Treasury Secretary Steven Mnuchin Discusses the U.S-China Trade Reset and Initiatives….

One of the less discussed aspects to President Trump’s economic cabinet is the careful selection of specific members who operate above the financial influence of ‘The Big Club’. Commerce Secretary Wilbur Ross and Treasury Secretary Steven Mnuchin are two key positions able to focus on economic nationalism without worrying about undue influence from the globalist lobbying pressure of Tom Donohue and the U.S. CoC.

The baseline of financial independence, and disconnect from self-interest, is unique in our lifetime; and allows the resulting execution of economic policy to focus, very deliberately, on America First objectives.  Secretary Mnuchin discusses the China confrontation:

This entry was posted in Auto Sector, China, Communist, Decepticons, Deep State, Donald Trump, Economy, European Union, G20, India, Legislation, media bias, Mexico, President Trump, Trade Deal, Uncategorized, US dept of agriculture, US Treasury, USA, USMCA. Bookmark the permalink.

33 Responses to Treasury Secretary Steven Mnuchin Discusses the U.S-China Trade Reset and Initiatives….

  1. dobbsfan says:

    Truly the best parts of this Administration!

    Liked by 10 people

  2. fred5678 says:

    Speaking about fentanyl Mnuchin said “A very, very big deal”.

    The whole agreement is a VERY VERY BIG DEAL.

    Can’t see how MSM will belittle this during the coming months — but they will do their darndest!

    Liked by 8 people

  3. Financial independence is what the swamp criminals hate about Trump…he cannot be bought. Another one of the primary reasons I voted for him.

    Liked by 7 people

  4. DT2020 says:

    Kudlow with reporters as well

    Liked by 5 people

    • ABN says:

      Xi negotiating personally is a very big deal and makes it far more likely China will uphold its end of the bargain. That said, their history is decidedly not good in this area.

      Liked by 3 people

  5. zozz1 says:

    Eye on the ball; slow and steady wins the race…ignore distractions; focus…..

    Liked by 4 people

  6. fleporeblog says:

    This great interview with Secretary Mnuchin reinforces what I wrote the other day:

    Our President and his Killers took the damn Chinese to the cleaners this evening! All China 🇨🇳 got was a 90 day reprieve starting on January 1st. The tariffs on the $200 billion dollars of imports will stay at 10% rather than go up to 25%. However, if they can’t finalize a deal by the end of the 90 days, on April 1st the tariffs will be increased from 10% to 25%.

    Look at everything we got in return!

    For companies like GM and Apple, they are not happy because the status quo is far worse in business than having closure. They absolutely HATE uncertainty.

    That is exactly what they got out of this agreement.

    Our President will kindly remind them and the American public via twitter that WE ARE OPEN FOR BUSINESS!

    WINNING feels so damn good!

    Liked by 7 people

  7. fleporeblog says:

    As for the DUMB MSM question about what changed for China, they will never realize how brillant our President and his Killers are. There was a trilateral that scared the Chinese to DEATH! I wrote the following about it the other day.

    The implications of this meeting will send shockwaves across all of Communist China 🇨🇳! I remember John Bolton at the press conference sharing this would be one of the meetings at the G20. I thought 💭 to myself that our President and his Killers were sending a clear message to President Xi. The Chinese have had a few days to absorb the ramifications of it.

    This is the ultimate “Trump Card”. China 🇨🇳 understands it better than anyone else. If India 🇮🇳 were to become Most Favoured Nation, the Chinese better prepare for a revolution throughout their country. They can kiss it all goodbye. Those ghost cities will be burned to rubble and ashes.

    The LEVERAGE our President and his KILLERS have on China 🇨🇳 cannot really be quantified. India 🇮🇳 is very dependent on fuel. They alone could provide our LNG producers enough business to last a lifetime.

    People need to strap in because the ride is about to takeoff at speeds we can’t even imagine!

    Liked by 10 people

  8. fleporeblog says:

    Our President tweeted today about the success of the meeting and the outcomes from them:

    Liked by 10 people

    • Maquis says:

      Flep, just imagine the day that farmers beg for the end of the forced ethanol for fuel boondoggle because they can make more profits growing food sold on the open market than by sucking us dry at the Commie pumps.

      There are and will be ways to produce ethanol that do not require the raping of our farmland for a dubious at best benefit to the environment. If there’s ever a real market for it…

      Liked by 3 people

      • fleporeblog says:

        I agree that it really could happen! Especially when our President gets the EU onboard.

        Like

      • & bring back regular flush toilets & normal light bulbs & get the gov’t busybodies out of our lives (as much a possible)…No More Nanny State!!!

        Like

      • G. Combs says:

        “…imagine the day that farmers beg for the end of the forced ethanol for fuel boondoggle because…”

        They realise CORN is RUINING THEIR LAND!!!

        Corn is a ‘big feeder’ that is it quickly depletes soil of nitrogen and phosphorus WORSE, in ethanol production the entire plant is harvested and sent off the farm instead of being tilled under to provide organic matter. If the corn is used ‘on farm’ to feed livestock then the manure can be used to recycle the nutrients and organics back into the soil. Clover hay, soy-beans and oats and even pasture can be rotated from field to field helping the soil to recover..

        Soil-Depleting, Soil-Conserving, and Soil-Building Crops by University of Texas

        Soil Erosion In Corn Belt Is Much Worse Than Official Estimates
        Wednesday, April 13, 2011

        “AMES, Iowa – Data based on tracking erosion after every storm over a period of years shows that Iowa farms are losing precious topsoil up to 12 times faster than government estimates, a disturbing discovery detailed in a new report by the Environmental Working Group. The report, titled Losing Ground, is based on research by scientists at Iowa State University whose methods provide an unprecedented degree of precision in monitoring soil erosion.

        Moreover, aerial surveys by EWG and interviews with experts across the Corn Belt indicate that soil erosion and polluted runoff are likely far worse than even the disturbing ISU numbers suggest. The aerial photography showed that many Corn Belt fields are scarred by gullies that funnel soil and toxic farm chemicals into streams ? damage that is not accounted for in official or even ISU’s estimates of soil erosion and runoff.

        “What is happening on Iowa farm fields is shocking but goes largely unnoticed,” said Craig Cox, who manages EWG’s agriculture programs from its Ames, Iowa office. Cox is the lead author of Losing Ground.

        “We’ve grown complacent thinking we have the soil erosion problem under control, but instead it looks as if we are losing ground in our decades-old fight against this most fundamental and damaging problem in agriculture,” Cox said….”

        An older study on erosion and traditional rotation of corn/oats/hay/soy-beans <== (Nitrogen fixing legume)
        https://www-legacy.dge.carnegiescience.edu/SCOPE/SCOPE_32/SCOPE_32_2.6_Chapter13_429-451.pdf

        Virginia Extension Service: Nitrogen and Phosphorous Fertilization of Corn
        “Corn must have adequate amounts of nitrogen (N) and phosphorus (P) for profitable production. Nitrogen and phosphorus are also the nutrients that produce excessive algae growth in surface waters when concentrations increase above certain critical levels. Profitable and environmentally sensitive corn production requires that N and P be managed in an efficient manner. Economic returns from the use of these nutrients can be maximized, while the potential for surface and groundwater enrichment with N and P can be minimized with the use of appropriate technology…..”

        As my farm proves if the organic matter (carbon) is depleted beyond a certain point fertilizers do SQUAT! When I purchased the farm over 4 feet of top soil had eroded since the 1940s soil survey and there was less than 2% organic matter left. The farm barely grew weeds and any crops were stunted and unproductive. That is why it was sold for way below market price. My livestock has since added several inches of top soil.

        Like

  9. Zippy says:

    Since we’re dealing with macroeconomics (a pseudo “science”), mentioning this guy seems appropriate. I really like his attitude and was reminded of him today by the use of his acronym IYI in a column I was reading. Excerpts from one of his classic columns:

    The Intellectual Yet Idiot (IYI)
    by Nassim Nicholas Taleb
    Sep 16, 2016

    View story at Medium.com

    Excerpts:

    What we have been seeing worldwide, from India to the UK to the US, is the rebellion against the inner circle of no-skin-in-the-game policy making “clerks” and journalists-insiders, that class of paternalistic semi-intellectual experts with some Ivy league, Oxford-Cambridge, or similar label-driven education who are telling the rest of us 1) what to do, 2) what to eat, 3) how to speak, 4) how to think… and 5) who to vote for.

    But the problem is the one-eyed following the blind: these self-described members of the “intelligentsia” can’t find a coconut in Coconut Island, meaning they aren’t intelligent enough to define intelligence hence fall into circularities-but their main skill is capacity to pass exams written by people like them. With psychology papers replicating less than 40%, dietary advice reversing after 30 years of fatphobia, macroeconomic analysis working worse than astrology, the appointment of Bernanke who was less than clueless of the risks, and pharmaceutical trials replicating at best only 1/3 of the time, people are perfectly entitled to rely on their own ancestral instinct and listen to their grandmothers (or Montaigne and such filtered classical knowledge) with a better track record than these policymaking goons.

    The Intellectual Yet Idiot is a production of modernity hence has been accelerating since the mid twentieth century, to reach its local supremum today, along with the broad category of people without skin-in-the-game who have been invading many walks of life. Why? Simply, in most countries, the government’s role is between five and ten times what it was a century ago (expressed in percentage of GDP). The IYI seems ubiquitous in our lives but is still a small minority and is rarely seen outside specialized outlets, think tanks, the media, and universities-most people have proper jobs and there are not many openings for the IYI.

    The IYI pathologizes others for doing things he doesn’t understand without ever realizing it is his understanding that may be limited. He thinks people should act according to their best interests and he knows their interests, particularly if they are “red necks” or English non-crisp-vowel class who voted for Brexit. When plebeians do something that makes sense to them, but not to him, the IYI uses the term “uneducated”. What we generally call participation in the political process, he calls by two distinct designations: “democracy” when it fits the IYI, and “populism” when the plebeians dare voting in a way that contradicts his preferences. While rich people believe in one tax dollar one vote, more humanistic ones in one man one vote, Monsanto in one lobbyist one vote, the IYI believes in one Ivy League degree one-vote, with some equivalence for foreign elite schools and PhDs as these are needed in the club.

    More quotes from Nassim Taleb:

    “The *establishment* composed of journos, BS-Vending talking heads with well-formulated verbs, bureaucrato-cronies, lobbyists-in training, New Yorker-reading semi-intellectuals, image-conscious empty suits, Washington rent-seekers and other “well thinking” members of the vocal elites are not getting the point about what is happening and the sterility of their arguments. People are not voting for Trump (or Sanders). People are just voting, finally, to destroy the establishment.” – Facebook comment made on 7 Mar 2016 by Nassim Nicholas Taleb

    “I propose that effectively what people resent – or should resent – is the person at the top who has no skin in the game; that is, because he doesn’t bear his allotted risk, he is immune to the possibility of falling from his pedestal, exiting the income or wealth bracket, and getting to the soup kitchen. On that account, the detractors of Donald Trump, when he was a candidate, failed to realize that, by advertising his episode of bankruptcy and his personal losses of close to a billion dollars, they removed the resentment one may have towards him. There is something respectable in losing a billion dollars, provided it is your own money.” – Nassim Nicholas Taleb, scholar, statistician, risk analyst, and author of the 36 week NYT best seller “The Black Swan: The Impact of the Highly Improbable”

    About Nassim Taleb:

    “Nassim Taleb is a prickly arrogant SOB who doesn’t give a crap what intellectuals, academics, and other establishment elitists think about him. He has an Ivy league MBA, but despises everything about the curriculum of Ivy League MBA programs. He has a PhD, but scorns academics and their worship of theories and models. Taleb has called for cancellation of the Nobel Memorial Prize in Economics, saying that the damage from inevitably flawed economic theories can be devastating and he urges that banks be treated as utilities forbidden to take potentially lethal risk with depositor money. He enjoys poking holes in the storylines of the propaganda spewing corporate media. He glories in ridiculing the predictions of captured “experts” mouthing the talking points of whichever corporate interest is paying them blood money. He wrote his brilliant Black Swan book back in 2006, a book released in early 2007 which was a powerful tome predicting the financial collapse in 2008.”

    Liked by 4 people

    • rashomon says:

      Taleb commenting on any topic reminds me of turning on a blender at the highest level while it is uncapped. Eruption! Every IYI spatters body parts on the ceiling, walls and floor.

      Loved “The Black Swan”!

      Like

      • rashomon says:

        I propose all seniors in high school be required to read “The Black Swan” and pass a test on Taleb’s tweets — which can be very funny as well as enlightening — to prepare for the real world, which doesn’t have safe spaces and cares zilch about their itty-bitty feelings.

        Liked by 1 person

    • Fascinating Zippy. Taleb is one of my favorite type of thinkers–the contrarian. The excerpt you’ve posted is wonderful takedown of the “elites”.

      Liked by 1 person

  10. litlbit2 says:

    Sorry again, but if there is ever a need for any individual to exceed to the top in a one specific feild of endeavor to define your life’s work in one word. Join the press pool and on your head you will receive the stamp. STUPIDITY.

    Exposed daily, made in the USA, by MSM plus the alphabet soaps.

    Like

  11. Pyrthroes says:

    With few exceptions, doers-and-makers foster passive rentiers whose wastrel heirs blast their legacies with bizarrely dysfunctional, perversely schtoopid nostalgie de la boue. All too much of this is “women’s work” [we’re 36 years married, with three kids; if you have to ask, you’ll never know].

    As scions of a pre-eminent Old Yankee family which came a fiscal cropper in 1907, we shipped out at ages 17 – 19 as Ordinary Seaman on tramp steamers and a T-2 tanker carrying subsidized U.S. grain through Suez to Bombay. Say what you will… all the Ivy League credentials and old-line socializing since have never meant a thing. If it’s better government you want, raise better people: start ’em young, give ’em room, and to bloody hell with all your prissy, Thorsten Veblen snob appeal.

    Liked by 1 person

  12. Donna in Oregon says:

    Some of this is confusing because clearly POTUS is respectful of our holiday season. Especially Christmas. I love that the Trump admin. puts the American people first.

    Yep, for the sake of appearance, the Chinese got a pass at G20. Betcha if the Fentanyl deaths don’t stop with a quickness (70,000 deaths per year and it actually shortened our National life expectancy stats in the USA). We will see a tweet about disappointment…..President Xi……and then fill in the blank for the punishment.

    The silence about the 10% drop in value of Chinese money to pay for the 10% tariffs is deafening. The glaring omission of that caveat of Chinese financial deception that can be seen from space. Crickets…..So even if POTUS doesn’t smack them with 25% in January (and hey, it’s all verbal at this point), there is always the Currency Manipulation and the steps to end that crap.

    I’m liking this. A lot.

    All the naysayers really don’t understand American ingenuity or President Donald J. Trump. Promises made, promises kept.

    MAGA 🙂

    Liked by 3 people

  13. yonason says:

    The talent Trump has in place here is awesome!
    And it’s obvious that everything they are doing is to benefit Americans, without cheating the parties on the other side.
    So VERY impressive!

    Liked by 2 people

  14. G. Combs says:

    For those pushing BUTtttt the WALLlllll! (Comments now seems gone.)

    ECONOMICS is part of the wall strategy!!

    President Trump does not attack a problem head on. He takes the lumps out. He uses Sun Tzu, The Art of War

    “O divine art of subtlety and secrecy!
    Through you we learn to be invisible,
    through you inaudible,
    and hence we can hold the enemy’s fate in our hands.”

    President Trump tried the straightforward method of getting a wall and the Ryan RINOs blocked him. So now he is going to take on the deeper problem and correct not just the lack of a wall but the forces BEHIND mass migration.

    NAFTA was one of those forces SEE: Small Farmers And The Doha Round: Lessons From Mexico’s NAFTA Experience NAFTA banckrupted 75% or more of Mexico’s small farmers BUT did not give them the ‘promised’ sity jobs. INSTEAD those jobs were shipped to China. President Trump is undoing that damage.

    Sex and Drug Trafficking is the other force:

    “Trump just dropped the bomb on pedophiles and sex traffickers with this official statement on Whitehouse.gov: https://www.sgtreport.com/2018/03/trump-drops-bomb-on-sex-traffickers/

    “President Donald J. Trump is Working to End Human Trafficking – My Administration will focus on ending the absolutely horrific practice of human trafficking. And I am prepared to bring the full force and weight of our government, whatever we can do, in order to solve this horrific problem. ~ President Donald J. Trump”

    Executive Order Blocking the Property of Persons Involved in Serious Human Rights Abuse or Corruption.

    Trump’s Executive Order for Military Tribunals
    “….What does Trump’s new Executive Order published on March 1, 2018 mean? It gives new powers to the Department of Defense by allowing civilian courts and lawyers to be used to augment military staff during military tribunals. It also alludes to the current law allowing Martial Law to be declared during times of National Emergency or during any threat to National Security. We are already declared, via Executive Orders, to be in a state of National Emergency. Are we going to have military tribunals of US civilians? Is this akin to Martial Law?

    For the first time in history, experienced civilians to take part in the US Military court-martial process—thus clearing a path for mass “Deep State” arrests whose trials and sentencing would not impact the normal flow of the US Military justice system.

    The rumored 14,000 sealed indictments being served against pedophiles and the Gitmo housing expanded by 13,000 beds in the US budget relate….”
    https://theupliftingcrane.wordpress.com/2018/03/09/trumps-executive-order-for-military-tribunals/

    Like

  15. jeans2nd says:

    Is still a bit unsettling to witness real multi-millionaires and billionaires that have decided they have enough and it is time to give back.
    And yet, here they are, working for us! How cool is this?
    Praying that other countries find their own talents as have we, and soon.
    Thank you for the interview. Nice to see Greta again, she has been missed.

    Like

  16. montanamel says:

    Let the games begin!
    All hail fearless leader.

    Like

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