It was just last week when the Trump administration hit pause on its Liberation Day tariffs — except when it came to China. Not only were they excluded from the pause, they got slapped with additional hikes, escalating what had already started to look like an all-out trade war. Then came Saturday morning’s Customs and Border Patrol announcement, which seemed to undercut all of that: nearly 60% of Chinese exports, including smartphones, laptops, and semiconductors, were apparently exempt from the new tariffs.

So, what happened? Did the White House backtrack? Was this a walk-back in disguise? The administration scrambled to clarify. Their explanation: those goods are being set aside into their own “buckets” — alongside other key industries like cars and steel — for future, tougher action. These aren’t exemptions, they insist, just part of a long-term plan. The reason for the sudden PR push? According to Axios’ Mark Caputo, Trump simply doesn’t like the words “exemption” or “exception.” He felt too many were granted in his first term and didn’t want the headline suggesting he’d lost his edge.

But let’s be honest: This is hair-splitting. Whether you call them buckets or carveouts, the reality is a significant chunk of Chinese goods aren’t being hit right now, and the market knows it. The real question is whether the administration is buying time, recalibrating, or trying to thread the needle between tough-on-China optics and economic stability.

Saber Rattling, Delistings, and Peasant Talk

In the meantime, tensions are ramping up. The U.S. is now considering delisting nearly 300 Chinese companies from American stock exchanges — a move that’s part economic pressure, part political theater. The legal foundation? The Holding Foreign Companies Accountable Act, which requires financial transparency from foreign firms. Treasury Secretary Scott Bessent and Senator Rick Scott are reportedly behind the push, with Trump expected to lean on executive orders to expedite the process if necessary.

Naturally, China isn’t taking this lightly. In response, they’ve begun blocking deliveries of Boeing jets, and the rhetoric has turned acidic. China's Hong Kong and Macau Affairs Office issued a statement saying, in part, “Let those peasants in the United States wail in front of five thousand years of Chinese civilization.” That’s not diplomatic posturing — that’s a full-throated nationalist flare-up, made more surreal by the fact that JD Vance himself had recently referred to Chinese laborers as “peasants” on Fox News.

And through all of this, both sides are playing the “we’re open to talks, but we won’t be the first to call” game. It’s juvenile, it’s geopolitical theater, and it’s exactly the kind of posture that leaves markets — and companies — dangling.

What Happens Next?

Here's where I land: I don’t think we’re going back to “normal” with China anytime soon. The issues the U.S. wants addressed — IP theft, forced joint ventures, restricted market access — aren’t things China’s going to give up easily, if at all. So yes, the tariffs might eventually get reshuffled or reduced. But the era of posturing, of economic nationalism, of strategic decoupling? That’s here to stay.

The polling shows Americans are broadly in favor of being tougher on China — until, of course, it hits them in the wallet. That’s where this whole thing could flip. For now, though, the administration seems fine dragging this out. Tariffs, carveouts, buckets, delistings — it’s all part of the same dance. And we’re still in the first few steps.

At least that’s this peasant’s opinion.

Chapters

00:00 - Intro

02:14 - US-China Trade War Continues

11:45 - Update

13:13 - AOC Fundraising Record

15:15 - Andrew Cuomo NYC Race

17:22 - Brian Kemp’s Senate Potential

22:22 - Interview with Tom Merritt

49:59 - Wrap-up

After several days of panic in the markets, the Dow Jones Industrial average is rebounding. Why? It seems as if the Liberation Day tariffs may be leading to new trade deals.

The market swoon and lack of clarity has put the Trump administration in the wilderness. Is the goal to really bring all trade deficits to zero? Do we want our children screwing together iPhones as a career? Or is this just a set up for Trump to schedule a month long rose garden signing ceremony where world leaders line up single file to welcome American exports?

Today, we talk to our logistics expert Big Jim and check in with J.D. Durkin to figure out whether Trump’s tariffs mark a shift toward isolation, or just a high-stakes negotiating move. Is this a reset of global trade, or just a pause before the next deal? We’re on the clock, because by the time this drops, the whole game might have changed.

Chapters

00:00:00 - Intro

00:02:44 - Interview with Big Jim

00:43:02 - Update

00:45:09 - Supreme Court Decision Over Alien Enemies Act

00:48:30 - June 14th Military Parade

00:49:54 - House Democrat Seat Targets

00:52:34 - Interview with J.D. Durkin

01:35:18 - Wrap-up