.

China said it will suspend or revoke countermeasures adopted in retaliation for escalating tariffs. In early April, the Chinese government had ordered restrictions on the export of rare earth metals and magnets, critical components used by many industries, including automakers, aerospace manufacturers and semiconductor firms.

… Mr. Bessent said the tariffs had effectively created an embargo, something neither side wanted. The two countries said that ongoing negotiations will involve Mr. Bessent, Mr. Greer and He Lifeng, China’s vice premier for economic policy, who led the weekend talks for the Chinese. …”
 
nycfan said:


U.S. and China Agree to Temporarily Slash Tariffs in Bid to Defuse Trade War​

The 145 percent U.S. tariff on Chinese goods will come down to 30 percent under the deal. The U.S. Treasury secretary said “neither side wanted a decoupling.”

“… In a joint statement, the countries said they would suspend their respective tariffs for 90 days and continue negotiations they started this weekend. Under the agreement, the United States would reduce the tariff on Chinese imports to 30 percent from its current 145 percent, while China would lower its import duty on American goods to 10 percent from 125 percent.

“We concluded that we have a shared interest,” said Treasury Secretary Scott Bessent at a news conference in Geneva where U.S. and Chinese officials met over the weekend. “The consensus from both delegations is that neither side wanted a decoupling,” he said.

China said it will suspend or revoke countermeasures adopted in retaliation for escalating tariffs. In early April, the Chinese government had ordered restrictions on the export of rare earth metals and magnets, critical components used by many industries, including automakers, aerospace manufacturers and semiconductor firms.

… Mr. Bessent said the tariffs had effectively created an embargo, something neither side wanted. The two countries said that ongoing negotiations will involve Mr. Bessent, Mr. Greer and He Lifeng, China’s vice premier for economic policy, who led the weekend talks for the Chinese. …”
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So we’re basically back to the tariffs Biden had on Chinese goods, plus the new 10% universal Trump tariff? Super glad we went through that months long chaos to get back where we started.
 
lawtig02 said:
So we’re basically back to the tariffs Biden had on Chinese goods, plus the new 10% universal Trump tariff? Super glad we went through that months long chaos to get back where we started.
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And it only says these cutbacks are temporary, not permanent. So we're still going to be paying more for Chinese goods and all we got out of this mess was a return to the same situation that existed before Trump raised tariffs on China. Can't wait to see how board Trumpers and bosiders spin this one - we raise tariffs to a ridiculous rate because, as Trump said repeatedly and inaccurately, we were "losing" billions of dollars each year to China in trade, and in the end all we got for our efforts was a return to the status quo, plus an extra 10% tariff that we as consumers will still have to pay. Truly, Dear Leader's negotiating skills are a wonder to behold.

ETA: Having said that, I'm sure that the stock market soaring today and right-wing media propaganda will lead Trumpers to believe that Dear Leader has triumphed over his enemies and critics yet again, even as they're still stuck paying more at Dollar General and Walmart.
 
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lawtig02 said:
So we’re basically back to the tariffs Biden had on Chinese goods, plus the new 10% universal Trump tariff? Super glad we went through that months long chaos to get back where we started.
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nothing wrong with taking the long way home;)

 
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Trump is very clearly the world’s worst and dumbest negotiator, but since we have an abject imbecile running our government, as someone who cares about my financial bottom line far above political partisanship, I’m glad to see this news this morning that, at least as of now and for the next 90 days, our macroeconomic prospects are better than they were 24 hours ago even though they are significantly worse than they were on Inauguration Day.

That said, this surrender by Trump has got to make Trump supporters furious. So now we are not getting all of that big beautiful manufacturing coming back to the United States, and tariffs are not going to replace the income tax, and Liberation Day was a total hoax? #Winning
 
nycfan said:
115 points. Ours was 145%, theirs 125%. So now ours = 145-115 =30%, theirs 125 - 115 =10%
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Yes.

I know that.

I was making fun of the quoted part in bold: “US and China reach agreement to slash tariffs by 115%.”

It didn’t say “slash tariffs by 115 points.”
 
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