Displaying items by tag: Trump
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.
Those close to the investigation report that the Mueller special counsel, or “the probe”, is pushing hard and is close to wrapping up the obstruction of justice element of their investigation. Now, there are reports that Donald Trump will meet and speak to Robert Mueller under oath. Additionally, the Senate Judiciary Committee has requested to speak with Jared Kushner, who Bloomberg reports is spooked and won’t agree to be interviewed. The Senate is now planning to release transcripts of other conversations held during its investigations, conversations which apparently made many potential interviewees fearful of speaking.
FINSUM: Whether you think the investigation is a witch hunt or a warranted inquiry, it appears that the whole situation is building towards a climax.
Special counsel Robert Mueller’s investigation is reportedly pushing forward its investigation and is close to wrapping up the obstruction of justice aspect of its inquiry. Mueller is interviewing people closer to the president’s inner circle, but it is unclear if he will bring any charges. Trump has responded to the most recent interviews by offering to go under oath in an interview with Mueller, which is now scheduled to happen in the next few weeks.
FINSUM: It looks like Trump is going to set the record straight, under oath, with Mueller. Stay tuned.
There is no doubt about it, the midterm elections of this year are going to be an enormous challenge for the Republican party. As the election in Alabama last month showed, the tide has swung politically, and many Republicans looking at reelection are facing tough campaigns or have resigned rather than run and lose. Examples of the challenge abound, such as Republican congressman Frelinghuysen from New Jersey, who is facing his first real test in 23 years. History also doesn’t suggest a favorable result, as the midterm election often acts as a referendum on the White House. Democrats got beaten in the midterms after both Clinton and Obama’s elections.
FINSUM: With Trump’s approval rating quite low, it does seem like a lot of the public might retaliate against the party by voting against their GOP congressional candidates.
One of the big worries that many analysts have about what could end this relentless bull market is the prospect of a global trade war. Nations may turn to constantly trying to undercut one another in a fruitless race to outcompete that could damage all economies involved. Well, the odds of that occurring are looking stronger today as President Trump has just issued a stark warning to China—the US’ largest and most contentious trading partner. The message was the president’s approval of broad tariffs on Chinese solar panels and washing machines. Beijing reacted angrily to the new tariffs, saying it had “strong dissatisfaction”.
FINSUM: We don’t know where to stand on this issue. On the one hand we firmly believe that countries need to and should protect themselves from unfair competition. However, in a larger scope, such efforts can seem more like winning a battle and losing a war.