Donald Trump has announced a 90-day pause -- with the single exception of China -- on new tariffs that were to take effect today.
Nobody knows where the trade war will end.
Before Trump hit the pause button, the E.U. had approved counter-tariffs against the U.S., and China was refusing to blink, announcing plans to raise tariffs on American imports to 84%.
China had been hit with an eye-popping 104% tariff by Washington before Trump again raised the rate to 125%.
Also hitting a nerve in Beijing were remarks from Vice President JD Vance, who referred to “Chinese peasants” in an interview defending U.S. policy.
The Chinese Foreign Ministry called the comments "ignorant" and "disrespectful."
So the trade war and war of words between the world's two biggest economies, plus Trump's across-the-board crackdown on U.S. institutions, are raising the alarm in Beijing.
Li Yuan covers China and its foreign affairs for The New York Times. Li joined the program from New York.
A century or so ago, an
Associated Press editor named Walter Phillips came up with POTUS and
SCOTUS as a shorthand way to break news faster via telegraph.
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It’s hard to resist the temptation to doomscroll these days, and Speaker Mike Johnson (R-LA) proved he was no exception when a reporter caught him in the act during President Donald Trump’s speech at a recent fundraising dinner.
On Tuesday evening, Trump gave the keynote address at the annual
fundraiser for the National Republican Congressional Committee (NRCC) in
Washington, D.C.
It was yet another rough day for the markets following the president’s announcement last week of sweeping new tariffs on virtually all imports.
In Trump’s remarks, he touted his tariffs, claimed other countries were “calling us up” and “kissing my ass,” and went on a riff about fictional cannibal Hannibal Lecter.
During the speech, Johnson was spotted by NOTUS reporter Jasmine Wright checking his phone and scrolling through the Drudge Report.
At the time, the site’s top headline was about the stock market crash.
Mike Johnson reading The Drudge Report at 8:35 PM Eastern, while
President Trump was speaking a few yards away. (Jasmine Wright/NOTUS)
Jasmine Wright/NOTUS
The NOTUS report
about the fundraiser noted that Trump mocked the idea that Johnson and
other congressional Republicans would step in to block his tariffs:
At a fundraiser for the NRCC last night, Donald Trump wisecracked about House Republicans feeling angsty about his tariff plans.
“I just saw it today, a couple of your congressmen, sir, ‘I think we
should get involved in the negotiation of the tariffs,’” he said,
pointing at Speaker Mike Johnson, who was sitting at a table near the
stage.
“Oh, that’s what I need, I need some guy telling me how to
negotiate. Ay-yi-yi.”
As for right now, the economic reality isn’t looking so good. While Trump was talking, Johnson was looking at his phone.
Our eagle-eyed reporter in the press area above the crowd took this snap, showing Johnson reading Drudge.
The blaring red headline? “Stocks Continue Plunge.”
Ursula von der Leyen has called China and asked for their help regarding Donald Trump’s trade war.
This call comes at a time when the economic situation around the world is very much uncertain.
The EU hopes to host a summit in July with the Chinese.
Oleksandr Syrskyi has stated that the Russian Spring Offensive is underway, developing in multiple directions.
Zelensky has once again asked Ukraine’s partners to send air defence systems.
The Commission almost hid the news of the July summit timing, mentioning
it only at the bottom of a read-out of the Brussels-Beijing phone call.
| Kevin Frayer/