During a mid-afternoon session at the U.S. embassy’s Roosevelt House in New Delhi, India, President Trump met with U.S. and India business leaders. The president cancelled his prepared remarks to the business investors, instead he took questions from roundtable participants.

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Day two of the President Trump and First Lady Melania visit to India holds a very busy schedule including: a welcome ceremony in New Delhi; a tree planting ceremony in New Delhi; a social lunch; a set of bilateral diplomatic meetings; a joint press conference; a business roundtable and a full state dinner.

SCHEDULE
11:10pm ET / 9:40am Local – THE PRESIDENT and THE FIRST LADY depart the Grand Presidential Suite of the ITC Maurya en route to Rashtrapati Bhavan, Presidential Palace, New Delhi, India
11:25pm ET / 9:55am Local – THE PRESIDENT and THE FIRST LADY arrive at the Rashtrapati Bhavan, Presidential Palace, New Delhi, India
11:30pm ET / 10:00am Local – THE PRESIDENT and THE FIRST LADY participate in a Welcome Ceremony, New Delhi, India
11:50pm ET / 10:20am Local – THE PRESIDENT and THE FIRST LADY depart Rashtrapati Bhavan, Presidential Palace en route to Raj Ghat, New Delhi, India
12:05am ET / 10:35am Local – THE PRESIDENT and THE FIRST LADY arrive at Raj Ghat, New Delhi, India
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White House Manufacturing and Trade Advisor Peter Navarro has been advocating for a return to U.S. production of medical products as a matter of national security.  With the spread of the Chinese Coronavirus and a rapid depletion of medical response products, Navarro’s concerns carry more weight than ever before.
President Trump has tasked Navarro with lead position coordinating the administration response to U.S. supply chain impacts.  In this interview with Charles Payne, Peter Navarro outlines the ongoing efforts to address all Coronavirus impacts.

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On the economic front President Trump has positioned the U.S. to withstand supply chain disruption better than most consumer economies. Starting from a position that the U.S. was too dependent on Chinese products; over the past two years Trump has pressured companies to return to the U.S. or find alternate suppliers outside China. During the two-year tariff battle many companies did exactly that. As a result those companies are not dependent on Chinese component goods. A proactive position is now helping many U.S. companies avoid the China economic contagion, and insulating their business interest.
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As guests of India’s Prime Minister Narendra Modi, President Trump and First Lady Melania attend the “Namaste Trump Rally” at the massive Motera cricket stadium. The first family was serenaded along the route by artists and floats, depicting India’s diversity.
The massive stadium was filled with an estimated crowd of 125,000.  A transcript of President Trump’s speech below.

[Transcript] PRESIDENT TRUMP: Namaste! Namaste. (Applause.) And hello to India. This is such a great honor. Let me begin by expressing my profound gratitude to an exceptional leader, a great champion of India, a man who works night and day for his country, and a man I am proud to call my true friend: Prime Minister Modi. (Applause.)
The First Lady and I have just traveled 8,000 miles around the globe to deliver a message to every citizen across this nation: America loves India, America respects India, and America will always be faithful and loyal friends to the Indian people. (Applause.)
Five months ago, the United States welcomed your great Prime Minister at a giant football stadium in Texas, and today, India welcomes us at the world’s largest cricket stadium right here in Ahmedabad. (Applause.) It is a profound honor to be the beautiful new stadium, to be here with you — Motera Stadium. So beautiful. (Applause.) And joined by so many distinguished guests from all across your nation and all across the world.
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President Trump and First Lady Melania arrive in India for a two-day state visit.  The Trumps’ were greeted upon arrival with full pageantry and personal warmth by Prime Minister Modi.  WATCH:

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White House Trade and Manufacturing Advisor Peter Navarro has an interview with Maria Bartiromo to discuss potential U.S. supply chain issues and the need to reorient our medical equipment manufacturing back to North America.   As Navarro highlights the Chinese communist govt recently nationalized an American medical manufacturing company and commandeered all of their products. An important discussion.
Additionally, Navarro discusses the ongoing administration effort to combat incoming fake products from China still estimated to be over ten percent of all imports.

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National Economic Council Director Larry Kudlow appears on CNBC for an extensive interview on upstream economic issues.  With China’s economy at a standstill; and with the troubles of the coronavirus spreading outward; what does that mean for us?
There’s some good questions in this interview.  Domestically, as we noted yesterday, the U.S. economy is strong and growing. However, the Wall Street multinationals are very exposed to the China issues. On the bright side the overall China issues are helping to push more corporate decisions toward domestic investment and away from Beijing.

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Given these lessons being learned, I sure wish we didn’t have China involved in making our medicines and medical products.  The administration needs to look at this more.
Director Kudlow also appeared on Fox Business with Lou Dobbs.
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The potential for supply chain disruption as a result of China dealing with the Coronavirus, and almost a complete shutdown of their manufacturing economy, is looming heavy upon Wall Street multinationals invested in China.
However, tangentially related, as a result of USMCA we are now seeing signs of shifted investment into North America and increases in forecasts for U.S. manufacturing.

(Via CNBC) […] Early in the week, New York’s Empire State Manufacturing Survey for general business conditions posted a reading of 12.9, up 8 points from January and its best level since May. New orders surged to 22.1, the highest since September 2017, and shipments rose to 18.9, the best since November 2018.
On Thursday, the Philadelphia survey exploded 20 points higher to 36.7, the highest since February 2017. New orders hit their highest since May 2018. (more)

The Philadelphia FED tracks factory orders in eastern Pennsylvania, Southern New Jersey, and Delaware.  New orders in that region soared far higher than all expectations, reflecting a strong consumer-driven economy with ongoing purchases of durable goods.
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UPDATE:  Appointment Confirmed
Lots to unpack here.  Maggie Haberman is warning resistance allies in the Senate to prepare all defensive weapons against a possible Trump appointment of Ric Grenell as  Director of the Office of National Intelligence (ODNI).
Grenell currently serves as the U.S. Ambassador to Germany.  He can serve as “acting” ODNI, but to become permanent ODNI he would need to survive confirmation railroading by the Senate Select Committee on Intelligence (SSCI), Chairman Richard Burr and Vice Chair Mark Warner.  The SSCI is deep swamp and and participated in the coup effort against the office of the president.  The SSCI has a vested interest in controlling the ODNI position; hence their prior blocking of Representative John Ratcliffe.

[Via New York Times] … Mr. Grenell, whose outspokenness throughout his career as a political operative and then as ambassador has prompted criticism, is a vocal Trump loyalist who will lead a group of national security agencies often viewed skeptically by the White House.

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Earlier on Tuesday, President Donald Trump received a briefing from the U.S. Olympic and Paralympic Committee and Los Angles 2028 organizers.
Participating in the briefing was President Donald J. Trump; Jared Kushner, Assistant to the President and Senior Advisor; Daniel Scavino, Assistant to the President and Director of Social Media; Secretary Steven Mnuchin, Department of the Treasury; Acting Secretary Chad Wolf, Department of Homeland Security; Senator Lindsey Graham, South Carolina; and Representative Kevin McCarthy, House Minority Leader, California’s 23rd
External Participants: Casey Wasserman, Chairman, Los Angeles 2028 Olympic Committee; Sarah Hirshland, CEO, United States Olympic Committee; John Harper, COO, Los Angeles 2028; Danny Koblin, Commercial COO, Los Angeles 2028; Dean Christopher, Senior Advisor for Finance, Los Angeles 2028; and Doug Arnot, Senior Advisor for Games Operations, Los Angeles 2028

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