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Monday, July 07, 2025

7: Trump

Trump Issues Threat to Russia, China, Other BRICS Countries: 'There Will Be No Exceptions' BRICS is short for Brazil, Russia, India, China, and South Africa, though the group now also includes Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates. ....... "The statement said that unilateral tariffs reduced global trade, disrupted supply chains and introduced uncertainty into international commerce" ....... As of July 7, only two preliminary deals had been announced -- one with Britain, the other with Vietnam. ........ After BRICS began mulling the idea of replacing the U.S. dollar as a reserve currency, he threatened to impose a 100 percent tariff on them. ......... A month before he made this threat, BRICS touted a report prepared by Russia that had called for the dollar's role in global finance to be "reassessed." ....... BRICS's latest statement issued Sunday also condemned America's recent military strikes on Iran's nuclear facilities, calling them "a violation of international law." ........ "We condemn the military strikes against the Islamic Republic of Iran since June 13, 2025, which constitute a violation of international law and the Charter of the United Nations, and express grave concern over the subsequent escalation of the security situation in the Middle East," the statement read...... Surprisingly, two top BRICS leaders skipped Sunday's summit, including Iranian President Masoud Pezeshkian and Egyptian President Abdel-Fattah el-Sissi............ Trump remains insistent that a favorable trade deal with the United States is still the best option for any country -- BRICS or not -- to avoid crippling tariff rates.

Trump Threatens Extra Tariffs on BRICS-Aligned Countries President Trump said nations that support the group’s “Anti-American policies” would face an additional 10 percent tariff. He did not elaborate. ......... The statement said that unilateral tariffs reduced global trade, disrupted supply chains and introduced uncertainty into international commerce. And it condemned military strikes on Iran last month, calling them “a violation of international law.” The United States joined Israel in attacking Iran in what both countries called a campaign aimed at Tehran’s nuclear facilities. ........ Besides the original members, it now includes Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. ....... In June, he warned that if the countries replaced the U.S. dollar as a reserve currency, he would impose a 100 percent tariff. He had first made the threat after winning election last November. The month before that, a report prepared by Russia for a BRICS summit had called for the dollar’s central role in global finance to be “reassessed.”

Trump’s tariffs haven’t blown up the global economy. It’s worse than that If you happen to be the prime minister or president of a mid-ranking trading nation, it is the kind of letter you definitely don’t want to receive: a sternly-worded and eccentrically-capitalised missive from the White House, ticking you off for all your trade misdemeanours, and threatening a steep tariff on all your exports into the United States should you fail to reach terms. ......... The leaders of Japan, South Korea, South Africa, and a handful of others were not exactly told to write out a hundred times “I must not sell so many automobiles/semiconductors/bright pink Barbie accessories (delete as appropriate) to Americans”. But that was the general gist of the letters President Trump has now sent out to some of the US’s main trading partners. .......... Japan and South Korea were the first in line for their punishment. President Trump said he intends to impose a 25 per cent tariff on both of them, together with stiff warnings that it would be increased if they tried to retaliate in any significant way. South Africa was whacked with 30 per cent. Other nations will be keeping an anxious eye on Trump’s Truth Social account to see what it is in store for them. ........... The tariffs so far have not crashed the global trading system, plunged the US into a depression, or emptied the shelves at Target and Wal-Mart. Wall Street is hitting record highs, and America is creating jobs again........... they create uncertainty. The stock market has come to bank on the TACO trade. It stood for Trump Always Chickens Out. The assumption is that he would never follow through with the tariffs. It now looks as if that may need to be switched to the TOD – for Trump Occasionally Delivers – trade. Yes, Trump’s letters may merely be his latest attempt to browbeat other countries into agreeing new trading deals. But the constant threat of random tariffs hangs over global corporations, slowing down decisions, deterring investment, and making it harder to commit to plans. It is all bad for growth. ......... The latest round of levies won’t cause a depression. But they are still a slow motion car crash – if not a full blown pile up on the freeway.

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Xi Jinping may be losing control of China’s military labelling General He’s treatment “the most dramatic act of [Xi’s] military anti-corruption campaign and first firing of a general in that role in six decades”. ....... Others have suggested that Xi has become a Stalin-like paranoid who sees enemies everywhere and so churns the ranks of senior officers. ........... “Sometimes the simplest explanations are the most credible. The simplest explanation is that Xi’s enemies – not Xi himself – removed Xi’s loyalists. .......... beginning July 9 of last year PLA Daily, the Chinese military’s main propaganda organ, ran a series of articles praising “collective leadership,” a clear criticism of Xi’s demand for complete obedience. ........ These articles – apparently written by those aligned with the number one-ranked uniformed officer, Central Military Commission Vice Chairman General Zhang Youxia – are unlikely to have appeared if Xi were in complete control of the military. ....... There is also evidence that Xi has lost influence among civilians. His skipping of the just-completed Brics summit in Rio de Janeiro – the first such gathering he has missed – is a clear signal that he might no longer be in control. Perhaps he is no longer permitted to travel outside China. Some point to the Politburo’s establishment of new coordination “regulations,” announced by Xi himself on June 30, as marking a formal limitation on his power. .......... A weak Xi and a Communist Party in turmoil are dangerous, and probably far more dangerous than a strong leader and a stable ruling group.

Elon Musk Is Running Out of Road in China For a while, Tesla was the hottest car on Chinese roads, and Musk was the toast of Beijing. Government officials showered the company with incentives, part of a concerted strategy to turbocharge the Chinese EV industry by injecting Tesla know-how into the country and spurring competition. Tesla’s sales took off. ......... Chinese consumers say Teslas increasingly feel tired and out of touch with local tastes. Top China-designed EVs nowadays come with features that aren’t normally found in Teslas, such as multiple big screens to watch films and play games, refrigerators to keep drinks cold and in-car cameras for selfies. BYD, which makes both EVs and batteries; and battery giant Contemporary Amperex Technology, or CATL, recently said they each had developed new technologies that allow users to charge cars in just five minutes. ...... Tesla’s China staff have voiced concerns to headquarters about the company’s aging products, but their warnings often drew sluggish responses, China-based employees said. The frustrations have built as Chinese salespeople feel more pressure to hit targets, without the sexiest cars to sell. ........ the public breakup between Musk and Trump is limiting Musk’s value to Beijing. In January, Chinese Vice President Han Zheng met Musk in Washington and told Musk that Beijing hoped he could play a “constructive role” in U.S.-China relations ............ And because of the Musk-Trump feud, Beijing no longer views the Tesla chief executive as a geopolitical asset and will shy away from publicly courting him ......... American companies have a long history of thriving temporarily in China before falling behind, once local competitors scale up and government officials tilt the playing field in favor of domestic champions. ........ Apple was China’s No. 1 smartphone maker in 2023, but now ranks third behind Huawei and another Chinese brand, which have popular features at lower prices. Apple’s slide has been compounded by Chinese restrictions on the use of its devices by government officials and stimulus policies that favor Chinese domestic manufacturers. ....... Musk likely knows there is a shelf life to many global companies operating in China, and is looking at investments in places such as India in case China becomes more difficult. ........... China started limiting use of Tesla cars by government and military staff in 2021, citing concerns that data the cars gather could lead to national-security leaks, though some areas have eased the restrictions after Tesla built a local data center to address the concerns. ........

“Teslas are almost like iPhones now. They’re getting uninspired and stale, and don’t have revolutionary features anymore.”

........... As a Plan B, Tesla considered expanding its FSD training inside China. To do so, however, its China operations need access to the most advanced semiconductors, which have been blocked by U.S. export controls. After nearly nine months of back-and-forth, talks hit a dead end. .......... Tesla’s struggles in China today contrast with the prepandemic years, when Chinese leaders appeared willing to do anything to court Musk. Their hope was that Tesla’s expansion in China would propel underachieving local automakers and help build out the country’s EV market. Chinese officials likened it to lobbing a predatory catfish into a pond full of sluggish fish. ...........

“He made the same mistake that every foreign automaker made—to underestimate China’s ability to out-innovate you.” ...... A big risk for Musk now is that the same pattern will play out in other businesses Tesla is banking on for future growth.

........ Now, China has its own batch of robotic startups, such as Unitree and Agibot, gearing up to compete with American companies. As Chinese suppliers work with Tesla, it could speed up that process. ........ “Once you secure contracts with Tesla, domestic robotics companies will be much more willing to collaborate with you,” said Chen Feng, a marketing manager at an Optimus supplier. “Tesla can play catfish again.” ........ During a recent call with analysts, Musk said he believed his Optimus was No. 1 in the sector. But he worried China would eventually dominate the field.

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