Can we pause for a moment to consider what has transpired in the last seven days?
TRADE: Earlier this week, the Trump administration announced it had reached an agreement with both Mexico and Canada to revise and rebrand the North America Free Trade Agreement as the United States Mexico Canada Agreement. This announcement fulfills one of President Trump’s key pledges on the campaign trail while benefiting constituencies in important states such as Michigan (autos) and Wisconsin and Minnesota (dairy). Trump also renegotiated the Korea Free Trade Agreement and has made progress with the Europeans as well as the Japanese.
ECONOMY: The Trump Bump continues, with Friday bringing news that unemployment has reached its lowest level since 1969. Consumer confidence is high, and data from the manufacturing and service sectors indicate continued growth. No president is responsible for the state of the American economy. But fiscal and regulatory policy help. And presidents take credit or receive blame in any event.
JUDGES: Susan Collins’s announcement that she will vote to confirm Judge Brett Kavanaugh practically guarantees he will be seated on the Supreme Court in the coming days. Kavanaugh’s elevation will secure a five-vote majority of originalist and textualist judges on the high court for the first time in modern memory. Such a transformation of the federal judiciary has been a goal of Republican presidents since Ronald Reagan. The fact that it will be Donald J. Trump who will cement this victory is no small feat. On the contrary, it may turn out to be his greatest and longest-lasting achievement.