U.S. and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.
The U.S. agreed to drop its 145% tariff rate on Chinese goods by 115 percentage points to 30%, while China agreed to lower its rate on U.S. goods by the same amount to 10%.
Importer here.
Here’s what really bothers me about this narrative. It’s not accurate. People keep throwing out numbers like 145%, 30% etc and it’s wrong. Here’s the true tariffs for importing something from China today, including the HTSUS codes.
9903.88.01/25% 9903.01.24/20% 9903.01.63/125%
9903.88.01 was enacted on July 6, 2018. There has never been any talk of this going away.
This is a 170% tariff. Not 145% tariff.
So even if they drop the last two tariffs of 145% down to 30%. It’s still a 55% tariff on goods coming from China. Why has literally nobody in the media talked about this or anyone clarified these numbers in any public way?
Pisses me off. 55% is a huge tariff.
Question: How pissed off are the people who paid their giant tariffs yesterday?
I’m confused is this still supposed to bring back American manufacturing?
Or is this to stop fentanyl?
i was just about to open a microchip factory in des moines, too!
What a nasty question!
Did he even say thank you?
The news is calling it a “huge win”. Really? It’s a huge win when you shoot yourself and then remove the bullet? They haven’t even closed the wound yet.
Brace yourselves.
Neverending “I fixed the problem I created. Everyone should thank me” posts incoming.
The damage has already been done. People have already decided not to buy, where not to buy and move toward austerity. Just like during covid, people don’t come back. Trump is an imbecile.
Also, it will take weeks for the whole process to get started again. Once deals are made, factories start production again, and containers are loaded onto ships, which will then take weeks to make it across the ocean. We’re talking months of supply chain shocks in the best possible case.
Not to mention Trump might just decide to put the tariffs back again tomorrow
Excuse me 30% is sky high
- Deliberately put your own house on fire.
- Let it burn!
- Nvm, let’s put out these flames.
- Brag about how you saved the house from destruction.
Art of the deal!
- set it on fire again in 90 days
It’s kinda worse, now. At 30% there’s zero chance “US manufacturing” would ever be able to compete with Chinese manufacturing, so it’s just a 30% tax on the US people that we’re going to be handing over.
