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US and Chinese trade representatives are set to meet in Geneva this weekend for their first face to face meeting in an attempt to deescalate the trade war. Most goods shipping from China to the United States have a 145% tariff, while most US exports to China are being hit with a 125% tariff. On Friday, President Donald Trump suggested lowering the tariff rate with China to 80%, but said the final terms would be up to Treasury Secretary Scott Bessent.
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For consumers, who are facing higher prices or shortages of certain items, Cordero says a deal can’t come soon enough.
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“If things don’t change quickly, I’m talking about the uncertainty that we’re seeing, then we may be seeing empty products on the shelves. This is now going to be felt by the consumer in the coming 30 days,” said Cordero.

Upwards of 63% of the cargo that flows into the Port of Long Beach is from China — the largest share of any US port. But that number is down from 72% in 2016 as retailers shift away from China over simmering trade tensions.

Even so, China still represents a major source of imports into the United States. Maersk, the second largest shipping line in the world, told CNN the cargo volume between the United States and China has fallen by 30-40% compared to normal.

“If we don’t start to see a de-escalation of the situation with China, if we don’t start to see more of those trade deals, then we could be in a situation where some of these effects get more entrenched and are more adverse,” said Maersk CEO Vincent Clerc.

US and Chinese trade representatives are set to meet in Geneva this weekend for their first face to face meeting in an attempt to deescalate the trade war. Most goods shipping from China to the United States have a 145% tariff, while most US exports to China are being hit with a 125% tariff. On Friday, President Donald Trump suggested lowering the tariff rate with China to 80%, but said the final terms would be up to Treasury Secretary Scott Bessent.
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For consumers, who are facing higher prices or shortages of certain items, Cordero says a deal can’t come soon enough.
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“If things don’t change quickly, I’m talking about the uncertainty that we’re seeing, then we may be seeing empty products on the shelves. This is now going to be felt by the consumer in the coming 30 days,” said Cordero.

Upwards of 63% of the cargo that flows into the Port of Long Beach is from China — the largest share of any US port. But that number is down from 72% in 2016 as retailers shift away from China over simmering trade tensions.

Even so, China still represents a major source of imports into the United States. Maersk, the second largest shipping line in the world, told CNN the cargo volume between the United States and China has fallen by 30-40% compared to normal.

“If we don’t start to see a de-escalation of the situation with China, if we don’t start to see more of those trade deals, then we could be in a situation where some of these effects get more entrenched and are more adverse,” said Maersk CEO Vincent Clerc.

Elon Musk stood next to President Donald Trump in the Oval Office on Friday, but the physical proximity belied a growing philosophical divide between two of the world's most powerful men, resulting in the tech mogul's abrupt announcement that he is departing Washington — without having achieved his goal of decimating the federal government.
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Trump took a more charitable view of Musk's tenure during a sprawling news conference in which he also declined to rule out pardoning Sean "Diddy" Combs, who is on trial on charges of sex trafficking and other alleged crimes; said he dislikes "the concept" of former first lady Jill Biden being forced to testify before Congress about her husband's mental fitness; and predicted again that Iran is on the cusp of making a deal that would suspend its pursuit of nuclear weapons.
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In a battle of plutocrats against populists, Bannon, a longtime advocate for reducing the size and scope of government, found Musk's methods and policy preferences to be sharply at odds with those of the MAGA movement. So, ultimately, did Musk, who broke with Trump repeatedly on agenda items as narrow as limiting visas for foreign workers and as broad as Trump's signature "big beautiful" budget bill — which Musk belittled for threatening to add trillions of dollars to the national debt.

“I was, like, disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decrease it, and undermines the work that the DOGE team is doing," Musk said in an interview with CBS' "Sunday Morning," which will air this weekend.
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"I love the gold on the ceiling," he said.

Musk has argued that inertia throttled his efforts to reduce government spending — a conclusion that raises questions about whether he was naive about the challenge of the mission he undertook.

“The federal bureaucracy situation is much worse than I realized,” he told The Washington Post this week. “I thought there were problems, but it sure is an uphill battle trying to improve things in D.C., to say the least.”

On Friday, he drew an implicit parallel between American government and the Nazi regime that committed a genocide, invoking the "banality of evil" that Hannah Arendt used to describe the atrocities in Germany.
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