For the next 90 days, the two countries will temporarily ease tariffs on each other’s goods. But what does that mean for the broader economy and the damage already done?
The U.S. and China have agreed to temporarily rollback on some tariffs. Adam Posen, president of the Peterson Institute for International Economics, puts today’s deal into context.
“What these factory owners are making is a point that, even with the tariff, it is still going to be drastically cheaper than when you’re buying from the brand directly,” said Caiwei Chen, a China reporter for MIT Technology Review.