President Trump's tariffs imposed on Chinese goods have effectively pressured Beijing amidst its economic struggles, leading to significant concessions from China. Despite being in a strong position with low domestic inflation and growing jobs, Trump opted to ease the tariffs from 145% to 30%. China's leader Xi Jinping was driven to negotiate after facing severe economic decline, with millions harmed due to escalating bankruptcies and unemployment. The urgency prompted a series of clandestine meetings that resulted in China lowering its tariff rate to 10% on US goods and halting fentanyl exports, addressing mutual economic concerns.
Trump's 145% tariffs dealt a heavy blow to China's economy, which is already struggling with unemployment and debt. However, he decided to pause rather than escalate.
China's desperation for a deal led to significant concessions, including a reduction of their tariff rate on US goods to 10% and an end to fentanyl exports.
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