Overview

• President Trump stated that the U.S. and China are engaged in trade talks, with confidence that a deal could be reached in three to four weeks, though specifics remain unclear.
• The administration has paused reciprocal tariffs for most nations for 90 days, excluding China, which still faces steep 145% tariffs on goods.
• China has retaliated with 125% tariffs on U.S. goods, prompting American farmers and businesses to voice concerns over rising costs and reduced export opportunities.
• Customs and Border Protection data show tariff revenue averaging $250 million per day, far below President Trump's claim of $2 billion daily.
• Federal Reserve Chair Jerome Powell warned that the tariff policies could increase inflation and slow economic growth, adding to uncertainty for businesses and consumers.