this post was submitted on 12 May 2025
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In a media briefing after a second day of talks with U.S. negotiators on Sunday, Chinese Vice Premier He Lifeng said trade talks with the U.S. “achieved substantial progress and reached important consensus.”

China said that it will release a joint statement with the U.S. on Monday regarding the agreement reached on Sunday.

“The two sides agreed on establishing a consultation mechanism for trade and economic issues, identify the lead persons on each side, and will carry on further consultations relating to trade and economic issues of their respective concerns,” the Chinese vice premier said.

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[–] workerONE@lemmy.world 10 points 4 hours ago

In reality a 125% tariff isn't possible. An item with a $10 landed cost would suddenly cost like $22.50 so if the item sold to the end user for $13 before, now it will be $25.50 just to keep a $3 profit margin. Now your up front investment has doubled which drains cash flow. Your sales will drop.

It's essentially a trade embargo. It's not possible to enact in reality.

[–] randon31415@lemmy.world 20 points 6 hours ago

Translation: "We both agree: Trump should not be negotiating this".

[–] Bonesince1997@lemmy.world 16 points 7 hours ago

A concept of a deal, you might say.

[–] TransplantedSconie@lemm.ee 49 points 9 hours ago (1 children)

Shelves will be empty in 2 weeks. Should be interesting seeing the pretzels and knots the Cult of Stupid tie themselves into to explain that shit.

[–] Steve@startrek.website 27 points 9 hours ago (2 children)

The long dark shadow of old crooked Joe

[–] skozzii@lemmy.ca 28 points 9 hours ago (1 children)

If you think it's bad now wait till you see what Joe has planned for the next 3 years... he has set up roadblocks every step of the way to make Trump seem incompetent and like he doesn't even have a plan!

[–] Daggity@lemm.ee 3 points 2 hours ago

Incredible when we all know he’s been a vegetable for decades now!

[–] toy_boat_toy_boat@lemmy.world 10 points 9 hours ago

god, now you've got my imagination working..

not only are they going to blame him for the "mess" that trump inherited, they're going to punish him for it. they're just waiting until after november. fucking chills, man.

[–] rimu@piefed.social 35 points 9 hours ago* (last edited 9 hours ago) (3 children)

That's not a deal that's an agreement on the pre-conditions necessary to begin talking about a deal.

[–] swab148@lemm.ee 2 points 36 minutes ago

A concept of a deal

[–] joekar1990@lemmy.world 10 points 8 hours ago

Same thing with the UK deal…it’s just a framework but nothing is signed or agreed upon.

[–] HK65@sopuli.xyz 10 points 8 hours ago* (last edited 8 hours ago)

So to translate it to Russian for the US right wing, they already have got the absurdly long table, but Putin is still laughing about being late from the meeting with them in a talkshow instead of coming to talk.

[–] MuskyMelon@lemmy.world 21 points 9 hours ago

Sounds like a "maybe" to me and a "maybe" in Chinese culture means a "no".