Trump just signed an executive order to bring down the cost of drugs in the USA. So simple, just a signature on a piece of paper and drugs will magically become cheaper. Now, why didn't Biden do that earlier I wonder? Oh, in case I forget, why didn't Trump sign an executive order to bring down the price of eggs and groceries as well.
Or better still, why didn't Trump just sign an executive order to compel retailers like Walmart not to let shelves be empty. Can he sign an executive order to demand that China must buy soya beans and corn from the USA to prevent farms from collapsing?
Trump thinks everything is so easy. As easy as demanding Mexico pays for his wall, gloating that he can stop the Ukraine War within 24 hours of his stepping into the White House, gloating about bringing manufacturing back to the USA without getting things ready beforehand, until the shit hits the fan.
Now, anything good happening around the world or in the USA is all because of the leadership of Trump. Now he is trying to take credit for the ceasefire between India and Pakistan, even though the Indians do not even think he played any part in negotiations. Anything bad happening around the world or in the USA is now the fault of Joe Biden, the poor man not knowing what he is accused of. Good that Joe has dementia and cannot remember what he did anyway.
Anonymous
5 comments:
Trump was gloating just days ago about sticking to his stand of not reducing the 145% tariffs against China. A day or two after, he changed his tune and claimed that 80% would be suitable tariff for Chinese goods and is up to Scott Bessent to do the necessary. Would Scott Bessent really be bold enough to reduce his tariffs from 80% to 30% without his concurrence? Why had Trump suddenly caved in by falling flat for a 30% tariff against China and for 90 days only?
The whole thing about the celebrative mood after the so-called success of the talks over the tariff reduction and the stock market shooting up over the news is a tad too early. This is a tactic I am apt to believe is Trump trying again to manipulate the stock market. Those of the rich friends of Trump and his family would probably have bought into the market during the lows of the past weeks, and with his 65% reduction initially giving a discreet signal that it is going to rise, those cronies and family members will now be reaping in billions. What is going to happen 90 days from now? Another manipulation will come after those billionaires have unloaded their stocks and waiting for another crash to buy in again? Poor guys like us can only watch on the sidelines how the super-rich made their money.
Having said that, I think the Chinese have learned a profound lesson not to trust Trump's tariff reduction too much. The tariff war is not over yet. There are pertinent reasons why Trump's tariffs are crumbling against China. First was the low take-up of the bonds auction that global investors are avoiding, and that is spooking the market. The second reason is that Trump is trying to prevent the empty shelves inside retail outlets from getting worse over the coming days and weeks. He is hoping for more Chinese ships carrying products to dock at USA ports to provide retailers with a lifeline and keep truckers and dockworkers employed. In essence the reduction of tariffs from 145% to 30% had little effect on Chinese manufacturers, as importers and consumers are going to bear the tariffs anyway. This was a question thrown by a congressman who asked Scott Bessent - 'Who is paying the tariffs' and when was cornered he went into a gibberish talking about China manufacturers suffering and avoided the question altogether.
Suffice to say, Chinese manufacturers should be cautious about moving product shipments back to USA ports with the 90 days truce in mind and should continue to do more business with global south countries and forging new markets. China has learned some lessons in the past by keeping away from relying too strongly on particular markets that have an agenda to do China in.
On another note, I wanted to talk about how China discovered USA soya beans using fake country of origin as being grown in Argentina and Brazil, being sold to China under the radar. Argentian and Brazil are furious that the USA is destroying their Chinese market with such underhand tactics. They are now working with China to tackle the problem. This shows the level of desperation that farmers in the USA are doing without the Chinese market.
Now, will Trump start claiming that he is winning the tariff war or China is kissing his arse. I am waiting. Great progress he claims, when everyone is talking about his caving in. Anyway, Trump lives in an alternative world, a world of delusion, different from reality.
If I were a Chinese manufacturer, I would not take too seriously the deal, knowing that anything can still happen after 90 days. Trump is not one to think rationally nor morally, tearing up agreements at his whims and fancies.
Scott Bessent is now selling the mantra that neither side wants a decoupling now. This after all the years of the touting of USA wanting to decouple or changing the narrative to derisk from China. How did a two-day meeting with the Chinese change a mindset of years in the making is mind boggling.
Suffice the say, the USA cannot afford a decoupling from China, while China has already put in place all that is necessary to decouple from the USA. That is the reality that I see.
Collect payment 1st then deliver, so there nothing to loose. If buyer don't want to pay 1st, ask them to go fly kite with Trump.
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