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The Guardian - US

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Robert Reich

I was secretary of labor. Trump’s bizarre tariff scheme won’t revive American jobs

America Donald Trump Mining United States Coal

red truck drives on road next to area with stacks of cargo containers — ‘The reason those manufacturing and mining jobs paid far better was because they were unionized.’ Photograph: Carlos Barría/Reuters

On Sunday night, the US announced that it was cutting tariffs on Chinese imports from 145% to 30%, for 90 days, and the Chinese are dropping tariffs on US goods from 125% to 10%, also for 90 days.

The stock market soared on the news. (Anyone with inside knowledge of the deal could have made a killing.)

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