The Chinese will come to Washington to show the world they have no problem making a deal with the devil inside of Trump as long as he stops tariff-whipping both countries. President Xi and Mr. Trump have ideological as well as political challenges facing them. The chance a trade deal will happen while Trump is in charge is pretty slim, according to the New York Times.
China wants to sign a trade deal if Trump drops the tariffs. And China’s President wants Trump to stop asking him to change how his capitalistic government operates. Mr. Trump wants to keep the tariffs in place for security and to help pay down the massive debt his compulsive spending and tax cut deal adds to the $22 trillion national debt every year.
The other thorn in Trump’s side is Iran. Trump wants his business partner Ben Netanyahu to get reelected. But that’s not going well for Ben. His opponent got as many votes as he did, and that means one of them has to form a government, fast, according to the Associated Press.
Iran is ready to adhere to the nuclear deal if Trump rejoins the 2015 agreement. But Trump won’t rejoin the Iranian nuclear deal because Obama signed it. He wants another deal that makes Iran stop backing terrorists like the Houthis. President Rouhani told Trump to forget that idea as long as his pal Prince Bin Salman wants to take land that doesn’t belong to Saudi Arabia.
Mr. Trump added more sanctions to the cash-blocking sanctions in place now. But the sanctions won’t stop the Iranians from protecting what belongs to them in religious terms. Europe, Russia, and China plan to help Iran get paid for oil shipments while the sanctions are in place. France offered Iran a $15 billion line of credit. It’s Trump and Saudis against the rest of the G7, China, and Russia when it comes to protecting Iranian oil shipments, according to the New York Times.
The September Fed meeting interest rate cut didn’t surprise Wall Street economists. The quarter-of-a-percent rate cut might stimulate Trump’s sinking-fast economy for a month or two. But the rate cut also lets consumers know there is recession smoke in the economic air. Several board members disagree with the cut, but just like in 2007 it won’t take long to find out how bad Trump’s economy is for choosing to start a tariff war with friends and foes.