Interesting thread on X
China just launched a new kind of trade war. "The U.S. slapped tariffs on Chinese goods. China didn’t retaliate with weapons. They retaliated with information. The kind that makes $1,000 handbags look like $10 scams. TikTok is now flooded with Chinese suppliers exposing the truth: 👜 “You want a Birkin? We make them.” 🧘♀️ “Those $100 Lululemons? They’re $6 here.” 👟 “Your Nikes? Same factory.” Made in China. Shipped to Europe. Stamped “luxury.” Sent back. Marked up 1,000%. You thought you were buying European craftsmanship. You were buying a logo, a story, and a markup fantasy. China just ripped the mask off the entire Western luxury machine and showed you the receipts. And they’re being petty with it. 😏 They’re not just selling you knockoffs. They’re showing you the exact factory. Telling you the production cost. And teaching you how to fly in, shop direct, and skip tariffs altogether.
‼️ Will we get a "shadow Fed chair" as soon as this Fall ?
On Monday, Treasury Secretary Scott Bessent has indicated that the discussion for the next Federal Reserve Chair could take place sometime in the fall. ➡️It now looks very clear that Powell's term ends in May 2026. Trump will not reappoint him. ➡️Will Trump fire him? This is very messy (and unknown legally). The alternative, proposed last year by Scott Bessent, was to create a "shadow Fed Chairman." 🔴 How will the Trump administration use a "shadow Fed Chariman"? 1) They appoint Powell's replacement months earlier. 2) They send the nominee regularly go on financial TV, tweet, etc., giving his/her personal opinion and criticising Powell views and decisions, thereby undermining his authority. The shadow Fed Chair could be nominated as soon as this fall...
🚨BREAKING: TARIFF NEWS
State companies exporting from China face UP TO 245% Tariffs *Except if you are Apple $AAPL Source: @realDonaldTrump
China on Wednesday appointed Li Chenggang as vice minister of commerce and a top representative for international trade negotiation, according to an official statement, replacing Wang Shouwen.
The appointment makes Li a key member of China’s trade negotiation team as Beijing deals with trade disputes with the U.S. So far, there have not been any sign of near-term trade talks as both sides have ratcheted up tariff tensions. Source: CNBC
In case you missed it...
The NY Empire State Manufacturing Survey 6-month Ordering Intentions fell to the LOWEST READING IN THE HISTORY OF THE INDEX! Source: Ronnie Stoeferle @RonStoeferle @kevinmuir, Bloomberg
Nvidia said on Tuesday that it will take a quarterly charge of about $5.5 billion tied to exporting H20 graphics processing units to China and other destinations
The stock slid almost 5% in extended trading. ➡️ Biden placed these original restrictions on Nvidia, to not allow China to get their hands on the latest generation chips. Nvidia spent billions on new less powerful chips that met the U.S. original criteria so it could still sell to China. And now Trump has ruled those same chips as illegal to be sold to China. For businesses, it is very difficult to operate with this level of policy volatility... Source: Bloomberg, Spencer Hakimian @SpencerHakimian
china first-quarter GDP topped Reuters poll expectations for a 5.1% growth year on year, building on a recovery that began in late 2024, thanks to a broad policy stimulus push.
▶️Retail sales in March rose by 5.9% year on year, sharply beating analysts’ estimates for a 4.2% growth. Industrial output expanded by 7.7% from a year earlier, versus median estimates of 5.8%. ▶️The urban unemployment rate slipped to 5.2% in March, following a two-year high of 5.4% in February. Source: CNBC
Here’s how Wall Street’s year end 2025 targets for the S&P 500 have changed
Source: Blossom @meetblossomapp, Yahoo Finance
