The trade agreement with China is on life support. The president pushed China too far when he banned Huawei for selling tech products in the United States. Huawei is not the only Chinese company Trump targeted. All Chinese tech companies are on Trump’s blacklist thanks to an executive order.
The Chinese hold more than $1 trillion in U.S. Treasury bonds, and they continue to sell those bonds at an alarming rate. If China dumps all the Treasury notes, Mr. Trump great economy will fall apart. But it’s unlikely the Chinese will sell the notes. According to Chinese news reports, the government will wait before they sign a deal with Trump. They know he has to make the first move. And according to China news reports, Trump’s first move has to be to lift the tariffs.
The move to ban Huawei, plus the additional tariffs on $200 billion worth of Chinese products will hurt China’s economy. But according to the CEO of Huawei, China knew Trump would add additional tariffs, and the country prepared for that event. The government is injecting money into their consumer-driven economy to help Chinese consumers deal with the tariff pain.
Deutsche Bank anti-money laundering specialists found irregularities in accounts related to Jared Kushner and Donald Trump in 2016 and again in 2017. The specialists reported the alleged money-laundering to bank executives so they could report it to the U.S. Treasury Department. But the New York Deutsche Bank executives who handle Trump’s account failed to report the alleged money-laundering.
The New York Times found proof that the Trump Organization did have a deal to laundered Russian money. That’s why Trump filed a lawsuit to stop the release of his financial records. Deutsche Bank and Trump have a strange relationship, according to the Times. The German Bank didn’t care Trump beat American banks out of millions of dollars when he went bankrupt. The bank continued to lend Trump money despite his poor business record.
Now that Kim Jon Un claims Trump is an “illegal robber,” the U.S. wants to send $314 million worth of missiles to South Korea. Japan also wants to buy the same defense missiles to protect an attack by North Korea. Mr. Trump claims he still wants to make a deal with North Korea, but he’s not in a hurry. The U.S. seized one of Kim’s cargo ships, and the North Korean leader isn’t happy. He wants his ship back so he can continue violating the sanctions. But Trump plans to keep the ship until Kim destroys his nuclear arsenal.