Back to today’s briefing

Story perspectives

Trump Keeps 145% Tariffs as Trade Talks Loom

5/8/2025

23 5

Summary

Story summary

President Trump will maintain the 145% tariffs on Chinese goods ahead of trade talks in Switzerland.
China is willing to meet but demands the U.S. reduce tariffs first, showing a firm position.
The trade war continues to affect both economies, raising concerns about recession and empty retail shelves in the U.S.

History

Historical Context

The U.S.-China trade war, initiated in 2018 under President Trump, has escalated with tariffs impacting both economies. Historically, similar protectionist measures, like the Smoot-Hawley Tariff Act of 1930, worsened the Great Depression. Current tariffs threaten supply chains and consumer prices, raising fears of recession and empty retail shelves, echoing past economic turmoil linked to trade disputes.

1 of 2

Story summary

President Trump will maintain the 145% tariffs on Chinese goods ahead of trade talks in Switzerland.
China is willing to meet but demands the U.S. reduce tariffs first, showing a firm position.
The trade war continues to affect both economies, raising concerns about recession and empty retail shelves in the U.S.

1 / 2