Donald Trump caved on this.

Summary

Trump paused his reciprocal tariffs on Wednesday after a surge in bond yields, triggering sharp criticism—even from Fox News.

Fox Business’ Charlie Gasparino said the administration “capitulated” due to market pressure, with the 10-year Treasury yield hitting 4.5%.

Japan, not China, reportedly dumped U.S. bonds, worsening financial instability.

Despite no trade deals, Trump tried to claim a “win” and announced a 90-day pause on tariffs for most countries—except China, which now faces tariffs up to 125%.

  • supersquirrel@sopuli.xyz
    537·
    6 days ago

    This is a great example of why blind centrism always leads to fascism, centrists are always convinced the consequences have finally come for fascists when it is literally the next step in the fascists plan.

    • freely1333@reddthat.comEnglish
      191·
      5 days ago

      Also:

      Still have China stuff. They’ll likely make a deal but we will still have huge “per package” duties that will stay up. This means business can buy from China but it isn’t cost effective for individuals to. The goal is to go back to pre internet where the wealthy could get between you and SHEIN and scalp Chinese labor.

      Also I see a lot of dems and what not highly focused on tariffs with this “gotcha” mentality and not so many dems talking about the people getting disappeared off the streets or having their green cards revoked or the talk of disappearing us citizens.

      • pathos@lemmy.world
        6·
        5 days ago

        There is yet another dimension to this apparently: China has implemented new regulations regarding the export of their rare earth materials. Basically all high tech materials need these and the US has no alternative for some of these as China holds the de facto monopoly.

        • exixx@lemmy.world
          7·
          5 days ago

          This is the key. China doesn’t care, they have the US’s balls in a vise and will squeeze. Trump has already lost and just doesn’t know it yet.