Newshour
China and US agree major tariff cuts
May 12, 2025
The discussion dives into a major agreement between China and the U.S. that cuts tariffs significantly, aiming to ease trade tensions. Economist Alicia Garcia Herrero shares insights on the implications for global trade. The podcast also confronts allegations of unlawful killings by UK Special Forces, revealing troubling testimonies from veterans. Additionally, it highlights the disbanding of the Kurdish militants PKK and explores the refugee situation of Afrikaners in the U.S., raising questions about international relations and social dynamics.
48:20
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Quick takeaways
- The temporary tariff reductions between the US and China highlight a recognition of economic strain, yet uncertainties remain about long-term effects.
- While the agreement offers relief to some US businesses, economists suggest that the primary beneficiary appears to be the Chinese economy.
Deep dives
Temporary Trade Truce Between the U.S. and China
The United States and China have agreed to a temporary reduction in tariffs on each other's goods for a period of 90 days, signaling a pause in their ongoing trade war. This agreement comes after both nations recognized the economic strain high tariffs had placed on both sides, with U.S. Treasury Secretary Scott Besant emphasizing that a decoupling was undesirable. The tariffs have now been lowered to around 30% for U.S. imports from China and 10% for Chinese goods heading to the U.S. Although this deal brings some relief to businesses affected by the tariffs, uncertainties remain regarding its long-term impacts.
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