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:

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:

The protests, turned riots, are named ‘Yellow Vest’ after the high-vis jackets that are required in all French automobiles.  The protestors wear the vests amid their fury over rising fuel prices;  However, the protests have now evolved into a direct confrontation to the presidency of Emmanuel Macron.

According to media reports over 5,000 police were deployed as angry protestors began breaking stuff, smashing store windows and battling with government riot squads.

Despite the show of force by police the crowd overwhelmed their positions and set up barricades to block any effort by the French government to break up their protests.  Check points along the Champs Eleysees and Arc de Triomphe were taken over by the scale of the crowd.   However, it’s not just Paris – disruptive protests are happening throughout France.

(more…)

This is one of those reports that seems small and appears way over there on the periphery. However, if MAGAnomics and trade are important to you, this story is very much worth paying attention to.
As CTH shared last week the White House reached out to EU auto executives to request a meeting.  There is a VERY STRONG likelihood the message within this meeting will surround potential tariffs, and questions from team Trump about the intents of EU (mostly German) automakers against the backdrop of the USMCA.
The potential for auto-tariffs terrifies the EU (specifically Germany), because most of their profits from within the industry come from access to the U.S. market.   Few major markets in the world can afford the scale of automobile purchases as a wealthy U.S.A. does.  The profit margins are much smaller in all other countries.  Without the U.S. market, these auto companies would be in deep financial trouble.  Enter Trump’s leverage:
(more…)

The issue is basic to the construct of the USMCA (NAFTA replacement).
BMW made a multi-billion-dollar investment in Mexico in anticipation of exploiting the NAFTA loophole.  President Trump has closed the loophole.  The new USMCA agreement requires 75% of automobile parts made in North America; and 45% must come from plants with minimum labor costs ($16/hr), or face tariffs upon export to the U.S.
As a result BMW is now considering opening those higher-wage component supply operations in the U.S.

LOS ANGELES (Reuters) – BMW (BMWG.DE) is considering a second U.S. manufacturing plant that could produce engines and transmissions, Chief Executive Harald Krueger said on Tuesday, shortly after a report that U.S. President Donald Trump would impose tariffs on imported cars from next week
[…] BMW is considering changes to U.S. operations as sales in the region grow, Krueger said. BMW has a U.S. vehicle assembly plant, in South Carolina, is planning to open a Mexico factory next year, and is considering changes to its current scheme of importing engines and transmissions.

(more…)

British Members of Parliament will vote on Theresa May’s sketchy Brexit deal on Tuesday 11th of December. The U.K. House of Commons is set to debate the pact for five days. More than 100 members of parliament have indicated they could vote against the deal.
Nigel Farage appears on Fox News to discuss the deal that Theresa May has constructed.

Canadian media are reporting that General Motors plans to shut down operation in Oshawa, Canada.   This is quite possibly an outcome that portends the sign of things to come…

CANADA – Numerous sources have told CTV Toronto that General Motors is planning to close all operations in Oshawa, Ont., affecting thousands of high-paying jobs.
The announcement is expected to be made on Monday, in the city of about 159,000 people located roughly 60 kilometres east of Toronto.  Sources said they believe the Oshawa closures are part of a global restructuring. (read more)

GM holds considerable risk exposure within the current state of international trade and economics as it relates to the auto industry.  As a result of the ongoing U.S-China trade confrontation, GM holds risk as a result of heavy investment in China.  Add to that exposure the very significant financial impacts about to start for heavy manufacturing operations inside countries aligned with the Paris Climate Treaty, and the risk increases.
(more…)

The latest signs of economic nationalism -vs- economic globalism surfaced today in France as thousands protest.

Significant riots broke out today amid backlash to the economic policies of French President Emmanuel Macron.  Fueled by resentment over a new gasoline tax, thousand of Parisians took to the streets to protest. [See Daily Mail Article Here]

(Via Reuters) […] The unrest is a dilemma for Macron who casts himself as a champion against climate change but has been derided as out of touch with common folk and is fighting a slump in popularity.
While the movement, which has no leader, began as a backlash against higher fuel prices, it has tapped into broader frustration at the sense of a squeeze on household spending power under Macron’s 18-month-old government.

(more…)

An article published originally in the U.K. Telegraph, and republished via Yahoo News outlines growing fear within the U.K. government and British intelligence officers surrounding President Trump discovering how far they were involved within “Spygate”.
The facts are not uncommon to anyone who has done research into the events of 2015 and 2016; however, the interesting aspect surrounds the current level of anxiety which indicates something is soon to become very public.
The central concern of the British officials surrounds President Trump declassifying evidence that will outline a coordinated effort by a weaponized U.S. intelligence apparatus to use their foreign counterparts for two aspects:  (1) to spy on the Trump campaign in 2016; and (2) to help carryout an entrapment scheme that would become the baseline for the FBI’s counterintelligence operation which evolved into Mueller’s Russian election interference investigation (aka. the “insurance policy”).
According to the Telegraph outline the current U.K. Prime Minister is intentionally being kept out of the communication loop because British intelligence are fearful President Trump might ask about her knowledge.  Keeping Theresa May blind to the U.K operations against Trump provides plausible deniability if questioned.  Additionally, all British embassy staff in the U.S. have been told to say absolutely nothing if questioned.
(more…)

Victor Davis Hanson appears for an interview with Mark Levin to discuss his support for President Trump and current political challenges. The affluence of America driving the influence of Marxism by demanding equality of outcome.