At age 22 when Barack Obama was president I took a job covering trade policy because it was my way in to a national news organization, and guys I did not expect that experience to remain so relevant today
Peter Navarro, Trump's trade adviser and chief cheerleader of his China policy, has apparently been quoting staunch China hawk "Ron Vara" in his books for years. But:
1. Ron Vara is an anagram of Navarro.
2. Ron Vara doesn't exist.
@tebartl digs in:
VANCE: "Our view has been very clear that we don't want a regime change."
HEGSETH: "This mission was not and has not been about regime change."
RUBIO: Regime change is "certainly not the goal of what we're working on here."
TRUMP:
TL;DR: The new U.S. tariff rate against our two largest trading partners is either 10%, 25% or 35%, and so far no one I've reached out to at the White House is able to tell me which.
Tariffs still in place:
—125% on Chinese imports
—25% on steel, aluminum, autos, and non-USMCA goods from Can/Mex
—10% on nearly all other imports
Tariffs coming:
—On copper, lumber, semiconductor & pharma imports
—And maybe on other countries, depending how the next 90 days go
White House @PressSec announces that as part of its accessibility and inclusion efforts, every White House briefing will now have a sign language interpreter. Today's joins virtually:
NEW for @CNBC: 88 current & former business leaders endorse @KamalaHarris, in a broad show of support from the biz world.
List includes current CEOs of Yelp, Box, Ripple; former CEOs of Pepsi, Lyft, Ford, Starbucks; James Murdoch; Magic Johnson & more:
A former Trump aide to @jonathanvswan: There’s little hope in trying to convince the president that China does not, in fact, pay the tariffs, because Trump’s belief in them is “like theology.” bit.ly/2VpEUfc
The Senate just voted 95-4 to confirm Cecilia Rouse to lead the Council of Economic Advisers, making her the first Black person, and only the fourth woman, to hold that role.
Just broke on CNBC: A WH official confirms to me the new tariff against China this term now totals **145%**, not 125% as the President said yesterday.
The EO spells out the “reciprocal” rate jumped from 84% to 125% overnight. Combined with the 20% fentanyl tariff, we’re at 145%
New: The Biden transition team is vetting a handful of Republicans for possible Cabinet slots in a potential administration.
They’re not making any personnel decisions pre-election. But it’s a priority to have GOP options to consider.
W/ @AliceOllstein
2 things on this Trump tariff threat:
-He’ll have to declare economic emergency to impose these on Day 1, which will all but certainly be challenged in court
-This will upend the USMCA deal with Canada and Mexico—the trade pact he successfully renegotiated in his first term