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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[–] rimu@piefed.social 41 points 11 months ago* (last edited 11 months ago) (3 children)

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

[–] HK65@sopuli.xyz 12 points 11 months ago* (last edited 11 months 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.

[–] joekar1990@lemmy.world 11 points 11 months ago

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

[–] swab148@lemm.ee 2 points 11 months ago

A concept of a deal

[–] randon31415@lemmy.world 22 points 11 months ago

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

[–] MuskyMelon@lemmy.world 20 points 11 months ago

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

[–] Bonesince1997@lemmy.world 16 points 11 months ago

A concept of a deal, you might say.

[–] workerONE@lemmy.world 14 points 11 months 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.