China denounces Trump tariff: 'Fentanyl is America's problem'

 China's government on Sunday denounced the Trump administration's imposition of a long-threatened 10 percent tariff on Chinese imports while leaving the door open for talks with the US that could avoid a deepening conflict.

Beijing will challenge President Donald Trump's tariff at the World Trade Organization and take unspecified "countermeasures" in response to the levy, which takes effect on Tuesday (Wednesday NZT), the finance and commerce ministries said.

The response stopped short of the immediate escalation that had marked China's trade showdown with Trump in his first term as president and repeated the more measured language Beijing has used in recent weeks.

Trump on Saturday ordered 25 percent tariffs on Canadian and Mexican imports and 10 percent on goods from China, saying Beijing needed to stanch the flow of fentanyl, a deadly opioid, into the United States.

China's commerce ministry said in a statement that Trump's move "seriously violates" international trade rules, urging the US to "engage in frank dialogue and strengthen cooperation".

Filing a lawsuit with the WTO would be a largely symbolic move that Beijing has also taken against tariffs on Chinese-made electric vehicles by the European Union.

For weeks Chinese Foreign Ministry spokesperson Mao Ning has said Beijing believes there is no winner in a trade war.

China's sharpest pushback on Sunday was over fentanyl, an area where the administration of Trump's predecessor, Joe Biden, had also been urging Beijing to crack down on shipments of the China-made precursor chemicals needed to manufacture the drug.

"Fentanyl is America's problem," China's foreign ministry said. "The Chinese side has carried out extensive anti-narcotics cooperation with the United States and achieved remarkable results."

https://www.rnz.co.nz/news/world/540666/china-denounces-trump-tariff-fentanyl-is-america-s-problem

Widely Used Chinese-Made Health Monitor Using 'Backdoor' To Send Patient Data To Chinese IP Address

 They've hacked everything else in the U.S., so why would we be surprised to find out that patient health data collected by Chinese-made health monitors was being sent, via 'backdoor' to China. 

Now China has access to Janet Yellen's photos (god we hope there's no nudes) and your blood pressure on a random Tuesday. 

The U.S. Cybersecurity and Infrastructure Security Agency (CISA) warns that Contec CMS8000, a widely used patient monitoring device, contains a backdoor that transmits patient data to a remote IP and downloads executable files, according to BleepingComputer.

Contec, a China-based healthcare tech company, produces various medical devices. CISA was alerted by an external researcher and, after testing the device’s firmware, found unusual network traffic linking to a hard-coded external IP tied to a university, not the company.

CISA discovered a backdoor in Contec CMS8000 firmware, enabling remote execution and full control of patient monitors. The device also secretly transmits patient data to a hard-coded IP upon startup, with no logs to alert administrators.

Though CISA withheld details, BleepingComputer linked the IP to a Chinese university, and the same address appears in other medical devices, including a pregnancy monitor. The FDA confirmed the backdoor also exists in Epsimed MN-120 monitors, rebranded versions of Contec CMS8000.

The BleepingComputer report says:

On analyzing the firmware, CISA found that one of the device's executables, 'monitor,' contains a backdoor that issues a series of Linux commands that enable the device's network adapter (eth0) and then attempts to mount a remote NFS share at the hard-coded IP address belonging to the university.

The NFS share is mounted at /mnt/ and the backdoor recursively copies the files from the /mnt/ folder to the /opt/bin folder.

The backdoor will continue to copy files from /opt/bin to the /opt folder and, when done, unmount the remote NFS share.

"Though the /opt/bin directory is not part of default Linux installations, it is nonetheless a common Linux directory structure," explains CISA's advisory.

CISA warned: "Generally, Linux stores third-party software installations in the /opt directory and thirdparty binaries in the /opt/bin directory. The ability to overwrite files within the /opt/bin directory provides a powerful primitive for remotely taking over the device and remotely altering the device configuration."

"Additionally, the use of symbolic links could provide a primitive to overwrite files anywhere on the device filesystem. When executed, this function offers a formidable primitive allowing for a third-party operating at the hard-coded IP address to potentially take full control of the device remotely."

You can read more of the technicals on the backdoor here. Oh, and go ahead and keep plugging your personal data into Deepseek, we're sure that's just fine. 

https://www.zerohedge.com/markets/widely-used-chinese-made-health-monitor-using-backdoor-send-patient-data-chinese-ip-address

Power-boosting project for US grid to miss July deadline

U.S. grid operators are asking regulators for more time to meet a federal order to upgrade existing transmission lines with equipment that can boost their capacity up to 40%, according to a Reuters review of regulatory documents.

The delays represent a potentially years-long setback for efforts to reinforce the nation’s rickety power infrastructure, at a time newly sworn-in President Donald Trump has declared a national energy emergency over soaring U.S. electricity demand from data centers.

The Federal Energy Regulatory Commission in late 2021 had ordered all six major regional grid operators outside of Texas to establish systems that regularly update the capacity ratings on transmission lines, based on weather conditions, by a deadline of July 2025.

High-voltage transmission lines currently rely mainly on static settings that do not factor in real-time temperature drops or cooling breezes that could boost their capacity, meaning less power is often delivered than could be.

Meeting the FERC order requires technology that factors in hourly power line temperatures.

All six regional grid operators, however, have indicated they will not meet the July deadline, according to the Reuters survey.

Some, including the Midcontinent Independent System Operator (MISO), which oversees the wholesale electricity market in 15 states, cited a lack of available software vendors needed to accomplish the work.

MISO told Reuters on Thursday it plans to file a deadline extension with FERC in March, but has not determined how long of an extension it would need.

California's CAISO, whose members are now embroiled in probes and lawsuits relating to devastating wildfires in Los Angeles, told FERC this week it may need until late 2027 to fully implement the agency’s order.

“Getting this done by the July 2025 time frame is too large an effort for us and our participating transmission owners,” Andrew Ulmer, a lawyer for CAISO, said last month during a meeting with stakeholders, when explaining the rationale for a deadline extension.

PJM, which operates in 13 states that include the southern and eastern part of the country, told Reuters it plans to discuss an extension to the FERC deadline during a meeting with transmission owners next week.

The Southwest Power Pool, whose territory extends from North Dakota to Louisiana, told stakeholders earlier this month it would seek an extension for as late as December 2026.

In early 2024, FERC approved a deadline reprieve for New York's grid operator that could extend into late 2028.

New England's grid operator, ISO New England, told Reuters it plans to request a deadline extension in the fourth quarter, but did not say how long it would need.

The delays are emblematic of decades of underinvestment in the U.S. electric grid, said Julia Selker, executive director of WATT Coalition, an advocacy group for more grid technology.

“You need utilities clamoring for this technology to get the regional grid operators moving,” Selker said.   

Trump described the electric grid as “increasingly unreliable” in a Jan. 20 National Energy Emergency declaration, which is intended to help him fast-track permitting for new energy infrastructure projects.

FERC told Reuters it is reviewing the president's executive orders and whether they will factor into decisions on deadline extensions.

The White House did not respond to a message seeking comment.

Transmission line congestion cost U.S. electric customers an estimated $11.5 billion in 2023, according to a report from Grid Strategies, a power sector consulting firm.

It has been a major obstacle for new power generation projects, which require transmission capacity to access markets.

Utilities that have already installed sensors based on the FERC order have seen some benefits.

For example, during 2022’s Winter Storm Elliott that knocked out power for more than 1.5 million homes and businesses across the U.S., PPL Corp's power lines with advanced sensors boosted their capacity beyond standard settings, which PJM said was critical in avoiding rotating power outages.

https://www.msn.com/en-us/money/companies/power-boosting-project-for-us-grid-to-miss-july-deadline/ar-AA1ycJcv

Canada's Trudeau announces counter tariffs

 Canada's Prime Minister Justin Trudeau said on Saturday Canada would impose 25% tariffs on C$155 billion ($106.5 billion) of U.S. goods in response to U.S. tariffs.

C$30 billion would take effect from Tuesday and C$125 billion in 21 days, Trudeau told a news conference.

Trump earlier signed an executive order imposing 25% tariffs on all goods from Canada and Mexico starting on Tuesday except Canadian energy products, which will be subject to a 10% duty.

Trudeau warned the tariffs would hurt the United States, a long-time ally. He encouraged Canadians to buy Canadian products and vacation at home rather than in the U.S.

He said some non-tariff measures, including some relating to critical minerals, energy procurement and other partnerships are being looked at.

https://www.yahoo.com/news/canadas-trudeau-announces-counter-tariffs-023300730.html

Mexico orders retaliatory tariffs on US hours after Trump imposed 25% tariff

 Mexico on Saturday ordered retaliatory tariffs on the US just hours after President Trump imposed a 25% tariff on the neighboring country.

President Claudia Sheinbaum Pardo blasted Trump’s action — and his suggestion that the Mexican government harbors alliances with criminal organizations and cartel members.

“If the United States government and its agencies wanted to address the serious consumption of fentanyl in their country, they could, for example, combat the sale of narcotics on the streets of their main cities, which they do not do, and the money laundering generated by this illegal activity that has done so much harm to their population,” Sheinbaum Pardo said on X.

Trump also put a 25% tariff on Canadian imports, while Chinese products will receive a more modest 10% tariff. The US will also impose 10% tariffs on energy products from Canada.

Sheinbaum said she had told her economy minister “to implement Plan B” which she said “includes tariff and non-tariff measures”  though it was not clear what those measure were exactly.

This is a developing story. Please check back for updates.

https://nypost.com/2025/02/01/us-news/mexico-claudia-sheinbaum-canada-justin-trudeau-trump-tariff/

Japan to Closely Monitor Yen Impact of Trump Tariffs, Kato Says

 

Japan intends to closely monitor the impact on its currency of US President Donald Trump’s new tariffs and is worried about the international fallout from the trade imposts, Finance Minister Katsunobu Kato said.

“We need to carefully see how the exchange rate and other factors will be affected and what form US monetary policy will take in the future,” Kato said Sunday in an interview with Fuji Television. He also said Japan is very concerned about how the tariffs may impact the global economy.

https://www.bloomberg.com/news/articles/2025-02-02/japan-to-closely-monitor-yen-impact-of-trump-tariffs-kato-says

Mexico's President Claims She Has 'Plan A, Plan B, Plan C' In Response To Trump Tariffs

 Only a few days ago the president of Mexico, Claudia Sheinbaum, was questioning with some skepticism whether or not Donald Trump would actually follow through on his threats of 25% tariffs on most Mexican-made goods.  "We don't think it's going to happen," Sheinbaum said at her regular morning press conference. "And if it does happen, we also have our plan."

As of the 1st of February it appears that her doubts have been put to rest.  Donald Trump has reiterated that he is going to stick to his tariff plan and that it will not be incremental.  Around 80% of all Mexican exports go to the US, which means that the majority of their manufacturing base will be immediately hit with a drop in US retail demand.  Mexican business leaders say this will trigger a number of bankruptcies and higher unemployment in border cities.  

Sheinbam claims in a recent press conference that she has a 'Plan A, Plan B and Plan C' in the face of high tariffs, but what does she really mean?  What would Mexico's response be, specifically?

First and foremost, Sheinbaum has threatened retaliatory tariffs on US exports to Mexico, her "Plan A".  Around 15% of US exports end up south of the border, however, Mexico is far more export dependent than the US.  Only 10% of the US economy is based on exports while 43% of Mexico's economy relies on exports according to the World Bank.  In other words, tariffs will hurt them a lot more than they'll hurt America.  

Like most establishment media economists, Mexico also argues that the US consumer will have to eat the inflation in prices that comes with tariffs.  This is assuming, though, that there are no alternatives to the Mexican goods being imported.  Car parts, electrical equipment, oil and gas, fruits and vegetables are a few of the biggest markets for Mexican goods.  The US produces close to 90% of the food that Americans purchase and Trump has indicated that energy may be exempt from tariffs.

The Mexican President's Plan B and Plan C are not so clear.  It is likely that Sheinbaum will seek aid from other Latin American governments, either to establish economic agreements to help lessen the pain of US tariffs, or as a means to put pressure on Trump through organized geopolitical sparring.  Most of these countries also have favorable trade imbalances with the US and none of them hold much international weight. 

The real leverage that Mexico has in harming the US is through mass immigration, which siphons hundreds of billions in taxpayer dollars, untold billions in untaxed wages, untold billions in subsidies, hundreds of millions in foreign aid each year that's meant to stop immigration - The list goes on and on.  Then there's the inflation in housing and goods caused by the extra demand of tens-of-millions of illegals, along with the wage depletion caused by foreign workers taking around 30% less pay than the average American worker.

Of course, Mexico has already been allowing illegal immigrants to flood into the US for decades, so it's not much of a threat anymore.

Mexico's response to Trump's tariffs will be to capitulate, the only question is how long will it take them to realize that this is their only option.  Sheinbaum behaves like most leftists/socialists in that she is often sarcastic, petulant and unruly in her rhetoric, but it's all a show.  Once Mexico understands that their prosperity is entirely contingent on US benevolence, they will fold and then act like victims.  

Victims of normal trade restrictions and normal border laws that they have violated for years while feeding parasitically off the US.     

https://www.zerohedge.com/geopolitical/mexicos-president-claims-she-has-plan-plan-b-plan-c-response-trump-tariffs