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NEC Chairman Larry Kudlow Discusses USMCA and U.S-China "Phase One" Trade Deal…

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.
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USTR Releases Summary "Fact Sheet" Outlining U.S-China Phase One Agreement…

U.S. Trade Representative Robert Lighthizer has released a two-page summary fact sheet [pdf link here] outlining the “Phase-One” agreement in principal.  From research into the material the principal agreement appears to be an 86-page document covering nine chapters.  The fact sheet covers the top lines of seven chapters:

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Antifa Leftists Riot in London Following Massive Election Loss…

Following a major election victory for conservatives in the U.K. the Antifa-left start rioting in the streets again.  Proving once more that socialists do not accept election outcomes.
The vitriolic response from the British socialists resembles an almost identical response following the 2016 election victory of President Trump.  Same groups, same political ideology, same behavior, same violence, rage and expressed anger.

The inability of the progressive left to accept the outcome of an election is identical in both the U.K and the U.S.  Calling Boris Johnson a racist and attempting to delegitimize the election outcome has a ring of familiarity for Americans.
The decades of their united globalist efforts to tear at the very fabric of nationalism is being eliminated. The radical socialists have nothing to lose; the media is sympathetic to their objectives; their desperate need for a collectivist society is visible within their apoplexy.  They are afraid of the individual accountability that comes with freedom, and they’re damn sure displaying it.
Do not look away.
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Senator Kennedy asks President Trump to Declassify FISA Application…

The original requests to declassify the Carter Page FISA application came in January 2018 as a result of the Nunes memo.   A classified and heavily redacted version of the application was released July 21st, 2018.  A month later, in August 2018, Congress again requested the Trump administration to declassify the document(s).
In September 2018 DAG Rod Rosenstein told the President if he followed through with the request Special Counsel Mueller would consider that an obstruction of his investigation:

As a consequence of the Rosenstein threat President Trump reversed course (tweets above) and announced after Horowitz completed his investigation the FISA would be declassified and released.
The mid-term elections were held in November 2018; democrats took over the House.
In March 2019, after the Special Counsel finished his investigation, a now minority in congress again formally asked President Trump (3rd time) to declassify the FISA application.
On May 23rd, 2019, President Trump announced he was giving Attorney General Bill Barr the authority to declassify the FISA application, timed to support the IG investigation:
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Brilliantly Played – President Trump and USTR Lighthizer Present "Phase One" U.S-China Trade Deal…

It is exactly as we thought it would be.  There are multiple interests, nuances in details, a completely overlooked big picture, and the financial pundits are flummoxed.
CTH has followed the granular details over several years. In advance of a “phase one” announcement we noted a necessary paradigm shift needed to understand most of the dynamics at play [SEE HERE]. It is all going according to a very visible plan.  President Trump tweets:

China has agreed to a $40 billion agricultural purchase from the U.S.  In exchange for that purchase President Trump will be maintaining the full 25 percent tariffs on approximately $250 billion of Chinese imports and reducing to 7.5 percent the tariffs on approximately $120 billion of Chinese imports (round two).  [Those were 15% prior to reduction]
The net difference (dropping 15% to 7.5%) is around $9 billion in tariff relief.  Additionally, the U.S. is “suspending” the December 15th tariffs pending compliance verification with the non-tariff issues and China pledges.
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President Trump Press Availability Prior to Bilateral Meeting With President Abdo Benitez – Video and Transcript…

President Trump hosts a press availability prior to a bilateral meeting with President Abdo Benitez of Paraguay.  [Video and Transcript Below]


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[Transcript] – PRESIDENT TRUMP: Well, thank you very much. It’s great to have the President of Paraguay here. We’re doing a lot of work with Paraguay on terrorism, on drugs, on trade — a lot of different things. And we’ve had a great relationship. So, Mr. President, it’s an honor to have you. Thank you very much.
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President Trump Congratulates Boris Johnson on Great Win: "Now be free to strike a massive new Trade Deal after BREXIT"…

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.
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Wakey Wakey – Exit Polls Show Landslide Conservative Boris Johnson Win in U.K. Elections – Open Discussion Thread….

A “landslide”, a complete “wipe-out”, a “massive victory” appears looming for Boris Johnson and the conservative party in the U.K. if exit polls are accurate.

These blowout results guarantee a faster Brexit from the European Union and the leftist labor party in the U.K. has been crushed.  Conservatives look to have picked up 50 seats and Labor has lost 71 seats; the Scottish National Party (SNP) has picked up 20.
The “Remainers” in the U.K. have been decimated, and the voters who want to “Leave” the EU have fueled a massive victory for Boris Johnson.  Liberal heads are blown-out, bigly.

(Via Daily Mail) Boris Johnson hailed his new blue-collar Tory army tonight as it emerged he is on track to secure a staggering landslide in the election battle – with Labour’s ‘red wall’ of Brexit-backing strongholds imploding.

A dramatic exit poll shows voters handing the Tories a massive 368 seats, with Labour languishing on 191 – down 71 on 2017 and the worst performance in modern history.

The bombshell numbers would give a huge Commons majority of 86, the biggest since Margaret Thatcher’s triumph in 1987, and are equivalent to a 10-point lead in the popular vote. (more)

This result also has massive ramifications for a U.S-U.K trade deal; and subsequently major leverage for the U.S. (independently) and a U.S. – U.K. alliance in future trade negotiations against the European Union.
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President Trump Tweets "Close" to Phase-One Deal with China…

President Trump is meeting with the wolverines to discuss the current status of terms for a “Phase One” U.S-China trade deal.  Additionally POTUS tweeted a deal was close:

As we have noted the general objective from President Trump on a “Phase One” deal is a $50 billion agriculture purchase from China that would allow the U.S. to discontinue the supplemental bridge payments to farmers using tariff income.  Details of this possible deal are unknown, but look for a delay in the next round of the December 15th tariffs to secure the Ag purchase.   President Trump will want a written purchase contract.
The financial pundits, most beholden to the needs of the Wall Street multinationals, are overestimating the scale and scope of issues likely resolved within “phase one”.   There is not likely to be resolution to the bigger issues in the U.S-China trade conflict.

Bloomberg reported: “U.S. negotiators offered to reduce tariffs on about $375 billion in Chinese goods by 50% across the board and suspend tariffs on $160 billion in goods scheduled to go into effect on Sunday.”

I would advise to take the Bloomberg report with a grain of salt; their Wall Street-centric voice generally tries to push narrative negotiations to the benefit of multinationals.
Instead, the Trump big picture common sense business approach is: the value of tariff reduction will be directly related to the value of a WRITTEN CONTRACT China purchase.
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President Trump Remarks at Hanukkah Reception and Signing of an Executive Order Combating Anti-Semitism – Video and Transcript…

Earlier today President Trump and First Lady Melania Trump hosted a Hanukkah Reception at the White House.  The event included a historic signing ceremony for an executive order combating anti-semitism.


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[Transcript] – THE PRESIDENT: Well, thank you very much. Thank you, everybody. And a friend of mine, Tim Scott, from South Carolina — a senator — where are you, Tim? You’re — there he is. And I said, “You know what, Tim? You have a big vote coming up. I think you want to go back to the Senate.” So I will tell you, without, Tim, this wouldn’t have happened. Tim Scott, thank you very much. We love you. Go back to the Senate and vote. (Laughs.) (Applause.) Thanks, Tim.
Melania and I are delighted to welcome so many friends and families to this incredible house, the White House, to celebrate this, really, sacred season and a very special time. To everyone here today: Happy Hanukkah. (Applause.)
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