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CBS'S Robert Costa:  What's your suggestion about how she (Kamal Harris) should handle that Republicans are saying she has fumbled the ball on immigration, on border policy? What's the answer for how to define her on herself on that issue? Senate Majority Leader Chuck Schumer:  The answer is very simple. And that is that Democrats, along with the Biden Harris administration, put together the toughest border policy that would have stopped the flow from the border that we've seen in a very long time. In fact, initially was supported by Republicans. So many of the leading Republicans said, "this is tough, we're all for it," (McConnell, Lankford, others). And then all of a sudden, President Trump says it, he said it explicitly. He said, "I don't want them to solve the problem, I want chaos at the border so I can run on it with the election." We're happy to bring that up. And case after case, when we bring that up, the voters side with us, not with their policies. We were willing to fix the border. Trump and his Republican minions said, don't fix it, we want chaos for political purposes. Who do you think's going to win the argument? ...

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The U.S. Supreme Court  narrows the scope of the ban to people who have no bonafide relationship with a person or entity in the U.S., and allows partial implementation of the ban on 6 countries sought by the Trump administration. The court will hear the full case with oral arguments in October to decide. Earlier lower courts had reversed the travel ban, and president Trump filed an emergency appeal at the high court. The narrowing of the implementation is also applied to refugees. Chief Justice Roberts worked to negotiate a compromise on a middle approach, getting Justices Kennedy and the four liberal justices on board for the unsigned opinion. Conservative Justices Alito, Thomas and Gorsuch offered a partial dissent saying that the compromise was not workable in practice.

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Weigel of the Washington Post compares how the Affordable Care Act was passed in Congress in 2012 with the push by Speaker Ryan and the Trump administration for the American Health Care Act in 2017. Republicans he says are making the same mistake as Democrats by rushing this through Congress. There is no broad consensus on whether all Americans should be entitled to health care as in Europe and Japan for their citizens, and health care is priced in a way to make it expensive for the state to provide- until the twin problems are solved by creating a new culture in the U.S. that sees things differently, politicians will come up with their own plans based on their interests and which groups they serve.

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This Der Spiegel report says there is a loss of American prestige after one year of the Trump administration. It accepts that rising inequality and impunity for the powerful may have led to the reaction in the election. Yet it says American leadership is missing after four decades of American leadership and ideals that led to the rebuilding of Europe and Japan.

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In a tactical move the Trump administration links a trade deal with South Korea with progress on the denuclearization of the Korean peninsula and bringing North Korea to talks on denuclearization. After some offers by the North to open this issue in talks the progress is stalled. The move is an effort to bring more pressure on both Koreas on this issue.

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The Trump administration is taking aim at drug costs under Medicare inflated by deals pharmaceutical companies make with industry go-betweens.  These are the secret deals of pharmaceutical companies with pharmacy benefit managers who negotiate the price of drugs for insurers and employers.

Under the proposal pharmacy benefit managers lose the legal protections that let them take rebates from drug companies.

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European has a completely different perception of events in Europe than the US which has distanced itself. EU president Von der Leyen says- “A new era is upon us. Europe faces a clear and present danger on a scale that none of us has seen in our adult lifetime … We are living in the most momentous and dangerous of times.” And it is has the room in its budgets and the willpower to back it up without US help. $30-$40 billion in EU aid to Ukraine when US aid to Ukraine ended this week by the DJT Trump administration. Part of the $650 billion in new defense spending found in the space left from lower spending for decades of less than 2%, from an increase of 1.5% in spending on defense. And the $150 in loans from joint EU borrowing on capital markets.

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This WSJ editorial says president Trump can exit because president Obama never really built support for the Iran Nuclear Agreement of 2015. Stephens in the NYT cites a Pew poll at that time showing only 21% supported it with 49% not supporting it.  This editorial says the deal made by Obama gave Iran $100 billion of sanctions relief and a chance to revive its nuclear weapons program after a 15 year waiting period. It says this increased conflicts and wars in the Middle East. President Trump said in his announcement on May 8, 2018 that the deal never led to "peace, or calm and never will." Another issue of winning popular support is mentioned, as WSJ says president Obama did not submit it as a treaty to the Senate for approval. The Trump administration has its own work now to build support with Europe in fixing the nuclear deal's weaknesses, and winning support from Democrats as well as Republicans for sanctions and new negotiations that help bring a better more peaceful Middle East, so that Iran can focus on lifting living standards and improving the economy, setting a new course. ...

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Pennsylvania is one of the critical states in the 2020 U.S. election. It is also one of the states hit hard by the coronavirus. Pennsylvania has also seen the impact of layoffs in the vital steel industry during two decades of neglect by previous administrations till the tariffs on steel from China by president Trump began a reversal of this trend. Unemployment is high in Pennsylvania as a result of the pandemic. 51 of 67 counties in the state recorded unemployment rate increases for 2020 that are in the top 20% for the U.S. Pennsylvania and Michigan are two critical states for the 2020 election. Pennsylvania has done much worse than other states including Michigan when it comes to the impact of the pandemic on unemployment rates in all counties. Voters could decide to blame the Democratic governor for lockdown restrictions  that worsened unemployment or president Trump for his approach to the coronavirus. There is also concern among conservative voters about the kind of change they seek between steady improvement in unemployment and a shift to radical changes in the economy. ...

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President Obama in an interview with Steve Inskeep of National Public Radio says that blue collar men, the white working class, have suffered in the last decade, and Trump is exploiting their fears and anxieties. Yet he made no mention of the large parts of the middle class with low levels of assets, and the extreme inequality discussed by Fed chairwoman Janet Yellen at a Boston Fed conference on inequality in October 2014. Obama addresses the war in Syria and Iraq in a similiar manner by not mentioning the millions of refugees in that region and the million that have created a refugee crisis in Europe. He attributes the problem more to media pursuing ratings than any errors of the administration in this interview with NPR, including some of it directed by pockets in the Republican Party. This ignores the many editorials and op-ed pieces on the subject from both sides of the spectrum, the Wall Street Journal and The Washington Post.

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The first use of chemical agents in Europe since 1945 in the poisoning of a former Russian spy led to strong coordinated action by the European Union countries, Germany, Britain and France with the U.S. Trump administration. This NYT report shows how the action was taken and the meetings of Macron, Theresa May and Merkel that led to strong action. Because Russia is energy supplier to Europe and the Social Democrats in Germany as part of a coalition in Germany not favoring strong action earlier governments in the EU shied away from such action.

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Gerlad Seib points out that one should look less at what president Trump accomplished in the first 100 days and more at how he operated and learned during this initial period. This is certainly true because much of what happened in the first 100 days contradicts some of the tone that Trump setup during the campaign. When it comes to governing Trump has made an effort to learn and adapt and show resilience in the face of early setbacks on the travel ban and the health care bill, the Flynn episode. After this early period Trump took on a more disciplined approach, gave more room to and listened to more respected advisors- Tillerson on foreign affairs in shaping policy with Russia leading to Tillerson's presence at Lucca massacre memorial in Italy sending a clear signal about U.S. policies in line with its role in the past century in world affairs, Gary Cohn and Ross on economic policy and seeking Cohn's advice on tax plan, Ross's on NAFTA negotiations with Mexico. As a result the NAFTA fears were calmed down with statements by Wilbur Ross, the Commerce Secretary, that the goal was a win-win relationship with Mexico. Trump worked with his party in Congress to have the Supreme Court nomination of Gorsuch approved. Meetings with Merkel of Germany and Jinping of China were carefully planned and new relationships established as Seib points out, without ruffling trade relations. The appointment of Robert Lighthizer, as Trade Representative, also shows that efforts to give the U.S. a more level playing field in trade will be resolutely pursued in the win-win context. Lyrarc has profiled Lighthizer earlier in this decade after his op-eds in the media as he correctly anticipated the changing public mood on the need for fairness in trade relations. On relations with China and South Korea, Jim Mattis has taken the lead, and Pence's visit to South Korea also show deftness in handling what is one of the most difficult issues in foreign affairs. Mattis and Tillerson also have helped reinforce the Republican party policies on NATO and Europe, with the visit of NATO secretary general Stoltenberg to the White House. In the end it is how much you can learn in the first year, how much you listen, and the courage to act in difficult situations, the willingness to act contrary to one's instincts and self interest where necessary, that matters. This is especially true in an environment where as Seib points out the Democratic Party stands opposed to the Trump administration following a bitter election campaign.   ...

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Binyamin Applebaum cites different experts on how U.S. Fed policy could play out in 2017-2019. He cites Fed governor Dudley that there is increased uncertainty under the Trump administration, and other economists who say that aging population, lack of innovation, and steady growth under the Obama administration with falling unemployment, make it unlikely that growth will jump well above 2%. The Fed's own forecasts are for for under 2% growth in 2017 and 2018, and Applebaum says this is not expected to change by much. Janet Yellen does not see a huge stimulus as a positive, says Applebaum, because it would increase the deficit at the wrong time. He cites Yellen who prefers to see more fiscal space now that unemployment is down to 4.6%. Steady growth in the view of Fed officials has taken up much of the backlog of people looking for work since the 2008 crisis. Yellen sees some fiscal space as desirable with high debt to GDP ratio at 77 percent, so that the government could respond to some adverse event in the future. A Republican Congress is also averse to sudden increases in the deficit. See the link to views about the uncertainty of how things can play out in a separate article by Neil Irwin of NYT. ...

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Jared Bernstein of the Economic Policy Institute points to trade barriers reducing competition and free trade that should raise an outcry when free trade and competition advocates focus alone on the Trump steel tariffs. He points to estimates that show $90 billion in additional costs to Americans from the barriers that prevent Americans from paying world market prices for surgeries and medical treatment, prices similar to what is paid in advanced countries like Germany, Britain and France. A bigger barrier in pharmaceuticals prices being sheltered from market competition worldwide costs a huge $370 billion in additional costs to Americans. These two costs in healthcare would help Americans by a magnitude compared to tax cuts that do not work for average Americans with the business tax cut going more into share buybacks than into increasing wages or capital investment in 2018.  Bernstein points to Neil Irwin's column in the NYT that flags statements such as Senator Mike Lee, Republican, that the steel tariffs are a huge job killing tax hike, as being misleading. Bernstein says two actions were never taken that would have used benefits of free trade to help affected communities that lost jobs in industries such as steel and textiles, other industries affected by foreign competition.  He lists these steps as sectoral employment training, apprenticeships ,and job creation efforts in the worst affected areas. Basically no one really knows what is good trade policy, the textbook concepts and theories are out of date when countries can subsidize particular industries such as steel and dump products into the American market. At a press conference on CSPAN with the Swedish prime minister Mr. Trump stated that China was exporting more than what is officially shown as there are transshipments from other countries, some of them with no steel mills.  As Mr. Trump stated at that press conference he was elected partly because of the worst affected communities- in places such as Michigan and other states in the midwestern U.S.- that suffered from unfair trade. Bernstein admonishes the economists and politicians, media, for the headlines that are misleading in showing that bad trade policy is being pursued and trade wars are being started. This deserves attention because the Trump administration and advisors such as Lighthizer who served in the Reagan administration seek fair trade, and the Commerce Secretary Wilbur Ross successfully pushed for NAFTA trade deal renegotiation not the outright rejection of NAFTA that was mentioned in the election campaign. Ironically no one is helped by this trade rhetoric and misleading headlines. In fact the strengthening of the U.S. currency as the huge trade surplus of China goes into U.S. assets, and with the election of Mr. Trump, gives foreign competitors a continued advantage. And in fact Japan, South Korea, China, had a mild response to the tariffs as reported, because these countries are aware of global overcapacity created especially by China which produces 50% of the world's steel, and as China shifts to higher technologically value added products closing many older steel mills. ...

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During 2018 negotiations China's vice premier Liu He asked finance business leaders "We need your help." This included  Black Rock, Goldman Sachs, JP Morgan, and others. In exchange China which has protected its financial markets from American finance companies now offered to give some opportunities, though as other companies in other industries have found out this could be limited by other priorities.  The Trump and now the Biden administration are pursuing the decoupling of the Chinese and American economies after learning through two decades that it is damaging to the U.S. economic position in the world. The new law passed by unanimous vote in Congress to be signed into law by president Trump requires Chinese companies to have financial audits inspected by U.S. regulatory agency for them to remain listed on U.S. exchanges. However as the WSJ points out in a separate article this does not restrict Chinese companies access to global capital in unfair competition with the U.S. because the law goes into effect over 3 years giving Chinese companies. American investors can also invest in the Chinese companies on the Hong Kong stock exchange unless their entire thinking process changes seeing what is best for America as best for them. ...

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This BBC report looks at the hundreds of thousands of jobs being created by Biden through clean energy investments and manufacturing across the US,  including in Republican held states. This is changing the economy in places like Dalton, Georgia offering new hope for the future after decades of neglect under Republican and Democratic administrations of Bush, Obama and Trump. It is only president Biden who has turned things around on infrastructure and manufacturing in America, and done something about it. With trillions of dollars in investment in infrastructure, clean energy and manufacturing this will change the face of America. Biden said this in the debate, yet most media people don't get it, and have their heads stuck in the past unable to see the great changes that are happening in America for the first time, changes that will shape the decades ahead.

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The president tells a Wisconsin rally that he is not going to let one 60 minute debate obscure three and a half years of hard work. In the ABC interview tonight he says he was sick and feeling terrible that night of the debate, that it was a bad cold not a serious condition. That he should have listened to his instincts while preparing. This episode will be remembered in history as one which showed  an irresponsible media owned by television magnates trying to assert their power on a president who remains popular with the American people, and has the vast store of experience, wisdom and the character to get America through an inflection point, through the challenges of climate change, loss of manufacturing and overconcentration of supply chains in China that previous administrations since Reagan including Clinton, Bush, Obama and Trump had done little about. 

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The Fed and FDIC issue a report on the failure to regulate SVB and Signature bank. It says the failure to regulate stems from the law passed by Congress leaving a gap for regulation of mid sized banks, and the appointment of Randall Quarles to the Fed supervisory position by then president Trump in 2019. The result was a 40% decline in hours spent by supervisory regulators on the SVB bank even as its assets grew rapidly. Overall the supervisory hours for the Federal Reserve system as a whole declined. This led to cultural issues under Mr. Trump where less regulation the better was the prevailing attitude. Fed report in Fedspeak says- "Staff felt a shift in culture and expectations from internal discussions and observed behaviour that changed how regulation was executed." It would take a special effort by the Biden administration to bring the situation under control to keep the nation's banking system healthy and strong to support the investments the economy needs. After the 2009 crisis and the decade lost to the US economy and the American people from losses in unemployment and savings as a result of deregulated banks, another crisis was prevented. This time the Fed, FDIC, General Accountability Office are all clear about the value and role of regulation in a properly functioning economy, instead of the pushback after the 2009 crisis to regulation. Once again president Biden has shown the way.   ...

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Greg Ip points out in this WSJ analysis that the new NAFTA after negotiations and warnings from Mr. Trump to scrap NAFTA, is not very different from the old NAFTA. Mexico made concessions on auto exports and labor rights, wages. Canada made concessions for the dairy industry. Yet the combined influence of business interests, Canada's lobbying in U.S. Congress and state governments, and the restraint shown by Trump's own advisers prevailed in limiting Mr. Trump's tendencies to go for a "America first" agenda. It shows, says Ip, that there is resilience in the existing order.  It also shows what future trade negotiations with the European Union and Japan over steel and autos could look like. President Trump will continue to face resistance within from his advisers and from exporters, business, Congress, on following an exclusively "America First" agenda. President Trump will need to extol NAFTA in its current version the USMCA, U.S. Mexico Canada Agreement, to get it through the U.S. Congress in 2019.   Mexico's main concessions on autos were to agree to potential tariffs if exports exceed 2.6 million vehicles.  This keeps Mexico's status as a major auto export hub intact. Auto experts say VW and Mazda may simply pay the tariff of 2.5% for lower priced models assembled in Mexico that do not qualify for duty free entry instead of shifting production to the U.S. Current shipments from Mexico are not affected as U.S. demand is weak. Labor rights and higher wages in Mexico's auto industry are a win-win for Mexico and the U.S.. They are supported by the socialist administration of newly elected Mexican president Obrador. Canada's main concession was to expand U.S. access to Canada's protected dairy industry, with Canada already prepared to make the concession. Mr. Trump had also to consider the possibility that excluding Canada from the USMCA would have not passed Congress, and face even more resistance in a Democratic controlled Congress after 2019 elections.  The support Canada has received in Congress does not extend to China, which gets much less support in Congress, leading to higher uncertainty in the negotiations with China and possibly different outcome with the size of the trade imbalance of $1 billion a day factored in.   ...

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Russian president Putin was hoping for an end to sanctions. The interference in the 2016 election was done with the hope that a Trump administration could make a difference in the sanctions after the deterioration of relations in the last year of president Obama.The U.S. Congress has moved to extend the sanctions, with Democrats and Republicans coming together on this issue. This means there is not much that president Trump can do to improve relations. This report in the NYT by David Sanger even goes as far as citing George Kennan from Foreign Affairs publication in 1947, that a "long term, patient but firm and vigilant, containment of Russian expansive tendencies," is likely to be U.S.policy.

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In this WSJ report a top American Defense Department official before resigning says- "I have no problem with feeding China or trading with China. I have a problem with arming China." Advanced or sensitive manufacturing technology is still being approved for export to China says this report in WSJ, even as the US perceives this to be a national security threat. Experts say the Commerce Department report approval process needs overhaul and the US needs close coordination with the European Union on this process. Of the total US $124 billion in exports to China in 2020 only half of one percent needed a license Commerce Department data reviewed by WSJ shows. Of that small fraction of one half percent Commerce Department approved 2562  applications or 94%. This even includes array of semiconductors, aerospace components, artificial intelligence technologies that could be added to China's military. This means that even towards the end of the Trump administration with its talk about national security threats, through the four years 2016-2020, nothing much happened in this important field.  The difficulty that the Trump administration faced and America faces is putting company and business interests first or American security interests and retaining competitive technological advantage interests first. American administrations and business have consistently failed to follow what plain ordinary Americans understand by America first. Even when it is clearly evident that America is handing over sensitive advanced technologies with very little in return, and creating out of nowhere competition that poses serious risks for the national interest, business and administrations operate indifferent to the national interest. Even right into the period when this is making the world a riskier and more dangerous place.   This is the state of affairs today, and the situation is not about Congressmen visiting Taiwan or ships going through the seas in that region, or international law. All that is American policy  and is well known and well understood. What is missing is the right action and the right determination behind other action that is sending a different message at the same time -that the US is oblivious to its own interests. That administrations, even those such as the recent Republican one under Mr. Trump, see a higher priority in following American business wherever it goes in pursuit of individual company interests alone, even if it does not accord with the national interest. Lobbying groups distort what policy should be in the public interest and in the interest of both countries, leading to a breakdown in the whole process itself whenever governments surrender their role of protecting the public interest.  Outshoring manufacturing was bad economically at the level of communities across the US, leading to divisions that weakened the country in the last decade, it was also bad for the economy of the country with loss of the best manufacturing jobs, beyond what economists in their ignorance of the big picture sought to show was the consumer- often the same person who lost a job or stopped seeking work- paying less. It was bad also for China as it created the hyper growth that rapidly contaminated land, air and water and created an inherently unstable relationship in trade with destruction of jobs at a pace that America had not faced with Japan and with which it could not cope. Could a pace that worked for both nations have worked? At the root is the notion that business knows best even if it is in plain sight to every plain American that the country's most advanced technologies are being shipped out. Governments do not fulfill their responsibilities and fail when they fail to tell business what rules are in the public interest, as it was never in the first role of business to protect the public interest. That the European Union has simply followed the US in this has created a problem for both the US and the European Union of deviating from what plain Americans or Europeans see as abundantly clear.  Even in plain dollars and cents business and economists fail to grasp the true cost for the whole country or whole people compared to the benefit for an individual or an individual company. The cost of wars even small wars can be be trillions of dollars which are borne by the whole country or people, and most of it by the middle and less economically well off classes in a country. Creating a belligerent competitor in world affairs and the risk of conflict and war is to lose trillions of dollars when the benefit to an individual, groups, or individual companies is no more but a tiny fraction of that trillion dollar cost, not including what all the plain people pay in human lives. It is not that anyone benefits as the people in the belligerent competitor country follow the same pattern of loss that would happen in the US. One should ask is it not a loss for China also? The example of Imperialist Japan is not so far off in time for Americans or Asians including the Chinese and Japanese people who suffered so greatly to forget. Business remains oblivious to the public interest not just for America but for the world, individual companies do not see it as their role beyond that of pursuing individual company interest. Is it not then for the government to set the rules. Is it alright for government to not fulfill its responsibilities? Even when this pushes the world faster to into conflicts as technologies take the place of exercise of wisdom in conflict, and even when there are unmet challenges such as climate change that affect the whole planet.  ...

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This report in WSJ looks at the impact of the 2018 Trump tariffs retained by president Biden as the US seeks to reduce its overdependence on Chinese imports and bring back American manufacturing. This followed misguided policies of previous administrations since Clinton that weakened American manufacturing strengths. Have the US tariffs on Chinese goods worked? The WSJ graph with information from US Census Bureau shows that imports from China in 2022 going down to the levels in 2007 of about 16-17% as a share of US imports, down from a high of 21% before the Trump tariffs halted a rapidly rising curve. Imports from Germany, South Korea and Japan in 2022 were down slightly hovering around 4.5%. Imports increased from Canada and Mexico, the US's traditional partners in North America, around 13.5% as a share of US imports for each country. Also increasing were imports from Vietnam. Some of the imports from Vietnam are Chinese products shipped through Vietnam to evade tariffs, and it is not clear whether the figures from Vietnam have been adjusted for this. President Biden is looking at different scenarios in an effort to tackle inflation. One supported by Janet Yellen, an economist at US Treasury is for the US to relax some of the China tariffs. Most economists in previous administrations including Yellen failed to understand what surrendering American manufacturing to China on the scale and speed that happened would do to communities across America that depended on factory jobs. The devastation of these communities has led to increased divisions in America, weakened American manufacturing, and led to outflow of technologies vital for national security and national well being.  Republican senators, US Trade Representative Katherine Tai and National Security Advisor Jake Sullivan are opposed to any relaxation of tariffs. Studies show the removal of the tariffs would have only a small impact on the consumer price inflation index reducing inflation by 0.26%. Lifting some tariffs on school supplies and summer bicycles as proposed by the US Chamber of Commerce would have little or no impact on the consumer price index for inflation. This is because the inflation is triggered by oil and gas price increases stemming from the Russian policies and invasion of Ukraine. This has also aggravated food and grocery costs  through blocking of agricultural imports from Ukraine. An additional factor was the increased demand after the pandemic easing in 2022, but that demand is already easing in July with glut in inventories at Walmart and Target, and excess warehouse capacity at Amazon. It would also send the wrong signal to China that the tariffs imposed by president Trump after a Section 301 trade investigation and based on improper loss of technologies to China are not being taken seriously by the US, says Republican Senator Hagerty of Tennessee. The Labor advisory committee to the US Trade Representative Katherine Tai also opposes any such move after the serious damage done to US workers and to US national well being and security. This happened under the Clinton, Bush and Obama administrations with failed trade policies that ceded manufacturing to China. ...

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China's exports to all countries surged in November by 21% from a year earlier. Chinese made consumer goods and electronic goods were the main products with increased exports. According to WSJ calculations November exports were up 10% to the U.S. and 46% to Asian nations in ASEAN trade group of countries. Some of the exports to ASEAN including Vietnam and Malaysia find their way to the U.S. New tariffs by U.S. on China lead to some products diverted to Asian destinations and reexported to the U.S. China's imports of goods from the U.S. were up 33% from a year earlier but imports of farm, energy and other products and services were below what was expected under trade deals. Experts say Chinese imports of goods covered in the agreement were 55% of the year to date targets. The Biden administration will leave the tariffs on $370 billion in Chinese goods in place. China is not expected to make up the gap by the end of 2020. Experts also say the exports of Chinese goods has accelerated during the pandemic in 2020 and with the size of the second wave in the U.S. In 2021 U.S. imports from China should slow as the U.S. manufacturing recovers following the vaccination effort.  Also expect increased focus on the trade gap as U.S. trade policy continues to focus on closing the trade gap and continuing policy of the Trump administration. ...

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Discussion between New York Times reporter Bruni and Rep. Ryan, Rep Harman in the U.S. Congress. The problems facing the Democratic Party discussed include negativity towards Trump instead of  focus on issues facing working class Americans, and elitism.

Some of the problems can be traced to the Obama administration on trade issues, and inability to relate to working class Americans in midwestern states, that created an opening for the Republican Party and Trump.