Noteworthy News

[Thumpalumpacus]

Short version: Trump lost and caved.

Boru

To your point:

China has sent back planes it ordered from the US in its latest retaliation over Trump tariffs, the boss of aircraft maker Boeing has said.

Kelly Ortberg said two planes had already been returned and another would follow after trade tensions between the two countries escalated.

Boeing's chief executive told CNBC that 50 more planes were due to go to China this year but their customers had indicated they will not take delivery of them.

The US put 145% tariffs on imports from China and it hit back with a 125% tax on US products.

Speaking in the Oval Office on Tuesday, Trump said he was optimistic about improving trade relations with China, saying the level of tariffs he had imposed would "come down substantially, but it won't be zero".

However, Mr Ortberg said China "have in fact stopped taking delivery of aircraft because of tariff environment".

Boeing is America's largest exporter with about 70% of its commercial aircraft sales outside of the US.

Mr Ortberg said Boeing was assessing options to re-market 41 of the already built planes to other customers as there was high demand from other airlines.

He said there were nine planes not yet in Boeing's production system and he wanted to "understand their intentions and if necessary we can assign to other customers".

He added Boeing was "not going continue to build aircraft for customers who will not take them".

Later in the afternoon, Mr Ortberg told an investor call "there is not a day that goes by that we're not engaged with either cabinet secretaries or either POTUS himself (President Trump) regarding the trade war between China and the USA."

He added he was "very hopeful we'll get to some negotiations".

https://www.bbc.com/news/articles/c3evw059x04o

Caving to both Chinese and domestic pressure, clearly.

Oh, and speaking of caving:

Tesla boss Elon Musk has pledged to "significantly" cut back his role in the US government after the electric car firm reported a huge drop in profit and sales for the start of this year.

Musk has led the newly created advisory body - the Department for Government Efficiency (Doge) - since last year, putting the world's richest man at the heart of cutting US spending and jobs.

But Musk said his "time allocation to Doge" would "drop significantly" from next month, adding he would spend only one to two days per week on it after accusations he has taken his focus off Tesla.

His political involvement has sparked protests and boycotts of Tesla cars around the world.

Temporary government employees, such as Musk, are normally limited to working 130 days a year which, if counted from the day of President Donald Trump's inauguration, is set to expire late next month.

But it is unclear when Musk, who contributed more than a quarter of a billion dollars to Trump's re-election, will step down completely.

Trump said earlier this month he would keep Musk "as long as I could keep him".

Trump said earlier this month he would keep Musk "as long as I could keep him".

https://www.bbc.com/news/articles/cy0x50yr46lo

This is how we will have to limit these cretins -- hit them in the wallet. I cannot reprint the VsLY sales chart in the article, but Tesla shares have lost about 50% in value since Musk started working for Trump in January.