There have been relatively few updates on the Trump probe in recent weeks. Ever since the debate over whether Trump should let Mueller interview him calmed down, there has been little news. Now, reports are coming out that a group of investors in the Kushner family business—the family of Trump’s son-in-law—have been subpoenaed by the IRS and the Department of Justice. However, at this point, reports say the subpoenas are unrelated to the more broad probe into the White House’s connection to Russia.
FINSUM: Hard to see what is really going on here, but suffice it to say that the overall probe is deepening.
A couple of weeks ago all the talk was about how President Trump was eager to have a one on one interview with Robert Mueller in order to set the record straight. Now, the reports are shifting that Trump should not speak to Mueller. Republicans think not speaking would be wise considering new documents which reportedly show bias in the investigation. One explanation of the recent reports is that Trump is trying to see if not speaking to Mueller would be acceptable to the public, or whether it would hurt his image.
FINSUM: If you think this whole investigation is a witch hunt, then it makes sense that Trump should not take the risk of incriminating himself by talking to what is assumed to be a biased investigator. If you have the opposite view, then not talking looks like he has something to hide.
InvestmentNews has done a broad survey of US financial advisors’ views of Trump and the results are in. The survey was of 745 advisor readers of the site and the study found that Trump was more popular among advisors than the general public. 50% of advisors approved of Trump while 44.8% disapproved. This compares to 39.9% and 55.6% amongst the general public. However, many advisors said they approved of Trump from a financial perspective but disliked his overall behavior.
FINSUM: We are uniquely placed to comment on this given all the reader feedback we get. We would say that, if anything, this poll discounts the president’s support amongst the advisor community.
This week’s news has been rife with articles on President Trump and his apparent push to try to firm special counsel Mueller over the summer. Now Bloomberg has put out an article commenting on the implication of such an effort (if it is true). In a balanced view, Bloomberg says that such behavior, even if true, would not add to any obstruction of justice case against Trump, and that any problems it would cause would be on the political side, not the legal one.
FINSUM: To be honest, we are perplexed by the firestorm over this. Trump did not have Mueller fired. Simply looking into it, even if true, doesn’t seem to constitute anything.
While all the focus is on a possible trade war between NAFTA countries, and possibly, with China, there is another area where President Trump is trying to counter the rising power of Beijing. That area is in technological development. New reports out of the White House indicate that the president and his team consider the development of a 5G mobile data network of critical importance to combating China’s investments in the same area. The White House considers its development so crucial that it likened the need to the US’ effort to build the interstate highway system in the mid-20th century.
FINSUM: The scope of why the administration feels this way is not immediately clear, but what is clear is that America’s telecom industry is poorly suited to developing 5G because of its oligopolistic structure and lack of domestic manufacturers.