Contact us: info@strategic-culture.su
I have posted two videos at the end of this post that may interest you. The first is a roundtable, hosted by Danny Haiphong, which features yours truly, Ray McGovern and Glenn Diesen… quality information. The second video is my conversation from Monday with Ryan Dawson. Ryan, who is suffering from macular degeneration, could not appear on camera, but his voice is fine. He is a bona fide expert on the JFK and RFK assassinations.
The boys and girls on Wall Street heaved a big sigh of relief today, with the stock market making historic gains, a welcome respite for the losses of the preceding days, when Donald Trump announced a 90-day pause in the severe tariffs, opting only to impose a 10% tariff across the board… Well, not for everyone. Trump boosted tariffs on China and China responded in kind.
Last night, at a Republican fundraiser in New York City, Trump made the vulgar, crass, impolitic comment about the 70 countries that have contacted his administration pleading for a tariff deal. Trump said:
“I’m telling you, these countries are calling us up, kissing my ass,” Trump told the National Republican Congressional Committee Dinner late Tuesday — just hours before the tariffs went into effect.
“They are. They are dying to make a deal. ‘Please, please, Sir, make a deal. I’ll do anything. I’ll do anything, sir!’” he said mockingly.
Even if true, this is a damn stupid thing to say. I don’t think there are many countries, who contacted the Trump administration, that are feeling warm and fuzzy towards Mr. Trump. Humiliating trading partners is, at best, counterproductive. While Trump, as well as many of his ardent supporters, are celebrating this as a sign of American dominance, I suspect many of those countries seeking tariff relief are reconsidering whether they want to continue to be harnessed to the US dollar. Whether he acknowledges it or not, Trump made a great case for why nations should align themselves with BRICS rather than be economic hostages of a fickle hegemon.
Trump’s real objective in levying these unprecedented tariffs is to punish China. Trump is preceding from the assumption that China’s economy is weak and that the United States holds the upper hand. According to the Chinese government, approximately 14.7% of China’s total exports went to the United States in 2024. That is a decline compared to 2018, when the US accounted for approximately 16% of China’s exports, with total exports to the US valued at $547 billion.
Chinese exports to the United States in 2024 accounted for 13.4% of all US imports. The main categories of goods imported from China to the US include:
Consumer Electronics:
- Smartphones, computers, and tablets dominate this category, with China accounting for 78% of US smartphone imports and 79% of laptops in 2023.
- Other electronics include televisions, home entertainment systems, and lithium-ion batteries, which make up a significant share of imports
Machinery and Industrial Equipment:
- Includes auto parts, robotics, automation equipment, and construction machinery. This category accounted for $110 billion in imports in 2023.
Furniture and Household Goods:
- Wood and upholstered furniture, small home appliances (e.g., microwaves, air purifiers), and lighting fixtures are key products. Furniture alone accounted for $14 billion in imports.
Toys, Textiles, and Apparel:
- Toys represent over 70% of US toy imports, while textiles and clothing made up $21 billion in imports in 2023.
Medical Supplies and Pharmaceuticals:
- Includes raw pharmaceutical ingredients and medical devices, accounting for about 30% of US imports in this category.
Unless Trump does a carve-out on Pharmaceuticals and Electronics, US consumers are going to be paying exorbitant prices for I-Phones, computers and critical prescription drugs. There is almost nothing that the US exports to China that is exclusive to the United States. Soybeans, for example, are a major US export to China. China will now probably turn to Brazil and purchase their crop [Note — China and Brazil already have a trade deal in place that bypasses the US dollar.]
Trump claims to be great friends with Xi Jingping. In light of Trump’s insults and crude behavior, I doubt that President Xi counts Donald as a good buddy. Trump and his team apparently believe they have the leverage in this battle and that the Chinese will blink and seek a negotiated solution. I think Trump and his advisors are dead wrong. China is not going to be bullied and will pivot from treating the US as a valued trading partner. Trump’s actions have removed any lingering doubts within the Chinese leadership that a viable trading relationship with the United States can be maintained.
China has one advantage over Trump. Any suffering imposed on the Chinese people will easily be blamed on the United States, not Xi. Trump, in turn, will face the wrath of consumers if the prices of electronic and pharmaceutical goods rapidly inflate. He did that, not the Chinese.
Trump and his advisors also appear to be betting that this move will help convince Russia that China is not a reliable economic partner, and that Russia will abandon China. I think Trump’s tariff tirade will have the opposite effect — i.e., it will cement Russian and Chinese relations on all fronts and spur them to move quicker on making BRICS a solid alternative to a financial order based on the US dollar.
Original article: sonar21.com
