China says no ongoing trade talks with the U.S., calls for canceling ‘unilateral’ tariffs
"At present there are absolutely no negotiations on the economy and trade
between China and the U.S.,” said Ministry of Commerce Spokesperson He
Yadong. ... "If the U.S. really wants to resolve the problem ... it should cancel all the unilateral measures on China,” He said.
The Treasury Secretary would know, of course, because he has to report income and outlays every month.
One person who witnessed the dispute said:
It was quite a scene. It was loud. And I mean, loud.
The story is here.
The casualties of America’s loss of glassware manufacturing to China
... the U.S. glass industry lost almost 40,000 manufacturing jobs between 2000 to 2008. At the same time, China’s share of the U.S. market rose from 3% to 31%.
Boeing hopes to find new buyers for up to 50 planes returned by China
... Two Boeing jets have returned to the US from China,
with another on the way, after the imposition of steep 125% tariffs on
American imports. China imposed the levies in retaliation to the White
House’s 145% rate that threatens to significantly slow down the world
economy. ...
Blank Sailings Rattle Trans-Pacific Trade as China Imports Nosedive
... Container shipping companies have blanked at least 80 sailings this month, compared to 51 in March 2020, when volumes crashed amid early Covid-19 lockdowns, Sea-Intelligence said. ...
Bloomberg published the story just before noon on Tuesday reporting the closed-door meeting where Bessent said he expected the tariff stand-off with China to de-escalate, and that the current situation, which amounts to a trade embargo, is unsustainable and will de-escalate in the very near future.
Markets opened Tuesday morning strongly higher and by 11:00 AM were up 110 points on the $SPX.
The Secretary of the Treasury shouldn't be having closed door meetings with the very people most likely to profit from what he has to say.
This is quite literally fascist economics.
... Spot gold slipped 2.2% at $3,305.79 an ounce by 09:23 a.m. ET (1323 GMT), after hitting a record high of $3,500.05 in the previous session. U.S. gold futures dropped 2.9% to $3,320.40. ...
More.
The chutzpah of these parasites is really something, but Real Clear should be ashamed for promoting it.
The billionaires complain that expenditures far outpace revenues, but taxes must never be raised to pay for them:
"My answer on tax policy, what should tax rates be? Just always a little bit lower. I'm not going to tell you the number, they should always be a little bit lower."
Billionaires for tax cuts!
Meanwhile the $40 billion USAID budget was nothing but a virtue signaling food for the poor scam to these two:
"And so much of this left-wing philanthropy nonprofit world, I think it was just a cover for borderline criminal activity."
Spot gold was up 1.4% at $3,472.49 an ounce, as of 0247 GMT, after touching a record high of $3,473.03 per ounce earlier in the session.
More.
Hochul fought back, declaring: “The cameras are staying on.” ...
Gold surges to a record above $3,400 as Trump threatens Fed independence
Gold prices broke $3,400 on Monday, hitting a new record as President Donald Trump’s threats against the Federal Reserve’s independence and his tariffs shake investor confidence in the U.S. economy.
Gold futures jumped about 2.69% to $3,418 per ounce by 8:20 a.m. ET on Monday, with investors buying the precious metal as the dollar hit a three-year low.
Gold has jumped about 29% since the start of the year and nearly 8% since Trump unveiled his sweeping tariffs on April 2.
Trump said last Thursday that Fed Chair Jerome Powell’s “termination cannot come fast enough,” after the U.S. central bank chief warned that the president’s tariffs will likely increase inflation in the near term. ...
Video from Friday night shows Immigration and Customs Enforcement buses full of Venezuelan migrants headed toward an airport in North Texas before abruptly turning around before the Supreme Court ruled the Trump administration must, for now, refrain from deporting Venezuelan men based in the state under the Alien Enemies Act. ...
As the motorcade was headed for the airport, a last-minute federal hearing on the matter was taking place in Washington.
U.S. District Judge James Boasberg, who has been hearing a case related to the flights to El Salvador, scheduled an emergency hearing for Friday evening — just hours after a bus rolled up to Bluebonnet.
Shortly before that hearing kicked off, ACLU attorneys also asked the Supreme Court to step in.
“We hear they are on buses on the way to the airport,” said Lee Gelernt, the lawyer for the ACLU arguing on behalf of detainees on the verge of being deported under the Alien Enemies Act. ...
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| sirloin |
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| chuck roast |
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| beef roasts |
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| beef steaks |
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| ground beef |
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| ice cream |
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| sugar |
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| coffee |
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| orange juice |
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| chicken |
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| ground chuck |
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| round steak |
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| round roast |
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| American cheese |
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| beer |
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| wine |
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| electricity |
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| eggs |
There were six years when all three, the unemployment rate, headline inflation, and 10-year US Treasury yield, were at 6% or higher on an average basis at the same time:
1975: 8.5% 9.14% 7.99%
1977: 7.1% 6.46% 7.42%
1978: 6.1% 7.62% 8.41%
1980: 7.2% 13.5% 11.43%
1981: 7.6% 10.37% 13.92%
1982: 9.7% 6.15% 13.01%.
In March 2025 unemployment was 4.2%, headline inflation was 2.4%, and the 10Y yielded 4.28%.
The current data set is no compelling case for reducing interest rates. If Trump had confidence in his tariff regime, he wouldn't be clamoring for further reductions.
