Subject: New Tariff deal with China ???
I'm hearing that Trump says he reached a new trade agreement with China.
Odd that this didn't lead to a stock market blast off.
I hope this agreement lasts longer than the Gaza cease fire did.
Some quotes from Trump:
https://abcnews.go.com/Interna...
"Trump said the 20% tariffs on China related to fentanyl were being reduced to 10%, bringing the total amount of duties imposed on Chinese imports from 57% to 47%.
Trump said he agreed to reduce the tariff rate because China had agreed to "work very hard to stop the flow" of fentanyl."
"Trump also said Xi had "authorized China to begin the purchase of massive amounts of Soybeans, Sorghum, and other Farm products."
"We have a deal now," Trump told reporters. "Every year we'll renegotiate the deal, but I think the deal will go on for a long time, long beyond the year. We'll negotiate at the end of the year."
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To me, there is no sense in trying to get a hard number on what the actual
tariff amount on Chinese products that American businesses and Consumers will be
paying, as it seems to be always changing. But Wall St sure is not
acting like it's all that impressed.
So Trump has promised that China will be purchasing "massive amounts"
of US AG products. If I was a US Farmer, I'd be holding him to that boast.