Trump's China Decision, Potential Tax Increase For Rich, Elon Steps Back from DOGE: AM Update 4/24
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What is President Trump's new tariff policy towards China?
He also may impose a tiered system, 35 percent levies on goods not considered a threat to national security. and at least 100% for goods that do pose that threat. The Journal noting the president has yet to make a final decision. On Tuesday, President Trump signaling openness to working nicely with the Chinese, making clear neither the previous setup nor the current status quo will stand.
I'm not going to say, oh, I'm going to play hardball with China. I'm going to play hardball with you, President Xi. No, no. We're going to be very nice. They're going to be very nice. And we'll see what happens. But ultimately, they have to make a deal because otherwise they're not going to be able to deal in the United States. So we want them involved. But they have to and other countries have to make a deal. 145 percent is very high and it won't be that high. It's not going to be that high. It'll come down substantially, but it won't be zero. It used to be zero. We were just destroyed. China was taking us for a ride and it's not going to happen. So I think it's going to work out very well. But no, it's at 145 percent.
There will not be anywhere near that number.
President Trump reportedly looking to speak with Chinese President Xi Jinping directly, an idea the Chinese are resisting without an agreed-upon framework. On Wednesday, President Xi telling reporters, quote, tariff wards and trade wars harm the legitimate rights and interests of all countries. A spokesperson for the Chinese foreign ministry later doubling down, telling reporters the U.S. must, quote, stop its threats and coercion and engage with China on the basis of equality, mutual respect, and reciprocity. Treasury Secretary Scott Besson speaking on Wednesday at the International Finance Forum, arguing China has more to lose and gain from a deal rebalancing their export-heavy economy.
China in particular is in need of a rebalancing. China's economic system, with growth driven by manufacturing exports, will continue to create even more serious imbalances with its trading partners if the status quo is allowed to continue. China's current economic model is built on exporting its way out of its economic troubles. It's an unsustainable model that is not only harming China, but the entire world. China needs to change. The country knows it needs to change. Everyone knows it needs to change. And we want to help it change because we need rebalancing too.
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Chapters
6 chapters
1
What is President Trump's new tariff policy towards China?
1:52–9:35
2
How is Trump addressing the potential tax increase for the wealthy?
9:35–10:08
3
What are the implications of the tax changes proposed by Trump?
10:08
4
What is Tom Homan's stance on immigration and deportation efforts?
5:33–7:45
5
How is the market reacting to Trump's economic policies?
7:45–12:05
6
What are the concerns regarding Senator Durbin's credit card plan?
12:05–14:50
Speakers
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