Trump is Already Backtracking on Migrant Labor as China Stands Firm on Trade War
Even before Trump took office and promised his MAGA base that he was going to deport the 10-15 million migrants here in the U.S. illegally, I pointed out how that was a lie and it would be impossible, as our economy is so dependent upon this labor, and especially now that Trump wants to start new manufacturing plants. So it was no surprise to me when I saw that he was already backtracking on this issue today, with pressure no doubt from the agricultural businesses and others who cannot survive without these migrants. And as has been previously reported, Trump has so far deported fewer migrants than Biden did last year in the first quarter. BlackRock Inc. Chief Executive Officer Larry Fink said today that he was caught by surprise at the breadth of President Donald Trump’s tariffs last week on many countries, including key US trading partners. “The sweeping US tariff announcements went beyond anything I could have imagined in my 49 years in finance,” Fink said on a call on Friday with analysts after the company reported first-quarter financial results. And there is no sign that China is wavering on tariffs, as this was a headline today in the Asia Times: "Asia’s central banks hold and can dump $3 trillion worth of US Treasuries, leverage that could ultimately put the Tariff Man in line." More news from today, April 11, 2025.