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Trump Says Tariffs on China Could Be Lowered to 80%
Above: President Donald Trump speaks to members of the media outside the West Wing of the White House in Washington, D.C. on May 8, 2025. Image copyright: Bonnie Cash/Contributor/Bloomberg via Getty Images
The Spin
Pro-China narrative
Trump is already folding on his misguided and quixotic tariff quest, as the U.S. side returns to reality. The current tariffs amount to an effective embargo, which would decimate U.S. consumers. China welcomes these concessions before the U.S., China, and the world at large suffer dire economic consequences, and looks forward to productive conversations over the weekend.
Republican narrative
In spite of domestic doomsayers, Trump's tactics have worked marvelously to bring an adversarial trading power to the negotiating table to make real progress on the issues affecting the people of the U.S. From drugs to the destruction of manufacturing power, the tariffs present a real chance to reinvigorate America's standing globally. We are now one step closer to a better trading arrangement with China.
Democratic narrative
This is a heartening sign that Trump's tariff Armageddon may not fully come to pass. Bessent has shown himself to be more moderate on trade than Trump, and the admission that the current rates are unsustainable bodes well for the American economy. Still, this charade has harmed America's global standing, shaken investor confidence, and has perhaps irreparably damaged U.S.-China relations and global supply chains.