Bill Gates let the world know Trump’s anti-China foreign policy will create issues for the technology sector of the economy. Mr. Gates planned on building an experimental nuclear reactor in China, but he scrapped the project when the Trumpster’s tariff fetish knocked the hell out of new business investments. Gates claims his technology research took a 5-year belly punch from the trade war.
Bill Barr made sure the FCC would follow his lead when he told the press Huawei and ZTE spy for China. The FTC put out a message to rural Huawei customers, and it wasn’t the kind of message they wanted to hear. The FTC wants companies to replace Huawei and ZTE components with American components as soon as possible. That demand comes on the heels of the Commerce Department renewing the Huawei business license for another 90-days.
Trump wants to bring China’s tech industry to its knees. But his plan to do that also hurts American tech companies. In fact, most businesses are sick of Trump’s tariff war. Business planning is a nightmare not knowing what or who Trump will tariff or sanction next.
Mr. Trump still claims the phase one part of the trade deal is a go. But the Chinese told the press the Trumpster will have to back off some of the tariffs before President Xi signs any agreement. Plus, the Chinese keep complaining about Trump’s theatrics and false statements. After the first phase one meeting, Mr. Trump claimed China agreed to buy $40 to $50 billion worth of farm products. Before Trump hit three tariff button China bought $20 billion worth of farm products. This year Chinese importers bought $9 billion.
American farmers claim they couldn’t meet the demand Trump boasted about and China told the press they never agreed to buy that amount of soybeans, wheat, pork, and other American farm products.
The public impeachment hearings gave the Trumpster a little Big Mac indigestion. But that didn’t stop him from turning Camp David into an adult playground for Republican senators. Mr. Trump also decided to invite Republican senators to the White House for lunch so he could put the soft squeeze on some Trumpians who might jump ship when the Senate gets the impeachment articles from the House.
The impeachment and the trade war make investors nervous. The largest hedge fund in the world, Bridgewater Associates decided to bet $1 billion on the stock market’s decline. Bridgewater’s investors think Trump’s domestic and foreign policy blunders will create a major market drop by March 2020.