George Soros offers rare praise for Trump and how he’s handled Huawei in the trade war

Billionaire liberal financier George Soros offered some rare praise of Donald Trump’s policies in a Wall Street Journal op-ed Tuesday, but said he’s worried the president will undermine his own strategy. Soros called Trump’s policy on China, “coherent and genuinely bipartisan” as well as “the greatest — and perhaps only — foreign policy accomplishment of the Trump administration.” Specifically, Soros said the Trump administration was right to put Huawei on the Commerce Department’s “entity list”


Billionaire liberal financier George Soros offered some rare praise of Donald Trump’s policies in a Wall Street Journal op-ed Tuesday, but said he’s worried the president will undermine his own strategy. Soros called Trump’s policy on China, “coherent and genuinely bipartisan” as well as “the greatest — and perhaps only — foreign policy accomplishment of the Trump administration.” Specifically, Soros said the Trump administration was right to put Huawei on the Commerce Department’s “entity list”
George Soros offers rare praise for Trump and how he’s handled Huawei in the trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: lauren feiner
Keywords: news, cnbc, companies, trumps, huawei, policy, rare, list, trade, offers, oped, entity, china, hes, war, soros, handled, seriously, praise, trump


George Soros offers rare praise for Trump and how he's handled Huawei in the trade war

Billionaire liberal financier George Soros offered some rare praise of Donald Trump’s policies in a Wall Street Journal op-ed Tuesday, but said he’s worried the president will undermine his own strategy.

Soros called Trump’s policy on China, “coherent and genuinely bipartisan” as well as “the greatest — and perhaps only — foreign policy accomplishment of the Trump administration.”

Specifically, Soros said the Trump administration was right to put Huawei on the Commerce Department’s “entity list” as a national security threat, which prevents U.S. companies from engaging in business with the firm.

In the op-ed, Soros called China “a dangerous rival in artificial intelligence and machine learning” but said its ability to compete in the 5G market is seriously hampered by Huawei’s dependence on U.S. companies.

“As long as Huawei remains on the entity list, it will lack crucial technology and be seriously weakened,” Soros wrote.


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: lauren feiner
Keywords: news, cnbc, companies, trumps, huawei, policy, rare, list, trade, offers, oped, entity, china, hes, war, soros, handled, seriously, praise, trump


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Senate Democrats will force another vote to end Trump’s border emergency declaration

Senate Democrats will force another vote to block President Donald Trump’s national emergency declaration as the White House faces backlash for funneling military money toward the president’s border wall. “The recourse for such a brazen power grab should be an overwhelming bipartisan vote in the Congress to terminate the emergency declaration and reassert our constitutional authority,” the New York Democrat said. The chamber already voted to block the emergency declaration over migration at the


Senate Democrats will force another vote to block President Donald Trump’s national emergency declaration as the White House faces backlash for funneling military money toward the president’s border wall. “The recourse for such a brazen power grab should be an overwhelming bipartisan vote in the Congress to terminate the emergency declaration and reassert our constitutional authority,” the New York Democrat said. The chamber already voted to block the emergency declaration over migration at the
Senate Democrats will force another vote to end Trump’s border emergency declaration Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: jacob pramuk
Keywords: news, cnbc, companies, senate, presidents, vote, force, declaration, schumer, democrats, end, money, block, trump, border, emergency, trumps


Senate Democrats will force another vote to end Trump's border emergency declaration

Senate Democrats will force another vote to block President Donald Trump’s national emergency declaration as the White House faces backlash for funneling military money toward the president’s border wall.

Senate Minority Leader Chuck Schumer announced the move Tuesday as he called Trump’s action “an outrageous power grab by a president who refuses to accept the constitutional separation of powers.” In remarks on the Senate floor, he said he expects a vote within the next month.

“The recourse for such a brazen power grab should be an overwhelming bipartisan vote in the Congress to terminate the emergency declaration and reassert our constitutional authority,” the New York Democrat said. “Most of my colleagues know this is wrong.”

The chamber already voted to block the emergency declaration over migration at the southern U.S. border in March, about a month after Trump declared it. But the Senate failed to garner enough support to overcome the president’s veto.

Congress has the authority to try to end the president’s move once every six months. Under the national emergency provision, Schumer does not need Senate Majority Leader Mitch McConnell’s clearance to try to block the declaration.

The declaration gave Trump the authority to redirect money from military construction projects. Last week, the administration announced the projects from which it would pull $3.6 billion — including several in states where GOP senators face tough reelection bids.

Democrats slammed Trump for the move. Some Republicans such as Sens. Mike Lee and Mitt Romney of Utah also criticized the president.

A vote shortly after the Trump administration announced the states from which it will draw money could put more political pressure on some senators who did not oppose the declaration in March.

In March, the Senate voted by a 59-41 margin to block the emergency declaration. Twelve Republicans supported the move.

It is unclear if the chamber could now muster the two-thirds majority vote needed to overcome a presidential veto. Schumer said Tuesday that “we need some more people to join us” to overturn the declaration.

Trump repeatedly said he would force Mexico to pay for the barrier on the southern border, a key campaign promise. But America’s neighbor never promised money for the project, and Trump could not get Congress to approve his desired funds either.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: jacob pramuk
Keywords: news, cnbc, companies, senate, presidents, vote, force, declaration, schumer, democrats, end, money, block, trump, border, emergency, trumps


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Former Fed Vice Chair Kohn backs rate cut, rejects Dudley suggestion to foil Trump

In a CNBC interview, Kohn indicated he believes the Fed will follow market expectations and lower its benchmark overnight lending rate by 25 basis points at its Sept. 17-18 meeting. The economy is fine, it’s growing around 2%, has been growing around 2% for the last year. Market expectations are for another cut in either October or December, followed by an additional easing in early 2020. “I’m much less certain than the market seems to be that we need a whole bunch of decreases here,” he said. D


In a CNBC interview, Kohn indicated he believes the Fed will follow market expectations and lower its benchmark overnight lending rate by 25 basis points at its Sept. 17-18 meeting. The economy is fine, it’s growing around 2%, has been growing around 2% for the last year. Market expectations are for another cut in either October or December, followed by an additional easing in early 2020. “I’m much less certain than the market seems to be that we need a whole bunch of decreases here,” he said. D
Former Fed Vice Chair Kohn backs rate cut, rejects Dudley suggestion to foil Trump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: jeff cox
Keywords: news, cnbc, companies, trump, suggestion, kohn, fed, vice, dudley, rates, rejects, cut, rate, foil, trumps, market, thing, think


Former Fed Vice Chair Kohn backs rate cut, rejects Dudley suggestion to foil Trump

The Federal Reserve should cut interest rates next week and not listen to a suggestion that it consider keeping rates level to harm President Donald Trump’s re-election chances, former central bank Vice Chairman Donald Kohn said Tuesday.

In a CNBC interview, Kohn indicated he believes the Fed will follow market expectations and lower its benchmark overnight lending rate by 25 basis points at its Sept. 17-18 meeting.

“I think they have ample reason to do that. The economy is fine, it’s growing around 2%, has been growing around 2% for the last year. The unemployment rate is low,” he said on “Closing Bell.” “But there are downside risks there from the trade war and the global slowdown, and inflation is running a bit below their target.”

However, he said he’s not sure how far the policymaking Federal Open Market Committee should go beyond that.

Market expectations are for another cut in either October or December, followed by an additional easing in early 2020. The FOMC already has cut once this year, a 25 basis point reduction that was the first since 2008 after having raised the funds rate nine times since December 2015. The funds rate is currently targeted between 2% and 2.25%.

“So I think buying a bit more insurance is the right thing to do at this meeting. What I’m not so sure about is where they will be going after that,” he said.

“I’m much less certain than the market seems to be that we need a whole bunch of decreases here,” he said.

He did express certainty against a suggestion from former New York Fed President Bill Dudley, who argued in a Bloomberg Opinion piece that the FOMC should push back against Trump’s intense criticism of the Fed by not lowering rates. Doing so, Dudley wrote, might hamper Trump’s re-election which he called “a threat to the U.S. and global economy.”

“I thought it was wrong and harmful,” Kohn said of Dudley’s commentary. “The Fed needs to keep away from politics. They need to apply the best economic analysis possible to achieve legislative mandates.”

He said writing the piece was “a very dangerous thing to do.”

CNBC has reached out to Dudley for comment.


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: jeff cox
Keywords: news, cnbc, companies, trump, suggestion, kohn, fed, vice, dudley, rates, rejects, cut, rate, foil, trumps, market, thing, think


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

JP Morgan has created an index to track the effect of Trump’s tweets on financial markets: ‘Volfefe index’

In fact, the president’s market-moving tweets ballooned in August as he hammered China on trade and went after the Federal Reserve on interest rates. In an attempt to quantify the impact of Trump’s tweets on the bond market, J.P. Morgan devised a “Volfefe Index” to analyze how the president’s tweets are influencing volatility in U.S. interest rates. J.P. Morgan found that the index, named after Trump’s infamous and still mysterious “covfefe” tweet, explains a measurable fraction of the moves in


In fact, the president’s market-moving tweets ballooned in August as he hammered China on trade and went after the Federal Reserve on interest rates. In an attempt to quantify the impact of Trump’s tweets on the bond market, J.P. Morgan devised a “Volfefe Index” to analyze how the president’s tweets are influencing volatility in U.S. interest rates. J.P. Morgan found that the index, named after Trump’s infamous and still mysterious “covfefe” tweet, explains a measurable fraction of the moves in
JP Morgan has created an index to track the effect of Trump’s tweets on financial markets: ‘Volfefe index’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-08  Authors: emma newburger
Keywords: news, cnbc, companies, index, tweets, volfefe, effect, morgan, volatility, reserve, marketmoving, trade, trump, trumps, financial, presidents, markets, track


JP Morgan has created an index to track the effect of Trump's tweets on financial markets: 'Volfefe index'

President Donald Trump speaks as he receives a status report on Hurricane Dorian in the Oval Office of the White House in Washington, September 4, 2019.

Donald Trump is tweeting more and it’s affecting the bond market.

In fact, the president’s market-moving tweets ballooned in August as he hammered China on trade and went after the Federal Reserve on interest rates.

In an attempt to quantify the impact of Trump’s tweets on the bond market, J.P. Morgan devised a “Volfefe Index” to analyze how the president’s tweets are influencing volatility in U.S. interest rates.

J.P. Morgan found that the index, named after Trump’s infamous and still mysterious “covfefe” tweet, explains a measurable fraction of the moves in implied rate volatility for 2-year and 5-year Treasurys.

“This makes rough sense as much of the president’s tweets have been focused on the Federal Reserve, and as trade tensions are broadly seen as, first and foremost, impactful on near-term economic performance and, likewise, the Fed’s reaction to such developments,” wrote the authors of the J.P. Morgan report.

Trump’s market-moving messages most often address trade and monetary policy, with key words including “China,” “billion” and “products.” These tweets are increasingly less likely to receive favorable responses, such as likes or retweets, from the president’s followers.


Company: cnbc, Activity: cnbc, Date: 2019-09-08  Authors: emma newburger
Keywords: news, cnbc, companies, index, tweets, volfefe, effect, morgan, volatility, reserve, marketmoving, trade, trump, trumps, financial, presidents, markets, track


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump’s recession toolkit could include tax cuts and infrastructure spending – if Congress allows it

Congress passed the income tax cuts in the Tax Reduction Act in March 1975, although Democrats forced the president into agreeing to an expansion of select government programs. Those piecemeal tax cuts reduced the highest personal income tax rate from 70% to 38.5%, cut the lowest rate from 14% to 11% and increased the highest capital gains tax rate from 20% to 28%. Real GDP fell $650 billion, the unemployment rate peaked at 10% and household net worth fell $11.5 trillion. But in addition to larg


Congress passed the income tax cuts in the Tax Reduction Act in March 1975, although Democrats forced the president into agreeing to an expansion of select government programs. Those piecemeal tax cuts reduced the highest personal income tax rate from 70% to 38.5%, cut the lowest rate from 14% to 11% and increased the highest capital gains tax rate from 20% to 28%. Real GDP fell $650 billion, the unemployment rate peaked at 10% and household net worth fell $11.5 trillion. But in addition to larg
Trump’s recession toolkit could include tax cuts and infrastructure spending – if Congress allows it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-07  Authors: thomas franck
Keywords: news, cnbc, companies, congress, include, toolkit, recession, infrastructure, trump, spending, trumps, allows, tax, sheets, unemployment, president, income, rate, cuts, inflation, policy


Trump's recession toolkit could include tax cuts and infrastructure spending – if Congress allows it

President Donald Trump speaks at a fundraiser in Des Moines, Iowa, June 11, 2019. Kevin Lamarque | Reuters

Wall Street can’t stop talking about recession fears. The U.S. and China are locked in a trade standoff, corporate earnings growth expectations are at multiyear lows, and the shape of the yield curve has data-focused investors feeling queasy. Bank of America told its clients last month that it sees a 1-in-3 chance of a recession over the next 12 months. Any such downturn would pose a problem for President Donald Trump, who has made the otherwise strong economy his central argument for reelection next year. Unemployment rates are low and major market indexes have surged: The Dow Jones Industrial Average, for instance, is up more than 30% since Trump took office. But as signs of economic deceleration mount — and the effects of the Trump administration’s deregulatory agenda and the 2017 GOP tax cut law fade — the president may want to refer to the actions of prior administrations in the modern era as a guide to navigating a tougher economy.

The worst of times

There have been 11 official recessions and 13 presidents since the end of World War II, with each downturn presenting households and investors with a unique set of headaches. Here are some examples. 1973–75 The recessions of the 1970s tended to center around a systemic and protracted spike in inflation as well as an uptick in unemployment. The 1973 oil crisis, in which OPEC declared an oil embargo and sent crude prices soaring, helped trigger the 16-month contraction that started during President Richard Nixon’s second term. It bled into President Gerald Ford’s tenure, which began when Nixon resigned in disgrace in 1974 due to the Watergate scandal. Consumer price growth hit double digits, the unemployment rose peaked at 9%, and real GDP growth declined from a robust 10.3% in the first quarter of 1973 to -4.8% just two years later. Ford, who at first encouraged a tax increase to help quell inflation, was later forced to change his tune and call for a $16 billion rebate of personal and corporation income taxes to help jump-start the economy. Congress passed the income tax cuts in the Tax Reduction Act in March 1975, although Democrats forced the president into agreeing to an expansion of select government programs. Ford lost the 1976 presidential election to Democrat Jimmy Carter. 1981-82 The deep recession that occurred in President Ronald Reagan’s first term is thought to be the result of strict disinflationary policies adopted by then-Federal Reserve Chairman Paul Volcker. Inflation had more than doubled following the 1973 oil shock. It plagued the Carter administration, reaching a lofty 11.3% in 1979 and 13.5% in 1980. In order to break inflation, Volcker and other Fed officials hiked short-term interest rates to 20% by 1981, drawing historic levels of criticism for their impact on construction, farming and other industrial sectors. The robust recovery that followed, however, remains a source of debate among economists, with many giving credit to the stimulative impact of the Reagan-era tax cuts. Those piecemeal tax cuts reduced the highest personal income tax rate from 70% to 38.5%, cut the lowest rate from 14% to 11% and increased the highest capital gains tax rate from 20% to 28%.

The Great Recession of 2007–09 A more recent example of White House action during times of economic turmoil came about 10 years ago, when the subprime mortgage crisis fueled a broader collapse in the nation’s largest banks and dragged the globe into what many economists consider the worst economic downturn since the Great Depression of the 1930s. Real GDP fell $650 billion, the unemployment rate peaked at 10% and household net worth fell $11.5 trillion. A combination of legislation crafted under outgoing President George W. Bush and Barack Obama, who was elected in 2008, included massive stimulus initiatives such as the American Recovery and Reinvestment Act and the Troubled Asset Relief Program.

The toolkit

Advocacy for such bills is just an example of how few tools are available to the White House during economic duress, Nathan Sheets, chief economist at PGIM Fixed Income, said in an email. “Most of the options are broadly ‘fiscal policy,’ and result in larger government budget deficits, but there are lots of different flavors,” Sheets wrote. But relying on collaboration with Congress could prove tricky for Trump, especially with 23 Republicans in the GOP-controlled Senate and all of the House up for reelection in 2020. If Democrats win both chambers but fail to claim the White House, the likelihood of any major policy breakthroughs could prove a tougher goal. “During the financial crisis, the government provided incentives for investment and sought to support the housing market,” Sheets continued. “In addition, the government provided a major bailout for the auto sector, as well as the never-to-be-forgotten ‘Cash for Clunkers’ program. All of these are examples of activist fiscal policy at work.” The economist added that direct increased expenditure, such as a new infrastructure program, would also work to boost GDP. To be sure, the cause of, and remedy for, any individual recession are out of the hands of any single policymaker and more often a function of cyclical market trends. But in addition to large spending bills, presidents can push for temporary or permanent tax cuts, as Reagan did in the 1980s. “All of this is in addition increased spending on various ‘automatic stabilizers’ such as unemployment payments,” Sheets added. “During the financial crisis, an important part of discretionary fiscal policy was a decision to extend the duration of unemployment payments. I’d guess that this would be done again.”


Company: cnbc, Activity: cnbc, Date: 2019-09-07  Authors: thomas franck
Keywords: news, cnbc, companies, congress, include, toolkit, recession, infrastructure, trump, spending, trumps, allows, tax, sheets, unemployment, president, income, rate, cuts, inflation, policy


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump’s move to put $3.6 billion in military funding toward the border wall could hurt GOP senators

President Donald Trump’s move to divert $3.6 billion from military projects toward funding his border wall has added another obstacle for some of the Senate’s most endangered Republicans. The White House plans to pull smaller chunks of funding from states such as Arizona, Colorado and North Carolina. The administration will pull $30 million from Fort Huachuca in Arizona for the border wall. Her likely Democratic opponent next year, former astronaut Mark Kelly, said Wednesday that “Fort Huachuca


President Donald Trump’s move to divert $3.6 billion from military projects toward funding his border wall has added another obstacle for some of the Senate’s most endangered Republicans. The White House plans to pull smaller chunks of funding from states such as Arizona, Colorado and North Carolina. The administration will pull $30 million from Fort Huachuca in Arizona for the border wall. Her likely Democratic opponent next year, former astronaut Mark Kelly, said Wednesday that “Fort Huachuca
Trump’s move to put $3.6 billion in military funding toward the border wall could hurt GOP senators Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: jacob pramuk
Keywords: news, cnbc, companies, billion, democrats, border, senators, funding, trumps, gardner, hurt, wall, gop, military, mcsally, arizona, senate, colorado, administration


Trump's move to put $3.6 billion in military funding toward the border wall could hurt GOP senators

Construction workers are seen next to heavy machinery while working on a new border wall in Santa Teresa, New Mexico, as seen from the Mexican side of the border in San Jeronimo, on the outskirts of Ciudad Juarez, Mexico April 23, 2018.

President Donald Trump’s move to divert $3.6 billion from military projects toward funding his border wall has added another obstacle for some of the Senate’s most endangered Republicans.

The administration on Wednesday outlined the areas from which it would pull money for the barrier. It will draw the most from two U.S. territories: $403 million and $257 million from Puerto Rico and Guam, respectively. Among states, New York, New Mexico, Alaska, Virginia and Washington will lose the most funding.

The administration will draw money from construction of hangars, training facilities, arms ranges and schools for children on bases, among other projects.

The White House plans to pull smaller chunks of funding from states such as Arizona, Colorado and North Carolina. And that could affect the fight for the Senate in 2020. GOP Sens. Martha McSally of Arizona, Cory Gardner of Colorado and Thom Tillis of North Carolina, already facing competitive reelection bids, will have to defend their votes not to stop Trump from diverting military funds.

The president, unable to get Congress to approve money for his signature campaign promise, declared a national emergency earlier this year to secure funding. The Democratic-held House and GOP-controlled Senate both voted to block Trump’s move, but could not find enough support to overcome the president’s veto.

A dozen Senate Republicans — and only one in Maine’s Susan Collins who faces a competitive reelection — joined Democrats in opposing the emergency. McSally, Gardner and Tillis all backed the president’s declaration. So did Senate Majority Leader Mitch McConnell, R-Ky., and Sen. John Cornyn, R-Texas, two formidable 2020 candidates whose states will also lose millions from defense projects.

Election forecasters consider McSally and Gardner the most likely Republicans to lose their Senate seats next year as Democrats push to win the chamber. The GOP holds a 53-47 edge, meaning Democrats would have to flip three seats for a majority if they win the White House. They would have to gain four if Trump wins another term as the vice president can break a 50-50 tie.

The administration will pull $30 million from Fort Huachuca in Arizona for the border wall. In a statement Wednesday, McSally said that she “went to the mat to fight for Arizona projects” after Trump declared the emergency. She added that delays to the Arizona project made it more likely that the administration would divert money.

“We need to secure our border and protect our military; we can and should do both,” McSally said.

Her likely Democratic opponent next year, former astronaut Mark Kelly, said Wednesday that “Fort Huachuca and our national security are suffering the consequences” of Trump’s effort to build the border wall. He tweeted that McSally “told Arizonans she had protected funding for military bases.”

Before the general election, McSally will have to fend off a primary challenger in businessman Daniel McCarthy.

In Colorado, a project at Peterson Air Force Base lost $8 million that will go to the border wall — a small sum compared with what the administration pulled from several other states. Still, it put Gardner on defense.

In a statement Wednesday, Colorado Democratic Party Chair Morgan Carroll said, “Coloradans don’t need to look beyond [the national emergency] vote to see that [Gardner is] just a spineless yes-man for Trump.”

On Thursday, Gardner blamed Democrats for the Trump administration pulling money from Colorado. He argued the state only lost funds because the party’s lawmakers would not approve Trump’s desired wall money.

“It’s unfortunate Democrats can’t defend the border and defend the country at the same time. If they could, we would have a border that was secure and no need for other funding to secure the border,” Gardner said in a statement.


Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: jacob pramuk
Keywords: news, cnbc, companies, billion, democrats, border, senators, funding, trumps, gardner, hurt, wall, gop, military, mcsally, arizona, senate, colorado, administration


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Gary Cohn gave Mick Mulvaney golf course passes worth $2,500, months after he left the White House

After Gary Cohn left President Donald Trump’s administration early last year he quietly helped Mick Mulvaney, another top Trump aide, gain access to a couple of golf tournaments. Mulvaney was Cohn’s guest at two separate golf tournaments, according to Mulvaney’s financial disclosure report. Mulvaney is acting White House chief of staff; at that time he was only director of Trump’s Office of Budget and Management. Some estimates show Trump’s golf trips have cost taxpayers more than $100 million.


After Gary Cohn left President Donald Trump’s administration early last year he quietly helped Mick Mulvaney, another top Trump aide, gain access to a couple of golf tournaments. Mulvaney was Cohn’s guest at two separate golf tournaments, according to Mulvaney’s financial disclosure report. Mulvaney is acting White House chief of staff; at that time he was only director of Trump’s Office of Budget and Management. Some estimates show Trump’s golf trips have cost taxpayers more than $100 million.
Gary Cohn gave Mick Mulvaney golf course passes worth $2,500, months after he left the White House Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: brian schwartz
Keywords: news, cnbc, companies, cohns, passes, gave, house, trump, left, guest, mick, trumps, tournaments, office, president, cohn, golf, mulvaney, months, worth, white


Gary Cohn gave Mick Mulvaney golf course passes worth $2,500, months after he left the White House

Gary Cohn, then-chief economic advisor to the president (right) chats with Office of Management and Budget Director Mick Mulvaney in the Indian Treaty Room of the Eisenhower Executive Office Building on October 17, 2017 in Washington, DC.

After Gary Cohn left President Donald Trump’s administration early last year he quietly helped Mick Mulvaney, another top Trump aide, gain access to a couple of golf tournaments.

Cohn resigned as Trump’s top economic advisor in March 2018. Mulvaney was Cohn’s guest at two separate golf tournaments, according to Mulvaney’s financial disclosure report. The guest passes were valued at $2,500. Mulvaney is acting White House chief of staff; at that time he was only director of Trump’s Office of Budget and Management.

The newly released document, which was approved by the Office of Government Ethics last month, says that the tickets were considered gifts and described as “two golf member guest tournament entry fees.” The disclosure form notes the tournaments took place in June and October of 2018. In both instances, Mulvaney stayed at Cohn’s home in New York, according to people with direct knowledge of the matter. The filing shows that Mulvaney paid for his own travel.

The October golf game was for charity at The Gust Hamptons Invitational at the Atlantic Golf Club in Bridgehampton, New York, these people added. The tournament’s website says it took place Oct. 11 and 12. The event in June was a standard tournament involving Cohn, Mulvaney and other associates, but these sources would not say whether it took place at the same golf course. Cohn is a former president of Goldman Sachs.

Revelations about Mulvaney’s guest passes come as Trump himself regularly hits the links at his own resorts. Over Labor Day weekend, the president was spotted at the Trump National Golf Club in Virginia. Trump has golfed more than 200 times since his inauguration with most of those outings at his signature courses. Some estimates show Trump’s golf trips have cost taxpayers more than $100 million.

Mulvaney became interim White House chief of staff two months after the last recorded golf outing with Cohn. The two have remained close friends ever since Cohn’s resignation.

The New York Post reported in June that the pair were spotted at the Atlantic Golf Club, and that Mulvaney was Cohn’s guest. In 2016, Mulvaney was ranked as one of Washington, D.C.’s top 150 golfers, according to Golf Digest.

A spokesman for OMB referred questions about Mulvaney’s golf tournaments with Cohn to the White House, which did not return a request for comment. A spokeswoman for Cohn declined to comment.


Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: brian schwartz
Keywords: news, cnbc, companies, cohns, passes, gave, house, trump, left, guest, mick, trumps, tournaments, office, president, cohn, golf, mulvaney, months, worth, white


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The official in charge of Trump’s Middle East peace plan is leaving the White House

Jason Greenblatt, the official in charge of President Donald Trump’s Middle East peace plan, is departing the White House, Trump announced Thursday. “After almost 3 years in my Administration, Jason Greenblatt will be leaving to pursue work in the private sector. Greenblatt became the president’s special representative for international negotiations in 2017, and worked closely with White House senior advisor Jared Kushner, the president’s son-in-law. The peace plan that Greenblatt has overseen h


Jason Greenblatt, the official in charge of President Donald Trump’s Middle East peace plan, is departing the White House, Trump announced Thursday. “After almost 3 years in my Administration, Jason Greenblatt will be leaving to pursue work in the private sector. Greenblatt became the president’s special representative for international negotiations in 2017, and worked closely with White House senior advisor Jared Kushner, the president’s son-in-law. The peace plan that Greenblatt has overseen h
The official in charge of Trump’s Middle East peace plan is leaving the White House Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: tucker higgins
Keywords: news, cnbc, companies, presidents, greenblatt, president, peace, east, official, charge, middle, leaving, trump, kushner, released, plan, white, trumps, jason, house


The official in charge of Trump's Middle East peace plan is leaving the White House

Jason Greenblatt, the official in charge of President Donald Trump’s Middle East peace plan, is departing the White House, Trump announced Thursday.

“After almost 3 years in my Administration, Jason Greenblatt will be leaving to pursue work in the private sector. Jason has been a loyal and great friend and fantastic lawyer,” Trump wrote in a series of posts on Twitter.

“His dedication to Israel and to seeking peace between Israel and the Palestinians won’t be forgotten,” Trump wrote. “He will be missed. Thank you Jason!”

The departure of one of the few senior officials with responsibility for overseeing the president’s foreign policy ambitions in the Middle East raises questions about the progress of the plan, which has yet to be fully disclosed, to achieve an elusive Israeli-Palestinian peace agreement.

News of Greenblatt’s departure was earlier reported by NBC News and other outlets. In a statement, Greenblatt said he was “grateful to have been part of the team that drafted a realistic vision for peace, which has the potential to improve the lives of millions of Israelis, Palestinians and others in the region.”

Greenblatt became the president’s special representative for international negotiations in 2017, and worked closely with White House senior advisor Jared Kushner, the president’s son-in-law.

“Jason has done a tremendous job leading the efforts to develop an economic and political vision for a long sought after peace in the Middle East,” Kushner said in a statement. “His work has helped develop the relationships between Israel and its neighbors as he is trusted and respected by all of the leaders throughout the region.”

The peace plan that Greenblatt has overseen has yet to be fully unveiled. In June, the administration released the economic portion of the plan during a two-day conference in Bahrain. That effort was boycotted by Palestinian leadership with the support of most Palestinians.

The political aspect of the plan remains under wraps and has suffered from a number of delays. It is not expected to be released before the Sept. 17 Israeli election, which will determine whether Prime Minister Benjamin Netanyahu, a close ally of the president, remains in office.

An official told The New York Times on Thursday that the plan “will be released when appropriate.”

The president did not specify when Greenblatt will officially leave his post.

Before joining the Trump administration, Greenblatt was a private lawyer for the Trump Organization. Avi Berkowitz, a deputy assistant to the president and a Kushner ally, will take Greenblatt’s role, NBC News reported.


Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: tucker higgins
Keywords: news, cnbc, companies, presidents, greenblatt, president, peace, east, official, charge, middle, leaving, trump, kushner, released, plan, white, trumps, jason, house


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump may be able to order US firms out of China — but it will cost him politically, says business leader

U.S. President Donald Trump may have the power to order American companies in China to leave the world’s second largest economy, but it would cost him politically, said a business leader on Tuesday. The longer the trade negotiations are stalled, the longer that there is unpredictability. President Donald Trump (L) and China’s President Xi Jinping shake hands at a press conference following their meeting at the Great Hall of the People in Beijing. “The longer the trade negotiations are stalled, t


U.S. President Donald Trump may have the power to order American companies in China to leave the world’s second largest economy, but it would cost him politically, said a business leader on Tuesday. The longer the trade negotiations are stalled, the longer that there is unpredictability. President Donald Trump (L) and China’s President Xi Jinping shake hands at a press conference following their meeting at the Great Hall of the People in Beijing. “The longer the trade negotiations are stalled, t
Trump may be able to order US firms out of China — but it will cost him politically, says business leader Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: huileng tan
Keywords: news, cnbc, companies, stratford, chinese, china, firms, companies, trump, leader, cost, american, order, politically, able, trade, president, trumps, longer, business


Trump may be able to order US firms out of China — but it will cost him politically, says business leader

U.S. President Donald Trump may have the power to order American companies in China to leave the world’s second largest economy, but it would cost him politically, said a business leader on Tuesday. “The President could issue orders that would make it very difficult for American companies to continue to do business in China, but I think it’s not a legal question of whether he’s going to do that — it’s a political and economic question,” said Timothy Stratford, chairman of the American Chamber of Commerce in China. He was referring to Trump’s tweet on Aug. 23 ordering American companies to “immediately start looking for an alternative to China” and urging them to start making their products in the U.S. instead.

The longer the trade negotiations are stalled, the longer that there is unpredictability. Timothy Stratford chairman of the American Chamber of Commerce in China

The president later referred to the International Emergency Economic Powers Act (IEEPA) in a separate tweet, linking it to “Presidential powers” and China. Under the act, which was passed in 1977, the president can deal with “any unusual and extraordinary threat … to the national security, foreign policy, or economy of the United States.” However, Stratford said it would be an “extreme step” for the president to exercise that right. “I think that it would be a very radical step for him to take. I think there would be huge pushback across the board in the United States including from leaders of his own political party, and therefore it seems unlikely that he would go that far,” he said. “The U.S.-China economic relationship is very, very complicated. It affects a lot of companies and a lot of industries. Just to say ‘okay, let’s be done with it’ is…a very simplistic way to approach it,” he told CNBC’s “Squawk Box.”

President Donald Trump (L) and China’s President Xi Jinping shake hands at a press conference following their meeting at the Great Hall of the People in Beijing. Artyom Ivanov | TASS | Getty Images

Even without Trump ordering American firms out of China, companies are already moving out due to the long drawn trade war between the two countries, said Stratford, who is also managing partner at Covington & Burling, a law firm. “The longer the trade negotiations are stalled, the longer that there is unpredictability,” he said. In the latest escalation of the trade war, the U.S. on Sunday started imposing 15% tariffs on a variety of Chinese goods while China retaliated with new duties. On Monday, Beijing said it had lodged a complaint against the U.S. at the World Trade Organization over American import duties that affected $300 billion of Chinese exports. The lawsuit is the third that Beijing has brought to challenge Trump’s China-specific tariffs at the WTO. The international organization limits the tariffs each country is allowed to charge.

Figuring out Trump’s ‘real intentions’

One issue in the trade talks is Chinese confusion over the Trump administration’s “real intentions,” said Stratford. “If you’re not confident that you understand the long-term intentions of the other side, then you’re concerned about making commitments because you don’t know where that’s leading,” Stratford added.

Trying to figure out what the real U.S. intentions are in this case has been very difficult for the Chinese side. Timothy Stratford chairman of the American Chamber of Commerce in China


Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: huileng tan
Keywords: news, cnbc, companies, stratford, chinese, china, firms, companies, trump, leader, cost, american, order, politically, able, trade, president, trumps, longer, business


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Chinese people find Trump ‘perplexing and exhausting’ on trade war, says state-run TV host

The Chinese people think President Donald Trump’s comments on the trade war between the world’s two largest economies are “perplexing and exhausting,” a state-run television anchor said Tuesday. Her remarks came two days after Trump’s newest batch of tariffs on Chinese goods went into effect Sunday. Liu, however, said Trump’s latest tariffs are hurting the likelihood of in-person trade talks later this month. She insisted that China wants an end to the trade war and doesn’t want the situation to


The Chinese people think President Donald Trump’s comments on the trade war between the world’s two largest economies are “perplexing and exhausting,” a state-run television anchor said Tuesday. Her remarks came two days after Trump’s newest batch of tariffs on Chinese goods went into effect Sunday. Liu, however, said Trump’s latest tariffs are hurting the likelihood of in-person trade talks later this month. She insisted that China wants an end to the trade war and doesn’t want the situation to
Chinese people find Trump ‘perplexing and exhausting’ on trade war, says state-run TV host Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, host, cgtn, china, tariffs, trade, television, chinese, goods, duties, war, perplexing, latest, exhausting, trumps, trump, staterun


Chinese people find Trump 'perplexing and exhausting' on trade war, says state-run TV host

The Chinese people think President Donald Trump’s comments on the trade war between the world’s two largest economies are “perplexing and exhausting,” a state-run television anchor said Tuesday.

“After a couple of years of President Trump’s term, I think the Chinese people have found a way to understand him,” China Global Television Network anchor Liu Xin told CNBC’s Seema Mody in a “Squawk on the Street” interview. “We’re not going to follow what he says every day because that is going to be very perplexing and exhausting actually, to a certain degree.”

Instead, Liu said, the Chinese people are focused on Trump’s policies toward China. “We actually want to see what he does.”

Liu hosts an English-language program on CGTN, the international arm of Communist Party-controlled China Central Television. CGTN America has a newsroom in Washington and broadcasts to 30 million households across the country, according to The New York Times. CGTN is widely considered an unofficial mouthpiece of the Chinese government.

Her remarks came two days after Trump’s newest batch of tariffs on Chinese goods went into effect Sunday. The 15% levies on apparel, footwear, consumer electronics and toys represent the latest escalation in the U.S.-China trade dispute. Additional duties on products, such as smartphones and laptops, are set to go into place Dec. 15. Together, those two rounds would cover about $300 billion worth of Chinese imports.

Trump is also threatening to increase the tariff rate on Oct. 1 to 30% on roughly $250 billion of goods that are already subject to 25% duties.

Shortly before Liu’s appearance on CNBC, Trump tweeted that the U.S. is doing “very well” in its negotiations with China.

Liu, however, said Trump’s latest tariffs are hurting the likelihood of in-person trade talks later this month. “The United States will need to create the conditions that are conducive for the resumption of negotiations.”

“Trump’s decision to put additional tariffs … is not in the right direction for talks to resume very soon,” she added. She insisted that China wants an end to the trade war and doesn’t want the situation to get worse. But she said the Chinese government will continue to protect its interests.

In retaliation, the Chinese government pushed ahead Sunday with increased duties of 5% to 10% on a variety of major American goods exported to China, including soybeans and crude oil.

However, those tariffs account for only about a third of the more than 5,000 product lines listed in Beijing’s latest announcement. The majority of China duties against U.S. goods take effect Dec. 15, along with reinstatement of tariffs on U.S. autos and auto parts.


Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, host, cgtn, china, tariffs, trade, television, chinese, goods, duties, war, perplexing, latest, exhausting, trumps, trump, staterun


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post