US weighs plan to slash China tariffs to as low as 50% as soon as next week: sources
New York PostMAY 9
US Announces China Trade Deal, Offers No Details
Above: Scott Bessent leaves his hotel for a meeting with Chinese officials in Geneva on May 10, 2025. Image copyright: Fabrice Coffrini/Contributor/AFP via Getty Images
The Spin
Republican narrative
Washington always had the upper hand in this trade war, as Trump's tariffs severely impact the U.S.-dependent Chinese economy. Beijing was desperate to make a deal, and that's how the White House reached an agreement with no more than two days of talks.
Democratic narrative
It remains unclear what this deal will bring to the U.S., as the Trump administration has no clear goals in this disastrous trade war. There is quite a difference between reducing the trade deficit, forcing China to change its industrial policies, and decoupling. If anyone is in despair, it's Trump.