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TheLastRefuge @TheLastRefuge2
, 30 tweets, 9 min read Read on Twitter
1. POTUS Trump is delivering an awakening to a generation who have never known trade policy as applied to a balanced U.S. economy. So let me hit on a few of the top-line issues.
2. America-First is a nationalistic approach to U.S. economic and trade policy that seeks to protect and elevate the standard of living for U.S. workers and specifically the American middle-class.
3. Obviously the application of "economic nationalism" is adverse to the interests of multinational corporations. The multinationals have been purchasing U.S. policy through DC politicians for decades. However, the last 30+ years have seen exceptionally high increases.
4. The results of that purchased economic policy has been both Democrats and Republicans selling out Main Street interests in favor of the financial interests of multinationals on Wall Street.
5. We see the results all over the country will exported jobs and manufacturing. You don't have to guess on the consequences; those purchased trade and economic policies stare us in the face every day.
6. Resetting the economics to restore a thriving middle-class requires reversing policy, and reestablishing priorities. Government cannot force investment, economic policy can only create the conditions for investment.
7. However, creating the conditions for investment inside the U.S. means shifting the policies that previously made investment outside the U.S. the "best play". That's where tax policy, trade policy, tariffs and renegotiated trade deals drive the action.
8. POTUS Trump assembled a unique and specific set of economic policies to reverse the 30 year exfiltration of American wealth. He didn't come up with this in a short amount of time; the plan has been developed for many years.
9. Each policy move is connected to the prior policy move. Each initiative builds on the preceding initiative. Each current sequential step is established to deconstruct a historic policy step that might be decades old.
10. Each participant in the America-First economic policy implementation has a role to play. Treasury (Mnuchin), Commerce (Ross), Trade (Lighthizer), and strategy (Navarro).
11. The opposition to the America-First economic policy are ALL THOSE who benefited from the prior. ie. multinational corporations, multinational financials, Wall Street, purchased politicians and yes, corporate media play a BIG role in opposition.
12. The implementation of the policy requires two elements: Tax and Trade. Inside the Trump administration there are economic policy advocates who agree on the tax element, but disagree on the trade element. Economic adviser Gary Cohn is an example.
13. The Wall Street crowd align with Trump on taxes, but fundamentally split from him on trade. The combined Trump policy is part of the larger America-First initiative, but some within the group only agree with half of the aggregate policy. This is why there is a split.
14. This policy split is what makes President Trump [ @realDonaldTrump ] so stunningly unique amid politicians. POTUS Trump splits from the economic team on matters surrounding Main Street's best interests.
15. This dynamic, and the need to restore a balanced U.S. economy, is where Commerce Secretary Wilbur Ross becomes so critical. Ross is the person creating the fulcrum in the balanced economy reset.
16. POTUS Trump and Secretary Ross always knew they would need to jettison part of the administrations' economic team once they accomplished, and moved past, tax reform. Their focus now is laser targeted policy toward Main Street.
17. This is phase #2 of the total policy execution. Secretary Ross outlined how the ‘America First’ economic policy and phase-2 platform engages with the global community during a panel discussion at the World Economic Forum.
18. The corporate media, even the financial media, never highlighted the severity expressed by Wilbur Ross at Davos - because the Main Street policy he was explaining is directly against their interests.
19. During the Davos World Economic Forum, @SecretaryRoss conveyed to the larger multinational interests an explanation of the high-level shift in U.S. trade policy, and reinforced the Trump Doctrine of economic nationalism.
20. Secretary Ross told the panel: “The Chinese for quite a little while have been superb at free-trade rhetoric and even more superb at highly protectionist behavior. Every time the U.S. does anything to deal with a problem, we are called protectionist.”
21. "Protectionists" they were predicted to shout. Well, cue the audio visual demonstrations over the past few days surrounding Steel and Aluminum tariffs.
22. Also at Davos in January, after three decades of President Trump outlining his trade views, secretary Ross accurately said President Donald Trump has a forceful leadership style that some people don’t like.
23. … “We don’t intend to abrogate leadership, but leadership is different from being a sucker and being a patsy. We would like to be the leader in making the world trade system more fair and more equitable to all participants” Ross said.
24. @SecretaryRoss also challenged the panelists, including World Trade Organization Director-General Roberto Azevedo and Cargill Inc. CEO David MacLennan, to name a nation that’s less protectionist than the U.S. - - - He got no responses.
25. Not taking any guff, Secretary Ross then cited a study of more than 20 products that showed China had higher tariffs on all but two items on the list, and Europe all but four. The panel sat jaw-agape at Ross's delivery of irrefutable facts to the audience.
26. “Before we get into sticks and stones about free trade we ought to first talk about, is there really free trade or is it a unicorn in the garden,” said Ross. Again, no response from the panel.
27. Despite the tariffs Trump imposed in January on solar panels and washing machines; and despite the proposition of Steel and Aluminum tariffs, China is hoping for a “bumper year” for new trade deals, according to China’s own Commerce Ministry.
28. Wilburine was pulling no punches, and he deconstructed the ridiculous arguments brilliantly. At 14:50 you can hear a pin drop in the room to Ross’s correcting the record. Again, around 17:30 Ross bears his teeth:
29. For the past 30+ years, DC politicians have been selling out the U.S. economy to corporate interests, Wall Street and multinationals. POTUS Trump is simply saying "no more", and finally putting a stop to it. They hate him. He doesn't care.
30. /The End
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