August 26, 2026

Tariffs

Pro-CCP sites like “Bastille Post Global” are producing a narrative around the recent U.S.-China tariff deal that suggests world leaders should reconsider moving too fast to concede to Trump’s demands on tariffs given China’s “success” in bringing Trump’s initial tariffs to heel with counter-tariffs of their own.

Anonymous analyst “Deep Throat” writes: “The initial breakthrough in US–China trade negotiations has set a precedent, with China’s unwavering stance in the face of Trump’s so-called ‘reciprocal tariffs’ policy serving as a model for other countries in their own tariff talks with the US. China had refused to yield throughout the process and maintained a ‘not backing down’ posture.”

Watch for China’s continued pressure to create a world coalition response to Trump’s tariff actions. It remains to be seen if China’s spin on this deal will look like anything more than bluster. China initially claimed it would not negotiate at all with Trump and would not lower any of its pre-Trump tariff levels, yet ended up doing both in this same deal its trying to spin as a defeat for Trump.

The tables can be turned on China, as other nations might look at what the U.S. has done to bring China to heel, at least in part, and choose to do the same. If Trump were wise, he would be pushing for an anti-China-tariff response from the many nations currently being hammered by Xi’s policies.

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The growing impact of U.S. President Donald Trump’s tariffs is creating “tensions” among members of the G7 heading into a critical summit in Canada next month, the federal finance minister says.

Finance Minister François-Philippe Champagne and Bank of Canada governor Tiff Macklem are chairing three days of meetings with top finance officials from the world’s largest economies in Banff, Alta., this week. The talks are expected to focus on the war in Ukraine and artificial intelligence, and how the G7 members can work together to grow the global economy.

However, Trump’s aggressive trade policies are likely to dominate the proceedings, and could even impact what members can feasibly agree to.

“There’s no doubt that around the table, you need to find unity, but at the same time, it’s true that the tariffs are creating tensions amongst the different partners,” Champagne told Global News in an interview from Calgary on Tuesday.

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At least two members of Trump’s cabinet sold substantial stock holdings just before and on the day of the president’s surprise April 2 tariff announcement that shook global markets and triggered a $2.4 trillion sell-off. Attorney General Pam Bondi divested millions in assets on the day Trump announced the “Liberation Day” tariffs, while Secretary of Health and Human Services Robert F. Kennedy Jr. sold stocks on the days leading up to it, according to recently filed disclosures with the Office of Government Ethics.

 

In a dramatic shift in the tariff war dynamic, two major deals were announced by Donald Trump, one with the UK and one with China, the latter being even more impactful on the tariff wars than the former.

The UK deal includes a 10% baseline tariff on most imported UK goods still in place but an elimination of UK Steel tariffs and a reduction on UK auto tariffs from 27.5% to 10%. In exchange, the UK will eliminate tariffs on U.S. ethanol and U.S. beef, as well as reductions and eliminations on “U.S. machinery, sports equipment, and other agricultural products.”

The China Trade deal will see China’s import tariff reduced from 145% to 30% for 90 days. In exchange, China will reduce U.S. import tariffs from 125% to 10% for 90 days as well. They will also remove all retaliatory tariffs for 90 days. The deal also included an informal agreement China will work on preventing fentanyl from reaching U.S. shores.

Trump: Trade deal with Beijing will open up Chinese market for US businesses – Apa.az
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The Trump administration’s latest trade deal with Britain unfairly penalizes U.S. automakers that have partnered with Canada and Mexico, a trade group representing Detroit automakers said Thursday.

In a sharply-worded statement, the American Automotive Policy Council (AAPC) said the U.S.-UK trade deal “hurts American automakers, suppliers, and auto workers,” according to the group’s president Matt Blunt.

The deal unveiled Thursday between U.S. President Donald Trump and British Prime Minister Keir Starmer lowers the tariff on British vehicles to 10 percent from 27.5 percent on the first 100,000 cars shipped from Britain to the United States.

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China said Friday sales to the United States slumped last month while its total exports topped forecasts, as Beijing fought a gruelling trade war with its superpower rival.

Trade between the world’s two largest economies has nearly skidded to a halt since US President Donald Trump imposed various rounds of levies on China that began as retaliation for Beijing’s alleged role in a devastating fentanyl crisis.

Tariffs on many Chinese products now reach as high as 145 percent — with cumulative duties on some goods soaring to a staggering 245 percent.

Beijing has responded with 125 percent tariffs on imports of US goods, along with other measures targeting American firms.

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The Trump administration is considering cutting the steep 145% tariff on Chinese imports by more than half, possibly as early as next week, as US and Chinese officials gear up for high-level trade talks in Switzerland,

The New York Post

reported, citing sources close to the negotiations.US officials are reportedly weighing a reduction of the levy to somewhere between 50% and 54%, a move aimed at easing tensions as trade negotiations unfold.

Switzerland will be the home of high-level trade talks between the U.S. and China. These talks will most likely be the opening salvos in a series of talks that will eventually end with a trade deal of substance, or so it is “hoped.”

US, Chinese officials to hold trade talks in SwitzerlandChannel News Asia
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Senior US and Chinese officials will travel to Switzerland later this week to kickstart stalled trade talks following President Donald Trump’s sweeping tariff rollout, according to statements from both countries.

The talks mark the first official public engagement between the world’s two largest economies to resolve a trade war escalated by Trump shortly after his return to office in January.

Treasury Secretary Scott Bessent and US Trade Representative (USTR) Jamieson Greer will attend the talks in Europe for the United States, their offices said.

Vice Premier He Lifeng will attend for Beijing, China’s Ministry of Foreign Affairs announced.

“Vice Premier He, as the Chinese lead person for China-US economic and trade affairs, will have a meeting with the US lead person Treasury Secretary Scott Bessent,” the Chinese foreign ministry said on Wednesday (May 7).

The USTR announced that Greer would also meet with “his counterpart from the People’s Republic of China to discuss trade matters”, without naming He…

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WASHINGTON: The US trade deficit widened to a record high in March as businesses boosted imports of goods ahead of tariffs, which dragged gross domestic product into negative terrain in the first quarter for the first time in three years.

The trade gap jumped 14 per cent to a record US$140.5 billion from a revised US$123.2 billion in February, the Commerce Department’s Bureau of Economic Analysis (BEA) said on Tuesday (May 6).

Economists polled by Reuters had forecast the trade deficit rising to US$137.0 billion from the previously reported US$122.7 billion in February.

President Donald Trump’s sweeping tariffs, including raising duties on Chinese imports to a staggering 145 per cent, fueled a rush by businesses to bring in merchandise to avoid higher costs.

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Good Tuesday morning.

Here is what’s on President Trump’s agenda today:

11:30am THE PRESIDENT greets the Prime Minister of Canada

11:45am: THE PRESIDENT participates in a Bilateral Meeting with the Prime Minister of Canada

12:15pm: THE PRESIDENT participates in a Bilateral Lunch with the Prime Minister of Canada

3:30pm: THE PRESIDENT participates in a FIFA Task Force Meeting

5pm: THE PRESIDENT participates in a Swearing-In Ceremony for the Assistant to the President, Senior Advisor and Special Envoy

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Former Vice President Mike Pence said Monday on CNN’s “The Source” that President Donald Trump’s tariffs hurt consumers who want cheap goods.

Pence said, “I do have concerns, that with the president’s call for broad based tariffs against friend and foe alike that ultimately the administration is advancing policies that are not targeted at countries that have been abusing our trade relationship, but rather are essentially new industrial policy that will result in inflation, that will harm consumers and ultimately harm the American economy.”

Host Kaitlan Collins said, “One argument he’s been making lately is that maybe children will have to make do with fewer toys, fewer dolls.”

She asked, “Do you think the American people buy that argument?”

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If you think a 25% tariff is bad, what about a tariff that goes past 3,500%?

On Monday, the U.S. Department of Commerce slapped high tariffs on solar panels and their related products coming from four Southeast Asia countries, Malaysia, Vietnam, Thailand, and Cambodia, accusing manufacturers there of dumping products on the U.S. market. The announcement ends a yearlong trade probe initiated under the Biden administration.

Tariff levels varied wildly between different countries and manufacturers. Solar cells made in Malaysia by Korean company Hanwha only got a tariff of 14.64%, the lowest imposed.

In contrast, four manufacturers in Cambodia—Hounen Solar, Jinktek Photovoltaic, ISC Cambodia and Solar Long PV Tech—got tariffs of 3521.14%. The Southeast Asian country stopped cooperating with the U.S. probe, leading to such high penalties.

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China on Monday issued a direct warning to countries considering trade deals with the US that could disadvantage Beijing.

The warning came in the aftermath of reports that the Trump administration in the US may offer tariff exemptions to other nations in return for limiting their trade with China.
President Trump this month paused major tariff increases on other countries for 90 days, while hiking duties further on goods from China to 145 percent.

“China firmly opposes any party reaching a deal at the expense of China’s interests. If this happens, China will not accept it and will resolutely take reciprocal countermeasures,” the Chinese Ministry of Commerce said, CNBC reported.