The media are reporting that Wilburine has been hospitalized with an undisclosed illness.  Fortunately, the media reports are optimistic.

WASHINGTON – Commerce Secretary Wilbur Ross, 82, went to a hospital in upstate New York on Friday night, sources told Fox News.

A Commerce Department spokesperson on Saturday confirmed to Fox News: “Secretary Ross has been admitted into the hospital for minor, non-coronavirus related issues. He is doing well and we anticipate his release soon.”

Two of the sources told Fox News that Ross was not feeling well on Friday evening and went to the hospital. One source said his illness is not related to COVID-19. (link)

Secretary Ross is one of the key architects, designing and executing President Trump’s economic and trade policy. He is an incredibly brilliant mind and has been an essential component throughout.  One of Ross’s primary responsibilities is organizing a restructured trade agreement with the EU.  Prayers for a speedy recovery.

When the broad outlines of the U.S-Mexico-Canada (USMCA) trade agreement first appeared, we said it seemed clear presidential candidate Andres Manuel Lopez-Obrador (AMLO) was aligned with the economic nationalism preferred by U.S. President Trump.

Yesterday that alignment was on full display as AMLO delivered a very strong endorsement for the respectful agreement between the two nations.  Unfortunately, the U.S. media will never report on these words of praise by President Lopez Obrador.

Transcript […] I also wanted to be here to thank people of the United States, its government, and thank you, President Trump for being increasingly respectful with our Mexican fellow men.

And to you, President Trump, I want to thank you for your understanding and the help you’ve given us in issues related to trade, commerce, oil, as well as your personal support for the acquisition of medical equipment that we needed urgently to treat our patients of COVID-19.

But what I mainly appreciate is that you have never sought to impose anything on us violating our sovereignty. Instead of the Monroe Doctrine, you have followed, in our case, the wise advice of the lustrous and prudent President George Washington who said, quote, “Nations should not take advantage of the unfortunate condition of other peoples.” End of quote.

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President Trump and the U.S. economic team have held a policy perspective that the World Trade Organization (WTO) is no longer a useful functioning body to mediate global trade issues.  At the center of that view are two issues:

First that WTO rules and regulations do not support American economic interests; and secondly, that WTO processes still provide China with favorable benefits as an “emerging nation” despite their scale. As a result the Trump administration has been positioning for a withdrawal from a dysfuctional WTO.

In an effort to keep the WTO intact, British Prime Minister Boris Johnson has nominated a pro-Brexit/pro-America trade minister, Liam Fox, to become the next Director General.

(Via Fox News) – The British government on Wednesday announced that it was nominating former International Trade Secretary Liam Fox to head the World Trade Organization – selecting a strongly pro-Washington candidate at a time when the U.S. is debating quitting the trade body.

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During an interview with Fox Business’ Maria Bartiromo, Commerce Secretary Wilbur Ross notes that companies with headquarters in Hong Kong are likely to rethink those offices with China now taking control under Beijing’s sweeping new security law.

This is a significant statement and underpins the U.S. strategy that is dismantling the Chinese influence on global trade and manufacturing.  As Secretary Ross noted: “I believe that there’s a good chance that all companies who have Hong Kong as their headquarters for Asia will begin rethink whether the new rules – the new relationship between Hong Kong and mainland China – whether those rules let Hong Kong be as favorable a place to have headquarters as it used to be.”  WATCH (listen closely):

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There is a deliberate and blunt focus in the statements by Ross that will have a significant impact.  Globally the world needs to accept the future of Hong Kong as a communist state, and disavow the notion of any semblance of an autonomous region.  Secretary Ross just threw a bucket of cold water in the face of those who refuse to accept the reality as it exists.

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In a statement earlier today, Commerce Secretary Wilbur Ross has announced the U.S. is revoking the special trade status of Hong Kong in response to escalating encroachment by China in violation of the prior agreement for autonomy.

It is a challenging status to modify because the administration does not want to reduce the ability of Hong Kong to operate as an autonomous economic region.  However, at the same time Beijing is taking control of all systems within Hong Kong and as such policies must be adjusted.  It would be an exercise in futility to expect China to retreat.

In the economic balancing act toward China Larry Kudlow represents the good cop, Peter Navarro represents the bad cop and President Trump navigates the market responses.  Neither person is factually in conflict with the other; the nuance is in the expression and each person has a role to play.  Sometimes teeth, sometimes not. It depends on need.

Last night trade advisor Peter Navarro noted the U.S. position with China and trade is still in a state of serious conflict.  This is accurate, and a more confrontational posture has been expressed by President Trump.  Today Larry Kudlow moderates the Navarro position to lessen the Wall St. concern over a looming decoupling.  It’s all a dance.

The need for nuance becomes clear as we watch Stuart Varney pushing the Wall Street concern angle on behalf of U.S. multinationals. The administration does not want to spook the stock market while they deal with a China confrontation. WATCH:

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Kudlow represents the panda mask. Navarro represents the eagles claw. President Trump advances or retracts each position as he controls the market response.  The objective is a slow, steady, smiling decoupling that doesn’t unnerve anyone… but the direction is always toward the decoupling.

President Trump is delivering the proverbial economic death by a thousand paper cuts.

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White House Trade Policy Advisor Peter Navarro outlines what many CTH readers are aware of.  John Bolton begged for the job and enlisted Sean Hannity and Mark Levin to get advanced recommendations.  That’s how he got in. However, as National Security Advisor John Bolton never understood the President Trump doctrine, using economics to achieve national security objectives.  Underline it, highlight it, that’s the primary issue.

In this interview Navarro goes full wolverine on Bolton, and deservedly so.  What Navarro outlines is the truthful reality.  You can tell because it aligns at every level with what we watched every day while John Bolton was in the administration. God bless Navarro for truthfully calling the baby ugly.  WATCH:

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John Bolton felt unimportant in the world of geopolitics because President Trump relied on the economic team of Secretary Mnuchin, Secretary Ross, USTR Lighthizer and Trade Advisor Peter Navarro to achieve national security objectives.

Bolton was the knuckledragger at the end of the table, useful as leverage, where Trump could point to him and say lets make a deal to keep the warmongers like this guy out of the picture. Bolton’s biggest problem was with that Trump doctrine.

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This hearing might be a little too wonky for some, but not too many other policy issues touch 100% of American lives.   U.S. Trade Representative Robert Lighthizer will be delivering testimony today outlining the 2020 trade policy agenda.

The testimony is before the House Ways and Means Committee, and will be livestreamed on the committee website [SEE HERE] and below at 10:00am ET from the Longworth House Office Building.  USTR Lighthizer is the sole witness.

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Lighthizer will also be testifying to the Senate Finance Committee at 3:00pm. [LINK]

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U.S. Trade Representative Robert Lighthizer is testifying tomorrow at 10:00am to the House Ways and Means committee; later in the afternoon Ambassador Lighthizer will testify before the Senate Finance Committee.

The New York Times has received an advance copy of USTR Lighthizer’s opening statement, and the liberal publication is apoplectic the Trump administration plans to outline an even more aggressive stance toward the World Trade Organization (WTO).

According to the pearl-clutching Wall St. class, Lighthizer is going to inform congress of Trump/USTR plans to demand tariff reciprocity; and Lighthizer will indeed raise tariffs against any nation that continues to attempt one-sided benefit. [EU will go bananas]

One method to approach tariff inequality would be for the U.S. to lower the import value threshold for non-tariff exemptions. Currently the U.S. does not apply import duties to any product valued under $800. This is a great benefit to China, southeast Asia, and U.S. on-line retailers such as ebay and Amazon; however, the zero tariff threshold hurts U.S. manufacturers because China and other nations do not reciprocate.

It is anticipated that USTR Lighthizer will inform congress the U.S. will lower that import threshold to match the same value level applied by other nations. Obviously the U.S. Chamber of Commerce and the Wall Street multinationals will not like this approach.

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The U.S. media are in ideological alignment with blue state governors and congressional democrats to hype COVID-19 panic as a method to keep the economy from reopening.  To advance this narrative the crowds during mass protects they approve of are ignored; but any crowd at an event they do not align with is used to push panic. Everyone can see this.

The New York manufacturing index shocked everyone earlier today showing a strong rebound.  The index “unexpectedly” surged 48 points in June surprising all economic forecasters.   Meanwhile, National Economic Council Chairman Larry Kudlow appears on Fox News to discuss the dynamics.

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As Kudlow notes, President Trump is looking to use any potential phase-4 legislative package to inject a massive ‘America First’ boost, via tax incentives for manufacturing business interests to return to the U.S.  The administration does not see a need for additional direct spending, bailouts, or continued payments; however, this is an opportunity to provide tax incentives to boost U.S-centric economic activity.

It’s important to remember the dynamic of U.S. multinationals (Wall St), and how many of them align with Democrat and media efforts to hold down the U.S. economy. There are trillions at stake.

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