U.S. and China hit pause on tariff war

Marketplace

American Public Media

Business, News

4.6 • 8K Ratings

🗓️ 12 May 2025

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

For the next 90 days, the two countries will temporarily ease tariffs on each other’s goods as trade talks continue. But what does this deal mean for the broader economy? Marketplace's Kai Ryssdal sits down with Adam Posen from the Peterson Institute for International Economics to discuss the damage that's already been done. Also on the show, how soybean farmers feel about the latest trade deal and why Chinese manufacturers are trying to reach American consumers via TikTok.

Transcript

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0:00.0	You can turn to Marketplace to hear from powerful leaders and everyday people about the economy and their roles in it.
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0:13.5	As a public media program, donations from you are a critical part of our budget.
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0:20.9	lasting impact. Start a monthly donation to support our work. Five bucks a month is a great place to
0:25.7	start. Head to Marketplace.org slash donate. And thanks.
0:31.5	You've got 90 days to figure out what is going on in this economy. Ready?
0:38.2	Go.
0:40.6	From American Public Media.
0:43.3	This is Marketplace.
0:53.0	In Los Angeles, I'm Kyle. I'm Kyle Rdall Monday, today 12 May.
0:56.1	Good as always to have you along, everybody.
0:58.1	90 days from today puts us at the 10th of August.
1:02.6	And in between now and then, American businesses and consumers have to figure out how they are going to handle the temporary and partial easing of the near total
1:12.0	trade embargo between the United States and China that was announced this morning. That is
1:16.2	thing number one of interest. Thing number two is what, if anything, today's news is going to
1:21.8	mean big picture for the damage already done. That's what we've gotten Adam Posen on the phone
1:27.3	to talk about.
1:27.9	He's the president of the Peterson Institute for International Economics. Adam, thanks for coming on.
1:33.0	Good to be back with you, Kai. So you woke up this morning, you saw the news. What did you think?
1:39.3	A few things. First, we went from being in a failed economic policy to a D plus or maybe C-minus economic policy, so that's progress.
1:50.4	Second, that we are still worse off than before Trump started the trade war with China.
	...

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