Sunday Talks: Larry Kudlow Discusses USMCA (NAFTA Replacement) and Ongoing Trade Initiatives…

National Economic Council Chairman Larry Kudlow appears on Sunday Morning to talk about the U.S.MCA agreement; the state of the economy; and the ongoing MAGAnomic efforts within restructured trade deals.

Ms. Maria Bartiromo knows the weeds, and is smart enough to see the new dimension within an economy as it moves away from Wall Street toward Main Street.  Kudlow discusses the surfacing MAGAnomic evidence within wage growth and blue-collar benefits. The conversation then goes international. Good discussion.

The Koala even gets a little cross about China

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This entry was posted in Big Government, Big Stupid Government, China, Donald Trump, Economy, media bias, NAFTA, President Trump, Trade Deal, Uncategorized, US Treasury, USA, USMCA. Bookmark the permalink.

32 Responses to Sunday Talks: Larry Kudlow Discusses USMCA (NAFTA Replacement) and Ongoing Trade Initiatives…

    • Minnie says:

      “Courage is not found in Europe”
      “Courage is not found in Japan”

      Courage is found in America, led by the fiercest most ingenious leader of the free world.

      Past Administrations refused to deal with China.

      Now the very stable strategic genius, OUR President, is showing how it is done, the right way.

      🇺🇸🦁🇺🇸

      Liked by 13 people

      • Carrie2 says:

        Minnie, I would like again to say that I have traveled several times and I studied there as well. The Chinese of today love luxury items – clothes/shoes/purchases/suits and CARS and yes, they can buy our products there but are expensive. This is why we at our great mall get busloads of Chinese to shop for the same items here. Had our friends here while on their honey moon and they came with a lot of dollars to buy different products for friends back in China. I don’t know the rules of bringing in items from here, but took a lot with them from Nikes, to underwear, etc. They are more shall we say spoiled with good products, better jobs, more income, and travel. I was also taught my Oriental (now Integrated) Medicine studies that China is also afraid of the peasants (we still use that word, but better to say those who want to move on up and are great in numbers and can be a threat to the “leaders” in overthrowing them. So there is a balancing that Xi must do to everyone’s benefit. Not too many old communists living and they know it. They are seeing the shall we say lower level earners are now becoming millionaires and billionaires and I think that, too, will cause them to come to the table and not lie. They have more educated people as well which before for millennia strictly for the upper class that hung around whatever emperor at the time. Or as my spouse said the truly one great thing that Mao did was to have mandatory education for all. Everyone pays and it isn’t free, but they are better in education than here and they start the children at age 3! Imagine that and you can understand why they are so smart when they come here for PhDs. They also are more and more speaking English because they recognize it is an important language for them in today’s world. This is not to say there are no controls in China, that would be absurd but they have come a long way since the early 1900’s with the b**th empress they had at that time. A beautiful country of rivers/mountains/truly beautiful parks, and cleanliness. Now some taxis with TVs in the back for patrons and no charge up to a quite lengthy ride before the money machine starts up, so not like here that once our are in a taxi, the money starts then and there. Metal gym stuff every so many blocks so they can exercise (actually many visits and studied there but saw no one at any hour of day or nite doing TaiQi(Chi) (Taijiquan). They love to dance to our 1940’s and 50’s music as exercise as well. Xi will sooner or later put up or else is what I believe because over 1 billion people can produce a lot of misery!

        Liked by 3 people

    • Deplorable_Infidel says:

      “the last couple of administrations have failed to take China on…”

      Yep. Now that we have an administration that is holding China accountable, those that have grown fat and rich over the past arrangement are screaming the loudest that the world is going to end. They have the fake news MSM in their back pocket because they own it, thanks to WJC.

      Liked by 2 people

    • GB Bari says:

      Although it was shorter, I liked this interview a bit better than Koala’s. Issa is more pragmatic, specific and evaluative of the Administration’s current strategy and setting realistic expectations (Maria really doesn’t appear to understand the proper use of tariffs). Issa demonstrates a realistic understanding of the global dynamics at play and for us to not raise our expectations too high of other countries assistance in taming China.

      He says our other big trading partners are “unlikely to join us and aggressively “do what the President is doing”. He doesn’t “want to raise expectations that somehow the Europeans going to get a spine [YES he said that!], it’s not in their DNA”.

      But he feels that although the other nations want to develop alternate trading partners instead of China, the USA will have to lead like we always do.

      Liked by 1 person

  1. Diana Allocco says:

    MUST READ: “Trump has China quaking in its boots” https://nypost.com/2018/10/06/trump-has-china-quaking-in-its-boots/

    I am a huge fan of Mosher and his China expertise. Some salient quotes:

    With China still running a record trade surplus with the US, it seems premature — to say the least — to say that Trump has won his long-overdue trade war with China.

    But it is not too early to conclude that, despite their threat of retaliatory tariffs, China’s Communist authorities know that they have lost.

    [snip]

    The official Global Times has even published an article calling for US administration officials to invoke the 25th Amendment and remove Trump from office.

    In private, however, senior Chinese officials have come to view Trump as a Sun Tzu-like strategic genius.

    Yes, you heard me right.

    After the election, Xi Jinping tried to rope Europe and other Asian countries into a new, anti-US coalition, only to see this initiative fail.

    The EU recoiled from Xi’s embrace and is now in serious free and fair trade talks with Washington.

    Even the Philippines, which Xi tried desperately to woo with the promise of billions in investments, has now backed away from China.

    But as Xi was stumbling, Trump went on the offensive. He signed a new trade agreement with South Korea and expanded defense cooperation with Japan and Australia.

    Using the threat of tariffs as leverage, he even got Xi to agree to UN sanctions against North Korea, stifling the economy of China’s only formal ally.

    This week, with the successful renegotiation of a trade agreement with Mexico and Canada — the USMCA — Trump is now able to control China’s access to the entire North American market.

    Beijing officials now realize, even if many in the US foreign policy establishment don’t, that they are facing a master tactician, one who is moving steadily from deal to deal, getting as many concessions as he can, and then moving on the next.

    But they also see Trump as not just transactional, but strategic. He is pressuring China not just on the economic front, but on the military and ideological front as well. They fear that his goal is not just to rectify the trade deficit, but to eliminate the threat that a rising China poses to the US.

    The Chinese have been set on their heels by an American adversary who quotes Sun Tzu: “The supreme art of war is to subdue the enemy without fighting.”

    The Art of War has met The Art of the Deal. And The Art of the Deal has won.

    Only the terms of the surrender remain to be negotiated.

    China is eager to resume talks but, as Trump said this week, he is in no hurry to reach a deal.

    I am pretty sure he means that China is not yet sufficiently subdued.

    Liked by 11 people

  2. jeans2nd says:

    By george, kKddly Koala Kudlow did a fine job here, laying out first the good news, and then the problems with China and backing up Pres Trump’s strategy and asking for help and support.

    Never watched Kudlow on CNBC, would be curious to hear how Kudlow might have seen Pres Trump’s strategy were Kudlow still a CNBC host.

    Chairman Kudlow is an extremely effective communicator, we are fortunate to have him.
    Prof Navarro is still my fav, though. A great professor is a rarity and especially cherished. imo
    thank you for the vid, would have missed it otherwise.

    btw – why are not more people watching and commenting on this??? the economy and trade are Pres Trump’s signature issues, from which everything else emanates, most especially security

    Liked by 4 people

  3. Fast182 says:

    Fewer comments because the Nunes interview got bumped ahead of it, so this was the lead story for only a brief time.

    Liked by 1 person

  4. fleporeblog says:

    Our Koala 🐨 was showing his teeth in that interview slapping the Chinese around and rightfully so. He absolutely understands what China 🇨🇳 means to our national security as a nation.

    PDJT and his Killers aren’t looking to do a trade deal with China 🇨🇳. That is the last thing on their minds. The latest incident with China’s 🇨🇳 spy chip will get Americans to back PDJT to stop all imports of technology into our country. Including the damn IPhone.

    Those companies better start building factories throughout our country! Or they can kiss our market goodbye.

    WINNING is AWESOME!

    Liked by 9 people

  5. Joshuatree says:

    I personally believe POTUS will use ohase 3 of his tariffs on chinese goods AND implement auto tariffs so China further decreases their currency to the point where Trump will label them a currency manipulator and sticks them w a currency investigation. That will change their tune bc the bad outcome would be sanctions and fines in the billions…

    Liked by 6 people

    • Bingo.

      Tariffs & Sanctions will continue to ratchet up until our Trade Deficit evaporates.

      Then they’ll continue to ratchet until China comes up with ADMISSIONS of IP Theft, which they won’t make.

      Then he’ll force China’s sale of U.S. assets, which will give China funds to redouble purchases of other countries’ assets … until their ownership is BANNED EVERYWHERE.

      Question: When will the WTO be reformed and demand GLOBAL CHINESE REPARATIONS to restore wealth to rightful owners? 😎

      Liked by 2 people

  6. Deplorable_Infidel says:

    “Ms. Maria Bartiromo knows the weeds, and is smart enough to see the new dimension within an economy as it moves away from Wall Street toward Main Street.”

    This makes a big difference in the quality of the resulting interview, where the guest can concentrate on delivering the facts and information and not be distracted by fighting inaccuracies perpetrated by the host of the show.of the show with an agenda to push.

    Liked by 3 people

  7. CHINA LOSING:
    Shanghai Composite DOWN 3% as of now!

    Like

  8. This was a very strong interview and shows Kudlow’s tough side well. I liked his tryout of the phrase, “Trump is a trade reformer”. That will play well and captures POTUS both shaking up status quo and desire to attain fairer, better trade.

    It will be interesting to see if the China trade, cyber intrusions and IP thefts are indeed on the G-20 agenda at the late Nov. meeting in Buenos Aires.

    Liked by 1 person

  9. Cooper45 says:

    The new Chinese cyber policy that will allow them access to proprietary info of U.S companies might be just a cagey negotiating tactic to cancel later or more likely it is a signal that they are not willing to give up much or anything further. If some of the people of China begin to complain about hardships, it won’t be for long. There will never be vocal anti gov’t protesters cramming the halls of the Chinese politburo like the protesters have been freely caterwauling inside and outside Capitol Hill and even threatening and berating elected officials. The Chinese Communist leaders consider this shameful weakness.

    In 2012, “A 24-member Politburo was elected by the party’s Central Committee but real power was held by the smaller standing committee, which worked as an inner cabinet and grouped together the country’s most influential leaders….Once a decision was made, all members are bound by it.”

    Today, Xi Jinping apparently leads a seven-man Politburo with six other men “serving with him” over the next five years whatever that means. It’s not difficult to figure who has the first and the final say on the important issues like trade wars. No pesky opposition party or Senate and Congress to worry about.

    Supreme Leader Xi Jingping is certainly not Justin “nobody pushes us around” Trudeau and Chrystia “Taking on the Tyrant” Freeland is not their chief negotiator. If Xi says don’t surrender another inch in negotiations to the USA no matter the cost to the “proletariat” of China, nobody will disagree; unless they are willing to face some severe consequences.

    Maybe Xi Jingping wants to have more back and forth discussions about broad trade issues with Trump himself before the negotiating teams do their jobs in earnest. Didn’t Trump say they wanted to talk but he doesn’t think they are ready yet.

    Like

  10. Pyrthroes says:

    “A journey of 1,000 miles begins with the first step”– aye, and so a journey of 100 years begins with the first season. In course of history, an inflection point of eight years (to 2024) is significant only if posterity bucks up sufficiently to follow through.

    As Europe’s Judaeo-Christian post Roman Imperial civilization drains away, its throat slit by suicidal World Wars I and II, it falls to the U.S. as Churchill’s “Great Republic” to keep the flame alight.

    In light of recent Supreme Court agitprop, November 2016 and pending Midterms 2018 loom large. But absent institutionalizing social-contractual (Constitutional) safeguards concerning Consent of the Governed under Rule of Law, this Trump Administration’s great work will be for naught.

    This is not a pessimistic but a realistic view. With Reagan’s exception (another “American Original”), the last half-century represents a historic Failure of Imagination. Post VSG, we fear this road-to-hell will merge with Generation Wuss’s inordinately craven, selfish Failure of Nerve as well.

    Liked by 1 person

  11. dufrst says:

    I cannot emphasize enough how important the USMCA agreement is for the US and for Trump. First politically, I believe the Midwest is trending GOP. I believe the USMCA has cemented the Midwest for the GOP, much as the South is GOP. I think this will be shown to be true in the upcoming midterms and completed in the 2020 elections.

    Second, on the trade negotiation front, I believe the USMCA provides the blueprint for acceptable trade agreements with the EU, Japan, and UK, when they finally Brexit. I believe Trump will not come to a final deal with China until those trade agreements with our allies are completed. Trump is all about maximizing leverage and with every major trade agreement completed with major economies, he gains more and more leverage on China. In fact, I would argue that Trump is also using China to gain leverage on the other major trade partners! Imposing significant tariffs on China has had the effect of bolstering Trump’s tariff threat credibility with the other trading partners. The steel and aluminum tariffs were set on a global basis and so could be dismissed, but targeting China directly and in the manner that Trump has, immediately got the attention of the EU and Japan, when Trump threaten to tax their autos coming into the US. Trump continue tough tariff policies on China, responding in kind to China’s retaliations, has got the other partners spooked and so trade deals with those partner will happen in short order in 2019. With all that said, the 2018 elections will be watched carefully by these partners to see if Trump is weakened politically.

    Third, China is in a really precarious position. They have embarked on this audacious pursuit of global hegemony as they have gotten stronger economically, at the expense of the US, over the years. The Chinese have achieved this economic strength through ingenious strategic planning and willful blindness by the US in utilizing their trade prowess to fuel their global ambitions. China since their entry into WTO, initially was a supplier of cheap manufacturing products and were a bargaining chip of US multinational corporations (MNC) negotiating against labor unions domestically. US entrepreneurs and MNCs invested heavily in China to exploit its immense labor resources to deliver cheap goods to US consumers and also gain a foothold in the vast Chinese market as it developed. This was a sound partnership for the initial 10 years from the time China joined WTO, but in the last 10 years, and especially with the ascension of President Xi to power, China started to feel their oats.

    In the initial 10 years, China converted their trade gains into massive domestic infrastructure investments to fuel double digit GDP growth. But under Xi, China began to convert their trade aims into very ambitious global conquest projects, such as creating domestic MNCs, many of which are state-owned; major investments in rebuilding a military with global power projection, including their activities to secure the South China Sea; and an audacious agenda to leap frog the world in technology leadership, by stealing intellectual property, through force technology transfer; cyber espionage of US technology firms, universities and government labs, investments in US technology startups and ventures, acquisitions of US technology companies and patents (think Lenovo); investments in research and development, and creating Chinese clone companies that are essentially Chinese versions of existing US technology firms (think Alibaba).

    Technology is now the prime resource of the world, as the world has evolved from agriculture, to industry, and now to technology. Technology is now the most valuable enterprise and the nation that leads in technology will chart the course for the world. The US has now awakened to the ill-gotten gains of China in this area and we finally have an administration that is going to put a halt to this Chinese agenda, especially because China, despite all that it has benefitted in having a trading relationship with the US over the years, has decided to be hostile and belligerent towards the US and its interests abroad. The Chinese now have global ambitions, as evidence by their One Belt, One Road initiative, which they are using to establish global outposts to constitute a new Chinese empire. They are busily securing key resources in agriculture and minerals around the world, extracting those resources from poorer nations to fuel their domestic industries, while also securing future markets in Africa, Southeast Asia, and even South America (right under nose!) for their newly created MNCs to exploit and dominate.

    It’s a grand master plan that is all funded by their trade imbalance with the US. It was highly likely to succeed in grand fashion with their ambitions plans to dominate technology by 2025, dominate Asia by 2035, and the world by 2050! But China didn’t count on the US to have the leader we have and Trump has great power over them. He can quickly scuttle those plans if China doesn’t come to the table and make major concessions. I would argue that the US doesn’t need to trade with China and should contemplate a future in which it will finally view China as the true strategic threat that it is to the world. Instead of benignly labeling China as a strategic competitor, it’s best to properly label China as a strategic adversary (enemy) and begin to disassociate from them economically, until they reform politically and withdraw their grandiose global agenda that is hostile to the US.

    Currently, the US-China total trade is $600 billion, making that the third most valuable trading relationship the US has in the world. The USMCA is the largest at $1.2 trillion and the EU is 2nd, at $700 billion. China has 1.4 billion people and that is cited by some elites as the reason for tolerating China’s massive trade imbalance, because it opens up that vast market to US goods. Well, that has not happened to the extent that it should be happening over the past 20 years. I believe the US needs to begin to look elsewhere to friendlier nations, that have the potential to replace China’s vast population and large volume of trade. I look at nations such as India and Brazil, that are democratic and developing nations, that have comparable labor costs to China (if not better in the case of India) and whose combined populations are larger than that of China. India and Brazil combined has 1.5 billion people, yet the volume of trade between the US and them, amounts to only $150 billion. Keep in mind the population of the USMCA market is only about 450 million people! Yet, it is the largest trade market in the world.

    If China doesn’t work out, the US has alternatives in India, Brazil, and the ASEAN countries (as a collective ASEAN is the 4th largest trading partner of the US with $225 billion in trade and a population of 600 million people) that can replace China. Trump has all the cards. He is using China to gain leverage on our trading allies in the EU, Japan and UK, by demonstrating the credibility of his tariff threats on their automobile industries, by imposing 25% tariffs on China, with every retaliatory action that China takes. He has already completed major trade deals with Canada, Mexico, and South Korea. Trump has unlike any US president in my lifetimes, used trade negotiations to achieve geopolitical policy outcomes as well, as demonstrated in his sanctions on Iran (global sanctions) and North Korea. Trump is now demonstrating how US grand strategy can be implemented and I believe Trump when he says that if China doesn’t come to the table, then the US won’t be trading with them. That’s a serious and credible shot across the bow in my view, because of the alternative markets that exist that can replace China and perhaps be better suited to support our economy and keep us on top of the world, as sole superpower.

    Liked by 1 person

    • dufrst says:

      I apologize for the length of the previous post but I was inspired by this article:

      Liked by 1 person

    • dufrst says:

      Great talk on exactly what I was talking about on FBN

      I agree that Trump will string out the trade war with China. I say he’s using China to gain leverage on the EU, Japan, and UK. to agree to terms. Once they do, he will begin negotiating with China, demanding big concessions and he should accept nothing less because of Chinese belligerence. If they won’t concede, then reorient the US supply chains to India and Brazil. They can replace China, along with our own domestic base.

      Like

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