Politics

(New York)

Ever since the now infamous “op-ed” about Trump’s inner circle appeared in the New York Times earlier this week, there has been increasing discussion of the 25th amendment, so we thought it would be good to give a quick primer on it. Basically what the amendment allows for is a president’s cabinet to remove them from office if they are deemed “unable to discharge the powers and duties” of the office. The vice president and a majority of the cabinet need to agree in order to remove the president. But if the president protests, it takes a 2/3 majority in Congress to remove the head of state. It has never been used to remove a president and was only ratified in 1963.


FINSUM: Given the likelihood that Trump would protest any move, a 2/3 majority in Congress seems like a massive obstacle for anyone trying to remove the president.

(Washington)

The US and Mexico’s last minute trade deal before a deadline this week left investors wondering what happened to Canada. Trump and the US’ northern neighbor have been in a spat on trade, but the US-Mexico breakthrough has apparently proven a catalyst for renewed talks. Canada’s foreign minister Chrystia Freeland has flown into Washington directly from Europe and will restart talks this morning as part of a last minute effort to reach a deal with the US.


FINSUM: Having Canada in on any new-Nafta deal seems very important, but we don’t doubt that a deal may not materialize given the current environment.

(New York)

Bloomberg has reported that prosecutors from the Southern District of New York have effectively declared war on the president. In the last week it became clear that Michael Cohen had accepted a guilty plea and given testimony incriminating Trump and that prosecutors had offered immunity to Trump’s CFO Weisselberg. In the words on Bloomberg, “Once the Southern District gets its jaws onto a string of crimes, it doesn’t let go”. Weisselberg will likely be required to give information on all criminal activity he knows about, which could pose problems for Trump both personally and in terms of the presidency.


FINSUM: It seems like there is a veritable army of prosecutors and investigators going after Trump right now. It may all not amount to much, but we would expect more turbulence and fireworks.

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