The headline is written to draw the contrast from what the professional economic pundits previously -and continuously- proclaim.
Two charts tell the story. The first is “Tariff Revenues”:
The Second Chart is USA Inflation:
Apparently, despite all the wailing, pearl-clutching and teeth gnashing from the multinationals, their economic punditry conscripts and the professional political apparatus, tariffs are not raising prices. Go figure.
Commerce Secretary Howard Lutnick appears on CNBC to outline some of the topline details behind the latest U.S-China trade agreement.
As Lutnick notes, with all the terms agreed over two long days of negotiation, the details now move to “the paper” where President Trump and Chairman Xi will review and approve. The agreement is ¹only between the USA and China and does not involve trade details with other nations who will not be pulled along by our U.S. position.
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This facet is very interesting because it means ¹Canada, a nation entirely dependent on China for industrial raw materials, does not gain benefit from the outcome of the U.S-China trade agreement. Canada is openly, publicly, trying to develop their economic model with a relationship toward the U.K and EU, to the detriment of the USA. If China grants benefit to the USA that are not existent for Canada, the U.K and E.U, that puts their coalition of economic adversaries at a disadvantage.
Lutnicks’ throw-away line, “we tried to help them, but it didn’t work out”… moving on. lol
President Trump announces that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer have successfully concluded three-days of topline trade negotiations with their Chinese counterparts.
President Trump and Chairman Xi will now evaluate the successfully negotiated details and institute the topline strategy as part of the overall future trade agreement. According to the Truth Social post, there will be a 55% tariff on Chinese imports and a 10% tariff on U.S. goods to China.
[SOURCE]
At a 55% tariff rate against Chinese finished-goods imports, there will be ZERO inflationary pressure to the U.S. consumer.
None. Zero. Zippo. Zilch.
I will explain why below.
White House Press Secretary Karoline Leavitt holds a press beating. Livestream links below:
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This thread will refresh daily and appear above the Open Discussion Thread.
Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.
For Thine is the kingdom and the power and the glory, forever and ever. Amen †
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A member of the Chinese Communist Party, Shenghua Wen, 42, of Ontario California, came to the USA on a student visa in 2012; he never left.
Wen remained in the USA illegally, while somehow purchasing “a firearms business in Houston, paid for with money sent through intermediaries by one of Wen’s North Korean contacts.”
After organizing a covert life in the United States, and after purchasing the firearms company, Wen began sending weapons and sensitive military hardware to China, where it was transshipped by prior agreement and sent into North Korea. You just have to read the DOJ press release to review the unbelievable system Shenghua Wen had put into place.
“Wen also acquired or offered to acquire a civilian airplane engine and a thermal imaging system that could be mounted on a drone, helicopter, or other aircraft, and could be used for reconnaissance and target identification.” [READ MORE]
Wen plead guilty to the charges and now faces “a maximum penalty of 20 years in prison on the count of violating the IEEPA and a maximum penalty of 10 years in prison on the count of acting as an illegal agent of a foreign government. Sentencing is scheduled for Aug. 18.”
According to a statement by New Jersey U.S. Attorney Alina Habba, a grand jury has indicted Representative LaMonica McIver (N.J) on three charges related to her involvement in a violent stunt at an ICE facility.
Previously the Dept of Homeland Security released body camera footage showing LaMonica McIver, instigating a violent confrontation with DHS and Immigration Customs and Enforcement officials in Newark, New Jersey. The indictment today is another step in President Trump’s promise to continue targeting and deporting illegal aliens.
[SOURCE]
Apparently, the prior narrative that everything was fine, there’s nothing to see here, just didn’t work. As footage of looting, arson, violence and riots against law enforcement continues to highlight the false presentations of Los Angeles Mayor Karen Bass and California Governor Gavin Newsom, the mayor has now declared a local state of emergency – with an immediate 8:00pm curfew, starting tonight. WATCH:
The same people burning cars, breaking into businesses, destroying property and throwing objects at law enforcement, are suddenly going to adhere to a curfew! Huh, imagine that.
This is actually a very surprising development. The World Bank (WB) is a heavily controlled multinational exploit of the World Trade Organization (WTO) and World Economic Forum assembly (WEF). This could be looked upon as the WTO/WEF taking a knee as they finally accept Godzilla Trump is not going to relent. Remember, the Build Back Better agenda was a construct from the WEF/WTO.
Looking a little more deeply at the people behind the latest shift in tone and paying close attention to the wording they are using, there’s an inference the World Bank is telling Europe to stop being intransigent or they will lose U.S. military support. A very unusual shift in WB tone.
In my first review opinion, as the legal arbitration system for trade complaints, the WB are trying to mitigate President Trump’s full-frontal assault on the global trade imbalance that brings the global trade wealth back to the USA.
NEW YORK POST […] – Top economists at the international institution, which helps finance low and middle-income countries, acknowledged that many nations do not provide reciprocal trade access to the US.
“This [situation] could not be sustained indefinitely,” the World Bank’s chief economist, Indermit Gill, said during a news briefing, the Washington Post reported.
[Gill] contended that Trump’s actions were merely a response to uneven trade access between other countries and the US.
Other experts at the World Bank concurred with that assessment and indicated that Europe, Japan and China should all take steps to reduce trade barriers on the US, while calling for an across-the-board rollback on tariffs on all sides. (more)