Following a visit to Mexico by U.S. Attorney General Bill Barr, earlier today President Trump announced he was putting a “temporary hold” on the designation of Mexican drug cartels as terrorist organizations.

It looks like President Donald Trump has once again created a significant amount of leverage for Mexican President Lopez-Obrador to continue working with the Trump administration on a variety of security (border and immigration) and economic (USMCA) aspects.
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Earlier today President Trump hosted a small business roundtable at the White House with various business owners to discuss the economy and the removal of regulatory hurdles. [Video and Transcript Below]

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[Transcript] – THE PRESIDENT: Well, thank you very much, everyone. King Salman of Saudi Arabia, he just called to express his sincere condolences and give his sympathies to the families and friends of the warriors who were killed and wounded in the attack that took place just recently, just this morning, in Pensacola, Florida.
The King said that the Saudi people are greatly angered by the barbaric actions of the shooter and that this person, in no way, shape, or form represents the feelings of the Saudi people who love the American people so much.
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Elections have consequences.  On the same day the U.S. economy reports astoundingly successful jobs growth of 266,000 jobs and a drop in the unemployment rate to 3.5 percent; the Canadian state economic minister reports surprisingly terrible jobs losses of 72,200 jobs and a jump in unemployment from 5.5 to 5.9 percent.
The Canadian economy is roughly one-tenth the size of the U.S. So in equivalent terms the results from Canada reflect a comparative loss of 720,000 jobs on the same day the U.S. revises all figures upward to over 300,000 gains.  A stunning economic contrast:

OTTAWA (Reuters) – The Canadian job market lost a surprise 71,200 net positions in November while the unemployment rate rose to 5.9%, the highest in more than a year, data showed on Friday, as analysts said a repeat of the weak numbers could force the Bank of Canada to rethink its monetary policy.
Analysts in a Reuters poll had forecast a gain of 10,000 jobs and had predicted the unemployment rate would hold steady at 5.5%. […] November’s numbers followed a weak report in October, when the labor market unexpectedly shed jobs despite a likely boost from hiring related to the federal election.

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National Economic Council Director Larry Kudlow appears on Fox Business news to discuss the November jobs report, economic growth and the China trade discussions.
Kudlow highlights the primary point that President Trump has reestablished Main Street USA as the primary focus of policy.  U.S. companies invested in the U.S. economy are doing exceptionally well and receiving the majority benefit.  U.S. multinational companies who are invested overseas are not benefiting as much.  Wall St -vs- Main Street.

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Director Kudlow is correct, if the House can ratify the USMCA trade deal, North America will see a massive influx of investment.
In essence Titan Trump is winning the economic battle by: (a) repatriating wealth (trade policy); (b) blocking exfiltration (main street policy); (c) creating new and modern economic alliances based on reciprocity (bilateral deals); and (d) dismantling the post WWII Marshal plan of global trade and one-way tariffs (de-globalization).
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“These are the best jobs numbers of our lives”…

The Bureau of Labor Statistics (BLS) has released the jobs number for November and the results are astoundingly excellent.  November jobs gains 266,000; the year-over-year wage growth is 3.1% with non-supervisory wages growing double the rate of supervisory wages. The unemployment rate dropped slightly to 3.5 percent.

Additionally, September was revised up by 13,000 from +180,000 to +193,000, and the change for October was revised up by 28,000 from +128,000 to +156,000. With these revisions, employment gains in September and October combined were 41,000 more than previously reported.  [Full BLS Report Here]
Also in November, 1.2 million persons were marginally attached to the labor force. This is a reduction of 432,000 from a year earlier. Those additional jobs are not counted in any labor report because those returning workers were previously not looking for employment; they came off the sidelines and entered the workforce.  AMERICA IS WORKING AGAIN !
The pundits are shocked, s.h.o.c.k.e.d!
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The U.S. government limits the amount of time adults aged 18-49, who do not have dependents or a disability, can receive food stamps to three months in a 36-month period, unless they meet certain work requirements.  However, during tough economic times the Dept. of Agriculture has provided waivers to extend the limits.
With a strong economy and low unemployment the Trump administration has now finalized a rule tightening guidelines on when and where states can waive federal limits on how long certain residents can receive benefits. The changes will move more “able-bodied” adults into the workplace, U.S. Agriculture Secretary Sonny Perdue explains:

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Common sense spending reform is a key part of MAGAnomics. Under the America First economic program the economy expands, tax receipts increase, and the federal government has no need to provide supplemental benefits. The treasury takes in an extra dollar and has no need to spend a dollar, the savings are doubled.
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Earlier today President Trump hosted a luncheon at the NATO summit for nine nations’ who are living up to their pledges of two-percent of GDP financial support for the NATO military alliance: United States, Bulgaria, Greece, United Kingdom, Estonia, Romania, Lithuania, Latvia and Poland. [Video and Transcript Below]

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[Transcript] – PRESIDENT TRUMP: Well, thank you very much. These are eight countries, plus us — plus the United States — that are fully paid. They met the goal of 2 percent. We call them the “2 percenters.” Someday, we’ll raise it to 3 percent and 4 percent, maybe. But, right now, we have it.
But these are countries that have not been delinquent. They’ve been, in some cases, even more than 2 percent, because they feel so strongly about what we’re doing. And that’s really a sign of respect for the United States.
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President Trump held a bilateral meeting with German Chancellor Angela Merkel on the sidelines of the 2019 NATO Summit in the U.K.  Against the backdrop of President Trump favoring increased tariffs against the EU to initiate a new trade deal based on reciprocity; and against the intransigence of Chancellor Merkel refusing to live up to the NATO Wales Accord and pay two percent of GDP for defense; there is some diplomatic tension.
We can sense a more determined tone from President Trumy as both he and Chancellor Merkel took questions from media. [Video and Transcript Below]

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[Transcript] – PRESIDENT TRUMP: Well, thank you very much. We had a very successful NATO meeting. I think it was one of the most successful. We’re just discussing that the best, certainly, that I’ve been — I’ve been to three of them now, and this was really something very special. There’s great spirit. A lot of people are putting up a lot of money. We have $130 billion more. And within three years, we’ll have $400 billion more put up by other countries. So that’s really something. And it was a great meeting.
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Commerce Secretary Wilbur Ross appeared on CNBC earlier today to discuss the status of U.S-China trade discussions, the latest issues with tariffs on French goods, and the bigger picture issues within the EU that we previously discussed.
Ross highlights the additional tariffs on China scheduled for December 15th are currently still planned to take effect unless something substantial changes in the position of China.  Additionally, and interestingly on the French and EU tariffs, Secretary Ross reminds the financial pundits of the $7.5 billion WTO authorized award against the EU that would be in addition to the $2.4 billion in tariffs now scheduled for French products.

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Pay attention to what Ross says in that interview; the administration is being remarkably open and consistent.  Given the adversarial position exhibited by French President Emmanuel Macron today; and against the backdrop of continual EU intransigence on trade reciprocity; I suspect once the USMCA is passed we are going to see a *severe* shift in tone within the U.S. trade position toward both China and the EU.
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The primary hypocrite behind the self-serving European NATO position is French President Emmanuel Macron.  With the background of massive new U.S. tariffs expected against French products President Macron comes for a bilateral meeting and press availability with U.S. President Donald Trump.  [Video and Transcript Below]

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[Transcript] –  PRESIDENT TRUMP: Well, thank you very much. It’s great to be with President Macron of France. And we’ve had a fairly long relationship and a very good one. And we were just discussing certain things, and then we’re going to have a long conversation afterwards.

I want to, first of all, before we begin, I want to pay my respects to the great warriors that you lost in Mali — 13, and helicopters. It was very sad. I’ve gotten a report on it. We talked about it. And please give my condolences to the families and to France. And they’re great fighters. You’ve done a fantastic job in that whole area. It’s a tough area. So we appreciate it very much.

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