State media is reporting that:
- China's Pres. Xi and US Pres. Trump held talks.
- Both sides should expand list of cooperation
- Xi clarified China's position on Taiwan issue
- Xi tells Trump return of Taiwan to China an important part of post-war international order
- Should strive for more progress in bilateral ties
- Should open new space for cooperation
- two leaders talked about Ukraine crisis
- On Ukraine crisis urges all parties to reduce differences.
- China, US should jointly safeguard victorious outcome of World War II
With Trump rating and low, there is a focus on the US economy and that is connected to China. Trump posted on Truth Social this morning that
Despite the massive amount of money being made by the United States of America, Hundreds of Billions of Dollars, as a direct result of Tariffs being charged to other countries, the full benefit of the Tariffs has not yet been calculated in that many of the buyers of goods and products, in order to avoid paying the Tariffs in the short term, “STOCK UP” by purchasing far more inventory than they can use. That heavy inventory purchase is now, however, wearing thin, and soon Tariffs will be paid on everything they apply to, without avoidance, and the amounts payable to the USA will SKYROCKET, over and above the already historic levels of dollars received. These payments will be RECORD SETTING, and put our Nation on a new and unprecedented course. We are already the “hottest” Country anywhere in the World, but this Tariff POWER will bring America National Security and Wealth the likes of which has never been seen before. Those opposing us are serving hostile foreign interests that are not aligned with the success, safety and prosperity of the USA. They couldn’t care less about us. I look so much forward to the United States Supreme Court’s decision on this urgent and time sensitive matter so that we can continue, in an uninterrupted manner to, MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter! President DJT
His focus on revenues seems good, but the other countries may or may not pay. If they lower prices and eat the cost of exports, they will effectively pay. If the importer pays the tariff and eats the cost, that is good. If the importers pay the tariff and raise prices that is not good for inflation even if it is one off. People not only want lower inflation (change in prices over time) but lower prices.(i.e. lower prices for goods and services).
