Economist Podcasts Duty falls: US and China reach a deal
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May 12, 2025 
Join Simon Cox, The Economist's China economics editor, David Adam, a science writer, and Oliver Carroll, a foreign correspondent based in Kyiv, as they delve into pressing global issues. They discuss the newly reached US-China trade deal and its implications amidst previous tariff escalations. Tune in for insights on Ukrainian President Zelensky's challenging call for peace talks with Russia, alongside a fascinating exploration of how new audio compression techniques may be impacting our hearing. It's an informative and dynamic discussion!
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US-China Tariff Truce
- The U.S. and China agreed to cut tariffs drastically for 90 days, lowering from up to 125% to about 10%. - This truce surprised markets positively and signals a temporary easing in trade tensions.
Tariff Cuts Benefit Both Economies
- Cutting tariffs benefits both countries' economies rather than conceding to the other side. - This tariff balance struck somewhat favors China versus the situation in April but overall reduces harm.
Short-Lived Tariff Agreement
- The 90-day tariff deal is brief, signaling a fragile truce rather than a comprehensive resolution. - Deep-rooted trade grievances and structural economic issues remain unresolved, risking future conflicts.