UPDATE: The U.S. and China just inked a temporary tariff rollback, announced in a joint White House statement Monday, May 12, 2025, proving Trump’s hardball tactics are paying off big time. After a weekend of intense talks in Geneva, both sides agreed to a 90-day suspension of most levies slapped on since early April, with the statement touting “mutual opening, continued communication, and respect”—fancy words for China finally bending to Trump’s pressure.
Treasury Secretary Scott Bessent, fresh from the Geneva negotiations, told reporters the deal slashes U.S. tariffs on Chinese goods from 145% to 30%, while China drops theirs on American imports to 10%, giving both sides three months to hash out more. China’s also easing non-tariff barriers, like resuming rare-earth exports for our tech industry, per High Frequency Economics. Markets are loving it—Dow futures jumped 2%, and Bitcoin hit $104,094—but don’t expect the media to give Trump credit; they’re too busy crying “global stability” to admit he’s winning again!
Looks like Treasury Secretary Scott Bessent wasn’t just blowing hot air about a China trade deal during those Switzerland talks, as Bob Hoge pointed out. The White House dropped a press release this afternoon, May 11, 2025, crowing about a “China Trade Deal in Geneva”, and I’m sure they’re itching to pat themselves on the back for it.
Well, folks, this Geneva trade deal is a blockbuster, in fact it’s “Yuge!” But I’d bet my last dollar it’ll be swept under the rug faster than a Democrat promise after election day. Why? Because Trump was right —again — and that’s a bitter pill for the narrative-pushing newsrooms to swallow.
They’d rather bury a win for America than admit the man they love to hate is getting it done, proving once more that the so-called “mainstream” media can’t handle the truth when it doesn’t fit their script. You won’t catch me holding my breath for their headlines….. I’d rather trust a rattlesnake not to bite! And when they do write their blurbs it’ll be about how he should have gotten a better deal. The rest is still to come…….
Bessent says we’ll get the nitty, gritty on Monday morning, but here’s what he had to say for now:
“I’m pleased as punch to report we made real headway with China in these trade talks. Big thanks to our Swiss hosts, they rolled out the red carpet, and I reckon that helped us get a lot done. We’ll spill the beans tomorrow, but let me tell you, the talks were solid. We had their vice premier, a couple of vice ministers, Ambassador Jamieson, and me around the table. I gave President Trump a ring last night, Jamieson too, and he’s in the loop. Full briefing’s coming tomorrow morning.”
Last week, Trump took a step back, leaving the heavy lifting to Bessent and U.S. Trade Representative Jamieson Greer. Greer chimed in today with:
“Like the Secretary said, these past two days were a real win. We came to terms faster than you’d think, which just shows the gap between us wasn’t as wide as folks figured. Still, we put in a ton of prep work. Let’s not forget why we’re here, the U.S. is staring down a $1.2 trillion trade deficit, so the President called it a national emergency and slapped on tariffs. We’re confident this deal with China will help us dig out of that mess.”
Word on the street Saturday was that tariffs on Chinese goods might drop to around 80% from the current 145%, but we’ll know for sure come Monday. Stay tuned, patriots!