The Tarriff Hype.
- Thread starter petros
- Start date
China says the US has "severely violated" their trade truce and will take strong measures to defend its interests.
Stocks waver after Trump accuses China of violating Geneva trade agreement — NBC News
"So much for being Mr. NICE GUY!" the president wrote on Truth Social.apple.news
China's Ministry of Commerce said Washington has "seriously undermined" the agreement reached during talks in Geneva last month, when both countries lowered tariffs on goods imported from each other.
The spokesperson added that US actions have also severely violated the consensus reached during a phone call in January between China's leader Xi Jinping and President Donald Trump.
The comments come after comments by Trump on Friday that China had "totally violated its agreement with us".
China says US has 'severely violated' tariffs truce — BBC News
The comments come after Trump said on Friday that China had "totally violated its agreement with us".
Premiums for consumers buying aluminium on the physical market in the United States soared on Monday after U.S. President Donald Trump said he planned to increase tariffs on imported steel and aluminium to 50% from 25%.
The U.S. is heavily reliant on aluminium imports. About half of all aluminium used in the country for transport, packaging and construction is delivered from elsewhere, with the vast majority coming from Canada. The new tariffs are due to take effect on June 4.
Buyers on the physical market usually pay the London Metal Exchange (LME) benchmark aluminium price plus a premium covering taxes, transport and handling costs.
The U.S. Midwest duty-paid aluminium premium reached $0.58 per lb, or $1,279 a metric ton, on Monday. That was a 54% jump from Friday and 164% growth since the start of 2025.
Part of Monday's growth was amplified by June 2 being the first trading day of the new month, when regional premiums often make a strong move.
Goldman Sachs said the premium would need to rise to between $0.68 and $0.70 per lb to fully reflect the 50% import tariff. LME benchmark aluminium was last up 0.2% at $2,448.5 a ton.
Aluminium premium for US buyers soars after Trump doubles tariffs — Reuters
Premiums for consumers buying aluminium on the physical market in the United States soared on Monday after U.S. President Donald Trump said he planned to increase tariffs on imported steel and aluminium to 50% from 25%.
China is collapsing and about to lose O&G from Iran. Russia is out. Venezuela was never in and with MBS and OPEC picking sides all China can do is shit BRICS which has crapped out.China says the US has "severely violated" their trade truce and will take strong measures to defend its interests.
China's Ministry of Commerce said Washington has "seriously undermined" the agreement reached during talks in Geneva last month, when both countries lowered tariffs on goods imported from each other.
The spokesperson added that US actions have also severely violated the consensus reached during a phone call in January between China's leader Xi Jinping and President Donald Trump.
The comments come after comments by Trump on Friday that China had "totally violated its agreement with us".
Meanwhile two top White House officials suggested on Sunday that Trump and Xi could hold talks soon.
China says US has 'severely violated' tariffs truce — BBC News
The comments come after Trump said on Friday that China had "totally violated its agreement with us".
View attachment 29363
Premiums for consumers buying aluminium on the physical market in the United States soared on Monday after U.S. President Donald Trump said he planned to increase tariffs on imported steel and aluminium to 50% from 25%.
The U.S. is heavily reliant on aluminium imports. About half of all aluminium used in the country for transport, packaging and construction is delivered from elsewhere, with the vast majority coming from Canada. The new tariffs are due to take effect on June 4.
Buyers on the physical market usually pay the London Metal Exchange (LME) benchmark aluminium price plus a premium covering taxes, transport and handling costs.
The U.S. Midwest duty-paid aluminium premium reached $0.58 per lb, or $1,279 a metric ton, on Monday. That was a 54% jump from Friday and 164% growth since the start of 2025.
Part of Monday's growth was amplified by June 2 being the first trading day of the new month, when regional premiums often make a strong move.
Goldman Sachs said the premium would need to rise to between $0.68 and $0.70 per lb to fully reflect the 50% import tariff. LME benchmark aluminium was last up 0.2% at $2,448.5 a ton.
Aluminium premium for US buyers soars after Trump doubles tariffs — Reuters
Premiums for consumers buying aluminium on the physical market in the United States soared on Monday after U.S. President Donald Trump said he planned to increase tariffs on imported steel and aluminium to 50% from 25%.
Xi has "disappeared" all while the working class in China has begun to rise. They found their poster boy. It was coal miner in the Donbass that brought down the Soviet Union. It'll be factory workers in China who bring down the CCP.
We'll see what G7 (NATO) has up their sleeves in a couple weeks.
Well, sounds like China found more gold.
Geologists Might Have Stumbled Upon the Largest Gold Mine in the World — Popular Mechanics
$83 billion has just been sitting there underground this whole time.
How big is the “supergiant” deposit located under the Wangu gold field in the Hunan province? Experts estimate it at 1,100 tons.
According to Chinese state media, a team of geologists detected over 40 gold veins of roughly 330 tons of gold ore dipping 6,600 feet deep under Pingjiang County’s Wangu gold field. But 3D modeling blows that number out of the water, showing there could be as much as 1,100 tons as deep as 9,800 feet. If the models are accurate, the deposit in its entirely could be worth roughly $83 billion.
Adding some more heft to the already weighty (literally) find was the report that the new discovery features 138 grams of gold per metric ton of ore, a valuable rate not often found in gold mining. “Many drilled rock cores showed visible gold,” said Chen Rulin, an ore-prospecting expert at China’s Hunan Province’s Geological Bureau, according to Chinese state media.
If the 1,100-ton figure holds up, that makes this new find the largest gold mine in the world, even outpacing South Africa’s South Deep gold mine with its 1,025 tons of gold, according to Mining Technology. Mines in Indonesia, Russia, New Guinea, and Chile round out the top-five gold mines in the world. The Carlin Trend and Cortez gold mines, both in Nevada, are ranked sixth and 10th worldwide.
How much is gold worth if there are no buyers?Well, sounds like China found more gold.
A deposit of gold ore recently discovered in China isn’t just giant. It’s supergiant. So much so, in fact, that Chinese experts claim it could be the largest deposit of any precious metal—not just gold ore—in existence today.
Geologists Might Have Stumbled Upon the Largest Gold Mine in the World — Popular Mechanics
$83 billion has just been sitting there underground this whole time.
How big is the “supergiant” deposit located under the Wangu gold field in the Hunan province? Experts estimate it at 1,100 tons.
According to Chinese state media, a team of geologists detected over 40 gold veins of roughly 330 tons of gold ore dipping 6,600 feet deep under Pingjiang County’s Wangu gold field. But 3D modeling blows that number out of the water, showing there could be as much as 1,100 tons as deep as 9,800 feet. If the models are accurate, the deposit in its entirely could be worth roughly $83 billion.
Adding some more heft to the already weighty (literally) find was the report that the new discovery features 138 grams of gold per metric ton of ore, a valuable rate not often found in gold mining. “Many drilled rock cores showed visible gold,” said Chen Rulin, an ore-prospecting expert at China’s Hunan Province’s Geological Bureau, according to Chinese state media.
If the 1,100-ton figure holds up, that makes this new find the largest gold mine in the world, even outpacing South Africa’s South Deep gold mine with its 1,025 tons of gold, according to Mining Technology. Mines in Indonesia, Russia, New Guinea, and Chile round out the top-five gold mines in the world. The Carlin Trend and Cortez gold mines, both in Nevada, are ranked sixth and 10th worldwide.
Currently? Gold’s running what? $3300/oz? Something like that? Is there any shortage of buyers if they can chase the price up to these astronomically ridiculous prices?
Throw another 35 million ounces into the mix and the price will come down for all gold…but will it lessen demand regardless of the source? Anyway, just sharing a news story that might have an interesting effect on the gold market eventually. Just so happens to have been found in China under an existing gold deposit it seems.
How much is anything worth if there’s no buyers? Why would there be no buyers? Are you saying there might not be North American buyers?
China’s New Trade Negotiator Is Ready to Play Hardball — The Wall Street Journal
He Lifeng, Beijing’s economic gatekeeper, has a clear mandate from Xi Jinping: China won’t be catering to the U.S.
Currently? Gold’s running what? $3300/oz? Something like that? Is there any shortage of buyers if they can chase the price up to these astronomically ridiculous prices?
Throw another 35 million ounces into the mix and the price will come down for all gold…but will it lessen demand regardless of the source? Anyway, just sharing a news story that might have an interesting effect on the gold market eventually. Just so happens to have been found in China under an existing gold deposit it seems.
How much is anything worth if there’s no buyers? Why would there be no buyers? Are you saying there might not be North American buyers?
China’s New Trade Negotiator Is Ready to Play Hardball — The Wall Street Journal
He Lifeng, Beijing’s economic gatekeeper, has a clear mandate from Xi Jinping: China won’t be catering to the U.S.
U.S. Executive Order Sanctions the Trade of Russia’s Gold Reserves
In another step towards closing off all avenues for Russia to sidestep international sanctions in response to the country’s unprovoked invasion of Ukraine last month, U.S. President Joe Biden signed an executive order that bars all transactions with the Russian central bank’s gold reserves...
www.occrp.org
Maybe the aluminum wiring we have been collecting will finally have some value.China says the US has "severely violated" their trade truce and will take strong measures to defend its interests.
China's Ministry of Commerce said Washington has "seriously undermined" the agreement reached during talks in Geneva last month, when both countries lowered tariffs on goods imported from each other.
The spokesperson added that US actions have also severely violated the consensus reached during a phone call in January between China's leader Xi Jinping and President Donald Trump.
The comments come after comments by Trump on Friday that China had "totally violated its agreement with us".
Meanwhile two top White House officials suggested on Sunday that Trump and Xi could hold talks soon.China says US has 'severely violated' tariffs truce — BBC News
The comments come after Trump said on Friday that China had "totally violated its agreement with us".
View attachment 29363
Premiums for consumers buying aluminium on the physical market in the United States soared on Monday after U.S. President Donald Trump said he planned to increase tariffs on imported steel and aluminium to 50% from 25%.
The U.S. is heavily reliant on aluminium imports. About half of all aluminium used in the country for transport, packaging and construction is delivered from elsewhere, with the vast majority coming from Canada. The new tariffs are due to take effect on June 4.
Buyers on the physical market usually pay the London Metal Exchange (LME) benchmark aluminium price plus a premium covering taxes, transport and handling costs.
The U.S. Midwest duty-paid aluminium premium reached $0.58 per lb, or $1,279 a metric ton, on Monday. That was a 54% jump from Friday and 164% growth since the start of 2025.
Part of Monday's growth was amplified by June 2 being the first trading day of the new month, when regional premiums often make a strong move.
Goldman Sachs said the premium would need to rise to between $0.68 and $0.70 per lb to fully reflect the 50% import tariff. LME benchmark aluminium was last up 0.2% at $2,448.5 a ton.
Aluminium premium for US buyers soars after Trump doubles tariffs — Reuters
Premiums for consumers buying aluminium on the physical market in the United States soared on Monday after U.S. President Donald Trump said he planned to increase tariffs on imported steel and aluminium to 50% from 25%.
How much is gold worth if no one thinks it has any value? To a certain extent, this applies to all minerals, but gold has an artificial value based on the belief that is can be traded for everything. I have never seen much value for gold other than what is required for industrial purposes. Jewelery doesn't interest me, and there are other, more valuable items to trade these days.
Trump to sign order doubling steel and aluminum tariffs today: White House — CTV News
White House Press Secretary Karoline Leavitt confirmed that U.S. President Donald Trump will sign an executive order today to double tariffs on steel and aluminum imports.
When asked why Trump doubled the tariffs despite U.S. leaders asking for more economic stability, Leavitt said, “you also have U.S. business leaders begging to meet with this president and begging to come to the White House to talk to him because they know he is the negotiator in chief, that he’s making good deals on behalf of the American worker, and the steelworker in particular.”
The tariffs are set to take effect on Wednesday.
Canada is the largest steel and aluminum supplier to the U.S. Canada exported $15.9 billion worth of aluminum to the U.S., according to the United Steelworkers Union.
Removing Chinese tariffs on Canadian agriculture products a priority, says Carney — The Canadian Press
The federal government plans to work urgently to remove Chinese tariffs on Ca
"They're a top priority for us."
In 2024, Canada exported $920-million worth of canola meal to China along with $21-million worth of oil.
China is Canada’s second largest fish and seafood export market after the U.S., with $1.3 billion in products shipped to the Asian nation last year.
The president’s ability to unilaterally impose tariffs stands on shakier legal ground after a federal court last week knocked down many of his other duties put in place under an emergency law.
His levies on metals were not subject to that ruling, however, and the president has sought to show he’s undeterred from pressing countries to make offers at the negotiating table.
Trump Signs Order Doubling US Steel, Aluminum Tariffs to 50% — Bloomberg
President Donald Trump has raised steel and aluminum tariffs to 50% from 25%, following through on a pledge to boost US import taxes to help domestic manufacturers.
A key component of the nations’ framework reached last month was an effort to lower trade barriers on steel, though the two sides did not agree on the extent of relief for British steel and the deal has yet to take effect.
Mexico has said it will ask the US administration for its own exemption from what Economy Minister Marcelo Ebrard has called an “unsustainable” increase.
He later announced in a social media post that the aluminum tariff would also rise to the same level.
Weenises up.View attachment 29386
The president’s ability to unilaterally impose tariffs stands on shakier legal ground after a federal court last week knocked down many of his other duties put in place under an emergency law.
His levies on metals were not subject to that ruling, however, and the president has sought to show he’s undeterred from pressing countries to make offers at the negotiating table.
Metals charges on imports from the UK will remain at the previous 25% rate to allow the two nations to work on new levies or quotas by a July 9 deadline, according to the order.
Trump Signs Order Doubling US Steel, Aluminum Tariffs to 50% — Bloomberg
President Donald Trump has raised steel and aluminum tariffs to 50% from 25%, following through on a pledge to boost US import taxes to help domestic manufacturers.
A key component of the nations’ framework reached last month was an effort to lower trade barriers on steel, though the two sides did not agree on the extent of relief for British steel and the deal has yet to take effect.
Mexico has said it will ask the US administration for its own exemption from what Economy Minister Marcelo Ebrard has called an “unsustainable” increase.
He later announced in a social media post that the aluminum tariff would also rise to the same level.
"We can't ship at 50 per cent. Perhaps we can stockpile for a few days, but obviously we can't keep producing if one of our major markets is shuttered."
Will doubled steel tariffs slam the door to U.S. market, or are they just another cost to factor in? — CBC News
With U.S. President Donald Trump's tariffs on steel and aluminum now doubled, Canadian steel businesses and industry leaders — already wounded by the initial tax — have mixed feelings about what comes next.
Why aren't we making tanks, ships and guns out of that instead of the US?View attachment 29387
"We can't ship at 50 per cent. Perhaps we can stockpile for a few days, but obviously we can't keep producing if one of our major markets is shuttered."
What & when is Trumps next flipflop on this?
Will doubled steel tariffs slam the door to U.S. market, or are they just another cost to factor in? — CBC News
With U.S. President Donald Trump's tariffs on steel and aluminum now doubled, Canadian steel businesses and industry leaders — already wounded by the initial tax — have mixed feelings about what comes next.
Roshel is doing exceptionally well with the Senator APV built on a Canadian Ford F350 classis.
Well, I’m assuming it’s a time span thing, and in the last four months, there hasn’t been time to completely switch the US to producing all of its own steel and aluminum, & Canada to producing all of its own armaments, etc…do you think I’m warm on this guess?
Well, the slaves in China that no one gives a shit about will have their work cut out for them, that's for sure!Well, sounds like China found more gold.
A deposit of gold ore recently discovered in China isn’t just giant. It’s supergiant. So much so, in fact, that Chinese experts claim it could be the largest deposit of any precious metal—not just gold ore—in existence today.Geologists Might Have Stumbled Upon the Largest Gold Mine in the World — Popular Mechanics
$83 billion has just been sitting there underground this whole time.
How big is the “supergiant” deposit located under the Wangu gold field in the Hunan province? Experts estimate it at 1,100 tons.
According to Chinese state media, a team of geologists detected over 40 gold veins of roughly 330 tons of gold ore dipping 6,600 feet deep under Pingjiang County’s Wangu gold field. But 3D modeling blows that number out of the water, showing there could be as much as 1,100 tons as deep as 9,800 feet. If the models are accurate, the deposit in its entirely could be worth roughly $83 billion.
Adding some more heft to the already weighty (literally) find was the report that the new discovery features 138 grams of gold per metric ton of ore, a valuable rate not often found in gold mining. “Many drilled rock cores showed visible gold,” said Chen Rulin, an ore-prospecting expert at China’s Hunan Province’s Geological Bureau, according to Chinese state media.
If the 1,100-ton figure holds up, that makes this new find the largest gold mine in the world, even outpacing South Africa’s South Deep gold mine with its 1,025 tons of gold, according to Mining Technology. Mines in Indonesia, Russia, New Guinea, and Chile round out the top-five gold mines in the world. The Carlin Trend and Cortez gold mines, both in Nevada, are ranked sixth and 10th worldwide.
Prime Minister Mark Carney says Canada will not immediately retaliate after U.S. President Donald Trump raised tariffs on steel and aluminum to 50 per cent, citing ongoing negotiations over a new trade and security deal with Washington.
Canada ‘will take some time’ before responding to higher U.S. steel, aluminum tariffs, Carney says — The Globe and Mail
The Prime Minister says the levies, which increased to 50% on Wednesday, are unjustified, but Canada will focus on trade talks with the U.S. before responding
“We will take some time, not much, some time, because we are in intensive discussions right now with the Americans on the trading relationship,” the Prime Minister said. “Those discussions are progressing.”
Mr. Trump initially imposed tariffs of 25 per cent on the metals in March, which he doubled as of Wednesday. The tariffs apply globally but they disproportionately hit Canada, which is the largest supplier of both metals to the U.S.
Roughly half of U.S. aluminum imports and nearly one-quarter of steel imports come from Canada.
Carney hints retaliation is coming after Trump's latest steel and aluminum tariffs — National Post
More than 90 per cent of Canada’s steel and aluminum is exported to the United States, according to 2024 federal government statistics