war

U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe wave on the way to the course to play golf at Mobara Country Club in Mobara, Chiba Prefecture
U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe wave on the way to the course to play golf at Mobara Country Club in Mobara, Chiba Prefecture, east of Tokyo, Japan May 26, 2019. Kimimasa Mayama/Pool via Reuters

May 26, 2019

By Jeff Mason

CHIBA, Japan (Reuters) – U.S. President Donald Trump kicked off the second day of a Japan visit on Sunday with a round of golf with Prime Minister Shinzo Abe, engaging in personal diplomacy aimed at smoothing tough discussions over differences on trade.

Trump, dressed in a red pullover, and Abe, wearing a blue blazer and white pants, met on a lawn and smiled for photographers before taking off for their game.

Abe’s office later posted a “selfie” picture on the course with Trump and Abe smiling together. Abe said in the post he hoped to make the Japan-U.S. alliance “even more unshakeable.”

The president’s state visit is meant to showcase the strength of the Japan-U.S. relationship, but tensions over trade have provided a backdrop of uncertainty.

Trump is unhappy with Japan’s large trade surplus and is considering putting high tariffs on its auto exports if a bilateral trade agreement is not reached. The United States and China are engaged in an expensive trade war that has pounded financial markets worldwide.

During remarks to business leaders on Saturday night, Trump ribbed Japan over its trading “edge” while saying progress had been made.

“With this deal, we hope to address the trade imbalance, remove barriers to United States exports, and ensure fairness and reciprocity in our relationship. And we’re getting closer,” he said.

“Just last week, U.S. beef exports gained full access to Japan and to the markets in Japan for the first time since the year 2000. We welcome your support in these efforts, and we hope to have several further announcements soon, and some very big ones over the next few months.”

Fox News reported on Sunday that Trump planned to wait until after Japanese elections in July to push for a trade deal, and officials have played down prospects of any major progress on the president’s trip.

The two leaders are also likely to discuss North Korea’s nuclear and missile programs. Trump said on Sunday he was not concerned about recent missile launches from North Korea and was confident that the country’s leader, Kim Jong Un, would keep his promises.

After their golf game, Abe and Trump will attend a sumo tournament.

“I’ve always found that fascinating,” Trump said about Japan’s national sport during a meeting with Abe in Washington last month. “So, in fact, we’re having a trophy made in this country. We’re going to give the trophy to the winner of the championship.”

That trophy, now finished, weighs 60-70 pounds and is being called the “President’s Cup,” according to a White House official.

Trump will be the first U.S. president to attend such a tournament, according to another U.S. official, and the first to present a cup in the ring.

He is attending the final day of a 15-day tournament.

(Reporting by Jeff Mason; Editing by Nick Macfie)

Source: OANN

U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe wave on the way to the course to play golf at Mobara Country Club in Mobara, Chiba Prefecture
U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe wave on the way to the course to play golf at Mobara Country Club in Mobara, Chiba Prefecture, east of Tokyo, Japan May 26, 2019. Kimimasa Mayama/Pool via Reuters

May 26, 2019

By Jeff Mason

CHIBA, Japan (Reuters) – U.S. President Donald Trump kicked off the second day of a Japan visit on Sunday with a round of golf with Prime Minister Shinzo Abe, engaging in personal diplomacy aimed at smoothing tough discussions over differences on trade.

Trump, dressed in a red pullover, and Abe, wearing a blue blazer and white pants, met on a lawn and smiled for photographers before taking off for their game.

Abe’s office later posted a “selfie” picture on the course with Trump and Abe smiling together. Abe said in the post he hoped to make the Japan-U.S. alliance “even more unshakeable.”

The president’s state visit is meant to showcase the strength of the Japan-U.S. relationship, but tensions over trade have provided a backdrop of uncertainty.

Trump is unhappy with Japan’s large trade surplus and is considering putting high tariffs on its auto exports if a bilateral trade agreement is not reached. The United States and China are engaged in an expensive trade war that has pounded financial markets worldwide.

During remarks to business leaders on Saturday night, Trump ribbed Japan over its trading “edge” while saying progress had been made.

“With this deal, we hope to address the trade imbalance, remove barriers to United States exports, and ensure fairness and reciprocity in our relationship. And we’re getting closer,” he said.

“Just last week, U.S. beef exports gained full access to Japan and to the markets in Japan for the first time since the year 2000. We welcome your support in these efforts, and we hope to have several further announcements soon, and some very big ones over the next few months.”

Fox News reported on Sunday that Trump planned to wait until after Japanese elections in July to push for a trade deal, and officials have played down prospects of any major progress on the president’s trip.

The two leaders are also likely to discuss North Korea’s nuclear and missile programs. Trump said on Sunday he was not concerned about recent missile launches from North Korea and was confident that the country’s leader, Kim Jong Un, would keep his promises.

After their golf game, Abe and Trump will attend a sumo tournament.

“I’ve always found that fascinating,” Trump said about Japan’s national sport during a meeting with Abe in Washington last month. “So, in fact, we’re having a trophy made in this country. We’re going to give the trophy to the winner of the championship.”

That trophy, now finished, weighs 60-70 pounds and is being called the “President’s Cup,” according to a White House official.

Trump will be the first U.S. president to attend such a tournament, according to another U.S. official, and the first to present a cup in the ring.

He is attending the final day of a 15-day tournament.

(Reporting by Jeff Mason; Editing by Nick Macfie)

Source: OANN

Illustration picture showing U.S. dollar and China's yuan banknotes
A U.S. dollar banknote featuring American founding father Benjamin Franklin and a China’s yuan banknote featuring late Chinese chairman Mao Zedong are seen among U.S. and Chinese flags in this illustration picture taken May 20, 2019. REUTERS/Jason Lee/Illustration

May 25, 2019

BEIJING (Reuters) – The United States has called on China to curb the development of its state-owned enterprises (SOEs), a demand that China sees as an “invasion” on its economic sovereignty, Chinese state news agency Xinhua said on Saturday.

Trade tensions between Washington and Beijing escalated sharply earlier this month after the Trump administration accused China of having “reneged” on its previous promises to make structural changes to its economic practices.

Washington later slapped additional tariffs of up to 25% on $200 billion of Chinese goods, prompting Beijing to retaliate.

As trade talks stalled, both sides have appeared to be digging in. China has denied it had walked back on its promises but reiterated it would not make concessions to “matters of principles” to defend its core interests, although no full details were given.

“At the negotiating table, the U.S. government presented a number of arrogant demands to China, including restricting the development of state-owned enterprises,” Xinhua said in a commentary.

SOEs in China enjoy not only explicit subsidies but also hidden benefits such as implicit government guarantees for debts and lower interest for bank loans, analysts and trade groups say.

“Obviously, this is beyond the scope of trade negotiations and touches on China’s fundamental economic system,” Xinhua said.

“This shows that behind the United States’ trade war against China, it is trying to invade China’s economic sovereignty and force China to damage its core interests.”

The commentary added the United States has made unfounded accusations including that Beijing had forced technology transfers from foreign firms operating in China, saying this is all evidence that the U.S side is “forcing China to change its development path.”

(Reporting by Yawen Chen and Ryan Woo; Editing by Frances Kerry)

Source: OANN

The Economic Innovation Group’s (EIG) Distressed Communities Index (DCI) shows a significant economic transformation (from two distinct periods: 2007-2011 and 2012-2016) that occurred since the financial crisis. The shift of human capital, job creation, and business formation to metropolitan areas reveals that rural America is teetering on the edge of collapse.

Since the crisis, the number of people living in prosperous zip codes expanded by 10.2 million, to a total of 86.5 million, an increase that was much greater than any other social class. Meanwhile, the number of Americans living in distressed zip codes decreased to 3.4 million, to a total of 50 million, the smallest shift of any other social class. This indicates that the geography of economic pain is in rural America.

“While the overall population in distressed zip codes declined, the number of rural Americans in that category increased by nearly 1 million between the two periods. Rural zip codes exhibited the most volatility and were by far the most likely to be downwardly mobile on the index, with 30 percent dropping into a lower quintile of prosperity—nearly twice the proportion of urban zip codes that fell into a lower quintile.

Meanwhile, suburban communities registered the greatest stability, with 61 percent remaining in the same quintile over both periods. Urban zip codes were the most robust—least likely to decline and more likely than their suburban counterparts to rise,” the report said.

Visualizing the collapse: Economic distress was mostly centered in the Southeast, Rust Belt, and South Central. In Alabama, Arkansas, Mississippi, and West Virginia, at least one-third of the population were located in distressed zip codes.

Prosperous zip codes were the top beneficiaries of the jobs recovery since the financial crisis. All zip codes saw job declines during the recession, each laying off several million jobs from 2007 to 2010. But by 2016, prosperous zip codes had 3.6 million jobs surplus over 2007 levels, which was more than the bottom 80% of distressed zip codes combined. It took five years for prosperous zip codes to replace all jobs lost from the financial crisis; meanwhile, distressed zip codes will never recover.

EIG shows that less than 25% of all counties have recovered from business closures from the recession.

“US business formation has been dismal in both magnitude and distribution since the Great Recession. The country’s population is almost evenly split between counties that have fully replaced (with 161 million residents) and those that have not (with 157.4 million). This divide is due to the fact that highly populous counties—those with more than 500,000 residents—were far more likely to add businesses above and beyond 2007 levels than their smaller peers. Nearly three in every five large counties added businesses on net over the period, compared to only one in every five small one,” the report said.

To highlight the weak recovery and geographic unevenness of new business formation, EIG shows that the entire country had 52,800 more business establishments in 2016 than it did in 2007.

Five counties (Los Angeles, CA; Brooklyn, NY; Harris, TX (Houston); Queens, NY; and Miami-Dade, FL. ) had a combined 55,500 more businesses in 2016 than before the recession. Without those five counties, the US economy would not have recovered.

On top of deep structural changes in rural America, JPMorgan told clients last week that the entire agriculture complex is on the verge of disaster, with farmers in rural America caught in the crossfire of an escalating trade war.

“Overall, this is a perfect storm for US farmers,” JPMorgan analyst Ann Duignan warned investors.

Farmers are facing tremendous headwinds, including a worsening trade war, collapsing soybean exports to China, global oversupply conditions, and crop yield losses in the Midwest due to flooding. This all comes at a time when farmers are defaulting and missing payments at alarming rates, forcing regional banks to restructure and refinance existing loans.

Today’s downturn of rural America is no different than what happened in the 1920s, 1930s, and the early 1980s.


Trump hit China with 25% on more than half of their exports. The stock market panicked this week. Here’s why you should celebrate…

Source: InfoWars

The Economic Innovation Group’s (EIG) Distressed Communities Index (DCI) shows a significant economic transformation (from two distinct periods: 2007-2011 and 2012-2016) that occurred since the financial crisis. The shift of human capital, job creation, and business formation to metropolitan areas reveals that rural America is teetering on the edge of collapse.

Since the crisis, the number of people living in prosperous zip codes expanded by 10.2 million, to a total of 86.5 million, an increase that was much greater than any other social class. Meanwhile, the number of Americans living in distressed zip codes decreased to 3.4 million, to a total of 50 million, the smallest shift of any other social class. This indicates that the geography of economic pain is in rural America.

“While the overall population in distressed zip codes declined, the number of rural Americans in that category increased by nearly 1 million between the two periods. Rural zip codes exhibited the most volatility and were by far the most likely to be downwardly mobile on the index, with 30 percent dropping into a lower quintile of prosperity—nearly twice the proportion of urban zip codes that fell into a lower quintile.

Meanwhile, suburban communities registered the greatest stability, with 61 percent remaining in the same quintile over both periods. Urban zip codes were the most robust—least likely to decline and more likely than their suburban counterparts to rise,” the report said.

Visualizing the collapse: Economic distress was mostly centered in the Southeast, Rust Belt, and South Central. In Alabama, Arkansas, Mississippi, and West Virginia, at least one-third of the population were located in distressed zip codes.

Prosperous zip codes were the top beneficiaries of the jobs recovery since the financial crisis. All zip codes saw job declines during the recession, each laying off several million jobs from 2007 to 2010. But by 2016, prosperous zip codes had 3.6 million jobs surplus over 2007 levels, which was more than the bottom 80% of distressed zip codes combined. It took five years for prosperous zip codes to replace all jobs lost from the financial crisis; meanwhile, distressed zip codes will never recover.

EIG shows that less than 25% of all counties have recovered from business closures from the recession.

“US business formation has been dismal in both magnitude and distribution since the Great Recession. The country’s population is almost evenly split between counties that have fully replaced (with 161 million residents) and those that have not (with 157.4 million). This divide is due to the fact that highly populous counties—those with more than 500,000 residents—were far more likely to add businesses above and beyond 2007 levels than their smaller peers. Nearly three in every five large counties added businesses on net over the period, compared to only one in every five small one,” the report said.

To highlight the weak recovery and geographic unevenness of new business formation, EIG shows that the entire country had 52,800 more business establishments in 2016 than it did in 2007.

Five counties (Los Angeles, CA; Brooklyn, NY; Harris, TX (Houston); Queens, NY; and Miami-Dade, FL. ) had a combined 55,500 more businesses in 2016 than before the recession. Without those five counties, the US economy would not have recovered.

On top of deep structural changes in rural America, JPMorgan told clients last week that the entire agriculture complex is on the verge of disaster, with farmers in rural America caught in the crossfire of an escalating trade war.

“Overall, this is a perfect storm for US farmers,” JPMorgan analyst Ann Duignan warned investors.

Farmers are facing tremendous headwinds, including a worsening trade war, collapsing soybean exports to China, global oversupply conditions, and crop yield losses in the Midwest due to flooding. This all comes at a time when farmers are defaulting and missing payments at alarming rates, forcing regional banks to restructure and refinance existing loans.

Today’s downturn of rural America is no different than what happened in the 1920s, 1930s, and the early 1980s.


Trump hit China with 25% on more than half of their exports. The stock market panicked this week. Here’s why you should celebrate…

Source: InfoWars

President Donald Trump urged Japanese business leaders on Saturday to increase their investment in the United States while he chided Japan for having a “substantial edge” on trade that negotiators were trying to even out in a bilateral deal.

Trump arrived in Japan on Saturday for a largely ceremonial state visit meant to showcase strong ties even though trade relations are problematical. In the evening, the Tokyo Sky Tree tower was lit up red, white and blue in Trump’s honor.

Shortly after arriving at the airport to a red-carpet welcome, Trump attended a reception at the residence of U.S. Ambassador William Hagerty that the White House said included Japanese business executives from Toyota, Nissan , Honda, SoftBank and Rakuten.

Trump told the company officials there had never been a better time to invest in the United States and repeated a complaint that the Federal Reserve’s policies had kept U.S. economic growth from reaching its full potential.

With trade talks ongoing, Trump also got in a dig at Japan and said he wanted a deal to address the trade imbalance between the two countries.

“Japan has had a substantial edge for many, many years, but that’s OK, maybe that’s why you like us so much,” he said.

“With this deal we hope to address the trade imbalance, removing barriers to United States exports and ensure fairness and reciprocity in our relationship,” Trump said.

Trade is one of Trump’s signature issues, and encouraging foreign investment in the United States is a hallmark of his trips abroad.

Trump will meet Japanese Prime Minister Shinzo Abe on Sunday for a round of golf, a sumo tournament and a private dinner.

The two men share a warm relationship, which the Japanese leader aims to emphasize as Washington considers tariffs on Japanese auto exports that the Trump administration views as a potential national security threat.

STILL GAPS

Trade is likely to be addressed during a formal meeting on Monday between Trump and Abe, but even a partial trade agreement isn’t expected, said Trade Minister Toshimitsu Motegi after meeting his counterpart, U.S. Trade Representative Robert Lighthizer, in Tokyo on Saturday.

Motegi said there was no discussion of Trump’s decision to declare some auto imports a national security threat.

“We deepened our understanding of each other’s positions on trade. However, we’re not in complete agreement,” Motegi told reporters following the talks. “There are still some gaps. We need to work to narrow our differences.”

The United States is in the middle of an expensive trade war with China, and trade tensions als als simmering with Japan and the European Union.

Trump’s Japan trip is largely ceremonial in nature. The president will become the first foreign leader to be received by new Japanese Emperor Naruhito since he inherited the throne earlier this month; he and Harvard-educated Empress Masako will host an elaborate dinner for the Trumps on Monday night.

A medium-strength earthquake hit eastern Japan, causing buildings to shake in Tokyo, hours before Trump’s arrival. The epicenter was southern Chiba, southeast of the capital, the prefecture where Trump is due to play golf on Sunday.

No tsunami warning was issued and there were no immediate reports of damage.

Source: NewsMax Politics

President Donald Trump urged Japanese business leaders on Saturday to increase their investment in the United States while he chided Japan for having a “substantial edge” on trade that negotiators were trying to even out in a bilateral deal.

Trump arrived in Japan on Saturday for a largely ceremonial state visit meant to showcase strong ties even though trade relations are problematical. In the evening, the Tokyo Sky Tree tower was lit up red, white and blue in Trump’s honor.

Shortly after arriving at the airport to a red-carpet welcome, Trump attended a reception at the residence of U.S. Ambassador William Hagerty that the White House said included Japanese business executives from Toyota, Nissan , Honda, SoftBank and Rakuten.

Trump told the company officials there had never been a better time to invest in the United States and repeated a complaint that the Federal Reserve’s policies had kept U.S. economic growth from reaching its full potential.

With trade talks ongoing, Trump also got in a dig at Japan and said he wanted a deal to address the trade imbalance between the two countries.

“Japan has had a substantial edge for many, many years, but that’s OK, maybe that’s why you like us so much,” he said.

“With this deal we hope to address the trade imbalance, removing barriers to United States exports and ensure fairness and reciprocity in our relationship,” Trump said.

Trade is one of Trump’s signature issues, and encouraging foreign investment in the United States is a hallmark of his trips abroad.

Trump will meet Japanese Prime Minister Shinzo Abe on Sunday for a round of golf, a sumo tournament and a private dinner.

The two men share a warm relationship, which the Japanese leader aims to emphasize as Washington considers tariffs on Japanese auto exports that the Trump administration views as a potential national security threat.

STILL GAPS

Trade is likely to be addressed during a formal meeting on Monday between Trump and Abe, but even a partial trade agreement isn’t expected, said Trade Minister Toshimitsu Motegi after meeting his counterpart, U.S. Trade Representative Robert Lighthizer, in Tokyo on Saturday.

Motegi said there was no discussion of Trump’s decision to declare some auto imports a national security threat.

“We deepened our understanding of each other’s positions on trade. However, we’re not in complete agreement,” Motegi told reporters following the talks. “There are still some gaps. We need to work to narrow our differences.”

The United States is in the middle of an expensive trade war with China, and trade tensions als als simmering with Japan and the European Union.

Trump’s Japan trip is largely ceremonial in nature. The president will become the first foreign leader to be received by new Japanese Emperor Naruhito since he inherited the throne earlier this month; he and Harvard-educated Empress Masako will host an elaborate dinner for the Trumps on Monday night.

A medium-strength earthquake hit eastern Japan, causing buildings to shake in Tokyo, hours before Trump’s arrival. The epicenter was southern Chiba, southeast of the capital, the prefecture where Trump is due to play golf on Sunday.

No tsunami warning was issued and there were no immediate reports of damage.

Source: NewsMax Politics

President Donald Trump urged Japanese business leaders on Saturday to increase their investment in the United States while he chided Japan for having a “substantial edge” on trade that negotiators were trying to even out in a bilateral deal.

Trump arrived in Japan on Saturday for a largely ceremonial state visit meant to showcase strong ties even though trade relations are problematical. In the evening, the Tokyo Sky Tree tower was lit up red, white and blue in Trump’s honor.

Shortly after arriving at the airport to a red-carpet welcome, Trump attended a reception at the residence of U.S. Ambassador William Hagerty that the White House said included Japanese business executives from Toyota, Nissan , Honda, SoftBank and Rakuten.

Trump told the company officials there had never been a better time to invest in the United States and repeated a complaint that the Federal Reserve’s policies had kept U.S. economic growth from reaching its full potential.

With trade talks ongoing, Trump also got in a dig at Japan and said he wanted a deal to address the trade imbalance between the two countries.

“Japan has had a substantial edge for many, many years, but that’s OK, maybe that’s why you like us so much,” he said.

“With this deal we hope to address the trade imbalance, removing barriers to United States exports and ensure fairness and reciprocity in our relationship,” Trump said.

Trade is one of Trump’s signature issues, and encouraging foreign investment in the United States is a hallmark of his trips abroad.

Trump will meet Japanese Prime Minister Shinzo Abe on Sunday for a round of golf, a sumo tournament and a private dinner.

The two men share a warm relationship, which the Japanese leader aims to emphasize as Washington considers tariffs on Japanese auto exports that the Trump administration views as a potential national security threat.

STILL GAPS

Trade is likely to be addressed during a formal meeting on Monday between Trump and Abe, but even a partial trade agreement isn’t expected, said Trade Minister Toshimitsu Motegi after meeting his counterpart, U.S. Trade Representative Robert Lighthizer, in Tokyo on Saturday.

Motegi said there was no discussion of Trump’s decision to declare some auto imports a national security threat.

“We deepened our understanding of each other’s positions on trade. However, we’re not in complete agreement,” Motegi told reporters following the talks. “There are still some gaps. We need to work to narrow our differences.”

The United States is in the middle of an expensive trade war with China, and trade tensions als als simmering with Japan and the European Union.

Trump’s Japan trip is largely ceremonial in nature. The president will become the first foreign leader to be received by new Japanese Emperor Naruhito since he inherited the throne earlier this month; he and Harvard-educated Empress Masako will host an elaborate dinner for the Trumps on Monday night.

A medium-strength earthquake hit eastern Japan, causing buildings to shake in Tokyo, hours before Trump’s arrival. The epicenter was southern Chiba, southeast of the capital, the prefecture where Trump is due to play golf on Sunday.

No tsunami warning was issued and there were no immediate reports of damage.

Source: NewsMax Politics

FILE PHOTO: U.S. Senator Amy Klobuchar speaks in Minneapolis
FILE PHOTO: U.S. Senator Amy Klobuchar declares her candidacy for the 2020 Democratic presidential nomination in Minneapolis, Minnesota, U.S., February 10, 2019. REUTERS/Eric Miller/File Photo

May 25, 2019

By Humeyra Pamuk and Ginger Gibson

WASHINGTON (Reuters) – Democratic presidential hopeful Amy Klobuchar on Saturday called for revamping the Environmental Protection Agency’s (EPA) rules governing how refineries use ethanol in gasoline products, a proposal aimed at the politically critical state of Iowa.

    Part of a series of farm policies that also addressed access to capital and bankruptcy assistance, Klobuchar, a U.S. senator, said the EPA’s waivers that allow refineries to avoid the requirements are “misguided” and said financial institutions are manipulating the biofuels credit trading market.

She called for new compliance standards and additional oversight.

Klobuchar is one of more than 20 Democrats vying for her party’s presidential nomination. If she is going to be successful, her campaign needs to galvanize support in the heavily-agriculture state of Iowa, which holds the first primary contest in the nation. Iowa grows most of the nation’s corn, which is used to produce ethanol.

Klobuchar, who represents Minnesota, another heavily agriculture state which borders Iowa to the north, in the U.S. Senate, has been trailing in polls on the Democratic presidential field.

In a Reuters/Ipsos poll https://tmsnrt.rs/2LeoO8z earlier this month, she garnered support of only 1% of respondents. Former Vice President Joe Biden led the poll, with 29% of Democrats and independents saying they would vote for him in the state nominating contests that begin next winter.

The Renewable Fuel Standard (RFS) program that mandates ethanol use is a more than decade-old regulation aimed at helping farmers and reducing U.S. dependence on oil. The policy has helped farmers by creating a huge market for ethanol and other biofuels, but oil refiners say compliance is prohibitively expensive.

    Under the program, refiners are required to blend biofuels into the nation’s gasoline pool or purchase credits from those that do, but smaller refineries with a capacity of less than 75,000 barrels per day (bpd) can obtain a “hardship waiver” if they prove that compliance with RFS would cause them significant financial strain.

    The Trump administration made extensive use of such waivers in the last two years, saving refiners money but angering the corn lobby, particularly after major companies like Exxon Mobil Corp received exemptions for certain facilities.

    Ethanol mandates have opened a war between the oil and corn industries. The ethanol industry claims the exemptions have been over-used, threatening demand for corn-based ethanol at a time when farmers are already struggling.

    The policy has helped farmers by creating a 15-billion-gallon-a-year market for corn-based ethanol, but oil refiners have increasingly complained about the expense – particularly when prices are high and volatile.

    RFS and the small refinery waiver program have increasingly emerged as one of the key policy areas that several Democratic presidential hopefuls have raised.

    U.S. Senator Elizabeth Warren earlier this month in a letter to the EPA questioned the agency’s decision to grant a small refinery waiver to an oil refinery owned by billionaire Carl Icahn, who is a former adviser to President Donald Trump. She said waivers undermine the renewable program.

(Reporting by Humeyra Pamuk and Ginger Gibson; Editing by Leslie Adler)

Source: OANN

U.S. President Donald Trump and first lady Melania Trump visit Japan
U.S. President Donald Trump and first lady Melania Trump arrive aboard Air Force One at Tokyo Haneda Airport in Tokyo, Japan May 25, 2019. REUTERS/Issei Kato

May 25, 2019

By Jeff Mason

TOKYO (Reuters) – U.S. President Donald Trump urged Japanese business leaders on Saturday to increase their investment in the United States while he chided Japan for having a “substantial edge” on trade that negotiators were trying to even out in a bilateral deal.

Trump arrived in Japan on Saturday for a largely ceremonial state visit meant to showcase strong ties even though trade relations are problematical. In the evening, the Tokyo Sky Tree tower was lit up red, white and blue in Trump’s honor.

Shortly after arriving at the airport to a red-carpet welcome, Trump attended a reception at the residence of U.S. Ambassador William Hagerty that the White House said included Japanese business executives from Toyota, Nissan, Honda, SoftBank and Rakuten.

Trump told the company officials there had never been a better time to invest in the United States and repeated a complaint that the Federal Reserve’s policies had kept U.S. economic growth from reaching its full potential.

With trade talks ongoing, Trump also got in a dig at Japan and said he wanted a deal to address the trade imbalance between the two countries.

“Japan has had a substantial edge for many, many years, but that’s OK, maybe that’s why you like us so much,” he said.

“With this deal we hope to address the trade imbalance, removing barriers to United States exports and ensure fairness and reciprocity in our relationship,” Trump said.

Trade is one of Trump’s signature issues, and encouraging foreign investment in the United States is a hallmark of his trips abroad.

Trump will meet Japanese Prime Minister Shinzo Abe on Sunday for a round of golf, a sumo tournament and a private dinner.

The two men share a warm relationship, which the Japanese leader aims to emphasize as Washington considers tariffs on Japanese auto exports that the Trump administration views as a potential national security threat.

The United States is in the middle of an expensive trade war with China in protest against Beijing’s treatment of U.S. companies, and tensions with Japan and the European Union over trade are simmering.

Trump and Abe are expected to address trade during more formal talks on Monday, but officials have played down the possibility of a deal during the visit. North Korea’s nuclear and missile programs are also likely to be on the agenda.

The trip is largely ceremonial in nature. The president will become the first foreign leader to be received by new Japanese Emperor Naruhito since he inherited the throne earlier this month; he and Harvard-educated Empress Masako will host an elaborate dinner for the Trumps on Monday night.

A medium-strength earthquake hit eastern Japan, causing buildings to shake in Tokyo, hours before Trump’s arrival.

The epicenter was southern Chiba, southeast of the capital, the prefecture where Trump is due to play golf on Sunday.

No tsunami warning was issued and there were no immediate reports of damage.

(Reporting by Jeff Mason; Writing by Jeff Mason and Malcolm Foster; Editing by Nick Macfie)

Source: OANN


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