Well, howdy there, Internet people. It's Bell again.

So today, we're going to talk about Trump folding to China.

In the middle of the night, US time, news broke that was immediately heralded as a trade breakthrough in the U.S. Chinese talks.

Let's go over that news first before we dive into the

glaring issues, not only moving forward, but also the glaring issues with the past. Both U.S.

and China have agreed to lower their reciprocal tariffs to 10% for the next 90 days. Just what the job market and the stock market needed,

another three months of uncertainty. Now, it's worth noting that before Trump took office,

the average effective tariff was 13%. But Trump added an additional 20% levy on Chinese goods because he believes they weren't doing

enough about illicit substances coming into the country. That 20% addition will remain in place.

So when all the math is done, the current tariff on Chinese goods will be about 30%, which is up from 13%. The two countries also agreed to

continue talking. That's it. That's the major trade breakthrough. So for the future, that means

months more of uncertainty. So why did he cut the tariffs? He'll probably say he did it because they were being nice.

But China was demanding the tariffs be dropped to continue talking even before the talk started.

That was their demand, as we've covered from the beginning. They've been pretty consistent.

If you want to talk, you have to get rid of the tariffs.

Trump got rid of the tariffs.

And now they're going to talk.

The U.S. is announcing a major trade breakthrough that is really, hey, we did what they wanted.

On the upside, it does look like the administration realized their mistake before it sent us into a

deflationary spiral. So that's good, I guess. But what about the past? We've covered layoffs,

supply disruptions, price increases, stock market corrections, and just tons of economic chaos, damaging the U.S.

economy since Trump introduced his April 2nd reciprocal tariffs.

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