The Disastrous Economic War
Tariffs, Taxes, and Terror

I suspect the economic chaos created by the tariffs was called off by Trump's billionaire buddies. The Trumpeteers claim it is 5D chess, but I'm sticking with chaos, mayhem, and blunder. The outcome is an economic war with China which the US is bound to lose. An economic war supposedly declared because of China's counter tariffs, but I might point out the EU and Canada both planned counter-tariffs and have escaped Trump's wrath so far. Meanwhile the US continues its inane bombing of Yemen (to no avail) as the Houthis continue striking US ships. Bibi came to the White House this week to encourage a war with Iran. There's debate about whether Trump will acquiesce. The demands being made to Iran are unacceptable. So here we are on the brink of economic and military disaster. Let's dive deeper below the fold....

There is some hope Whitkoff's meeting with Putin and Iran could prevent a hot war with Iran. We can hope. There's disagreement among my favorite analysts. Pepe and Larry Johnson think war is unavoidable. Ray McGovern and Jeffery Sachs are hopeful it will be avoided. Time will tell, but here's my prediction: If the US becomes involved with a war against Iran, the US will lose...after all consider the outcomes in Yemen, Afghanistan, and Vietnam.

Well it appears the meeting with Iran didn't produce much.

Not very much happened at the much-anticipated ‘indirect’ meeting between Iranian and US delegations in Oman on Saturday. While Tehran has been emphasizing the indirect nature of the dialogue, President Trump and his top officials have been calling these ‘direct’ talks. The main ‘positive’ is that the two sides didn’t yell each other out the room, or make new accusations – instead they agreed to keep the diplomatic engagement going. “Iran and the United States will hold more negotiations next week over Tehran’s rapidly advancing nuclear program, Iranian state television reported Saturday at the end of the first round of talks between the two countries since President Donald Trump returned to the White House,” The Associated Press reports as the meeting wrapped up.
As for whether they were ‘direct’ or not, Iranian state did say that Trump regional envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi “briefly spoke in the presence of the Omani foreign minister” at the end of the talks. This does indeed mark the first direct interaction between the Islamic Republic and the Trump administration. It is Trump during his first term who pulled the US out of the 2015 JCPOA nuclear deal (in April 2018). The Iranian side has announced that the next round of talks will take place April 19, in a clear sign that both sides could be ready to do a new deal. This is precisely what Trump has demanded – the inking of a new nuclear deal – while threatening military action against Tehran. Trump has also warned that Israel might ‘lead’ such strikes on nuclear facilities.

A strike against Iran? Talk about an idiotic move...WWIII here we come

Let's go to school on the economics of tariffs.
First up, Professor Sachs... with an excellent lesson on the benefit of trade.

Tariff wars and peace talks w/ Jeffrey Sachs (54 min)
At about 45 min Jeff explains why he thinks this is a war targeting China.

China likened the United States’ tariff policy to a ‘numbers game’ with no practical meaning after the administration of US President Donald Trump imposed multiple rounds of duties on Chinese imports over the past few weeks. In a statement on Friday, the Chinese government accused Washington of using tariffs as a weapon for bullying and coercion, while hitting back with its own reciprocal trade duties. ”Even if the US continues to impose even higher tariffs, it would no longer have any economic significance and would go down as a joke in the history of world economics,” a spokesman for the Ministry of Commerce said, as cited by Reuters. The US has imposed four major tariff hikes on China in just over two months, with the latest escalation on Wednesday bringing the duties from an initial average of 20% to a cumulative rate of 145%.
China has retaliated, announcing its latest reciprocal hike to 125% on all American imports on Friday. The Ministry of Commerce said Beijing would not retaliate any further, indicating that it may turn to other ways of responding and vowing to “fight to the end.” Trump argues that the increased duties are needed to address trade imbalances and stop China from “ripping off the USA.” Earlier this week, he opined that the “proud” Chinese would have to “make a deal at some point.” China has also filed a lawsuit with the World Trade Organization challenging the latest US tariff hike, asserting that Washington’s actions have significantly disrupted the global economy. The trade dispute between the world’s two largest economies has caused extreme volatility in global stock markets, sent oil prices to four-year lows, and caused concerns regarding global supply chains.

Martin Armstrong agrees with Jeff on the benefits of trade.
Martin Armstrong Reveals INSIDER INTEL on Trump Tariff War (58 min)
Armstrong: "War comes when the economy goes down." The average Joe is always against war. He just wants to be left alone to pursue his own interests. Who ruins the economy? Politicians. Who wants war? Bankers. Why? Money is more important to them than your son or daughter is.

Market Tumult From Fractious Messaging Forces Trump Narrative Shift On Tariffs
President Donald Trump’s tariffs have successfully brought at least 70 countries to the negotiating table, but the tumultuous market situation highlights a need for the administration to simplify the message to the public. And they seem to have coalesced around Treasury Secretary Scott Bessent’s approach of marketing them as a negotiating tactic. The initial “Liberation Day” tariffs saw Trump impose sweeping “reciprocal” tariffs across most of America’s key trading partners and the creation of a baseline 10% tariff for other nations. Close trading partners such as Vietnam, Japan, South Korea and Israel speedily reached out to negotiate deals, with some even announcing the end of tariffs in anticipation of Trump’s initial announcement. The market fell precipitously in the following days amid internal disagreements within the Cabinet on both messaging and the long-term approach. Department of Government Efficiency (DOGE) chief Elon Musk and Bessent became proponents of a negotiation-focused approach to the tariffs, while Commerce Secretary Howard Lutnick and economic advisor Peter Navarro favored the tariffs on their own merits.

Alex Krainer thinks it is a war on Europe.

Alex Krainer: Trump’s Tariffs Backfire? BRICS Unites Against U.S. Dollar Power (70 min)

Alex was also on Larry Johnson's show this week. Another excellent interview.
Trump's Tariffs: Who Will Break First? | Alex Krainer Interview (54 min)
What’s really behind the U.S. tariffs on China? How is the U.S. pushing Europe to the edge of collapse? In this eye-opening conversation, Counter Currents host Larry Johnson and economic analyst Alex Krainer break down the explosive effects of U.S. foreign policies, military operations, and tariff wars that are shaking the global economy. From Yemen to the Red Sea, and Europe’s economic meltdown—discover how the U.S. is playing a dangerous game that could change the world order.
00:00:00 Intro – tariffs, war, and global chaos: what’s really going on?
00:00:30 Is Europe really backing the US tariff war?
00:01:03 US vs Europe: who's behind the economic attack?
00:02:20 Operation Rough Rider: why bomb Yemen again?
00:05:10 How the Red Sea operation crushed European trade
00:06:34 US and Europe: alliance or economic sabotage?
00:08:38 Tariffs, Nord Stream, sanctions – is this a war on Europe?
00:12:00 Europe heads toward dystopia: censorship, CBDCs, repression
00:13:01 Brussels in reactive mode: no plan, no democracy
00:17:36 Pentagon war games: 30 years, no lessons learned
00:20:00 The US is running out of missiles – and still provoking wars
00:22:55 Is Yemen just a cover? The real target might be Europe
00:25:10 Cutting off rare earths: is the US sabotaging itself?
00:26:10 Russia demonized – but where’s the evidence?
00:28:08 Backing 9/11-linked extremists while calling Iran the top threat
00:32:16 Trump coordinating with Russia and China?
00:36:21 Iran is ready to fight – and the US has no good moves left
00:38:05 Who really loses in the tariff war: US or China?
00:41:11 Will China dump US treasuries and kill the dollar?
00:43:00 Tariffs set to trigger US inflation shock by year-end
00:46:16 Tariffs vs eggs: how killing chickens explains economic collapse
00:47:47 Gold over dollars: China’s quiet economic revolt
00:50:00 US foreign policy: cowboy threats, zero diplomacy
00:52:11 A nuclear power run by chaos – global risk rising
00:53:28 Where to follow Alex Krainer and his sharp analysis

And one more from Alex with Glenn Deisen for all the Krainer fans.
Alex Krainer: Declining Europe vs Rising BRICS (48 min)

Next up, Pepe Escobar...

Pepe Escobar: Trump Admits Yemen SANK US Warships, Iran & Putin DEEPEN War Preparations (77 min)
Geopolitical analyst and journalist Pepe Escobar returns from Yemen for an update on Trump's losing war on Yemen and what it says about US escalations with Iran. Is Trump bluffing, or should Putin, China, and Iran and the multipolar world be on high alert for the unthinkable?

Pepe was also on Nima's show.
Pepe Escobar: Russia, Iran, China Join Forces — U.S. in the Crosshairs? (60 min)

And of course he also talked with the judge this week
Pepe Escobar : Donald and Bibi: Birds of a Feather

Why China Won’t Call a ‘Tariff-wielding Barbarian’ (Pepe Escobar)
The Toddler Temper Tantrum-style Trump Tariff Tizzy (TTT), now accelerated to 145% – and counting – is yet another thunderous trademark pigeon smashing the chessboard gambit. It won’t work. Trump claimed that China would call him to “make a deal”. That’s reality show territory. Reality is more like the statement by the Customs Tariff Commission of the State Council: “Given that U.S. exports to China already have no market acceptability under the current tariff rates, if the U.S. further imposes additional tariffs on Chinese goods, China will simply ignore them.” Translation: keep vociferating/tariffing. We don’t care. And we will stop buying from you. Anything. The Chinese Foreign Ministry: A “tariff-wielding barbarian can never expect a call from China.” Basic numbers. China’s GDP for 2025 is projected at 5%. U.S. imports account for at best 4% of Chinese GDP. China’s share of total exports to the U.S. dropped to 13.4 per cent in 2024.
Goldman Sachs – not exactly a CCP “mouthpiece” – has just projected that TTT will cost China only 0.5% of GDP in 2025, while costing no less than 2% of U.S. GDP. Talk about blowback. Still, from now on, what matters most for Beijing is to keep diversifying the supply chain. Asia-wide, the extra wheels are in motion.

Let's move on to a lesson from Professor Mearsheimer.

Prof John Mearsheimer: Trade Tensions Explode Trump v. China (53 min)
Trump imposed 104% tariffs on China, emphasizing his strategy of retaliating aggressively when challenged. He believes China wants to make a deal but doesn’t know how to start negotiations. Trump is open to negotiations and claims he will be “gracious” if China reaches out.
China’s Reaction:
In response, China imposed 84% tariffs on the U.S., signaling they will not be intimidated and are ready to push back hard.
Prof. John Mearsheimer:
China and other nations (Russia, Iran, North Korea) understand Trump only respects toughness.
The current situation is a classic case of hardball diplomacy, with both sides posturing strongly.
Strategic View:
Trump sees short-term economic pain as necessary for long-term gain:
Absolute gain: Rebuilding U.S. manufacturing will benefit America economically.
Relative gain: China will be hurt more, shifting the power balance in favor of the U.S.
Skepticism from Economists:
Most economists see these tariffs as a "boneheaded" move, likely to hurt the global economy and disrupt trade without clear benefits.
Long-Term Uncertainty:
The true effects of these tariffs are unpredictable, similar to how sanctions on Russia didn’t have the intended effect.
Diplomatic Repercussions:
Trump's aggressive, transactional approach undermines trust in U.S. reliability as a partner.
Allies in East and Southeast Asia (e.g., South Korea, Vietnam) may begin to reassess their ties with the U.S.
Vietnam Case Study:
Vietnam, heavily reliant on U.S. trade, is panicked by the tariffs despite being eager to cooperate.
Damaging economic ties with Vietnam may also undermine important security alliances in the region.
Final Thoughts:
The consensus is that while Trump’s approach may yield some leverage, the cost to U.S. credibility and alliances could be profound and lasting.

And on more from the Judge
Prof. John Mearsheimer : Trump, Netanyahu, and Iran

Let's not forget Alastair Crooke's insights...

(58 min) On the Path to War with Iran - Alastair Crooke, Alexander Mercouris & Glenn Diesen

Alex and Alexander also provide some analysis.
TARIFF PAUSE. White House chaos as problems multiply (47 min)

This is an interesting take:
NEW - Chamath Says Trump Didn’t Just Shake Up the System—He Broke the Elites’ Entire Economic Playbook. They’re not just upset—they’re terrified.
Chamath Palihapitiya, once one of the Democratic Party’s top donors, is now exposing the global elites’ unified strategy—and why it’s crumbling fast.
He declared: “They’ve deeply benefited from a 20-year regime of taking jobs and moving them anywhere in the world that allowed you to optimize for profit.”
That system made Wall Street and multinational corporations wildly wealthy. They shipped out American jobs, gutted the middle class, and got rewarded with decades of near-zero interest rates.
“It benefited from an economic regime of low volatility, where you could keep interest rates effectively at zero for quasi forever.”
But then Trump happened—and their grip on economic policy began to slip. Palihapitiya explained that the elites had grown accustomed to scaring presidents into compliance. But not this one.
“What they see is an inability to create and scaremonger the White House into economic policy.”
And that, he said, is shaking them to the core.
“This is very troublesome for them because they have been able to control from Wall Street or from London, or from these other places, how governments behave.”
Now, with Trump back on the scene, their entire system is under threat—and they know it.
“What you see right now is them violently trying to push back and trying to create a narrative.”
This was never just about tariffs or trade. It was about control. And the people who built an empire on cheap labor, financial games, and backroom influence are watching it all slip away.

Here's another interesting analysis from Paul Craig Roberts

The whore media is doing its best to misrepresent the tariff issue and to cause hysteria that causes stock market volatility and fears of world recession. One of the anti-Trump propaganda ministries that poses as financial media went so far as to claim that Trump has caused a “regime shift whereby US Treasuries are no longer the global fixed-income safe haven.” Once upon a time the New York Times, the Financial Times, the Economist, the BBC, the US TV networks were semi-reliable. Today they are nothing but propaganda ministries. Trump has “paused” the threatened tariffs. Why? Because as I have reported in columns and interviews they are a negotiating tool with which to reach agreements. Trump paused the tariffs, because the tool worked. Seventy-five countries have agreed to negotiate a solution to Trump’s concerns.
How did the excrement that pretends to be a media report Trump’s success? “The most significant retreat by Trump in his term so far.” “Faced with a world recession, sharp selloff of equities and bonds and plunge in oil prices, Trump abandoned his crackpot tariffs.” The Western media, especially the one in the US, has never served the West well. The US media covered up the assassinations of President John Kennedy and his brother Robert Kennedy. The media first encouraged, then misrepresented, the Vietnam War. The media used the CIA-orchestrated “Watergate” to hound President Nixon out of office. The media tried, but failed, to destroy President Reagan as a somnolent Grade-B movie actor who slept through cabinet meetings.
The media covered up 9/11. The media supported obvious lies, such as “Saddam Hussein’s weapons of mass destruction,” “Assad’s use of chemical weapons against his own people,” accused Gaddafi of ” being an authoritarian administration that systematically violated human rights and financed global terrorism in the region and abroad” (Wikipedia, the worst liar on earth). The media makes excuses, or does not cover, Israel’s extermination of Palestine and the Palestinian people. The media lies through their teeth about “the Russian invasion of Ukraine,” about alleged evils of Iran and China. When people in the Western world are confronted by nothing but lies and propaganda serving as news, what understanding can they have?
Consider the Iranian issue. Iran has not threatened the US in any way, yet labors under Washington’s sanctions and war plans to attack Iran. For many years the Israel Lobby has been trying to get Americans to attack Iran for Israel. Trump, who appears to be an Israeli puppet instead of a strong American president, is threatening Iran with devastating attack. But does he mean it, or is it, like the tariff threat, just another negotiating instrument? If I were Trump, I would not want any wars, because wars are all-consuming, and the domestic agenda would be put on the back burner. I think that Trump wants to avoid all wars so that he can deal with America’s real enemy: the American Establishment. It will be interesting to see who is strongest, Trump or the war establishment.

No doubt the MSM misleads us.

US FOREIGN POLICY IS BUILDING "BRICS" + RUSSIA/TRUMP DEAL OR NO DEAL? W/ LARRY C JOHNSON
A focus on Trump's tariff U-turn

Ray and Larry see the likelihood of a US Iran War differently...

(32 min) INTEL Roundtable w/ Johnson & McGovern : Weekly Wrap

Will there be a US Iran war?

(67 min) Larry Wilkerson,Chas Freeman & Trita Parsi:
Iran Prepares for US Showdown — Powered by Russia & China

What about all the protest last weekend?
The title is misleading. No one claimed they were paid. However many couldn't explain what the protest was about. No doubt Soros money and probably some USAID NGO money was used to organize all of the protests.

(11 min) "I don't even know why I'm here!" Paid protestors caught at anti-Trump Musk rallies |
Activist groups conducted protests against the Trump administration in 50 states over the weekend. Yes all 50 states. The groups behind these protests sent out emails that Redacted has received telling people what to bring and where to go. According to the organizers, Hands Off is a "nationwide mobilization to stop the most brazen power grab in modern history" by Elon Musk and Trump.

Gerald and the Judge have a weekly conversation. This week the focus was on the rise of authoritarianism. TREACHEROUS TIMES: AUTHORITARIANISM IS THE AMERICAN WAY
(21 min)

Health
Clayton and Natali speak with Robert Malone about the measles out break in Texas.

(1st 12 min) RFK Jr. & MAHA Are About to Shock the Nation – Watch What Happens Next
At 15 min another interview about cereals and how unhealthy they are.

Cholesterol fear sells satins, one of the most profitable drugs.

The X post continues...
“We blame cholesterol for a lot of the heart disease, atherosclerosis, arterial sclerosis, because it's at the scene of the crime,” he said.
But he says that’s like blaming firemen for fires.
“Cholesterol's kind of like a fireman, right? It gets called to the fire to put the fire out. So, the theory that if we had fewer firemen, we'd have less fires, is kind of absurd.”
Then he threw in a savage jab: “It might work in California. I can see them passing that legislation.”
His real point? We’ve been treating the symptom and ignoring the cause.
“So the theory that if we push down the fireman, which was called to the site of inflammation—rather than ask what started the fire—that notion is about to be blown out of the water by big data.”
And what’s coming next?
“I think you're going to see big data, artificial intelligence and early detection in the next five years, just going to circumvent the entire system.”
The cholesterol scam is cracking—and Big Pharma should be very nervous.

What is with the growth of so many diseases?

I doubt it is just one thing, but an array of things in our environment and food.

This might be one of the culprits.

Bobby suggests vaccines are causing Autism. He's saying by September he will have definitive proof.

We'll see.

There's lots more news I didn't cover today. I hope you'll add your thoughts in the comments below. It is an open thread so any and all ideas are welcome.