President Trump’s MAGAnomic team have announced a 30-day extension for the Steel (25%) and Aluminum (10%) tariffs for the European Union, Canada and Mexico.

Also, after a prior agreement with South-Korea, the “KORUS” deal, team U.S.A. has also reached an agreement in principle with Australia, Argentina and Brazil which will be finalized in next 30 days.

Via Wall Street Journal – President Donald Trump has decided to postpone decisions about imposing steel and aluminum tariffs on the European Union and other U.S. allies until June 1, a senior administration official said.

In addition to announcing the delay, the White House is expected to say Monday evening that it has finalized a deal to exempt South Korea from the tariffs, mirroring details that have been previously released by the U.S. Trade Representative’s office.

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There is a geopolitical strategy happening this week that is essentially under the radar.

U.S. Treasury Secretary Steven Mnuchin, USTR Robert Lighthizer, Economic Council Chairman Larry Kudlow, and the U.S. trade team are heading to China.

The outcome of their discussions connects the initiatives behind North Korea, China and NAFTA.  The steel and aluminum tariffs are part of the toolbox.  Only one media personality, our favorite suspicious cat, appears to understand the larger economic play and how it is being deployed.

From the U.S. perspective, NAFTA has a fatal flaw. Mexico and Canada admitted the flaw for the first time a few weeks ago. The flaw is Mexico and Canada’s exploitation of NAFTA as a backdoor into the U.S. market for Asian, mostly Chinese, manufactured products. Multinational corporations who have invested in Canada and Mexico are determined to retain the flaw.

President Trump understands that as long as Canada and Mexico can unilaterally make trade agreements with the EU and ASEAN nations, any NAFTA agreement between the U.S., Canada and Mexico is moot. The NAFTA talks are paused.

The U.S. Team now heads to China. There’s no doubt part of the objective is to begin a structural discussion that must happen for the U.S. trade team to approach closing the fatal NAFTA flaw from the source of origin. [*note* on the EU side of this issue, Commerce Secretary Wilbur Ross is leading a similar discussion. Mnuchin and Lighthizer are focused on Asia, Ross has responsibility for Europe]

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The Bureau of Economic Analysis (BEA), who track GDP  -and-  U.S. Labor Department (DoL) Bureau of Labor and Statistics (BLS), who track wage growth, have released the initial sets of analysis for Quarter 1 of this year (Jan-March).   The first quarter growth in GDP comes in at 2.3%.  [Most estimates initially expected 2.0% or slightly less.]

CBS – […] It’s common for economic growth to slow in the first quarter and then accelerate later in the year. Still, the January-March increase was better than expected: Economists had foreseen a 2 percent annualized rate. In the current quarter, economists expect growth to surpass 3 percent.

The 2.3% first quarter result puts 2018 on track to achieve President Trump’s targeted growth rate: over three percent combined growth for the full year.   Due to seasonal fluctuations the first quarter is historically the weakest for GDP growth.  The second quarter will likely rebound well above 3.5% as the historic Q1 -vs- Q2 trend shows above.

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Wow. You have to watch this video to see how history was just encapsulated.

North Korean Leader Kim Jong Un and South Korean President Moon Jae-in meet at the village of Panmunjom, the historic site where the Korean War armistice was signed in 1953 for the start of talks between the two countries.

Their unified meeting is the third inter-Korean summit, but this meeting is the first time a leader from the communist North has entered the democratic South. South Korea then holds a welcoming ceremony for the North Korean leader that includes full military honors and a military guard review.

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North Korean leader Kim Jong Un writes: “new history starts now; age of peace, from the starting point of history” on guest visitor book at Peace House.

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Former FBI Director James Comey strategically, and intentionally, showed up 20 minutes late for a scheduled live interview with Fox News Bret Baier thereby limiting the amount of time available for questions.

There are two segments to the interview.  The first segment is 20 minutes long. In the first segment James Comey showcases his forward-moving legal defense strategy.  Comey outlines that he was kept in the dark, and did not know, about almost all of the central elements within the actions taken by those under his leadership.  WATCH:

Segment two below:

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An interesting discussion this morning on CNBC with White House economic adviser  Larry Kudlow beings to highlight the principal purpose of his forte’.

President Trump is the first U.S. president who came to the table of economic policy with a plan of action that is uniquely his own.  POTUS doesn’t need “advisers” to frame possible policy, he already has the program mapped out; POTUS needs ‘advisers” who are not actually “advisers” per se’ but rather a sales-force to explain and advance his program agenda to the world markets as the policies are implemented….

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…Because this is such a substantial shift from historic reference, President Trump’s unique position of actually creating the economic policy must be emphasized and continually repeated.  It’s not Kudlow creating the policy; these are President Trump’s policies.  The granular details are carried out by U.S.T.R Lighthizer, Commerce Secretary Ross, Treasury Secretary Mnuchin.

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Earlier today French President Emmanuel Macron addresses a joint session of congress.

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President Trump and First Lady Melania Trump host French President Macron and Mrs. Macron for an official state dinner at the White House.   The arrival will be livestreamed.

UPDATE: Video Added

Pictures below

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First Lady Melania Trump and Lady Brigitte Macron visit the National Gallery of Art in Washington DC.  Part of the tour included the Cezanne exhibit.

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U.S. President Donald Trump and French President Emmanuel Macron hold a joint news conference at the White House celebrating the historic U.S.-France relationship and discussing ongoing issues that are priorities for both countries.

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[*take note* The closing remark by President Trump at the end of this press conference is straight out of central casting for principle centered leadership; the art of the authentic close; Wharton School CEO leadership 401; ie. ‘How to expand your influence‘.]

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