More Winning: G20 Financial Ministers Forced to Acknowledge America’s Economic Exceptionalism

Elder Patriot – Because of President Trump Americans can be proud of their country again.

While the global elites never pass on an opportunity to invoke former President Obama’s lead in denigrating America, President Trump is demanding respect and is getting it.

Albeit grudgingly.  During the 2016 presidential campaign, Trump represented himself as the consummate dealmaker.  A little bit more than two years into his presidency even his most strident detractors are having a hard time denying he is producing on his braggadocio.

Nearly four decades ago a much younger Donald Trump explained his frustrations with the ineptitude (corruption?) of our nation’s leaders and how one man could turn it all around:

It ain’t bragging if you produce on your promises.

It’s become undeniable that as president, Trump has restored the economic engine that powers the world and the gnashing of teeth by the finance ministers (a somewhat high-brow was to reference the corrupt economic leaders of the world’s major economic countries) cannot hide that they need us far, far more than we need them.

No matter how Reuters attempts to apply spin, one thing is undeniable, the world’s so-called leading economies cannot be sustained if they are forced to abide by “free, fair and reciprocal” trade with the United States.

Reuters

[…] Policymakers from the Group of 20 industrialized countries are worried that the weakness evident in key economies could spread, especially if elevated trade tensions, such as those between the United States and China, escalate further.

“The balance of risks remains skewed to the downside,” Japanese Finance Minister Taro Aso said at a news conference following a meeting of G20 finance ministers and central bankers. “We recognize the risk that growth prospects might deteriorate if weakening in key economies feed into each other.”

[…] As the chair country of this year’s G20 proceedings, Japan wants to deepen talks on global imbalances – an effort to divert Washington’s attention from bilateral trade imbalances and stave off U.S. pressure to negotiate two-way trade deals.

German Finance Minister Olaf Scholz, speaking at an event on the sidelines of the meetings in Washington, said the rules-based order of multilateralism is increasingly under threat and leaders must uphold international cooperation.  

Imagine that, an admission by the world’s elite economic leaders that if they aren’t allowed to pick the pockets of America – and Americans – their economies will stagnate… or worse.

Trump and his economic team is teaching these paragons of economic intellect the most fundamental lesson:

Investment capital flows to the location of highest return. Always.

 

That’s exactly what’s happening due to Trump’s economic policies.  Investment capital is rushing into the United States from every corner of the globe.

Instead of adjusting to the realities of Trump’s economic nationalism, some G20 members remain resolute in demanding access to our markets while continuing to block our access to theirs.

The European Union cannot find its way to accept U.S. insistence that market access for its farm products must be included as part of any negotiations.  Instead, the EU remains intransigent having ruled that out as a non-starter.

This is especially damning for Germany, whose exports of cars and parts to the U.S. account for more than half the EU total.

It’s hard to see how Germany expects to press ahead with talks to ward off Trump’s plan to place 25% tariffs on its carmakers, including Volkswagen, Mercedes maker Daimler, and BMW, if they won’t relent on opening its markets to U.S. farm products.

This is the very definition of insanity.

France has decided on a different course though just as insane.  Team Macron is insisting that climate change provisions must feature in any deal. – a difficult demand given Trump’s withdrawal from the Paris climate agreement.

Prior to special counsel Robert Mueller’s report, the refusal of these economic ministers to negotiate could be dismissed as hope President Trump would be prematurely removed from office.  But that is no longer the case.

Since the release of the Mueller Report, the probability of President Trump being re-elected has been soaring leading us to wonder WTF these snobs are doing by continuing to resist truly “free, fair and reciprocal” trade?

The remedy for the economies of the world isn’t the removal of President Trump, it’s the removal of the same tired ministers who believe that President Trump is going to surrender America’s economic superiority.