White House Manufacturing and Trade Advisor Peter Navarro discusses the state of the U.S. economy heading into 2020. The Fox crew uses the strawman poll: “some people feel”, to create a narrative that cannot easily be countered; however, the reality in the economic stats cannot be refuted.
Main Street workers are confident; wages continue to increase; inflation is low – employment is high, consumer spending is strong and the future looks bright.
Peter Navarro discusses the Trump administration’s trade agenda and some predictions for the state of the Main Street U.S. economy heading into 2020.
Navarro highlights the completed agreements with South Korea, Japan, China phase-1, and the U.S., Mexico, Canada USMCA agreement and what they can deliver next year.
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It really is quite remarkable that President Trump and the economic team could simultaneously diminish the interests of multinationals, focus on Main Street USA, and still create a situation where Wall Street stocks are growing. (more…)
As expected the House of Representatives has passed the USMCA trade agreement with an overwhelming 385 to 41 vote. Pelosi’s political objective was to use USMCA to water down the toxic political environment created by her impeachment fiasco:
Also as expected, after passing the USMCA the House went into immediate recess for the Christmas holiday without any movement on the fraudulent impeachment articles.
In the time-frame between today and the return to the next congressional session in January, House lawyers will attempt to use the passage of the articles to support their background court cases: (1) McGahn forced deposition; (2) access to Mueller 6(e) grand jury information; and (3) possible access to Trump family financial records.
[PREDICTION for bookmark: Upon return in January Speaker Pelosi will refuse to allow impeached President Trump to deliver a State of the Union address in the House.] (more…)
Great interview with United States Trade Representative Robert Lighthizer as he described the goals, objectives and outcomes of the USMCA and U.S-China Phase One agreements.
While answering a question about Wall St. journal criticism of the USMCA, Lighthizer discussed the dynamic of Wall Street -vs- Main Street as part of the bigger picture objective in the revised deal. He avoids the words “globalism” -vs- “nationalism” but the sentiment as described is there.
On China Lighthizer emphasizes the “phase one” deal is really a test to see if it is even possible to have an enforceable trade agreement between a communist state-run economy (China) and a free-market economy (U.S).
At the same time Beijing is reportedly promising internal reforms to retain access to a vital and necessary U.S. market for Chinese goods, Beijing is threatening Germany if they block Huawei technology from their 5G network China will announce German autos are unsafe for import…. Chancellor Angela Merkel is in a pickle.
According to Bloomberg analysis, German automakers sold approximately seven million cars to China in 2018. The Chinese Ambassador to Germany said this weekend: ” “If Germany were to take a decision that leads to Huawei’s exclusion from the German market, there will be consequences. The Chinese government will not stand idly by.”
(SCMP) […] The Chinese ambassador in Berlin has stirred up a fresh controversy over the tech giant Huawei after he threatened “consequences” if it was excluded from Germany.
National Economic Council Chairman Larry Kudlow appears on Fox News for a discussion of the status of the U.S. economy, the USMCA and the U.S-China trade agreement.
The Wall Street GOPe, positioned primarily in the senate, are preparing to punish the administration for their restructuring of global trade against the backdrop of the senate influence over impeachment.
USTR Robert Lighthizer made a rare appearance in the media to discuss the “big picture”, and some specifics, around the U.S-China phase-one agreement.
Ambassador Lighthizer notes the principle challenge is generating an enforceable set of standards -within a written agreement- between a totally controlled communist economic system (China) and a free-market system (USA). No other nation has ever tried, and there is no preexisting trade agreement to facilitate a mapping. What Lighthizer is constructing will be what all nations will start to use going forward. This is historic stuff.
Arguably, next to President Trump, USTR Lighthizer is one of the most consequential members of the administration. What he is constructing, with the guidance of President Trump, is going to influence generations of Americans.
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[Transcript] MARGARET BRENNAN: This week, the U.S. and China agreed on the first phase of a trade deal that would roll back some American tariffs. It’s expected to be signed in early January. We’re joined now by the U.S. Trade Representative, Robert Lighthizer, the top negotiator in those talks with Chinese officials. Good to have you here.
U.S. TRADE REPRESENTATIVE ROBERT LIGHTHIZER: Thank you for having me, MARGARET. (more…)
Interesting: Tuesday budget vote. Wednesday Impeachment vote. Thursday USMCA vote.
National Economic Council Chairman Larry Kudlow appears with Maria Bartiromo to discuss the ratification of the USMCA and the U.S-China “phase one” trade deal.
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USTR Lighthizer appeared on CBS to discuss the China agreement, he goes into more detail. That conversation is coming next. (more…)
Last night President Trump congratulated Prime Minister Boris Johnson on his great win in the U.K. election, noting the possibilities for a big trade boost are “massive”:
Not accidentally, the geopolitical economic and trade planets have aligned splendidly. The cornerstone USMCA agreement has bipartisan support and will ratify quickly in congress. A “phase one” trade agreement with China is likely, and prior plans for a strategic trade deal with the U.K. have increased as a result of the U.K. election.
First rule in geopolitics, it’s always about the economics. Second rule in geopolitics: refer to rule #1. Understanding this basic truism is the key to understand how President Trump is able to be so effective. There are trillions at stake, and many interests.
“Economic security is national security.” ~President Trump
All politics circles back to the underlying economics; whether it is an individual financial self-interest for a specific politician, or whether it is a larger financial interest for a group or even a nation. Everything is always about the money; and that essential truth is why Donald Trump is so uniquely qualified, influential and stunningly effective. (more…)
U.S. Trade Ambassador Robert Lighthizer traveled to Mexico to put the finishing touches on the revised USMCA agreement. Ambassador Lighthizer delivered remarks at the signing ceremony hosted by Mexican President Andres Manuel Lopez-Obrador.
U.S. Trade Representative Robert Lighthizer stressed the United States has a stake in Mexico’s success as representatives from the United States, Mexico and Canada gathered in Mexico City to sign modifications to the USMCA, a historic trade agreement.
