The White House has released a “Joint Statement of the United States and China Regarding Trade Consultations“:

“At the direction of President Donald J. Trump and President Xi Jinping, on May 17 and 18, 2018, the United States and China engaged in constructive consultations regarding trade in Washington, D.C. The United States delegation included Secretary of the Treasury Steven T. Mnuchin, Secretary of Commerce Wilbur L. Ross, and United States Trade Representative Robert E. Lighthizer. The Chinese delegation was led by State Council Vice Premier Liu He, Special Envoy of President Xi.”

“There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China. To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services. This will help support growth and employment in the United States.”

(more…)

Secretary of State Mike Pompeo sits down for an interview with the Deep State toll booth operator Chris Wallace.  Customary cost of admission, five shillings.

Secretary Pompeo briefly discussed the ISIS terror attack in France yesterday and expands upon the upcoming summit with North Korean Chairman Kim Jong-un. Secretary Pompeo appears to have a more thorough understanding on the Trump Doctrine of using economics to achieve national security objectives than former Secretary Rex Tillerson.

The duplicitous toll booth operator won’t raise the barricade until Pompeo discusses the view of former CIA Director John Brennan.   Pompeo exits the narrative and beats Wallace over the head with MAGA common sense: “Brennan’s remarks are silly“, moving on…

(more…)

Today, after a briefing session between Secretary of State Mike Pompeo and his counterpart from South-Korea, Secretary Pompeo and Foreign Minister Kang Kyung-wha held a joint press conference.  Serious discussions with resolute heart.  WATCH:

.

[Transcript] SECRETARY POMPEO: Good afternoon. It is my honor to welcome Foreign Minister Kang to Washington. It is important to meet with such a critical ally so early in my time as Secretary at this incredibly critical time as well. Our alliance with the Republic of Korea was forged in the crucible of war 65 years ago. Tens of thousands of Koreans and Americans sacrificed their lives in the pursuit of freedom for South Korea.

(more…)

Critical Update – Critical Update – Critical Update

Those who are watching the NAFTA negotiations must pay close attention to the activity in the past 36 hours.  There is a key video at the bottom.  First the backdrop:

As most are aware the NAFTA fatal flaw, the “loophole”, surrounds Mexico and Canada structuring their economic manufacturing policy -and trade deals- through the exploitation of a back-door into the U.S. Market. Understanding this key issue is paramount to understanding President Trump’s approach therein.

Remove the NAFTA “loophole” and there is no longer an incentive for U.S. manufacturers to locate their operations in Mexico or Canada. However, the removal of this loophole also means China, ASEAN nations and the EU lose the same incentive.

There have been hundreds of billions of previous investment by multinational corporations in Mexico and Canada.  Every dollar spent was intended to continue this exploitation.

Then came Trump.

In terms of investment size and scale of manufacturing, the auto-sector is perhaps the primary industry attempting to position themselves to avoid any reversal of the NAFTA scheme; and it is a self-interested economic scheme. In the short term there are billions at stake; in the longer term there are trillions within the equation.

(more…)

Earlier today President Trump announced via Twitter the date and location for the upcoming denuclearization talks between the U.S. and North Korea.

As announced, the summit between President Trump and Chairman Kim Jong-un will take place in Singapore on June 12th, 2018.

In the days leading up to the Singapore summit, there is a G7 meeting in Quebec, Canada, on June 8th and 9th.  The timing affords France, Germany, Italy, Britain, Japan and Canada an opportunity to share their perspectives, and simultaneously provides an opportunity for President Trump to solidify international support in advance of the summit.  Importantly the G7 allows time with Shinzo Abe of Japan.

South Korean Prime Minister Moon Jae-in is scheduled to visit the White House May 22nd, to brief President Trump on his prior meeting with Chairman Kim and discuss regional strategy and key issues for the Korean peninsula.

(more…)

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.

(more…)

Absolutely stunning remarks today from North Korean Leader Kim Jong-un.  Not only do both Kim Jong-un (North) and Moon Jae-in (South) discuss peace, but the DPRK actually goes the full-way-forward toward a unified Korean peninsula.  Jumping ju-ju bones, these remarks are absolutely gobsmacking.

Kim Jong-un remarks begin at 09:00 of video below.  MUST WATCH:

.

This is incredible. Not only does Kim Jong-un commit to a fully denuclearized Korean peninsula, but also the ending of all hostilities; the end of the Korean war; and stunningly the process to begin entering a phase for a completely unified North and South Korea.

(more…)

The Senate voted Thursday to confirm CIA chief Mike Pompeo as President Trump’s next secretary of state.  Secretary Pompeo was confirmed on a 57-42 vote.  All Republicans present voted to confirm Pompeo. Seven Democrats voted yes.

After the vote, Pompeo was sworn in by Supreme Court Justice Samuel Alito in the West Conference Room of the Supreme Court:

I am pleased with the Senate’s confirmation of Mike Pompeo to serve as our country’s top diplomat. Having a patriot of Mike’s immense talent, energy, and intellect leading the Department of State will be an incredible asset for our country at this critical time in history. He will always put the interests of America first. He has my trust. He has my support. Today, he has my congratulations on becoming America’s 70th Secretary of State.

~ President Donald J Trump

U.S. Trade Representative Robert Lighthizer and the trade ministers from Canada and Mexico are not in Washington DC this weekend; however the trade staff from all three nations stayed in DC working to finalize agreement on NAFTA with increased urgency.

The nation pushing hardest to complete an agreement quickly is Mexico.  The Mexican national election is July 1st and the soft-Marxist Andres Manuel Lopez Obrador (AM LO) has increased his lead.  AM LO is now 22 points ahead of his next closest competitor. Lopez Obrador, a self-described Hugo Chavez ideologue, is guaranteed to win – and Mexico will become Venezuela 2.0 within five years.

The looming Mexican election, and the radical political departure therein, means if a deal is not made soon, there will be no deal.

Andres Manuel Lopez Obrador will likely nationalize large segments of the Mexican economy for more progressive wealth distribution…. Enter, quickly, and with a transparency in their desperation, the multinational corporations who have already invested hundreds of billions into Mexican ports, transportation infrastructure, raw material procurement contracts, manufacturing/processing and assembly facilities, and all around exploitation of NAFTA as a tariff-free, profit-driven, back-door to the U.S market…

Yes, as oft repeated, there are trillions at stake.

(more…)

In the past 48 hours South Korea (Moon Jae-in) and North Korea (Kim Jong-un) have been working out the details of their upcoming summit.  Within the discussions between North and South Korea some stunning news has surfaced.

♦ Yesterday Moon Jae-in announced that North Korea had agreed to complete denuclearization of the Korean Peninsula without any preconditions or expectations of changes in the relationship between the U.S. and South Korea:

SEOUL, South Korea — North Korea has expressed its commitment to “complete denuclearization” of the Korean Peninsula and is not seeking conditions, South Korean President Moon Jae-in said on Thursday, as the United States vowed to maintain “maximum pressure” on Pyongyang.

[…] “I don’t think denuclearization has different meanings for South and North Korea,” Moon said during a lunch with chief executives of Korean media companies. “The North is expressing a will for a complete denuclearization.”

“They have not attached any conditions that the U.S. cannot accept, such as the withdrawal of American troops from South Korea,” he continued. “All they are talking about is the end of hostile policies against North Korea, followed by a guarantee of security.”  (read more)

As the summit discussions continued today; and to assure the previous U.S. envoy CIA Director Mike Pompeto; and in affirmation of direct talks with President Trump; North Korea made an even more stunning statement from the Korean Central News Agency:

(more…)