Countries to lower reciprocal tariffs by 115% as US treasury secretary says ‘neither side wants a decoupling’

Countries to lower reciprocal tariffs by 115% as US treasury secretary says ‘neither side wants a decoupling’

China and the US have agreed a 90-day pause to the deepening trade war that has threatened to upend the global economy, with reciprocal tariffs to be lowered by 115%.

The 90-day lowering of tariffs applies to the duties announced by Donald Trump on 2 April, which ultimately escalated to 125% on Chinese imports, with Beijing responding with equivalent measures.

China also imposed non-tariff measures, such as restricting the export of critical minerals that are essential to US manufacturing of hi-tech goods.

  • flandish
    3•4 days ago

    one can have money and be fine. one cannot pretend there is an invisible market controlling your choices as a business owner; it’s gaslighting and sociopathic.

    • Nougat
      1•4 days ago

      You’re conflating free markets with capitalism. They’re different.

      • flandish
        2•4 days ago

        they are different but in the context here - a lot of folks will be a lot of screwed because a lot of assholes will “pretend” they “need” to raise prices because of “trump.” He’s a symptom not a cause.

    • @TachyonTele@lemm.ee
      -2•4 days ago

      Amazingly capitalism bad is always only brought up with America on lemmy. Which is apparently the only capitalist country in the world.

      It’s propaganda and people are eating it up.

      This “trade war” has nothing to do with capitalism. It’s only a thing because of trump.

      • flandish
        3•4 days ago

        trump is a capitalist. china is capitalist. what are you talking about?

      • thanks AV
        -2•4 days ago

        What happening in the rest of the world?

        Oh, rising fascism?

        No through line there.

        I guess we should solely place the blame on a singular person instead of taking any time to consider the systems that create these outcomes in the first place. You are very smart because you know trump is the singular issue and nothing else is wrong with the world. Capitalism is working perfectly everywhere but America, right?

        How’s British housing going? How’s Germany doing with the antisemitism thing? What’s italy up to these days? All irrelevant and pointless questions that have nothing to do with trump and therefore aren’t bad.

        I have a lot to learn I guess.