2/ First, let's remember how this started. Trump rolls into office proclaiming that China is stealing U.S. manufacturing jobs and he's going to put tariffs on Chinese goods in order to force China to play by trade rules and bring jobs back to the U.S..
3/ So where were are we at going into the Trump-Xi meeting? The U.S. put tariffs on Chinese goods. The cost to an Americans family of Trump's tariffs have been about $3800 so far this year. Just devastating.
Trump was threatening more restrictions.
Where We Stand: The Fiscal, Economic, and Distributional Effects of All U.S. Tariffs Enacted in 2025 Through April 2
4/ So China stopped exporting critical minerals and importing soy beans. More devastation.
Without these minerals, the U.S. couldn't make everything from cars to fighter jets. Without China's soybean market, American farmers were getting pummeled.
China Bought $12.6 Billion in U.S. Soybeans Last Year. Now, It’s $0.
5/ Trump's policy was a TOTAL FAILURE. China didn't stop its unfair trade practice and U.S. factory jobs are DECLINING, not growing. All that is happening is an escalating trade war that's hurting American families, farmers and businesses.
The U.S. is losing thousands of manufacturing jobs, analysis finds
Uncertainty over U.S. tariffs and other Trump administration economic policies are deterring manufacturers from hiring, according to the Center for American Progress.
6/ So Trump went to Xi to surrender. Trump rolled back the tariffs, paused the new restrictions, and in exchange Xi made a vague commitment to buy some soybeans and start exporting some minerals.
Xi had now proven that he could win a trade war with Trump.
An embarrassment.
7/ But IT GETS WORSE (and here comes the corruption story).
As a sweetener, Trump tells Xi he might lift export restrictions on selling China the most advanced AI microchips.
This would be a disaster, allowing China to catch us in the AI race.
Nov 3, 2025 23:288/ Why? Maybe because chip maker Nvidia's CEO paid Trump $1 million for a private meeting and made a HUGE donation to help build the ballroom. Now Trump says he's open to helping China get access to Nvidia's chips - which Biden wouldn't sell to China.
Nvidia's Huang joins tech titans funding Trump's ballroom
WASHINGTON (Reuters) -Nvidia CEO Jensen Huang donated to fund the construction of U.S. President Donald Trump’s White House ballroom, he told reporters, joining other tech leaders supporting the proje...
9/ What isn't part of Trump's "deal" with China. No commitments from Xi to stop financing Russia's war against Ukraine. No protections for Taiwan. No restrictions on China's export of fentanyl ingredients.
China keeps getting away with murder.
Russia looks to cosy up with China after Trump’s meeting with Xi
Russian officials appeared eager to reafiirm Moscow's alliance with China following President Donald Trump's meeting with Xi Jinping last week.
10/ So bottom line: 8 months after Trump starts a massive trade war with China:
- U.S. factory jobs declining
- U.S. families paying thousands for tariffs
- China makes not a single concession
- The world watches Xi bully Trump into surrender
Awesome.
Opinion | Trump Lost the Trade War to China
