It looks like the T-Mobile-Sprint $26 billion merger is a go. A judge gave the tech giants the thumbs up, but the California Public Utilities Commission has to sign-off before the deal is in the tech history books.
Huawei continues to make the press loop. It seems the Trump administration wants to keep pressure on Ren Zhengfei’s company while he campaigns. Mr. Trump won’t talk about the phase 2 part of the trade deal until the Meng Wanzhou case gets a ruling sometime this summer. And Mr. Trump continues to apply Pompeo-pressure to countries that want to sign a 5G contract with Huawei, according to the New York Times.
The president’s threats can be nasty, according to Boris Johnson. Boris got a taste of the president’s bad side during a recent phone conversation. Johnson signed a partial 5G deal with Huawei and Trump lost it. Boris wants a tariff-free trade deal with the United States. But now that the president put his foot down during the phone conversation, it’s unclear if Boris will get what wants, according to the Washington Post.
Mr. Johnson’s GDP growth hovers around 1.3%, but GDP growth could drop below 1% unless Boris can get a sweet trade deal from Trump and the EU. The EU told Boris he’ll have to extend the negotiation process if he wants trade-free goods and services, plus a solution to the manufacturing overlap and security issues.
The Feds continue to worry about the coronavirus. U.S. economic growth continues to erode for several reasons. The Chinese feel the economic impact of the virus and that hurts the U.S. import business. Businesses in China remained closed throughout China. Chinese tourism hold will take a bite out of the global economy. Jerome Powell claims economic growth will drop below 2.0% in 2020. But Trump’s new budget keeps using a 3.0% growth to defend his 4.8 trillion plan. Chuck Schumer told the press the president’s budget tears the 2-year budget agreement the House, and the president put in place to pieces.
Another one of Mr. Trump’s close associates during the 2016 campaign is on the way to the slammer. Roger Stone conspiracy maven and Trump fanboy may get seven to nine years if prosecutors get what they want. But Mr. Barr stepped in and reduced the sentence request.
Stone lied to the FBI, and obstructed justice, but a presidential tweet claims the court got it wrong. Mr. Trump thinks Stone is innocent, and his accusers are guilty. The accusers work for his Department of Justice. President Trump insinuated he may pardon stone after he hears the length of the sentence, according to the Wall Street Journal.