Politics

(Washington)

Donald Trump’s lawyer, none other than former NYC mayor Rudy Giuliani, said on the record very recently that Trump has the power to pardon himself. Despite that power, though, Giuliani says Trump likely won’t do so as it would probably lead to immediate impeachment. The statement falls in line with Trump’s argument that he cannot be charged with obstruction of justice because “he could, if he wished, terminate the inquiry, or even exercise his power to pardon if he so desired” (quote form Trump’s legal team) based on the far-reaching pardoning powers of the US presidency.


FINSUM: From a legal perspective this is a quite an interesting question. But given the obvious political perils involved in exercising this theoretical power, we suspect this might be a moot point (but maybe not).

(Washington)

You know that Mercedes or BMW you have sitting in your driveway? Kiss it goodbye, maybe. In a move that seems likely to cause as much consternation at home as abroad, President Trump is planning a broad ban on German luxury cars. Trump’s proposals have ranged from a 25% tariff on German cars (extremely heavy) to outright bans. He reportedly told French leader Emmanuel Macron that he would maintain his trade policy until “no Mercedes models rolled on Fifth Avenue in New York”.


FINSUM: BMW alone makes $8-9 bn in annual revenue from sales of cars in the US. If Trump wanted to start a bitter trade war, this would be a good first step. Americans aren’t going to like this one either.

(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.

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