•   Trump tariffs are the reverse of decades of ‘exfiltration’ of American wealth. Just as there was a shift when the value of the Wall Street economy surpassed the value of the U.S. Main Street economy, 
  •  

Source: theconservativetreehouse.com

  • President Donald Trump said that his tariffs strategy, aimed at boosting U.S. industry by taxing foreign products or forcing other nations to lower their trade barriers, is not intended to bring low-skill work such as garment manufacturing to America.
  • “We’re not looking to make sneakers and T-shirts. We want to make military equipment. We want to make big things. We want to make, do the AI thing,” Trump said.

Source:  worldtribune.com

Trump Announces Tariffs For South Africa, Laos, Myanmar, Malaysia, Kazakstan

  • The letters closely follow those sent out earlier in the day to Japan and South Korea, whose products will be hit by a 25 percent tariff rate beginning August 1.
  • Trump told Myanmar and Laos that they will face 40 percent tariffs on their exports, slightly lower than the rates announced at the Trump administration’s April 2nd Liberation Day event. In April, Trump said Myanmar would face a 44 percent tariff and Laos a 48 percent tariff.
  • South Africa will face 30 percent tariffs, the same rate announced on Liberation Day.
  • Kazakhstan and Malaysia will both face 25 percent rates, Trump said. Kazakhstan was looking at a 27 percent tariff on Liberation Day and Malaysia was set to be hit with a 24 percent tariff.
  • The administration appears to be fixing tariff rates in five percentage point steps, rounding up or down from the Liberation Day tariffs.