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Political Cornflakes: Trump’s ‘Tariff Man’ tweet rattles investors worried about trade war with China

President Donald Trump listens to China's President Xi Jinping speak during their bilateral meeting at the G20 Summit, Saturday, Dec. 1, 2018 in Buenos Aires, Argentina. (AP Photo/Pablo Martinez Monsivais)

Days after the U.S. and China struck an apparent trade truce, President Donald Trump threatened the nation with new tariffs, sending the stock markets into a downturn. Trump and Chinese President Xi Jinping on Saturday had committed to no new tariffs for 90 days as they tried to craft a broader trade agreement. But Tuesday, Trump called himself “Tariff Man” in a string of tweets that threw the accord with Beijing into doubt. Wary investors responded with a sell-off in stocks, concerned that a standoff between the two economic powers will slow global growth. “They actually want to see a positive resolution where the problem is solved so they don’t have to worry about it,” one investment strategist said. [NYTimes]

Happy Wednesday.

Topping the news: U.S. Rep. Chris Stewart, R-Utah, on Tuesday defended President Donald Trump’s support for Saudi Arabia, despite CIA findings that the country’s crown prince was complicit in the death of dissident journalist Jamal Khashoggi. Stewart explained during a CNN appearance that “journalists disappear” all over the world. [Trib][KUER][CNN]

-> The Salt Lake City Council voted unanimously on Tuesday to regulate the inland port being built on the west side of the city. The new provisions will promote light industry by barring heavier uses such as chemical manufacturing and mining and require companies to complete environmental mitigation plans. [Trib]

-> On Tuesday the U.S. Supreme Court asked the state of Utah to respond to the Utah Republican Party’s petition for a hearing. The party is trying to overturn a law which allows candidates to qualify for the ballot through signature collection or through the caucus-convention system. [Trib]

Tweets of the Day: From @KaraRBrown: “Bernie Sanders is too old to run for president. Nancy Pelosi should not be president. Joe Biden should not be president. That was extremely easy.”

-> From @HotPockets4All: “HELP US TARIFF MAN, YOU’RE OUR...*checks notes*...ONLY HOPE?.”

-> From @juliacarriew: “VIOLENCE BAGUETTES VIOLENCE.”

-> From @AdamSerwer: “‘You can overcome gerrymandering with turnout’ was always a bad take.”

Happy Birthday: to Salt Lake County Mayor Ben McAdams.

In other news: Utah lawmakers passed a medical marijuana compromise bill — read about how it differs from Proposition 2 and what organizations are saying in response to its approval. [Fox13][KUTV][ABC4]

-> Utah’s state and local officials are urging generous Utahns to “give smartly” this holiday season and go through established charitable groups rather than try to help the homeless individually. Attempts by small groups to distribute food has conflicted with large scale operations to feed the needy, they said. Officials also urged Utahns to spread out their giving throughout the year rather than concentrating it around the holiday season. [Trib][DNews][KUTV][ABC4]

-> Utah Sen. Gene Davis is taking heat on social media as the only Democrat to vote in support of the cannabis act that replaced Proposition 2. Some local party members are calling to replace the longtime legislator. [Trib]

-> The Salt Lake County Council unanimously passed a roughly $1.5 billion budget for 2019 on Tuesday, a plan designed to enhance the Oxbow jail and invest in law enforcement without raising any taxes. [Trib]

-> Though Utah’s population grew by an estimated 52,000 this year, officials say that population growth has actually slowed from a combination of fewer births and a deceleration of immigration. [Trib]

-> Five candidates have applied to replace deceased North Ogden Mayor Brent Taylor, who died last month while serving in the military. The official selection of the city’s mayor will happen on Jan. 8. [KUTV]

-> A new report on mental health among military veterans takes a look at the factors that can lead to suicides. [ABC4]

-> Columnist Robert Gehrke writes that neither Proposition 2 nor the new medical cannabis act is perfect. Still, the passage of a medical marijuana program in Utah demonstrates tremendous progress, when only nine months ago, lawmakers weren’t even considering such a cannabis bill. [Trib]

Nationally: Individuals from all different backgrounds came together Tuesday to honor former President George H.W. Bush as he lay in state in the U.S. Capitol Rotunda. [WaPostviaTrib][NYTimes][CNN][Fox]

-> President Trump’s former national security advisor, Michael Flynn, was so cooperative and helpful to the Russia investigation that special counsel Robert Mueller has suggested he should not do any prison time. [APviaTrib][NYTimes][BBC][CNN][Fox][WSJ]

-> Schools across the U.S. have been required or permitted by state governments to prominently post the motto “In God We Trust." One Arkansas state representative said the slogan reflects an essential part of what it means to be American. [WaPostviaTrib]

-> U.S. troops deployed to the U.S.-Mexico border will remain there through the New Year. [NYTimes]

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-- Bethany Rodgers and Cara MacDonald

https://twitter.com/BethRodgersSLT and Twitter.com/carammacdonald