☠ No One Is Going To Win This Trade War Between The U.S. and China

In today’s newsletter I share my thoughts that no one is going to win a trade war between the U.S. and China, Prada acquires Italian luxury fashion house Versace, they’re making a sequel to Quentin Tarantino's “Once Upon a Time in Hollywood”, Kawasaki is making a four-legged robot wolf named Corleo that you can ride, the U.S. treasury may introduce "BitBonds" which are Bitcoin-enhanced Treasury bonds, and basketball legend LeBron James is getting his own version of the Barbie doll Ken (albeit a lot taller than usual) as a part of Matell’s "Kenbassador" series. 

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☠ No One Is Going To Win This Trade War Between The U.S. and China

The escalating trade war between the United States and China has reached a critical juncture, with both nations imposing unprecedented tariff levels that threaten to severely disrupt global commerce. The Trump administration has clarified that U.S. tariffs on Chinese imports have now risen to a staggering 145%. This substantial increase aims to address trade imbalances and other economic concerns. China in response has implemented retaliatory tariffs of 125% on all U.S. goods imported into the country.

This childish tit-for-tat escalation has effectively created a trade barrier, significantly preventing the flow of goods between the world's two largest economies. Chinese President Xi Jinping has publicly stated that China is "not afraid" of a trade war with the United States. Xi emphasized his nation's resolve to defend its economic interests and has asserted that there are "no winners in a trade war." 

I’m not sure the Trump administration has thought these tariffs on China through, but it definitely sounds like China is prepared to endure the economic consequences of the tariffs without blinking. As we just saw this week, the Trump administration just blinked.

The high tariffs are expected to lead to increased prices for consumers in both countries. (read: everyone loses). In fact, BlackRock’s Larry Fink thinks the U.S. might be very close to a recession if we’re not already in one now.

Retailers, including major players like Amazon have warned of price hikes on various goods, including electronics like iPhones. The secondhand retail market may see a surge in activity as consumers seek more affordable alternatives, and the trade war is inducing major disruptions to global supply chains. The sheer percentage of the skyhigh tariffs, with the U.S. at 145% and China at 125%, creates a situation where the cost of trade becomes prohibitively high (essentially impossible to justify making purchases), which will have a major effect on the global economy. The trade values between the U.S. and China, in 2024 was $585 billion dollars, have now been put in jeopardy.

Consumers can expect to see higher prices on a wide range of goods, from electronics to everyday household items. Businesses that rely on trade with China or the U.S. will face significant challenges, potentially leading to job losses and economic instability. The rise in tariffs will heavily change the dynamics of the current global economy. In summary, the current trade war between the United States and China has created a situation that is economically dangerous for the world. One might say that this trade situation is so bad, that you could sell ice to an eskimo right now.

👠 Business

Prada is acquiring the Italian luxury fashion house Versace from Capri Holdings, the multinational fashion holding company that also owns luxury brands Michael Kors and Jimmy Choo, in a deal valued at $1.375 billion dollars.

The fashion house Versace was founded in 1978 by Gianni Versace in Milan, Italy. Donatella Versace took over the fashion house when Gianni Versace was murdered on July 15, 1997 outside his Miami Beach home.

Prada has revenue of $5.7 billion dollars, up 15% year-over-year in 2024. Prada owns a number of fashion brands including Miu Miu, Church’s, Car Shoe, Marchesi 1824 and Luna Rossa.

Prada’s acquisition of Versace can be seen as a way for them to better compete with industry giant LVMH as the global slowdown begins to affect the luxury market.

I’m imagining future Versace ad campaigns that’ll involve lots of avant-garde celebrity models wearing clashing leopard prints and colorful handbags (that’s a fashion reference for those in the know).

🎬 Entertainment

It sounds like there’s going to be a continuation of Quentin Tarantino's “Once Upon a Time in Hollywood” with Brad Pitt set to reprise his role and David Fincher taking on directorial duties from a script penned by the man himself, Quentin Tarantino.

The original 2019 film, which starred Brad Pitt alongside Leonardo DiCaprio and Margot Robbie, grossed over $392 million dollars worldwide on a budget of between $90–96 million.

This isn’t exactly a sequel, but rather is being described as being "derivative", meaning it’ll take inspiration from the original and not necessarily be a continuation. Whatever that means.

Since Netflix is reportedly footing the bill for the production, there’s a good chance this "sequel" or "derivative" will have a budget in the hundreds of millions of dollars, so expect to hear a lot of other A-list actors joining the roster.

My only hope is this movie can live up to the hype, and doesn't end up being just another throwaway movie that Hollywood milked for all it's worth.

🐺 Tech

Inspired by the agility of wolves, Kawasaki, best known for their diverse range of products, including motorcycles, ATVs, personal watercraft, has unveiled a hydrogen-powered, rideable four-legged robot named Corleo that is designed to traverse uneven terrain with ease.

All I can say is WoW! I’ve literally dreamed of this moment since I was a child.

Kawasaki’s futuristic concept was showcased at the Osaka-Kansai Expo 2025 show, and utilizes a 150cc hydrogen engine to power its AI-controlled robotic legs, which respond to a rider's body movements for navigation. It’s not much of a stretch to image in the near future these vehicles being controlled by a person’s thoughts alone, via something like Elon Musk’s Neuralink.

🪙 Crypto

"BitBonds" refers to a new concept of Bitcoin-enhanced Treasury bonds, and is a novel financial instrument proposed to address the substantial national debt. Just how would this work? The U.S. government would issue bonds where 90% of the capital raised would go to traditional government funding, with the remaining 10% being allocated to acquiring Bitcoin to be added to the Strategic Bitcoin Reserve.

If Bitcoin-enhanced Treasury bonds take off, it could signal a major shift in how nations perceive and utilize cryptocurrencies on a sovereign level. Then it wouldn’t just be the techies that are into Bitcoin, but rather the technocrats.

🏀 Sports

Basketball legend LeBron James has made history as the first professional male athlete to be immortalized as a Ken doll, of Barbie fame, in an announcement by Mattel as part of their new "Kenbassador" series.

The collectible doll, which comes with a hefty $75 price tag, is taller than the standard Ken to reflect LeBron James' height and features details like a varsity jacket, Nike sneakers, and apparel nodding to his Ohio roots.

Mattel is also donating a copy of LeBron James' book "I Am More Than" for every doll sold at Target between April 14-19 in addition to a donation it is making to his foundation.

I guess you could say LeBron James’ legacy is now cemented in plastic.

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irl Media NEWSLETTER is written, edited, and published by Chris Thompson.