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trade

Colombia Caves on Illegals, CIA Points to COVID Lab Leak, Trump Won’t Let Bass Off the Hook

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Listen to “Colombia Caves on Illegals, CIA Points to COVID Lab Leak, Trump Won’t Let Bass Off the Hook” on Spreaker.

Join Jim and Greg for all good martinis on the 3 Martini Lunch podcast as they dive into Colombia’s brief resistance to the U.S. returning criminal illegals, the CIA’s admission about COVID-19’s likely lab leak origin, and President Trump’s push to speed up recovery efforts for California wildfire victims.

First, Jim and Greg recap the short-lived trade war with Colombia. Tensions flared when Colombia’s president initially refused to allow repatriation flights carrying criminal illegals to land in the country. In response, President Trump swiftly threatened major tariffs and other diplomatic penalties. Colombia quickly reversed course, agreeing to Trump’s demands and allowing the flights to proceed.

Next, Jim celebrates the CIA’s acknowledgment of what many had suspected all along: that the most likely cause of the COVID-19 pandemic was a lab leak from Wuhan, China. Most of us have known this for a long time, but the Biden-era CIA infamously decided it was unclear how it all started. But that doesn’t mean this is over. Jim says these new conclusions should lead to important new questions.

Finally, Jim and Greg discuss Trump’s recent call for faster action to help Los Angeles-area residents who lost their homes in wildfires. During a public forum with LA Mayor Karen Bass, Trump urged local officials to streamline bureaucracy, allowing fire victims to access their property and begin debris removal to make way for rebuilding.

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‘The Severity Is Much Greater Than China Is Reporting’

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Listen to “‘The Severity Is Much Greater Than China Is Reporting'” on Spreaker.

The Chinese government is reporting more than 1,000 deaths related to coronavirus but China expert Gordon Chang says it’s clear from how officials are reacting with mass quarantines and other tactics that the problem is much worse than reported.

“The severity is much greater than China is officially reporting,” said Chang. “There are stories that Wuhan, the epicenter of the virus, is cremating hundreds of bodies a day. That doesn’t fit very easily with a death toll of a thousand.”

But why what does China have to gain by lying about the severity? Chang says it’s all about control.

“Xi Xinping, the Chinese ruler, is much more interested in controlling the narrative than he is in ending the epidemic,” said Chang.

Chang discusses the impact that the mass quarantines are having on the Chinese economy and what the U.S. posture should be as this plays out.

In addition, Chang reacts to the news that the U.S. is indicting four Chinese military officials for the massive 2017 Equifax hack that compromised the information of more than 145 million people.

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Why Small Businesses Could Be Big Winners in USMCA

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Listen to “Why Small Businesses Could Be Big Winners in USMCA” on Spreaker.

On Thursday, the U.S. Senate overwhelmingly approved the USMCA, the new North American trade compact among the U.S., Mexico, and Canada, and a leading small business advocate says there are plenty of changes to make life easier for American businesses and entrepreneurs.

What regulatory changes will help business owners keep costs down? How does the agreement give small business a much bigger voice in future trade deliberations? What additional provisions are included to protect intellectual property rights?

We get answers to those questions and discuss the ongoing trade talks with China with Karen Kerrigan, President and CEO of the Small Business and Entrepreneurship Council.

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Martini Awards Part 4: Best Idea, Worst Idea, Boldest Tactic

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Listen to “Martini Awards Part 4: Best Idea, Worst Idea, Boldest Tactic” on Spreaker.

More year-end awards today!  Jim and Greg embark on the second half of their six-episode saga known as the 2019 Three Martini Lunch Awards. Today, they offer up their selections for the best political idea, worst political idea, and boldest political tactics for the year.

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Tories Crush Corbyn, Tentative Trade Optimism, Biden’s Big Problem

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Listen to “Tories Crush Corbyn, Tentative Trade Optimism, Biden’s Big Problem” on Spreaker.

It’s finally Friday!  Yes, we are fully aware of the impeachment votes in the House Judiciary Committee but Jim sums up his analysis in roughly two seconds as we begin today’s podcast.  After that Jim and Greg celebrate the big win for the Conservative Party in the UK and are thrilled to report the political demise of Jeremy Corbyn.  They are also hoping that the substance matches the excitement as Congress prepares to pass the U.S.-Mexico-Canada trade agreement to replace NAFTA and President Trump announces agreement on “phase one” of trade negotiations with China.  And Jim details why Joe Biden’s campaign could face serious turbulence after reports that Hunter Biden had a 1988 drug arrest expunged at the same time Sen. Biden was advocating for very tough drug crime sentencing.

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Why Rep. Yoho Won’t Support USMCA

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Listen to “Why Rep. Yoho Won’t Support USMCA” on Spreaker.

House Republicans are hammering Speaker Nancy Pelosi for putting legislative business on hold while the impeachment process plays out. At the top of their grievance list is the inaction on the USMCA, the trade agreement among the U.S., Canada, and Mexico designed to replace NAFTA.

Florida Rep. Ted Yoho tells Greg Corombos how impeachment is gumming up the legislative works but he also details why he cannot support USMCA in it’s current form…and why he doesn’t think it has the votes to pass at all.

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Why the Trade War Hurts China More

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Listen to “Why the Trade War Hurts China More” on Spreaker.

The United States and China are engaged in high-level trade talks punctuated by tariffs inflicted in both directions, and while U.S. consumers may soon feel the pinch of higher prices, a leading China expert says the communist regime in Beijing is suffering far more.

“China has a trade-dependent economy and we do not,” said Gordon Chang, an East Asia policy expert and author of “The Coming Collapse of China.”  “Last year, China’s trade surplus with the U.S. accounted for 199.3 percent of it’s overall merchandise surplus.  That’s incredible dependence on access to the U.S. market.”

According to Chang, the U.S. needs to hammer China for anywhere between $150-600 billion to counter China’s prolific theft of U.S. intellectual property, or IP.

Many free trade advocates, including those in President Trump’s own party, agree that China is running roughshod over intellectual property rights but they contend Trump’s approach will only result in higher costs for American consumers.

Chang agrees that Americans will feel some pain, but he believes it will be mild compared to the impact on China.

“Yes, these tariffs will hurt us but China, up to now, has been absorbing probably more of the cost of these tariffs than we have.  So President Trump has been correct,” said Chang, who warns the financial impact on American consumers will get more severe the longer the trade impasse continues.

“As he extends tariffs to all Chinese good, which could happen in the not-too-distant future, then the percentage borne by the United States will be higher for sure.  But at some point, we have got to recognize that we cannot sustain the loss of all of this IP and that this is a critical threat to our economy and our society,” said Chang.

But Chang insists if we’re going to stop China’s predatory practices, the U.S. must pursue this course.

“We’ve just got to realize that we cannot get out of decades of misguided trade policy with China and expect there will be no cost.  There is a cost already and we’re going to have to bear it in ways which are more obvious than in the past,” said Chang.

Listen to the full podcast to hear whether no deal is better than a good deal with China for the foreseeable future and why Chang thinks Trump is making a big mistake in how he is dealing with China when it comes to the North Korean nuclear threat.

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Between Two Scorpions, Biden Flips on China, ‘Not Sure’ Beating Most Dems

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Listen to “Between Two Scorpions, Biden Flips on China, ‘Not Sure’ Beating Most Dems” on Spreaker.

Jim Geraghty of National Review and Greg Corombos of Radio America discuss what readers can expect in Jim’s new book, Between Two Scorpions. Joe Biden flip-flops on trade and calls President Trump “an existential threat” to the United States. Meanwhile, Democrats in Iowa grow more uncertain as to who they will support from the busload of presidential candidates.

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US, Mexico, Canada Agree to Lift Steel and Aluminum Tariffs

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Listen to “US, Mexico, Canada Agree to Lift Steel and Aluminum Tariffs” on Spreaker.

The United States reached an agreement with Canada and Mexico to lift the Trump administration’s tariffs on steel and aluminum imports. The news comes as a breath of fresh air to investors and President Trump in the midst of deteriorating trade relations between the U.S. and China. The Trump administration hopes lifting the tariffs will help in the ratification of the USMCA trade agreement signed by Canada, Mexico, and the United States in November to replace NAFTA. Matt Fisher reports.

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Energy Boom vs. Green New Deal

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Listen to “Energy Boom vs. Green New Deal” on Spreaker.

American energy is booming at levels virtually unthinkable a decade ago, but will the good times continue or get derailed by the Green New Deal?

American Petroleum Institute President Mike Sommers explains how the U.S. grew from energy dependence to a net exporter of energy in recent years and who deserves the credit.

He also tells us why the new trade deal with Canada and Mexico could help the energy sector even more and why he believes the Green New Deal is not grounded in reality.

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