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
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
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.
A highlight video of the state visit by Prime Minister Scott Morrison and Mrs. Jennifer Morrison. Following video, the delayed transcript of the joint press conference.
.
[Transcript of Joint Press Conference] PRESIDENT TRUMP: Well, thank you very much. Please. We had a spectacular morning and it’s an honor being with the Prime Minister and Mrs. Morrison. Thank you very much. Australia is a fantastic country and a brilliant ally.
We just spent a lot of time together with our representatives, and they get along very well and we’re doing a lot of deals. And we talked military. We talked trade. We talked about everything you can talk about. And we came to the same conclusion, I think, in every case.
But I just want to say it’s an honor having both of you here. Thank you very much. You have a truly great country and I don’t think we’ve ever had a better relationship than we have right now. (more…)
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:
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.
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]
.
[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. (more…)
President Donald Trump and Australian Prime Minister Scott Morrison will be holding a joint press conference from the East Room at approximately Noon ET.
[UPDATE: Video Added, Transcript will follow]
President Donald Trump and First Lady Melania Trump participate in the arrival ceremony for a state visit by Australian Prime Minister Scott Morrison and Lady Jenny Morrison. [Video and Transcript Below]
.
[Transcript] PRESIDENT TRUMP: Thank you. Prime Minister Morrison, Mrs. Morrison, members of the Australian delegation, and distinguished guests: Today we celebrate the long, cherished, and unwavering friendship between the United States and Australia. (more…)