White House Press Briefing by National Economic Council Director Larry Kudlow and National Security Council Senior Director for Asian Affairs Matthew Pottinger. Today’s briefing is happening during a Presidential summit with Japanese Prime Minister Shinzo Abe.
Kudlow is discussing the trade and economic issues; Pottinger is discussing national security issues surrounding negotiations with North Korea. As Secretary Ross has stated frequently: “Economic Security is National Security.”
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[Transcript] West Palm Beach, Florida – 12:20 P.M. EDT – MR. KUDLOW: I’ll just say to start, before we take some questions, this is a very important meeting. A lot of really key issues are on the line. You obviously know about the foreign policy side regarding North Korea, which is a major, major issue for Japan and for the United States.
On the economic and trade side, there will also be very important issues. Japan is a great friend and ally. We have certain disagreements with respect to some of the trading issues. We’ll iron those out, hopefully.
Too funny. The one constant in an ever-changing financial universe has been Donald Trump’s three-decade-long position on U.S. trade and Main Street economic policy. However, despite this reality the Wall Street purchased politicians continue to think their opposition to Trump will create leverage to influence his economic views.
Last week’s example was Senator Ben Sasse and the purchased clan of BIG-AG, who demanded President Trump re-enter the Trans-Pacific Partnership trade deal.
POTUS Trump, in a transparently familiar response, told Larry Kudlow to “take a look at it.” The GOPe immediately began backslapping, the corporate media went joyfully bananas and Lou Dobbs was mad. CTH said relax:
Well, here’s Kudlow today:
(Bloomberg) White House economic adviser Larry Kudlow downplayed the possibility the U.S. would enter into negotiations to rejoin the Trans-Pacific Partnership trade pact, calling it more of a “thought than a policy” for now.
An Eagle was soaring through the air. Suddenly it heard the whizz of an Arrow, and felt the dart pierce its breast. Slowly it fluttered down to earth. Its lifeblood pouring out. Looking at the Arrow with which it had been shot, the Eagle realized that the deadly shaft had been feathered with one of its own plumes.
Moral: We often give our enemies the means for our own destruction.
The United States economy is the Eagle; the shaft is Wall Street; the feather is the U.S. middle-class, and the archer is U.S. Chamber of Commerce President Tom Donohue.
Need proof? Please, don’t take my word for it, read:
Tom Donohue: Tonight feels like a gathering of old friends. Five years ago, I had the pleasure of being in this beautiful city to help start a hemispheric business dialogue, and I’m pleased to be back in Lima for this year’s CEO Summit of the Americas.
[…] I also want to talk a little about the priorities within our government. Because, as everyone knows, many of the policy decisions coming out of Washington today not only impact the U.S. economy and its businesses and workers, but indeed those across this hemisphere and around the world.
[…] The Chamber has helped lead the fight to protect the status of more than one million people who are at risk of deportation. It makes no sense to send one million talented workers back to their home countries when we don’t have enough labor to get the job done in our own. This includes the young men and women who were brought to our country as children through no fault of their own—known as “the Dreamers”—as well as hundreds of thousands of individuals who are working in the U.S. under temporary protected status.
As you are probably aware President Trump cancelled his visit to the Summit of the Americas in Lima, Peru this week; preferring to send Vice President Mike Pence in his stead. U.S. Chamber of Commerce President Tom Donahue is in Peru and delivered the Wall Street positions on trade to the gathering. (More on that later).
It is critical to remember, at the epicenter of all political position is money. All support and opposition to POTUS Trump surrounds the money. Under the foundation of ideology are financial benefits and/or lack thereof. [Ex. Chuck Grassley’s presentation of a bill to support SC Robert Mueller is directly tied to his purchased Big AG lobby position on trade via UniLever, ConAgra, Monsanto, ADM etc.] The Wall Street coalition needs leverage against POTUS Trump to defend their financial positions. There are trillions at stake.
Directly related, today in the White House, President Trump -together with U.S.T.R Robert Lighthizer- met with an assembly of governors and congressional representatives to discuss trade and agriculture. Each of these state and federal officials is part of the Big AG corporate purchase of policy.
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When POTUS keeps the cameras rolling, it’s beneficial to pay attention. Notice how President Trump is leveraging an agricultural benefit of ethanol against the financial influence of Big AG lobbyists who control the assembled politicians.
It’s a modern fact, albeit sickening in the big picture, that President Trump has to fight for the best outcome of America’s economic policy against special interests of U.S. politicians – who are purchased by lobbyist money to act against America’s best interests.
[Transcript] 11:07 A.M. EDT – THE PRESIDENT: So this is a group I like very much. We’re here to discuss agriculture — very important. And these are great people, great Americans, great patriots. And they’ve been treated very badly for a long time. And if you look at the farmer, it’s been, unfortunately, over a 12-year period, trending downward. Very much trending downward. So we’re changing things with respect to trade and trade with other countries.
After three days of discussions between U.S Trade Representative Robert Lighthizer, Canadian Foreign Minister Chrystia Freeland and Mexican Economy Minister Ildefonso Guajardo they were not able to develop any consensus on the major issues within the North American Free Trade Agreement, NAFTA.
The likely outcome of the upcoming Mexican national election on July 1st brought the principals together for non-scheduled talks, as U.S. President Trump instructed Ambassador Lighthizer to explore whether the three nations could find common ground on the ‘big picture’ issues behind the largest schism. The auto sector and rules of origin is the epicenter of the biggest difference between the U.S., Mexico and Canada.
The U.S. auto-sector NAFTA position is that North American content of vehicles made in NAFTA countries be increased to 85 percent from 62.5 percent. The Canadian and Mexican position is for lower North American content.
Canada is not arguing for higher Canadian content. Mexico is not arguing for higher Mexican content… Instead both Canada and Mexico are arguing for higher imported content (China and Asia). Honestly, I cannot fathom why more people don’t see the inherent ridiculousness of NAFTA against the reality of Canada and Mexico arguing for more Chinese imports.
National Economic Council Director Larry Kudlow appears on Bloomberg News to discuss U.S-China trade confrontations, the use of tariffs, and the potential for negotiations between the two nations:
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Obviously – with the ongoing issues surrounding NAFTA, and China’s exploitation of the fatal flaw therein, in combination with President Trump confronting the dragon behind the false Panda mask, the fight for MAGAnomic America-First policy execution is entering a new phase….
The multinational interests who benefited from the prior U.S. global trade approach are increasingly desperate. There are trillions at stake.
Yesterday U.S. Trade Represenative Robert Lighthizer and Mexico’s Minister Ildefonso Guajardo met in Washington DC for a bilateral discussion. Likely one of the key avenues for Lighthizer to explore surrounded the upcoming election of a hardline Marxist in Mexico and how Guajardo views the impact to Mexican policy therein.
At this point it’s virtually guaranteed that Andres Manuel Lopez Obrador will win the election – I would VERY strongly bet on that outcome (likelihood 85%). That puts a Hugo Chavez type ideologue, and the attached economic policies, at our southern border. [Pro-Tip: prepare your business affairs accordingly now, and avoid the chaos later]
Canadian Foreign Minister Chrystia Freeland arrived in Washington DC today to join Lighthizer and Guajardo and expand the informal discussion toward a trilateral trade discussion.
Thankfully Lighthizer is on his home turf because he’s now surrounded by left-wing globalist advocates from Mexico, Canada and the U.S. Chamber of Commerce via Tom Donohue.
There was some media talk, and a hint from Trump’s NEC Chairman Larry Kudlow yesterday, about the U.S. strongly wanting to have an agreement on principle utilizing the cornerstone of the Auto-Sector as a building block.
However, I cannot caution strongly enough that NEC Chairman Larry Kudlow is in love with NAFTA and POTUS Trump is not. So filter Kudlow’s optimistic glee against his trade worship with NAFTA.
With the migrant march from South America, mostly Hondurans, gaining more media attention, it is also important to revisit last year’s threats -from Mexican officials- which preceded their current year complicity.
♦ In August of 2017 President Trump and Commerce Secretary Ross were discussing their trade efforts within NAFTA and renegotiation with Mexico/Canada on a trilateral basis. However, the U.S. administration said if it doesn’t work, they’d scrap the 3-way NAFTA deal and go one-on-one with individual bilateral agreements. In response, Mexican Economic Minister Ildefonso Guajardo threatened to flood the U.S. with South American illegal aliens, criminals and gang members as leverage:
MEXICO CITY (Reuters) – Mexico could pull back on cooperation in migration and security matters if the United States walks away from talks to renegotiate the North American Free Trade Agreement, the Mexican economy minister said in a newspaper report published on Thursday.
“If they do not treat [us] well commercially, they should not expect us to treat them well by containing the migration that comes from other regions of the world and crosses Mexico,” Guajardo said. “Or they should not expect to be treated well in collaboration with security issues in the region.” (LINK)
However, Mexican Minister Ildefonso Guarjardo’s threat was mild compared to a threat in January 2017, when another Mexican official promised to flood the U.S. with South American drugs and gang violence:
CTH takes a little flak for pointing out the obvious; that’s ok, it doesn’t change the reality: When you confront the manipulated multinational trade system – the multinational Wall Street entities who have historically benefited from that system will lose.
It is impossible for Wall Street corporations invested overseas not to lose some financial position. This is reality, and this is also necessary. Meanwhile U.S-centered corporations will gain valuation in direct proportion to the amount of investment they hold inside the U.S…
White House Trade Director Peter Navarro discusses the ongoing trade initiatives, China, Wall Street and NAFTA. President Trump has indicated a strong preference for U.S.T.R. Lighthizer to make a determination about NAFTA as soon as possible. WATCH:
