'The price of trying to be a good guy'. Trump said China broke the deal with the US
US President Donald Trump said that China has completely violated the trade agreement concluded between the two countries. He wrote about this on his social network Truth Social.
According to Trump, a few weeks ago, China's economy was on the verge of a crisis due to high tariffs imposed by the United States.
Trade between the countries virtually stopped, causing mass factory closures and social tension in China.
"I saw what was happening and I didn't like it – for them, not for us. I quickly made a deal with China to save them from what I thought was a very serious situation. I didn't want that to happen," Trump wrote.
According to him, thanks to the agreement, the situation in China has stabilized, and the country has returned to its usual economic regime.
"The bad news is that China, perhaps not surprisingly to some, has completely broken their deal with us. That's the price for trying to be a good guy!" Trump said.
At the same time, Trump found himself at the center of ridicule due to the spread among investors and on Wall Street of the term "TACO trade", which stands for "Trump Always Chickens Out" – "Trump is always afraid."
The author of the "term" describing Trump's trade policy style was Financial Times columnist Robert Armstrong, writes ABC News.
Investors have even managed to turn this into a strategy: buying up stocks when the market falls after the announcement of new tariffs, and then making money when Trump backs down and the markets recover.
- In early April 2025, Trump announced the introduction of "reciprocal" tariffs ranging from 10% to 50%. Having received requests for negotiations from more than 75 countries, the US suspended them for 90 days (for most countries, a 10% tariff will apply).
- For China, which responded with an increase in tariffs, the "reciprocal" tariff rate increased to 125% (and together with the previous tariffs, 145%).
- Trump claimed that countries were calling him and "kissing his ass" to make a trade deal.
- On May 12, the US and China agreed to reduce tariffs by 115 percentage points for 90 days.
