＂This Scares The CRAP Out Of China＂ – JD Vance & Modi's U.S. - India Trade Deal THREATENS China
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Summary
Trade deal between the United States and India is a big deal. We talk about what it means and how it could impact the economy and the stock market. We also talk about the impact of the trade deal and how that could affect the Chinese economy.
Transcript
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What the president and the administration is doing, which is the right thing to do,
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is they're saying, look, you can take your time all you want.
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We're going to the one country that you probably don't want to see be the next China, which is India.
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And here's what just happened. This is how long ago, Rob? Was it this morning?
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As many of you are aware, both of our governments are hard at work on a trade agreement built on shared priorities,
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like creating new jobs, building durable supply chains and achieving prosperity for our workers.
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In our meeting yesterday, Prime Minister Modi and I made very good progress on all of those points.
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And we are especially excited to formally announce that America and India have officially finalized the terms of reference for the trade negotiation.
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I believe this is a vital step toward realizing President Trump's and Prime Minister Modi's vision,
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because it sets a roadmap toward a final deal between our nations.
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You can pause it right there. Tom, how important is this?
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This is really important, because I think what he's saying when he says the points of reference,
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It's not a contract, but it's a letter of intent.
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And inside the letter of intent, it says, OK, these are the five things that we're going to work through.
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Because, you know, they get together, they stand in front of the flags, and they say,
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And you know they do that, and it's kind of just a handshake and back and forth.
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This seemed, and you heard the people applauding, very specific.
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So to me, it's like an LOI that says, hey, guys, we're around first base, and we know
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exactly what we're going to be talking about, and we know exactly where we're going to go.
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And when trade deals enter negotiation phases, usually what they do is they mutually pull
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Like when two countries are at war, they say, we're going to have a ceasefire, and our guys
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and your guys are going to meet in Geneva, Switzerland, and we're going to talk about it.
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So likewise, they usually turn down the heat on it.
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I think the market is probably going to like this today because the poor stock market is
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So I asked the question, how is this impacting?
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Rob, can you go to Chad GPD, type in, how are the tariffs impacting Chinese manufacturing?
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I saw a tweet by Mario Nafalma, I'm looking for right now, on how, we're talking about
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So it says, Zhejiang, province factory closure, okay?
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Over 50% of export-oriented factories in Zhejiang, a major manufacturing hub, are expected to
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halt production temporarily following the imposition of 145% U.S. tariffs.
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Many companies are extending their labor holidays indefinitely due to a sharp decline in U.S.
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Chinese plastic plants face potential shutdowns as tariffs have disrupted the imports.
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U.S. ethane, a critical raw material for plastic production.
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The increased costs and supply chain disruptions have made operations unsustainable.
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David's bridal reduced China's based production from over 50% to 30%, shifting operations to
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So companies are moving away from China to places like Sri Lanka, Vietnam, and India.
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And then Stanley's Black & Decker decreased reliance on China manufacturing from 40% to 15% over
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the past seven years, planning future reductions and reallocating productions to other parts
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Now, keep in mind, we can talk like this and be like, oh, my God, China's struggling.
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Because in China, their media is saying U.S. is getting destroyed.
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The Chinese media is saying U.S. economy is in shambles.
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They don't know how they're going to handle it.
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The same thing Americans are saying is the same thing the Chinese are saying about how
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Well, and I'll tell you, the India thing, we talk about sentiment.
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There's a lot of things that happen in the market.
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And you've got to believe that hearing about India is part of this because it calms the
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The market just wants to know everything's going to be OK and things are going to come
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And I think that, you know, the volatility that's out there right now, we have the volatility
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Yeah, the volatility of words that go back and forth that causes the market to get a
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And then, you know, people are making research.
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And Wall Street Journal today, as Adam pointed out, saying, hey, this could be the worst April
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That's a fair headline based on historical facts.
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But trade deals, you know, are are things that now go the other way and will calm calm the
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But we need we need more days like this morning.
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Well, it's very hard to compete with China just because they cheat.
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You know, China is the world's warehouse that makes everything.
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And we've been shipping away manufacturing jobs for a few decades now.
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You know, how many times you look at any good you buy and it says made in China, made in
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You even see videos of like people trying to call Trump out for things in Trump MAGA world
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I don't know what the validity of that, but they're like this factory of a billion plus
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And it's very hard for smaller countries or even America to compete with these people
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They're they're cutting out competitors, undercutting competition there.
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The the CCP is heavily subsidizing many of these industries, just like Trump did with some
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They don't give a shit if kids are working and chopping off fingers.
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All they care about is keeping the CCP in power, which leads me to the final point.
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We covered this on the town hall, the live podcast we did the other day where you have
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Xi right now, where China was alienated just a short six, 12 months ago.
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Like this charm offensive going around the world.
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Vinny said he wouldn't eat Chinese food for the next six to 12 months.
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So the guy on whatever, there was like one of their foreign ministers, whatever it was
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They're kind of playing with a little house money right now.
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The bottom line is it's going to be very hard to decouple from China.
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It's not like we're just going to cut off all our manufacturing.
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We have very cheap labor and cheap goods that came from China.
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I don't think these jobs are necessarily coming back to America.
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So Trump needs to navigate this relationship with caution.
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But Americans, and this is the real question, are Americans willing to go through some pain
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Kids labor, like slave labor camps for kids to have cheaper phones.
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If you're really about people and you're really about America and you care about the
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children, then we need to break off and it's going to hurt.
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And I'm just, I'm one of those Americans that's America first.
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If I have to pay a little bit more and not to deal with these, you know, what's, then so
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what I say all the time is I believe the children are the future.
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By the way, when you're saying that, when you're saying that, okay, and we can say that,
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but there's a lot of people that can't, don't have that luxury.
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There's a lot of people that are four weeks away from shutting down their businesses.
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There's a lot of people that are two weeks away, six weeks away.
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There's a lot of scared people in America today.
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Here's a crazy stat for you to be thinking about.
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In 19, I want to say 40, 82% of all jobs in America were created by small business owners.
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So the number of jobs being created by small business owners is getting less and less.
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And the more the jobs are being created by who?
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So small business owners, companies with less than 100 employees.
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It used to be 82% that would employ the American people, right?
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But now we're relying on these behemoth companies.
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You need the small business owners to stick around.
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You need the small business owners to have a fighting chance.
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You need the small business owners that risk their savings, their 401k, their,
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they take some crazy risk to get a business going just because they have a small dream
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So we have to understand that it is very valid the pain that they're going through.
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And if you're a business owner out there, I feel your pain that you're going through.
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There's nothing like it when you're going through it.
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Anxiety at night, fighting with your wife and kids, fighting with your husband,
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trying to take your kids out of private school, can't pay $1,500, you're back three months
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because you're trying to put the money in the business.
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However, I'm still optimistic that they're going to accelerate this process
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And I think if we are able to get India to scare the crap out of China a little bit
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I had no idea what was going to happen with the Yetis.
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When our team said, Pat, they're not going to last.
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Next thing you know, we were swamped by messages of, Pat, can we get additional Yetis to do
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collaboration with Value Tim and the Future Looks Bright?
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Rob, if you want to play this clip, we got different ones.
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These are based on what many of you guys asked.
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This is the Future Looks Bright Yeti, whether it's a pink one, whether it's the red one,
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These seems to be, this one seems to be, it's sick.
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And on top of this, Rob, if you can also go to the website, there are, I think it's
00:11:34.860
We're like, let's just see if there's a market for it.
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I guarantee you that they'll be gone before we're out of the episode.
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I said, let's get 10 and let's see how it does.
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Be the first to get it because these things will go very quickly.
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Again, it is limited supply and they're absolutely sick.
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When you go to work and you have this vitamin logo and the Future Looks Bright, it looks insane.
00:12:00.800
Again, go to vtmerch.com, place your order with the Yeti collaboration.
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00:12:07.760
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