Off topic but I was amused that Scott Bessant found the question of 'who is paying the tariffs' to be a very complicated question to answer when cornered by a congressman. That he even said that to a congressman is a no brainer. As someone who is supposed to be a highly touted hedge fund manager, this is nothing more than a bald face liar trying to lie through his teeth, knowing he cannot tell the congressman that USA consumers are actually paying those tariffs, not manufacturers in China or elsewhere.
Now, when a buyer enters a shop to buy something, who pays for the things he bought when you asked him? How complicated is it to answer the question. Scott Bessant's facial expression when confronted with this question is always clownish and finding difficulty dealing with it. He smiled uncomfortably, stammers when unable to answer the question directly and truthfully and tried to wriggle his way out with nonsensical noises like an animal caught in a trap. How he lied his way through is fun to watch. One congressman even told him straight in the face that he is not just brought in sitting there to lie.
Scott Bessent is nearing the end of his tethers. The tariff con that exporters from other countries have to eat those tariffs have been put to rest with USA consumers now finding out the escalating prices at retail outlets. Not only that, but other sectors like agriculture are caught in the tailspin of those tariff war and farmers regretting throwing their support behind Trump to get him elected. But it is too late to regret for that.
Now we are seeing that retaliation is even affecting the chips sector, with China telling its industry players to avoid using USA made chips. Slowly, Trump is killing what he was supposed to protect and still thinking he has cards left to play. No Donnie, the game is over, and the cards are not in your hands to deal.
China is slowly seeking out all the weak spots in the USA armor to attack when the time is ripe and when it is in a position to launch those attacks. Time is on China's side. After all China goes for long term planning and is well known for that. After clearing the hurdles to overcome the chips alliance with its own self-made chips, China is ready for the next stage of its retaliation in the technology war.
Anonymous
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The technology war is going to bite the USA painfully on another sector, with Chinese Government and some Industry players already shunning the hiring of graduates from foreign universities, most prominently from even some Ivy League USA universities. Some Chinese industry players have already done away with hiring foreign educated graduates, citing security reasons. This is a game changer that has been under the radar.
China's move is an attempt to discourage Chinese parents from choosing an overseas education for their children, which are highly expensive and exposing Chinese children of high talents to be turned into brainwashed Anglophiles, hating China and loving Western decaying culture.
There are many reasons that this will change the landscape of higher education for Chinese students in the USA and elsewhere. The cost of a university education in the West is a very expensive undertaking, not to mention the environment of hate ignited by Trump against Chinese in the USA.
A Chinese University education in China, on the other hand, costs just a fraction of that in the USA, with the environment of safety and security of little parental concern. With jobs now favoring Chinese University graduates picking up, a university education in China universities is no longer inferior to USA universities, with some Chinese universities right now juggling for ranking among the top elite universities worldwide. And the standard of education in science, engineering and technology at Chinese universities are not inferior to those graduates from foreign universities. This has been proven by DeepSeek, the AI startup helmed by graduates of Chinese universities and giving top ranked AI entities in the USA a run for their money. It was nothing more than shock and awe that Chinese universities could produce such illustrious students capable of taking on the highly experienced and highly touted technology giants of the USA.
With foreign educated graduates now playing second fiddle to Chinese university graduates in the job seeking sector in China, this is going to end the bonanza of USA universities ripping off Chinese students with having to pay a ransom to get an education in the USA. Trump does not need to clamp down on visas for Chinese students attempting to study in the USA now. He is going to decimate the landscape of USA universities, with funding from lucrative foreign students, especially from China drying up.
As I said earlier, China plays the long game, looking for opportunities to retaliate against the USA. Trump, who started the University student visa denial game against Chinese students to enroll in USA universities is now going to come back to haunt him.
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