The President's Daily Brief - PDB Afternoon Bulletin | November 26th, 2024: Trump's Tariff Threats & Baltic Plane Crash Sparks Sabotage Speculations

Episode Date: November 26, 2024

In this episode of The PDB Afternoon Bulletin:   First, President-elect Donald Trump declared his plans to enact sweeping new tariffs on Mexico, Canada and China the day he takes office. We’ll discuss the implications of this looming trade war, and how global leaders are reacting to the news. Then, we turn to the Baltic, where a recent cargo plane crash in Lithuania is being investigated as a potential act of sabotage or “hybrid warfare.” To listen to the show ad-free, become a premium member of The President’s Daily Brief by visiting PDBPremium.com. Please remember to subscribe if you enjoyed this episode of The President's Daily Brief. YouTube: youtube.com/@presidentsdailybrief Blackout Coffee: https://www.blackoutcoffee.com/PDB Learn more about your ad choices. Visit megaphone.fm/adchoices

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So you can spend less time tackling dishes and more time together. Shop now at palmolive.com. your day off with a delicious cup or two or even three of Blackout Coffee. Blackout Coffee is a terrific American family-owned business and they are totally focused on producing premium coffee, fresh roasted and shipped out within 48 hours of roasting. Hmm, think about that. Go to blackout coffee.com promo code PDB for 20% off your first time purchase. It's Tuesday, 26th November. Welcome to the PDB afternoon bulletin. I'm Mike Baker. Your eyes and ears. on the world stage. Let's get briefed. First, President-elect Donald Trump declared his plans to

enact sweeping new tariffs on Mexico, Canada, and China the day that he takes office. We'll discuss the implications of this potential looming trade war and how global leaders are reacting to the news. Then we turn to the Baltic, where a recent cargo plane crash in Lithuania is being investigated as a potential act of sabotage or hybrid warfare. But first, our afternoon spotlight. President-elect Donald Trump declared his intent Monday to slap Mexico, Canada, and China with steep tariffs after taking the oath of office on 20 January. That's a threat that would make good on one of his key campaign promises that helped propel him to victory in the recent election. Trump's first targets are Mexico and Canada, and what he argues are imbalances

in the North American Free Trade Pact. On day one in office, Trump said he will impose a 20 25% tariff on all products entering the country from America's northern and southern neighbors, who he blamed for facilitating illegal immigration and fentanyl abuse in the U.S., according to a report from the Wall Street Journal. Talking on truth social Monday evening, Trump said, quote, both Mexico and Canada have the absolute right and power to easily solve this long-simmering problem. We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price, end quote. Separately, Trump announced plans to hit China with a 10% tariff on imports,

also citing their failure to regulate chemicals fueling the international production of deadly fentanyl. Trump said that he has, quote, had many talks with China about the massive amount of drugs, in particular fentanyl, being sent into the United States, but to no avail. He continued, quote, until such time as they stop, we will be charging China an additional 10% tariff, above any additional tariffs on all their many products." Now, given how early in his transition Trump announced these plans, the major question is whether the tariff threats are a negotiating tactic to force concessions from our trade partners before he assumes office in January, or whether they signal the beginning of a larger effort

by Trump to rewrite the terms of global commerce. Michael Hart, the president of the American Chamber of Commerce in China, told the Wall Street journal, quote, a lot of people expect Trump to be a negotiator, so I think this is a beginning of discussions or beginning of negotiations, end quote. Regardless, the news has left foreign leaders and business titans rattled. It's worth noting that the U.S. is the largest importer of foreign goods, with China, Mexico, and Canada making up the U.S.'s top three global suppliers. As the tariffs would cover roughly 40 percent of all U.S. trade, economists are concerned that if, if, if, if you're implemented, they could significantly raise the price of consumer goods, of course, at a time

when Americans are still grappling with inflation and high interest rates. Leaders in China, well, here's a surprise, did not take kindly to the threat, warning Trump Monday evening that, quote, no one will win a trade war or a tariff war, alluding to the U.S. and China's mutual economic dependence. China's foreign ministry went as far as to say the U.S. should, quote, cherish China's goodwill when it comes to joint counter-narcotics cooperation. Huh. Well, how about this? At the point where the Chinese regime under Xi Jinping actually demonstrates something resembling goodwill, well, then at that point in time, the U.S. could start cherishing it. Turning south of the border,

Mexican President Claudia Scheinbaum responded far more aggressively, suggesting on Tuesday that Mexico could retaliate against the U.S. with their own tariffs. She warned, however, that nobody stood to benefit from such a trade war, and that it could have a particularly devastating effect on U.S. automakers who have plants in Mexico. Shinebom said she was willing to engage on things like tighter immigration controls, the issue of illicit narcotics, she said, is driven by American demand and is the U.S.'s own problem to solve. Huh.

To be fair, it's actually harder to solve that problem when the Mexican government's approach typically has been to coddle the cartels, or at least to manage the cartel problem in order to avoid violence. After all, it was Shinebaum's mentor, former President Amlo, who adopted the Hugs Not Bullets strategy of dealing with the drug cartels. And that worked out well for a variety of folks as the cartel revenues soared. The Canadian response, meanwhile, has been much more muted. Canadian Prime Minister Justin Trudeau, fresh from his attendance at a Taylor Swift concert, said Tuesday that he spoke with Trump over the phone shortly after his posts on truth social, describing it as a, quote, good call and vowing to work with Trump rapidly

to find solutions. Now, whether or not the tariff threats are a negotiating tool remains to be seen, but the world appears to be bracing for the worst. The Canadian dollar, the Mexican peso, and the Chinese Jun all fell sharply against the U.S. dollar following the news, and in stock prices, while they fell across global markets, suggesting widespread fear that a new trade war is imminent. Coming up, we'll turn to the Baltic, where a recent cargo plane crash in Lithuania is being investigated as a potential act of hybrid warfare. I'll be right back. This episode is brought to you by Planet Oat Oak Milk. Some people like their coffee hot, some like it ice cold, but everyone can agree Planet Oat is made for every cup,

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With agents who close twice as many deals, when you find the one, you've got a real shot at getting it. Get started at redfin.com. Own the dream. Welcome back to the afternoon bulletin. A deadly cargo plane crash near Vilnius Airport in Lithuania on Monday has sparked fears that Russia is escalating their hybrid warfare against Europe, as investigators probe whether the incident was an accident were part of a broader campaign to destabilize NATO countries. The DHS cargo plane, en route from Germany, crashed short of the runway, skidding for several hundred yards before narrowly missing a residential home, setting off a massive fireball. The crash killed one crew member and injured three others on board, while 12 people in the home were safely evacuated. Lithuanian authorities

supported by German investigators are currently probing the cause of the crash. A Lithuanian police chief labeled the crash as, quote, most likely due to a technical fault or human error, but added that terrorism and sabotage, quote, cannot be ruled out. Lithuania's counterintelligence chief echoed these concerns emphasizing that while no evidence currently points to terrorism, it remains a possibility under investigation. German Chancellor Olaf Schultz, speaking to a German public service television broadcaster, noted that the possibility of hybrid warfare could not be dismissed, saying, quote, we are looking at this closely. We can't say at the moment, but it could be so. There are very many

bad forms of hybrid warfare that we are seeing in Germany, end quote. Similarly, according to Reuters, Germany's foreign minister, speaking at a G7 summit, drew attention to Russia's pattern of destabilization through methods such as propaganda, GPS signal disruptions, and sabotage of undersea cables, as we've been tracking here on the PDB. Adding to suspicions, the crash follows incidents in July involving DHL logistics centers in Europe. In one case, an incendiary device shipped from Lithuania caused a fire at a DHL facility in Germany. In another, British authorities investigated a parcel bomb explosion at a D.H.L. Depot in Birmingham. Earlier this month, the Wall Street Journal reported Western

Intelligence attributed both events to covert Russian operations designed to ignite fires aboard passenger and cargo planes on route to the U.S. and Canada. While Lithuanian officials maintain that no evidence currently supports sabotage, well, the timing of the crash has heightened concerns about Europe's vulnerability to hybrid threats. The ongoing investigation, supported by the U.S. National Transportation Safety Board, Boeing, and also the Federal Aviation Administration, aims to determine whether the tragedy was a standalone accident or, in fact, part of a sabotage campaign. And that, my friends, is the PDB afternoon bulletin for Tuesday, 26 November. Now, if you have any questions or comments for me, please reach out at pdb at thefirsttv.com.

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