Every quarter, CNBC surveys its Global CFO Council to gain insight into the status of the current global economy. The CFO council is comprised of Chief Financial Officers of the world’s largest 113 companies that combined are worth nearly $5 trillion. Interestingly the council is comprised almost exclusively of multinational corporations who are generally opposed to President Trump’s MAGAnomic trade reset.
However, in the third quarter survey the CFO’s note that only one economy in the world is currently improving, the United States.
The multinational CFO’s (Wall Street) generally rail against President Trump’s trade and tariff proposals in almost all financial media. These are the same multinationals who decry President Trump’s deployment of tariffs as a trade negotiation strategy. However, when it comes to actually quantifying the growth rate of the global regions covered, they admit the U.S. is where the current and future growth is most expansive.
[…] The fact that the U.S. appears to be pulling away from the rest of the world hasn’t gone unnoticed, at least not in the White House. At a speech last week at the Economic Club of New York, Trump’s top economic adviser, Larry Kudlow, said “the U.S. is the hottest economy in the world today. We’re crushing it.”
But wait a minute.
For some time now, the “experts” have been telling us that the U.S. was just riding a global growth wave. The improved economy here had nothing to do with Trump’s deregulatory efforts, or his pro-growth tax cuts, or the sharp uptick in optimism once he got elected.
[…] Now it appears that the U.S. economy is accelerating, while the rest of the world is in neutral. (read more)
Not only is the U.S economy the place to be for investment opportunity and the highest rates of return; but all sectors of the economic base are expanding and generating overall GDP growth.
Orders for durable goods reflect the underlying businesses are predicting future growth, long-term growth. Trucks and heavy transportation equipment orders continue growing by double-digits (currently 13%). That is a massive investment internal to the underlying U.S. economic expansion.
During a U.N. press conference President Trump was asked if he rejected a meeting with Canadian Prime Minister Justin Trudeau. President Trump affirmed he did reject a meeting over the ongoing conflict within the U.S-Canada trade issues. CTH Readers will likely remember when President Trump was going to announce the U.S-Mexico trade deal, Trump attempted to call Trudeau in advance. Justin from Canada rejected the phone call.
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Justin and Chrystia from Canada have made a political decision to reject any trade negotiations in favor of using conflict with President Trump to aide their domestic political agenda. Justin and Chrystia are counting on U.S. political opposition to block POTUS Trump from ending the tri-lateral NAFTA deal.
However, what Justin and Chrystia have not considered (nor anyone else), was U.S. Commerce Secretary Wilbur Ross and President Trump anticipated a political approach several months ago. No-one dissects the details within a contract better than Commerce Secretary Wilbur Ross. He is legendary in the business world for this specific skill-set.
There is a very good reason why the U.S-Mexico deal was structured with strong benefit toward the Mexican economy. POTUS Trump and Wilbur Ross knew prior corporate investment in Mexico, tens of billions, combined with modifications to the ‘Rules of Origin’ would benefit both Mexico and the U.S.
Specifically, EU auto companies using Mexico for manufacturing would need to add to their investment within Mexico to meet higher content requirements.
Additionally, within another part of the strategic agreement, President Trump and Wilbur Ross structured the big picture to enhance U.S. investment in Mexico in the energy sector.
USTR Robert Lighthizer then executed on the U.S-Mexico strategy by building the framework for a trade bloc that is actually better for Mexico than the original NAFTA. In essence, Lighthizer made Mexico a regional “MFN” (Most Favored Nation).
The result of the U.S-Mexico agreement is a joint trade bloc that enhances the Mexican economy with a much larger (expanded investment) and stronger (industrial/manufacturing) relationship to the U.S. This joint agreement makes Mexico far stronger.
Now, why?
Why was so much emphasis put on making the terms so much better for Mexico than the existing NAFTA?
The answer circles back to the political approach by Canada to oppose President Trump.
After AMLO won the election…. long before anyone was paying attention…. Team USA entered into a joint “trade strategy” with AMLO’s objectives in mind. The AMLO objectives, to expand the Mexican economic base, are based on different policies from the Pena Nieto administration.
In August Mexican trade representative Jesus Seade (AMLO) and USTR Lighthizer (Trump) privately cemented the framework. After the U.S-Mexico deal was announced, in the past six weeks the details have been filled in.
What Canada did not factor into their political approach was the likelihood that Mexico, not the U.S., will actually be the first country to exit NAFTA.
Mexico exiting NAFTA first removes the political leverage from all of Trump’s opposition.
The political dynamic changes. President Trump is then responding to the Mexican withdrawal.
After Mexico announces their exit, the U.S. team will announce the details of the U.S-Mexico deal that are based on a bilateral agreement. The bilateral agreement means the U.S. must also withdraw from NAFTA. This move negates Canada’s ill-fated political scheme.
What’s Canada going to do, start publicly denouncing Mexico?
President Donald Trump and Prime Minister Shinzo Abe of Japan discuss ongoing issues related to North Korea and ongoing intense trade negotiations. President Trump and PM Shinzo Abe have a long history of friendship. The U.S. and Japan have been conducting negotiations for a bilateral trade deal for several months.
At 12:55 of the video below President Trump remarks about the ongoing “con-game” being played by Democrats in the nomination of Judge Brett Kavanaugh. President Trump notes the ridiculous accusations are likely to backfire “in the mid-terms”.
President Donald Trump is hosting a highly anticipated press conference in New York City at the conclusion of the Unite Nations General Assembly.
Press Secretary Sarah Sanders previously tweeted the President will discuss ‘the news of the day’, likely fielding questions on the ridiculous smears against supreme court nominee Judge Brett Kavanaugh, as well as his upcoming meeting with Deputy Attorney General Rod Rosenstein. Anticipated start time 5:00pm EST
President Trump and British Prime Minister Theresa May meet on the sidelines of the U.N. General Assembly. The recent request by the U.K. government for President Trump to keep their involvement in the soft-coup attempt hidden from the public appears in the corner of the discussion; as Prime Minister May notes ongoing talks toward the U.S. and U.K “security relationship” with nervous elocution.
On Day #3 of the U.N. General Assembly, President Trump paused for questions from the international media about topics related to a variety of issues. Video and Transcript.
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[Transcript] New York, NY – United Nations Headquarters.
Q (In progress.) meet with him? He’s asking for a meeting with you?
THE PRESIDENT: If I had time, I would. I mean, to be honest with you, he has to straighten it out. He’s got to be — he’s got to act a lot more humanely. The people are suffering tremendously in Venezuela. There’s no reason for this. So I would certainly be open to it. I’m willing to meet with anybody. Anytime I can save lives and help people — if it’s one life, I’m certainly willing to meet.
Q Mr. President, (inaudible) he has said that its very important for them to be able to work with the United States, but they don’t want to —
THE PRESIDENT: Who?
Q Venezuela has said. But they said also that they don’t want to declare it a humanitarian crisis because they believe that will lead to an intervention, and they have included examples like Chile and other countries. What’s your response to that? Because you have said —
THE PRESIDENT: I just want to see Venezuela straightened out. I want the people to be safe. We’re going to take care of Venezuela. Okay? We’re going to take care of Venezuela. What’s happening in Venezuela is a disgrace.
If he’s here, if he wants to meet — I don’t know. It was not on my mind. It is not on my plate. But if I can help people, that’s what I’m here for.
Q Are you going to ask (inaudible) — are you going to ask to protect your allies in the region after Maduro sent troops to the border in Colombia?
THE PRESIDENT: Our allies are in no trouble. We’re with our allies. Our allies — we are with our allies 100 percent. They have no problem. We met yesterday with Colombia. We had a great meeting with Colombia. And we’ve met with numerous others of our allies and they are absolutely in no trouble.
Q (Inaudible) are you going to meet Mr. Putin?
THE PRESIDENT: I don’t know. I look forward to meeting him again. But I — we don’t have anything set, but I look forward to meeting him again.
Q Mr. President, on North Korea —
THE PRESIDENT: Say it.
Q On North Korea, what needs to happen? What does North Korea need to do —
THE PRESIDENT: A lot of good things are happening.
Q No — what needs to happen — on North Korea, what needs to happen on North Korea? What does North Korea need to do before you will meet Chairman Kim again?
THE PRESIDENT: We are denuclearizing North Korea. We have a wonderful relationship going between our country and them. We’re being helped a lot by Japan, and very much by President Moon of South Korea.
And North Korea — its going along very well. We really have had a tremendous amount of progress since this time last year.
Q Every option is still on the table against Nicols Maduro? Every option is still on the table? Even (inaudible) —
THE PRESIDENT: All options are on the table. Every one. Strong ones and the less-than-strong ones. Every option — and you know what I mean by strong. Every option is on the table, with respect to Venezuela.
We’re going to take care of the people of Venezuela. We have many Venezuelans living in the United States. Many of them live in the Doral area of Miami. I’ve gotten to know them very well. These are great, great people. We’re going to take care of those people. Okay?
Q Secretary Pompeo said today that North Korea might be okaying the inspectors to check their nukes. Can you tell us a little bit more about that? Because that will be (inaudible).
THE PRESIDENT: Chairman Kim wants good things to happen for North Korea. And good things are happening with respect to North Korea. And it’s going to be great for Chairman Kim and great for the people of North Korea. And that’s what we’re all about.
Q What are you going to discuss with the Japanese Prime Minister Abe today?
THE PRESIDENT: A very good relationship with — as you know, with Prime Minister Abe. He was in my apartment just the other day in Trump Tower. We had a very long, couple-of-hour discussion. He loves his country.
He had a tremendous victory in the election, as you know, which I was very happy about. I don’t know if you’re supposed to endorse somebody or not, but I endorsed him and I will endorse him again. He’s a great gentleman and a great man, and a person who is a great leader for Japan.
We have other things to discuss. I think more than anything else, we’ll be discussing trade.
Q Mr. President, where will you meet Chairman Kim in the future?
THE PRESIDENT: I’ll be meeting with Chairman Kim in the very near future. It will be announced. We’ll announce it. In fact, we’re having a press conference today. We’ll start talking about that.
But we’ll be announcing where and when in the very near future.
Q Thank you. Mr. President, you said yesterday that the First Lady will travel to Africa.
THE PRESIDENT: Yes.
Q Which part of Africa? Has she considered going to Angola?
THE PRESIDENT: They’re going to announce it in about an hour. You should be there. She’s got a press conference in one hour. You should be there. They’re announcing she’s going to four countries in Africa.
Q It’s not Angola?
THE PRESIDENT: They’ll be announcing it in about an hour, exactly. She’s going to be making the announcement, which is much more exciting when — than when I make an announcement.
So she’ll be announcing she’s making a big trip to Africa. We both love Africa. Africa is so beautiful. The most beautiful part of the world, in many ways.
Q It is. Angola is —
THE PRESIDENT: Just let me — let me just say that she’s having a news conference in a very short period of time. She’ll be announcing exactly where she’s going, and I hope you’re going to be there.
Q It’s not Angola? Not Angola?
THE PRESIDENT: You’ll see in about an hour.
Q What is your thoughts on the woman questioning Kavanaugh’s accuser tomorrow?
THE PRESIDENT: Well, I think the Senate — the Republicans could not be nicer than the way they’re handling this. They could have pushed it through two and a half weeks ago, and you wouldn’t be talking about it right now — which is, frankly, what I would have preferred. But they didn’t do that.
The Republicans could not be nicer, could not be more respectful to the process, certainly could not be more respectful to the woman, and I’m okay with that. I think I might have pushed it forward a lot faster.
But I’ll tell you what, I know — I know this particular man — Judge Kavanaugh. He’s outstanding. You don’t find people like this. He’s outstanding. He’s a gem. He’s an absolute gem. And he’s been treated very unfairly by the Democrats who are playing a con game.
They know what they’re doing. It’s a con. They go into a backroom, and they talk with each other and they laugh at what they’re getting away with. It’s a con game, and that’s what they play. And that’s about the only thing they do well.
Earlier today First Lady Melania Trump hosted a U.N. reception and delivered remarks on the ‘Be Best’ program to support children. The first lady announced the four nations she will be visiting during her upcoming trip to Africa: Ghana, Malawi, Kenya and Egypt.
Earlier today President Donald Trump delivered remarks at the 15 member U.N. Security Council meeting. President Trump chaired the committee session.
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[Transcript] United Nations – 10:21 A.M. EDT – PRESIDENT TRUMP: Thank you very much. The 8,362nd meeting of the Security Council is called to order.
The agenda for this meeting is: “Maintenance of International Peace and Security: Non-proliferation of Weapons of Mass Destruction.”
The agenda is hereby adopted.
I am honoured to be here today to chair this meeting of the United Nations Security Council. It is also my privilege to welcome the distinguished Heads of State, Heads of Government, Ministers, and other leaders and representatives here with us. Thank you.
I also wish to warmly welcome Secretary General António Guterres for joining us. Thank you very much, Mr. Secretary General.
The Security Council will now consider Item Two of the agenda. I will make a statement in my capacity as the President of the United States of America:
It is a great honor to be here today at this U.N. Security Council briefing to discuss a matter of urgent importance concerning and countering the proliferation of deadly chemical, biological, and nuclear weapons and the means to deliver them.
The nations of the world have long recognized that certain weapons are so dangerous, and can inflict so much suffering, that all of us have a vital interest in preventing their further development, spread, and use.
Since my inauguration, the United States has taken bold action to confront these sinister threats.
Many of us are rightly focused on the dangers of nuclear weapons, but we must never forget the risk posed by biological and chemical weapons.
The United States was one of the first nations to unilaterally renounce the use of biological weapons, and since World War I, we have led international efforts against the scourge of chemical warfare.
Most recently, in Syria, we have twice imposed severe consequences on the Assad regime for using chemical weapons against innocent civilians. I want to thank Prime Minister May and President Macron for their countries’ close partnership in those efforts last April.
The Syrian regime’s butchery is enabled by Russia and Iran. The Iranian regime exports violence, terror, and turmoil. It illicitly procures sensitive items to advance its ballistic missile program and proliferates these missiles all across the Middle East.
The regime is the world’s leading sponsor of terror and fuels conflict across the region and far beyond. A regime with this track record must never be allowed to possess a nuclear weapon.
For this reason, I announced earlier this year that the United States would withdraw from the Iran nuclear deal.
This horrible, one-sided deal allowed Iran to continue its path towards a bomb and gave the regime a cash lifeline when they needed it the most. They were in big, big trouble. They needed cash. We gave it to them.
In the years since the deal was signed, Iran’s aggression only increased. The regime used new funds from the deal to support terrorism, build nuclear-capable missiles, and foment chaos.
Following America’s withdrawal, the United States began re-imposing nuclear-related sanctions on Iran. All U.S. nuclear-related sanctions will be in full force by early November. They will be in full force.
After that, the United States will pursue additional sanctions, tougher than ever before, to counter the entire range of Iran’s malign conduct. Any individual or entity who fails to comply with these sanctions will face severe consequences.
I ask all members of the Security Council to work with the United States to ensure the Iranian regime changes its behavior and never acquires a nuclear bomb.
With all of this said, I want to thank Iran, Russia, and Syria for — at my very strong urging and request — substantially slowing down their attack on Idlib Province and the 3 million people who live there in order to get 35,000 targeted terrorists. Get the terrorists, but I hope the restraint continues. The world is watching.
Thank you also to Turkey for helping to negotiate restraint. Anything the USA can do to help resolve this problem in order to save perhaps even hundreds of thousands of lives, maybe more, we are willing and able. We are available to help.
In my remarks yesterday to the United Nations General Assembly, I laid out my administration’s commitment to building a more just and peaceful future.
Regrettably, we found that China has been attempting to interfere in our upcoming 2018 election coming up in November against my administration. They do not want me, or us, to win because I am the first President ever to challenge China on trade. And we are winning on trade. We are winning at every level. We don’t want them to meddle or interfere in our upcoming election.
As I also mentioned yesterday, we have seen the results of historic efforts to open new pathways to peace on the North Korean Peninsula — on the Korean Peninsula. And that’s something we are extremely proud of.
I am pleased to say that North Korea has not conducted a missile test since last November. It has not conducted a nuclear test since last September. And the hostages have been returned to us. And very importantly, the remains of American heroes are now returning home.
In June, I held a historic summit with Chairman Kim Jong Un in Singapore, where he reaffirmed his commitment to complete denuclearization. Last week, Chairman Kim reiterated that commitment to President Moon at their third summit, and to me in a very strong letter form.
I think we will make a deal. But unfortunately, to ensure this progress continues, we must enforce existing U.N. Security Council resolutions until denuclearization occurs.
However, we have detected that some nations are already violating these U.N. sanctions. This includes illegal ship-to-ship transfers, which must end immediately. The safety of the Korean Peninsula, the region, and the world, depends on full compliance with U.N. Security Council resolutions. Very, very important.
But most importantly, I believe that Chairman Kim Jong Un, a man I have gotten to know and like, wants peace and prosperity for North Korea. Many things are happening behind the scenes — away from the media, which nobody knows — but they are happening nevertheless and they are happening in a very positive way. So I think you will have some very good news coming from North Korea in the coming months and years.
I also very much appreciate what President Moon of South Korea had to say about me last night in television interviews. Working with President Moon has been my great honor. And likewise, working with President Xi of China and Prime Minister Abe of Japan has been a pleasure and an honor.
Each of us follows in the footsteps of countless world leaders, diplomats, and public servants who came here to the United Nations with the same noble goal: to build a future worthy of the patriots — true, true patriots — who sacrificed their lives for our nation and for our future.
To be successful, we need a commitment of every nation represented in this chamber. Acting together, we can replace the horrors of war with the blessings of safety and the beautiful promise of peace.
Thank you very much.
I now resume my function as president of the Security Council and give the floor to the President of France.
There has been a great deal of background activity in the past 72 hours surrounding the U.S. and Canada trade negotiations. However, some of that activity has become more brutally obvious; a deal is not likely to happen.
Against growing visibility the Canadian team of Justin Trudeau and Chrystia Freeland were intent on using opposition to Trump for maximum domestic gain, President Trump declined a bilateral meeting with Justin from Canada at the U.N. General Assembly; and today U.S. Trade Representative Robert Lighthizer told a group an agreement was unlikely.
Additionally, in a video taken today during the U.N. luncheon it is clear President Trump has no time for the political schemes of Justin Trudeau. The moment happens at 02:45 of the video below:
It is difficult to see from the video above, however in the camera angles below it is much more transparent.
Watch video embedded within tweet:
JohnToryWatch@JohnToryWatch
We found the video of Justin Trudeau getting ignored by Donald Trump at today’s UN Secretary General’s luncheon – three camera angles of Justin tapping Trump on the shoulder but it only lasts a split second around the 25 sec mark then repeated around the 46 sec mark #NAFTA#UNGA
At the Concordia Summit in New York, the following remarks from USTR Lighthizer are noted:
“The fact is, Canada is not making concessions in areas where we think they’re essential. We’re going to go ahead with Mexico; if Canada comes along now, that would be the best. If Canada comes along later, then that’s what will happen.
I think Canada would like to be in the agreement. I think the U.S. would like them to be in the agreement, but there is still a fair amount of distance between us. There are very large issues.” (link)
The big issues between the U.S. and Canada are too significant to anticipate any agreement can be reached. Additionally, the Canadian position is not to concede any ground on key aspects relating to their controlled markets.
Canada will not allow negotiations on their “cultural industries”; meaning they will not allow U.S. investment, ownership or competition within the sectors relating to media broadcasting, telecommunications or banking. Additionally, Canada will not eliminate the protectionist tariffs on the dairy industry; and will not stop subsidies for the lumber and aeronautics industry.
Lastly Canada is reluctant to agree to “rules of origin” within manufacturing, that are similar to the U.S-Mexico deal. The Canadian economic model does not currently support heavy industry, and therefore they rely on importing foreign parts for assembly and transshipment into the U.S. market.
If Canada agreed to rules and limits on foreign parts, they do not have the ability to manufacture on their own; and they have no intention on allowing heavy industry to restart which would provide for their needs. A heavy industrial base is not in alignment with the environmental and energy standards favored by the liberal government.
None of these challenges are present within the U.S-Mexico trade agreement. Both the U.S. and Mexico want high-wage manufacturing jobs to support both economies. It is much more likely the U.S. and Mexico will form an economic bloc and both nations will then enter into bilateral trade negotiations with Canada.
Within a U.S-Mexico Bilateral trade deal it is unlikely President Trump would attempt to gain access to the protected Canadian markets. A far more simple solution would be to set terms for reciprocal access of Canadian products into the U.S. Market.
The primary U.S. tool to generate trade reciprocity will be a 20 to 25% auto tariff on Canadian made vehicles. This approach would likely mean the exit of many Canadian auto-factories, and reestablishment of their plants inside the United States.
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This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
The multinational CFO’s (Wall Street) generally rail against President Trump’s trade and tariff proposals in almost all financial media. These are the same multinationals who decry President Trump’s deployment of tariffs as a trade negotiation strategy. However, when it comes to actually quantifying the growth rate of the global regions covered, they admit the U.S. is where the current and future growth is most expansive.
Centinel2012 