#TACO news
New #China #Trade ‘Deal’ Just Takes The #US Back to Where It Started
If a handshake agreement holds, it will merely undo some of the #damage from the #TradeWar that #Trump started.
#economy #tariffs #inflation #recession #geopolitics #TrumpIsWeak
https://www.nytimes.com/2025/06/11/us/politics/us-china-trade-deal-trump.html?smid=nytcore-ios-share&referringSource=articleShare
After 2 days of tense negotiations, the #UnitedStates & #China appear to have walked back from the brink of a devastating economic conflict — maybe.
Officials from the 2 countries reached a handshake agreement in the early hours of Wednesday in London to remove some of the harmful measures they had used to target each other’s economies as part of a clash that rapidly intensified in recent months.
#Trump #TACO #economy #tariffs #inflation #recession #geopolitics #TrumpIsWeak
It remains unclear whether the truce will hold—or crumble like one struck in May did. Even if the agreement does prove durable, its big accomplishment appears to be merely returning the countries to a status quo from several months ago, before #Trump provoked tensions w/ #China in April by ramping up #tariffs on goods it produces.
“It seems like we’re negotiating in circles,” said Myron Brilliant, a senior counselor at DGA-Albright Stonebridge Group & fmr exec VP of the #US Chamber of #Commerce.
