Commerce Secretary Wilbur Ross appears on Fox Business News for an extensive interview with Maria Bartiromo. The interview covers a wide spectrum of important topics attached to the U.S. economy and ongoing trade deals. Two great video segments for the interview will get you up to speed on ongoing initiatives:
♦Segment #1 outlines the upcoming announcement of KORUS, the South Korea and U.S. trade deal. Additionally, Secretary Ross discusses the steel and aluminum tariffs and how they enmesh in the larger objective of the ongoing trade negotiations with China:
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♦Segment #2 outlines more on the aluminum and steel tariffs; ongoing trade talks with Europe; efforts to renegotiate NAFTA, and the possibility of a deal being reached; Saudi Arabian investment in the U.S. and the Commerce Department plans to bring back a citizenship question in the 2020 Census.
The passage of the defense spending portion of the Omnibus bill ultimately means there will be increased demand for U.S. steel and aluminum within new defense equipment. The contracts within the procurement process will predictably require the use of U.S. parts.
Add the increase in defense spending with the pending global tariffs on steel imports, and the environment is created for foreign investment in domestic steel and metal manufacturing…. Then add into the mix the geopolitical economic relationship developed between India’s Prime Minister Modi and President Trump… And you discover the backdrop for this announcement from India owned JSW Steel:
(Reuters) – India’s JSW Steel Ltd said on Monday it would spend $500 million to build out its U.S. operations in Texas, amid heightened global trade tensions following U.S President Donald Trump’s decision to pursue steep import tariffs.
The company has signed an agreement with the Texas governor’s office, under which the governor has approved a grant worth $3.4 million to the company’s unit, the steelmaker said in a statement here.
Perhaps as early as this week we should anticipate hearing about completion a significant trade agreement with South Korea. The deal is known as “KORUS” (KOR+U.S.), and has been in negotiations for over a year.
Part of the recent agreement within the auto-sector of the deal, between Moon Jae-in and President Donald Trump, via Lighthizer and Ross, is an exemption of U.S. steel tariffs for South Korea in exchange for a doubling of U.S. auto exports; from 25,000 to 50,000 American made cars, per U.S. automaker, per year. (link)
The results within KORUS exhibit the intended outcome of the global tariff proposal from President Trump as leverage to enhance the administration policy of reciprocity. The world is taking notice, and China is now beginning to signal their understanding of President Trump leading the international discussion of reciprocal trade.
The unspoken background is that all nations, who have acquiesced to the overwhelming demands of China’s trade position, are now beginning to reassess the value of President Trump confronting the equation head-on. Ultimately it is beginning to sink-in that all nations can benefit from correcting a trade imbalance within their own position. In essence, U.S. President Trump is moving the entire global trade dynamic.
Omar Mateen was the Islamic terrorist who attacked the Pulse Nightclub in Orlando Florida in June of 2016 killing 49 people. Mateen’s wife Noor Salman is currently going through trial for assisting her husband leading up to the attack.
Previously it was disclosed Omar Mateen was on the radar of the FBI and interviewed prior to the attack for threatening Sheriff’s deputies. Stunningly, it is revealed today the shooter’s father Seddique Mateen was an FBI informant from 2005 through 2016.
ORLANDO – […] Mateen’s father was the subject of motion by Salman’s defense late Sunday, asking for the case against to be thrown out or declared a mistrial and arguing prosecutors failed to disclose that Seddique Mateen is a former confidential informant for the FBI.
Omar Mateen’s father was also investigated after agents assigned to the shooting case found receipts for money transfers to Turkey and Afghanistan, according to the motion filed by Salman’s defense. U.S. District Judge Paul Byron said he would consider the motion later today.
Senator Lindsey Graham appears on Fox News for an interview with Maria Bartiromo. 99.99% of the interview is country club Senator Graham repeating the same South Carolina white wine spritzer talking points he’s famous for. That is to say lots of words amounting to nothing. The gastric equivalence of cucumber and mayonnaise triangle sandwiches on crust-less Wonder bread with a side of celery.
However, there is a reminder at 09:50 of a key and important point that tries to surface yet continues to get whacked down by the annoying duplicity of swamp creatures and a media that completely ignores the obvious. Lindsey Graham claims Christopher Steele lied and told the FBI he never talked to media.
We do not know this to be true, and neither does he.
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It is far more likely the FBI:… #1) Ignored Chris Steele talking to media because they needed his Clinton-Steele dossier for a false FISA application; and #2) the FBI later told congress they didn’t know about Steele talking to media, but they really did; and #3) the FBI falsified FD-302 reports of their interview with Chris Steele to cover their tracks.
Oh, here we go. Fox News owner Rupert Murdoch has a decades-earned nickname, “Mr. Wall Street”, Chris Wallace is the insufferable media mouthpiece for the financial interests of the guy who signs the front of his paycheck. This is Wall Street -vs- Main Street.
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When Main Street economic principles are applied Wall Street will initially lose. There’s no way for this not to happen. Most of Wall Street is built on the Multinational platform of economic globalism. Weaken the grip of the multinational corporations and financial interests on the U.S. economy and Wall Street will drop… this is not difficult to predict. This is also necessary.
U.S. stocks, centered around U.S. domestic companies, will go up. U.S. stocks, centered around multinational companies -invested heavily overseas, and dependent on exploitation of the U.S. trade deficit- will go down.
As Secretary Wilbur Ross, U.S.T.R. Robert Lighthizer and U.S. President Trump have previously affirmed, they are going to restore the U.S. manufacturing base or lose office trying.
Additionally, the U.S. GDP is measured by deducting the value of imports from the value of everything produced domestically. Therefore, initially as the economy expands, and as more Americans have more money to buy more stuff, lots of the things they buy will come from overseas. This increase in purchasing of imports drives down the GDP despite the overall economic activity expanding.
I hope everyone has been prepared with prior information on how the economic system works so we can understand this weird and predictable dynamic. Increased consumer spending can actually drive down the GDP if the stuff we are buying is imported.
Nuance and subtlety is everything in China. Culturally harsh tones are seen as a sign of weakness and considered intensely impolite in public displays between officials; especially within approved and released statements by officials representing the government.
There is no doubt in my mind that President Trump has a very well thought out long-term strategy regarding China. President Trump takes strategic messaging toward the people of china very importantly. President Trump has, very publicly, complimented the friendship he feels toward President Xi Jinping; and praises Chairman Xi for his character, strength and purposeful leadership.
To build upon that projected and strategic message – President Trump seeded the background by appointing Ambassador Terry Branstad, a 30-year personal friend of President Xi Jinping.
To enhance and amplify the message – and broadcast cultural respect – U.S. President Trump used Mar-a-Lago as the venue for their visit, not the White House. And President Trump’s beautiful granddaughter, Arabella, sweetly serenaded the Chinese First Family twice in Mandarin Chinese song showing the utmost respect for the guests and later for the hosts.
Why the constant warm messaging?
What is the purpose?
What does all this have to do with a trade confrontation?
