President Trump’s administration has reached a significant trade agreement with China, resulting in a 90-day suspension of most new tariffs between the two countries. The U.S. will scale down its tariffs on Chinese imports from 145% to 30%, while Beijing will lower its tariffs from 125% to 10%. The announcement led to a surge in global stock markets, with the president touting the agreement as “a total reset with China” and “a historic trade win for the United States.” White House press secretary Karoline Leavitt described the agreement as “an extraordinary step in the right direction.”
The truce comes on the heels of an initial trade deal with the United Kingdom, with President Trump suggesting that more agreements are on the horizon.
Republican strategist Ryan Williams called the agreement “a positive first step” and noted that it shows the president’s deal-making efforts are starting to bear fruit. President Trump’s approval ratings have been sliding since returning to the White House nearly four months ago, with most recent national public opinion surveys indicating approval ratings in negative territory. The decline is attributed to increasing concerns over the economy and inflation.
Trump’s new deal boosts stocks
In a recent poll conducted in late April, President Trump’s approval stood at 44% with 55% disapproval. On specific issues such as the economy, his approval registered at 38%, and just 33% on inflation and tariffs.
The president declared, “NO INFLATION!!! LOVE, DJT” in a social media post Monday morning and hinted at the possibility of a much larger deal with China in the future. “I think they’re going to follow through. I think they want it very badly,” Trump added.
The temporary suspension of tariffs offers a respite for businesses and governments, but the underlying volatility and strategic shifts in trade relationships underscore the complexities of U.S.-China relations. Businesses and policymakers must navigate this uncertain landscape with both resilience and adaptability.
