Maria Bartiromo continues to distance herself from all Sunday talk-show competition with some of the best and most insightful interviews and topics available.  Today Mrs. Bartiromo interviews President Donald Trump.  The substantive content is excellent.
From a position of understanding Trump policy, and expanding/predicting how each policy will carry forward, this really is one of the best interviews to date.  Bartiromo hits on most topics of interest and expands on the topics of greatest consequence.  Anyone who seeks to understand where the administration is going with economics and trade only needs to keep revisiting this one interview – it’s all there.
Domestic discussion includes the Supreme Court, trade and tariffs, immigration, border security, ICE, mid-term election, taxes, jobs and the ongoing battle between congress and the DOJ/FBI.  Foreign discussion includes trade and geopolitics with Canada, China, the EU, North Korea, Iran and the upcoming summit with Russia.  The intersection of economics and geopolitics via the Trump Doctrine is clear as day.

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[There was a time, not too long ago, when Bartiromo didn’t *get* the Trump doctrine and how economic leverage is used to achieve strategic geopolitical benefits; ultimately ending with massive wins for America.  You can tell she understands the strategy now.]
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The BBC’s condescending Emily Maitlis demands support for the European Union and challenges the sovereign authority of Hungary to self-determination.   Hungarian Foreign Minister Péter Szijjártó was having none of that nonsense, and pushed back against little Miss feelings.

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This occurs on the heels of Italy rebuking the EU immigration platform; and a weakened German Chancellor Angela Merkel having to beg political allies in Bavaria for support:

BERLIN (Reuters) – German Chancellor Angela Merkel’s political future rests in the hands of the Christian Social Union (CSU) on Sunday, when the Bavarian party’s leadership meets to decide whether to accept migration deals she brought back from Brussels.

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Hear Ye; Hear Ye;… it is officially announced, proposed, reactified and triggeringly proclaimed by the ICC that Froglegs vaccinations are once again available.

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Within the German economy the auto-sector holds the largest political influence.  Because of this dynamic all German politicians kneel at the knee of the big industrial auto manufacturers.  It has been said that losing support from within the auto-sector is much worse on a German politician than losing support from party or parliament.
Because of this dynamic; and specifically because the German auto-sector is dependent on the United States as their biggest customer, President Trump holds leverage over German Chancellor Angela Merkel.  This makes Fraulein Merkel unhappy.

President Trump wants three EU issues resolved: 1) Germany to contribute the minimum 2% of GDP for their own NATO defense.  2) Germany/EU to support enhanced sanctions against Iran; and  3) President Trump wants all German/EU protectionist trade barriers and tariffs lowered or eliminated – and new trade deals negotiated.
To gain momentum on these initiatives, President Trump is using the economics of trade as leverage.  Trump has suggested a 20% tariff on all EU automobiles shipped into the U.S. [The same standard now likely proposed toward Canada]  The German auto-sector, and as a consequence the German economy, simply cannot survive without low cost access to the U.S. market, their biggest customer.
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There has been a great deal of speculation about who President Trump will nominate to replace retiring Supreme Court Justice Anthony Kennedy.  Earlier today President Trump revealed he will announce the nominee on Monday July 9th:

Democrats and far-left activists have vowed to do everything possible to stop any nominee from being confirmed.  All political opposition is beyond bananas on this issue.
President Trump has stated his intention to make the nominee from a previously compiled list, with a few additions.  The potential nominees are:
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Yikes, looks like someone following through on Congresswoman Maxine Waters approach toward political violence was just arrested.  From the Eastern District of VA:

ALEXANDRIA, Va. – A California man was arrested today in Los Angeles on charges of threatening to kill the family of Ajit Pai, Chairman of the Federal Communications Commission, for Pai’s role in repealing regulations relating to net neutrality.

According to court documents, on or about Dec. 19 and 20, 2017, Markara Man, 33, of Norwalk, allegedly sent three emails to Chairman Pai’s email accounts. The first email accused Chairman Pai of being responsible for a child who allegedly had committed suicide because of the repeal of net neutrality regulations. The second email listed three locations in or around Arlington, and threatened to kill the Chairman’s family members.

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With new spark plugs, Kuddles was thrilled to discuss the latest economic key performance indicators.  National Economic Council Chairman Larry Kudlow talks about the health and growth of the U.S. economy with Maria Bartiromo.

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Today Canada released an updated list of retaliatory tariffs designed as countermeasures to the U.S. Steel and Aluminum tariffs [SEE HERE] which will begin Sunday, July 1st.
Additionally, Foreign Minister Chrystia Freeland, Innovation Minister Navdeep Bains, and Employment and Labour Minister Patty Hajdu, announced they would initiate an emergency program to use Canadian taxes compensate workers, expand unemployment benefits, and subsidize impacted industry.  Yes, in a transparent display of political ideology (throwing capitalism directly out the window), Canada doubles-down on centralized government subsidies to offset market impacts.   Brilliant ‘eh!

Chrystia Freeland made the announcement on the floor of a Hamilton steel factory Friday. In a rare backdrop, Ms. Freeland actually entered a factory with machines and things, to deliver the carefully choreographed political message (video below – watch the last minute to understand).
Team U.S.A. have applied tariffs to Canadian softwood lumber, Steel and Aluminum as Canada refuses to negotiate new terms for NAFTA where North American products are prioritized.  Canada demands the ability to continue importing Asian, mostly Chinese, products for their assembly-based market.
With the latest counter-move by Justin and Chrystia from Canada, it is increasingly likely President Trump will levy a 20% tariff on imported Canadian automobiles.  Last month (May) the Canadian economy dropped over 31,000 Full-Time jobs.
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Earlier today President Trump delivered remarks celebrating the six month anniversary of the U.S. Tax Cuts and Jobs Act.   Today is also the last business day of the second quarter.

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Long time CTH readers might note in 2015 when we first saw candidate Trump’s economic policy initiatives, we began outlining the sequential economic possibilities if President Trump won. So far, all is going according to plan – STUNNINGLY According To Plan.  Seriously, go back and look –FEBRUARY 2016– two-and-a-half years ago.
The possibilities were obvious.  As a result we predicted repeatedly that Q2 of 2018 would be the beginning of the largest period of U.S. GDP and wage growth in the past 30 years.  Q2 2018 ends tomorrow and the results of Q2 will be announced in the next few weeks.  Everything is happening in a logical sequence as a result of Trump’s MAGAnomic plans.
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The House Judiciary Committee has primary oversight authority over the DOJ.  House Judiciary Chairman Bob Goodlatte discusses the testimony from FBI Agent Peter Strzok, and Deputy Attorney General Rod Rosenstein, along with the next steps.

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