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Financial markets were down hard this morning as the financial class worried about their assets, and constructed the narrative to fight President Trump's rebalancing of the American economy.
Trump went to the airwaves today on Truth Social and threatened China with additional tariffs for their retaliatory levies yesterday.
Yesterday, China issued Retaliatory Tariffs of 34%, on top of their already record setting Tariffs, Non-Monetary Tariffs, Illegal Subsidization of companies, and massive long term Currency Manipulation, despite my warning that any country that Retaliates against the U.S. by issuing additional Tariffs, above and beyond their already existing long term Tariff abuse of our Nation, will be immediately met with new and substantially higher Tariffs, over and above those initially set.
Therefore, if China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th. Additionally, all talks with China concerning their requested meetings with us will be terminated! Negotiations with other countries, which have also requested meetings, will begin taking place immediately. Thank you for your attention to this matter!
However, Europe, after much bluster, seems to have folded.
Time will tell.
The golden age seems to be coming, although with birth pains.
White House trade advisor Peter Navarro said Monday that an offer by Vietnam to eliminate tariffs on U.S. imports would not be enough for the administration to lift its new levies announced last week, reported CNBC.
“Let’s take Vietnam. When they come to us and say ‘we’ll go to zero tariffs,’ that means nothing to us because it’s the nontariff cheating that matters,” Navarro said on CNBC’s “Squawk Box.”
The examples of nontariff “cheating” cited by Navarro included Chinese products being routed through Vietnam, intellectual property theft and a value-added tax.
