Trump’s biggest win isn’t a trade deal — it’s his distortion of reality
CNN
We now have a 90-day detente in a manufactured crisis: The US has lowered its 145% tariffs on Chinese imports to 30%, and China has reduced its 125% tariffs to 10%.
Tracking the trade war in 2025 feels a bit like getting repeatedly punched in the gut. We suddenly have a 90-day detente in a manufactured crisis: The US has lowered its 145% tariffs on most Chinese imports to 30%, and China has reduced its 125% tariffs to 10%. In the distorted reality of Trump 2.0, that slightly lighter punch in the gut is what counts as relief. (For the “Arrested Development” fans out there: Remember when Gob keeps punching Buster as a motivational tactic, saying, “Now, when you do this without getting punched, you’ll have more fun”? That’s more or less how businesses are feeling.) Markets soared on the China news Monday, recouping all the losses that had piled up after the president’s April 2 tariff rollout. But let’s be clear: Wall Street is cheering not because 30% tariffs are such great news — they’re cheering because it looks like President Donald Trump may not have the stomach for his own radical economic policy after all.
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