China caves on 125% tariff for major US export
The world's greatest manufacturer has begun to cave in to the world's greatest marketplace. Last week, China waived a 125% tariff on ethane imports from the U.S. It seems that there are things that China needs from the US. Ethane joins a growing list of products that China has granted tariff exemptions for amid the Trump fair trade policy tariffs. In addition, Chinese officials granted exemptions for pharmaceuticals, microchips and aircraft engines.
Trump also got a better-than-expected jobs report last week as the market has steadied and improved. The worst seems to be over, and it appears that Trump has weathered the tariff storm. He still needs that first tariff deal.
Today also marks the official end of Joe Biden's illegal, unconstitutional "loan forgiveness" program. Thanks to an Obama policy, the government made and backed those loans and letting them go unpaid added to the federal deficit. One could argue that Biden tried to grant forgiveness to students racked with debt was an effort to win an election. Today, the government restarts collections on defaulted loans along with the accrued interest that goes with it. Even had it been legal it was unfair to those who had paid off their loans and those who hadn't even gone to college.
In other news:
Israel said it would add thousands of reservists to bolster its campaign against Hamas.
The U.S. will move a Patriot air-defense system to Ukraine and more may follow, as Putin has demonstrated that he is not serious about ending the war.
The Brazilian police said that they had foiled a plot to detonate explosives at a Lady Gaga concert in Rio De Janeiro.
Oil prices fell again after the OPEC Plus oil cartel said it would increase its supplies. More good news for Trump.
New York City owes at least $1 billion in unpaid invoices to nonprofit groups that help "vulnerable residents."
Trump called international film production a national security threat and said that he would impose a 100 percent tariff on movies made outside the US.
Trump confirmed that he had asked Claudia Sheinbaum, Mexico’s president, to allow US forces into Mexico in order to bring the cartels to justice. Sheinbaum who presides over a weak, corrupt government was unable to accept the offer.
Trump indicated yesterday that either VP Vance or Secretary of State Marco Rubio would be his most likely successor.
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Good morning and welcome to the news.
A city at the southern tip of Texas is being named "Starbase" and will be the center for Space X.
By The New York Times
China caves? You say that because China actually dropped the tariffs on a few items that it requires? Let's see where all of this goes, because I think it's a little too soon to announce that China has "caved".
Perhaps you are right ....
It is too soon. We are right in the middle of things.
I agree Buzz, the partisanship in labeling is entertaining. China Caves, trump adapts. trump is shitting on the constitution for denying due process to those he is deporting, Obama was awesome....even if he deported over 2 million people without due process. just recognize it for what it is, my side good, your side bad and vice versa.
I agree, just as it is too early to say Trumps tariffs have been a disaster.
Here's the deal.
What's going on behind the scenes is not known, but we can be pretty much assured discussions are going on at high levels.
Both with actors such as China and Mexico, which is mentioned below
Personally, I'll put more credence in what Warren Buffet had to say about the tariffs.
Well, I'm not surprised that you are, but I'm not.
LOL. Yep, that's the way it is, especially on this site.
This place could be used as a case study in tribalism.
Not without Kavika.
By the way, 14 point font is good enough - I'm not THAT blind.
That means nothing to me.
This does:
LOL. Trump is the most corrupt US president in history, and it isnt even close. He makes ten times 400,000 every time he fleeces his supporters with a new meme coin or superhero Trump trading card.
We just had the most corrupt president in history. He and his family made millions from influence peddling.
He pardoned all of them and walked away.
He said that last time, but refused when asked for evidence that he actually did donate it.
He didn't take any pay last time.
Are you really going to deny that?
When Trump announced his decision to forgo a salary, critics expressed doubt because presidents are required to be compensated for their work . To get around this, Trump takes $1 each year from his paychecks.
Fact check: Donald Trump donates salary, but he still makes money
And take a look at that typical leftwing fact check. They admit that Trump kept his word on not taking a Presidential salary but felt compelled to add the meaningless irrelevant point that he makes money from his private business.
Another unfounded claim from the anti-Trump group.
Prove it.
That fact check was based purely on his, and his administration's statements.
What does his tax return show???
His 2020 tax return showed zero charitable donations.
The link is in the comment.
Sorry. CNN isn't reliable enough to tell me if the sun is out let alone about somebody's tax returns. Do better.
[✘]
Show me where I ever claimed to donate my entire salary to a charity, then we'll talk. Otherwise you're just trolling, again.
Show me where Trump ever claimed to donate his salary to charity...........I guess if you consider GovCo programs and departments charity, then okay........................
I JUST DID:
AGAIN:
Fact check: Donald Trump donates salary, but he still makes money
Why can't people accept basic facts?
Where does that factor into the 50 million he made last time he was in office?
Did he make it legally from his business?
No.
The Emoluments Clauses of the U.S. Constitution
And the point is.......
Vic , im going to have to agree with the mexican presidents refusal of trumps idea of use of US military in mexico against the cartels , it sets a very dangerous precedent , and a very slippery slope for the future .
One that most definitely is likely to come back and bite someone in the ass in the future . not a door that needs to be opened .
With all due respect, if history serves as a guide, Trump throws out a draconian "solution", Mexico says "no thanks", BUT, are they thinking "this is a sign we had better step up."?
That could be the case , and from what i have read they have been stepping up , just not as fast or in ways some would like .
You think that is her reason?
You do know that if she takes on the cartels, her and her family could all be killed, right?
Vic , as they say , well above my pay grade there .
any time an criminal organization becomes entrenched and has power , assasination is always on the table.
My thought is the use of US military as a law enforcement arm , even in another country , should be a no go , it opens up the use of other countries militaries to be used in this country in the same manner , which our active duty is forbidden to do unless certain conditions are met .
When the cartels become a military power equal to that of a nation, they should be taken out. They have been classified as terrorist organizations. What more is necessary?
I ask again , whats the US record on military intervention against terrorist orgs or those they deem as terrorists ? things better or worse now around the world in that regards?
should we try the same things , and expect different results?
Fairly good. Obama got Bin Laden and Trump defeated ISIS and killed Qasem Soleimani.
things better or worse now around the world in that regards?
The problem is that we went from Obama to Trump, back to Biden and now back to Trump.
Vic , you can think things have gone fairly good , just as i can think things have gone middlin to piss poor as to the actual reality of the end results but i do agree that politics played a very large role in the outcomes.
And on that note, I think you'll agree that we are facing serious threats.
I agree this may not be best, but why is Mexico different than Afghanistan? or Syria, and who posed more of a threat to the American people?
and why not do something from the US side of the border in the US?
you mention 2 countries , how did military intervention in those places work out ? are things better or worse now ?
Because the cartels and the cartel leadership isn't in the US, i will ask again, why is Mexico different? they are housing terrorist organizations and refuse to do anything about it. Do you think the cartels have caused less American deaths than Al Qaeda?
the only way to wipe out the cartels would be to kill them, jail time doesnt phase them , so if i have this right , you would be in favor of allowing the US to kill anyone they declare a threat to americans by any means nessisary.
again , not a door that should be opened because it opens both ways eventually .
That is not what i'm saying, as i stated in my first comment. "I agree this may not be best," What i'm saying is America has a history of not respecting any one's borders, so why are the Cartels and/or Mexico special?
Very true , they say a journey of a thousand miles starts with the first step, maybe that first step is for America to start respecting others borders as well, which this is actually about .
mexico has not invited the US into mexico to solve their issues . even if americans think thats whats needed .
You are right, those may not have been the best choice, how about Pakistan? they are a staunch US ally in the region and get a lot of foreign aid, we droned a bunch of people in their country and literally invaded it to "arrest" a criminal that they had for all intent and purposes provided safe harbor to, that worked out pretty well didn't it?
It's not the first time the US has done this. We have military deployed all over the world doing that very task.
NORAD, which is a partnership effort of Canada and the USA is probably located in northern Canada, so in that regard the American military is located on Canadian soil. Their successful efforts so far seem to have been limited to tracing Santa Claus' travels from the North Pole every Christmas Eve. I differentiate that from the multitudinous American army bases located around the world, because they don't seem to take part in any military efforts in the host nations, they're just, as the Peter Seller movie is named. "Being There".
Or am I totally wrong? - I might be. Yes, I admit to being wrong, something that is VERY RARE on this site.
Today is Cinco de Mayo.
The history:
T he fifth of May has been a Mexican holiday since 1862, and has gradually become a bigger one in America. Like many American holidays, it is now encrusted with humbug and commercialism. As with St. Patrick’s Day, many Americans see it solely as an excuse to drink, eat some ethnic food, and maybe wear some ridiculous plastic hats. You may know some of the common myth-busting tropes: It isn’t Mexican independence day, it’s arguably a bigger holiday here today than it is back home in Mexico, and it only celebrates beating the French for control of a town the French won back a year later anyway.
Cinco de Mayo History: Battle of Puebla Was a Turning Point | National Review
Most people don’t know that back in 1912, Hellmann’s mayonnaise was manufactured in England. In fact, the Titanic was carrying 12,000 jars of the condiment scheduled for delivery in Vera Cruz, Mexico, which was to be the next port of call for the great ship after its stop in New York.
This would have been the largest single shipment of mayonnaise ever delivered to Mexico…. But as we know….the great ship did not make it to New York….The ship hit an iceberg and sank …. and the cargo was forever lost….
The people of Mexico, who were crazy about mayonnaise, and were eagerly awaiting its delivery …. were disconsolate at the loss….
Their anguish was so great, that they declared a National Day of Mourning which they still observe to this day…. The National Day of Mourning occurs each year on May 5th…. and is known….of course….as Sinko de Mayo….
the untold Sinko De Mayo story | Pad Patter 5.5.17 | The Lilypad
Georgia District Attorney Fani Willis was ordered to turn over 212 pages of records to a state court judge. The court also ordered Willis to detail how the records were found and the reason for withholding them from the public.
New York Attorney General Letitia James has been referred for federal criminal prosecution for alleged mortgage fraud related to a Virginia home and a New York property.
Our readers need to remember that "No one is above the law!"
except for the maga savior and cult leader ...
He was subject to lawfare. Remember?
Don't get all butt hurt because after a decade of investigations nothing turned up.
Except Trump you mean.
The Trump administration defied the courts twice in one day, and experts say it could hurt America’s sterling reputation as an attractive place to invest
The chickens have come home to roost.
Even Jack Smith is under the microscope.
And yet republicans refuse to investigate the 34 count felon and rapist with thousands of classified documents hidden in his bathroom..
You mean:
The Justice Department special counsel investigating President Joe Biden’s handling of classified materials said the president “willfully” retained classified materials while a private citizen but chose not to bring criminal charges against the president due to concerns about the ability to convince a jury of wrongdoing, saying Biden could portray himself as an “elderly man with a poor memory.”
'Elderly Man With A Poor Memory': Special Counsel Explains Why Biden Won't Face Charges Over Classified Docs
I mean what I say. The comparison between Biden's voluntarily found and returned classified documents and Trump's thousands of hidden away classified documents do not compare.
If you feel Biden should have been prosecuted, why don't you feel the same about Trump? Or are whataboutisms all you have left?
What people aren't realizing is that these bring all their decisions into question. Every conviction, acquittal, decision to prosecute, all of it.
You bet! We haven't got to that yet. Right now, the President is busy with an agenda. Just let Republicans hold onto the House & Senate in two years and then we should see some real investigations.
No, China did not cave. But even China cannot ignore economic reality so had to blink. China curtailing the 125% tariff on ethane was for China's benefit. That move wasn't intended to benefit the United States. What all the pundit pedantry tries to obscure is that China is not the predominant source of imports into the United States. For most categories of imported goods, 70-80% are imported from other countries. A lot of import dependent US businesses have been moving their supply chains out of China. China's attempt to foster an emerging service economy has increased the cost of doing business inside China.
A wise move. Usually, they wait too long ... after China gets all their intellectual properties, studies and replicates their businesses and tells them on the way out: "See ya, wouldn't want to be ya."
China is learning that becoming an affluent society is unattractive to libertarian and neoliberal investors. That affluence is coupled with higher wages and a demand for more regulation. Once domestic financiers gain power in China's economy then China won't be competitive in international trade. Libertarian and neoliberal economics based upon monetary controls is not compatible with a productive economy.
That is a good point. China got in with cheap labor. It is not so cheap anymore. They now have a legit middle class.
Trump chasing fool's gold in Ukraine is a mistake. There is no doubt that Ukraine will join the EU. So, if Ukraine doesn't renege on the mineral deal then the EU will. All the trade deals made with Ukraine will become void after joining the EU because of the requirement to abide by EU trade policy. NATO membership won't overcome the EU trade barriers. Trump's gonna lose his ass on this deal.
It may be a better deal for Zelensky than Trump.
Before I forget:
Congrats to Owner Sheikh Mohamed (Godolphin Stable), trainer Bill Mott and jocker Junior Alvarado.
Kind of ironic that a horse named Sovereignty would win the Derby.
"The Trump administration has started paying illegal migrants to $1,000 each to “self-deport” from the US, and the Department of Homeland Security said it will save taxpayers up to $1 million per family.
Immigrants can avoid arrest by federal immigration agents if they choose to use the Trump administration’s CBP Home app. The DHS will pay for commercial flights out of the US, and then send cash once they confirm they’ve left.
Despite shelling out the cash, DHS projects that taxpayers will save 70% over the cost of rounding up and deporting each illegal migrant."
Trump admin set pay illegal migrants $1,000 to self-deport, DHS says it will save taxpayers a ton
Great idea!
Great idea. If they get caught in the states illegally, after taking the cash, their needs to be additional punishment as well.
Supposedly it was Mitt Romney who came up with it.
from the article:
“…the Department of Homeland Security said it will save taxpayers up to $1 million per family.”
Sounds like a DOGE investigation may be warranted, perhaps for the first time.
Figure it out. You are taking them off all the benefits democrats gave them. You don't need to arrest and put them on trial.
You only need a plane ticket and $1,000.
Final word:
President Trump is playing a tough game with a tough leader. Some would go so far as to describe China's president Xi as a ruthless man. So far, the tariffs are taking a toll on China.
This from the New York Times: " China’s Garment Factories Face a Tipping Point After New Tariffs. " As a U.S. tax loophole ends, the apparel makers that sell to America are forced to consider alternative markets or cheaper locations in and outside China."
China’s Garment Factories Face a Tipping Point After New Tariffs - The New York Times
And from the Wall Street Journal: "China may offer cooperation on fentanyl as a diplomatic “icebreaker” to restart trade talks with the U.S., following months of economic pain and escalating tariffs under Trump’s second presidency. According to The Wall Street Journal, Beijing is considering sending security chief Wang Xiaohong to meet U.S. officials, reflecting a shift in tone after previously demanding tariff relief as a precondition. Trump imposed 20% tariffs on China early in his second term, citing its role in the U.S. drug-overdose crisis, but Beijing dismissed the move as a pretext for broader trade aggression. Both countries have escalated tariffs causing trade to collapse, fueling U.S. inflation, and pushing China toward a deep recession. China’s Commerce Ministry said it is reviewing ongoing U.S. messages signaling a willingness to negotiate on tariffs."
More importantly Secretary of the Treasury Scott Bessent says that he will be announcing the first Trade Deal this coming week.
The scent of victory is in the air.
"Good night and good luck."
removed as duplicate post by charger
A less costly way to get rid of what Biden let in for free