As President Trump departs the White House en route to the G7 meeting in France, White House Manufacturing and Trade Policy Advisor Peter Navarro appears on Fox Business for an interview to discuss the latest round of enhanced tariffs on China.

(White House) For many years China (and many other countries) has been taking advantage of the United States on Trade, Intellectual Property Theft, and much more. Our Country has been losing HUNDREDS OF BILLIONS OF DOLLARS a year to China, with no end in sight.

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President Trump has announced the raising of tariffs on China effective Sept 1st and October 1st, 2019.  This is one arrow in a quiver filled with economic consequences:

• The preexisting 25 percent tariff on $250 billion in Chinese goods will increase to 30 percent effective October 1st, 2019.
• The pre-planned 10 percent tariff on $300 billion worth of Chinese goods will increase to 15 percent, effective September 1st, 2019.

This targeted tariff approach is only a small sample of the economic action that is available to President Trump.  There are a host of tools and targeted economic weapons available to President Trump that are far more damaging to Beijing.
This announcement also sends a clear message to the members of the G7 as they prepare for their meetings in France.
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Within the dynamic of the U.S -vs- China trade confrontation, CTH has long noted the Wall Street (globalist) multinationals would always go bananas.  There are trillions at stake and President Trump is confronting three decades of financial influence from Wall Street’s multinational corporate lobbyists.
To the angst of Wall Street, POTUS Trump tweets the dynamic.
President Trump will not back down from his position; the U.S. holds all of the leverage and the issue must be addressed.  President Trump has waited three decades for this moment.  Main Street U.S.A has waited for this moment.  This President and his team are entirely prepared for this battle…. Now we fight!

We are finally confronting the geopolitical Red Dragon, China!
President Trump has been brutally consistent for more than three decades on his intent and purpose with the Chinese.  President Trump is the first U.S. President to understand how the red dragon hides nefarious motives behind the panda mask.
Additionally, while carrying out the objectives of the confrontation, Secretary Mnuchin, Secretary Ross, Ambassador Lighthizer and adviser Peter Navarro are well aware of Beijing’s duplicitous panda mask; POTUS Trump will never let them forget about it.
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Well, they cannot later claim they were not warned.  In a series of stunning tweets today, President Trump directly tells U.S. companies manufacturing goods in China, they need to make rapid plans for exit.

Earlier today China’s commerce ministry said it will impose additional tariffs on thousands of U.S. products, including agricultural products, crude oil, small aircraft and cars. Tariffs on some products would take effect on Sept. 1 and others on Dec. 15.
The Wall Street multinationals are exposed to significant losses because of their investments in China.  White House trade and manufacturing policy advisor Peter Navarro appeared on Fox Business with Maria Bartiromo to discuss the dynamic.

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National Economic Council Chairman Larry Kudlow appeared on Fox Business today to discuss the current state of the economy.  Mr. Kudlow was questioned about several media reports surrounding discussions of new tax cuts, tax rate modifications and tax policy.
Additionally, Kudkow updates the latest position on the U.S-China trade discussion.

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God bless Secretary of State Mike Pompeo for having the diplomatic restraint to stand next to the absolute worst diplomat on the planet and retaining his cool.  Canadian Foreign Minister Chrystia Freeland stands atop her proverbial high-horse and pontificates a diatribe that only a smug leftist can deliver.
If you are familiar with world events,… and you don’t want a blood pressure cuff to explode,… then don’t watch this joint press conference. [Transcript likely later today]  If you’ve ever watched two diplomats pretend to have any commonality, while simultaneously jabbing each-other in the eye, this is an audio-visual exhibition:

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To say the Trump administration and Trudeau administration are ideologically oil and water would be the understatement of the year. The U.S. and Canadian, political, cultural, geopolitical and economic outlooks are entirely divergent.
That reality is one of the reasons why an open U.S. Ambassador to Canada position is unlikely to be filled.  Seriously, who wants to talk to these smug and condescending jerks?
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The Wall Street pundits are having a harder time pushing their recessionary economic narrative while the results from Main Street continue to beat expectations.  Two data points continue to highlight the strength of Main Street: Home Sales and Wage Gains.

President Trump’s MAGAnomic policies are focused on delivering results to the middle-class worker and family.  The middle-class American is the engine for a Main Street economy.  Growing the middle-class is the key to strengthening the U.S. economy and blocking negative global economic influence.  Growing the middle-class is how the U.S. economy continues to be self-sustaining. [We buy/use 80% of our own production.]
Today The National Association of Realtors released data showing existing home sales rose 2.5% to a seasonally adjusted annual rate of 5.42 million units in July.  Forecasters only expected 5.39 million units.  The U.S. Main Street housing market is very strong.

Because the results defy pundit expectation, Reuters has to ignore the strength of Main Street and put the Wall Street spin on the results.  The efforts to keep pushing a negative economic narrative are intense [Trillions At Stake]:

WASHINGTON (Reuters) – U.S. home sales rose more than expected in July, boosted by lower mortgage rates and a strong labor market, signs the Federal Reserve’s shift toward lower interest rates was supporting the economy.

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According to the White House:

President Donald J. Trump spoke by telephone with Prime Minister Boris Johnson of the United Kingdom earlier today to discuss a wide range of trade and economic issues. Prime Minister Johnson also provided the President with an update on Brexit. The President expressed great enthusiasm for his upcoming meeting with the Prime Minister at the G7 Summit in Biarritz, France. (link)

The G7 is being held August 24th – 26th.  The word of a tentative post-Brexit U.S-U.K trade agreement was first released last week. The potential construct has the assembly of mutual benefit and follows a plan previously recommended by President Trump to Prime Minister Theresa May.
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Earlier today President Trump, Melania Trump and Barron Trump arrived in Morristown, NJ, airport en route back to Washington DC.  Prior to boarding Air-Force-One the President delivered brief remarks and answered media questions for 36 minutes.
[Note: longer version of video provided to see young 13-year-old (very tall) Barron Trump as he arrives with Mom and Dad.  (Full Video (begin 6:45) and Transcript below)]

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[Transcript] – THE PRESIDENT: So, we had a lot of meetings yesterday on Afghanistan, on the economy — which is doing very well. We have the strongest economy, by far, in the world. The tariffs have cost nothing, in my opinion, or certainly very little. We have import prices from, and through, July — all the way through July. And they’re down 1.8 percent so that the import prices have actually gone down.
China is eating the tariffs because of monetary manipulation. And also, they’re pouring a lot of money into their country because they don’t want to lose jobs. They’re losing, as you probably know, because you reported it, but they lost over 2 million jobs in a short period of time. And they want to make a deal; we’ll see what happens. But they definitely want to make a deal.
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