Despite Trump’s ‘Deals,’ Trade War Is Still On
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The temporary lifting of triple-digit trade levies between China and the U.S. while trade talks get under way removes the threat of an immediate stagflationary hit to the economy. This is very good news.
The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.
President Trump and Treasury Secretary Scott Bessent have both said numerous trade agreements could come as soon as this week.
President Donald Trump highlights his administration's trade agreement with China and more recent accomplishments during a 'Hannity' exclusive interview.
4hon MSN
The first trade deal struck following Donald Trump's tariff regime has drawn criticism from Beijing, which experts say is also a warning to other countries.
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The trade deal struck last week between the United States and Britain is probably not going to serve as a template for a trade agreement between the U.S. and the European Union, Lithuania's Finance Minister Rimantas Sadzius said on Tuesday.
Progress toward reducing trade barriers has been made but uncertainty from U.S. trade policy will lead to weaker growth and continued lower inflation in the U.K., Lombardelli said.
The deal still has to be finalized, but it was hailed as a success by both countries for being the first since President Trump announced broad tariffs in April.
Gulf stock markets continued their upward trend early on Monday, buoyed by rising oil prices and developments in U.S.-China trade negotiations, which bolstered market sentiment as U.S. President Donald Trump prepares to visit the region.
When President Trump ended a tariff exemption for small packages from China and Hong Kong, e-commerce companies Shein and Temu lost a big advantage as they became exposed to Trump’s new sky-hig