Latest / OneLegUpAlex Media / Trump’s Second Term Officially Picks Up Where It Left Off With China Prior To COVID- CHINA IS TAXED! 2-4-25

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Trump’s Second Term Officially Picks Up Where It Left Off With China Prior To COVID- CHINA IS TAXED! 2-4-25 · OneLegUpAlex Media

• 0:01
  Speaker 1: Here's your host, Alex Garrett. Well, I want to go
• 0:09
  Speaker 1: back five years ago when we were right here, right here,
• 0:16
  Speaker 1: and it was announced on January fifteenth, twenty twenty, the
• 0:21
  Speaker 1: United States and China signed a historic and enforceable agreement
• 0:25
  Speaker 1: on a Phase one trade deal. And today, on February fourth,
• 0:31
  Speaker 1: twenty twenty five, after what twenty twenty brought us a
• 0:37
  Speaker 1: horrible pandemic, which I do believe this trade deal had
• 0:42
  Speaker 1: and have played a role in, because China was not
• 0:47
  Speaker 1: going to, you know, abide, so they released a pandemic
• 0:50
  Speaker 1: on the world. In a where were we kind of moments,
• 1:01
  Speaker 1: tariffs are officially imposed on China right now on the
• 1:09
  Speaker 1: Wall Up Network. That's my breaking news today. I know
• 1:13
  Speaker 1: it's twelve thirteen in the morning, I know it's late,
• 1:16
  Speaker 1: but my goodness, I remember talking about this trade deal
• 1:21
  Speaker 1: back in twenty twenty. The United States has agreed to
• 1:29
  Speaker 1: modify it Section three oh one Tariff Actions. This was
• 1:32
  Speaker 1: back in twenty twenty. Now today, in a day where
• 1:37
  Speaker 1: we saw Canada and Mexico have tariffs paused because they
• 1:44
  Speaker 1: made deals with Trump. See Trump's a deal maker, like
• 1:49
  Speaker 1: him or not, he brings these countries to the table.
• 1:54
  Speaker 1: And as all the reports are coming in, now Trump
• 1:59
  Speaker 1: rats a tariffs on China. It takes effect in what
• 2:03
  Speaker 1: I'm calling a where were we kind of moment, because
• 2:11
  Speaker 1: where we were five years ago was this exact thing
• 2:15
  Speaker 1: was about to happen, and then the pandemic wiped all
• 2:18
  Speaker 1: that talk out. Now, pandemic cleared, hysteria died down. President
• 2:31
  Speaker 1: Trump is imposing this tariff, and what I believe is
• 2:36
  Speaker 1: a continuation of what was supposed to happen five years ago.
• 2:44
  Speaker 1: So let's not lose fact of this date February fourth,
• 2:48
  Speaker 1: twenty twenty five, the day Trump officially officially resumes what
• 2:57
  Speaker 1: he was going to do in twenty twenty before that
• 3:01
  Speaker 1: awful pandemic happened. I know people are excited because I
• 3:07
  Speaker 1: had Bernie Williams on and I do love talking sports,
• 3:10
  Speaker 1: but I also love talking about this because this is
• 3:13
  Speaker 1: history we're talking about, and this tariff on products made
• 3:25
  Speaker 1: in China might really allow us to truly make USA goods.
• 3:35
  Speaker 1: A lot of that first term, remember he was all
• 3:37
  Speaker 1: about how products were just made in China. Well, now
• 3:44
  Speaker 1: he's finally doing something about it. He's finally able to
• 3:46
  Speaker 1: do something about it. And so everybody's looking over here.
• 3:54
  Speaker 1: I would have him in Mexico and Canada coming to
• 3:58
  Speaker 1: the table and making a deal to delay the tariffs.
• 4:02
  Speaker 1: On the other side, Trump's actually imposed a tariff. He
• 4:10
  Speaker 1: wasn't able to do that in his first term on China, Railly.
• 4:17
  Speaker 1: And now we have to see how this plays out
• 4:20
  Speaker 1: in the global scheme of things, in the national scheme
• 4:24
  Speaker 1: of things. And boy, oh boy, this is a promise
• 4:35
  Speaker 1: he wanted to keep. He wanted to keep, but because
• 4:45
  Speaker 1: a pandemic got in the way and truly wrecked everything.
• 4:58
  Speaker 1: And we will see how the markets react to this.
• 5:10
  Speaker 1: And isn't it interesting while Canada and Mexico came to
• 5:16
  Speaker 1: the table, she did not. I would even say Venezuela.
• 5:24
  Speaker 1: And even though Salvador has come to the table before China,
• 5:39
  Speaker 1: And so what does that mean? Is there something we
• 5:44
  Speaker 1: should be worried about with the Chinese not coming to
• 5:50
  Speaker 1: the table. I want to look this up before I
• 5:57
  Speaker 1: hang up the line tonight. When the last time we
• 6:06
  Speaker 1: taxed China was because it doesn't seem like we have,
• 6:17
  Speaker 1: but the Peterson Institute for International Economics say the United
• 6:21
  Speaker 1: States collected terroriff revenue on Chinese imports and the late
• 6:27
  Speaker 1: nineteenth and early twentieth centuries. In the past three decades,
• 6:47
  Speaker 1: other organizations say that they are not direct taxed on
• 6:50
  Speaker 1: US exports. They raised the after tax price of US
• 6:54
  Speaker 1: goods on in foreign jurisdictions. And everybody says, oh my god,
• 7:13
  Speaker 1: it's a global trade war. But I believe this is
• 7:19
  Speaker 1: something he wanted to do. In nineteen eighty three there
• 7:30
  Speaker 1: was an income tax treaty between the two countries. I mean,
• 7:46
  Speaker 1: the news is out there, but I think it's fascinating
• 8:02
  Speaker 1: that the other countries have come to the table except
• 8:06
  Speaker 1: for China. And I think BBC says it right here.
• 8:13
  Speaker 1: US President Donald Trump's plan ten percent tariffs on China
• 8:17
  Speaker 1: are set to come into effect after midnight in DC.
• 8:22
  Speaker 1: All of a sudden, China is announcing retaliatory tariffs against
• 8:26
  Speaker 1: the US, hitting the US imports of large engine cars,
• 8:31
  Speaker 1: pickup trucks, coal, liquefied natural gas, crude oil, and agricultural machinery.
• 8:44
  Speaker 1: China's Xizhiping and Trump are actually expected to speak this week,
• 8:48
  Speaker 1: a current to ABC. Beijing has previously called for talks
• 8:52
  Speaker 1: to negotiate a deal. US presidents are using tariffs not
• 9:10
  Speaker 1: just for economic excisions. He wants to end the scourge
• 9:13
  Speaker 1: of fentodyl and this is why he's taxing China because
• 9:22
  Speaker 1: he knows that there is a drug that came from
• 9:25
  Speaker 1: China and Mexican UH games are supplying it. And this
• 9:31
  Speaker 1: is fact. So we're gonna say what BBC reporting is
• 9:40
  Speaker 1: they are on the ground with this and Peter Hoskins saying, uh,
• 9:49
  Speaker 1: China has already announced retaliatory tariffs because they're dealing with
• 9:54
  Speaker 1: slow economic growth and become increasingly reliant on these exports.
• 10:13
  Speaker 1: So this is a where were we kind of moment.
• 10:19
  Speaker 1: And now the Donald Trump second term has begun and
• 10:25
  Speaker 1: picked up where it left off on January fifteenth, twenty twenty.
• 10:31
  Speaker 1: That's all for now. I want to look up on
• 10:32
  Speaker 1: news tariffs in effect against China. It actually happened, and
• 10:43
  Speaker 1: we as Americans should actually be maybe a little cautious,
• 10:46
  Speaker 1: but also a little excited that we're holding China accountable
• 10:51
  Speaker 1: with these tariffs. Let's just pray a war on taxation
• 11:04
  Speaker 1: is the only thing that comes out of us, the
• 11:08
  Speaker 1: only thing. Have a great rest of your morning, and
• 11:14
  Speaker 1: we'll be following this for you. I'm wanna look up
• 11:16
  Speaker 1: on news with Alex Garrett