China, Trump and tariffs
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The Supreme Court will hear arguments tomorrow about birthright citizenship. How we got here: Trump tried to ban giving U.S. citizenship to children born to foreign visitors and undocumented immigrants. After judges stepped in, he appealed to the high court.
Tariff rates on small packages from China will be cut in half, though a flat-fee option will not change, the White House said Monday. Why it matters: Trump previously ended a loophole that allowed low-value goods into the country tariff-free — the rate reversal will ease price pressures on customers of Chinese retailers like Shein and Temu.
Beijing is trying to win over other countries with vows of economic cooperation. But it won’t back down from its territorial claims, experts predict.
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.
After second day of talks with the U.S., Chinese Vice Premier He Lifeng said trade talks with the U.S. “achieved substantial progress and reached important consensus.”
The move by the Trump administration to lower tariffs on goods from China to 30% from 120%, still offers limited reprieve for US small businesses, who remain cautious as tariffs are still sky high by historical levels and are also pressuring profits.
Here's what an agreement by the U.S. and China to suspend steep tariffs for 90 days means for consumers, businesses and the economy.