[Text/Observer Network Xiong Chaoyi] A month ago, Treasury Secretary Bethune's remarks looking down on the textile industry were heavily criticized. Now, President Trump is bringing up the same old tune again.

According to a Reuters report on May 25, before boarding Air Force One from New Jersey back to Washington, Trump said that his tariff policies were aimed at promoting domestic manufacturing of tanks, warships, and technology products, rather than consumer goods like sneakers and T-shirts. He agreed with Treasury Secretary Bethune's view that sparked criticism from the National Council of Textile Organizations (NCTO), stating that the U.S. does not necessarily need a thriving textile industry.

"We are not going to produce sneakers and T-shirts; we want to manufacture military equipment. We want to do big things. We want to develop computer technologies such as artificial intelligence (AI)," Trump said. "Honestly, I don't want to make T-shirts or socks. We can do well in other areas. We want to make chips, computers, and many other things, along with tanks and warships."

On May 25, Trump was interviewed before boarding Air Force One. NPR

On April 29, Bethune stated during a White House briefing that the U.S. needs precision manufacturing, while the textile industry has become outdated. This remark immediately drew criticism from the American textile industry organization, which sent a letter to Bethune expressing their disappointment with his comments.

Reportedly, Bethune mentioned during the meeting that Trump's ambition to stimulate domestic manufacturing focused on "future jobs" rather than "past jobs."

"Where I grew up, we don't necessarily need to revitalize the textile industry, but we definitely want to revive precision manufacturing and bring it back," Bethune said.

Late that evening, NCTO expressed dissatisfaction and emphasized that they have always supported the Trump administration's trade agenda, including the broad tariff measures announced this month. The organization highlighted that the U.S. textile industry produces more than 8,000 different products for the military and last year employed over 470,000 workers.

"Our industry personnel are deeply disheartened by your remarks, especially since President Trump himself has repeatedly emphasized the strategic importance of our industry," Kimberly Glas, chair of the NCTO council, wrote in the letter.

Reuters pointed out that since Trump returned to power, his extensive tariff policies have disrupted global market patterns. On May 25, he once again made strongly worded, trade-related comments, suggesting a 50% tariff on EU imports starting June 1 and threatening Apple by saying the company would face at least a 25% tariff unless iPhones were produced in the U.S.

Following Trump's threats, the three major U.S. stock futures fell simultaneously. Dow Jones Industrial Average futures dropped 1.54%, S&P 500 index futures fell 1.61%, and Nasdaq futures fell 1.98%. Notably, shares of the U.S. tech giant Apple dropped nearly 4% in pre-market trading. Additionally, major European stock indices fell across the board, with Germany's DAX index down 2.87%, France's CAC 40 index down 3.03%, and the UK's FTSE 100 index down 1.42%.

On May 25, European Commission President Ursula von der Leyen issued a statement indicating that the EU is prepared to "quickly and decisively" advance trade negotiations with the U.S., provided Trump returns to the initial 90-day negotiation period (the deferral period for reciprocal tariffs). She mentioned that she had an "agreeable conversation" with President Trump, and the Financial Times reported that an official from her office confirmed that the call was initiated by her.

Later that day, Trump also posted on his self-created social media platform, Truth Social, confirming his call with von der Leyen, agreeing to delay the threat of a 50% tariff on the EU, and extending the trade talks between the U.S. and the EU to July 9.

The Financial Times noted that this is the first publicly disclosed phone call between leaders of the U.S. and the EU since Trump took office. Two days prior, Trump had threatened to impose a 50% tariff on EU imports starting June 1 due to "unsatisfactory" negotiations with the EU.

After Trump announced the 50% tariff increase, the EU previously emphasized that trade must be guided by mutual respect, not threats. With von der Leyen's latest statement, reports suggest that the EU Commission's stance may shift toward seeking compromise.

Previously, the EU had approved a 21 billion euro tariff on U.S. imports, but suspended implementation after the Trump administration announced a 90-day suspension of additional tariffs. The EU also warned that if negotiations with the U.S. fail, it will consider imposing tariff measures on a second batch of goods worth up to 95 billion euros.

This article is an exclusive contribution by the Observer Network and cannot be reprinted without permission.

Original source: https://www.toutiao.com/article/7508635069377020416/

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