By Denny Gulino
THE WHITE HOUSE (MaceNews) – One of the many targets of the president other than the “stone-cold crooked” Bidens – who he Thursday called on China to investigate, apparently in case Ukraine isn’t up to the job – is doing the White House a favor.
First, though, as he left for a Florida speech, Trump told the ropeliners, “China should start an investigation into the Bidens, because what happened in China is just about as bad as what happened with Ukraine.”
Specifics of what happened in China involving the Bidens are still lacking and House Speaker Nancy Pelosi and House Intelligence Committee Chairman Adam Schiff quickly delivered the obligatory countercharges.
She tweeted Trump had delivered “the latest example of him putting his personal political gain ahead of defending the integrity of our elections.”
Schiff, after a closed-door session with the recently resigned Trump envoy to Ukraine, .called it another “fundamental breach of the president’s oath of office.”
The Wall Street Journal reported during the day a rather unsurprising exclusive, saying Trump lawyer Rudy Giuliani had a hand in the recall of the ambassador to the Ukraine.
If you’re still reading, then you can count yourself among those who are at least vaguely aware that there are important developments other than the impeachment inquiry and the effort to defeat it.
You might have even heard something disturbing about European cheeses, single malt Scotch whiskey, olives and olive oil and even German bulldozers. In fact there are eight pages full of imperiled European products listed at the USTR site, ready to be tariffed beginning in about two weeks.
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Those are not to be confused with the $250 billion worth of China products set to be hit with up to tariffs stiffened to 30% three days earlier, on Oct. 15. Reporters keep shouting the question of whether those China tariffs might be delayed given talks with China officials finally resume in week.
The president has ignored that question, preferring to focus on the impeachment inquiry, although earlier in the day, when leaving for a Florida speech – Democrats are “maniacs” – he did repeat, “I have a lot of options on China but if they don’t do what we want, we have tremendous power.”
In the evening, when he got back from Florida, he posed for selfies with a group of cheering interns and then did something unusual. He merely waved and walked inside the White House, apparently having said all he had to say earlier in the day.
In other words, nothing new since his harsh words about China at the United Nations last week, followed by more harsh words later on.
Back to those imported cheeses and Scotch whisky, they are all part of the $7.5 billion worth of punishment the U.S. was given permission to inflict on the EU by the World Trade Organization as retaliation for impermissible government support for Airbus, costing Boeing the sales of about 300 planes.
The U.S. lost a similar case involving Boeing subsidies but that’s another story. Trump hailed the decision as a pretty big win and claimed the WTO has treated the U.S. a lot better since he won the election.
Funny thing, though, is that Trump and his administration is not about to return any favors to the WTO which remains on that White House enemies list. In fact the administration’s refusal to approve judges for the WTO appeals panel means that by the end of December, it will become paralyzed by vacancies and won’t be able to deliver any more wins or losses.
The Airbus complaint was originated way back in the George W. Bush administration and the Trump administration, despite claiming the win, had nothing to do with it.
Talks with EU officials are to begin soon and if they go well, that eight pages of tariffed products might be cut way down. If not, Europe may find a way to retaliate even though the WTO supposedly says that’s not among the options.
Meanwhile, if you want to update your calendar how about a recap of what’s on the docket in the next two and a half weeks. Again, Chinese officials begin talks with USTR Bob Lighthizer and Treasury Secretary Steven Mnuchin Oct. 10. Five days later another $250 billion worth of tariffs hit China products, including some consumer products popular in the U.S.. Then on Oct 18, those tariffs on European products click in.
A week from next Tuesday, the day before those China tariffs get upgraded, the International Monetary Fund releases its latest World Economic Outlook, expected to see the forecast for worldwide growth trimmed again. In July growth was pegged at a “subdued” and “precarious” 3.2%, a tenth less than in April.
It’s likely that weakening demand and, like in July, “uncertainty around trade agreements” will again get most of the blame. The Trump administration is not the only source of that uncertainty, given the impending Brexit deadline at the end of the month.
At the end of the week after next, the closing IMF news conference on Saturday. It won’t be the same without Christine Lagarde, who has moved on to a job where she will no longer be subject to the wishes of the United States, the IMF’s dominant shareholder. Instead she’ll be wrestling with a now fractious European Central Bank Governing Council.
The closely watched Institute for Supply Management measure of momentum in the services economy signaled continuing expansion, though somewhat decelerated. The government’s report on August factory orders showed a slight decline and a year-over-year setback of a tenth of a percent, not quite the disaster the markets saw in the manufacturing ISM earlier in the week.
On Friday, the September jobs report, with estimates around 140,000 to 150,000 additions to payrolls, helped again by more Census hires. Anything above 100,000 is seen sufficient to keep job creation on trend yet anything that low would likely greatly disappoint the stock market.
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Contact this reporter at: denny@macenews.com