Valuetainment - “China Blinked” - Trump's Tariff War Pressures Xi To CAVE As China's Economy TANKS

00:00:00.000 U.S. President Trump in an NBC media press interview with host Kristen Welker

00:00:03.960 refused to drop tariffs to bring China to a trade talk, stating

00:00:07.580 no, when asked if he would ever lower them, and adding at some point I'm going to

00:00:12.080 lower them because otherwise you would never do business with them. He claimed China's

00:00:15.920 getting killed right now with their factories closing and unemployment going

00:00:19.840 through the roof, asserting his tariffs are devastating China's economy.

00:00:23.860 Trump defended his tariff strategy, arguing it benefits large industries,

00:00:28.240 telling Welker the car industry are going to make a fortune in citing

00:00:32.720 multi-billion dollar investment from companies like Toyota Honda, General Motors,

00:00:37.080 Stellantis, and Apple to build U.S. plants. Is this the one, Rob,

00:00:40.740 that we're talking about? Yes, so it's separated in two clips. The first clip is him

00:00:44.620 talking about not lowering the tariffs. The second one is him talking about the

00:00:47.860 benefits on the auto industry. Which one would you prefer? Play both of them.

00:00:51.380 Okay. Play both of them. Here's the first one. You're not dropping the tariffs

00:00:55.600 against China to get them to the negotiating table. Those tariffs are staying on.

00:00:59.820 Why would I do that? Would you lower them?

00:01:02.080 At some point I'm going to lower them because otherwise you could never do business with them.

00:01:05.940 Yeah. And they want to do business very much. Look,

00:01:08.940 their economy is really doing badly. Their economy is collapsing.

00:01:13.080 And here's the auto tariffs. So small businesses say they are being hurt by the Chinese tariffs and

00:01:20.680 some could be forced to shut down. And many businesses are being helped.

00:01:23.740 Are you considering tariff relief for small businesses?

00:01:26.280 Why do you always mention that, you know, you pick up a couple of little businesses.

00:01:30.600 What about the car business? They're going to make a fortune because of the tariffs.

00:01:34.680 Do you know that the union, the head of the union, who was no fan of mine,

00:01:37.840 Fane, Sean Fane, I guess his name is, right? He didn't endorse me. The Teamsters did.

00:01:42.960 A lot of people did. A lot of unions did. But he didn't. He couldn't stand me.

00:01:47.280 Now he's saying, wow, what's Trump's done for the automobile? I can't believe it.

00:01:52.440 I assume he's going to probably now say the next thing he can say is I endorse this guy.

00:01:57.280 He's the greatest I've ever seen. He can't believe it's happened. He said,

00:02:00.060 we've been waiting 40 years for somebody to do what Trump is doing.

00:02:04.040 So why don't you mention the big car industry instead of mentioning somebody that's doing

00:02:09.500 strollers? Well, I'm just asking you about small businesses.

00:02:12.740 Are there any discussions about giving any relief to small businesses?

00:02:17.280 They're not going to need it. They're going to make so much money if you build your product here.

00:02:23.900 Remember, there are no tariffs if you build your product here. It's very easy. It's very simple.

00:02:30.920 Pause right there, Tom. Thoughts?

00:02:32.480 Well, one thing the president's really right about, and that mainstream media is not talking about it,

00:02:37.040 but I found an article in the Wall Street Journal, and there's a couple writers for the journal that I happen to like,

00:02:45.200 one of them I like, because of the quality of his work and he's very numbers-oriented.

00:02:50.080 So they pointed out, how bad is China's economy?

00:02:52.800 Well, in the fourth quarter of 23, they suddenly stopped releasing data on certain things.

00:03:03.320 For instance, I'll show you this.

00:03:05.560 China's unemployment for ages 16 to 24.

00:03:08.480 We see here, there it is.

00:03:11.360 Keep going. Keep going, Rob.

00:03:12.820 Rob's got the article. Fantastic.

00:03:14.540 Unemployment. Keep one more, one more, one more, so people can see it.

00:03:18.480 No, that's not in sale. One more.

00:03:19.640 There it is. Watch this, Pat.

00:03:22.060 So the unemployment rate for people 16 to 24, China is releasing it.

00:03:27.480 Adam, look at this. Tell me what you think.

00:03:29.220 All of a sudden, the data stops toward the end, in the middle of 2023.

00:03:33.480 Why does it stop?

00:03:34.540 It stops because the line was crossing 20%.

00:03:38.040 The unemployment rate for people 16 to 24 in China is over 20%.

00:03:44.940 And similarly, they showed the number of people in urban areas who are receiving China's equivalent of unemployment benefits.

00:03:53.760 You can go one more chart there.

00:03:56.320 One more chart.

00:03:58.320 No, go back.

00:03:59.420 Go back up.

00:04:00.280 Well, he's getting that.

00:04:01.320 Unemployment benefits.

00:04:02.840 One more.

00:04:03.580 There.

00:04:04.100 No.

00:04:04.720 Unemployed insurance benefits?

00:04:05.820 That's it.

00:04:06.380 All of a sudden, all of a sudden, the number of people is heading toward 3 million.

00:04:10.980 Look at those numbers going up.

00:04:12.620 That's the effect that the rest of the world had on COVID when they couldn't buy stuff and they were locked up.

00:04:16.600 So China is suppressing its stats so that the rest of the world cannot see what's going on.

00:04:23.240 And Trump is correct that the Chinese economy, specifically the real estate industry and unemployment among the youth and people getting welfare in big cities is rising. 0.85

00:04:35.740 Unemployment is now over 20% for those people 16 to 24.

00:04:40.020 So Trump is correct. 0.80

00:04:41.380 China's economy is in a tough spot.

00:04:43.920 However, when you have a government that really doesn't care about its people and a government says, oh, we're playing the long game, the long game includes incredible misery and hardship on the inside of its country.

00:04:56.140 And yet it doesn't let everybody see it.

00:04:58.260 And thank you to The Wall Street Journal for digging up all the stuff where the data stops.

00:05:02.500 They stopped releasing data to the rest of the world.

00:05:04.680 So it cannot be used to negotiate with them or against them.

00:05:08.100 But it's it's bad.

00:05:10.280 Adam.

00:05:11.200 So the question is, what?

00:05:13.080 Should we decouple from China? 0.97

00:05:14.780 Are these tariffs working?

00:05:15.940 Are there reciprocal tariffs working?

00:05:17.360 We imposed 140 percent.

00:05:19.580 I think they hit back at 125 percent.

00:05:21.820 Is the question whether this is a good deal or bad deal?

00:05:24.840 I guess what's the question that we're looking that we're solving for right now?

00:05:28.420 What Trump said, China's economy was in trouble.

00:05:31.480 And if you make point one point two, he said the American auto industry, including the unions, are going to thank him.

00:05:37.040 And I think Ford CEO Jim Farley was already saying, hey, I may have to update my my guidance for the year and my revenue and my profit.

00:05:44.780 But I make more here than anybody else.

00:05:46.660 And I think we're ultimately going to be a win.

00:05:48.680 And then the unions allegedly have now come out and said, you know, this does help our union workers.

00:05:55.900 Are you really asking what is the question?

00:05:58.380 So I'm trying to under a minute and a half of us talking about it.

00:06:01.040 You're saying, what's the question?

00:06:01.940 That's not what we just said.

00:06:03.300 So Trump says he will not drop tariffs to come to get China to the negotiating table.

00:06:07.960 Now, if you have thoughts, if you want us to clarify it, it's what do you think about it?

00:06:13.760 Is that a good strategy?

00:06:14.920 Will China come to the table? 0.85

00:06:16.080 Should U.S. lower the tariffs to go to the table?

00:06:18.680 What are your thoughts?

00:06:19.480 If you don't have thoughts, you don't have thoughts.

00:06:20.960 No, that's not what I said.

00:06:21.280 I'll give my thoughts on this.

00:06:22.220 I do have thoughts.

00:06:22.480 Go ahead.

00:06:22.620 Okay, so go ahead.

00:06:23.120 What are your thoughts on it?

00:06:24.920 There was multiple points here that he made.

00:06:26.900 Then make your – just give your feedback on all of them.

00:06:28.700 I will.

00:06:28.880 Okay, so, I mean, before you ask me what's my point, I wanted you to know what you think I should talk about.

00:06:32.960 But the point is I think China is going to not come to the table anytime soon.

00:06:39.920 Why? 1.00

00:06:40.200 Because they have no problem treating their people like absolute crap. 0.99

00:06:43.940 And they're preparing their people for winter. 0.99

00:06:45.860 They're basically saying Game of Thrones style, winter is coming.

00:06:48.920 We have no plans of negotiating with the U.S. anytime soon.

00:06:52.080 Why?

00:06:52.760 Because Trump is going to be out of office in the next four years.

00:06:56.260 Who knows if he's doing his 2028 song and dance.

00:06:59.000 Doubt it.

00:07:00.140 When does she's term up? 0.98

00:07:02.200 Never.

00:07:02.960 So, we need to be prepared in the United States for Xi to be here for a long time and for these Chinese tariffs to basically have to be dealt with now.

00:07:10.060 At the same time, I'm not defending Chinese tariffs.

00:07:13.360 China needs to be dealt with. 1.00

00:07:14.660 They're stealing everything, intellectual IP theft.

00:07:18.340 They're deflating their currency.

00:07:21.860 They need to be dealt with.

00:07:22.780 Everything that happened during COVID, I'm no fan of what's going on in China. 1.00

00:07:26.200 But we have four-year terms and they've got lifetime terms.

00:07:29.400 So, you know, there's something called made in America.

00:07:31.720 What percentage of products are made in America versus made around the world?

00:07:35.700 10% of products are apparently made in America versus 90% of source products come from around the world.

00:07:42.020 So, if we think we're just going to flip a switch and just everything's going to get made in America, real quickly, I doubt that. 0.73

00:07:48.940 China, 10 years ago, had a mantra.

00:07:51.280 You know this, PPD.

00:07:52.040 It was called what?

00:07:53.120 Made in China 2025.

00:07:55.520 What freaking year are we in?

00:07:57.120 2025.

00:07:57.560 China's been preparing for this trade war for over a decade.

00:08:04.100 So, is Trump right in taking on China?

00:08:08.260 Yes.

00:08:08.840 Do I think this is going to be an easy battle and China's just going to bow to the United States? 0.55

00:08:13.920 Highly doubt that.

00:08:15.600 That's my point.

00:08:16.400 Vinny.

00:08:16.600 I just, you know what it reminds me of?

00:08:18.160 You know what China reminds me of?

00:08:19.460 Remember Maximus in the end of Gladiator where Commodus, Joaquin Phoenix, stabs him, but he's out there and he's still fighting and you can't, you don't know that he's been stabbed and he's acting like everything's okay.

00:08:30.540 That's China right now. 0.98

00:08:31.600 Tom, you just named everything that's happening with them.

00:08:33.980 Everything's falling apart, but they're up there and they're acting tough.

00:08:36.460 I think, Adam, to go against that beast that you're talking about, that empire, we don't hold back.

00:08:43.260 You go 100% because at the end of the day, it's a trade war.

00:08:47.360 We're at war with these people and we don't let up on them.

00:08:50.180 If we're going to have that adjustment, Pat, that's what we have to do.

00:08:53.120 Tom.

00:08:53.560 Well, Adam, China has backed down like ethane.

00:08:57.580 Ethane, which is a petrochemical which leads to the production of plastic.

00:09:00.940 They dropped their 125% tariff and then when questioned by Reuters, they said the official declined the comment due to the sensitivity of the matter.

00:09:10.760 So why did they go from 125% tariff on ethane down to zero?

00:09:15.140 Because they had to.

00:09:16.640 It's a blink, but they won't talk about it.

00:09:18.800 And it was not announced publicly.

00:09:20.700 It happened over a weekend.

00:09:23.100 Gee, why would it happen over a weekend, Adam?

00:09:25.000 It's because they don't want the U.S. 0.94

00:09:26.640 They don't want CNBC to pick up on it.

00:09:28.680 So they're starting to blink in little ways.

00:09:30.440 Are they formidable?

00:09:31.580 Am I worried about things that they could do? 0.97

00:09:34.000 Damn right I am. 0.99

00:09:34.900 But they are blinking and their internal economy sucks. 0.99

00:09:38.780 Here's the thing that they both have a very strategic mindset, but a dark mindset. 0.97

00:09:46.580 Let me explain.

00:09:48.260 Imagine you have a leader's bulletin where you're playing a game of football, okay?

00:09:55.700 And one team, you know the score.

00:09:58.840 The other team, you don't know the score.

00:10:00.440 So it's like, okay, how bad are they doing?

00:10:04.180 We don't know.

00:10:05.860 One team's got 28 points.

00:10:07.180 Are they ahead?

00:10:08.080 No, we don't know.

00:10:08.720 We don't know what the other team is doing.

00:10:10.260 Can we know their score?

00:10:11.360 No.

00:10:11.840 Why?

00:10:12.580 Because it's not being reported.

00:10:14.780 What do you mean we can't know the score of where they're at?

00:10:17.160 We're just not reporting it.

00:10:19.280 Okay, so what's the benefit about being a private company versus a public company?

00:10:22.940 What happens when you're a publicly traded company?

00:10:25.240 Everybody knows everything that's going on with the company.

00:10:27.660 You have to report it.

00:10:28.360 You took public money.

00:10:30.120 So a publicly traded company, there's conference calls that you can jump on, shareholder conference

00:10:35.320 calls, and they'll say, here's what's going on.

00:10:37.460 The CEO will talk.

00:10:38.380 Maybe the CFO will talk.

00:10:39.440 And they'll tell you why their numbers are lower.

00:10:40.760 The expectation for Q2 and all this other.

00:10:43.520 America is a publicly traded company.

00:10:46.900 China is a private company, which means what data do we have of China?

00:10:51.020 Whatever they tell us.

00:10:52.340 If they don't tell us anything, what do we know about them?

00:10:54.800 We know nothing.

00:10:55.940 So China can say, how are things? 0.96

00:10:57.320 Oh, we're killing it.

00:10:59.180 Yeah, you're killing the job market.

00:11:02.580 Yeah, you're killing the job market for the youth.

00:11:05.660 But guess what?

00:11:06.500 Our social media companies are not there, so we can't get the videos.

00:11:09.080 Their social media companies are not here, so we don't know what they're reporting on.

00:11:13.360 You know, they can't communicate with us.

00:11:15.340 Their people can't communicate out to release anything that's going on with them, or else

00:11:18.640 they can get arrested.

00:11:20.120 Any of that data, and if Jack Ma used to be a guy that we used to watch every week, there

00:11:23.440 was something on Jack Ma.

00:11:24.600 Jack Ma just said this.

00:11:25.600 Jack Ma just said this.

00:11:26.820 When's the last time you heard anything from Jack Ma?

00:11:28.720 Nothing.

00:11:29.300 Since 2020.

00:11:30.200 See, that's the thing with China. 1.00

00:11:31.360 He's on vacation.

00:11:32.220 China will make sure, if God forbid you leak anything, like you know loose lips?

00:11:37.000 You know the mob side that loose lips sink ships? 0.98

00:11:40.000 In China, if you have loose lips, you go and disappear.

00:11:43.560 Oh, yeah.

00:11:44.040 You disappear.

00:11:44.820 Your wealth disappears.

00:11:46.000 Everything disappears.

00:11:48.100 So what's the point?

00:11:49.600 We have to believe whatever they tell us.

00:11:52.720 What's your unemployment rate?

00:11:53.920 Our unemployment rate's been 0.2%.

00:11:56.360 Everybody has a job.

00:11:58.320 They're all doing well.

00:11:59.740 Says who? 0.65

00:12:00.540 Says we.

00:12:01.520 Oh, who comes up with the report?

00:12:02.980 Who audited it?

00:12:03.720 Nobody.

00:12:04.220 Us, the Chinese government.

00:12:05.720 Oh, so we have to believe it.

00:12:06.760 Oh, our economy is on fire.

00:12:08.900 It's so good.

00:12:10.000 Yeah, yeah.

00:12:10.280 It's on fire, but the bad kind of fire, not the good kind of fire, right?

00:12:14.100 So that's the part that we don't know.

00:12:15.720 Next week is Armed Forces Day, and we're celebrating folks who were in the military.

00:12:21.900 I was in the Army.

00:12:23.280 Vinny here was in the Air Force.

00:12:25.180 And so we came out with these hats simply because a lot of people were asking about it.

00:12:28.600 And here's how it looks.

00:12:29.840 It's a Future Looks Bright hat with a sticker.

00:12:32.820 Listen to it.

00:12:33.700 I love that.

00:12:34.540 Awesome.

00:12:35.020 Oh, what?

00:12:35.400 So you see it says Future Looks Bright, but you get to put the USMC Future Looks Bright

00:12:40.900 on there.

00:12:41.500 We have it for Navy Future Looks Bright.

00:12:44.340 We have it for Army Green Future Looks Bright.

00:12:46.640 I love that.

00:12:47.060 They're all here.

00:12:48.140 And then we also have the, what do you call it, the shirts, Navy, Army, Air Force, what

00:12:54.400 do you call it, Armed Forces that are there, Rob?

00:12:56.560 What else do we have on there?

00:12:57.520 Outside of that, we also have the new Angry Patriot.

00:13:00.080 Vinny, show us what you got there.

00:13:01.040 So we have the Angry Patriot Bucket Act because we're in Florida, it's hot, the weather's

00:13:04.820 going to start changing.

00:13:05.880 Angry Patriot in the front, the Future Looks Bright in the back.

00:13:10.020 And if you get anything, if you get this or you get anything from the Angry Patriot collection,

00:13:14.320 you get a free Angry Patriot mug. 0.93

00:13:16.260 And this hat is ridiculous. 0.99

00:13:17.500 That's pretty sick, by the way. 0.99

00:13:18.460 I love it.

00:13:19.000 Put that thing on, Vinny.

00:13:19.780 Very sick.

00:13:20.320 Put that thing on, buddy.

00:13:21.240 And FYI, outside of that, you're going to get dog tags, vitamin dog tags that say, out

00:13:26.580 work, out strategize, out improve, and out last for every order you place.

00:13:32.100 But more importantly, we just want to say thank you to your service for everyone that

00:13:36.220 served.

00:13:36.520 I got a call from a guy yesterday telling me, he says, Pat, you know, I'm in, out of the

00:13:40.860 country in Europe.

00:13:42.120 I'm wearing my future looks bright hat.

00:13:44.240 I'm poolside.

00:13:45.760 And he says, one by one by one, everybody would look at me and they would say, hey,

00:13:49.440 I know who that is.

00:13:51.180 It's a community that's getting bigger and bigger.

00:13:52.920 We want millions of people.

00:13:54.440 It starts off with the first million.

00:13:55.940 We want a million people wearing the future looks bright gear.

00:13:58.820 If you're somebody that loves this brand and you're optimistic about the future, go

00:14:02.880 support this future looks bright.

00:14:04.000 And if you know somebody that's a vet who watches the podcast, watches Valuetainment,

00:14:08.540 get them this as a gift and send it to them.

00:14:10.300 They'll be very happy that you did that.

00:14:12.120 If you enjoyed this video, you want to watch more videos like this, click here.

00:14:15.020 And if you want to watch the entire podcast, click here.

Valuetainment - May 07, 2025

“China Blinked” - Trump's Tariff War Pressures Xi To CAVE As China's Economy TANKS

Episode Stats

Summary

Transcript