A Storm of Tariffs is Brewing
Hmph. As Daenerys Stormborn of the House Targaryen First of Her Name Queen of Meereen Queen of the Andals and the Rhoynar and the First Men Khaleesi of the Great Grass Sea Breaker of Chains and Mother of Dragons I've seen my share of battles. But this 'trade war' between the United States and China? It sounds like a squabble over silk and spices compared to the Iron Throne. Apparently this Trump fellow slapped some rather 'ultra high' tariffs on China like some Dothraki horselord demanding tribute. 145 percent! The audacity!
A Beautiful Rebalancing? Or a Lannister Trap?
Now this Scott Bessent the 'Treasury Secretary,' speaks of a 'beautiful rebalancing,' whatever that means. Sounds like something Littlefinger would whisper in your ear before stabbing you in the back. He even name drops some 'Ray Dalio' who apparently thinks Trump's tariffs are a bigger threat than the Night King. Perhaps someone should remind Mr. Dalio that winter *is* still coming regardless of trade agreements.
The Wall Street Journal Whispers
Rumors from the Wall Street Journal suggest that Trump is considering lowering the tariffs – from 145% to something still high but less…dragon scorched earth ish. Is he finally realizing that you catch more flies with honey than with fire and blood? Or is this just a clever ruse to lull China into a false sense of security before unleashing another wave of economic fury? Only the Seven Kingdoms—err the 'market'—knows for sure.
World Bank Shenanigans!
Bessent is not happy with the World Bank lending money to rich countries like China saying it is “absurd”. Hmmm giving loans where they are not needed? This reminds me of the time the Iron Bank of Braavos kept giving loans to the Lannisters and we all know how that turned out. The World Bank should be careful that its mission does not go astray. Lending to China is absurd and it is siphoning off resources from higher priorities. It is taking away the resources to move the economy to be job rich.
Knocking the Institutions off Course
Bessent wants to enact key reforms to the International Monetary Fund. These institutions have value but have been knocked off course. Intentional policy choices have hollowed out America’s manufacturing sector and undermined their critical supply chains putting their security at risk economically and nationally. Bessent says that President Trump has taken strong action to address the negative impacts. It is not sustainable for other economies for the imbalances to persist.
China Must Graduate Up?
If China wants to be an important player then it must graduate up. They have had a rapid rise even if it has been at the expense of many Western markets. I am not sure what I make of this. As I have said previously 'I will take what is mine with fire and blood'. Perhaps I need to get my dragons involved…
Comments
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jackson3
We need to bring manufacturing back to America!
lasalite
This whole situation is a mess!
JStalin1953
Finally, some common sense in this administration!
welshlady79
This is all just political theater!
tomashley
China is manipulating the system!
teresataumau
The World Bank is corrupt!
0
Tariffs are hurting American consumers!