WASHINGTON, D.C. – China’s leaders in Beijing are now agreeing to trade negotiations with the U.S., quietly backing away from a tariff war.
Late on Tuesday evening, China and the U.S. announced plans for talks between Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng later this week in Geneva, Switzerland.
“Look, they’re suffering greatly. Their economy is suffering greatly because they’re not doing trade with the U.S. and they made most of their money off the U.S. Don’t kid yourself,” said President Trump during his Oval Office meeting with Canadian Prime Minister Mark Carney on Tuesday.
Trump told reporters the Chinese are not doing business and ships full of goods from China are turning around in the Pacific Ocean.
“It has to retreat, China is now increasingly in chaos,” said Steven Mosher, president of the Population Research Institute.
On CBN’s Faith Nation, Mosher said China has been quietly relaxing its tariffs on more than 130 types of American goods.
Recent reports show huge piles of containers that missed the tariff deadline still sitting in Chinese ports. Cargo bookings are down by almost half, and thousands of Chinese factory workers are laid off. At this rate, Mosher believes it will only get worse.
“You’re going to have in the next couple of weeks ten million (Chinese) workers who have lost their jobs, who don’t get severance pay. Some of them haven’t been paid for months,” Mosher said.
He predicts rising job losses will leave employees with no choice but to take to the streets in protest of Xi Jinping’s government. “There’s increasing unrest in China’s cities and it’s not just the factories that produce goods that sell to Americans that are shutting down,” said Mosher.
This week Beijing announced its latest offer to stop the flow of fentanyl into the U.S. in exchange for lowering tariffs. Mosher, however, strongly supports tariffs against China remaining in place.
“Let’s buy goods made in India or Mexico or the United States and, you know, restore our supply lines here to our own country,” he said.
During that Oval Office meeting with Canada’s prime minister, President Trump said he’s not ready to drop tariffs on the U.S.’s neighbor to the north.
Meanwhile, Carney, in response to months of Trump’s rhetoric calling his country “the 51st state,” told the president that Canada “is not for sale.”
