Trump made it to the G7 meeting with fire in his eyes. China slammed the Trumpster with a 25 percent tariff on U.S. made auto and trucks. That means Detroit, Germany and Japan car companies will take a revenue hit from that retaliatory move.
Trump started his meeting by threatening to put a 100 percent tariff on French wines. Macron told the press G7 members want to convince Trump to stop using tariffs to gain control. EU members blame Trump for part of their eroding economy. Even Boris Johnson thinks Trump should ease up on his tariff trigger.
Angela and Boris had a come to Brexit meeting before they arrive in that glorious part of France. Merkel told Johnson to forget about changing the backstop clause. She also told him not to listen to Trump when he tells him to leave without a signed agreement, Merkel told the European press that idea had signs of stupid all over it,
Macron also wants to change the Trumpster’s mind about climate change. But climate change doesn’t exist in Trump’s world. He measured the temperature by how many under the table deals he can make while he’s president, according to the New York Times.
Trump’s tariff temper is one reason Jerome Powell told Trump to cool his jets and make a deal with the Chinese. Powell and other Reserve Board members can’t measure the damage Trump keeps doing to the global economy. And that unknown has the board divided in terms of how to handle the trade box Trump wants to put them in.
Mr. Trump said Jay Powell is a bigger U.S. enemy than President Xi. Trump’s latest tariff outburst will cost every American more than $1,000 a year. And companies that import and export are on the Trump tariff roller coaster, and some economists claim that roller coaster is ready to derail.
The Huawei ban, and Trump’s latest demand that all American companies stop doing business with China, immediately. Trump ran a knife through the heart of Silicon Valley when he emptied his tariff diaper on China. Apple, Microsoft, Google and other big companies depend on China. Prices, deliveries, and quality control issues will eat into those large cash reserves those companies have.
China wants Trump to meet them halfway. The Chinese also want Trump to drop the tariffs and release the Huawei ban. China also wants him to give Canada the okay to release Huawei’s CFO Meng Wanzhou, according to the Times.
