Last night President Trump congratulated Prime Minister Boris Johnson on his great win in the U.K. election, noting the possibilities for a big trade boost are “massive”:

Not accidentally, the geopolitical economic and trade planets have aligned splendidly.   The cornerstone USMCA agreement has bipartisan support and will ratify quickly in congress.  A “phase one” trade agreement with China is likely, and prior plans for a strategic trade deal with the U.K. have increased as a result of the U.K. election.
First rule in geopolitics, it’s always about the economics.  Second rule in geopolitics: refer to rule #1.    Understanding this basic truism is the key to understand how President Trump is able to be so effective.  There are trillions at stake, and many interests.

“Economic security is national security.” ~President Trump

All politics circles back to the underlying economics; whether it is an individual financial self-interest for a specific politician, or whether it is a larger financial interest for a group or even a nation.  Everything is always about the money; and that essential truth is why Donald Trump is so uniquely qualified, influential and stunningly effective.
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President Trump is meeting with the wolverines to discuss the current status of terms for a “Phase One” U.S-China trade deal.  Additionally POTUS tweeted a deal was close:

As we have noted the general objective from President Trump on a “Phase One” deal is a $50 billion agriculture purchase from China that would allow the U.S. to discontinue the supplemental bridge payments to farmers using tariff income.  Details of this possible deal are unknown, but look for a delay in the next round of the December 15th tariffs to secure the Ag purchase.   President Trump will want a written purchase contract.
The financial pundits, most beholden to the needs of the Wall Street multinationals, are overestimating the scale and scope of issues likely resolved within “phase one”.   There is not likely to be resolution to the bigger issues in the U.S-China trade conflict.

Bloomberg reported: “U.S. negotiators offered to reduce tariffs on about $375 billion in Chinese goods by 50% across the board and suspend tariffs on $160 billion in goods scheduled to go into effect on Sunday.”

I would advise to take the Bloomberg report with a grain of salt; their Wall Street-centric voice generally tries to push narrative negotiations to the benefit of multinationals.
Instead, the Trump big picture common sense business approach is: the value of tariff reduction will be directly related to the value of a WRITTEN CONTRACT China purchase.
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U.S. Trade Ambassador Robert Lighthizer traveled to Mexico to put the finishing touches on the revised USMCA agreement.  Ambassador Lighthizer delivered remarks at the signing ceremony hosted by Mexican President Andres Manuel Lopez-Obrador.
U.S. Trade Representative Robert Lighthizer stressed the United States has a stake in Mexico’s success as representatives from the United States, Mexico and Canada gathered in Mexico City to sign modifications to the USMCA, a historic trade agreement.

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It’s funny to watch this transparently predictable stuff play out in real time.
After Pelosi gives the nod for USMCA ratification in the House, Senate Leader Mitch McConnell declares he will not allow Senate support until he extracts his impeachment indulgency fees.

Amid breaking developments on multiple trade fronts which will likely see USMCA passage; and the potential for enhanced China tariffs on December 15th; Commerce Secretary Wilbur Ross appears with Maria Bartiromo to discuss the big picture.
Secretary Ross highlights the manipulation of USMCA ratification and timing by Pelosi to obfuscate the highly partisan political impeachment effort.  Mid-2019 CTH noted this strategic plan was visible and probable.
Ross also discusses the specifics of China, the EU and Brexit as it relates to the global trade reset being carried out in a methodical manner by the Trump administration.  The USMCA will be the first cornerstone domino in a chain of trade events that will fundamentally restructure the nature of all international trade and supply chains.  Great Interview:

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As we have discussed on these pages, the dynamic is severely consequential and the Wall Street multinationals are reacting to the daily details while Main Street gains strength. President Trump is dismantling global supply chains; focusing on bringing high-wage manufacturing industry back to the U.S; and driving a process of profound consequence through economic nationalism.
Titan Trump is winning the economic battle by: (a) repatriating wealth (trade policy); (b) blocking exfiltration (main street policy); (c) creating new and modern economic alliances based on reciprocity (bilateral deals); and (d) dismantling the post WWII Marshal plan of global trade and one-way tariffs (de-globalization).
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Earlier today President Trump hosted a small business roundtable at the White House with various business owners to discuss the economy and the removal of regulatory hurdles. [Video and Transcript Below]

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[Transcript] – THE PRESIDENT: Well, thank you very much, everyone. King Salman of Saudi Arabia, he just called to express his sincere condolences and give his sympathies to the families and friends of the warriors who were killed and wounded in the attack that took place just recently, just this morning, in Pensacola, Florida.
The King said that the Saudi people are greatly angered by the barbaric actions of the shooter and that this person, in no way, shape, or form represents the feelings of the Saudi people who love the American people so much.
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Elections have consequences.  On the same day the U.S. economy reports astoundingly successful jobs growth of 266,000 jobs and a drop in the unemployment rate to 3.5 percent; the Canadian state economic minister reports surprisingly terrible jobs losses of 72,200 jobs and a jump in unemployment from 5.5 to 5.9 percent.
The Canadian economy is roughly one-tenth the size of the U.S. So in equivalent terms the results from Canada reflect a comparative loss of 720,000 jobs on the same day the U.S. revises all figures upward to over 300,000 gains.  A stunning economic contrast:

OTTAWA (Reuters) – The Canadian job market lost a surprise 71,200 net positions in November while the unemployment rate rose to 5.9%, the highest in more than a year, data showed on Friday, as analysts said a repeat of the weak numbers could force the Bank of Canada to rethink its monetary policy.
Analysts in a Reuters poll had forecast a gain of 10,000 jobs and had predicted the unemployment rate would hold steady at 5.5%. […] November’s numbers followed a weak report in October, when the labor market unexpectedly shed jobs despite a likely boost from hiring related to the federal election.

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National Economic Council Director Larry Kudlow appears on Fox Business news to discuss the November jobs report, economic growth and the China trade discussions.
Kudlow highlights the primary point that President Trump has reestablished Main Street USA as the primary focus of policy.  U.S. companies invested in the U.S. economy are doing exceptionally well and receiving the majority benefit.  U.S. multinational companies who are invested overseas are not benefiting as much.  Wall St -vs- Main Street.

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Director Kudlow is correct, if the House can ratify the USMCA trade deal, North America will see a massive influx of investment.
In essence Titan Trump is winning the economic battle by: (a) repatriating wealth (trade policy); (b) blocking exfiltration (main street policy); (c) creating new and modern economic alliances based on reciprocity (bilateral deals); and (d) dismantling the post WWII Marshal plan of global trade and one-way tariffs (de-globalization).
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“These are the best jobs numbers of our lives”…

The Bureau of Labor Statistics (BLS) has released the jobs number for November and the results are astoundingly excellent.  November jobs gains 266,000; the year-over-year wage growth is 3.1% with non-supervisory wages growing double the rate of supervisory wages. The unemployment rate dropped slightly to 3.5 percent.

Additionally, September was revised up by 13,000 from +180,000 to +193,000, and the change for October was revised up by 28,000 from +128,000 to +156,000. With these revisions, employment gains in September and October combined were 41,000 more than previously reported.  [Full BLS Report Here]
Also in November, 1.2 million persons were marginally attached to the labor force. This is a reduction of 432,000 from a year earlier. Those additional jobs are not counted in any labor report because those returning workers were previously not looking for employment; they came off the sidelines and entered the workforce.  AMERICA IS WORKING AGAIN !
The pundits are shocked, s.h.o.c.k.e.d!
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As the House impeachment of President Donald Trump becomes more of a forgone political conclusion it’s worth considering what terms and conditions Senate Leader Mitch McConnell will extract in order to preserve a Trump Presidency.
Most political pundits will not correctly outline the status of the possibilities, because most political pundits are willfully blind to the structure of the McConnell Senate.
First, McConnell doesn’t care about holding a majority position in the Senate.  Whether he is a majority leader or a minority leader doesn’t matter to McConnell. In fact McConnell’s political skill-set does better in the minority than the majority.
The preferred political position for Mitch McConnell is where he has between 45 and 49 republican Senators, and the Democrats hold the Majority with around 55.  Of course with Reid’s retirement, this would now be with Majority leader Chuck Schumer holding office.
Why does McConnell prefer the minority position?
The answer is where you have had to actually follow Mitch McConnell closely to see how he works.   When the Majority has around 52 to 55 seats, they need McConnell to give them 8 to 9 votes to overcome the three-fifths (60 vote) threshold for their legislative needs.  It is in the process of trade and payment for those 8 to 9 votes where McConnell makes more money, and holds more power, than as a sitting Majority Leader.
The 60 vote threshold, and McConnell’s incredible skillset in the minority, is where he shines.  Each of the needed votes to achieve sixty is worth buckets of indulgence to the minority leader.  This is why McConnell never changed the Senate rules for legislative passage.
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