Why It Matters

The deal was announced by U.S. Treasury Secretary Scott Bessent following talks with Chinese Vice Premier He Lifeng and other Chinese officials in Geneva, Switzerland, over the weekend.

President Donald Trump dramatically hiked tariffs in early April in a bid to reduce the trade deficit and revive U.S. manufacturing. The tariffs brought nearly $600 billion in annual bilateral trade to a standstill and rattled the world’s two largest economies.

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Source: https://www.newsweek.com/china-issues-update-trade-deal-us-2070791

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Governments including those of Taiwan, Japan and South Korea have begun negotiations with Washington after President Donald Trump announced sweeping tariffs against almost all of America’s trading partners on April 2. The import taxes were quickly paused against most countries after markets panicked, but he increased his already steep tariffs against China.

“China firmly opposes any party reaching a deal at the expense of China’s interests,” China’s Commerce Ministry said in a statement. “If this happens, China will never accept it and will resolutely take countermeasures in a reciprocal manner. China is determined and capable of safeguarding its own rights and interests.”

U.S. Treasury Secretary Scott Bessent said earlier this month the countries currently negotiating trade deals with the U.S. should “approach China as a group” together with Washington.

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Source: https://apnews.com/article/chian-us-tariffs-retaliation-18b3da9bed1aa1b3ee3a79e91c197730

The post China warns countries against making trade deals with the US unfavorable to Beijing first appeared on Garner Ted Armstrong Evangelistic Association.

“It’s a matter of life and death because 60-70% of our business is with American clients,” said Li, marketing manager of Conmo Electronic Co. “Goods cannot be exported and money cannot be collected. This is very severe.”

Li was at her firm’s booth at the Canton Fair, China’s biggest trade expo held twice-a-year in the southern city of Guangzhou, where more than 30,000 exhibitors showcase their products over an area larger than 200 football fields.

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Source: https://www.reuters.com/world/china/chinas-largest-trade-fair-exporters-say-us-markets-are-frozen-2025-04-15/

[Disclaimer]

The post At China’s largest trade fair, exporters say US markets are ‘frozen’ first appeared on Garner Ted Armstrong Evangelistic Association.

The 10 percent tariff will go into effect on Friday. About 60 countries facing a higher reciprocal tariff will see those rates go into effect on April 9 at 12:01 a.m. Trump also announced a 25 percent tariff on all foreign-made automobiles that will take effect at 12:01 a.m. April 3.

Among the countries being targeted with reciprocal tariffs are China, Vietnam, Taiwan, Japan, India, South Korea, Thailand, Switzerland, Indonesia, Malaysia, Cambodia and the European Union.

Trump said those reciprocal tariffs will be calculated by combining the rate of tariffs and non-monetary barriers like currency manipulation, then divided in half.

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Source: https://thehill.com/homenews/administration/5228598-trump-10-percent-global-tariffs/

The post Trump imposes 10 percent global tariffs; higher rate for ‘worst offenders’ first appeared on Garner Ted Armstrong Evangelistic Association.

“President Xi and I will always be friends, no matter what happens with our dispute on trade,” Trump said in a tweet in which he also predicted that the U.S. would prevail.

“China will take down its Trade Barriers because it is the right thing to do,” Trump said. “Taxes will become Reciprocal & a deal will be made on Intellectual Property. Great future for both countries!”

Trump has also said the ongoing trade dispute may generate “a little pain” in the short term, including big losses on Wall Street.

More: Trump says there may be ‘a little pain’ as U.S. and China trade tariff threats

China has denied American accusations of unfair trade practices and vowed to retaliate if the U.S. follows through on plans to put tariffs on Chinese goods, claims that have roiled global markets over fears that prices will rise and demand will slow worldwide.

In addition to threatening penalties on American goods, China has also asked the business community in the United States and elsewhere to protest the planned Trump tariffs.

“We call on the international business community including the United States industrial and commercial circles to take prompt and effective measures and urge the U.S. government to correct its errors,” said state newspaper People’s Daily.

The two nations have long criticized each other over trade, but the stakes have grown over the past month.

The latest round began March 22 when the Trump administration announced plans for tariffs on $50 billion in goods from China, in response to what it called Chinese theft of U.S. trade secrets.

Hours later, China responded with plans for $3 billion of tariffs on U.S. goods.

Last week, the U.S. vowed to target Chinese-made medical devices, aircraft parts and flat-screen televisions with up to $50 billion in tariffs; China responded with a $50 billion threat on American soybeans, cars, and chemicals; hours later, Trump ordered his administration to consider $100 billion in new tariffs in response to Chinese retaliation.

In another tweet on Saturday, Trump again claimed unfair Chinese trade practices.

“The United States hasn’t had a Trade Surplus with China in 40 years,” the president said. “They must end unfair trade, take down barriers and charge only Reciprocal Tariffs. The U.S. is losing $500 Billion a year, and has been losing Billions of Dollars for decades. Cannot continue!”

Source: https://www.usatoday.com/story/news/politics/2018/04/08/donald-trump-vows-friendship-china-but-also-victory-trade-tariffs-mount/497049002/

The post Donald Trump vows friendship with China – but also victory on trade as tariffs mount first appeared on Garner Ted Armstrong Evangelistic Association.