Politics

(Washington)

First it was North Korea calling the summit into question, and then this week President Trump cancelled the meeting entirely. Now, despite Trump’s cancellation, Pyongyang says it will still meet with the US. Just minutes after Trump cancelled the summit, a senior North Korean leader said “We had set in high regards President Trump's efforts, unprecedented by any other president, to create a historic North Korea-US summit … We tell the United States once more that we are open to resolving problems at any time in any way”.


FINSUM: While it might be a bluff, we take it as an encouraging sign that North Korea is so eager to meet with the US.

(Detroit)

Just when it seemed like trade war ambitions were over for the White House, they are rearing their head again. President Trump has ordered the US Commerce Department to investigate whether the extensive use of foreign parts in the US auto industry is a threat to national security. The mandate he is using for doing so—Section 232 of the Trade Expansion Act, is the same as he used for his tariffs on aluminum and steel last year.


FINSUM: While we do understand the national security considerations, this could hurt both the car industry (because of increased costs) and spark retaliations from trading partners.

(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.

Page 9 of 62

Contact Us

Newsletter

Subscribe

Subscribe to our daily newsletter

Top
We use cookies to improve our website. By continuing to use this website, you are giving consent to cookies being used. More details…