00:00President Trump is expected to meet President Xi at a summit in Beijing at the end of March.
00:04How does the Supreme Court ruling change the balance of power at the negotiating table when they meet?
00:11I think, yeah, this could be the sort of the first test, if you like, a real test of how
00:15the Supreme Court sort of changes some of these deals.
00:19One of the big deliverables, they were meant to extend the trade truths they have.
00:23And that's predicated, you know, China will keep supplying rare earths if America doesn't raise tariffs, if it keeps the
00:31tariffs down.
00:32Well, the tariffs are gone.
00:33So if you're China, you know, maybe you ask something extra now to keep up your half of the deal.
00:40The only reason they were buying the soybeans from the U.S. was, again, to get the tariffs down.
00:45Well, if the tariffs are not there anymore, it just gives Xi an opening to say, if I'm going to
00:50keep doing this for you, what are you going to do for me?
00:53And maybe Trump's answer to that is, we'll go easy on you when it comes to some of these other
00:58sort of sectoral tariffs.
01:00But even if that is the answer, that's a win for Xi, because before he didn't have that leverage, he
01:05would have had to find something different.
01:07So it will be interesting to see sort of how strongly the Chinese pay their hand.
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