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Economy selectors, pages, etc.
Trump unhappy that Xi hasn't capitulated over tariffs. They spoke on phone today.
By Curt_Anderson
June 5, 2025 8:31 am
Category: Economy
(0.0 from 0 votes)
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On Wednesday, Mr. Trump wrote on social media that Mr. Xi was “VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH.”

The Trump administration has accused Beijing of breaking the truce by restricting exports of critical rare earth minerals used by a range of American manufacturers, including carmakers and semiconductor producers. Shortages of the minerals, which are used to make powerful industrial magnets, could bring some American factories to a standstill. China dominates the global market for the minerals and views it as a choke point over the United States.


Cited and related links:

  1. nytimes.com

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Comments on "Trump unhappy that Xi hasn't capitulated over tariffs. They spoke on phone today.":

  1. by HatetheSwamp on June 5, 2025 8:57 am

    Curt,

    You need to break you Holy Trinity addiction.

    Based on what I know about China, it needs us far more than we need them. But, Xi ain't a pushover. I think Trump's stunned by that.


  2. by Curt_Anderson on June 5, 2025 9:08 am
    Apparently they don't need us more than we need them.

    In 2024, the United States had a significant trade deficit with China, totaling $295.4 billion, according to the United States Trade Representative.


  3. by HatetheSwamp on June 5, 2025 9:19 am

    Curt,

    C'mon, gimme a break, man! That's precisely why China needs us more than we need them. If China lost half of its surplus with us, it'd be in a huuuuuuuuuge pile of crap. It needs the US. It's as addicted to our spending as a cokehead is to crack.

    No other nation's consumerism can come close to ours.


  4. by Indy! on June 5, 2025 9:26 am

    I call this one "The Art of the Deal" 🙂


  5. by Curt_Anderson on June 5, 2025 9:35 am
    Just 15% of Chinese exports go to the US. Since Trump's tariffs, other countries are making trade deals with each other.


  6. by HatetheSwamp on June 5, 2025 9:47 am

    Just 15%?... JUST!!!!!?

    That's one friggin sixth of the economy? Try slicing one in six dollars out of the US economy. What do you think unemployment be?

    We're talking the US in 1929, baby!

    Imagine EBT and Medicaid and other welfare costs. The US budget deficit last year was $1,800,000,000,000. Take 15% out of our economy.

    Whadayathink?


  7. by Curt_Anderson on June 5, 2025 11:00 am
    Except it won't be 15% of their exports unsold and dumped into the landfill. China will find new markets. What might have gone to the US at the old rate will go to the US with the higher tariffs we consumers will pay, plus some Chinese exports will go other countries at a perhaps lower price than have paid in the past.

    China is already working with other countries to supply the agricultural products that they formerly bought from US farmers.



  8. by meagain on June 5, 2025 12:06 pm
    "Based on what I know about China, it needs us far more than we need them."

    Try going to a Walmart store or any with a great variety of stock. How many are made in China, and how many of those could the USA manufacture? Even if it had the capacity, the items would either be prohibitively expensive, or you would not find any Americans willing to work at the manufacturers. Particularly now that Trump wants to deport the temporary or illegal residents.


  9. by Indy! on June 5, 2025 12:08 pm

    Amazing that so many Americans don't understand it's not the 1950s anymore. We couldn't even produce masks when covid struck - we're supposed to be producing 95% of the non-food products on the market now?


  10. by oldedude on June 5, 2025 5:00 pm
    I think that's EXACTLY what Americans DO understand. The point here is that we have the infrastructure to build the means of production and to enhance our manufacturing. AND, we actually have a lot of folks that do want to work in better jobs than what pedojoe "built" for them. They want benefits, good wage, be able to get healthcare for their families (without government interference).

    US Steel is really happy with trumpster, and the moves in the past 1-2 months in making US steel and aluminum while giving people jobs. We disagree. You don't believe the US can actually build anything. I do. And we need to start. Pharmacal's to start. Of course manufacturing metals. Our own farming, and farming support.


  11. by Curt_Anderson on June 5, 2025 5:22 pm
    Many more people work in companies that use steel than make it
    The higher tariffs likely will provide a boost for domestic companies that produce steel and aluminum. But for every steelworker in America, there are about 80 people working for companies that use steel. And their costs are about to go up.

    "How is it that you're supposed to buy the most expensive steel in world in the United States, and compete with global competitors who have access to world market pricing," asked H.O. Woltz, who runs a company in Mount Airy, N.C. that twists steel wire into cables used to reinforce concrete.

    npr.org


  12. by oldedude on June 5, 2025 8:15 pm
    "How is it that you're supposed to buy the most expensive steel in world in the United States, and compete with global competitors who have access to world market pricing," asked H.O. Woltz, who runs a company in Mount Airy, N.C. that twists steel wire into cables used to reinforce concrete.

    Herein lies the quandary. We pay our workers more. We pay more for bennies out of the pockets of the manufactures. We can give that up and sell more steel. xIf we pay our workers more, than we need the tariffs. Do we lose some of the international sales? I'm sure. That said, if we have the superior steel, people involved in construction may pay that in order to keep their buildings compliant with codes, and to make the lawyers happy. Especially for domestic steel. Concrete is another one. US standards are above most other countries for concrete strength. In the Middle East, their concrete is about 30% of the US standard. What does that do to a single-family house? Not much. What does it do to a large building? And something over 5 stories? A LOT. Here in FL, even a single-family house would be safer, as would any larger building, or "hurricane proof" structure. For AZ, it is a much better thermo defense. For the midwest/ tornado alley? Much safer buildings. If Chinese is just a little cheaper? contractors will go cheaper. If it's US standard in the contract? done deal. Americans go to work.


  13. by Indy! on June 6, 2025 10:26 am

    As usual, you only see half a point, OD. I never said we can't build anything. I said we're not manufacturing anything - there's a difference. You hit on it later (after Curt spelled it out for you) - if costs far more to do anything here than it does in China with slave labor. That's why we're not manufacturing anything - because once the global economy opened (thanks in large part to Clinton) - all the jobs were leaving. That's the "great sucking sound" Perot was talking about way back in the 1980s.


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