US Trade Deals Face Skepticism Amid Ongoing Tariffs

The U.S.-U.K. trade deal announced by President Trump has been met with skepticism by experts, who note that a 10% tariff on U.K. imports remains in place, which could lead to higher costs for U.S. businesses and consumers. While the deal is seen as a modest improvement, it is still worse than the pre-Trump status quo. Economists warn that the ongoing trade war and high tariffs could lead to a recession, and that the uncertainty over tariff policies is causing anxiety for businesses and investors. The Trump administration's efforts to strike new trade deals may provide some relief, but the ultimate level and duration of tariffs remain a concern.

US President Donald Trump reported 'great progress' in trade talks between the US and China after the first day of negotiations in Geneva, Switzerland. The talks, led by US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng, aim to ease the trade war sparked by Trump's tariffs. Despite optimism, economists warn that reducing tariffs may not immediately lower prices or restore trade levels. The trade war has significantly impacted both economies, with US imports from China expected to drop 75-80% and Chinese exports to the US falling 21% in April.

The article discusses an interview with Stephen Miran, the chair of President Trump's Council of Economic Advisers, on the administration's economic policies, particularly regarding trade with China and tariffs. Miran defends the president's unconventional moves, stating that the U.S. economy can sustain the current tariffs on China and that the administration is focused on creating a more competitive environment for businesses. Miran also discusses the administration's deregulation drive, its approach to addressing the housing shortage, and its goals for reshoring manufacturing. The article highlights the administration's mixed messaging on trade deals and the potential impact on the economy.

Top economic officials from the US and China are meeting in Geneva to discuss high-stakes negotiations regarding President Trump's trade war and tariffs imposed on Chinese imports. The talks come after China retaliated with its own levies on US goods, effectively cutting off trade between the world's largest economies. While expectations for a breakthrough are low, the fact that both sides are talking has raised hopes for a potential reduction in tariffs and de-escalation of trade hostilities.