Pressure mounts EVERY HOUR on him to back away from his effort to ‘game’ China, the country that provides America with everything in a .99 cent store to high priced consumer products….
Treasury Secretary Scott Bessent confirmed in congressional testimony that no negotiations with China over tariffs have occurred since President Trump announced his controversial new trade policy roughly a month ago.
For members: Trump Signals Retreat on China Tariffs
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Mattel CEO Ynon Kreiz told CNBC he does not foresee toy manufacturing coming to America.
Instead, the company expects to raise prices in the U.S. to offset President Trump’s 145% tariff on Chinese imports.
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“The U.S. trade deficit widened to a record high in March as businesses boosted imports of goods ahead of tariffs, which dragged gross domestic product into negative terrain in the first quarter for the first time in three years,” Reuters reports.
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“President Donald Trump and his top aides have settled on a decidedly non-Trumpian message for American businesses and consumers panicked by his trade war: Be patient,” Politicoreports.
“Ahead of the next stage of economic fallout, that plea is already wearing thin.”
“U.S. manufacturers and retailers are bracing for a massive drop-off in goods arriving from China, as ports across the West Coast warn of a plunge in shipments not seen since the early days of the Covid pandemic.”
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