Earlier today President Donald Trump delivered remarks on expanding health coverage options for employers and workers through health reimbursement arrangements (HRAs).
Under the rule, employers will be able to provide their workers with tax-preferred funds to pay for the cost of health insurance coverage that workers purchase in the individual market. The rule will particularly benefit small businesses that face costs in offering a traditional group health plan and businesses that do not currently offer coverage.

[Transcript] THE PRESIDENT: (Applause.) Thank you. Thank you. This is very nice. (Applause.)
AUDIENCE MEMBER: Happy Birthday, Mr. President! (Applause.)
THE PRESIDENT: Thank you.
AUDIENCE MEMBER: Happy Birthday, Mr. President!
THE PRESIDENT: Beautiful. Wow.
AUDIENCE: (Sings “Happy Birthday.”) (Applause.)
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More indications of the growing financial exit to avoid the predictable response from totalitarian moves by Beijing.  [Backstory – Backstory] Now we see reports growing of mass financial moves out of Hong Kong, as billionaires see the looming shadow of Red Dragon closing in…

HONG KONG (Reuters) – Some Hong Kong tycoons have started moving personal wealth offshore as concern deepens over a local government plan to allow extraditions of suspects to face trial in China for the first time, according to financial advisers, bankers and lawyers familiar with such transactions.
One tycoon, who considers himself potentially politically exposed, has started shifting more than $100 million from a local Citibank account to a Citibank account in Singapore, according to an adviser involved in the transactions.
“It’s started. We’re hearing others are doing it, too, but no-one is going to go on parade that they are leaving,” the adviser said. “The fear is that the bar is coming right down on Beijing’s ability to get your assets in Hong Kong. Singapore is the favoured destination.”

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Earlier today President Donald Trump delivered remarks introducing a ‘Second Chance’ hiring and workforce development initiative. The ‘Second Chance’ program is the follow-up initiative to complement the ‘First Step Act’ which the President signed last year.
‘Second Chance’ is a way to give everyone an opportunity to reestablish themselves economically and support their family financially.  This was really an uplifting and enjoyable event at the White House. [Video and Transcript]

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[Transcript] THE PRESIDENT: Thank you very much. Please, please. Great occasion.
I want to welcome everyone to the White House. We’re here today to announce a vital new action that we’re taking to help former inmates find a job, live a crime-free life, and succeed beyond their wildest dreams. (Applause.)
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If you’ve got the time this is well worth watching.  Larry Kudlow is Chairman of the National Economic Council and delivers a strong voice amid the economic team of assembled by President Trump.
Kudlow provides value because he comes from the Wall Street economic punditry networking group that just doesn’t understand MAGAnomics, or ‘America First’ Main Street policy.   President Trump has taught Kudlow a great deal.  So Kudlow’s value is heightened by his ability to explain Trump’s Main Street policy to his old Wall St. tribe; who genuinely have no concept of Main Street policy (hence, they’re always puzzled).

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Earlier today President Donald Trump hosted a bipartisan group of eight Governors and Secretary of Labor Alex Acosta as part of the ongoing workforce freedom and mobility initiative.
In combination with the vocational job development program, the president has committed to eliminating workforce barriers and expanding flexibility and mobility for American workers.  The initiative includes partnerships with states on occupational licensing reform, child care, paid family leave, and vocational skills training.

[Transcript] – Cabinet Room – THE PRESIDENT: Okay, thank you very much. And today, I’m delighted to welcome the governors from both parties to discuss the best ways to reform occupational licensing laws, advance childcare policies, and provide quality job training to all Americans so we can easily have some really phenomenal jobs, access to the jobs market and really fulfilling careers, and fulfilling careers of a lot of people.
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Against the intense leverage being applied by President Trump, last week Beijing doubled-down and threatened punishment against any company that would leave China and begin manufacturing elsewhere.
The totalitarian response was predictable and expected.  However, also predictable was the corporate response to the threats.
As we shared:  “China is counting on prior western investment being so significant that a corporation will be reluctant to withdraw. However, in this outlook Beijing seriously underestimates the free market because communist controlled China doesn’t understand the action of a inherently free market.
The first loss is the best loss. If walking away from an investment provides more financial security and stability than attempting to retain a grip on a tenuous position – corporations will walk away.” (more)
Now today – “Nintendo Moves Some Switch Production Out of China”:

TOKYO— Nintendo Co. is shifting some production of its Switch videogame console to Southeast Asia from China to limit the impact of possible U.S. tariffs on Chinese-made electronics, said people who work on Nintendo’s supply chain.
It is another example of manufacturers adapting to the tariff threat. Taiwan’s Foxconn Technology Group said Tuesday that it was ready to move assembly of Apple Inc.’s iPhones out of China if necessary, and Japan’s Sharp Corp. , which is controlled by Foxconn, said last week that it planned to move production of personal computers to Taiwan or Vietnam.

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Yesterday Secretary of State Mike Pompeo held a press conference to answer questions about the U.S-Mexicos migration and border security agreement. After reviewing some info from today, I’m inserting a graphic into Pompeo’s transcribed responses to better understand the “45 days” aspect. [Video and Transcript]

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[Transcript – (emphasis mine)] SECRETARY POMPEO: A couple things this afternoon. First, I’ll give some remarks later this week that are consistent with what we’ve been working on for my entire time here in the Indo-Pacific.
I’ll be speaking to a group of Indian business leaders in preparation for the trip that I’ll take in a couple weeks where I’ll be visiting India, an important part of President Trump’s strategy in the Indo-Pacific. And I’m looking forward to the opportunity both to give the set of remarks about how it is our relationship is so closely tied economically, but also importantly the things that the United States and India can continue to do to build out what is an incredibly important relationship for both countries.
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There’s always a larger geopolitical dynamic when you assess the economic alliances that President Trump puts together…. Always and underlying plan…  Sometimes it just takes time to surface.
As we have noted, even going back to 2017, Japanese Prime Minister Shinzo Abe always appeared to be the fulcrum for President Trump’s Indo-Pacific strategy.  

Remember the trip to Japan as honored guests of Emperor Naruhito and Empress Masako at the Imperial Palace?  Remember last month’s (May 25th) unprecedented reception with the titans of Japanese business?  Remember the private reception set up by a very nervous U.S. Ambassador William F. Hagerty?  A reception with the most influential business CEO’s in Japan and Southeast Asia? 
Well…

TOKYO (Reuters) – Japan’s Tokyo Electron, the world’s No.3 supplier of semiconductor manufacturing equipment, will not supply to Chinese clients blacklisted by Washington, a senior company executive told Reuters.
The decision shows how Washington’s effort to bar sales of technology to Chinese firms, including Huawei Technologies, is ensnaring non-American firms that are not obliged to follow U.S. law.

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President Trump travels to Iowa today to deliver a policy speech on renewable energy.  The remarks are taking place at Southwest IA Renewable Energy in Council Bluffs, Iowa. Later this evening President Trump will deliver remarks at the Republican Party of Iowa annual dinner.  Start time for the energy speech approximately 4:20pm EST:
UPDATE: Video Added

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White House Council of Economic Advisers Chairman Kevin Hassett squares-off against Fox Business crew on trade tensions with China, the state of the U.S. economy, the outlook for Federal Reserve policy and his upcoming departure from the White House.
Steve Forbes is disconnected from the reality of what happens with tariffs on China. Beijing first responds to off-set the tariff by lowering the value of their currency, and/or subsidizing the targeted products. There is no price increase to U.S. consumers (check inflation).

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Apparently President Trump was watching the segment, and had a word for Maria Bartiromo, Dagan McDowell, Steve Forbes and Stuart Varney:
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