MeidasTouch host Ben Meiselas reports on Donald Trump retreating on his tariff war against China and getting nothing in return as Trump looks utterly pathetic and weak. Head to qualialife.com/meidas and use promo code: MEIDAS at checkout for 15% OFF your purchase of Qualia's products. Visit https://meidasplus.com for more! Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af MissTrial: https://meidasnews.com/tag/miss-trial The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Coalition of the Sane: https://meidasnews.com/tag/coalition-of-the-sane Learn more about your ad choices. Visit megaphone.fm/adchoices
Chapter 1: What happened in Donald Trump's trade war with China?
Pathetic, weak, and humiliating. Donald Trump was just broken before the entire world in his disastrous trade war with China as Donald Trump pulled back most of the tariffs imposed on China after Donald Trump said that those tariffs were going to bring so much manufacturing back to the United States and it was going to make the United States so rich
that we wouldn't even need income taxes in the United States anymore because those tariffs would replace it. Donald Trump effectively surrendered as he was broken before the world. If you want to see how China is viewing this, look at how its state regime media is talking about it today.
They are posting cartoon images like this of an Uncle Sam character getting uppercut in the face by a character representing tariffs. More on that in a little bit. What I want you to focus on as well, when you take a look at the joint statement on US-China economic and trade meeting in Geneva released by the United States and China, I want you to notice what's missing about that.
Do you notice that it doesn't use the word deal joint statement on deal? Why? Because it was not a deal. It was a retreat by Donald Trump after what he imposed on China. China has referred to this as a consensus that was reached. And the consensus basically is for the United States to pull back. what it did and what it said it was going to be so great.
If you take a look at the details of what took place, it effectively means the U.S. will temporarily lower its overall tariffs on Chinese goods from 145% to 30%, while China will cut its levies on American imports from 125% to 10%, according to the joint statement. statement. Why? Because China recognized that tariffs are a tax on its own importers that are then passed through to consumers.
So China's effectively taxing its own consumers at a rate of 10%, while the United States is still taxing its consumers at 30%. But the United States pulled back from 145% to 30% after a few days ago, Donald Trump saying, I don't know, maybe we'll do 80%. And then Donald Trump's commerce secretary, Howard Lutnick, who some call Nutlick, said, I don't know, maybe it'll be 50%.
Well, now it is 30% right there. And again, this is after Donald Trump said that this is what's gonna make us all rich. The more tariffs, the better, Trump said, right? And he said the fact that ships aren't coming into our ports which we were warning about in the United States, right? We had Governor Gavin Newsom show up and say, the ships aren't coming to Oakland.
The ships aren't coming to Long Beach, which is in Los Angeles. We also know the ships weren't coming to Seattle. But Trump said that was a great thing. So I guess that's not a great thing. thing after all right there. And the markets seem to think that Trump's tariff war against the world is not a great thing because the markets are reacting very positively to Donald Trump's retreat right now.
You want to see how it's being reported in financial terms. Barron's, the financial magazine, says the following. Trump blinked big time on China trade, taking the worst case off the table. The Trump administration has blinked big time. And if you're saying, well, what did Donald Trump get in return? Absolutely nothing.
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Chapter 2: Why did the US-China joint statement avoid calling it a deal?
really, when you talk about the quote unquote deal between the United States and the United Kingdom, it's just a phony thing. Here, play this clip.
Let me characterize the whole deal for you. It's 10%. I want you to write that in big font on a big piece of paper, 10%, and there's a little asterisk next to it. The 10% matters because it basically said Trump walked in and he said, I am imposing a 10% tariff on Americans who buy goods from Britain, no matter what.
And then he said, there's an asterisk up here which says, now let's start making a deal. And the making a deal was a promise to have further chats about further conversations, which actually gets very close to nothing done.
It was basically collusion between the British prime minister and the American president to go out and each lie to their respective populations to pretend each had gotten something done with the other. The reality is this deal does nothing except actually cement in place Higher tariffs, to be clear, taxes on Americans who buy goods from the United Kingdom, with a carve out for Rolls Royces.
And here, Professor Wolfers talks about how the economics of the special tar tariff carve out for British made luxury vehicles really reveals Donald Trump's true intentions here, which is to basically help luxury brands that he likes, I guess, while manipulating the markets. Here, play this clip right here.
What's amazing is the President actually said, well, we've got to give them a break on the Rolls Royces because they're a beautifully made, handcrafted car. The whole point of the tariffs is to bring production to America. I get British craftsmanship, but if the President doesn't think we're capable of learning how to stretch leather over a car seat, we have tariffs on bananas.
No American worker is ever going to learn how to grow bananas. We have tariffs on vanilla. We can't grow vanilla. We have tariffs on diamonds. We can't mine diamonds. But we did decide that the one thing we definitely can't do is Rolls Royces, so we should have a special carve-out.
Well, there you have it, folks. Let me know what you think. Hit subscribe. Let's get to 5 million subscribers. And thank you for watching.
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