By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Pew PatriotsPew PatriotsPew Patriots
Notification Show More
Font ResizerAa
  • Home
  • News
  • Tactical
  • Guns and Gear
  • Prepping & Survival
  • Videos
Reading: Trade War Averted? U.S. And China Make A Deal
Share
Font ResizerAa
Pew PatriotsPew Patriots
  • News
  • Tactical
  • Guns and Gear
  • Prepping & Survival
  • Videos
Search
  • Home
  • News
  • Tactical
  • Guns and Gear
  • Prepping & Survival
  • Videos
Have an existing account? Sign In
Follow US
Trade War Averted? U.S. And China Make A Deal
Prepping & Survival

Trade War Averted? U.S. And China Make A Deal

Jimmie Dempsey
Last updated: May 12, 2025 6:04 pm
Jimmie Dempsey Published May 12, 2025
Share
SHARE

Have the United States and China averted a trade war? Washington and Beijing have agreed to scrap or suspend most of the new trade duties imposed on each other since early April, pending further talks, according to a joint statement released on Monday.

The two nations agreed to put the tariffs aside after two days’ worth of talks, which took place in Geneva, Switzerland. The U.S. has agreed to halt the initial 34% new duties introduced by Trump on April 2nd for 90 days, while China will do the same with its own 34% tariffs rolled out in response to that measure. The U.S. and China will also roll back all tariff hikes imposed since April 8th, but will keep in place the baseline 10% tariff on mutual imports.

This means the U.S. overall tariffs on Chinese goods will stand at 30%, due to the 20% duty introduced back in March, and Chinese tariffs will stand at 10%, according to a report by RT. Beijing has said that it will also ease non-tariff measures such as export controls on U.S. goods.

These new policies will be effective starting on May 14th, and the two countries will create a consultation mechanism to work out any further trade policy steps.

US Treasury Secretary Scott Bessent earlier told reporters that the talks in Geneva were “productive.” Trade representative Jamieson Greer said the sides were able to come to agreement “quickly,” which “reflects that perhaps the differences were not so large as maybe thought.” China’s chief negotiator, Vice Commerce Minister Li Chenggang, said that discussions were “honest, in-depth, and constructive” and based on “mutual respect, equality, and mutual benefit.” -RT

The stock market took notice of the new policy changes. The U.S. markets quickly responded to Sunday’s announcement, with Dow futures rising 1.1%, S&P 500 futures up 1.5%, and the Nasdaq Composite gaining 2.1%. Chinese stocks also rallied, with the CSI 300 up 0.6% at midday, the Shanghai Composite climbing 0.4%, and Hong Kong’s Hang Seng Index rising 0.9%.

Read the full article here

You Might Also Like

Bird Flu Has Found Its Way Into Bobcats In New York

Rubio Axes 83% of USAID Programs, Exposes Deep State and Globalist Slush Fund

Egg Prices Fall As Bird Flu Fear Mongering Wanes

WEF President On Trump’s “World Order” “Hopefully, This New World Order Is Not The Jungle Growing Back”

Thieves Set Their Sights On Eggs As Prices Skyrocket

Share This Article
Facebook Twitter Email Print
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

We Recommend
Chase Chrisley celebrates Julie and Todd Chrisley’s prison release as his ‘best’ birthday gift
News

Chase Chrisley celebrates Julie and Todd Chrisley’s prison release as his ‘best’ birthday gift

Jimmie Dempsey Jimmie Dempsey June 2, 2025
Mohamed Sabry Soliman: What we know about illegal immigrant accused in Colorado terror attack
Ukraine’s ‘Spider’s Web’ drone strike burns over 40 Russian warplanes, Moscow calls it ‘terrorist attack’
NY Times columnist compares Elon Musk to history’s worst murderers over USAID cuts
Diddy accuser sues Harvey Weinstein for sexual assault
House lawmakers to unveil draft budget for vets programs this week
Tennessee softball escapes WCWS elimination game with win over UCLA despite controversial game-tying homer
News

Tennessee softball escapes WCWS elimination game with win over UCLA despite controversial game-tying homer

Jimmie Dempsey Jimmie Dempsey June 1, 2025
Rockies make unfortunate history with 50th loss of season
News

Rockies make unfortunate history with 50th loss of season

Jimmie Dempsey Jimmie Dempsey June 1, 2025
Rep. Nadler condemns Trump admin after staff member handcuffed during congressional office security sweep
News

Rep. Nadler condemns Trump admin after staff member handcuffed during congressional office security sweep

Jimmie Dempsey Jimmie Dempsey June 1, 2025
Pew Patriots
  • News
  • Tactical
  • Prepping & Survival
  • Videos
  • Guns and Gear
2024 © Pew Patriots. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?