President Trump is holding a White House event to support Farmers and Ranchers and announce a transitionary aid package to help during the restructuring of the global supply chain and a reset in U.S-China engagement. Anticipated start time 3:15pm EDT.
Quite a remarkable presser.
UPDATE: Video Added
The headlines are once again examples of an ideological media. “Stunning”, “surprising”, “unexpected”, etc. However, far from the headline ideology; in a result that is splendidly falling into place for a much more consequential geopolitical landscape; things are going swimmingly…
Reuters Headline: “India’s Modi stuns opposition with huge election win”
NEW DELHI/AYODHYA (Reuters) – Indian Prime Minister Narendra Modi scored a dramatic election victory on Thursday, putting his Hindu nationalist party on course to increase its majority on a mandate of business-friendly policies and a tough stand on national security.
His re-election reinforces a global trend of right-wing populists sweeping to victory, from the United States to Brazil and Italy, often after adopting harsh positions on protectionism, immigration and defense.
Steve Bannon appears on Fox Business news to discuss his new label as global “demon” to Beijing for Bannon’s strategic opposition to the rise of Chinese dragonomics.
Louisiana congressional representative and house minority whip Steve Scalise discusses current trade and economic initiatives from President Trump’s agenda. Representative Scalise outlines the importance of the challenge to China and the benefits within the USMCA agreement.
Beyond the economics, Scalise notes the recent report about running for Louisiana governor stemmed from a short, off-the-cuff, conversation with President Trump and he dismisses the seriousness of the discussion.
President Trump gave a lengthy interview to Steve Hilton on a variety of topics.
Commerce Secretary Wilbur Ross has to be the coolest cat in the crew. On May 15th at 6:00pm Ross blacklists Chinese Company Huawei, requiring Commerce Dept. licensing prior to any “American technology transferring to a company or person on the Entity List.” An hour later… Wilbur Ross is chillin’ in the East Room at a black tie dinner:
President Trump […] … And Wilbur had a very big day today. You probably have read about it. It came out at about 6 o’clock in the evening. So, we’re surprised to see you here, Wilbur. You should be working right now, Wilbur — (laughter) — wherever you are. (link)
The Chinese communists hate U.S.T.R. Lighthizer, but I bet they tremble more over Ross.
NEW YORK (Reuters) – Alphabet Inc’s Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told Reuters on Sunday, in a blow to the Chinese technology company that the U.S. government has sought to blacklist around the world.
Notice how Wallace never interrupts a Wall Street Decepticon? Senator Pat Toomey (U-CoC) and swamp gatekeeper Chris Wallace discuss tariffs on China, the immigration crisis and a possible threat from Iran.
Michigan Republican Congressman Justin Amash made headlines Saturday by declaring on Twitter that President Trump deserved impeachment. The media was quick to promote his position and advance an anti-Trump narrative. However, a review of Amash’s financial interests quickly reveals a very personal business motive. His family tool business is heavily invested in Chinese manufacturing.
In his 2017 financial disclosure forms (pdf here), Representative Amash reports income of between $100,000 to $1,000,000/yr. for his ownership stake in Michigan Industrial Tools. Michigan Industrial Tools is the parent company, manufacturing in China, that produces Tekton Tools, Justin Amash’s Michigan family business.
According to an earlier Michigan article “Amash is a co-owner of Dynamic Source International, a Chinese company that supplies Michigan Industrial Tools.” A visit to the website of Dynamic Source International (link) shows the company operates “manufacturing and factory facilities located in Hangzhou, capital city of Zhejiang Province”, China.
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Further evidence there will be no further engagement with China surfaces in an announced specific shift in directive from President Trump today focusing Commerce Secretary Wilbur Ross and USTR Lighthizer on a sector, not a specific nation.
The auto industry is the key sector on two specific trade fronts: the EU trade reset and the ongoing negotiations with Japan. Both trade agreements center heavily on the auto-sector; and both Japan and the EU have cemented intransigent trade positions.
Enter President Trump to cut the Gordian knot.
It’s a small but important note that President Trump had previously assigned geographic trade responsibilities. Wilbur Ross has the EU as his primary focus and Robert Lighthizer has authority over Asia. Today the White House connects the objective of both Ross and Lighthizer as President Trump instructs the U.S. Trade Representative to engage in discussions around the specifics of the auto-sector:
White House – […] Following an extensive review of the Department of Commerce’s Section 232 automobile report, President Trump today issued a proclamation directing the United States Trade Representative to negotiate agreements to address the national security threat, which is causing harm to the American automobile industry. (more)
The President has designated the auto industry as a critical component of national security [More Here]. With Ross’s report in hand, the possibility of increasing tariffs on foreign automobiles is the leverage POTUS gives to Lighthizer along with the mandate to engage.
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President Trump delivers remarks to the National Association of REALTORS Legislative Meetings and Trade Exposition.