Peter Schiff Slams U.S.-China Tariff Deal as “Nothing,” Warns of Economic Fallout
Veteran economist and outspoken critic of government policy, Peter Schiff, has issued a scathing critique of the recently announced 90-day tariff rollback deal between the United States and China.
The agreement, touted by some policymakers as a breakthrough in easing trade tensions, involves the U.S. slashing tariffs on Chinese goods from 145% to 30%, while China reciprocates with a reduction from 125% to 10%.
Schiff, however, sees little reason for celebration. In a flurry of posts, he called the move “just another BS win,” arguing that the deal merely returns both countries to pre-trade war conditions without securing any meaningful economic advantage for the U.S. “All we won is relief from Trump’s tariffs,” he wrote, noting that the deal lacks any new commitments and exposes what he describes as a failed strategy.
“Trump used tariffs as a bargaining chip, and now he’s lost that chip,” Schiff continued. He emphasized that Americans are still stuck with a 30% tariff, while the Chinese get away with just 10%, underscoring what he sees as an imbalance in the agreement. “China called our bluff and won,” he concluded.
Beyond the trade implications, Schiff warned of deeper fiscal concerns. He pointed out that the growing U.S. budget deficit remains largely ignored amid the focus on short-term trade wins. “It’s crazy how so many get so positive about nothing,” he said. “Meanwhile, no one is paying attention to the budget deficit, which is set to explode higher.”
In essence, Schiff’s warning serves as a reminder: beneath the surface of positive headlines lies a fragile macroeconomic picture, one that could continue to drive long-term interest in decentralized finance.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
