In a surprising shift, President Trump cut tariffs on Chinese imports from 145% to 30%, prompting China to lower its response to 10%. This move may offer temporary relief for U.S. businesses amidst escalating tensions between two economic giants. However, consumers still face increased costs, with an analysis indicating an average family may incur a $2,300 hike. Despite the grim outlook, Trump claimed trust in China to collaborate towards easing trade woes, showcasing his characteristic optimistic spin even as supply chain issues loom large.
Donald Trump just did the economic equivalent of Control-Alt-Delete on his trade policy.
Before jetting off to the Middle East, the President on Monday climbed down from a scorched-earth tariff tift.
Still, ever the salesman, Trump started a victory lap well past the starting line.
...the average American family would still see a net hike of $2,300, according to a new Yale Budget Lab analysis.
Collection
[
|
...
]