President Trump traveled overnight to Davos-Klosters, Switzerland, to attend the World Economic Forum.  [Livestream Links and Daily Schedule Below] I found it very interesting that Secretary of State Mike Pompeo was not on the Dec. delegation list.
The U.S. Delegation includes: Treasury Secretary, Steven Mnuchin; Commerce Secretary, Wilbur Ross; Labor Secretary, Eugene Scalia; Transportation Secretary, Elaine Chao; U.S. Trade Representative, Robert Lighthizer; Under Secretary for Growth, Energy and Environment (DoS), Keith Krach; Asst to the President, Ivanka Trump; Asst. to the President, Jared Kushner; and Asst. to the President / Deputy for Policy Coordination, Christopher Liddell.
The 2020 Davos economic conference will be a little more important to watch this year (as it was in 2017) due to the completed U.S. Trade Agreements (S Korea, Japan, Mexico, Canada, and China) and the predicted focus for the Trump administration to pivot from Asia to the EU and U.K. for the next critical phase of the ‘America-First’ global trade reset.
There will likely be a great deal of attention upon the opening remarks by President Trump scheduled to be delivered at 5:30am ET / 11:30am Switzerland.
UPDATE: Video Added

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Earlier today President Trump and French President Emmanuel Macron had a phone call about the pending French digital services tax on U.S. companies, and USTR Lighthizer’s pending $2.4 billion 100% countervailing duty against high-end French products:

WHITE HOUSE – Today, President Donald J. Trump spoke with President Emmanuel Macron of France. The two leaders agreed it is important to complete successful negotiations on the digital services tax, and they also discussed other bilateral issues. (link)

Where “avoid tariff escalation” means Macron just took a knee.  He really has no choice.
United States Trade Representative Robert Lighthizer calculated a $2.4 billion pending tariff, at a rate of 100%, against select high-end French products as a result of France’s desperation for tax revenue and deciding to tax U.S. digital services.
The WTO already handed the U.S. legal authority against the EU for $2.5 billion in annual tariffs as a result of the Boeing case. Legally the EU cannot retaliate.
With Britain leaving the EU; and with Germany, France and Italy already suffering from a lack of investment and shrinking sales of industrial products – the EU economy is a sitting duck for President Trump to target.  There is no-way France can lead the charge in a tariff battle against the United States….  The conversation goes something like this:
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White House manufacturing policy advisor Peter Navarro has an interview today to discuss the enforcement mechanisms behind the U.S-China trade agreement.
One of the interesting points Navarro raises is how the intellectual property provisions align with the newly initiated Customs and Border Protection “operation megaflex” where thousands of packages from China are opened looking for counterfeit goods.
According to Navarro the operation has identified a counterfeit rate of ten percent; fake goods and contraband narcotics.  China prosecuting these identified companies becomes part of the compliance system to see if China is adhering to the agreement.

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MAGAnomics – National Association of Manufacturers (NAM) President and CEO Jay Timmons describes how President Donald Trump has “delivered” for manufacturers, noting that “promises are being kept” on tax reform, regulation, and trade.

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The passage of USMCA in combination with incentives for domestic manufacturing investment in the U.S.; and overlayed with the framework of the China ‘phase-one’ agreement, has set the foundation for a competitive North American manufacturing alternative to southeast Asia.  The capital investment will follow.  America First!
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Jumpin’ ju-ju bones this is the best recession ever!  The Commerce Department announces U.S. housing starts in December jumped a whopping 16.9 percent in December with 1.608 million units.  Blowing away forecast expectation of 1.375 million units; with the largest gain since 2006.
Cross referencing the latest median wage report from the Bureau of Labor Statistics [Table 4] shows that average wages in the construction sector in the fourth quarter increased 9.3%.  There’s obviously a lot of demand for workers in the construction industry.

WASHINGTON (Reuters) – U.S. homebuilding surged to a 13-year high in December as activity increased across the board, suggesting the housing market recovery was back on track amid low mortgage rates, and could help support the longest economic expansion on record.
There was also some encouraging news on manufacturing, with other data on Friday showing production at factories increasing for a second straight month in December.

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Commerce Secretary Wilbur Ross, the coolest cat in the crew, appeared tonight for a discussion on economics and trade with Lou Dobbs.  Secretary Ross discusses the current status of the economy and how the two trade agreements have established the foundation for a completely restructured U.S. trade relationship for years to come.
Wilburine notes the Europeans are nervous thinking about the wolverine teeth that will soon be heading in their direction.  Good Stuff.  WATCH:

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What makes the Trump economic team so effective is their independence from any influence outside of the America-First agenda.  President Trump, Secretary Wilbur Ross, and Secretary Steven Mnuchin were already independent billionaires -with wealth gained from private industry- before they entered office.  There is no financial influence upon them except to see Main Street USA thrive….
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White House Manufacturing Policy Advisor, Peter Navarro, appears on Fox Business with Charles Payne to discuss the ramification of China ‘phase-one’ and the USMCA for the middle-class blue-collar economy.  Excellent interview, WATCH:

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Excellent sales report from the Dept. of Commerce reflects a 5.8 percent increase year-over year for December 2019.  U.S. consumer sales drive two-thirds of GDP; the December result is another indicator the GDP growth in the fourth quarter will likely be much higher than expected.

(Via CNBC) […] The Commerce Department said on Thursday retail sales increased 0.3% last month. Data for November was revised up to show retail sales gaining 0.3% instead of rising 0.2% as previously reported. Economists polled by Reuters had forecast retail sales would gain 0.3% in December. Compared to December last year, retail sales accelerated 5.8%.

It is weird to see how CNBC takes the good news, cites the factual impact of retail sales on GDP, and then proclaims the economy is likely faltering.  What the heck?
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In advance of the Senate beginning the impeachment trial of President Trump, the upper chamber ratified the USMCA trade agreement with an 89-10 vote.  The agreement now moves to the White House where President Trump will sign it.

The final ratification is the result of two-years worth of renegotiated trade reform, and the outcome gained bipartisan support in both the House and Senate.  The only republican senator who voted against the deal was Pat Toomey of Pennsylvania who is concerned the USMCA will weaken the position of Wall Street multinationals.
Nine democrat senators did not support the agreement because there wasn’t enough verbiage to support their climate change priorities, and the USMCA does not align with the Paris Climate Accord.  [Vote Tally Here]

USMCA gives American producers better access to Canadian dairy markets, and creates a cornerstone for a revitalized U.S. manufacturing base.  The deal has much more strict rules of origination for the auto-sector with 75% of parts and materials must be made in north America.  Combined with the requirement that 40% of those industrial parts must come from plants where workers make a minimum of $16/hr, the U.S. auto-industry will gain significant benefits.
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Treasury Secretary Steven Mnuchin appeared on Fox News with Brett Baier for a more detailed discussion of the U.S-China ‘phase-one’ trade agreement.  Additionally, Secretary Mnuchin discussed the status of sanctions with Iran and his view on impeachment.

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…and Brett Baier is a human cabbage patch doll.
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