Schumer quips China deal a defeat for Trump

Senate Minority Leader Chuck Schumer on Monday quipped that the recent trade agreement between China and the Trump administration marked a defeat for Washington.

"Sadly, it looks like China once again got the better of Trump.

Another example of Trump chaos. He has one policy one day, one the next. Who knows what it’ll be tomorrow," he posted on X.

China received some of the highest tariff rates as part of Trump's "Liberation Day" imposition of duties on nearly every nation. After Trump backed off of most tariffs, he left those on China in place and ultimately concluded a deal to lower tariffs on Chinese goods to 30%.

China, in turn, will lower its tariffs from 125% to 10%.

“The consensus from both delegations this weekend is neither side wants a decoupling,” Treasury Secretary Scott Bessent said. “And what had occurred with these very high tariff ... was an embargo, the equivalent of an embargo. And neither side wants that. We do want trade.”