There are Trillions At Stake.   There is no upper limit to what congress is willing to do to stop President Trump from turning off the lobbyist funding.  Without influence in DC there can be no affluence in DC.  That’s why McConnell cancelled the recess.

If the president continues to remain focused exclusively on what is in the U.S. best interests, he must be stopped.  Politicians in DC cannot just sit-by and allow the U.S. economy to be based on the interests of Americans; it would mean the destruction of years of central planning by DC Lobbyists, multinational banks, Wall Street and multinational corporations.

WASHINGTON DC – Senate Majority Leader Mitch McConnell (R-Ky.) said Tuesday that he will not bring up a freestanding bill to push back on President Trump’s trade agenda, but that GOP senators might be able to add it as an amendment to other legislation.

Support among Republicans has grown for legislation backed by Sens. Bob Corker (R-Tenn.) and Pat Toomey (R-Pa.) that would give Congress power to authorize or reject any new tariffs imposed because of national security concerns.

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The essential argument made by Prime Minister Justin Trudeau during this interview was already addressed in the preview segment prior to broadcast – SEE HERE –  However, here is the full interview as broadcast on NBC Meet The Press with Chuck Todd.

The interview is a typical narrative engineering attempt by Chuck Toad; however, beyond the narrative, for those who pay close attention to the economic issues, there are some key elements which deserve attention:

• @04:05 Trudeau admits the problem with corporate transshipment of Chinese Steel into the U.S. market – through Canada via the NAFTA loophole.  While Justin from Canada frames the issue from their own national efforts to stop the practice, you’ll note how he avoids taking ownership…. it’s called ‘willful blindness‘.
• More importantly at @08:17 the topic of NAFTA surfaces. Pay close attention.  Not only does Trudeau speak in past tense (reinforcing the reality that all parties have accepted that NAFTA is essentially dead), but moments later @09:00 he admits the Canadian trade and manufacturing economy is set up as a brokerage (ie. multinational corporate investment) dependent, exclusively dependent, on access to the U.S. market.

WATCH:

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Once you see the strings on the marionettes, you can never go back to a time when you didn’t notice them.

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White House Director of Trade Policy Peter Navarro appears on Fox News with Maria Bartiromo to discuss U.S. trade policy, steel and aluminum tariffs.

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Canadian Prime Minister Justin Trudeau and Foreign Minister Chrystia Freeland begin a U.S. media grievance tour to frame a narrative around the recent Steel and Aluminum tariffs.

The Canadian duo intentionally conflate a U.S. objective to secure the Steel and Aluminum industrial base into a narrative that the U.S. is targeting Canada as a security threat.  Despite this shamefully obtuse argument the majority of Canadians and the vast majority of Americans can see right through this nonsense.  Trudeau and Freeland should be ashamed (but they won’t be), watch:

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Canada and Mexico have both structured their international trade deals around their ability to provide access to the coveted $20 trillion U.S. market. Rather than fix the fatal flaw in NAFTA, which would cost them billions, both nations have doubled down with demands that their dependency model be allowed to continue. They are both about to discover the catastrophic consequences to that decision. Their economic losses will now be exponentially larger as an outcome of their entrenched ideology.

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Interesting delegation to accompany Secretary Ross: treasury, agriculture and energy. Small delegation, short trip, sounds like contract discussions.

From Camp David –  Today, President Donald J. Trump announced the members of an official delegation from the United States to China to discuss rebalancing the bilateral economic relationship between the United States and China.

These meetings will take place from June 2 through June 3, and are a continuation of the talks held in Beijing one month ago and in Washington two weeks ago.

Secretary of Commerce Wilbur Ross will lead the discussions, accompanied by United States Ambassador to China Terry Branstad, Under Secretary of Treasury for International Affairs David Malpass, Under Secretary of Agriculture for Trade and Foreign Agricultural Affairs Ted McKinney, and United States Trade Representative Chief Agricultural Negotiator Ambassador Gregg Doud.

Additional officials and technical experts from the Department of Commerce, Department of Treasury, United States Trade Representative, Department of Agriculture, and Department of Energy will also participate in the talks.  (link)

NBC is promoting an upcoming interview with Canadian Prime Minister Justin Trudeau surrounding the recently imposed steel and aluminum tariffs and the Canadian response.

Justin from Canada continues pushing the ridiculously obtuse narrative that tariffs to protect the U.S. steel and aluminum industry represent President Trump saying Canadians are a national security threat to the U.S.

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It’s too bad NBC’s Chuck Todd didn’t interrupt Justin from Canada after the “aluminum smelter” comment and ask: ‘well, now that you mention it, what ever happened to that smelter near the airbase you mention’?

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The Bureau of Labor Statistics released the May Jobs Report earlier today (pdf here) and has stunned forecasters and economic analysts with incredible results.  Over 223,000 jobs were created in May, and the unemployment rate drops to 3.8%.

As the New York Times is forced to admit, there are not enough words to describe just how good these results are amid the continued growth of the U.S. economy. Accepting the BLS heavily manipulated jobs numbers during the Obama years, the BLS is forced to attempt to reconcile the scale of monthly job gains (223k) and an unemployment rate that has seemingly dropped below the floor of reasonable possibility.  As a result 3.8% is the lowest unemployment rate since April 2000; and if the unemployment rate drops another 0.1% it will be the lowest unemployment number since the 1960s.

Average monthly employment growth in 2018 now averages a whopping 207,000 jobs per month.  These monthly average gains are faster than gains in both 2016 and 2017.  Collectively, the U.S. economy has added nearly 3 million jobs since President Donald J. Trump took office.

White House:  “Job growth has been strong across the board during the first 16 months of this Administration, and the gains in the goods-producing industries (manufacturing, construction, and mining and logging) have been especially robust. After averaging gains of 27,000 jobs per month during President Obama’s second term, these industries have almost doubled the pace of hiring to 46,000 jobs per month since January 2017. Manufacturing gains have picked up even more speed: Monthly gains have averaged 19,000 per month since President Trump took office after increases of only 8,000 per month, on average, during the second term of President Obama.

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Justin from Canada presents one of the most ridiculous contexts for the U.S. 232 Steel and Aluminum tariff decision. Justin proclaims the imposition of countervailing duties by the U.S. indicates that President Trump considers Canada a national security threat. Seriously, I’m not kidding, that’s what he is stating – watch.  Additionally, his feelings are hurt.

Apparently Justin from Canada cannot draw a distinction between an industry being lost, and that loss being a national security risk, and the hurt feelings of the Canadian Prime Minister. Intensely ridiculous… even for Justin. Obviously the irrational liberals in both the U.S. and Canada will likely draw the same ridiculous and illogical conclusions.

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China, the EU, Canada and Mexico have been exploiting weak U.S. trade policy for years. Through the effective utilization of targeted tariffs, with multiple opportunities -and warnings- to avoid the outcome, President Trump and Wilbur Ross cut the Gordian Knot.

The Big Club, driven almost entirely by the U.S. Chamber of Commerce and Tom Donohue are going bananas….. They can’t believe Trump actually did it. He actually followed through. The Wall Street consortium of multinationals are apoplectic.

Decades of economic gaslighting upon the U.S. electorate; massive manipulative multinational corporate influences; hundreds of millions spent purchasing U.S. politicians; and POTUS has just punched it all square in the face.

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Amid ongoing trade stalemates with NAFTA and the EU, Commerce Secretary Wilbur Ross has announced the U.S. Commerce Department will no longer provide exemptions for the European Union, Canada or Mexico.

As anticipated, during a telephone briefing with reporters Secretary Ross announced at midnight tonight the 25% steel, and 10% aluminum, tariffs on imported goods will begin.

Via Reuters: U.S Commerce Secretary Wilbur Ross told reporters on a telephone briefing that a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports from the EU, Canada and Mexico would go into effect at midnight (0400 GMT on Friday).

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The Wall Street Journal is publishing a report the European Union is likely to lose their exemption on Friday June 1st, from the U.S. Steel (25%) and Aluminum (10%) tariffs. Despite their article outline almost everything is still speculation at this point; however, our own review of the trade position indicates the administration is very prepared to begin delivering the metal tariffs on all nations, including NAFTA partners, without reservation.

President Trump positioning the auto-industry 232 review, May 23rd, was one of the key ‘leverage signals‘ something was about to change.

Despite massively one-sided EU imposed tariffs against U.S. products, the EU is demanding to be permanently exempted from any U.S. reciprocal tariff measures or they will block the import of U.S. products. The hypocrisy is typically European.

Adding fuel to the speculation the tariff exemptions will be allowed to expire Commerce Secretary Wilbur Ross stated earlier today, at the Organization for Economic Co-operation and Development (OECD) summit – a multinational trade conference, that any/all trade discussions are entirely possible regardless of whether the U.S. begins the tariff against steel and aluminum imports.

WSJ – […]  Mr. Trump has threatened to punish EU car exports if the bloc retaliates, and Mr. Ross is pursuing a study of car and auto-part imports similar to the one he completed on steel and aluminum.

Officials in some EU member states are already angry at Washington over Mr. Trump’s decision to pull out of the Iran nuclear deal. Still, others, including some German officials, want to seek a solution that prevents economic damage.

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