Displaying items by tag: Trump

(Washington)

In what should give investors a huge sigh of relief, President Trump has called off a trade war with China. The White House has called off the aggressive approach in light of China’s statement that it would try to increase US agricultural imports there. Trump says it would be good for US farmers, who were threatened with becoming a casualty in a trade war. Democrats are criticizing the president for cutting a deal too easily.

FINSUM: We do think the US has gotten the raw end of many trade deals (not that it did not play a large part in undermining itself), but trying to throw its weight around with China was a risky strategy.

(New York)

In a bombshell disclosure, a government ethics body has found that President Trump did, in fact, reimburse attorney Michael Cohen for the $130,000 payment he made to keep Stormy Daniels from taking her alleged affair with Donald Trump public. President Trump’s White House disclosed the payment as part of financial disclosure rules, with Trump affirming the payment on Twitter as well. The revelation refutes the president’s earlier claims that he had no idea about the payment.

FINSUM: So the reimbursement is one thing, but potentially more significant is the fact that this payment was not disclosed properly, which according to the Office of Government Ethics (OGE), was a violation.

(Washington)

US president Trump and North Korean leader Kim Jong Un have been planning a groundbreaking summit in the near future. The meeting has been touted for months as breakthrough in relations, especially following the friendly developments between North and South Korea recently. However, the whole meeting is now in doubt as North Korea has threatened to cancel. The country is angry over US-South Korea joint military training operations and does not want to be forced into a corner by the US over its nuclear program.

FINSUM: We are not foreign policy experts, but if the US wants to make progress with North Korea, we should make sure to keep them calm enough to meet with us. What happens thereafter is a separate decision.

(Washington)

In what will likely lead to a sigh of relief from Congressional Republicans, Trump made clear yesterday that he will not take any action to shut down the DOJ investigation into his administration’s ties to Russia. The comments came shortly before the Senate judiciary committee passed a bill to protect special counsel Robert Mueller from being fired. That bill has very little chance of becoming law, however, because of the composition of Congress and the position of Senate majority leader Mitch McConnell.

FINSUM: We think this is a very wise move from Trump. No only does it make him appear more innocent of any wrongdoing, but it also makes him look more committed to the investigative process.

(New York)

Those close to Michael Cohen and the situation say that the lawyer seems poised to turn on his friend, Donald Trump, if put under pressure by investigators. At least that is what long-time Trump legal advisor, Jay Goldberg, is telling the president. Goldberg was a former prosecutor who has advised Trump since the 1990s. Trump reportedly called Goldberg asking for advice, and the Wall Street Journal quotes Goldberg as saying “On a scale of 100 to 1, where 100 is fully protecting the president, Mr. Cohen ‘isn’t even a 1,’”. He explained that if Goldberg were faced with criminal charges, he would tell all.

FINSUM: So it looks like Goldberg is going to tell all, but what nobody knows is how much of value he might really have to say.