Gordon Chang appears on Fox News with Charles Payne (filling in for Bartiromo) to discuss the downstream consequences from the G20 meeting between President Trump and Chinese Chairman Xi Jinping.
While he generally frames the picture accurately, lately Chang has been hit or miss.  He accurately outlines how a win/win trade deal is not possible from the perspective of Beijing and their zero-sum outlook; however, he misses on the issues around Huawei; misses the entire hostage dynamic with Kim Jong Un; and then hits again on Hong Kong.

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♦ On China President Trump appears to be working on a complete and total decoupling from the U.S. However, there are steps required in the interim that are in flux (EU and USMCA). Once those matters are resolved we will likely see the decoupling.
♦ On North Korea, just because DPRK state media spouts something doesn’t mean Kim Jong-Un has any control over it.  Beijing has majority influence over DPRK officials.
♦ On Hong Kong, after the Kim hostage rescue; and while the China decoupling is underway; we can expect Hong Kong to be a larger part of Trump’s Indo-Pacific initiative.
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One of the best testimonials to President Trump’s pragmatic perspective is his ability to rise above the ridiculous partisan political attacks and look at issues from a non-political solution-driven perspective.
In the latest example California Governor Gavin Newsom has been antagonizing the administration yet outlines how President Trump, a builder-in-chief, immediately called him and expressed his full commitment to helping California recover from two serious earthquakes that hit the state in two consecutive days. After Newsom toured some of the damaged areas he spoke to reporters at a press briefing.
Governor Newsom said he and President Trump talked about the challenges California has recently face, including two devastating wildfires just six months ago. “There’s no question we don’t agree on everything, but one area where there’s no politics, where we work extremely well together, is our response to emergencies”, Newsom said. “He’s committed in the long haul, the long run, to help support the rebuilding efforts” the governor said of President Trump.

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Ellison Barber of Fox News reporting the ICE removals are likely to begin shortly:

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On June 22nd, 2019, President Trump agreed to postpone any deportation enforcement after a call with Speaker Nancy Pelosi:
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Before President Trump and Chairman Xi Jinping met in Osaka at the G20, Beijing requested the removal of current tariffs as a contingency for a Trump-Xi meeting.  The tariffs are causing two issues: (1) China is bleeding cash via subsidies to offset the tariffs and retain export position; (2) ancillary manufacturing companies are exiting China to avoid tariffs into the U.S. market.
Understanding how the static dynamic -he intentionally created- was favorable to the U.S., President Trump reasserted that current tariffs were not going to be removed.

After the Osaka meeting, President Trump and Chairman Xi agreed to re-open talks between the two teams with no new tariffs; however, as stated before the G20 summit the preexisting tariffs would remain.
Beijing is increasingly recognizing how the current status is disfavorable to their economy; and asserting that no further trade talks can take place until the U.S. promises to remove all tariffs as part of a completed agreement.

(SCMP) China has insisted that all tariffs on Chinese imports added by the United States during the trade war must be scrapped immediately as part of any deal to end the year-long conflict, which would require the Trump administration to give up its position that some levies remain in place even after an agreement is reached.

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In a new report Fox News journalist Catherine Herridge outlines a “reluctant witness” who has recently agreed to cooperate with DOJ Inspector General Michael Horowitz and his review of potential FISA abuse by the Obama DOJ and FBI.

Fox News – Key witnesses sought for questioning by Justice Department Inspector General Michael E. Horowitz early in his investigation into alleged government surveillance abuse have come forward at the 11th hour, Fox News has learned.

Sources familiar with the matter said at least one witness outside the Justice Department and FBI started cooperating — a breakthrough that came after Attorney General William Barr ordered U.S. Attorney John Durham to lead a separate investigation into the origins of the bureau’s 2016 Russia case that laid the foundation for Special Counsel Robert Mueller’s probe.

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Chopper pressers are the best pressers.  Earlier today President Trump stopped to deliver remarks and answer questions from the assembled media prior to boarding Marine-One.
There is a ton of updated current event information in this chopper presser. [July 4th, Economics, Fed, China, Biden, Wilbur Ross, Census, G20, Trade Deals, etc.]  The full transcript is below the video.

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[Transcript]  THE PRESIDENT: That’s a great crowd of people. We had a phenomenal crowd last night, and it was a fantastic evening for our country. You’re going to have a lot of people being recruited, I think, based on that. We’re going to have a lot of — a lot of people joining our military. And we really needed that.
Our job numbers are so good that the military has a hard time getting people. And I think, really, that you’re going to see a big spike. I’ve already heard it — a lot of people calling in. No place like our military. I think we showed that last night.
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A group of spectators and supporters were gathered near the South Lawn to watch President Trump depart the White House.  The visiting group included Representative Mark Meadows and likely some of his North Carolina constituents.
President Trump takes the time to visit with the group of normal Americans, and arm himself with support, prior to engagement with the assembled hyenas.

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National Economic Council Director Larry Kudlow appears on Fox News to discuss the June jobs report, current Federal Reserve policy, the Trump administration’s trade negotiations with China and former Reagan Economist Art Laffer receiving the Medal of Freedom.
On the China front there’s a weird, seemingly disconnected, dynamic appearing at the surface level within China.  The position of Chairman Xi Jinping and Vice-Premier Liu He seems unusually separated from Beijing messaging (more on that later). Here’s Kudlow:

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A recap of President Trump’s historic celebration of American independence July 4th, 2019, (w/ full speech transcript):

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[Transcript] – July 4, 2019 – THE PRESIDENT: Hello, America. Hello. The First Lady and I wish each and every one of you a Happy Independence Day on this truly historic Fourth of July! (Applause.)
Today, we come together as one nation with this very special Salute to America. We celebrate our history, our people, and the heroes who proudly defend our flag — the brave men and women of the United States Military. (Applause.)
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Apparently the rumors of our economic demise were greatly exaggerated.  Yes, amid the gnashing teeth of the Wall Street pundits hoping for another lucrative Fed rate decrease, the Main Street economy continues to defy expectations:

“Today’s jobs report shows the U.S. economy continues to create jobs at a strong pace even as we enter the longest period of economic expansion on record.” ~Tony Bedikian, Citizens Bank.

According to the BLS Report – June saw 224,000 jobs added; and importantly the private sector wage growth knocks a very solid +3.2% year-over-year. [Table B-8]  You might remember in the May 2019 jobs report 299,000 people moved from Part-Time to Full-Time employment.  In today’s report total payrolls added another 224,000 workers.

These are stunningly numbers.  The 224k new jobs this month is higher than same month last year (2018).  The Main Street economy is continuing to expand.  Private sector growth in wages continues to run above 3% for the 11th straight month.   Wage Growth is a critical driver because over inflation is around 1.3%. Wage growth is more than double inflation.
Key Point: Economic numbers, statistics, are subject to narrative engineering.  Those pushing a negative economic narrative are Wall Street pundits.  Wall St. has a self-interest to push negative economic news to get lower interest rates.  Lower interest rates means cheap money and a higher stock market.
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