United States

Authored by Patrick Buchanan via Buchanan.org,

“Why would I call China a currency manipulator when they are working with us on the North Korean problem?” tweeted President Donald Trump on Easter Sunday.

Earlier, after discovering “great chemistry” with Chinese President Xi Jinping over “the most beautiful piece of chocolate cake” at Mar-a-Lago, Trump had confided, “I explained … that a trade deal with the U.S. will be far better for them if they solve the North Korean problem!”

President Trump will sign an executive order on Tuesday that aims to overhaul the H1-B visa program used by tech companies to bring high-skilled workers to the U.S., directing a government-wide review aimed at putting new teeth back into decades-old “Buy American” and “Hire American” directives.

As The Hill reports, Trump will travel to a manufacturing plant in Kenosha, Wis., to sign the order, which the administration says will make it more difficult for U.S. companies to look overseas for workers to fill middle-income jobs.

Just when a few hours had passed without any escalation around the Korean Peninsula, The Guardian reports that the US military is considering shooting down North Korean missile tests as a show of strength to Pyongyang according to two sources briefed on the plans.

As the USS Carl Vinson heads towards the peninsula, along with two oither carriers, the Pentagon is looking for ways short of war to pressure North Korea into denuclearization, particularly if Pyongyang goes forward with an anticipated sixth nuclear test.

Having held on to hope that the reflationary impulse would sustain the adverse series of events and geopolitical shocks over the past two weeks, RBC's head of cross-asset strategy Charlie McElligott is ready to throw in the towel, driven by what we have been pounding the table on for the past three months, namely the fading inflationary impulse out of China, manifesting itself most vividly in the recent crash in various commodities, and iron ore in particular, which has tumbled 30% from recent highs.

European stocks slide as traders returned from a 4-day Easter holidays, Asian equities likewise drop pressured by the ongoing rout in iron ore, while U.S. stock-index futures point to a lower open. British markets were roiled after U.K. Prime Minister Theresa May said she would seek an early election on June 8, in a move aimed at strengthening her hand going into Brexit talks; the FTSE 100 dropped 1.3%, on the news, hitting the lowest since Feb. 24 while 10Y Gilts dropped below 1% for the first time since October.