Trump complains to EU leaders about ‘bad, very bad’ German trade surplus with U.S.

President Trump, in a meeting with EU leaders on Thursday, complained about Germany’s “bad, very bad” trade surplus with the United States, the German newspaper Süddeutsche Zeitung reports.  May 25th, 2017 [Inside Trade] According to an informal translation of the news report, Trump made clear the reduction of the U.S. trade deficit is an “absolute priority” for…

Trump’s right about Germany

President Donald Trump had harsh words for Germany at a NATO meeting in Belgium this week, where he reportedly referred to the Germans as “bad, very bad.” Gary Cohn, the president’s top economic adviser, later clarified that Trump was referring to Germany’s trade practices. [DANNY VINIK] May 26th, 2017 [Politico] The criticism of a close…

Media Coverage: Wilbur Ross says he’s ‘open to resuming’ talks on mega-trade deal with Europe

After a series of angry tweets from President Donald Trump directed toward Germany over trade, Commerce Secretary Wilbur Ross told CNBC on Tuesday he is open to continuing talks on a proposed trade pact with the European Union. [Lori Ann LaRocco | May 30th, 2017 | CNBC] After a series of angry tweets from President Donald Trump directed toward Germany over trade, Commerce Secretary Wilbur Ross told CNBC on Tuesday he is open…

China Hitches Yuan to the Dollar, Buying Rare Calm

China’s central bank is effectively anchoring the yuan to the dollar, a policy twist that has helped stabilize the currency in a year of political transition and market jitters about China’s economic management.   [Lingling Wei & Saumya Vaishampayan] May 25th, 2017 [The Wall Street Journal] The yuan weakened more than 6% against the dollar in…

Lighthizer to Perdue, lawmakers: Agriculture ‘will be front and center’ in every trade deal

U.S. Trade Representative Robert Lighthizer this week told Agriculture Secretary Sonny Perdue and members of the House Agriculture Committee the Trump administration will prioritize exports of U.S. agriculture products and that “do no harm has got to be our objective” for upcoming NAFTA talks with Mexico and Canada — a renegotiation process the panel’s chairman,…

Ryan bucks White House, setting up clash on taxes

Paul Ryan and the White House are barreling toward a tax reform show-down — a face-off that’s becoming all but inevitable as the speaker continues selling a tax plan rejected by Trump officials. [RACHAEL BADE and JOSH DAWSEY] May 22nd, 2017 [Politico] At issue is a controversial pillar of the House GOP tax plan that effectively hikes…