President Trump’s MAGAnomic trade and foreign policy agenda is jaw-dropping in scale, scope and consequence. There are multiple simultaneous aspects to each geopolitical policy objective; however, many have been visible for a long time – some even before the election victory in November ’16.
Maria Bartiromo has a view that stems from 30-years of Wall Street economic advocacy. Bartiromo reflects the most common frame of reference for almost all financial punditry. [Orange-Man-Bad-Tariffs] This perspective stems from the era when Wall Street’s economy was sold as the only model possible for the future of the U.S.  In short they were taught that a U.S. manufacturing and production economy was gone, and the only viable economic model was the “service driven economy”.  Bullshit!
In this interview U.S. Trade Council Director Peter Navarro is affirming policy to the benefit of Main Street not Wall Street. There is an inherent disconnect and conflict.

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The words from Peter Navarro will come as no surprise to any CTH reader who is fully engaged and reviewing the multi-trillion stakes, within the Globalist (Wall St.) -vs- Nationalist (Main Street) confrontation.
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If the latest reports are accurate, this is *not* good.  Remember, there are trillions at stake and Wall Street has spent hundreds-of-million on behalf of multinational interests lobbying to keep the current status with China unchanged.
There’s a deep financial motive within this dynamic to stop President Trump from resetting the trade relationship with China. Additionally, Canada is aligned in self-interest with Wall Street and Trump’s adversaries toward the same goal.

Apparently National Security Adviser John Bolton was aware the CFO of Huawei was going to be arrested in Canada.  However, President Trump was kept out of the loop.

WASHINGTON (Reuters) – U.S. President Donald Trump’s national security adviser, John Bolton, said in an interview with National Public Radio that he knew in advance about the arrest of a top executive of the Chinese technology giant Huawei Technologies Co Ltd [HWT.UL], according to an NPR reporter on Thursday.
Bolton said he did not know if the president was aware in advance of the arrest of Meng Wanzhou in Canada on Saturday, the day Trump struck a 90-day truce on trade in a meeting with Chinese President Xi Jinping in Argentina, NPR reporter Steve Inskeep said in a tweet.

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White House trade adviser Peter Navarro appears on Fox Business to discuss the possibility of trade deals between the U.S. and China.  Navarro explains the Buenos Aires dinner meeting and how Chairman Xi outlined his position on three buckets of U.S. concerns.
Charles Payne is going bananas because he doesn’t understand what happens in the space between two different sets of economic policy benefactors:  Wall Street and Main Street.
Wall Street is going to lose ground; period.  Their financial interests are dependent on retaining the status-quo multinational/global economic systems.  President Trump is supporting Main Street over the interests of Wall Street.  Stocks that are centered on U.S. blue-collar companies, domestic benefits, will grow; all other multinational stocks will not.

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Within the dynamic of the U.S -vs- China trade confrontation, CTH noted the Wall Street (globalist) multinationals would likely go bananas.  There are trillions at stake and President Trump is confronting three decades of financial influence from the corporate lobbyists.   To the angst of Wall Street, POTUS Trump tweets the dynamic:
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 behind the panda mask.
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National Economic Council Director Larry Kudlow discusses some of the key specifics within the dinner table conversation between President Trump and Chairman Xi.  [*note* at the very end of this briefing, Kudlow is asked about the German auto visit tomorrow]
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 behind the panda mask.  Additionally, while carrying out the objectives of the confrontation, Secretary Mnuchin, Secretary Ross, Ambassador Lighthizer and adviser Navarro are well aware of Beijing’s panda mask; POTUS Trump will never let them forget about it.

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With a full quarter of trade data to analyze the impacts, the Chinese tariff results are now measurable.  A multinational group studying the outcome (full pdf), identified that approximately 4.5% of the current tariff impact is being carried by American consumers.  The overwhelming cost of the tariff is being paid (20.5% absorbed) by Chinese producers.
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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:

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A lengthy interview (recently released) between Greta Van Susteren and President Donald Trump at the G20 summit in Argentina.  The topics include: the USMCA trade agreement; the conflict between Russia and Ukraine; overall global trade; issues within the global climate change economy; Brexit, China, the U.S. economy and immigration.
As most CTH readers are aware MAGAnomic policy, economic nationalism, is the largest focus of President Trump.  Beyond all other issues, this is the POTUS priority. Within this interview the president walks through the geopolitical issues and interests for the U.S. economy.  Well worth watching:

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Statement from the White House Press Secretary Regarding The President’s Working Dinner With China:

“The President of the United States, Donald J. Trump, and President Xi Jinping of China, have just concluded what both have said was a “highly successful meeting” between themselves and their most senior representatives in Buenos Aires, Argentina.
Very importantly, President Xi, in a wonderful humanitarian gesture, has agreed to designate Fentanyl as a Controlled Substance, meaning that people selling Fentanyl to the United States will be subject to China’s maximum penalty under the law.
On Trade, President Trump has agreed that on January 1, 2019, he will leave the tariffs on $200 billion worth of product at the 10% rate, and not raise it to 25% at this time. China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries. China has agreed to start purchasing agricultural product from our farmers immediately.
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The U.S. delegation headed by President Trump and the Chinese delegation headed by Chairman Xi Jinping attended a much anticipated bilateral dinner at the conclusion of the G20 summit in Argentina.  The dinner lasted for two and a half hours:

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Immediately following the dinner the U.S. delegation went straight to Airforce-One for the flight home.
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President Trump took all the ‘dragon slayers’ with him to Argentina likely anticipating a rapid Chinese evolution from Panda to Dragon.  Trump’s delegation selection sends exactly that message.  If cunning Chairman Xi exhibits wounded sensibilities, well, tough.
China deployed the panda mask for over a year in an effort to wait-out President Trump, fair enough; however, that strategy has a severe downside.
If lack of engagement is part of Beijing’s economic defense mechanism, ie. retaining the status quo,  you can expect President Trump to provoke the confrontation.
Does Xi feel rucky?

SHANGHAI (Reuters) – China and the United States can reach a trade agreement at the G20 meeting in Argentina this week, the state-run China Daily newspaper said in an editorial on Friday, but Washington must be “fair minded” if it wants to defuse spiraling tensions.
“Beijing wants a deal, just as Washington does. And it is willing to cooperate with Washington in dealing with concerns about trade if they are fair-minded,” the paper said.

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