Tariffs imposed on Chinese goods slashed to 30%

[lefkonj]

Yup, and it has put some US companies out of business due to the uncertaintly. It has affected our engineering business because our clients have deferred projects due to the uncertainty. It has caused lost wages and business revenue that cannot be replaced.

It has hurt retailers, farmers, manufacturers basically the entire economy because some 78 year old yearns for the days of the past. Pathetic.

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[j.w.s]

https://www.reuters.com/world/china/us-china-reach-deal-slash-tariffs-officials-say-2025-05-12/

Boom

More like "After briefly spiking to over 100%, tarrifs imposed by the US on China have temporarily settled at 30%, the highest level since the 90s."

Graph of China tarrifs over time:

And the 30% is just a temporary reduction right now. The suddently and arbitrarily raised tarrifs are now temporarily somewhat reduced. So the tarrif level is down for now, though still higher than before, but the uncertainty level remains extremely elevated, which is never good for the economy. If was planning out my five-year manufacturing plan, I would just keep all plans on pause to see what happens. WIth a side-note that, at least for the next few years, any announced trade policy might get yanked out from under me at any time, etc.

 

[mkg3]

Electronics and rare earths

Need a deal with South Korea. Samsung SDI supplies the 2170 cells for Rivian. So it helps sum but not enough compared to the deal with South Korea.

R2 is powered by LG and will be made in US.

 

[Dark-Fx]

That certainly is an interesting situation for the merchants here. Do they absorb that temporary cost spike or do they temporarily increase their prices, or do they just raise their prices forever acting like the tariffs never dropped back down? And, it's only a 90 day pause on the sky-high tariffs during trade negotiations correct?

I remember several years back (long before Covid) when there was a short term baking flower shortage. Our local bagel shop raised prices from (IIRC) $0.75 to $1.25 and when the shortage was over he never lowered his prices back down. He's now at $1.75/bagel.

Raise prices forever, at least as long as the product keeps selling.

 

[voxel]

...now Canada and Mexico, along with EU have higher tariffs than China.

Negotiate, negotiate, negotiate...

It's a joke. 30% wholesale tax on goods from China won't motivate US companies to manufacture in the US but rather move production to other cheap labor countries. And remember this is only 90 days also.

Besides, in four years this will all be undone anyhow.

 

[Dark-Fx]

It's a joke. 30% wholesale tax on goods from China won't motivate US companies to manufacture in the US but rather move production to other cheap labor countries. And remember this is only 90 days also.

Besides, in four years this will all be undone anyhow.

And the 90 day reduction is only a suggestion anyway.

 

[Zoidz]

It's a joke. 30% wholesale tax on goods from China won't motivate US companies to manufacture in the US but rather move production to other cheap labor countries. And remember this is only 90 days also.

Besides, in four years this will all be undone anyhow.

But it’s raising trillions in tariff revenue paid by China, right?

 

[babock]

What a clusterf*ck!

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