Globalists look to maintain China trade dominance...
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The narrative against President Trump continues as globalist financial forces look to maintain China's dominance in trade against the world. We believe the legacy business press is 'all in' for this effort against American manufacturing.
'Evidence' of economic slowdown, recession, inflation, etc. abound in Western business media.
This comes as China is upping its rhetoric, saying 'there are no trade negotiations' underway, which is opposite what President Trump has stated in the Oval Office multiple times recently.
"The US should respond to rational voices in the international community and within its own borders and thoroughly remove all unilateral tariffs imposed on China, if it really wants to solve the problem," Ministry of Commerce's spokesman He Yadong told reporters at a regular briefing on Thursday in Beijing.
Yadong rejected any signs of progress in bilateral communications, indicating that "reports on development in talks are groundless." He said Washington needs to "show sincerity" if both sides want to make a deal, reported ZH.
Treasury Secretary Scott Bessent has tried to calm financial interests by saying the U.S. would 'de-escalate' soon with China.
There are also reports that auto parts manufacturers may get some relief from tariffs temporarily.
While the administration has hinted at potential relief, there’s still no clarity on what that might entail. For now, Deutsche Bank assumes a 25% tariff applies to all imported vehicles, except those qualifying under USCMA rules until customs can fully assess non-U.S. content. Imported parts are expected to fall under the tariff starting May 3rd, reported ZH.
"Maybe we'll make a special deal, and we'll see what it will be. Right now, [the tariffs are] 145%, that's very high," said President Trump yesterday.
Financial markets rebounded yesterday on news of potential tariff deals to be announced; however, markets are drifting this morning, waiting for follow-through.
These tariffs are long overdue.
With this caving we will end up right back where we started. I thought the tariffs were being instituted due to the CCP overwhelming the USA with fentanyl. As far as I know, this has NOT stopped.