Tag Archives: china

People: J.D. Vance Justifies Tariffs by Promising Parents Their Kids Will Have American-Made Weapons if ‘God Forbid’ They Go to War

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Vice President J.D. Vance is speaking out in defense of President Donald Trump‘s tariffs — including his statements about children needing fewer toys — by arguing that Americans could benefit from using American-made weapons if “God forbid … your country goes to a war.”

During an interview with Fox News host Martha MacCallum on Thursday, May 8, Vance, 40, spoke out about Trump’s comments about his tariffs on goods from China, and said that Americans “need to become more self-reliant.”

“That’s not going to happen overnight, and it’s not always going to be easy,” Vance told MacCallum. “What I’d ask people is not whether they want two dolls or five dolls or 20 dolls for their kids. I’d ask American moms and dads, would you like to be able to go into a pharmacy and know that the drugs your kids need are actually available to you?”

“As an American parent, would you like to — God forbid, if your country goes to a war and your son or daughter is sent off to fight—would you like to know that the weapons that they have are good, American-made stuff, not made by a foreign adversary?” Vance continued.

J.D. Vance Justifies Tariffs by Promising Parents Their Kids Will Have American-Made Weapons if ‘God Forbid’ They Go to War
Trump recently issued a a 90-day pause on the tariffs for nearly all nations excluding China

https://www.msn.com/en-us/news/other/j-d-vance-justifies-tariffs-by-promising-parents-their-kids-will-have-american-made-weapons-if-god-forbid-they-go-to-war/ar-AA1EuUmI

Fortune: Trump calls emptying U.S. ports a ‘good thing’ despite supply-chain panic because ‘that means we lose less money’

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As logistics professionals sound the alarms on emptying U.S. ports as a result of steep tariffs, President Donald Trump said those major import slowdowns are actually a boon.

…

Trump not only acknowledged the shipping slowdown in a Thursday press briefing announcing a trade deal with the UK; he seemed heartened by it.

“We’re seeing as a result that ports here in the U.S., the traffic has really slowed and now thousands of dockworkers and truck drivers are worried about their jobs,” a reporter said in the press briefing.

“That means we lose less money,” Trump said. “When you say it slowed down, that’s a good thing, not a bad thing.”

Trump is deranged!

Trump calls emptying U.S. ports a ‘good thing’ despite supply-chain panic because ‘that means we lose less money’
The president has repeatedly claimed the U.S. has a $1 trillion trade deficit with China, though economists argue a trade deficit isn’t inherently negative.

https://www.yahoo.com/news/trump-calls-emptying-u-ports-180609056.html

Washington Post: U.S. pushes nations facing tariffs to approve Musk’s Starlink, cables show

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Some countries have turned to the satellite internet firm in conjunction with trade talks, State Department staffers wrote. The U.S. has a strategic interest in countering Chinese internet providers, but Musk’s role complicates the picture.

Corruption at its finest!

Less than two weeks after President Donald Trump announced 50 percent tariffs on goods from the tiny African nation of Lesotho, the country’s communications regulator held a meeting with representatives of Starlink.

The satellite business, owned by billionaire and Trump adviser Elon Musk’s SpaceX company, had been seeking access to customers in Lesotho. But it was not until Trump unveiled the tariffs and called for negotiations over trade deals that leaders of the country of roughly 2 million people awarded Musk’s firm the nation’s first-ever satellite internet service license, slated to last for 10 years.

The decision drew a mention in an internal State Department memo obtained by The Washington Post, which states: “As the government of Lesotho negotiates a trade deal with the United States, it hopes that licensing Starlink demonstrates goodwill and intent to welcome U.S. businesses.”

Lesotho is far from the only country that has decided to assist Musk’s firm while trying to fend off U.S. tariffs. The company reached distribution deals with two providers in India in March and has won at least partial accommodations with Somalia, the Democratic Republic of Congo, Bangladesh, Pakistan and Vietnam, although this is probably not a comprehensive count.

Hopefully there will be some prosecutions after the 2028 elections!

U.S. pushes nations facing tariffs to approve Musk’s Starlink, cables show
Some countries have turned to the satellite internet firm in preparation for trade talks, State Department staffers wrote. The U.S. has a strategic interest in countering Chinese internet providers, but Musk’s role complicates the picture.

https://www.washingtonpost.com/business/2025/05/07/elon-musk-starlink-trump-tariffs

The Hill: What is Trump even doing any more?

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One of the most frustrating things about the Trump administration is that it offers too much nuttiness to process.

Not long ago, the discovery that the president doesn’t know what the Declaration of Independence is would have consumed the country for months. Today, it barely registers because the Trump White House pumps out similar stories two or three times a week. 

When you compare such stories to the trade war with China or President Trump’s claim that he doesn’t know whether he’s required to uphold the Constitution, it’s tempting to view Trump’s recent brainstorms on movie tariffs and reopening Alcatraz as mere distractions. That would be a mistake. They are evidence of something much darker than Steve Bannon’s call to “flood the zone with s—.”

https://thehill.com/opinion/white-house/5289900-trump-tariffs-alcatraz-constitution-hollywood

Bloomberg: Global Shift to Bypass the Dollar Is Gaining Momentum in Asia

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Banks and brokers are seeing rising demand for currency derivatives that bypass the dollar, as trade tensions add a sense of urgency to a years-long shift away from the greenback.

Firms are receiving more requests for transactions including hedges that sidestep the dollar and involve currencies such as the yuan, the Hong Kong dollar, the Emirati dirham and the euro. There’s also demand for yuan-denominated loans, and a bank in Indonesia is setting up a desk for the Chinese currency.

The vast majority of foreign-exchange trades use the dollar even if they’re transferring money between two local currencies. For example, an Egyptian company wanting Philippine pesos will typically transfer its local currency into the greenback before buying pesos with the dollars it receives. But companies are increasingly looking at strategies that skip the dollar’s role as a go-between.

Global Shift to Bypass the Dollar Is Gaining Momentum in Asia
Banks and brokers are seeing rising demand for currency derivatives that bypass the dollar, as trade tensions add a sense of urgency to a years-long shift away from the greenback.

https://www.msn.com/en-us/money/markets/ar-AA1EqTN6

Newsweek: ‘We Currently Have No Container Ships,’ Seattle Port Says

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Another shipping port official voiced concern about the drastic decline in imports as a result of President Donald Trump‘s tariffs.

“I can see it right over my shoulder here, I’m looking out at the Port of Seattle right now, and we currently have no container ships at berth,” Seattle port commissioner Ryan Calkins told CNN on Wednesday.

…

Several port authorities have observed a similar drop in cargo volumes over the past few weeks, warning that such a decline could have significant and adverse effects on consumers—who may face rising prices and limited product availability—as well as the supply chain-linked sectors of the U.S. economy.

Calkins told CNN that the current situation would impact the job security of longshoremen and those dealing directly with the freight, as well as industries responsible for transporting imports nationwide.

“And that’s hundreds of jobs right here in our region and across the country,” he said, adding that his port had not witnessed such a significant downturn in activity since the height of the COVID-19 pandemic.

‘We Currently Have No Container Ships,’ Seattle Port Says
Seattle port commissioner Ryan Calkins described the decline in activity as “a stark reminder” of the impact of tariffs.

https://www.msn.com/en-us/money/markets/we-currently-have-no-container-ships-seattle-port-says/ar-AA1EozjS

The Street: These two industries could face mass layoffs this year

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Trucking:

Trucking has typically been known as a reliable career choice, although some struggle with the isolation and long hours.

But according to Apollo’s report, the disruptions tariffs will cause to trade, especially with China, will have a negative effect on those working in the trucking industry.

The report suggests that a sharp decline in container-ship voyages from China will significantly reduce freight volumes, meaning fewer trucks will be needed to transport goods. 

Apollo estimates that imports accounts for 20% of U.S. trucking volume, which if reduced, would translate to less need for drivers. It also estimates that domestic freight activity will hit a major slowdown by mid-May, with major layoffs to follow in order for trucking companies to cope with the changes.

Add in that President Trump signed an executive order on April 28 that requires all truck drivers to be able to speak English, and even more jobs will be snuffed out.

Retail:

Another blue-collar sector that will suffer because of the tariff environment, according to Apollo, is retail.

Apollo’s data suggests that retail will also face problems due to the decline in container shipments, especially from China. This will lead to stores running out of stock and longer gaps until they are able to refill their shelves. Other items could disappear altogether if they’re too expensive to import.

In addition, Apollo predicts that declining consumer confidence in the economy and fear of spending on anything nonessential will mean a slowdown in retail shopping. After all, less sales means less money to pay staff.

Further, the tariff-driven slowdown could lead to stagflation — stagnant growth combined with high inflation — according to Apollo’s analysis.

thestreet.com

https://www.thestreet.com/retail/these-two-industries-could-face-mass-layoffs-this-year

The Street: Tariffs will devastate this entire industry

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The toy market was worth $114.4 billion in 2024, according to a report from Research and Markets, and it’s forecasted to nearly double by 2034, reaching $203.1 billion.

However, the tariffs pose a roadblock to that plan. The reason is simple: nearly 80% of toys imported into the United States come from China. That leaves toymakers with some difficult options: absorb the costs of the imports, or pass them on to the consumer.

MGA Entertainment is the largest privately held toy manufacturer in the U.S. and is the brand behind many of the popular toys you see on store shelves, including Bratz, L.O.L. Surprise, and Little Tikes. But thanks to the tariffs, CEO Issac Larian is facing some hard decisions.

“Frankly, if these tariffs do not go away, we have no choice but to do layoffs,” he said in an interview with Retail Dive.

Large toy companies are being affected as well. Mattel announced in March that it would lay off about 35% of its manufacturing workforce. 

Tariffs will devastate this entire industry
Families with kids may face an unfortunate new reality.

https://www.msn.com/en-us/money/markets/tariffs-will-devastate-this-entire-industry/ar-AA1EfMvd

USA Today: How will Trump’s tariffs affect grocery store prices? We explain.

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“The short answer is yes, prices are going to go up,” said David Ortega, a food economist and professor at Michigan State University. “They may not skyrocket for all imported products, but they will go up. Tariffs are a tax on imports, so by definition, they are inflationary.”

While higher tariffs could still be coming after a 90-day-pause, the baseline 10% tariff on all goods, plus higher duties on Chinese products already in effect are a big increase in food costs for American’s budgets, said Thomas Gremillion, director of food policy at The Consumer Federation of America.

“The 10% ‘default’ tariffs alone represent a truly historic federal tax increase, maybe the largest in my lifetime, with a highly regressive impact,” Gremillion said.

How will Trump’s tariffs affect grocery store prices? We explain.
How will Trump’s tariffs or the threat of more tariffs affect grocery store prices?

https://www.msn.com/en-us/money/markets/how-will-trump-s-tariffs-affect-grocery-store-prices-we-explain/ar-AA1Eco8Y

The Atlantic: The Disturbing Rise of MAGA Maoism

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Trump seems to be ceding the future to China while emulating its past.

China may well come to dominate the next century—because President Donald Trump is taking a page from the most famous Chinese leader of the previous one.

The United States remains the world’s preeminent soft power. It’s a financial and cultural juggernaut, whose entertainment and celebrities bestride the planet. But as an industrial power, the U.S. is not so much at risk of falling behind as it is objectively behind already. A recent essay in the journal Foreign Affairs by Rush Doshi and Kurt Campbell, both China experts who served in the Biden administration, made the case with alarming specificity. China makes 20 times more cement and 13 times more steel than the U.S. It makes more than two-thirds of the world’s electric vehicles, more than three-quarters of its electric batteries, 80 percent of its consumer drones, and 90 percent of its solar panels. China’s shipbuilding capacity is several orders of magnitude larger than America’s, and its navy will be 50 percent larger than the U.S. Navy by 2030.

The Trump administration clearly recognizes the need to rebuild industrial capacity. In its executive order published on “Liberation Day,” the White House suggested that, without high tariffs, America’s “defense-industrial base” is too “dependent on foreign adversaries”—a clear allusion to China.

But …

But Trump’s approach to countering China has been so scattershot, so inept, so face-smackingly absurd, that it sometimes seems like covert policy to destroy America’s reputation. Rather than build a global trading and supply-chain alliance to match the scale of China, we’ve threatened to invade Canada and slapped new tariffs on our European and East Asian allies. Rather than invest in scientific discovery, which is the basis of our technological supremacy, the administration threatens to decimate the National Institutes of Health and the National Science Foundation while attacking major research universities, including Harvard and Columbia. Rather than compete on clean energy, the White House has targeted solar and wind subsidies for destruction. Rather than invest in nuclear power by expanding the Department of Energy’s Loan Programs Office, which provides billion-dollar loan guarantees for nuclear projects, the administration dismissed 60 percent of its staff. Rather than secure our reputation as the world’s premier destination for global talent, we’re driving away foreign students.

https://archive.is/j0lGD#selection-673.0-708.0