The stakes are high at this G7 Summit in Biarritz France.  Against the rising tide of populist nationalism -pushing against the globalist/corporatist world order- perhaps these stakes are the highest in the modern political era.

(Where are the spouses?)

Italian President Giuseppe Conte’ is a lame duck summit participant having just quit his job due to economic and immigration backlash from his Italian population.  German Chancellor Angela Merkel has steered her export dependent economy into a recession; and has announced she won’t seek reelection while simultaneously putting the EU central bank into a 28 nation economic quagmire filled with unsustainable IOU’s….
French President Emmanuel Macron, the host for this year’s summit, has spent the better part of the last year trying to violently block the rising yellow vest populist movement, and he is desperate for any distraction away from his own economic reality.
Meanwhile EU President Donald Tusk is locked in an economic death match with British Prime Minister Boris Johnson over the terms of the U.K. Brexit from the union; while simultaneously dealing with a lack of tax receipts from the aforementioned banks of Germany and France…
The EU’s only North American ideological ally, Justin from Canada, is essentially useless. Trudeau has used his political self-identification to hurt his own citizens economically;  Canada is experiencing a continued loss in private-sector employment amid the malaise Justin coordinates; and his tenuous (at best) re-election is scheduled for October 21st…
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As President Trump departs the White House en route to the G7 meeting in France, White House Manufacturing and Trade Policy Advisor Peter Navarro appears on Fox Business for an interview to discuss the latest round of enhanced tariffs on China.

(White House) For many years China (and many other countries) has been taking advantage of the United States on Trade, Intellectual Property Theft, and much more. Our Country has been losing HUNDREDS OF BILLIONS OF DOLLARS a year to China, with no end in sight.

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President Trump has announced the raising of tariffs on China effective Sept 1st and October 1st, 2019.  This is one arrow in a quiver filled with economic consequences:

• The preexisting 25 percent tariff on $250 billion in Chinese goods will increase to 30 percent effective October 1st, 2019.
• The pre-planned 10 percent tariff on $300 billion worth of Chinese goods will increase to 15 percent, effective September 1st, 2019.

This targeted tariff approach is only a small sample of the economic action that is available to President Trump.  There are a host of tools and targeted economic weapons available to President Trump that are far more damaging to Beijing.
This announcement also sends a clear message to the members of the G7 as they prepare for their meetings in France.
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Within the dynamic of the U.S -vs- China trade confrontation, CTH has long noted the Wall Street (globalist) multinationals would always go bananas.  There are trillions at stake and President Trump is confronting three decades of financial influence from Wall Street’s multinational corporate lobbyists.
To the angst of Wall Street, POTUS Trump tweets the dynamic.
President Trump will not back down from his position; the U.S. holds all of the leverage and the issue must be addressed.  President Trump has waited three decades for this moment.  Main Street U.S.A has waited for this moment.  This President and his team are entirely prepared for this battle…. Now we fight!

We are finally confronting the geopolitical Red Dragon, China!
President Trump has been brutally consistent for more than three decades on his intent and purpose with the Chinese.  President Trump is the first U.S. President to understand how the red dragon hides nefarious motives behind the panda mask.
Additionally, while carrying out the objectives of the confrontation, Secretary Mnuchin, Secretary Ross, Ambassador Lighthizer and adviser Peter Navarro are well aware of Beijing’s duplicitous panda mask; POTUS Trump will never let them forget about it.
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Well, they cannot later claim they were not warned.  In a series of stunning tweets today, President Trump directly tells U.S. companies manufacturing goods in China, they need to make rapid plans for exit.

Earlier today China’s commerce ministry said it will impose additional tariffs on thousands of U.S. products, including agricultural products, crude oil, small aircraft and cars. Tariffs on some products would take effect on Sept. 1 and others on Dec. 15.
The Wall Street multinationals are exposed to significant losses because of their investments in China.  White House trade and manufacturing policy advisor Peter Navarro appeared on Fox Business with Maria Bartiromo to discuss the dynamic.

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National Economic Council Chairman Larry Kudlow appeared on Fox Business today to discuss the current state of the economy.  Mr. Kudlow was questioned about several media reports surrounding discussions of new tax cuts, tax rate modifications and tax policy.
Additionally, Kudkow updates the latest position on the U.S-China trade discussion.

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President Trump was delivering another round of delicious Chopper Presser rebuttals to the MSM narrative engineers today, when he remarked about confronting China: “I am the chosen one”…  And the media had the customary spontaneous ‘splodey head.
First, the people’s president is right, he is the chosen one.  Through prayer and divine providence, we finally have a businessman fighting for Main Street USA.   Secondly, it’s funny to watch an entire MSM apparatus that decries religion, suddenly searching for scripture in their anti-MAGA talking points.  Too funny.  Only Trump can achieve this.
Epic. Just epic. WATCH:

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During an oval office press conference today, President Trump took several questions about China and the U.S. trade confrontation.  After receiving the third question, on the same subject, President Trump paused and then went deep into the heart of the issue.
The question was: ” Mr. President, you keep insisting that your trade war with China — the trade war with China is not affecting the U.S. economy. But a lot of economists disagree with that. And they worry that if China goes into a recession, they’ll pull us down with it.”
Here is President Trump’s response:

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[Transcript] … PRESIDENT TRUMP: Well — well, okay. Let me — let me tell you something. Number one, we’re doing very well as an economy. But somebody had to take China on. You know, I read and I see so much and I read so much, and I’ll see these economists saying, “Oh, give up. Give up on China. Give up.”
China has been ripping this country off for 25 years — for longer than that. And it’s about time, whether it’s good for our country or bad for our country short term. Long term, it’s imperative that somebody does this because our country cannot continue to pay China $500 billion a year because stupid people are running it.
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Secretary of State Mike Pompeo sits down for a wide-ranging interview with Martha MacCallum to discuss ongoing multi-layered issues between the U.S. and China.

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