Tidbits, WTO, Colombia, China, Tariffs, FOB 4/7/25
- Wright Team
- 7 days ago
- 5 min read
Highlights
The European Commission will meet today to prepare a list of U.S. products to slap additional tariff fees in response to Trump's tariffs. Insiders say the list includes meat, cereals, wine, wood, clothing, chewing gum, dental floss, vacuum cleaners, and toilet paper. The Commission has threatened a 50% tariff on U.S. bourbon which prompted Trump to threaten a 200% counter-tariff on EU alcoholic drinks.
David Perdue is President Trump’s nominee for ambassador to China. He told lawmakers on Thursday that the American buyers could deal the Chinese economy a fatal blow by stopping the injection of money.
Perdue is a former Fortune 500 CEO and one-term senator for Georgia. He said in his confirmation hearing that it’s time for the United States to take a stand against Beijing’s unfair trade practices after decades of turning a blind eye. Perdue said he believes those days are over.
He said, “The Chinese economy is in trouble. Unemployment rates are at a record high, and foreign investors are pulling out. Official Chinese data show that net foreign direct investment, a major avenue for the country’s GDP, dropped by $168 billion over the past year.”
Want to read more?
Subscribe to wrightonthemarket.com to keep reading this exclusive post.
