Trump announces 100% tariffs on China starting on Nov. 1st. China responds with a letter to the world warning that they are going to impose large-scale export controls on virtually every product they make and some not even made by them.
00:00:00.000Trump announces 100% tariffs, additional 100% tariff, on China beginning November 1st.
00:00:06.300And Rob, I think you've got two clips on this.
00:00:08.260One is the story about it, and the other one is China responding to it.
00:00:12.200So let me go through this with the story.
00:00:14.360So President Trump took on Truth Social, if you have the tweet, Friday, to announce that U.S. will impose an additional 100% tariff on imports from China beginning November.
00:00:23.920This announcement was made hours after a separate post from Trump in which he warned of possible new tariffs and suggested canceling a meeting with Chinese President Xi, claiming Beijing was planning sweeping exports controls on rare earth minerals.
00:00:37.840It's just been learned that China has taken an extraordinarily aggressive position on trade and sending an extremely hostile letter to the world stating that they were going to effectively on November 1st impose large-scale export controls on virtually every product they make and some not even made by them.
00:00:51.800This affects all countries without exception and was obviously a plan devised by them years ago.
00:00:56.780It is obviously unheard of international trade and a moral disgrace in dealing with other nations based on the fact that China has taken this unprecedented position and speaking only for the U.S.
00:01:07.240and not other nations who were similarly threatened start of November 1st, 2025 or sooner, depending on further actions by China.
00:01:15.500The United States will impose 100% tariff.
00:01:17.040And above these tariffs currently paying, November 1st, it is impossible to believe that China would have taken such an action, but they have.
00:02:42.080There's a couple of things that they're doing on chips, because what do they still want?
00:02:46.640China still wants to take over Taiwan.
00:02:49.120And Taiwan's got a bunch of chips, and it's chips that they want to have purview over and control over the manufacturing of.
00:02:57.040So recently, with all this, China's like, look, you're running around the world, and you're trying to do mineral deals with rare earth deals with Greenland.
00:03:07.180You're trying to put the rare earth deal, excuse me, into the deal with Ukraine, because the United States needs rare earth.
00:03:14.400Okay, first of all, we're going to put our thumb down on the button on these minerals and rarer things that people need to make turbines, you know, electric cars.
00:03:27.420I'm not crazy about the fact that now the U.S. government owns 10 percent of a lithium company, but it was all about making sure there's enough of these minerals and everything to go into it.
00:03:36.780China sees that and sees America slowly working around the table, getting a little more independence, and they get pissed.
00:03:44.940And last week, which was not really reported a lot, actually it wasn't talked about a lot in the shadow of everything else, but they went, and they went after Qualcomm and NVIDIA, because they know that Qualcomm and NVIDIA are going to run to the White House to get help.
00:03:59.740And now China's got this triangle of negotiations trying to put in place.
00:04:03.920Qualcomm bought a company called Autotox.
00:04:07.060NVIDIA bought a company called Mellanox.
00:04:09.960And now China's saying, hang on, you buying these companies, we're concerned about antitrust.
00:04:15.420We're concerned about too much market power.
00:04:32.040They're playing 3D chess on this, Pat.
00:04:34.380And they're trying to get a couple U.S. companies, Qualcomm and NVIDIA, to get upset and go to the White House and say, hey, we need some help here.
00:04:41.720And they're also trying to put pressure on things on the rare earth minerals.
00:05:08.400Yeah, well, on this, he's got his attention.
00:05:10.920In the midst of everything else, he's tweeting this on this day, which I think shows that it is a hot battle, and we've got to respond, and we've got to keep it up.
00:05:20.080I was surprised to see Trump tweeting about this this morning.
00:05:24.240Xi doesn't have the better of Trump in this, but it shows you this is an important hot war going on the other side.
00:05:31.380China targets NVIDIA, Qualcomm, and a crackdown on U.S. ship and ports.
00:05:34.640So he's going to get calls from his guys thinking, like, Mr. President, we really want to help out, and we really want to make that investment, but we've got to figure something out with China.
00:05:46.880And it's kind of like what happened with the California farmers.
00:05:49.740Remember when that happened with the California farmers where they're like, look, you know, these policies, you're getting us to lose some of the workers that we really need.
00:05:55.760And I think you have to find a way to invest, what, $17 billion to help some of the farmers out.
00:06:01.820What do you think about this exchange with U.S. and China, Adam?
00:12:33.740Let me tell you, here's my prediction.
00:12:35.220In the next four weeks, you're going to hear Trump send the most ridiculous tweet with a threat of something that's going to do because he knows it's going to annoy and upset Xi.
00:12:48.940And I don't know what it's going to be.
00:13:40.540If 75 million iPhones were being made in China, a lot of them that are now going to India, that's a lot of business you took away from them.
00:13:49.160So I think he's going to go and press, you know, put salt on the wound that hurts, and he's just going to go on like this.
00:14:15.840What I'm saying to you is you're talking about the great rage-baiting, you know, commander-in-chief is what he is, as the younger generation would say.
00:14:26.340I think that's what he's going to do because he's right now.
00:14:53.240Because 4th of July, he has to be on stage, given that stage speech, 250-year anniversary, with the most ridiculous, the UFC fight at the White House, World Cup here.