Tariffs Catch-All

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nycfan said:

Elon Musk Warns Rare Earth Magnet Shortage May Delay Tesla’s Robots​

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In related news, the rare earth magnet shortage will also be delaying full-self driving mode. Elon swears, if not for the dastardly tariffs, humanoid robots would be driving Teslas all around the country
 
This administration has been such a gift to China. I'm still very much in the camp that China is one of those enemies it's better to keep closer, but the reactionaries who now run this country have played into every single one of their traps.

1. You don't launch a trade war you can't win, and we can't win against China. Hence, the asskicking we're receiving.
2. You don't cede geopolitical influence to your chief geopolitical rival. Which is exactly what we're doing by pulling back from Africa, Eastern Europe, Central America, etc.
3. You don't alienate your primary suppliers for raw materials and goods needed to win the military and technology wars of the future.

Trump's brain is stuck in 1982. His advisors want to revisit 1938. But China is thinking about 2075. We (by which I mean the idiots who voted for Trump) deserve every bit of the humiliation we're receiving right now.
 
nycfan said:
though that will likely remain bottled up pending sufficient interest rate declines to de-risk the IRR of leveraged acquisitions).
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I know it's not your fault -- when in Rome and all that. It's just borderline insane that this type of writing has become not just accepted but standardized and expected. And I'm not exactly a guy who shies away from abstract technocratic language when it's appropriate.
 

Treasury chief Scott Bessent says U.S. has an "an opportunity for a big deal" with China​


www.cbsnews.com

Treasury chief Scott Bessent says U.S. has an "an opportunity for a big deal" with China

Treasury Secretary Scott Bessent on Wednesday said he believes the Trump administration could strike a deal with China.
www.cbsnews.com www.cbsnews.com

“… Bessent, who delivered the keynote address at the Institute of International Finance in Washington, D.C., today, said that the Trump administration wants the U.S. economy to rebalance toward more manufacturing, while urging China to shift away from what he called "export-led manufacturing growth."

… Bessent made it clear in his speech that the Trump administration wants to see changes in China's export-based economy.

"It's an unsustainable model that is not only harming China but the entire world," Bessent said in a Washington speech, stressing concerns around trade imbalances that Mr. Trump says he hopes to address through sweeping tariffs. …”

[Bessent went on to criticize the IMF and World Bank]
 
www.mediaite.com

‘We Used to be All-Tariff!’ Trump Defends China Trade War And Claims Tariffs Will Pay For Lower Taxes

"You know, in 1913, they traded to the income tax system. We used to be all-tariff! And we had no income tax. And we had the wealthiest country"
www.mediaite.com www.mediaite.com

“President Donald Trump took questions from the press on Wednesday outside the White House and was asked if he was nearing a deal with China to lower his massive tariffs on the country.

The exchange came a day after Trump appeared to back down from his trade war with China. “145% is very high and it won’t be that high. It won’t be anywhere near that high. It’ll come down substantially. But it won’t be zero,” Trump told reporters in the Oval Office on Tuesday — sparking a surge in the markets.

“Can you clarify, Mr. President, on China?” asked an off-camera reporter [today].

“Yeah, we are going to have a fair deal with China. It’s going to be fair,” Trump replied.

… “Are you talking to them actively now?” pressed the reporter.

“Actively? Everything’s active. Everybody wants to be a part of what we’re doing. They know that they can’t get away with it any longer, but they’re still going to do fine. And we’re going to be a country that you can be proud of. Not a laughing stock all over the world for many years,” Trump replied

… “So, Mr. President, how does it look in the meantime? Are you considering lowering tariffs on China while you’re negotiating?” another reporter asked.

“It looks good. We were losing anywhere from $3 to $5 billion a day. Think of it. We’re losing billions of dollars a day under Biden and other presidents, frankly. But under Biden, it got really worse. China got out of control. We’re losing a trillion dollars a year. Trillion. Not a billion, not a million. A trillion.

And now we’re going to be making money with everyone, and everyone is going to be happy. But we’re no longer going to be the country that’s ripped off by every country in the world.”
 
(1) Waiting for all the receipts on all these trade deals.
(2) Let's put a pin on her claim that there will be no unilateral reduction in tariffs on China. I don't think that's possible.
 
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