TACO Trump Announces Paltry Trade Deal With China
Donald Trump says he’s finally cracked a tentative deal with China—but why doesn’t it sound any good?
Trump announced on Truth Social Wednesday morning that a long-awaited trade deal had finally materialized, though it was still subject to “final approval” by Chinese President Xi Jinping and himself, and indicated that the U.S. would impose a 55 percent tariff on Chinese goods, while China would impose a 10 percent tariff.
While these numbers are significant deescalations from the whopping 145 percent tariff Trump had levied on Chinese exports and the 125 percent tariff rate on U.S. exports China imposed in response, Trump’s deal still leaves something to be desired.
Before Trump entered office, China and the U.S. both had roughly 20 percent tariffs on exports from each other’s countries. In an initial agreement last month, the U.S. had agreed to lower rates to 30 percent and China had lowered to 10 percent, before Trump blew up the deal.
So while the U.S. will still have to pay more for Chinese goods—a policy that will ultimately raise prices for American consumers—it seems that China has struck a deal to pay even less for American goods than it did before Trump was in office.
Meanwhile the other terms of that deal seemed to provide assets both countries had before Trump’s ridiculous trade war.
“FULL MAGNETS, AND ANY NECESSARY RARE EARTHS WILL BE SUPPLIED, UP FRONT, BY CHINA,” Trump wrote.
China’s grip on rare earths had provided it with a lot of leverage in negotiations with the United States. When Trump first levied his astronomically high tariffs on China, Beijing essentially shut down exports, and even after it agreed to a truce, in Geneva last month, Beijing still required companies to purchase special licenses to buy them, placing a particular strain on robotics and defense companies.
In return for resuming the supply of rare earths, the U.S. would allow Chinese students to attend American universities. Secretary of State Marco Rubio announced late last month that he would begin “aggressively” revoking the student visas of Chinese students, claiming concerns over national security. As one could probably assume, the purported threat posed by these students was never real but a bargaining chip for the Trump administration.
Trump noted that allowing Chinese students to study at American universities has “ALWAYS BEEN GOOD WITH ME!”
Democracy is “under assault” under Donald Trump’s leadership, according to California Governor Gavin Newsom.
In a nearly nine-minute address to his state and to the nation Tuesday evening, Newsom warned that the president’s choice to manhandle Los Angeles, without any input from the government or people of California, indicates a leader on the verge of authoritarianism.
“If some of us can be snatched off the streets without a warrant, based only on suspicion or skin color, then none of us are safe,” Newsom said. “Authoritarian regimes begin by targeting people who are least able to defend themselves. But they do not stop there.
“Trump and his loyalists, they thrive on division because it allows them to take more power and exert even more control,” he continued. “And by the way, Trump, he’s not opposed to lawlessness and violence as long as it serves him. What more evidence do we need than January 6?”
Thousands of locals flooded the streets of Los Angeles over the weekend in a stunning visual protest of the president’s agenda. Protesters blocked off a major freeway, trashed Waymos (self-driving cars), and organized outside of City Hall and the Metropolitan Detention Center. In reaction, law enforcement officials shot rubber bullets and fired tear gas and flash bangs into crowds of civilians. The FBI added protesters suspected of throwing rocks at police cars to its Most Wanted list and ominously threatened to intervene in the anti-Trump display without guidance from California or the White House.
California sued the federal government Monday to roll back Trump’s deployment of 4,100 National Guard members that state authorities said had not been authorized or requested to handle the protests—an order that Newsom slammed Tuesday night as “illegal” and a “brazen abuse of power” that “inflamed a combustible situation.”
“When Donald Trump sought blanket authority to commandeer the National Guard. he made that order apply to every state in this nation,” Newsom said. “This is about all of us. This is about you. California may be first, but it clearly will not end here. Other states are next. Democracy is next.”
In another decision that nobody responsible for overseeing peace in Los Angeles wanted, Trump additionally deployed 700 Marines to the City of Angels, an initiative that Defense officials revealed Tuesday would cost U.S. taxpayers $134 million.
Trump also endorsed threats to arrest Newsom when the California governor began to hit back, telling reporters that he’d “do it.”
“Democracy is under assault right before our eyes; this moment we have feared has arrived. He’s taking a wrecking ball, a wrecking ball to our Founding Fathers’ historic project: three coequal branches of independent government,” Newsom continued.
“The Founding Fathers didn’t live and die to see this kind of moment,” Newsom said, urging Americans to “stand up” to the Trump administration’s aggressive control. “I know many of you are feeling deep anxiety, stress, and fear,” he continued. “But I want you to know that you are the antidote to that fear and that anxiety. What Donald Trump wants most is your fealty, your silence: to be complicit in this moment. Do not give in to him.”
President Trump declared that anyone who protests his military/birthday parade—even peacefully—will be met with “very heavy force.”
“We’re celebrating big on Saturday … if there’s any protest that wants to come out they will be met with very big force. And by the way, for those people who wanna protest, they’re gonna be met with very big force,” Trump said, repeating himself. “And I haven’t even heard about a protest, but, you know, these are people that hate our country. But they will be met with very heavy force.”
This is the president saying that........
© New Republic
