President Trump and Prime Minister Abe are essentially peas and carrots engaged in friendly economic competition.  The relationship between them is genuine warmth and respect. During their bilateral today President Trump praised the U.S-Japan announcement as big deal, adding it “took a lot of work to get it done.“
Abe has been my friend, POTUS said, adding that Japan – on his request – has been building their plants in the US. In Michigan, in Ohio.  Prime Minister Abe said: “Once again, I’d like to share with you my enthusiasm“ about this agreement. [Video and Transcript Below]

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[Transcript] – PRESIDENT TRUMP: Well, thank you very much. We have some of our great farmers and ranchers and businesspeople in the room, and likewise Japan. And we have tremendous representatives — some of the biggest people anywhere in the world — what we’re going and the agreement that we just signed. And it’s an honor to have you with us. I thought you could join us for this meeting.
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Today, President Donald J. Trump met with Prime Minister Narendra Modi of the Republic of India at the United Nations General Assembly. The leaders discussed progress on different aspects of their strategic partnership and upcoming opportunities to ensure it remains strong. The President reaffirmed the importance of greatly increasing trade between the United States and India, and highlighted the need for resolving barriers to free, fair, and reciprocal trade, which includes improving United Statescompanies’ market access in India.  [Video and Transcript Below]

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[Transcript] – PRESIDENT TRUMP: Thank you very much. It’s a great honor, as you know, to be with — because we were together just the other day in front of 59,000 people in the stadium, and that was a great day — Prime Minister Modi of India.
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U.S. Treasury Secretary Steve Mnuchin talks to FOX Business’ Lou Dobbs about the current status of U.S-China trade negotiations.  Mnuchin and U.S. Trade Representative Robert Lighthizer have been working together on the overall China issues.
Mnuchin delivers a deliberate explanation of the current status.

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Earlier today President Trump met with South Korean President Moon Jae-in (the Asian Obama) to discuss issues of mutual interests.  The relationship between Trump and Moon is one of the more interesting geopolitical dynamics.  President Moon is consistently flummoxed by the effectiveness of Trump and has learned to respect a strategy he doesn’t understand. [Video and Transcript Below]

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[Transcript] – PRESIDENT TRUMP: Well, thank you very much. We’re pleased to be with President Moon of South Korea. We have a long-term friendship, and we are making a lot of progress. We are working on tremendous trade deals. We — as you know, we’ve completed a trade deal, and that’s working out very well for both countries. That deal is completed now, and it’s been in existence for — solidly in existence for six months. And it’s been very good.
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President Donald Trump meets-up with Australian Prime Minister Scott Morrison to deliver remarks at the Grand Opening of a Pratt Industries Plant in Wapakoneta Ohio. Anticipated start time is between 5:00pm ET and 6:00pm ET.
UPDATE: Video Added

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Today President Trump will be traveling to NRG Stadium in Houston, Texas, to join Indian Prime Minister Narendra Modi at a celebratory event. India is a key geopolitical ally in President Trump’s Indo-Pacific strategy. [Economics, Trade and Security]
Update: Video Added

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Last week U.S. economic data included the Labor Department’s report on initial filings for unemployment benefits, at historically low levels. Also last week, the Commerce Department reported the U.S. housing market (new homes and permits) was the strongest since 2007. Then came the Philadelphia Fed’s index of manufacturing business activity in September, more than doubling estimates as factories continue to expand.  And if that wasn’t too much winning, the Commerce Department then announced August retail sales growth was double expectations.  Main Street USA is very strong.

None of the economic data supports the almost month-long ‘recession narrative’ pushed by financial pundits and media narrative engineers; and next week the second estimate of Q2 GDP growth will be released. Attempting to retain the smallest remaining whiff of credibility, the Bloomberg economists now announce they’re cancelling the recession.
Yes, in a piece titled “Hold That Recession – U.S. Indicators are Trouncing Forecasts“, Bloomberg admits the economy doesn’t match their gloomy narrative:

(Bloomberg) — The U.S. economy is outperforming expectations by the most this year, offering a fresh rebuttal to last month’s resurgent recession fears fueled by the trade war and a manufacturing slump.
The Bloomberg Economic Surprise Index has reached an 11-month high after four indicators released Thursday, including existing home sales and jobless claims, each surpassed expectations.

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This is interesting.  CNN’s Martin Savage traveled to the democrat stronghold in Minnesota to talk about the 2020 election.  Much to the angst of the production unit they discover thousands of Minnesota voters have switched to support President Trump.

“Thousands of people switching and changing their politics?”  ….Yes, why yes they are.

The two key issues highlighted in the interviews surround President Trump’s economic policies: “he’s the party for jobs”; and President Trump’s immigration policies: “Ilhan Omar is not popular here.”   WATCH:

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For the past several weeks China has been hoping to divide the trade dispute into two tracks thereby separating trade issues related to U.S. national security.  Beijing wants, heck needs, the simple agricultural trade because they are food dependent and need that uninterrupted.  However, they are strongly opposed to a comprehensive trade reset.
Beijing wants to wait-out President Trump on the more substantive issues surrounding: intellectual property rights; forced transfer of IP and manufacturing secrets; non tariff barriers including limited access to China’s controlled markets; and state run company subsidies that lead to market dumping and saturation.
Along with avoiding legal compliance issues, China wants to carve-out the complex stuff from a simple trade agreement.
However, when asked today about the possibility of carving out a partial deal President Trump emphatically said: “NO”.  During a press conference with Australian Prime Minister Scott Morrison, President Trump said:

“We’re looking for a complete deal, I’m not looking for a partial deal.  China has been starting to buy our agricultural product; if you noticed over the last week, and actually some very big purchases. But that’s not what I’m looking for, we’re looking for the big deal.

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Earlier today President Trump and First Lady Melania welcomed Australian Prime Minister Scott Morrison and Mrs. Jenny Morrison to the White House.  Prior to delegation meetings the President and Prime Minister held a press availability in the oval office.
As part of the breaking news discussion, President Trump and Treasury Secretary Steven Mnuchin announced new sanctions on Iran.  [Video and FULL Transcript Below]

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[Transcript] PRESIDENT TRUMP: Thank you very much everybody. It’s a great honor to have the Prime Minister of Australia. And congratulations and thank you very much, Mrs. Morrison. Thank you very much for being here. We appreciate it. This was a lovely ceremony. I hope you liked it.
PRIME MINISTER MORRISON: Absolutely.
MRS. MORRISON: We absolutely loved it.
PRESIDENT TRUMP: It was in honor of you and Australia.
MRS. MORRISON: Thank you.
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