Reset the trade relationship back to where it was
Reset the trade relationship back to where it was: Tom Essaye Quoted in Barron’s
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The White House now says that trade negotiations with China are over, even though the latest agreement from London “did little other than to reset the trade relationship back to where it was following the Geneva talks and, importantly, didn’t result in any further tariff reduction,” notes Sevens Report President Tom Essaye.
That means consumers will face at least 30% tariffs on Chinese imports and additional 25% on select goods and “according to the administration, they are going to stay there in perpetuity,” he notes. “Yes, ultimately Chinese tariffs were lower compared to the 145% absurdity in early April. But, they are much, much higher than at the start of the year.”
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