Beef Prices Soar
U.S. beef prices are soaring to record highs as the country’s cattle inventory reaches its lowest level in more than 70 years, putting further strains on Americans’ grocery bills, the Financial Times reports.
Liberals in Canada One Seat Closer to Outright Majority
Canada’s Liberals are now just two seats short of an outright parliamentary majority after a recount in a Quebec riding gave Liberal candidate a win by just one vote, the BBC reports.
Trump’s Trillion Dollar Trip
“President Trump leaves for the Gulf on Monday and is aiming to return home with $1 trillion worth of deals and investment pledges,”Axios reports.
New York Times: Trump heads to Middle East with single goal: Deals, deals, deals.
Josh Hawley Urges No Cuts to Medicaid
Sen. Josh Hawley (R-MO), writing in the New York Times:
“It’s safe to say the Trump coalition was not pulling the lever for Medicaid cuts in November…”
“Many of my House and Senate colleagues keep pushing for substantial cuts, and the House will begin to hash out its differences in negotiations this week… Republicans need to open their eyes: Our voters support social insurance programs. More than that, our voters depend on those programs.”
So Who Won the Trade War?
Playbook: “Critics will inevitably see this as yet another capitulation from Trump, who — let’s not forget — had been insisting in the run-up to ‘Liberation Day’ that he planned to bring in ‘billions and billions of dollars’ from his reciprocal tariffs.”
“Having swiftly paused most of them following wobbles in the bond market, he focused his efforts on China instead. Now, one month later, amid fears of rising inflation and warnings of empty shelves in the run-up to Christmas, Trump has pulled the plug again.”
U.S. and China Agree to Large Tariff Cuts for 90 Days
“The U.S. and China agreed to slash punishingly high tariffs on each other’s goods, a major thaw in trade relations that resets the tone between the world’s two largest economies from outright conflict to constructive engagement,” the Wall Street Journal reports.
CNBC: “The deal means ‘reciprocal’ tariffs between both countries will be cut from 125% to 10%. The U.S.′ 20% duties on Chinese imports relating to fentanyl will remain in place, meaning total tariffs on China stand at 30%.”
New York Times: “The agreement, for now, breaks an impasse that had brought much trade between China and the United States to a halt.”
Ken Paxton Crushing John Cornyn in Possible Primary
“Sen. John Cornyn (R-TX) trails Texas Attorney General Ken Paxton by 16 points in a new poll commissioned by the Senate Leadership Fund, the GOP-leadership backed super PAC,” Punchbowl News reports.
“SLF is supporting Cornyn. Their poll has Cornyn trailing Paxton 56% to 40%.”
Trump Auction Creates Foreign Influence Opportunity
“The sale of face-to-face access to President Trump using the Trump family’s own cryptocurrency has done more than benefit him financially, though it has certainly done that,” the New York Times reports.
“Mr. Trump announced last month that leading buyers of a digital coin his family is marketing would be rewarded with a private dinner with him at one of his golf courses and that the very top bidders would win a tour of the White House.”
“The auction, which ends Monday, has set off a spectacle that has drawn bipartisan criticism, triggered a suspicious trading pattern, and left a sitting United States president wide open to attempts to corruptly influence him.”
Trump’s Family Rapidly Striking Deals in the Mideast
“When President Trump tours the Middle East this week, he will be looking to secure investments in the U.S. from the world’s richest petrostates. His family businesses and close associates already have been striking deals in the region at a rapid clip,” the Wall Street Journal reports.
“Saudi Arabia, the United Arab Emirates and Qatar, the three countries on the president’s itinerary, stand out for their warm embrace of Trump Inc.”
Trump Repeatedly Bypasses Netanyahu
“During his first major overseas trip this week, President Donald Trump is set to visit three countries in the Middle East — Saudi Arabia, Qatar and the United Arab Emirates — without stopping in Jerusalem,” the Washington Post reports.
“It’s not the first time he has bypassed Israel — or Prime Minister Benjamin Netanyahu.”
“From embarking on nuclear talks with Iran to attempting hostage talks with Hamas without Israel’s knowledge, Trump has increasingly sidelined Netanyahu, stoking anxieties in a country long accustomed to being consulted by successive U.S. administrations.”
North Korea Infiltrates U.S. Tech Companies
“A growing number of the nation’s top tech firms have hired remote information technology workers, only to discover that the employees were actually North Korean cyber operatives,” Politico reports.
“Their goal? Cashing in on top tech salaries to funnel millions of dollars back to Pyongyang for its weapons program.”
Trump Will Sign Executive Order to Lower Drug Prices
“President Trump on Sunday said he would sign an executive order aimed at lowering the cost of prescription drugs, looking to implement a policy that ties U.S. drug prices to what other countries pay,” the Wall Street Journal reports.
“Trump said he would be instituting a policy known as ‘Most Favored Nation,’ wherein the U.S. government pays prices for drugs that are tied to the prices paid by other countries. Many other countries pay lower prices for medications because their single-payer healthcare systems negotiate for deals.”
“He didn’t specify whether the order would apply to Medicare, Medicaid or other government programs.”
The only problem with the proposal is the president cannot set prices by executive order.
Proposal Cutting Medicaid Aims for GOP Middle Ground
“House Republicans are releasing their plan to cut Medicaid spending, with the program’s defenders in the GOP appearing to win the intraparty clash over how aggressively to change the system that provides health insurance to more than 70 million low-income and disabled people,” the Wall Street Journal reports.
“A section-by-section summary of the bill text includes some of the changes Republicans have weighed for Medicaid, including work requirements and more frequent eligibility checks. But it doesn’t lower the minimum share the federal government contributes to Medicaid in each state, cap per-person federal spending in the program or other steps some spending hawks sought.”
Laura Loomer Slams Trump Over Qatari Jet
MAGA activist Laura Loomer criticized President Trump over reports that his administration plans to accept a luxury jet from the government of Qatar, calling the move “a stain” on his presidency.
Said Loomer: “I love President Trump. I would take a bullet for him. But, I have to call a spade a spade. We cannot accept a $400 million ‘gift’ from jihadists in suits.”
White House Announces ‘Trade Deal’ with China
The White House on Sunday announced a “trade deal” with China without providing specifics, after Trump administration officials spent the weekend negotiating with their Chinese counterparts, CNBC reports.
Washington Post: “More details will be announced Monday, officials from both countries said.”
Bloomberg: “Markets to decide if words are enough after U.S.-China trade talks.”
Traffic Slows at Los Angeles Port
Washington Post: “The number of shipping containers that arrived at the nation’s top container port last week was roughly one-third lower than during the same period last year — a sharper decline than during the depths of the Great Recession. More than one-fifth of the giant ships that were scheduled to call in Los Angeles this month have already canceled, and that number is expected to rise.”
Bonus Quote of the Day
“The Trump Administration is drowning in corruption–and few Americans seem to care. It’s another sign of a dying Republic.”
— Professor Larry Sabato, quoted by Blue Virginia.
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