Trump's China Trade Deal is SH9T

Oh, little Chinese update here on the

front page of the Wall Street Journal,

uh, the digital version. China puts

six-month limit on its ease of rare

earth exports. So, remember, here's

what's going on with the Chinese deal.

Okay? Scott Bessant made it clear. This

is not a full deal. We have gotten

nowhere on the 55% tariffs that we have

on China and nowhere on China's 10%

tariffs on us. We've gotten nowhere on

that. We got a six-month reprieve on

rare earth export licenses in exchange

for accepting China students, Chinese

students in our American universities,

which Donald Trump on Truth Social says

he's always been a fan of, even though

two weeks ago he called them all foreign

spies, which then, you know, on our live

stream earlier we had a little bit of a

debate like where are there more foreign

spies? Is it the Chinese women that are

foreign spies that are sleeping with our

politicians? That has happened. Is it

former members of the Federal Reserve

who are leaking secrets to the Chinese?

That has happened. Or is it students in

research facilities? I I don't know. I

don't know. Okay, I'm just saying there

are leaks everywhere. They're all

leakers. They all belong in jail. If

you're a state secret leaker, you belong

in jail. That said, do I think all

Chinese students should be punished?

Probably not. But then again, this is

part of Trump's negotiations. So, China

is putting a six-month limit on rare

earth export licenses for US automakers

and manufacturers, according to people

familiar with the matter, giving Beijing

leverage if trade tensions flare up

again. Well, remember we have July 9th

coming up as the end of the uh uh you

know 90day pause on Liberation Day.

Chinese negotiators agreed to temporary

restorations of the licenses after the

latest rounds of intense talks. So uh

aimed at upholding an interim agreement

forged in Geneva. So so far we got a

little bit on rear earths and we gave

Chinese students access to here. Okay.

In exchange we also did relax the sale

to China of some products such as jet

engines. Let's see. Prattton Whitney

does the

uh Canadian jet engines. So these

wouldn't be Prattton Whitney jet engines

which I actually have a model of right

here. Yeah. Any chance I get, you got to

make use of the model. It was free. It's

not a blonde model. I prefer the blonde

models, but Canadian Pratt and Whitney

engines over here. Got to dust those

off. Keep keep the bird clean. Uh, you

know, we generally have like General

Electric engines. Anyway, going back to

the uh piece here, China negotiators

agreed to temporary restriction. Okay.

In exchange, we agreed to relax the sale

of jet engines and related parts such as

ethane, a component of natural gas.

details of the framework are still being

worked out. So these are like very

limited trade deal negotiations. Mind

you, nothing about chips so far. Nothing

on Nvidia or AMD or whatever.

Beijing wants to keep its choke hold on

the supply of critical commodities for

future negotiations. Well, of course

they do. It's leverage, boys.

During the London meetings, Jang agreed

to approve rare earth licenses

applications for US companies right away

pending sign off fine. The earliest an

application could be approved is within

a week or two of the leaders signing off

on the deal. Person noted China reserves

uh the right to approve the applications

and we will drop counter measures

including export controls on jet engines

and ethane. China said full magnets and

any necessary rare earths will be

supplied upfront by China. Uh Donald

Trump happened to leave out from his

truth social post that this is only a

sixmonth

deal which is kind of characteristic of

Trump not to provide the downsides of

the deal and only the upsides of the

deal because the way Trump kind of

pitches it on his truth social is that

you know we're winning bigly because you

know well I mean I'll just show it to

you. Uh here it is. Our deal with China

is done. subject to final approval. Full

magnets, blah blah blah, rare earths,

whatever. Chinese students uh will get

to use our colleges, which has always

been good with me, which is totally the

opposite of what he said two weeks ago,

but whatever. We are getting 55% of

tariffs. China is getting 10%.

Relationship is excellent. Again, Donald

Trump's way of sort of bragging about

like, see, I got the better end of the

deal. But that's really actually just an

admission that nothing has actually

changed

in terms of the trade deal. Like, the

trade deal still sucks.

China's grip on rare earths has become a

key point of leverage. Beijing in turn

blamed the Trump administration for

undermining the Geneva agreement. Uh

that's right. Both sides kind of argued

that they were like violating parts of

the deal. This is a You have to

understand how limited of a framework

this is. This does nothing for apparel.

This does nothing for furniture. This

does nothing for chips. This does

nothing for the broad trade of

everything that we buy and trade with

China. you know, radios, you know,

cellular radios. Okay, China. Uh, our

our iPhones with the broken glass screen

because some dumbass didn't want to get

a case for his glass phone. Um, China,

you know, assembled in China. We all

already know that, you know, $5. You

want a $5 calculator put together in

China. Okay. You want Corsair? That's

actually a Logitech mouse. Look at this

sexy Logitech mouse. Okay, they don't

even make them anymore. This This mouse

is so sexy. You can't even get them

anymore. See those MMO buttons? Can't

even get it anymore. This is beauty. See

the wire? That's how you know you're a

real gamer. You know, you know what

Jeffrey Gonlock's doing? We've just been

listening to him for quite a while here

basically bear about how the S&P 500 is

at unattractive valuations and you know,

you got to be careful and you want to

have low leverage. I mean, honestly, I

kind of don't disagree with him.

especially in this environment of

talking about trade and some of the

trade issues like the institutional

pieces we talk about uh and we're about

to talk about again or the institutional

research that we get on what's

potentially happening uh with with the

labor market which we've always talked

about but we have updates on Jeffrey

Gunllock though you know I feel like I

should call him up and ask him to do a

little sponsorship pitch for house hack

because he's the perfect pitch man for

talking about diversification. Like, you

know,

my name's Jeffrey. Um, yeah, you know,

uh, we like low debt companies with no

bank debt, like House Hack, cuz they're

diversifying and, uh, you know, you

don't have that downside debt risk.

You've got, uh, 5% yield through

conversion, upside in the stock.

Nonacredit investors could get in at

househack.com. you know, Jeffrey would

be a great like market bear. We should

hire him to pitch House Hack. That's how

you know you use wired products, you

know. So, we don't have deals on those

things, which to some extent is

problematic, you know? I mean, like, oh,

oh, oh,

you weren't supposed to see that. I'm

just kidding. Uh, okay. So, uh, how do I

get back? Oh, here we go. Uh, uhoh. Oh,

I'm back. So anyway, where were we? So

this idea is you're in this environment

where really I don't think uncertainty

has reduced at all when it comes to

where we sit with trade negotiations

because still we have no trade deals

with any country. We have a trade

deficit with zero. And this is a shell

of a deal. Now Howard Lutnik says this

is the greatest deal ever, but he's

slutnick nutlick. You know, I may as

well may as well walk over here and lick

some salty nuts.

M

#notsponsored very good honey roasted

nuts.

So, while I got nuts in my mouth, this

idea

that

the market price is in perfection, which

is basically what we have knocking on

the door of all time highs, this is

great for making money,

but we're nowhere near done with trade

negotiations. And I think that's one of

the reasons why the Q's are a little bit

disappointed today. And I mean, we're

only down seven basis points, so who

cares? I mean, Palanteer's at all-time

highs. This morning in the alpha report,

your boy Kevin's like, "Hey, D&B is

gonna potentially do well here." Uh, and

might even meme up, although we're

getting stuck at the 318 line.

Yesterday, I was also bullish on Dave

and Buster's earnings

before, mind you, that was in yesterday

morning's alpha report before it was up,

you know, 10% or 9% or whatever it was

this morning and then it shot up another

5% at the open to the line. But broadly,

we don't know what's going to happen

between now and Q3.

Because come Q3, we might actually

realize we don't have trade deals

anywhere and these tariffs are here to

stay for the long term. I think that's

why Nvidia is down 40 basis points now.

Who really cares? It's basically near

all-time highs, right? Does it really

matter right now? No, because markets

over the mindset that everything's fine.

So, I can't blame anybody looking at the

market going, "Hey, there's no problem

out there right now." But it does sort

of set up the idea of like, "Oh, Cory's

memeing down again. momentum's gone. Uh,

you know, I don't blame anybody in this

sort of environment to say, "All right,

we're basically going nowhere on trade

deals."

Japan refuses to even negotiate with us

unless we get rid of all of the trade

deals or or all of the reciprocal, you

know, tariff issues that we have. So,

this puts us in an environment where we

say, "Okay, maybe if poop's going to hit

the fan Q3, Q4,

maybe we have some trailing stops on our

stock positions." I'm not ever going to

say sell out of everything because I do

think buy and hold is fantastic.

However, for people who are on margin,

for people who are on uh uh you know, in

credit card debt or in some form of

other debt, there's a beautiful

opportunity to say, "Hey,

if uh if we're in an environment where

prices start falling a little bit, you

trail out, you stop out, and you pay off

some of that debt. Don't go into a damn

recession uh and get screwed. That's

that's it. That's all I'm saying. I And

I want to say that now while we're at

all-time highs because let's be real,

we're knocking on the door of all time

highs here. We don't have a deal with

China that actually matters. We don't

actually have meaningfully anything with

any country with a trade deficit. Even

Scott Bessant this morning on the Hill,

he's like, "Yeah, yeah, we're we're

working on deals with 18 different

countries. By the way, please pass the

big beautiful bill. Otherwise, if the

big beautiful bill doesn't pass, we're

gonna have an economic crisis the likes

of which nobody's seen since the great

recession of 089. Okay, that's also

true, mind you, but that bill is going

to pass. Like, Republicans cannot let

this year go by without passing this

bill. It would be the biggest failure of

the Republican party. There will be talk

about the bill not passing, but the bill

will pass. The big beautiful bill will

pass. There's there's I have zero doubt

about that. and anything that suggests

it's not going to pass is just blatant

fear-mongering. Uh, and I don't really

think it's necessary. That said,

you know, what comes of Q3 with actually

like getting tariff negotiations, what

happens when Liberation Day ends and

Trump sets tariff levels on other

countries? TBD. It's one of the reasons

I'm watching Restoration Hardware

because I'm like, I don't know. you

know, Restoration Hardware, you know, if

you're out in Vietnam, first of all,

Vietnam probably looks a lot like this.

You'll walk around with boomerangs over

here and start chopping some stuff up. I

don't know. But, you know, you chop up

these big, beautiful trees right here,

you can actually make yourself some nice

furniture. The problem is the tariff

rates right now are at 10%. And

Restoration Hardware spent basically all

of the money they have available to

stock up on inventory for their

products. And so, what do you have?

you've got maybe three or four months of

inventory, but what happens when that

comes to a head and all of a sudden that

inventory is spent? You know, I went to

Restoration Hardware the other day, uh,

and I actually made a video while I was

over there, uh, and the lady was telling

me they were selling stuff like

hotcakes. I think that's because what

you see in the Restoration Hardware

earnings calls is that they keep

dropping prices over there. And that's

one of the reasons, oh, somebody was

here. Oh, how could you not take that?

Uh, I think that's one of the reasons

why you're seeing this sort of

resilience of of companies now because

companies sort of stocked up, but is

that going to last? I don't know. I was

certainly hoping for a lot more news on

this China trade deal. Uh, and we didn't

get it. I mean, I even mentioned, hey,

you know, we could we could see a big

popup on Nvidia if we get back to this

H20 uh chips chip exports. And it makes

logical sense because if we can get the

H20 chip exports again, we can

potentially rewrite back in 8 million 8

billion, excuse me, dollars of revenue

and uh if we can actually negotiate a

deal with China, then we can maybe be an

environment where we're excited again

about uh not having to worry about trade

policy destroying companies like

furniture companies or toy companies or

Mattel or Hasbro or whatever. and

instead we could actually think, hey, we

can go back to an economy that's

growing. Now, don't be confused by the

Atlanta Fed Q2 GDP estimates because

remember, uh, you know, exports and

imports are a big negative uh, factor in

GDP. So, when all of a sudden we're not

importing as much because we stocked up

in Q1, GDP artificially looks high.

That's not going to last on the year's

average. So, you know, get your bamboo,

uh, get your inventory stocked up. go

bring it into your base. Uh, and uh, and

and hope for some I got to clean this

crap up. I've been doing this too much

as a little my little depot box. Anyway,

um, it's cuz I have a job to do. I don't

actually get to play more than like 5

minutes. But anyway,

I don't know. Uh, I just wish we got

more out of the deal today. I think we

were all looking forward to more and we

got less. And we've been listening to

Besson for like two hours on the Hill

and it's basically a giant ass sales

pitch for the big beautiful bill. It's

total bull crap. Like of course the

bill's going to pass. We already know

that old news.

Yes, it would be bad if the bill didn't

pass. Okay. Yes, it's going to be good

for businesses. We're going to talk

about it in the Trumpomics course,

especially all the uh you know 100%

bonus depreciation benefits that you're

going to get. But in terms of actual

trade policy, nothing, man. nothing. So

in fairness, some of the Democrats who

were railing on Besson talking about

this China trade deal

kind of right because we didn't get

anything. Now here's a piece from

Barren. China trade deal done. Other

countries may get more time. Okay. Well,

this trade deal is a joke. We basically

didn't really get anything. This is what

Besson said in in the House committee.

There are 18 trading partners. We were

working on those deals. we will roll the

date forward to continue good uh uh good

faith negotiations. This is basically a

way of also implying that this July 9th

expiration might end up just getting

kicked down the road if they don't end

up getting uh a deals. And so they'll

either assign tariff rates or we'll

delay it, which is also kind of

interesting that we could potentially

just kick the can down the road, which

is exactly what we've been doing, mind

you, with the Tik Tok deal, for example.

Uh China's restrictions on exports of

rare earth, blah blah blah. of the US

restrictions on semiconductor sales were

a key issue, but we didn't see any talk

about that. Treading water not gaining

ground is some of the commentary that

we're getting on this. Totally agree

with this. Says the negotiations were

off to a good start. I mean, we watched

it, so we don't really care on that. Uh

I'd like to see a little bit what suits

are saying on this. All right, so here

are some institutional comments on this.

US and China have established a

framework for implementing the Geneva

Consensus, which now requires

presidential approval. However, a lack

of details resulted in muted reaction

overnight, right? And we still don't

have those details. Talk about US and

Mexico agreeing, you know, nearing a

deal on steel duties. I'm surprised that

even City Bank can't spell deal

correctly. That's a good one. Uh maybe

because they're writing steel and

instead they wrote deal

framework. The court of appeals. This is

also bad news, mind you, on the tariff

situation. this whole court of appeals

extending to July 31st to hear oral

arguments. That's insane. Why don't you

hear oral arguments on trade policy as

to whether or not they're legal now? Why

are you waiting seven freaking weeks

before telling us if courts are going to

declare these trade policies uh at least

the reciprocal tariffs illegal or not?

That's like dumb.

Trade war weighing on Chinese growth,

housing and demographic headwinds. Okay.

China housing market cooling in China.

We already know that. We already know

Chinese housing market is falling in in

China. This isn't a big deal. What we

care about is the trade deal. This

appears to just be impact. US and China

less dependent on each other for trade.

This has also been true. And really the

turning point here uh was right here

which is Donald Trump's trade war 1.0.

So this is the 1.0 trade war and this is

the 2.0 trade war. And then over here

you can see the axis starts at 12% 21%

uh Chinese as a percentage of total you

know trade. You could see we care less

about trading with the Chinese which

maybe is a good thing because it'll

impact our economy less. US now

importing more from Mexico than China.

Mexico being the green line over here.

Also fair although you've seen a little

bit of a slowdown because of the recent

tariff impact. Housing bubble in China

blah blah blah. Okay that continues to

slow down. We already know that. That's

that's old news. Even Besset referred to

the housing slowdown in China

uh while he was on the hill this

morning. So, you know, again, here you

are in an environment where

we're just curious, like scratching our

heads, like what are we actually going

to get? Uh, you know, what we could do

is we could look at Louis Vuitton. Louis

is an interesting one. There's an

institutional piece here on Louis

Vuitton. The reason I think it's

interesting is because you you do get

uh a higherend sort of look at what

higherend spenders are doing.

While uncertainty remain or remains, we

believe the luxury cycle and recovery

and reiterate our buy of Louis Vuitton.

This is Goldman. So Goldman reiterates a

buy on Lousie because the valuation is

attractive trading at 14 times

enterprise value to EBIT 2026 estimates

21 times uh PE ratio.

Okay. Catalyst ahead beauty launch new

creative director changes to our

estimates still you know negative EBIT.

We now assume more pedestrian growth

outlook particularly with US and China.

we lower our underlying growth forecast

to -3%. So, still struggling to kind of

sit at flat here. And then you've got

what else on the trade deal here? People

are wondering, you know, why are the

cues falling? Because I'm pointing out

the failure of this trade deal.

Obviously, while I've been filming this

video, you know, institutions are

looking at their best source of

information, meet Kevin, and they're

like, "Man, I mean, this guy has a

point. This trade deal is a nothing

burger, and Trump didn't tell us about

the limited time frame, so you know,

like this is this is fair. Thank you,

Kevin, for letting us know uh you know,

about these trade deal concerns because

there certainly is no other broad news

that just hit because I'm also watching

the newswire services." So anyway, we'll

go back to yapping about trade policy

here. Uh, you know, even the Bloombergs,

they're just talking about Vance's

refusal or talking about monetary

malpractice. Well, I already made a

video on that and now Bloomberg's

copying me. I mean, come on, let's be

real here. We know where the real source

of news is, and it's not these suits.

So,

uh, let's see here. Because everybody's

just as clueless right now about the

trade policy.

Uh cuz the real source of news is

obviously this beautiful app. True

social. What? No. The Meet Kevin app.

Mind you, remember you're not going to

get all my video notifications. YouTube

will only give you three in like a

almost a two-day period because of the

24-hour overlap. So, you're only going

to get three. You know, we've already

had like and you can kind of customize

which ones you want, but we've already

had many more than that uh through the

Me Kevin app. So, you're not going to

see all the videos unless you're paying

attention to that because we're ramping

up producing more content again because

I'm in the office all day. So, I mean

that that's why, okay, if you're

wondering like Kevin, why is the market

going down today? Well, because we got

nothing on the trade policy from Trump

and just look at Nvidia stock, okay? If

you want to know what's going on in the

market, just look at Nvidia. If it's

red, it's because people are pissed

about the trade policy and Nvidia

doesn't get to export its chips to

China. uh you know and it's down 77

basis points today. Is it a big deal for

a long-term holder currently? No. Q3

maybe because obviously if this stuff

drives us into a recession it's a poopy

dupy. I hope not. Uh here's a an

interesting piece that uh from from the

doomers. I hate these people. That's why

I call them the doomers. Uh new US

tariffs are working as intended. Right?

Wrong. This is the Bloomberg editorial

board. So obviously based on the

headline, they're going to take a big

dump on Trump. Um, okay. So we got that

bias out of the way. Let's get into it.

According to one school of thought,

recent economic data give reasons to

celebrate. US trade deficit narrowed

dramatically in April. Uh, growth will

likely be higher in the second quarter

than the first. Yeah, no crap. We

already talked about that. So are the

administration's new tariffs working?

No. Okay. Huge uncertainty over trade

policy plus efforts to anticipate what's

coming are muddling the pictures until

the fog clears. Surveys of confidence or

other qualitative data may offer a

better guide to underlying developments.

Their messages are discouraging. First,

the supposedly good news after

liberation day about the trade deficit

following was good, but that was spiked

by a trade deficit spike in the first

quarter caused by that. Anticipating

tariffs, people pulled forward demand.

Okay, we already know that old news. At

first sight, the labor market looks

sturdy. Unemployment rate held at 4.2%.

But the unemployment numbers for prior

months were revised downward. True, the

household numbers collapsed and

participation fell. I was almost choking

on a leftover piece of nut skin.

Sorry, I put too many nuts in my mouth.

Uh, the participation rate fell too,

meaning unemployment didn't rise partly

because more people dropped out of the

labor force, right? Which is a problem.

This is where we go to Oh, we should see

the latest 27we uh unemployed chart by

St. Louis Fred. This is where I always

get the comments from people that like

but

you know they just don't count all of

the unemployed people. Uh they do they

just do it in a different way. 27 week

it's actually a nice little drop in the

27we unemployed level. Honestly that's

pretty good. Uh it's actually not that

bad a data. Uh the household number was

still bad. A participation rate was

still bad. But usually the trend of this

going up so we could go to quarterly to

try to smooth this out. the trend of

this rising and then go out to max. The

trend of it rising is concerning. Now,

it's volatile on a monthly basis, right?

So, you could see volatility in the 90s

and it's not until later in the

recession that you get a pretty clear

spike up. But you can see even over here

leading into the 80 recession, you get

some volatility. Early '7s, you get

volatility. Do bubble you get this sort

of volatility, the spiking, the sort of

like teeth over here. And then it

becomes very clearly and consistently up

once you're in recession. So, the

spiking of this data that we're kind of

getting right now is reminiscent of sort

of a pre-recession era where you you

have a clear trend up, but it's still in

a volatile environment. This is really

driven because of the fact that we just

don't have skyrocketing um layoffs yet.

Short-term signals are mixed and they

will stay stay that way a while. I agree

with that. I actually think that's a

fair thing to say. Short-term things are

mixed. The Beige Book gathers

comprehensive data. The newest report

finds elevated levels of uncertainty. Oh

wow, thanks for telling us something

new. Fed respondents said they expected

tariffs to drive up costs. Yeah, they

will for businesses, but not for CPI. It

reported falling demand and orders, the

ISM surveys. The reason is tariffs, very

early days. The admin's trade measures,

including the schedule of reciprocal

tariffs, are currently at pause for

bilateral talks. Well, minus the 10% on

everything. Uh tariffs on steel and

aluminum, fine. If sustainably faster

growth and higher living standards

emerge from the current trade policy

chaos, it will be a miracle. Don't

celebrate just yet. Honestly, kind of

like a fair piece here from the

Bloomberg editorial board. They're not

wrong. They're basically just telling

you like

it could get bad. Be careful. Uh like

oh, here's another one. The bullwhip

effect of trade is going to hurt. Yeah,

but that's from May 6. So this is the

surge of imports won't buffer US

companies from tariffs forever. Higher

prices or squeezed margins are ahead.

This is an old piece from May 6, but

this is still correct and it'll probably

be, you know, June or July where where

you actually end up um you know starting

to see some of the actual impacts.

Tsunami of cargo looks more like a

swell. How old is this? May 20th. Even

if there were a strong surge of

shipments, various parts of the logistic

change are well position positioned to

handle it. That's fine.

Uh front loading will take place but it

won't be a tsunami of good. Shippers

will accelerate peak season. Feared

tsunami turns out to be more of a minor

swell. Fine. In other words, so far

things are good. But the less certainty

we get on this trade policy on a daily

basis, the crappier it is. And so today

we didn't really get anything. Let's see

what South China Morning Post says. US

Treasury Chief slams unreliable China uh

at House hearing on trade policy. So,

this is a Hong Kong based paper. It's

basically Chinese propaganda, although

people like to say because they're based

in Hong Kong that they're not. But

whatever, let's give them let's give

them some credit for just being not a US

source of media.

Bessent trade b slam Beijing for being

unreliable. China currently has the most

unbalanced economy in history. He said

they cannot be allowed to export their

way back to prosperity, not only for

Americans, but for working citizens

around the world.

Uh Bessant said China has proven

unreliable. Treasury Secretary further

sought to project optimism on the deal.

The policy outlined in February would

raise US tariff levels to match its

trading partners, which is untrue by the

way. This is a total lie. Like we are

way going above and beyond the tariffs

that other countries have against us by

by an order of like 10 10x. It's insane.

It's way way way way higher. But that's

okay. Like they let them brand it how

they want. We want to balance trade, you

know, because they're trying to include

like non-monetary tariffs as well in

their sort of balance of this. US China

negotiations in China saw a deal

announced which is subject to China and

approval, whatever. But the vast

majority of Wednesday's often

contentious hearing involved the Trump's

administration's one big beautiful bill.

True. That's also true. That's what I

kind of said earlier in this segment.

Pardon me for being skeptical about the

administration's ability to get any

meaningful dem negotiations done with

China because of what's happened in LA

in the rest. Linda Sanchez was right

about this and we also said it as we

heard it that she's right to say that

like you're right to kind of be

skeptical and it's interesting how

they're pointing out her line right

there kind of smart like maybe they're

watching you know our video here

I got to pat Kevin on the back uh but uh

but I mean it's true so you know what

you could do is I always like doing this

go to what the Chinese embassy is saying

uh and then we'll flip off of this topic

so you go to the Chinese embassy

And let's see if they've said anything.

So maybe not.

Fishing first meeting trade talk

consultation mechanism was held in

London. During talks, two side held

candid and in-depth talks and thoroughly

exchanged views on economic and trade

issues of mutual concerns. Two sides

reached a principled agreement on

implementing the important consensus

reached uh on a phone call on June 5th

and the Geneva consensus. The US side

said the meeting had achieved positive

outcomes and further stabilized

bilateral trade relationships, adding

that the US side would walk in the same

direction as China. Notice how they

didn't say anything about the Chinese

side here.

Oh, here we go. Chinese vice premier.

The two sides should work towards each

other to demonstrate sincerity

uh continue maintaining communication,

promote steady and sustained growth in

the relationship. So, China is not

bagging on this, but I feel like if you

read between the lines on this, it's

kind of like, all right, this was a

little BS. Like, so we got Chinese

students back in US universities and we

got some jet engines from GE. Like, all

right, big deal.

We'll give them some exports on rare

earths, but this is a very, very limited

scope deal. So, in case you're wondering

why uh markets are, you know, less than

enthusiastic right now, Nvidia, by the

way, now dropping to 1.17%. Here's why.

How convenient that it's happening

during my video. This is where people

are like, "Kevin, you always a bear when

things are red." No, man. Kevin makes a

video and then things turn red. Can we

get an ego check out here? Why not

advertise these things that you told us

here? I feel like nobody else knows

about this. We'll we'll try a little

advertising and see how it goes.

Congratulations, man. You have done so

much. People love you. People look up to

you. Kevin Praath there, financial

analyst and YouTuber. Meet Kevin. Always

great to get your take.