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The Trump economic plan would use tariffs as a tool to get foreign companies to make in the US. It does not include incentives to American companies to create American jobs that won't be offshored and would be expanded, and keep American technologies and incentive based expansion with American companies. In this sense Trump's economic policies are indifferent to whether it helps American companies or not. Biden/Harris are determined to make it America that controls its own destiny. Why would foreign companies care about expansion and building America's leadership in technologies in the Free World, they would use their technologies in their own national interests. Even when they build factories for Chips as TMC of Taiwan is doing in Arizona they do so skeptical of the power of US engineering.  A holistic plan is missing when American leadership is turned over to foreign companies. Biden-Harris would use tax revenues from corporations to give them the best infrastructure and logistics in the world that supports their growth. This alone would add to America's growth by 1+ percentage points considering what we see in Indian growth with or without the best infrastructure. America's infrastructure is dilapidated. Trump lacks a plan to invest trillions of dollars in new infrastructure as Biden-Harris are doing. ...

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Judge Engoron of the New York State Supreme Court is the rarest of judges in his style, demeanor and use of everyday expressions. He was a cabdriver and a music teacher and more like everyday people in America.  NYT shows the 92 page legal decision in which Judge Engoron sets a fine of $355 million in the civil fraud trial of Donald Trump. Engoron cites a poet and uses rare language in his everyman style, saying: "The English poet Alexander Pope (1688-1744) first declared, “To err is human, to forgive is divine.” Defendants apparently are of a different mind. After some four years of investigation and litigation, the only error (“inadvertent,” of course) that they acknowledge is the tripling of the size of the Trump Tower Penthouse, which cannot be gainsaid. Their complete lack of contrition and remorse borders on pathological. They are accused only of inflating asset values to make more money. The documents prove this over and over again. This is a venial sin, not a mortal sin. Defendants did not commit murder or arson. They did not rob a bank at gunpoint. Donald Trump is not Bernard Madoff. Yet, defendants are incapable of admitting the error of their ways. Instead, they adopt a “See no evil, hear no evil, speak no evil” posture that the evidence belies." And calling it "this is not the defendent's first rodeo"- "In considering the need for ongoing injunctive relief, this court is mindful that this action is not the first time the Trump Organization or its related entities has been found to have engaged in corporate malfeasance. Of course, the more evidence there is of defendants’ ongoing propensity to engage in fraud, the more need there is for the court to impose stricter injunctive relief. This is not defendants’ first rodeo."     ...

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President Trump outlines a plan for Afghanistan that increases the U.S. troop presence from about 8500 with an addition of 4000 more troops and advisors, in addition to a counter terrorism force. To war weary public in the U.S. he says: "I share your frustration over a foreign policy that has spent too much time, energy, money- and most importantly, lives- trying to rebuild countries in our own image instead of pursuing our security interests above all other considerations." About his criticism of the war when president Obama was in office as a huge costly waste of resources Trump said: My original instinct was to pull out, and historically I like to follow my instincts... I heard that decisions are much different when you sit behind the desk at the Oval Office." After resisting the advice of his own advisers Trump decided to fire Bannon who had supported use of American private security contractors for the war in Afghanistan, and used parts of the media to question national security advisor McMaster's views on this. Gen. Mattis, completed a strategy review that showed the mistake of creating a vacuum would repeat the situation of Iraq where president Obama withdrew forces in 2011, leading to a sequence of negative events- with Russia, Iran and Islamic State moving into the vacuum, making American intervention in the war necessary, increase in terrorist incidents worldwide, and a flood of refugees into Europe. Ironically clearing the path for an outsider's bid for the White House, with Brexit in which refugee fears and uncontrolled immigration played a part, and the news of terrorism and the war in Syria-Iraq creating a sense of insecurity. A key difference in the Trump approach with Obama's approach is that "conditions on the ground, not arbitrary timetables will guide our actions from now on," in line with Trump's criticism of Obama's approach. The military in the U.S. has long maintained that the best approach would have been to insist on U.S. presence in negotiations with the Iraqi government under the sectarian prime minister Nouri Maliki. Gen. Mattis was head of Central Command under the Obama administration and must have pushed the view of the military to president Obama to no avail. Failure to do so led to the growth of Shiite militias and the alienation of Sunnis in Mosul, leading to the fall of Mosul to Islamic State thus creating the current crisis. Gen. Mattis and Lt. Gen McMaster are intimately aware of the problem and must have convinced Trump that this is what really happened, that a repeat would waste the sacrifices of American soldiers in the twin wars. Trump gave this as his reason when he said in his televised speech to the nation- essentially a criticism of Bush that he expanded the conflict too quickly, and Obama exiting too quickly to create a void. Trump call his policy "principled realism."  The roots of the crisis are in the India-Pakistan conflict. Like the conflict in South East Asia the conflict in South Asia extending from Iran to India and Pakistan, may take a generation to overcome. A rapprochement between India and Pakistan, beginning with trade and economic relations, is not only in America's interest, it also provides the basis for a realistic American withdrawal. ...

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Damian Paletta of the Washington Post says that credit goes to Gary Cohn a former Goldman Sachs president, and head of the president's National Economic Council for the way he has quietly built up a group of leading experts on major initiatives of the Trump administration such as tax reform, infrastructure plans. Compared to the infighting and other problems in the first 100 days of the Trump presidency, Cohn is credited with building a core of ideas and experts that bring Trump more to the centre and with the prospect of winning Democratic party support. He has helped shift the president to set up a more balanced approach, less confrontational with China and not calling China a currency manipulator, getting support for the Export Import Bank, and more receptive to the Federal Reserve led by Janet Yellen. This report says an alliance of moderates is centering around Adviser Jared Kushner, Cohn, and in other reports Tillerson in foreign affairs is seen as being part of this group. On NAFTA the president has moved to a less confrontational approach with Mexico, which has helped the Mexican peso recover and improved prospects for the Mexican economy.  On infrastructure new ideas to find financing are needed and a plan to tax carbon emissions is intended to draw Democratic support as well as provide some of the funding. About $200 billion in taxpayer money and $800 billion from private investors is being discussed at the National Economic Council. This report says Cohn suffered from dyslexia in childhood, graduated from American University, and joined Goldman Sachs in an unconventional way. He shares a passion for deal making with president Trump, yet at the same time values the views of experts he has brought to formulate concrete plans for the way ahead. About 25 experts with extensive experience in government helped put together new tax changes, infrastructure plans, and international trade deal plans. His predecessor at the NEC, Gene Sperling, gives him credit for quietly pulling together the experts and doing the planning that the Trump administration now depends on. ...

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President Biden introduces a new format for the US China discussions on international coordination for economic policies of the two nations. It puts the dialogue between the two presidents and the ministries under them with clear goals for the US and for the Chinese side their own goals. It replaces the US China Strategic Economic Dialogue setup by Treasury Secretary Paulsen (Goldman Sachs) under the younger Bush which Mr. Trump rejected and which was seen as a failure for both sides creating the very hypergrowth in China pushed by business interests on both sides that hurt both nations. 

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This WSJ Editorial Board article says Ron DeSantis has strong support in Florida with his 19 percentage point margin win in Florida. As a national candidate he is seen as conservative with a ban on 6 week abortion and cultural stands on a number of issues, and a sense that there is what it calls "cultural brawling." His position on Ukraine as simply "a territorial dispute" is questioned. This gives Mr. Trump an opportunity to show DeSantis is too conservative, says the WSJ. Mr. DeSantis 44 years, is praised for the way he handled the pandemic by opening up schools earlier than New York and other states, and opening up the economy. Yet he is seen as lacking a larger vision on how the country can build a stronger economy, and reduce social divisions, for American Renewal.  WSJ's views on Biden are that he leans too much towards Progressive Democrats. And on Trump that he is stuck with the idea of national retribution leading to 4 more years of trench warfare that it finds unacceptable. ...

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Mark Landler of NYT provides the background of the relationship with China and Taiwan during the Reagan administration. Reagan criticized the decision to abrogate recognition of Taiwan as a candidate and in 1982 pushed for Six Assurances, one of which was the assertion that the U.S. did not formally recognize Chinese sovereignty over Taiwan. Mr. Trump told a news channel that he doesn't see why the U.S. is bound by a One China policy, and that this would have to be part of a deal that included trade, and solving problems related to North Korea, and the South China Sea island fortifications. 

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Every day lost in the struggle with coronavirus is a big thing, which is why Itay's most affluent northern region has gone from being well equipped with resources of healthcare to seeing the health system overburdened to the point of disaster. This WSJ report shows why this has a lesson and an early warning for how the U.S. and other countries should design their response. It is also why the White House team that includes President Trump in the U.S. emphasized the plan for just the first 15 Days in the news conference at the Brady Room in the White House on March 16. It is saying the first 15 days are critical, not a day to lose.  It does not matter if you are an advanced economy with state of the art hospitals. Social behaviours must change, old rules rewritten and implemented throughout nations, quickly in days. Here WSJ shows lessons learned by Dr. Cereda at the Hospital of the University of Pennsylvania who trained in Milan and was in constant contact with colleagues in Milan and elsewhere. Many of the lessons relate to not overburdening hospitals and health systems and protecting health systems. This means mild to moderate cases are managed from home and not in the hospital, through massive deployment of outreach services and telemedicine. It means therapies can be delivered at home or through mobile clinics. The second major lesson from Italy is to protect healthcare workers and doctors. The entire White House team with Dr Faucci of CDC and Dr Brx, head of Infectious Diseases in the U.S. news conference of president Trump March 16, focused on the goal of protecting healthcare workers, doctors and hospitals, so they remained strong to take on the crisis. The second goal of the White House team is to protect the elderly with medical conditions. To do this only the most serious patients are treated in hospitals the rest for mild to moderate at home.  Studying the conditions in Bergamo and other parts of Lombardy and northern Italy, is helping U.S. medical leaders to prepare for the current nationwide effort, the 15 days plan announced by the White House. The lessons from the Papa Giovanni Hospital in Bergamo are important say U.S. medical leaders, including Dr. Brendan Carr, head of emergency medicine at Mount Sinai Health System in New York.  He says build capacity in hospital beds before we need it. Clear out hospital space and add new hospital beds.  ...

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This article in the New York Times makes an extraordinary report about Rod Rosenstein, U.S. Deputy Attorney General and his views on president Trump following Trump's firing of FBI Director Comey. New York Times says it has based its report on meetings in which Rosenstein participated with Justice Department and FBI officials. Mr. Rosenstein and Mr. Sessions, the Attorney General, attended a meeting at the White House last year with Mr. Trump in which he agreed to write the memo cited by Mr. Trump for firing Mr. Comey. Rod Rosenstein had no idea at the time that Mr. Trump would cite his memo, and felt afterwards that he had been used by Mr. Trump, according to this report in the NYT. Leading Democrats were very critical of Mr. Rosenstein for providing the memo that served as the basis for firing Mr. Comey. Mr. McCabe who succeeded Mr. Comey and others also left the Justice Department and the FBI, and the events of that time has created dissension in the FBI and the Justice Department, leading to the release of this information to the New York Times.  Mr. Rosenstein according to this report based on internal meetings with Justice Department officials, was concerned about the chaotic situation in the White House following the firing of Mr. Comey of the FBI. During this time it is reported here Mr. Rosenstein suggested recording of the president and invoking of the 25th Amendment. The 25th Amendment of the U.S. Constitution provides for removal of the President by the Vice President and cabinet officials on certain grounds such as when the president "is unable to discharge the powers and duties of his office." Mr. Andrew McCabe, who was head of FBI following Mr. Comey's firing was also fired, and he has memorialized his interactions with Mr. Rosenstein in memos that are now with the Mueller investigation.  Not everyone thinks this is a constructive step as a letter in the New York Times questions the wisdom of such a report leading to the departure of Mr. Rosenstein. Mr. Rosenstein is seen by some as defending the Mueller investigation into Russian interference in the U.S. presidential election. But even this may be overstated or in doubt as the criticism of Democrats leading to the the release of the report by the NYT on Rosenstein shows. Mr. Rosenstein says in response to the NYT report that he sees no need for invoking the 25th Amendment. ...

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Kirill Dmitriev who has a BA from Stanford and MBA from Harvard was educated in the US and worked for McKinsey and Goldman Sachs. He worked for the US-Russia Investment Fund funded by USAID during the early years in 1990's after fall of Soviet Union. And helped sell off media properties bought at that time for that Fund to the new government. He is now the head of the Russian Sovereign Fund.

He will be a key negotiator to be similar to Witkoff in the Trump team who has a background in real estate deals. 

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Experts say about 110,000 votes separate Hillary Clinton and Donald Trump in the three states of Michigan, Wisconsin and Pennsylvania that decided the 2016 presidential election in the U.S. giving Trump the win. Post election reflection in the Democratic party points to a disconnect between the establishment in both parties and the white working class. It is described as something that was not thought enough about even though as pointed out in Lyrarc, and in The Washington Post by columnists, and in news coverage about the inequality movement long before Bernie Sanders appeared in 2015. In the period when banks were favored over millions of homeowners facing foreclosure in 2010-2014, the surging stock market and the zero to to half percent interest on savings that hurt savings of most of the working class and lower middle class without stock investments, and the continuing problems in communities facing job losses from trade for the third decade. The hollowing out of the regions in Ontario from job losses from the Canadian industry helped Justin Trudeau win the Canadian election. In this election it helped Trump in crucial midwestern states, combined with a degree of indifference shown by establishment Democrats. Former Vermont governor Howard Dean is planning to run for chairman of the Democratic National Committee. Bernie Sanders says he backs Minnesota Rep. Keith Ellison to be the next chair of the DNC. Jeff Weaver, campaign manager for Sanders, says the problem lies in what has been clear for some time now "that the centrist wing of the democratic party has no standing with working class and middle class  voters in this country." In 2016 only 51% of union households supported Clinton the lowest since 1980, 43% supported Trump. Obama won 59% of union households in 2008 and 58% in 2012 to 40% for Republican Romney. Trump picked up 3% of union households, Clinton lost 7% of union households, creating about a 10 point gap that would be magnified in industrial states where union jobs are concentrated, for about 18% of the people who voted in the election, enough to create the shortfall in Michigan, Wisconsin and Pennsyslvania. Fed chairman Janet Yellen pointed out the problems at an Inequality conference in Boston in 2014, pretty stark in its reminder that inequality had surged to levels not seen since the depression of the thirties, with 62 million households having a net worth of $11,000. Krugman and other economists had pointed this out on the pages of the NYT. Yet the post election reflection in the media is as if this is some special insight when it was clear for all to see, and covered in depth in Lyrarc for years since 2008. There is voter fatigue after 8 years of one party in power as pointed out by Obama campaign strategist, David Axelrod. The loss of union enthusiasm made the task of  a third term for the Democratic party even more difficult.     ...

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The Trump administration is looking at proposal to stop deliveries of new jet engines from the U.S. by General Electric Company for a new airliner being developed in China. There is concern that China may reverse engineer the CFM engines if sent to China for the Comac C919 jetliner. The administration may decide to not issue the license letting CFM International a joint venture of GE and France's Safran SA, to export the LEAP 1C jet engines to China.

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Last month the Nevada probate commissioner said Rupert Murdoch could amend his irrevocable trust if he is acting in good faith and in the interests of his 4 children. A trial to determine if this is in good faith begins in September 2024. The current trust for Murdoch and his news properties is an irrevocable trust set up 24 years back in Reno, Nevada. It gives one vote each to Lachlan, James, Elisabeth and Prudence after Rupert Murdoch's death. He is 93 years. Lachlan and Rupert Murdoch have views that have led to Fox News and Wall Street Journal news coverage that is seen as extreme. James ran the News operations with Lachlan till he could no longer support the shift, a shift consistent with his father's views. William Barr, an Attorney General for Bush and Trump is a legal adviser to Rupert Murdoch in the effort to give voting rights to Lachlan, so he has a majority. James says he is uncomfortable with the shift at the networks and that it would hurt them in the long run that the gains in ratings are short term and have led to releasing insidious forces in the US. James's wife Kathryn is a climate change activist. The siblings say the original trust had "an equal governance provision" and want a voice. They also say the move to give Lachlan majority voting rights disenfrachises them. The courts in Nevada will take up this case with the siblings working together in opposition to Rupert Murdoch and Lachlan. ...

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Two men, Tommy D'Alessandro, U.S. Congressman from Maryland and Mayor of Baltimore, from Italian stock, and Fred Trump a builder in Brooklyn and Queens  from German stock, bring different visions of the future. One looking out for immigrant families mostly from Europe at the time, and the other a builder who benefitted from government money used for housing under president Roosevelt's New Deal. Today their struggles are seen in the next generation, with Alessandro's daughter Nancy Pelosi as Speaker of the House, and Fred Trump's son Donald Trump in the White House. Maureen Dowd writes in her inimitable style about the U.S. president views being shaped by his wealthy upbringing, and Pelosi's views shaped living with Italian families and immigrants in the post wartime years after 1945, with the trauma suffered in the war.

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In an earlier interview with the Sun newspaper, Mr. Trump said he disagreed with Theresa May's approach to Brexit and called it "turmoil" that Boris Johnson had resigned as Foreign Secretary. He went on to say that Boris Johnson would make a great prime minister, that May's handling could "kill" a trade deal with the U.S. At the meetings and press conference Trump reversed this and called it "fake news" as it did not tell the whole story and his positive comments. Trump said at the joint press conference with May that he was open to a trade deal and that how May handled Brexit was upto the prime minister- "Whatever you do is OK with me."

Protests took place in London for Trump's visit including a Blimp over London during the rally.

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Responding to criticism of the Clinton Foundation which has affected Hillary Clinton's ability to win voter support in her contest with Bernie Sanders, the Clinton family has decided to take action in August 2016. The Clinton Global Initiative will be discontinued in 2017. Bill Clinton and Chelsea Clinton will stop raising funds for the Clinton foundation. The Clinton Foundation will not accept funds from foreign donors. What started as a do-good effort to raise funds for worthy causes such as world health, poverty and hunger turned out -because of its very success in raising large amounts of money from corporate donors- into a distraction for the election campaign of Hillary Clinton in 2016. It opened up Hillary Clinton to charges of having conflicts of interest from outsiders Sanders and Trump. Hillary Clinton discontinued her association as a board member of the foundation in 2015 when she began her campaign. Bill Clinton continued to give paid speeches and raised $2.6 million. All that fund raising appears to have been a big mistake and not even fair to the candidate, as it gave rise to misperceptions about the candidate going far beyond what the Clintons ever understood about was happening. As former Labor Secretary Robert Reich put it, it gives rise to accusations of impropriety that may affect an election, without the voters getting a chance to evaluate the candidates on the basis of what each candidates program or agenda is. In this the Clinton family may have realized that in retrospect the entire foundation activity appears to be a small matter, when put next to the choices facing the U.S. and the world in 2016 for the next decade and beyond. The Clinton Foundation in future would be managed by people independent of the Clinton family and circle. The next step would be setting it up as a public foundation, a new board and professional staff. Was it all worth the problems it has created for voters being able to get a clear idea of what each candidate offered, an not acting as a huge and dangerous distraction which Hillary Clinton and the country and the world could do without, considering the significance of making good choices in a general election- very much so. The foundation and the fund raising made it possible for outsiders Sanders and Trump to turn this election into one of slogans and accusations, to which the Clintons were unprepared to respond, acting as a distraction  which was bad for the country and the world. ...

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Greg Ip looks at the Chinese economy its strengths and and many weaknesses including debt and declining foreign investment in 2023, as president Xi visits the US this coming week. With a slowing economy, high youth unemployment and excessive debt, China remains a resilient economy because it has strengths in manufacturing. It would take the US the next decade to build up its manufacturing capabilities after neglecting this important field with mistaken policies for three decades under presidents Reagan, Bush, Clinton, Obama and Trump. President Biden is taking steps for this new manufacturing revival to take place.

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A CNN story on Senate investigators looking into a meeting between Anthony Scaramucci, a member of Trump's transition team, and an executive of a Russian investment fund, is retracted. Three CNN employees resigned, including Harris its investigations editor, as the story could not be reliably verified. The errors in reporting are a result of intense pressure to come up with new breaking news stories, as CNN competes with other news providers such as the Washington Post and the New York Times. Paul Farhi cites other errors at CNN. CNN.com shows the work of the CNN investigative team of about 30 thirty journalists. It has come up with other stories on Russia and the U.S. election of 2016 which have been verified. Farhi points out that the stories have led to record ratings and profits for CNN. On of the journalists who resigned was Eric Lichtblau, a veteran reporter who worked earlier for the New York Times.

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 U.S. Trade Representative Robert Lighthizer, views China's response in trade negotiations as one of conducting extended negotiations that lead to little change. This has continued says Lighthizer for over a decade putting the U.S. at a serious disadvantage in trade. At a White House meeting in August 2017 Lighthizer convinced president Trump that China was in his words "tap, tap, tapping us along."  This confirmed president Trump's own instincts about the U.S. trading relationship with China. Lighthizer is a veteran of trade negotiations, having experience in the Reagan administration as the Deputy Trade Representative in 1983 in negotiations with Japan, when Japan was in a similar situation that China is today. At the time trade negotiations with Japan were getting nowhere. Lighthizer is said to have turned one Japanese response in negotiations into a paper plane and sent it flying right back. Lighthizer does not seek the limelight but is serious about his role having published op-eds in the NYT and WSJ since 2000 about how U.S. trading relationships were putting the U.S. and U.S. workers at an unfair advantage. Many of these op-eds are in the Lyrarc archive and a Search with the term "Lighthizer" would bring up these articles. This report in NYT shows how the role of Lighthizer was not anticipated by China when it sent Liu He to Washington in November 2017 to negotiate with the U.S. President Trump made certain Liu He and other Chinese leaders would have to talk to Lighthizer first. In a session with president Jinping laid out U.S. views that the past negotiations had accomplished little and new negotiations had to be undertaken very differently from negotiations in the past. Earlier in July trade negotiations conducted by Commerce Secretary Wilbur Ross were "shut down" by president Trump because China continued to repackage earleir offers which meant little to the U.S. As a lawyer at Skadden, Arps, Slate, Meagher LLP Lighhizer represented steel industry clients hurt by subsidized Chinese steel industry imports. Mr. Trump and Lighhizer have bonded well because their instincts have been the same- that the U.S. had not been well represented in earlier negotiations by lawyers who saw themselves as speaking for American exporters.  Lighthizer is also a seasoned trade negotiator and has waited for the right time and situation to tackle the unbalanced trading relationship with China. For 30 years Lighhizer represented American manufacturers as he practiced trade law at the Skadden law firm. His strategy has been to get the administration to unite behind a clear trade strategy. He says "I try to be friendly in trade negotiations. I am not the theatrical type. The art of persuasion is about knowing where the leverage is." At this time the leverage lies in the huge trade surplus of about $300 billion China has with the U.S. The U.S. goal is to bring this down by $100 billion through this new negotiating strategy as earlier negotiations have failed. ...

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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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New sanctions are placed on Iran by the Trump administration and the Treasury Department including on financial networks in Iran. The head of Iran's central bank is also listed in sanctions for funneling money to various groups.

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Latest data from the U.S. Treasury shows it has collected $63 billion in tariffs over the preceding 12 months. Even though there is no agreement on trade with China, president Trump says the U.S. is benefitting from higher tariffs by tens of billions of dollars. In May he estimated tariff revenues could reach $100 billion.This report in the WSJ says this could happen if the the new tariffs of 10% on additional $300 Chinese goods imported to U.S. goes into effect on September 1. This is likely considering that China sees this in different terms than the U.S. such as its sovereignty, whereas the U.S. sees it simply in terms of fair trade. With new elections China may be simply putting things off till the election is decided as Mr. Trump has pointed out. The tally of what the U.S. Treasury gets annually if $100 billion is generated in tariffs goes something like this. Of this $30 billion was generated previously for the U.S. government, so the incremental amount is $70 billion. Of this about $16 billion goes to offset the effect of loss of farm exports to farmers, mainly soyabeans exports to China, through a rescue fund. This leaves additional $54 billion for the U.S. Treasury. Money that could conceivably be put back into infrastructure that the U.S. badly needs in mobile and fixed to improve internet speeds and move up from its low rankings compared to China and other countries. A WSJ report this week shows Germany in worse shape than the U.S., both countries having dismal status in mobile infrastructure- the U.S. at No. 37, and Australia No. 4, Canada No. 3, and even Croatia No. 9. This throws some light on why this trade dispute has become intractable, for China the right of a sovereign nation to move past middle income status even as its telecom technology with Huawei 5G is top class, and for the U.S. the right not to fall behind in advanced technologies such as Telecom. It is also why one hears so much about Huawei and why it has become a flashpoint of the conflict in trade and trade practices. It is thought Mr. Trump is conducting this trade dispute. Yet less known is the fact that prominent Republicans in Congress such as Senator Warner have stated on television talk shows that they are concerned Mr. Trump may give up too much in negotiations that lead to the U.S. not being able to compete in telecom advanced technologies that matter for competitiveness and for national security. What was treated by Bush and Obama administrations routinely without much attention to the consequences is now a top concern for Republicans and others in Congress and business. ...

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When even the NYT, or the host of CBS television Face the Nation does it poorly, how are independent voters, and voters leaning Democrat or Republican, or leaning not vote, to have a clear idea of policies?  This review of Trump statements about Harris statements on red meat, ICE, law enforcement, fails to get down to the policies she has stated at Wake Tech in North Carolina and in other places before this. It also does not address the Trump plan to end tax on Social Security which would lead to about $550 going to seniors but lead to a cut of 25% in Social Security in 2032, defunding Social Security and Medicare. Immigration- the first thing Harris would do as president is to sign the legislation written by Republicans Lankford, McConnell with the backing of the party and agreed to by president Biden that will in effect close the Border with Mexico and fix the asylum policy, not done in three decades. Cost of Living- Harris policy on price gouging is for taking the action that companies follow and play by the rule on pricing, so that they do not take unfair advantage of the public. It is not about passing a law or fixing prices. This has been done in Texas and in Kentucky, other states. Restrict rent to 5% increases and increase the supply of new houses by building 3 million new homes, $100 billion to be allocated for fixing housing supply shortages.   ...

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Under Project 2025, a blueprint for the first 100 days of a Trump second term-A middle class family with 100,000 in income a year and two children would pay extra $2600 additional federal income tax, whereas it gives a $325,000 tax cut for a married couple with 2 children making more than $5 million a year in income. On project 2025, the blueprint for the first 100 days in office of a Trump second term, the action items are ones that would jeopardize the safety of American institutions that were set up with so much care by Thomas Jefferson, John Adams, and nurtured by the first president George Washington with little attention to himself, and protected by president after president through civil war under Abraham Lincoln, through 2 World Wars and The Great Depression under Woodrow Wilson and Franklin Roosevelt, through recovery under Harry Truman and Ike, only to falter under a series of mediocre presidents Reagan, Clinton, Bush, Obama and be endangered by a NBC television show and construction business person with support from new social media networks that were unknown throughout America history till 2010 and television networks that had degenerated into recklessly divisive behaviours to win silo audiences.    ...

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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.   ...