Every quarter, CNBC surveys its Global CFO Council to gain insight into the status of the current global economy. The CFO council is comprised of Chief Financial Officers of the world’s largest 113 companies that combined are worth nearly $5 trillion. Interestingly the council is comprised almost exclusively of multinational corporations who are generally opposed to President Trump’s MAGAnomic trade reset.
However, in the third quarter survey the CFO’s note that only one economy in the world is currently improving, the United States. (more…)
During a U.N. press conference President Trump was asked if he rejected a meeting with Canadian Prime Minister Justin Trudeau. President Trump affirmed he did reject a meeting over the ongoing conflict within the U.S-Canada trade issues. CTH Readers will likely remember when President Trump was going to announce the U.S-Mexico trade deal, Trump attempted to call Trudeau in advance. Justin from Canada rejected the phone call.
. Justin and Chrystia from Canada have made a political decision to reject any trade negotiations in favor of using conflict with President Trump to aide their domestic political agenda. Justin and Chrystia are counting on U.S. political opposition to block POTUS Trump from ending the tri-lateral NAFTA deal.
However, what Justin and Chrystia have not considered (nor anyone else), was U.S. Commerce Secretary Wilbur Ross and President Trump anticipated a political approach several months ago. No-one dissects the details within a contract better than Commerce Secretary Wilbur Ross. He is legendary in the business world for this specific skill-set. (more…)
There has been a great deal of background activity in the past 72 hours surrounding the U.S. and Canada trade negotiations. However, some of that activity has become more brutally obvious; a deal is not likely to happen.
Against growing visibility the Canadian team of Justin Trudeau and Chrystia Freeland were intent on using opposition to Trump for maximum domestic gain, President Trump declined a bilateral meeting with Justin from Canada at the U.N. General Assembly; and today U.S. Trade Representative Robert Lighthizer told a group an agreement was unlikely.
Additionally, in a video taken today during the U.N. luncheon it is clear President Trump has no time for the political schemes of Justin Trudeau. The moment happens at 02:45 of the video below:
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It is difficult to see from the video above, however in the camera angles below it is much more transparent. (more…)
President Trump has empowered South Korean President Moon Jae-in to be the tip-of-the-spear for friendship-based face-to-face negotiations with North Korea with the goal of a denuclearized peninsula.
Though it was a very unconventional approach, President Trump created the foundation for stability and amicable regional relationships by fracturing the controlling influence of Beijing, China over Chairman Kim Jong-un. Amid many international accomplishments, the results in North Korea are a truly remarkable exhibition of how the Trump doctrine uses economic power to achieve national security objectives.
During the public bilateral discussion, President Moon Jae-in carries a message to President Trump from Chairman Kim Jong-un; and President Trump announces the likelihood of a second summit with Chairman Kim in the “not-too-distant” future.
President Donald Trump and President Moon Jae-in participate in a signing ceremony for the United States-Korea Free Trade Agreement (KORUS) at the United Nations in New York. Anticipated start time 3:45pm – 4:00pm EST UPDATE: Video Added
Chairman of the Council of Economic Advisers, Kevin Hassett, appears on Fox News to discuss the overall economy and key performance indicators related to ongoing economic policy. Within the interview (02:32) Chairman Hassett notes the unusual intransigence of Canada to join the U.S-Mexico trade deal.
There are numerous indicators that Canada has made the decision to exploit a “no deal” trade position for maximum domestic political benefit. However, despite Canada’s intransigence the U.S. and Mexico are positioned to finalize the agreement bilaterally.
“I’m a little surprised that the Canadians haven’t signed up yet. I worry that politics in Canada is trumping common sense because there’s a very good deal that was designed by Mexico and the U.S. to appeal to Canada. And they’re not signing up and it’s got everybody over here a little bit puzzled.”
. Supporting the U.S. and President Trump today; and underlining how strong the U.S-Mexico trade agreement is; Mexico even went so far as to tell Canada today to be ready for a CAN-MEX bilateral if they don’t join.
Obviously the Mexican trade team is firing a few shots across the Canadian bow; astunning Trumpian-inspiredshift in North American trade alliances.
MEXICO CITY (Reuters) – Mexico’s incoming government will pursue a bilateral deal with Canada if talks to overhaul the North American Free Trade Agreement falter, Mexican president-elect Andres Manuel Lopez Obrador said on Friday.
Foreign Minister Chrystia from Canada is in Washington DC today meeting with U.S. Trade Representative Robert Lighthizer. There are conflicting reports as to the possibility of a trade deal being reached. Canada is heavily relying on internal pressure from the U.S. Chamber of Commerce lobbying group to sway/leverage the negotiation in their favor.
From the Canadian negotiation position every syllable and syntax is viewed through the prism of politics. From comments amid all the Canadian participantsand interests, they view President Trump as the only adversarial U.S. entity in the bilateral discussion. As a consequence of this outlook, all Canadian leverage efforts are targeted toward political opposition of President Trump; with assistance from a U.S. congress that has been purchased by Wall Street lobbyists to align with Canada against U.S. interests.
Peel all the layers away and ultimately this is the political position from which Canada is negotiating. All-in-All, the most likely outcome is NO DEAL.
In order for Canada to accept or join, via a NAFTA 2202 modification, they would need to agree to the U.S-Mexico modification terms. For Canada they would have to: (more…)
White House National Trade Council Director Peter Navarro appears on Lou Dobbs show to discuss the Trump administration’s round-two 10 percent tariffs on $200 billion of Chinese goods. The percentage jumps to 25% on January 1st, 2019.
Earlier today President Trump hosted a meeting with the key administration officials executing the workforce initiatives programs. The programs include expanded vocational training, private-public partnerships for education, and expanded investment in skills training for a modern American workforce.
The National Council for the American Worker is the executive agency tasked with execution of the policies and working with various state and local officials to help increase the skills training for U.S. workers. With a MAGAnomic expanding economy; and with all of the subsequent jobs growth; and with a revitalization of U.S. manufacturing; the workforce initiatives are keys to sustaining successful growth for American workers.
