🇺🇸❌🇵🇦‼️ Contrary to what Trump said about the US-Panama deal that allows US to deploy troops there, the President of the Republic of Panama, José Raúl Mulino, took the opportunity a few hours ago to reiterate that the Panama Canal is and will remain Panamanian.

"Following yesterday's visit by the United States Secretary of Defense to Panama, it was very difficult for us to impose the criterion of Panamanian sovereignty on our territory, on the Panama Canal," said Panamanian President José Raúl Mulino this Thursday during an event in Peru, where he is on an official visit.

Regarding the memorandum of understanding signed with the United States Department of Defense, Mulino said that there were at least four versions of the text that were returned. "We withdraw the concepts of permanent military presence, military bases, and the cession of territory, because that is unacceptable."

@FelipeChannel

🇨🇳1️⃣2️⃣5️⃣🔣💲❗️❌🇺🇸 — 📰 ZeroHedge | China Escalates With 125% Tariff On US Imports, Signals Will "Ignore" Future Retaliation | April 11, 2025:

"Around the close of Hong Kong trading hours, Beijing retaliated against President Trump's tariffs by hiking levies on U.S. goods to 125%, up from the prior 84%. In a notable shift, the Chinese Communist Party announced it would "no longer respond" to any further tariff increases from Washington. 

As the week concludes, the U.S. and China are locked in a heated, once-in-a-century trade war. Earlier, President Trump announced a 90-day suspension of additional country-specific tariffs for countries that have refrained from taking retaliatory measures—an apparent attempt to isolate China and use tariffs to get Beijing to strike a trade deal.

The State Council Tariff Commission announced that China will raise tariffs on U.S. goods from 84% to 125% effective Saturday. The move comes in direct response to President Trump's effective tariff rate on Chinese imports, which now totals a whopping 145%.

"Given that at the current tariff level, there is no market acceptance for U.S. goods exported to China. If the U.S. continues to impose tariffs on Chinese goods exported to the U.S., China will ignore it," the council said. 

In a separate statement, the Commerce Ministry expressed, "Even if the U.S. continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of the world economy."

#Geoeconomics #WWT

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🇨🇳🇺🇸 China has massively reduced its dependence on the US market for its exports.

Here you see a breakdown of China's export destinations in 2017 (left) and 2023 (right).

In 2017, 20% of China's exports went to the US.

In 2023, 12.8% of China's exports went to the US.

🔗 Jostein Hauge

🚘🇺🇸🇨🇳 Tesla stops taking new orders in China for two imported, US-made models

Tesla has suspended taking new orders for Model S and Model X vehicles on its Chinese website, Reuters checks showed on Friday, as the world's two largest economies exchange blows in a trade war.

Both models are made in the U.S. and imported to China. New orders for the two models were also no longer available on the automaker's WeChat mini programme account in China.

https://www.reuters.com/business/autos-transportation/tesla-suspends-taking-new-orders-model-s-model-x-chinese-website-2025-04-11/

https://archive.ph/hgeAB

📝⚡️💬🏳📍🇹🇷 — 📰 ZeroHedge | Russia & US Reveal Details Of Latest Talks In Istanbul | April 11, 2025:

"American and Russian delegations continued their direct engagement in an effort toward normalization, meeting Thursday in Istanbul for talks which lasted for more than five hours. Moscow's newly appointed ambassador to Washington, Aleksandr Darchiev, led the Russian side, while the US side was headed by Deputy Assistant Secretary of State for European and Eurasian Affairs Sonata Coulter.

Darchiev was quoted in TASS after the meeting as saying that an "understanding has been reached [to pursue] further measures aimed at easing the movement of diplomats in the host country as well as related visa procedures."

The two sides are also working on a road map to restore Russian diplomatic properties previously seized by the US, according to regional media."

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🇨🇳China says won't bother raising tariff rates further since it no longer makes economic sense and rates have become a "joke"

https://bloomberg.com/news/articles/2025-04-11/china-raises-tariffs-on-us-goods-to-125-in-retaliation

🔗 John Kemp