News Page

Main Content

Racing for Trade Deals

The New York Times's profile
The New York Times
12h ago

President Trump has ended the 'de minimis' exemption, which allowed Chinese goods to bypass U.S. tariffs, leading to increased prices for consumers using platforms like Amazon and Shein. In pursuit of new trade deals to avoid steep levies, his administration is negotiating with over a dozen countries, though the complexity of these agreements makes their swift conclusion unlikely. Trump's trade strategy relies on leveraging tariffs, yet longstanding trade disputes and a significant U.S. trade deficit present challenges. The ongoing standoff with China has halted much trade, as Beijing retaliates with its own tariffs, creating economic strain. Amid these trade negotiations, Trump's administration is also addressing other political and international issues, including immigration policies and funding cuts to educational institutions.

Racing for Trade Deals

President Trump has closed the 'de minimis' exemption, which previously allowed Chinese goods to enter the U.S. without tariffs, a move that will likely increase prices on consumer platforms such as Amazon, Shein, and Temu.

The Trump administration is actively negotiating with over a dozen nations, including India, South Korea, and Japan, to establish trade deals that would allow them to avoid significant tariffs, with a negotiation deadline set for July 8.

Despite efforts to negotiate new trade agreements, the complexity and time-consuming nature of these deals make it improbable to reach comprehensive agreements by the imposed deadline, given that typical trade deals take years to finalize.

The U.S. trade deficit remains a focal point of Trump's trade policy, but it is unlikely that the limited scope of these deals will significantly impact the overall deficit, which involves buying more goods from other countries than selling to them.

The trade standoff with China remains a significant challenge, as U.S. tariffs have led to mutual economic strain, with Beijing refusing to concede and focusing on strengthening trade ties elsewhere, while American companies reliant on Chinese trade suffer.

In addition to trade matters, the Trump administration is dealing with various political issues, including immigration laws affecting Venezuelans, threats of funding cuts to universities, and changes in the national security advisory roles.

Internationally, figures like Nigel Farage are gaining attention amidst local elections, and there are reports of targeted political violence in Kenya, while the CIA seeks to recruit Chinese officials through public means.

Latest News

Around The Web