Chopper pressers are the best pressers.  As President Trump departed the White House to travel to Dayton, OH and El Paso, TX, he stopped to deliver remarks and answer questions from the press pool. [Video and Transcript below]

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[Transcript] – THE PRESIDENT: So, we’re going to Dayton first, and then we’re going to El Paso. And we’ll be meeting with first responders, law enforcement, and some of the victims, and paying my respects and regards. I’ll be going with the First Lady. And it’s a terrific opportunity, really, to congratulate some of the police and law enforcement. The job they’ve done was incredible. Really incredible.
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Wow. Go Wilburine!  U.S. Commerce Secretary Wilbur Ross has slapped a whopping $4.4 billion countervailing duty on Chinese cabinet manufacturers.  The rate of manufacturing subsidy identified within the ‘wood cabinet‘ study shows a massive 229% subsidy rate via discounted land, free lumber, electricity, raw materials, direct grants from government and discounted loans from Chinese banks to enhance export incentives.

The current study and duty only applies to wood cabinets and vanities, but if you ever wondered how come Chinese furniture is so cheap, well, it’s not a stretch to consider those same subsidy rates likely apply to their household furniture and wood products.

(Bloomberg) Add $4.4 billion in imported cabinets to the long list of Chinese goods slapped with U.S. levies in the escalating trade dispute between Washington and Beijing.
The Commerce Department said Tuesday it will ask the U.S. Customs and Border Protection to collect cash deposits from importers of the wooden cabinets and vanities from China based on subsidy rates of as much as 229%. Commerce issued a preliminary determination in response to a petition filed earlier this year by the American Kitchen Cabinet Alliance, alleging at least $2 billion in harm from the Chinese shipments.

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CTH writes a great deal about President Trump’s economic policies, and how those policies are reversing the decades-long erosion of the middle-class.  Factually, substantively and empirically the workers of America are gaining ground. Bigger and better than before, and far beyond what anyone else could have delivered.

This is not a theoretical exercise.  The execution of a broad-based economic and global trade reset is underway. Today’s economic results, the growing strength of our U.S. economy, is a testament to the success of MAGAnomic policy being delivered. These results, when fully realized, will secure our economic future and last for generations.
All of that said, there is something we don’t emphasize enough: The team of Secretary Mnuchin, Secretary Ross, USTR Lighthizer, Trade and Manufacturing advisor Navarro and NEC Director Larry Kudlow, face a scale of opposition almost unfathomable in modern political terms.  There are trillions at stake; hundreds of the most powerful financial interests in the world are against them; and yet this team is succeeding.
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Former FBI Agent Peter Strzok has filed a lawsuit in DC federal court seeking reinstatement and back pay as a result of his firing in 2018.
According to the lawsuit (full pdf below) Strzok is claiming his first amendment right to free speech was violated and his fifth amendment right to due process was violated.
Upon initial review, this lawsuit looks like a stunt; motive undetermined, but perhaps related to the pending release of the IG report on FISA abuse where Strzok was a key participant.
A federal civil lawsuit using the DC circuit and the U.S. Constitution as a primary protective assertion does not follow the path of a serious claim for wrongful firing or termination of employment.
Traditionally, and with a genuine claim, wrongful termination actions would go through a formal complaint and review process within the U.S. Department of Labor.  Hiring a lawyer and filing a federal civil lawsuit claiming disingenuous constitutional rights violations reeks of an ulterior motive for publicity; ie. purposeful political value in alignment with Strzock’s allies in Lawfare.   This is a political stunt… 100%
Peter Strzoks lawyers are: Aitan D. Goelman, from Zuckerman Spaeder LLP;  Richard A. Salzman and Julia T. Quinn from Heller, Huron, Chertkof & Salzman PLLC.
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National Economic Council Chairman Larry Kudlow, appears on CNBC to discuss the U.S-China trade conflict that led to yesterday’s stock market drop. Additionally, Kudlow notes the strong key performance indicators that highlight the strength of the U.S. Main Street economy.

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Larry Kudlow also held a press conference.
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White House trade and manufacturing policy advisor Peter Navarro, appears with Lou Dobbs to discuss the current status of the U.S.-China trade conflict.
Within the interview Navarro discusses the impact of China devaluing their currency as a strategy to avoid U.S. tariffs on Chinese imports.  WATCH:

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Beijing has once again used their proxy province of North Korea to launch small two short-range ballistic missiles as leverage in the U.S. and China trade confrontation.

WASHINGTON – For the fourth time in less than two weeks, North Korea has fired projectiles into the Sea of Japan, a U.S. official said.
The two projectiles, fired on Tuesday morning local time, were assessed to be similar to the short-range ballistic missiles tested by North Korea last week, the official said. (read more)

Moments later President Trump and Treasury Secretary Steven Mnuchin fired a counter-missile directly into the heart of Beijing’s trade currency manipulation:
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China needs to buy dollars to backstop their own currency (¥uan). When China trades with the U.S. they hold the return dollars as a peg against their weak currency.  Remove the flow of dollars (lessen exports) and they start to run out of strong pegged currency.
What is happening today is not as much direct devaluation by China; rather they are intentionally allowing their currency to drop in value, in an effort to lower export prices and off-set any tariffs from the U.S.   Simultaneously, Beijing is spending internally, burning cash, to keep their economy from weakening.  Their Yuan burn rate is greater than the influx of higher valued dollars needed to hold their position.
They cannot keep this position indefinitely.
First, here’s a solid interview with former CEO Gerald Storch on how the currency devaluation leads to lower prices for U.S. consumers.  Again, emphasizing the point that U.S. consumers are not paying for the tariffs against China.  Watch:

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Originally outlined over two years ago. Reposted by request, because we are watching it play out in real time: Believe me, at the heart of the professional/political opposition the issue is the money; there are trillions at stake.

President Trump’s MAGAnomic trade and foreign policy agenda is jaw-dropping in scale, scope and consequence. There are multiple simultaneous aspects to each policy objective; they have been outlined for a long time, even before the election victory in November ’16.
If you get too far into the weeds the larger picture can be lost. CTH objective is to continue pointing focus toward the larger horizon, and then at specific inflection points to dive into the topic and explain how each moment is connected to the larger strategy.

Today we repost an earlier dive into how MAGAnomic policy interacts with multinational Wall Street, the stock market, the U.S. financial system and perhaps your personal financial value. Again, reference and source material is included at the end of the outline.
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Whooo doggies, Maria Bartiromo outdid herself this morning with an interview segment just packed with information, insight and discussion into the DOJ and FBI corruption and DNI Ratcliffe’s nomination. (h/t Michael Sheridan)  This is a MUST WATCH:
After the first segment on the El Paso and Dayton shootings, Ms. Bartiromo segued into a discussion of George Papadopoulos and the secret informant transcripts; from recordings that were part of the FBI sting operation using U.S. intelligence asset Stefan Halper; and are now being held in evidence by U.S. Attorney John Durham and Inspector General Michael Horowitz. [Background] Keep in mind Gowdy has seen these transcripts.
According to Bartiromo those transcripts include FBI wire-taps of Halper attempting to get Papadopulos to accept assistance from Russia (delivering Clinton emails), and George Papadopoulos absolutely refusing to accept any engagement therein.  Confirming that outline, Gowdy notes there are more recordings (and transcripts) of a similar nature, where the FBI was attempting to bait other Trump campaign officials.
Additionally, Bartiromo confirms that Senate Intelligence Committee Chairman Richard Burr and Senate Majority Leader Mitch McConnell refused to meet with DNI nominee John Ratcliffe after his nomination; and exactly as we suspected it was the lack of support from the SSCI and McConnell that led to his nomination withdrawal. Stunning interview.

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