The President's Daily Brief
PDB Afternoon Bulletin | November 26th, 2024: Trump's Tariff Threats & Baltic Plane Crash Sparks Sabotage Speculations
Tue, 26 Nov 2024
In this episode of The PDB Afternoon Bulletin: First, President-elect Donald Trump declared his plans to enact sweeping new tariffs on Mexico, Canada and China the day he takes office. We’ll discuss the implications of this looming trade war, and how global leaders are reacting to the news. Then, we turn to the Baltic, where a recent cargo plane crash in Lithuania is being investigated as a potential act of sabotage or “hybrid warfare.” To listen to the show ad-free, become a premium member of The President’s Daily Brief by visiting PDBPremium.com. Please remember to subscribe if you enjoyed this episode of The President's Daily Brief. YouTube: youtube.com/@presidentsdailybrief Blackout Coffee: https://www.blackoutcoffee.com/PDB Learn more about your ad choices. Visit megaphone.fm/adchoices
Chapter 1: What are Trump's plans for tariffs on Mexico, Canada, and China?
Welcome to the PDB Afternoon Bulletin. I'm Mike Baker, your eyes and ears on the world stage. Let's get briefed. First, President-elect Donald Trump declared his plans to enact sweeping new tariffs on Mexico, Canada, and China the day that he takes office. We'll discuss the implications of this potential looming trade war and how global leaders are reacting to the news.
Then we turn to the Baltic, where a recent cargo plane crash in Lithuania is being investigated as a potential act of sabotage or hybrid warfare. But first, our afternoon spotlight. President-elect Donald Trump declared his intent Monday to slap Mexico, Canada, and China with steep tariffs after taking the oath of office on 20 January.
That's a threat that would make good on one of his key campaign promises that helped propel him to victory in the recent election. Trump's first targets are Mexico and Canada, and what he argues are imbalances in the North American Free Trade Pact.
On day one in office, Trump said he will impose a 25% tariff on all products entering the country from America's northern and southern neighbors, whom he blamed for facilitating illegal immigration and fentanyl abuse in the U.S., according to a report from the Wall Street Journal.
Talking on Truth Social Monday evening, Trump said, "...both Mexico and Canada have the absolute right and power to easily solve this long-simmering problem. We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price."
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Chapter 2: What implications do Trump's tariff threats have for global trade?
Separately, Trump announced plans to hit China with a 10% tariff on imports, also citing their failure to regulate chemicals fueling the international production of deadly fentanyl. Trump said that he has, quote, had many talks with China about the massive amount of drugs, in particular fentanyl, being sent into the United States, but to no avail. He continued, quote, until such time as they stop.
we will be charging China an additional 10% tariff above any additional tariffs on all their many products, end quote.
Now, given how early in his transition Trump announced these plans, the major question is whether the tariff threats are a negotiating tactic to force concessions from our trade partners before he assumes office in January, or whether they signal the beginning of a larger effort by Trump to rewrite the terms of global commerce.
Michael Hart, the president of the American Chamber of Commerce in China, told the Wall Street Journal, quote, A lot of people expect Trump to be a negotiator, so I think this is a beginning of discussions or beginning of negotiations, end quote. Regardless, the news has left foreign leaders and business titans rattled. It's worth noting that the U.S.
is the largest importer of foreign goods, with China, Mexico, and Canada making up the U.S. 's top three global suppliers. As the tariffs would cover roughly 40% of all U.S. trade, economists are concerned that if implemented, they could significantly raise the price of consumer goods, of course, at a time when Americans are still grappling with inflation and high interest rates.
Leaders in China, well, here's a surprise, did not take kindly to the threat, warning Trump Monday evening that, quote, no one will win a trade war or a tariff war, alluding to the U.S. and China's mutual economic dependence. China's foreign ministry went as far as to say the U.S. should, quote, cherish China's goodwill when it comes to joint counter-narcotics cooperation. Huh.
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Chapter 3: How are global leaders reacting to Trump's tariff announcements?
Chapter 4: What is the significance of the cargo plane crash in the Baltic?
Then we turn to the Baltic, where a recent cargo plane crash in Lithuania is being investigated as a potential act of sabotage or hybrid warfare. But first, our afternoon spotlight. President-elect Donald Trump declared his intent Monday to slap Mexico, Canada, and China with steep tariffs after taking the oath of office on 20 January.
That's a threat that would make good on one of his key campaign promises that helped propel him to victory in the recent election. Trump's first targets are Mexico and Canada, and what he argues are imbalances in the North American Free Trade Pact.
On day one in office, Trump said he will impose a 25% tariff on all products entering the country from America's northern and southern neighbors, whom he blamed for facilitating illegal immigration and fentanyl abuse in the U.S., according to a report from the Wall Street Journal.
Talking on Truth Social Monday evening, Trump said, "...both Mexico and Canada have the absolute right and power to easily solve this long-simmering problem. We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price."
Separately, Trump announced plans to hit China with a 10% tariff on imports, also citing their failure to regulate chemicals fueling the international production of deadly fentanyl. Trump said that he has, quote, had many talks with China about the massive amount of drugs, in particular fentanyl, being sent into the United States, but to no avail. He continued, quote, until such time as they stop.
we will be charging China an additional 10% tariff above any additional tariffs on all their many products, end quote.
Now, given how early in his transition Trump announced these plans, the major question is whether the tariff threats are a negotiating tactic to force concessions from our trade partners before he assumes office in January, or whether they signal the beginning of a larger effort by Trump to rewrite the terms of global commerce.
Michael Hart, the president of the American Chamber of Commerce in China, told the Wall Street Journal, quote, A lot of people expect Trump to be a negotiator, so I think this is a beginning of discussions or beginning of negotiations, end quote. Regardless, the news has left foreign leaders and business titans rattled. It's worth noting that the U.S.
is the largest importer of foreign goods, with China, Mexico, and Canada making up the U.S. 's top three global suppliers. As the tariffs would cover roughly 40% of all U.S. trade, economists are concerned that if implemented, they could significantly raise the price of consumer goods, of course, at a time when Americans are still grappling with inflation and high interest rates.
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