US EditionLarry Summers: No question Trump blinked on China tariffs
- On Monday, the U.S. And China reached an agreement in Geneva to temporarily reduce tariffs and pause the trade war escalation.
- The deal followed months of high tariff impositions, with the U.S. Slashing import taxes on Chinese goods from 145% to 30% and China lowering tariffs on U.S. Imports from 125% to 10% for 90 days.
- Economist Larry Summers said Trump clearly 'blinked' on the trade war, noting China made no significant policy changes despite the tariff reductions.
- Summers assessed the odds of a U.S. Recession at close to 50%, welcomed the less aggressive stance, and credited U.S. Treasury Secretary Scott Bessent for the deal.
- While the tariffs ceasefire brought market relief, analysts warn China faces little pressure to offer major concessions and the global economy remains the ultimate beneficiary amid ongoing negotiations.
7 Articles
7 Articles
'It gave Susie a key window': Insiders reveal why Trump finally 'blinked' on China tariffs
President Donald Trump's top aides spent weeks working behind the scenes to persuade him to back down on China tariffs that had rattled global markets before they finally spotted an opening.White House Chief of Staff Susie Wiles, Treasury Secretary Scott Bessent and other aides told the president that the blue-collar workers that he considered to be his political base would be hurt if the tariffs weren't lowered, according to two source familiar…
Summers Salutes Bessent on China Deal, Says US Retreat Pragmatic
Former Treasury Secretary Lawrence Summers applauded the Trump administration’s walk-back from what he characterized as overly aggressive trade protection measures, singling out Scott Bessent in particular for his weekend work with China.
Larry Summers: No question Trump blinked on China tariffs
Former Treasury Department Secretary Larry Summers said Monday that there was no question that President Trump blinked when it came to the recent agreement on a 90-day pause between the United States and China on most tariffs imposed on each other since early last month. “I think it’s very clear that it’s President Trump who…
‘I Misunderstood’: Trump Admits Tariff Confusion in Rambling China Trade Speech
In a scattered speech on Monday, former President Donald Trump admitted he misunderstood key details about tariffs during trade talks with China — a rare moment of public confusion about a central issue of his presidency. Speaking to reporters, Trump described past negotiations with China but struggled with facts, timelines, and figures. At one point, he misstated the date of a supposed new tariff agreement, saying, “Both sides now agreed to red…
A trade war ends with Trump blinking
If you blinked, you might have missed the president who built his economic agenda on tariffs quietly turning the page on the U.S.-China trade war — for now — with barely a whisper of the fire and fury that he launched it with barely more than a month ago. No fanfare. No victory parade.Read more...
Coverage Details
Bias Distribution
- 67% of the sources lean Left
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
