Posted originally on CTH on May 6, 2025 | Sundance
The media have been going bananas wondering when President Trump will begin negotiations with China. President Trump has been very clear that there is no need to open negotiations with China, but all discussions are welcome.
Essentially the point is that tariffs will remain in place until Beijing gets to a point where they acquiesce to the reality of President Trump’s terms for reciprocal trade. The goal is to bring manufacturing back to the USA, not generate terms where manufacturing remains in China.
The Chinese trade delegation is scheduled to be in Switzerland at the same time as Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer are scheduled to be there. Both Bessent and Greer announced today they will meet with their Chinese counterparts on the sidelines of their travel to Switzerland.
USTR Press Release– […] “At President Trump’s direction, I am negotiating with countries to rebalance our trade relations to achieve reciprocity, open new markets, and protect America’s economic and national security,” said Ambassador Greer. “I look forward to having productive meetings with some of my counterparts as well as visiting with my team in Geneva who all work diligently to advance U.S. interests on a range of multilateral issues.”
While in Switzerland, Ambassador Greer will also meet with his counterpart from the People’s Republic of China to discuss trade matters.” (link)
Treasury Secretary Press Release – “During Secretary Bessent’s visit to Switzerland, he will meet with President Karin Keller-Sutter of Switzerland, during which the Secretary will follow up on their recent meeting on the sidelines of the recent World Bank Group (WBG) – International Monetary Fund (IMF) Spring Meetings.
While in Switzerland, Secretary Bessent will also meet with the lead representative on economic matters from the People’s Republic of China (PRC). (link)
As we previously noted, the Swiss are very interested in resolving their trade status quickly.
The Swiss Franc is now at the highest point against the U.S dollar in decades. One franc is worth 1.21 dollars. This makes their exports cost even more. The Swiss government desperately needs to lower the value of their currency. The Swiss central bank has already dropped interest rates to 0.25% and is now contemplating negative interest rates as a result.
Posted originally on CTH on May 6, 2025 | Sundance
The Supreme Court lifted a lower-court judge’s ruling that paused the administration’s ban on mentally unstable people who were uncertain of their gender. The DEI judges (Latino, Lesbian and Black) dissented.
Previously, President Trump stopped allowing transvestites to participate in military service for obvious ‘mission critical’ reasons. A lower court said that was unconstitutional and blocked the ban. The Supreme Court has ruled 6-3 that stopping psychologically unstable trans-identifying people, was within the scope of authority of the commander in chief.
WASHINGTON – […] The brief one-page order — delivered over the dissent of the three liberal justices — lifted a lower-court judge’s ruling that had paused the administration’s ban, concluding it was likely unconstitutional and based on distortions of limited research on the subject. The Trump administration had argued that the courts are required to nearly always defer to the military’s determinations about readiness, lethality and unit cohesion.
Neither the majority nor the dissenters provided any reasoning for their positions.
The order, which followed an emergency appeal from the Trump administration, is not a final ruling on the issue, but will remain in place as litigation proceeds.
Two federal district judges had previously blocked the administration’s ban, finding the move was so unsupported that it could not be sustained even when showing great deference to military leaders. The judges also ruled that the military had to resume medical care for transgender service members. (read more)
Posted originally on CTH on May 6, 2025 | Sundance
I have watched it so many times and each time I have to pause it to stop laughing. When you consider everything in the lead up to this event, this really is the best press availability ever.
At 29:37 of the video below, President Trump is asked:
MEDIA: “Is there anything the Prime Minister can say to you today to change your mind on tariffing Canada?” … “Is there anything he can say to you, in the course of your meeting today, that could get you to lift tariffs on Canada?”
TRUMP: “No.”
MEDIA: “Why not?”
TRUMP: “Just the way it is.”
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The last five minutes are so funny, so brutally honest, so genuinely instructive of the baseline from which all of the future trade aspects will take place, that it just makes you laugh at the simplicity of the problem that Canada faces. “We don’t really want cars from Canada,” in reality we don’t want anything from Canada… lolol.
“Look, this is all friendly.” Carney is just sitting there, like a doofus.
Posted originally on CTH on May 6, 2025 | Sundance
I don’t want to say ‘I toldya so’, but…. Listen carefully to the answer to the first question at (05:00 minute mark) as President Trump responds to the question about the USMCA with Canadian Prime Minister Mark Carney next to him. The USMCA is “effective, and it’s still effective, but people have to follow it,” inferring the issues of Canada as a tool to avoid China tariffs, President Trump said.
Then comes the part everyone will overlook as President Trump notes, “as you know it terminates fairly shortly. It gets renegotiated fairly shortly.” Then comes the biggest statement, “this was a transitional deal, and we’ll see what happens, we’re going to start renegotiating that”… “I don’t know if it serves a purpose anymore.” …. “And the biggest purpose it served was, we got rid of NAFTA.” This presents the future of the USMCA and specifically the U.S-Canada aspect to the trade deal exactly as we anticipated.
President Trump is going to exit the trilateral USMCA in favor of two distinctly different bilateral trade agreements between the U.S and Mexico; and the U.S and Canada. The only consideration now is the timing. President Trump is 100% focused on the BIG ECONOMIC PICTURE; it’s not about the politics, it’s all about the economics. [Also pay attention to USTR Jamieson Greer] WATCH:
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Prime Minister Mark Carney knows what is coming. His response about stepping up their military spending to meet NATO obligations is part of that dynamic.
The 51st state remarks were all about getting Canada into a position where Trump is about to open up two distinctly different bilateral trade agreements. The relationship that Canada has with China is a major risk to Carney’s position. Canada doesn’t stand a chance. In essence, at the end of this journey of economics North American trade is going to be entirely different.
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