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Trump says tariffs on China will remain until trade imbalance is corrected

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President Trump said Sunday he won’t make a tariff deal with China unless its $1 trillion trade surplus with the U.S. is balanced. Speaking aboard Air Force One, he called the deficit “not sustainable” and said tariffs are already driving a wave of investment back to America.

Key Details:

  • Trump told reporters the U.S. has “a $1 trillion trade deficit with China,” adding, “hundreds of billions of dollars a year we lose to China, and unless we solve that problem, I’m not going to make a deal.” He insisted any agreement must begin with fixing that imbalance.

  • The president said tariffs are generating “levels that we’ve never seen before” of private investment, claiming $7 trillion has already been committed in areas like auto manufacturing and chip production, with companies returning to places like North Carolina, Detroit, and Illinois.

  • On Truth Social Sunday night, Trump wrote: “The only way this problem can be cured is with TARIFFS… a beautiful thing to behold.” He accused President Biden of allowing trade surpluses to grow and pledged, “We are going to reverse it, and reverse it QUICKLY.”

Diving Deeper:

President Donald Trump reaffirmed his tough trade stance on Sunday, telling reporters that he won’t negotiate any new deal with China unless the massive trade deficit is addressed. “We have a $1 trillion trade deficit with China. Hundreds of billions of dollars a year we lose to China, and unless we solve that problem, I’m not going to make a deal,” Trump said while aboard Air Force One.

He emphasized that while some countries have deficits in the billions, China’s trade advantage over the U.S. exceeds a trillion dollars and remains the most severe. “We have a tremendous deficit problem with China… I want that solved,” he said. “A deficit is a loss. We’re going to have surpluses, or we’re, at worst, going to be breaking even.”

Trump touted the impact of tariffs already in place, pointing to an estimated $7 trillion in committed investments flowing into the U.S. economy. He highlighted growth in the automotive and semiconductor sectors in particular, and said companies are now bringing operations back to American soil—citing North Carolina, Detroit, and Illinois as examples.

He also claimed world leaders in Europe and Asia are eager to strike deals with the U.S., but he’s holding firm. “They’re dying to make a deal,” he said, “but as long as there are deficits, I’m not going to do that.”

Trump projected that tariffs would add another $1 trillion to federal revenues by next year and help re-establish the U.S. as the world’s top economic power. “Our country has gotten a lot stronger,” Trump said. “Eventually it’ll be a country like no other… the most dominant country, economically, in the world, which is what it should be.”

Later Sunday night, Trump doubled down in a Truth Social post, writing, “We have massive Financial Deficits with China, the European Union, and many others. The only way this problem can be cured is with TARIFFS, which are now bringing Tens of Billions of Dollars into the U.S.A.” He added that trade surpluses have grown under Joe Biden and vowed to reverse them “QUICKLY.”

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Trump demands free passage for American ships through Panama, Suez

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Quick Hit:

President Donald Trump is pushing for U.S. ships to transit the Panama and Suez canals without paying tolls, arguing the waterways would not exist without America.

Key Details:

  • In a Saturday Truth Social post, Trump said, “American Ships, both Military and Commercial, should be allowed to travel, free of charge, through the Panama and Suez Canals! Those Canals would not exist without the United States of America.”

  • Trump directed Secretary of State Marco Rubio to “immediately take care of, and memorialize” the issue, signaling a potential new diplomatic initiative with Panama and Egypt.

  • The Panama Canal generated about $3.3 billion in toll revenue in fiscal 2023, while the Suez Canal posted a record $9.4 billion. U.S. vessels account for roughly 70% of Panama Canal traffic, according to government figures.

Diving Deeper:

President Donald Trump is pressing for American ships to receive free passage through two of the world’s most critical shipping lanes—the Panama and Suez canals—a move he argues would recognize the United States’ historic role in making both waterways possible. In a post shared Saturday on Truth Social, Trump wrote, “American Ships, both Military and Commercial, should be allowed to travel, free of charge, through the Panama and Suez Canals! Those Canals would not exist without the United States of America.”

Trump added that he has instructed Secretary of State Marco Rubio to “immediately take care of, and memorialize” the situation. His comments, first reported by FactSet, come as U.S. companies face rising shipping costs, with tolls for major vessels ranging from $200,000 to over $500,000 per Panama Canal crossing, based on canal authority schedules.

The Suez Canal, operated by Egypt, reportedly saw record revenues of $9.4 billion in 2023, largely driven by American and European shipping amid ongoing Red Sea instability. After a surge in attacks by Houthi militants on commercial ships earlier this year, Trump authorized a sustained military campaign targeting missile and drone sites in northern Yemen. The Pentagon said the strikes were part of an effort to “permanently restore freedom of navigation” for global shipping near the Suez Canal.

Trump has framed the military operations as part of a broader strategy to counter Iranian-backed destabilization efforts across the Middle East.

Meanwhile, in Central America, Trump’s administration is working to counter Chinese influence near the Panama Canal. On April 9th, Defense Secretary Pete Hegseth announced an expanded partnership with Panama to bolster canal security, including a memorandum of understanding allowing U.S. warships and support vessels to move “first and free” through the canal. “The Panama Canal is key terrain that must be secured by Panama, with America, and not China,” Hegseth emphasized during a press conference in Panama City.

American commercial shipping has long depended on the canal, which reduces the shipping route between the U.S. East Coast and Asia by nearly 8,000 miles. About 40% of all U.S. container traffic uses the Panama Canal annually, according to the U.S. Maritime Administration.

The United States originally constructed and controlled the Panama Canal following a monumental effort championed by President Theodore Roosevelt in the early 20th century. After backing Panama’s independence from Colombia in 1903, the U.S. secured the rights to build and operate the canal, which opened in 1914. Although U.S. control ended in 1999 under the Torrijos-Carter Treaties, the canal remains vital to U.S. trade.

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2025 Federal Election

Columnist warns Carney Liberals will consider a home equity tax on primary residences

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From LifeSiteNews

By Steve Jalsevac

The Liberals paid a group called Generation Squeeze, led by activist Paul Kershaw, to study how the government could tap into Canadians’ home equity — including their primary residences.

Winnipeg Sun Columnist Kevin Klein is sounding the alarm there is substantial evidence the Carney Liberal Party is considering implementing a home equity tax on Canadians’ primary residences as a potential huge source of funds to bring down the massive national debt their spending created.

Klein wrote in his April 23 column and stated in his accompanying video presentation:

The Canada Mortgage and Housing Corporation (CMHC) — a federal Crown corporation — has investigated the possibility of a home equity tax on more than one occasion, using taxpayer dollars to fund that research. This was not backroom speculation. It was real, documented work.

The Liberals paid a group called Generation Squeeze, led by activist Paul Kershaw, to study how the government could tap into Canadians’ home equity — including their primary residences.

Kershaw, by the way, believes homeowners are “lottery winners” who didn’t earn their wealth but lucked into it. That’s the ideology being advanced to the highest levels of government.

It didn’t stop there. These proposals were presented directly to federal cabinet ministers. That’s on record, and most of those same ministers are now part of Mark Carney’s team as he positions himself as the Liberals’ next leader.

Watch below Klein’s 7-minute, impassionate warning to Canadians about this looming major new tax should the Liberals win Monday’s election.

Klein further adds:

The total home equity held by Canadians is over $4.7 trillion. It’s the largest pool of private wealth in the country. For millions of Canadians — especially baby boomers — it’s the only retirement fund they have. They don’t have big pensions. They have a paid-off house and a hope that it will carry them through their later years. Yet, that’s what Ottawa has quietly been circling.

The Canadian Taxpayer’s Federation has researched this issue and published a report on the alarming amount of new taxation a homeowner equity tax could cost Canadians who sell their homes that have increased in value over the years they have lived in it. It is a shocker!

A Google search on the question, “what is a home equity tax?” returns the response:

A home equity tax, simply put, it’s a proposed levy on the increased value of your home, specifically, on your principal residence. The idea is for Government to raise money by taxing wealth accumulation from rising property values.

The Canadian Taxpayers Federation has provided a Home Equity Tax Calculator Backgrounder to help Canadians understand what the impact of three different types of Home Equity Tax Calculators would have on home owners. The required tax payment resulting from all three is a shocker.

Keep in mind that World Economic Forum policies intend to eventually eliminate all private home ownership and have the state own and control not only all residences, but also eliminate car ownership, and control when and where you may live and travel.

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Steve is the co-founder and managing director of LifeSiteNews.com.
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