Tariff Chaos! Trump’s Trade War is Back

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Baseball cards and trade. I learned a lot about business, a lot about trade. When I was a kid, as a kid I used to collect baseball cards and my friends and I would get together, they’d collect as well and everybody had their favorite teams and their favorite players and I couldn’t afford to go out and buy the whole set. It was like 700 and something cards to every player in Major League Baseball back in the day. I can’t even believe I remember that. But anyway, we would trade.

We would trade, you sometimes you would get duplicates of cards and you could trade one of your friends for a card that you’re needed from a team that you wanted. And you know what the great thing was with base trading for baseball cards? You work out a deal and both, both kids, I’d walk away happy. My friends would walk away happy and we’re good. Good. And it was fun. We enjoyed it. That’s, that’s trade. That’s what it’s all about. Right now is this biggest big day.

for trade here in the United States. Trump administration wants everybody’s best offer. Wants everybody’s best offer on trade. Also, steel tariffs just went up to 50%. Now, you’ve seen this movie before, okay? It’s, you the reason why I don’t watch King Kong, because they make all these sequels and the monkey always dies in the end.

Well, you’ve seen this movie before you go back to 2018. Yup. We jacked up steel tariffs. Yeah. All the protected jabs in the steel industry. was jobs saved in the steel industry. But yeah, seventy five thousand jobs were lost elsewhere. I don’t even know how this thing is going to pan out. I guess we’re breaking our raising the steel tariffs at 50 percent that breaks to deal with the UK.

Japanese aren’t gonna be happy. Who knows? Who knows? We’ll see. Donald Trump took to the Twitter or took to the Truth Social last night at 2 17 in the morning, 2 17 a.m. in the morning and he put out, like President Xi of China, always have and always will, but he is caps now, very tough and extremely hard to make a deal with.

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three exclamation points. Yeah.

Tuesday, Spokesperson LeVette came out and said that they were monitoring China’s compliance with the Swiss agreement and that leader to leader talks are going to happen soon. Trump said last week, I’m sure that I’ll speak to President Xi and hopefully we’ll work that out. They’re blaming us for breaking the deal. We’re blaming them. We’ve got now issues right now. I’m not making this up, right?

not making this one up at all. Automakers here in the United States are considering right now shifting auto parts manufacturing from the United States to China to avoid the factory shutdowns. Why? Because China is holding back certain rare earth.

magnets that need to be installed because we’re holding back stuff from them. Yeah, this is just working out. Great, great, great. Let’s kind of go through where we’re at with some of the bigger countries when it comes to trade, because remember, we were going to have deals every day. going to have more. We’re going have so many deals, so many trade deals, because we got the negotiator and chief. man, art of the deal. We were going to have one deal after another.

Well, let’s talk about the Court of International Trades ruling, that thing that was put on hold. Appeals Court gave deadlines of June 5th for the plaintiffs to respond and June 9th for the US administration to reply. Again, today is the day that the US wants the best offer. We want your best, is that the best offer? To see if we can accelerate trade talks, meaning,

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They’re nowhere at this point in time. Where should we start off with? You know, we’ll start off with China, who knows. China, who knows? know, meetings going back and forth, supposed to meet again, see if Trump’s gonna speak with them. Vietnam has a list of requests. They said that they’re gonna buy more of our stuff, trying to make the tariffs go away. Japan is…

We’re actually, you we talked about our nation’s debt. That’s actually coming up in conversations where countries are saying, hey, listen, we’ll buy some of those treasuries if we can knock some of these things down. Again, the issues with automobiles with Japan. Japan says they’re going to increase their import of US rice and soybeans. The EU, that’s going to be an issue.

difficult things about dealing with the EU is they have a difficult time dealing with each other. The European Union has its rules and its rules can be complicated and certain countries have certain rules that are different than the others. I remember the Greek government suing France because France was making their own FEDA and calling it FEDA

and they said you can’t do that, FEDEC can only be made in Greece. I’m sure the French do the same thing with Champagne. It’s again, a lot of rules going on there. Every country is different. There’s carve-outs and handouts and all sorts of issues. And again, it’s problematic trying to strike an entire trade deal with the EU. Again, some of the other things we’re looking at, obviously we want some of those digital.

of elect rights and whatnot to be dealt with. Cause again, that’s been problematic. We shall see. The UK deal again, we were told that was a done deal. It’s not a done deal. It was just a framework, even though everybody was patting themselves on the back not too long ago. Lutnick said the US India trade deal is coming soon. Yeah, we have to get Lutnick out there. You ever see the movie Money Pit with Tom Hanks and Shelley Long?

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and you know, they’re working on the house and the contractors like, when is it gonna be ready? Two weeks. Two weeks, it’ll be done in two weeks. And that’s every single time you see Lutnick expecting many deals over the next two weeks. That’s where we’re at, kids. And where we’re at is in no man’s land. Watchdog on wallstreet.com.