...for all the glory and bravado about setting tariff fairness with China, an apparent mousy trade deal signed without fanfare and without Trump in centre stage would suggest total capitulation by US in the tariff negotiation - possibly a large winding back to 10-20% and normalisation of most things pre-Liberation Day.
...the thing with Trump is that he is doing things for his personal glory, he wants to exaggerate his 'winnings' and downplay or erase his 'losing'; if it was done as conviction for national interest, he would and should persist with his desire for 'fairness', but in truth he does not have the cards or enough cards especially in relation to rare earths and US Treasuries (selldown) so he has to back down quietly (and hopefully everyone forgets and does not take notice, distracted by events in the Middle East).
...now few Twitter posts have been made about tariffs, TACO etc.
...fair to say his economic policies to date have yet to yield positive material change for the US and global economy. US, China have finalised tariff understanding, Lutnick says
Bloomberg
The US and China have finalised a trade understanding reached last month in Geneva, US Commerce Secretary Howard Lutnick said.
Lutnick said on Thursday (Friday AEST) in an interview with Bloomberg “that deal was signed and sealed two days ago.” He did not offer further details on the paper’s contents.
President Donald Trump said earlier during a White House event that “we just signed with China yesterday” without explaining what he was referring to.
