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Deep State Daily: Qatar Quits OPEC, Trump Seeks Halt in Arms Race with Russia & China

December 3, 2018

Stories We’re Watching

Qatar to Quit OPEC amid Tension with Saudi Arabia

Qatar has announced its withdrawal from the Organization of Petroleum Exporting Countries (OPEC), effective January 2019. Qatar’s national oil company, Qatar Petroleum, tweeted plans to increase natural gas production. The announcement comes just days before OPEC’s meeting in Vienna later this week. Industry and political analysts point to Qatar’s strained relationship with OPEC founding member Saudi Arabia, and warn that the move risks further degrading OPEC’s market power.

Macron Responds to Paris’s Yellow Vest Protesters

Yesterday President Emmanuel Macron returned to France from the G20 summit meeting amid the violent ‘yellow vest’ protests in Paris. President Macron inspected damage from the anti-government demonstrators who have protested increases in gasoline tax and declining living standards. As the protests turned violent, riot police fired tear gas and rubber bullets. Analysts say this is the Macron administration’s most serious crisis yet. A government spokesperson said the government might declare a state of emergency to prevent further civil unrest.

Market Rallies as US & China Call Truce in Trade War

World markets surged today after Saturday’s much-anticipated dinner between Presidents Xi and Trump, leaders of the world’s two largest economies. President Trump agreed to a 90-day truce on imposing 25% tariffs, and President Xi agreed to increase imports of US agricultural goods. Trade and market analysts are watching closely the next 90 days since further negotiations are set to include intellectual property protection, non-tariff barriers, and cyber theft. Insiders caution increased market turbulence should those negotiations encounter setbacks.

Trump Seeks Halt in Arms Race with Russia & China

Earlier today President Trump tweeted “I am certain that, at some time in the future, President Xi and I, together with President Putin of Russia, will start talking about a meaningful halt to what has become a major and uncontrollable Arms Race”. The tweet comes after the president returned from the G20 summit, where he met with Presidents Xi and Putin. Earlier this year, President Trump authorized the $716B 2019 Defense Authorization Act which declared that “long-term strategic competition with China is a principal priority” of the US.

Israeli Police Recommend Indicting Netanyahu in Bribery Case for the Third Time

Israeli Prime Minister Benjamin Netanyahu arrived in Brussels earlier today for talks with US Secretary of State Mike Pompeo. Insiders say the talks centered around responses to Iranian aggression. The meeting comes as Israeli Police recommend for the third time this year that PM Netanyahu and his wife be indicted for fraud and for taking bribes. Analysts warn that the case is likely to create internal chaos as some speculate that Netanyahu may try to continue to serve as prime minister during the trial.

Mexico’s New President Vows to Work with US & Canada on Immigration

Earlier today Mexico’s new president Andres Manuel Lopez Obrador vowed closer cooperation with the US and Canada on immigration. Obrador was inaugurated as Mexico’s fifth democratically elected president on Saturday. In his first official act, he signed an agreement with El Salvador, Guatemala and Honduras to create a development plan. The inauguration came just one day after his predecessor signed a $1T trade deal with the US and Canada at the G20 summit. Policy analysts caution that Friday’s singing was ceremonial since the deal still has yet to be approved by the US congress, which isn’t expected to happen until the next legislative session in January 2019.


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