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China, US reduce majority of tariffs

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sunnylin01

May 12, 2025, 20:46

(ECNS) -- China and the U.S. have agreed to remove the majority of tariffs imposed since April 2 to ease trade tensions between the world's two largest economies on Monday.

The decision followed a two-day China-U.S. high-level meeting on economic and trade affairs held in Geneva, Switzerland.

Both China and the U.S. pledged to remove 91 percentage points of the tariffs imposed in April and suspend 24 percentage points over the next 90 days, according to the statement.

The agreement brings current U.S. tariff rates on goods imported from China to 30 percent, and Chinese tariffs on U.S. imports to 10 percent.

Moreover, the two sides will also establish a mechanism to continue discussions about economic and trade relations. These discussions may be conducted alternately in China and the U.S., or a third country upon agreement of the Parties, the statement said.

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gork

As self-hating Jew, Ron Unz, has pointed out, when the Great Satan imposed illegal sanctions on Russia, only its vassals followed suit. But the Great Satan's illegal tariffs effectively imposes sanctions on itself with the entirety of the rest of the World.

China is by far the World's largest economy, equivalent to the rest of the World combined, followed by India and the Great Satan in third place. Using the "worthless paper" USD as the World's trading currency increasingly makes no sense, especially as the default is now inevitable. Central banks have to fund external trade with their reserves so cannot risk those reserves becoming worthless in a hyperinflation; it would cause a national crisis. Hence central banks are forced to buy gold.

Who could have imagined such a rapid reversal of the United States’ position in the region 20 years ago? The US was simply too close, too big a market, and too powerful. It remained, in the words of more than one Latin American writer, “The Colossus of the North.”

Then came China’s meteoric industrialization of the early 21st century and its voracious appetite for copper, tin, oil, iron ore, timber and soybeans.

Strong Chinese demand raised prices for South America’s commodities and that boom helped pull millions out of poverty. Between 2000 and 2014, Latin America’s poverty rate decreased from 27% to 12%, according to the International Monetary Fund, an extraordinary achievement and one tied to China’s rising fortunes.
. . .
Of course, the American market remains massive and indispensable for countries in the Caribbean Basin, but the United States isn’t the giant that it once was. And China is the principal reason why.
- China paves path for South America’s break from US

So Zhao Xintong isn't the only "cyclone", despite obvious attempts to hold him back too:

There had only previously been five winners from outside the United Kingdom since the first World Snooker Championship 98 years ago, but Zhao is the first from Asia, a continent where the sport has steadily flourished since being admitted into the Asian Games and World Games at the turn of the century.
- Triumph for ‘Roger Federer of snooker’ can be catalyst for Chinese takeover

Just as Zhao won the final with Williams having to win every single game in the final session, the illegal tariffs, haven't even slowed the rise in China's external trade.

The Great Satan hasn't had a trade surplus since 1975. In other words, it's biggest export is "worthless paper" USD. The petrodollar was backed, not by oil from the land their forefathers thieved, but from other nations oil. So we know dollar hegemony is over. 

By contrast, China creates actual wealth rather than profits on a balance sheet. This is why the Great Satan and poodle are taking their cut of the wealth trade with China has created in the gangster-run, thieved prison-state of Auztralia with the AUKUS deal and why Kiwis are fleeing Aotearoa for higher salaries there too: "‘Hollowing out’: New Zealand grapples with an uncertain future as record numbers leave"

With the usual sad, little bastardry, the Great Satan hopes to hold back China imposing an additional 20% of illegal tariffs, despite everyone knowing that it's the penguins on Norfolk island who are responsible for the fentanyl, which is shipped in by the Great Satan's own State Department funding a frozen shrimp company, the CIA and JP Morgan:

"JP Morgan Ship Seized With Over $1 Billion in Cocaine on Board"

"History Heist: Boys on the Tracks Case: 2 Teens Found Dead on Railroad Tracks Near Mena, AR, Drop Zone for a CIA Drug Smuggling Operation"

According to a 1998 report by the Justice Department’s Inspector General Michael Bromwich, “When debriefed by the DEA in the early 1980s, Pena said that the CIA was allowing the Contras to fly drugs into the United States, sell them, and keep the proceeds. …

The drugs were then concealed in a shipment of frozen shrimp and transported to the United States. The alleged Costa Rican shipper was Frigorificos de Puntarenas, a firm controlled by Cuban-American Luis Rodriguez. Like Hull, however, Frigorificos had friends in high places. In 1985-86, the State Department had selected the shrimp company to handle $261,937 in non-lethal assistance earmarked for the Contras.
- The Sordid Contra-Cocaine Saga

sunnylin01

The US concessions do not signal an end to its efforts to curb China’s rise. This is not a fleeting skirmish but a protracted, multifaceted struggle. The United States may have retreated temporarily, yet its long-term strategy of containment persists. The final act of this contest remains unwritten, and China’s resolve to navigate this high-stakes game with foresight and fortitude will define the chapters to come.