Trump celebrates 'total reset' in trade war with China



The U.S. and China have temporarily paused their trade war, which has significantly disrupted global trade and supply chains. The Dow Jones industrial average and the broader S&P 500 index leaped at the news.

President Donald Trump told reporters Monday morning, "Yesterday, we achieved a total reset with China after productive talks in Geneva."

"I think it's going to be fantastic for China. I think it's going to be fantastic for us," continued Trump. "I think it's going to be great for unification and peace."

Governments for the two superpowers noted in a joint statement Monday that recognizing both "the importance of their bilateral economic and trade relationship" and the "importance of a sustainable, long-term, and mutually beneficial economic and trade relationship," the U.S. and China will each roll back their tariffs on each other's goods 115% for a 90-day period.

The White House noted in a release, "This trade deal is a win for the United States, demonstrating President Trump's unparalleled expertise in securing deals that benefit the American people."

'China will realize that the days of ripping off the USA, and other Countries, is no longer sustainable.'

On April 2, Trump imposed 10% tariffs on all U.S. imports and also announced "reciprocal" tariffs targeting countries with the largest U.S. trade deficits. China was a prime target, as it had a record $295.4 billion trade deficit with the U.S. last year — the largest America had with any trading partner.

Trump issued a 90-day pause on his reciprocal tariffs just days later but made an exception for China, which had by that time imposed retaliatory tariffs against the United States.

"Based on the lack of respect that China has shown to the World's Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately," Trump stated on April 9. "At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable."

'Many things discussed, much agreed to.'

The tariffs shook up global markets and applied intense pressure on China.

Treasury Secretary Scott Bessent suggested last month that the high tariff rates between the U.S. and China — 145% against China, 125% against the U.S. — had effectively embargoed trade between the world's two biggest economies.

Bessent and U.S. Trade Representative Jamieson Greer met on Saturday with their Chinese counterparts in Geneva, Switzerland, to discuss the trade war.

Trump noted Saturday on Truth Social that the talks were going well.

"Many things discussed, much agreed to," wrote Trump. "A total reset negotiated in a friendly, but constructive, manner."

'Stocks are surging, safe havens are rapidly declining, and expectations for Federal Reserve rate cuts have been dramatically scaled back.'

China agreed to suspend the retaliatory tariffs it has imposed on American goods since April 4, but will retain a 10% tariff during the truce. The U.S. agreed that it would suspend the tariffs it imposed on China on April 8 and 9 but will similarly retain a 10% tariff, which the White House noted in a release "continues to set a fair baseline that encourages domestic production, strengthens our supply chains, and ensures that American trade policy supports American workers first, instead of undercutting them."

The U.S. will also retain tariffs imposed on China before April 2, including the tariffs imposed in response to the fentanyl national emergency — which Trump indicated has prompted meaningful action from Beijing.

When announcing the tariff reductions in Geneva, Bessent said, "The consensus from both delegations this weekend is neither side wants a decoupling," reported the Associated Press.

"And what had occurred with these very high tariffs ... was an embargo, the equivalent of an embargo. And neither side wants that. We do want trade," added Bessent. "We want more balanced trade."

Trump noted Monday that the government in Beijing has "agreed to open China, fully open China," but indicated that "it's going to take a while to paper that."

The markets were receptive to the news.

"Stocks are surging, safe havens are rapidly declining, and expectations for Federal Reserve rate cuts have been dramatically scaled back," Kathleen Brooks, research director at the investment group XTB told the Guardian. "The driver is the suspension of tariffs between China and the U.S. The U.S. has reduced tariffs on Chinese goods from 145% to 30%, and China has reduced tariffs on U.S. goods to 10%."

"The U.S. treasury secretary has said that tariffs won’t decline from this level, but he said that the deal brokered this weekend will bring an end to the trade embargo between the world’s two largest economies and is the end of de-escalation," added Brooks.

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Trump tells Glenn Beck the cold reality about tariff talks: 'I don't have to negotiate'



Blaze Media co-founder Glenn Beck sat down Wednesday with President Donald Trump to discuss the first 100 days of his second term. They broached a variety of topics in the interview, including artificial intelligence, American energy, cost-saving deregulation, potential military action in Mexico, and Democrats' efforts to protect a foreign MS-13 associate with human trafficking ties.

While forthcoming on these and other issues, Trump certainly minced no words on the matter of tariffs and trade, telling Beck that he negotiates with other countries out of respect, not necessity — that at the end of the day, the U.S. is still calling the shots and will not suffer abuse at the hands of lesser nations.

Trump declared April 2 "Liberation Day," indicating in advance that sweeping reciprocal tariffs were inbound. Sure enough, when the day came, the president held a ceremony at the White House where he displayed the new rates of tariffs for the European Union and for numerous countries including China, Japan, and Ukraine.

'People don't talk about that. Even I don't mention it enough.'

After announcing a baseline 10% tariff against nearly 90 countries and higher reciprocal tariffs for the European Union and other regions, Trump told the audience at the Rose Garden, "From this day on, we're not going to let anyone tell us American workers and families cannot have the future that they deserve."

Beck suggested to the president Wednesday that while his "Liberation Day" evoked the end of World War II, it was perhaps less a historical appeal and more a historic repeal.

"I'm wondering, because of all of the moves you've made — NATO, the endless wars, everything else that goes along with this — are you signaling to the world that this is not just tariffs — this is an end to the order that we built after World War II?" said Beck. "Because it might have been good after World War II for everybody, but we're not the suckers any more. That's long past. It's time to transform."

The president was receptive to the idea that April 2 marked an end to the postwar consensus.

"You've said it so well, because people don't talk about that. Even I don't mention it enough. We helped countries after World War II. We helped them rebuild," responded Trump. "... And we never stopped. And they became very successful. And they stole our businesses."

Trump emphasized that the U.S. — thanks to the complicity of his predecessors and the opportunism of friends abroad — has been "ripped off by every country" on trade as well as in terms of nonreciprocal military relationships such as NATO.

The president noted, for instance, that after the U.S. long guaranteed Europe's safety, continentals were prickled by his suggestion that they might have to front more of the cost of their security.

'They all want to come in and they want to take our product.'

The U.S. has been the leading payer of NATO's bills. As of December, its cost share of the alliance's civil budget, military budget, and NATO Security Investment Program was nearly 16%. In addition to pouring cash into the alliance, the U.S. also has over 100,000 troops deployed across Europe and routinely sinks cash into related defense initiatives.

"And they said, 'Well, does he really mean that?'" Trump told Beck. "And they said, 'You mean, if we don't pay the bill, you're not going to be here?' 'Nope, I'll be gone.'"

"We were defending them, and they were killing us with the European Union, which was formed for the sole purpose of taking advantage of the United States," said Trump. "And I said, 'This isn't going to go on.'"

The conversation turned back to the matter of tariffs, which Trump evidently figures are a means to settle scores where perceived trading imbalances are concerned.

"How do you negotiate with a group of elites who were for the World Economic Forum's 'Great Reset'?" asked Beck.

Trump responded with a dose of cold reality: "I don't have to negotiate. I don't have to negotiate. I'm talking to people out of respect, but I don't have to."

"We're this giant store that people want to come in and buy from. We're the United States. We have the richest consumers, etc., right?" said Trump.

While acknowledging that the financial health of this "giant store" is far from guaranteed, Trump indicated that for the time being, "they all want to come in and they want to take our product."

"To take our product, they're going to have to pay, and we'll either make a deal with them or we'll just set a price," continued Trump. "We're negotiating with 70 different countries. We're negotiating; we're showing great respect. But in the end, we may make deals — but either that or I just set a price. I said, 'Here's what you're going to pay for the privilege of servicing the United States of America.'"

"They don't have to shop at this big store, or they can shop. But in any event, they're going to have to pay," added the president.

— (@)  
 

Scores of countries have approached the U.S. to rectify trade imbalances. Citing this interest to make a deal and select countries' lack of retaliation, Trump announced a 90-day delay on reciprocal tariffs on April 9. He raised the tariff charged to China, one of the customers apparently contemplating their patronage of the American store.

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Trump raises eyebrows by sharing video claiming he's 'purposely CRASHING the market'



President Donald Trump raised eyebrows Friday by sharing a video on Truth Social that claims he purposefully crashed the stock market to "push cash into treasuries." Trump's timing was especially provocative because his rollout of tariffs the previous day resulted in a multi-trillion dollar market wipeout.

Trump shared a video by a supporter that was posted to X Thursday evening with the caption, "Trump is playing chess while everyone else is playing checkers."

The video — which appropriates narration from a March 13 Instagram post by finance influencer Brian Decker — first appeared on a TikTok page that previously accused Hollywood elites of eating mermaids.

In an apparent validation of the video and Decker's core theory, senior Trump adviser Jason Miller noted, "Genius! You have to watch this video!"

In the video, a seemingly computer-generated voice states: "Trump is crashing the stock market by 20% this month, but he's doing it on purpose, and this is why Warren Buffet just said Trump is making the best economic moves he's seen in over 50 years."

There appears to be no evidence of Warren Buffett publicly making such an assertion in recent weeks.

'He's taking from the rich short-term and handing it to the middle class through lower prices.'

On the contrary, in a CBS News interview that aired nearly two weeks before the TikTok video was published, Buffett told talking head Norah O'Donnell, "Tariffs are actually — we've had a lot of experience with them — they’re an act of war, to some degree."

When asked whether tariffs might lead to higher inflation, Buffett said, "Over time, they are a tax on goods. I mean, the Tooth Fairy doesn't pay 'em!"

According to the TikTok video, Trump intentionally crashed the stock market in order to "push cash into treasuries, which forces the [Federal Reserve] to slash interest rates in May, and those lower rates give the Fed the ability to refinance trillions of debt very inexpensively. It also weakens the dollar and drops mortgage rates."

The narrator notes further that Trump's tariffs amount to a "genius play," forcing "companies to build here to dodge them. It also forces farmers to sell more of their products here in the U.S. to bring grocery prices way down. We've already seen this with eggs."

The video shared by the Republican president concludes by asserting he is effectively engaged in a wealth redistribution scheme: "Now remember, 94% of all stocks are owned only by 8% of Americans so Trump, he's taking from the rich short-term and handing it to the middle class through lower prices."

Blaze News reached out to the White House for comment but did not immediately receive a response.

'It's definitely not some sort of fringe conspiracy theory.'

There has been speculation in recent days and weeks that Trump has, as Decker hypothesized, been pushing for a crash or at the very least significant market chaos.

Charlie McElligott, a strategist at Nomura, told clients in early March that Trump and his administration needed an engineered recession to trigger a growth slowdown and disflation that would result in Fed rate cuts and a weaker dollar, reported MarketWatch.

"It's definitely not some sort of fringe conspiracy theory," Ben McMillan, CIO at IDX Advisors, told Business Insider earlier in the week. "I think it's a coin flip as to whether or not it's the intention, but there have been some data points that suggest it's a non-trivial possibility in my mind."

Among the "data points" McMillan reportedly had in mind was Trump's suggestion at Davos that he'll demand interest rates fall and the president's unconventional approaches to tackling the debt problem, such as gold card residency permits.

Trump just happened to state in a Truth Social post Friday morning, "This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates."

While Forbes took issue with various falsehoods in the TikTok video, it noted that "to that theory's credit," yields for U.S. Treasury notes collapsed this week — which will likely mean cheaper borrowing. However, Forbes noted that lower Treasury yields can alternatively be achieved without tanking the markets, namely "by restoring fixed income investors' confidence in the federal government’s fiscal health through more austere spending."

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