Trade war enters new phase ...
The trade wars entered a new phase this week. The President was under fire from whistle blower leaks. Trump had offered favors to Ukraine in exchange for dishing the dirt on Joe Biden's son.
The Ukrainians were awaiting a decision on a multi million dollar aid package. Trump explained to President Volodymyr Zelensky the country could "improve it's image" if it concluded the investigation of certain corruption cases.
Notably to pursue the investigation of a certain Ukraine energy tycoon. Joe Biden's son was on the board of one of his companies. Giuliani, Trump's personal lawyer, met with an aide to the Ukrainian President to thrash out the details.
Asked if he had discussed Biden on his call with Zelensky in July, Trump told reporters, "It doesn't matter what I discussed, someone ought to look into Joe Biden". National security experts confirmed Trump's pressure on Ukraine was highly inappropriate. The Washington Post suggested Trump has done much to warrant impeachment but the Ukraine conversations are over the top, even for the President.
Trump needed a distraction and ramped up the rhetoric with China. "Obviously, China is a threat to the world, because they are building a military faster than anybody. I view China in may different ways, but right now I am thinking about trade. And you know trade equals military."
Last week trade tensions were easing, stock markets rallied. This week trade tensions increased and markets fell. Trump claimed to be in no rush to complete a deal before the election in 2020. The Chinese made note and packed up early, leaving for home.
A scheduled visit to the farmlands of Montana and Nebraska was abruptly cancelled. "We didn't even get to know what they wanted to discuss" said Scott Kulbeck, director of the Montana Farm Bureau.
Should we be worried? Trump insists he continues to have fond feelings for China's leader, Xi Jinping. "My relationship with President Xi is a very amazing one, a very good one," he said. "But right now we have a little spat"
Yep, a little spat which if left unchecked could push the world into recession. When Peter Navarro, Trump's adviser on trade and manufacturing, penned "Death by China" he failed to include the Chapter on mutually assured destruction, as a result of his policy response.
That's all for this week, have a great weekend. We will be back with more news and updates next week!
John
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