The United States President Donald Trump’s shock-and-awe tariff approach threatened to rupture the global financial system and drive the US economy into recession.
CNN News reported that, nervous about the prospect of empty store shelves and reignited inflation, Trump sent his even-keeled and professional negotiators to Geneva to snag a win.
They say an unexpectedly dramatic de-escalation with China laid the groundwork for a growing series of trade negotiations that may produce a handful of rapid-fire, if less-than-fulsome, bilateral agreements to reduce US trade deficits.
They add the decision by both the United States and China to drop stratospheric tariffs by 115 percentage points after two days of talks marked the most significant development in a policy approach that has been equal parts maxima list and messy.
Source: CNN News
