Here’s The Fine Print Truth That the Media Won’t Tell You About Trump’s Trade Deal
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Okay, yep, time to do the trade deal. Trade deal, UK trade deal fine print edition. I know, I know. Here you go again, Mark Elsie. You’re going after the president again. Just listen, I am going to try very hard. I’m going to try to keep the comments, my opinions muted to some degree. I’ll try.
I’m gonna try. We’re gonna go through, we’re gonna go through this historic, monumental, huge trade deal with the UK. Okay, this is what the administration has put out. United Kingdom trade deal.
They’re saying that we have opened access to United States products for the UK, $5 billion worth. Tariff revenue, that’s taxes, taxes on you and I, that’s gonna go up by $6 billion, the external revenue service. They call it the external revenue service, but again, I wanna remind you that you pay.
The administration said that UK tariffs were at 5.1 % prior to the deal. Now they’re down to 1.8. That, I’m sorry, that number’s wrong. The number’s wrong. The way I see it, the tariffs that the UK was putting on our items were anywhere from 0.3 to 0.7%. But you know what, we’ll go. We’ll go with the administration’s numbers at 5.1. Now one.
Tariffs tariffs on stuff coming to the United States from the UK were at three point four percent Now they’re So alright again So, know get your arms around this we’ve essentially
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Well, Donald Trump lowered taxes for the people in the UK, is what he did. He negotiated a great, great tax deal for the citizens of the UK. They’re going to be paying less. They’re gonna be paying less on our stuff going here, but we’re gonna be paying more on the stuff that’s coming to the United States. I mean, again, I want you to get your arms around that. Again,
This deal was supposed to reduce trade barriers and eliminate the trade deficit. But again, we’ve got we’ve got tariffs that are higher now than they were before. The carve outs. The carve outs, that’s the one too. OK, so UK Steel, they took away that 25 percent tariff. And what they also did, they also did is they said, hey, you know what?
We’re not going to put the 25 % tariff, not going to put the 25 % tariff on the cars made by the UK coming into the United States as long as it’s under 100,000 cars. That’s basically what the UK ships to the United States already every single year. So let me put this into perspective for you. Okay, pay close attention.
There’s gonna be a higher tariff on cars, on Fords and Chevys that are made.
in Mexico, half made in Mexico, half made in Canada, either or, and rest assembled in the United States, then there are on Aston Martin’s Range Rovers and Bentley’s coming into the United States. I kid you not.
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Yeah, that’s what this says. Detroit’s not happy. Again, this is under this deal. will now be cheaper to import a UK vehicle with very little US content than a US MCA compliant vehicle from Mexico or Canada. That is half American parts. This is Matt Blunt, president of the American Automotive Policy Council, which represents Ford, GM.
and Jeep parent Stellantis. This hurts American automakers, suppliers, and auto workers. Again, the tariff has been reduced from the UK from 25 to 10 % for the first 100,000 cars made in the UK. And again, that’s all we’re shipping here anyway. They don’t ship more than 100,000 cars.
Winning, winning, We’re doing so much winning going on. I don’t even know what to do here, guys. It’s just a lot of winning. A lot of winning. Let’s get into some of the Q &A. Donald Trump was asked, he was asked by a reporter about what is taking place right now at the ports and how traffic is way down. Traffic is way down at the ports.
and truckers, this is part of the question, truckers and dock workers are going to be laid off. Trump’s response to the question, and certain times the way he answers questions you can’t even respond because you’re like what, you’re trying to process what he just said? You’re trying to find the logic? He says that okay, we’re losing less money, we’re losing money.
And again, I’m trying to figure out how this makes any sense. I went out yesterday, Mother’s Day coming up this weekend. Happy Mother’s Day to all the moms out there. And I bought my wife some stuff. Bought my wife some stuff. I got her some outfits here and there. Did I lose money?
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Did I lose money when I bought my wife?
presence from others day. Is that either that a loss or is it an exchange?
I don’t look at it as a loss, I didn’t lose any money. I chose to spend money on those items for my wife. I didn’t lose it, I used it. Anyway, again, Donald Trump thinks it’s losing money. But then he went on to say, and I’m not making this up, if you don’t believe me, go to the videotape. Business slowing down is good, not bad.
There was no rebuttal from the reporter because what do do with that?
Business slowing down at the port, stock workers being laid off, truckers being laid off is good, not bad. We’re losing less money.
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Again, you would fail, you’d fail a ninth grade economics class. It’s just that you’d fail. What was, oh, oh, the other thing there. Opening up agricultural products to the UK. We’re gonna see what’s gonna happen with that. And again, it was interesting because, you know, Trump said, oh, Bobby’s working on getting, you know, getting those hormones and you know, whatnot out of the…
beef here in the United States and then you had the Secretary of Rollins step in and say that we have, mean, why don’t you kind of step right in front of the president. We have the best beef in the entire world. It’s here in the United States, the greatest, the best of all time. And then, know, Donald Trump, we have the best of everything here in the United States.
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Maybe they should just go around with those foam fingers, like number one, you know those things. Anyway, no, we don’t have the greatest beef standards in the entire, it’s not the case in some places. Yes, you do, but overall, no, mean, certain things they won’t accept over in Europe based upon hormones and other things. again, their standards are their standards. Okay. All right.
Now what, guys? Now what? What else we gonna go to? yeah, Lutnik. I gotta talk about Lutnik.
I’m trying to, you know, it’s almost, you know, there’s like the old Looney Tunes character. I think it was the two dogs there. Then they were kind of like gangster dogs. And it was the little dog was actually the leader. was the boss. And the bigger dog would be bounced around. I’ll do what you say, boss. Yeah, boss. I’m right there. I’m right with you, boss. I’m trying to remember the whole thing, but Lutnik is.
I mean, aren’t you embarrassed?
Aren’t you at all embarrassed? He’s up there. He’s like, this, this trade deal would have taken, taken me over three years to put together. Trump put it together in no time. This would take you three years to put together. This was, this is some sort of complicated deal. We put 10 % tariffs on them. and then, we obviously increased.
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Again, it’s tax on the United States and guess what? They started at 10%. We’re still at 10%. This is some groundbreaking deal. but, but, but, but, but, but, but they’re making them buy Boeing planes. Okay. They had to buy the planes anyway. You know, maybe they would have gotten them from Airbus, but it’s, it’s a wash. Boeing is going to be able to get rolled. put Rolls Royce engines.
in the Boeing planes, they’re not going to pay tariffs on us. I guess it’s great for Boeing. But again, I don’t know where the little guy is in this. one more, one more. The other thing as well, he was asked, he was asked about Mattel. I brought this up yesterday on the podcast, the CEO of Mattel, not going to be making stuff in the United States. We’re going to design stuff in the United States. He actually threatened Mattel.
actually threaten the company with 100 % tariffs.
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I’m surprised it’s not getting more play. He actually threatened the company with a hundred percent tariffs because they dared defy him.
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You’re okay with that? Okay. don’t know what to tell you. know what to tell you. We’ve got China on deck right now. The latest that I’ve seen right now, 80 % tariff on China seems right, exclamation point up to Scott B. Also, Trump said, said China should open up its market to the USA would be so good for them. Closed markets don’t work anymore.
We’ll see where it goes. We’ll see where it goes. The reality is, again, we’re most certainly, like I said, like I said, he’s stepping away, stepping away from what he was doing before. Again, it all started and I explained it here on the program and again, no, he’s not. No, Trump would never concede. What are you talking about? Okay?
The bond market smacked him upside the head. The falling dollar smacked him upside the head. The markets crashing smacked him upside the head and said, yo, okay, you can’t do this. If you do remember, and again, because I pay attention to these things, you watched the markets, the futures markets, what was taking place on liberation day when the 10 % tariffs.
That’s it, 10 % across the board was announced. There was actually, the markets had a big sigh of relief. They went up. As soon as that magic formula came out with the charts, with the reciprocal stuff, that’s when everything tanked.
The 10 % was like, oh, this could have been a hell of a lot worse. We’ll figure a way, we’ll deal with this in some way, shape, or form. But that’s what happened and they’re walking away from it. Another quick side note when it comes to China. Donald Trump several times over the past week commenting on strollers and expensive strollers is kind of making fun of it. And how expensive strollers are, it’s not a big deal. Well,
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You know, again, I guess they’ve been trying to push for Americans to have more babies, right? This is an amazing number. China’s share of US imports on baby essentials. Car seats, 98 % come from China. Strollers, 97%. Beds, bassinets, playards, changing tables, 94%. Walkers.
93 % high chairs 92 % high chairs and other seats for children 91 % baby care appliances 89 % toys 76 % activity centers 66 % cribs 46 % and we go right on down the list So Yeah, yeah, it’s gonna be that much more expensive To have a baby, which can just a part of it again, I’m hoping
hoping that we continue to see the president step away from the policies from the get-go. Again, this is the fine print on this UK trade deal. If you want to think that this is a big coup, a big win, okay. Okay. I just gave you the facts. It is what it is. Watchdogonwallstreet.com.
