Here we go….  President Trump is laying the groundwork to ban telecommunication companies based on identified risk to national security (ie. Huawei).  Nations who engage in 5-G technology agreements are on notice they may be cut-off from communication partnerships with the U.S.A.

[I think Wall Street just pee’d their pants a little..]

[Executive Order] By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), and section 301 of title 3, United States Code,
I, DONALD J. TRUMP, President of the United States of America, find that foreign adversaries are increasingly creating and exploiting vulnerabilities in information and communications technology and services, which store and communicate vast amounts of sensitive information, facilitate the digital economy, and support critical infrastructure and vital emergency services, in order to commit malicious cyber-enabled actions, including economic and industrial espionage against the United States and its people.
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Good discussion between Tom Friedman and Steve Bannon on the ‘big picture’ of the U.S. -vs- China geopolitical trade confrontation.   Friedman is an insufferable prog on methods, but he recognizes the President Trump approach is necessary.  Worth Watching:

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Where academic Friedman is helplessly naive is on the key point of how a coalition approach toward China is a pipe-dream.  When it comes to economics each entity has unique self-interests.  Put fifty self-interested governments together (ie. TPP) and you end up with paralysis of analysis and no action; as each entity fights to hold their own interest over the group interest….. While China grows in the background.
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Today President Trump will be touring a Liquid Natural Gas (LNG) export facility in Hackberry, Louisiana before he delivers a statement on energy sector infrastructure and the economy.  The president is expected to deliver remarks at 3:10pm EDT.
UPDATE: Video Added

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Curtis Ellis was special advisor to Secretary of Labor Acosta in the Trump administration. He is now an outside government advisor to America-First Policies, an unaffiliated economic advisory board and advocacy group. In this video Ellis walks through the big picture behind the U.S. -vs- China Trade confrontation.

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Earlier this afternoon President Trump welcomes Hungarian Prime Minister Viktor Orbán to the White House for bilateral discussions.  During an oval office press availability both leaders answered questions from the media. [Video and Transcript]

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[Transcript] Oval Office – 2:14pm EDT – PRESIDENT TRUMP: Thank you very much. It’s a great honor to have with us the Prime Minister of Hungary. And Viktor Orbán has done a tremendous job in so many different ways. Highly respected. Respected all over Europe. Probably, like me, a little bit controversial, but that’s okay. That’s okay. You’ve done a good job and you’ve kept your country safe.
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President Trump is executing one of the most brilliant geopolitical economic resets in the history of global trade. It really is stunningly remarkable how President Trump has controlled the entire landscape. The consequential phase now begins.
It is fascinating how the financial pundits didn’t see this coming. Perhaps one of the best indicators of where things are today comes from this quote within the South China Post:

“The Administration’s Section 301 tariffs and China’s retaliatory tariffs will now further disrupt – or even break – many thousands of supply chains in both countries.”
[Nelson Dong, a senior partner at Dorsey & Whitney]

The quote by Nelson Dong is stated *as if* shifting/breaking supply chains is a flaw in the approach. It’s not. Exactly the opposite is true; this is a feature of the strategic reset.  A specific and purposeful feature designed by President Trump.
What Dong is predicting is the deconstruction of “one-belt, one-road”.
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Looking at the retaliatory response from China today; there’s lots of great news.  China is doing exactly what President Trump quietly predicted.  They are walking directly into his trap.  Trump is a friggin’ genius…. more on that coming.
This video from Steve Hilton last night was very well presented.

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There’s a remarkable political restructuring happening on the other side of the Atlantic. Nigel Farage has led the U.K. Brexit Party into the leading political force in a matter of weeks.

With frustration over the intransigent unwillingness of the political elites who control power in the U.K. to deliver on the Brexit referendum, the grassroots “Brexit Party” was formed.  According to recent polling the movement now leads in advance of upcoming EU Parliament elections.  It’s possible another political earthquake is about to happen:

(Via Breitbart Media) New polling for the upcoming European Parliament elections shows another astonishing surge in support for Nigel Farage’s Brexit Party, while the governing Conservatives have crashed to fourth place on just 11 per cent.
The Opinium poll of 2,004 people, conducted online between the 8th and 10th of May, showed support for Mr Farage’s weeks-old party up 6 points to 34 per cent, more than Jeremy Corbyn’s Labour — down seven points to 21 per cent — and Theresa May’s Conservatives — down three points to just 11 per cent — combined.

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CTH was wondering how long it would take for President Trump to point out the brutally obvious…. Thanks to some advanced planning that everyone ignored, there are multiple trade alternatives to China:

Perhaps now people will reference President Trump’s long-game strategy which has been evident since his marathon Asia trip in November 2017.
Long before media pundits starting noticing/considering how serious President Trump was about structurally resetting the entire landscape of a U.S-China trade relationship,  President Trump quietly and methodically laid the groundwork with personal visits to: Prime Minister Shinzo Abe (Japan); President Moon Jae-in (S-Korea); President Tran Dai Quang (Vietnam); and President Rodrigo Duerte (Philippines).
Oh, how quickly the media forgot.
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National Economic Council Chairman Larry Kudlow appears on Fox News to debate Chris Wallace over the U.S-China trade reset.  As customary Wallace completely ignores the dynamic of communist China as a state run economy, and not a free market system; thus presenting the fictitious Wall Street position about bad tariffs.
Chairman Kudlow notes the bigger issues of President Trump confronting the enforcement mechanisms that must be in place if a trade agreement (FTA) between a free-market system (USA) and a state-run system (China) are going to work…

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Washington, DC – U.S. Trade Representative Robert Lighthizer today released the following statement regarding additional action under Section 301 of the Trade Act of 1974:
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