2025-05-16
44 分钟The Economist.
It's been another busy week in global trade.
I'm happy to report that we've made substantial progress between the United States and China in the very important trade talks.
On Monday,
after a weekend of haggling at a lakeside residence at a Swiss ambassador to the UN in Geneva,
US Treasury Secretary Scott Besson emerged with some good news.
We have reached an agreement on a 90-day pause and substantially moved down the tariff levels.
Indeed,
America had slashed what had been a prohibitive 145% tariff on China to a more affordable 30%,
while China cut its own levies from 125% to 10%.
It was a welcome ceasefire in the trade war, and markets dutifully rallied.
Take a look at the Dow right now, up more than 940 points.
Investors are really breathing a big sigh of relief right now.
The S&P 500 is set to erase all of its post-liberation day losses.
So, crisis over?
Well, not quite.
First of all, this is only a 90-day pause.
After that, if there's no further deal, the tariffs will surge again.
And secondly, before last weekend's breakthrough,
the trade war had begun to escalate way beyond just tariffs,