cnbc--2020-01-18--New evidence shows Nunes aide communicated with Parnas on Ukraine

New evidence released Friday by House Democrats shows Derek Harvey , a former White House official and top aide to GOP Rep. Devin Nunes , communicated extensively with Lev Parnas about both Ukraine aid and setting up Skype interviews with former Ukrainian prosecutors .
The messages show that Harvey was far more involved than previously known in what appears to be a robust effort by Republicans on the House Intelligence Committee to investigate Ukraine-related matters .
The text messages between Harvey and Parnas — who is the indicted associate of President Donald Trump 's personal attorney Rudy Giuliani , and @ @ @ @ @ @ @ administration officials were aware of an alleged plan to get Ukraine to announce investigations into former Vice President Joe Biden and his son — start in February 2019 and continue into May .
An alleged effort by Trump to seek the Ukrainian announcement of investigations is central to articles of impeachment filed against Trump , which allege the president abused the power of his office for personal political gain in the 2020 election .
The documents released Friday include messages between Parnas and Harvey arranging times to meet and to speak by phone @ @ @ @ @ @ @ Ambassador Marie Yovanovitch and alleged Ukrainian meddling in the 2016 election , claims that have been called an unfounded conspiracy theory .
Read more from NBC News : Trump may discredit an impeachment trial designed to acquit him Trump lawyer dismisses photos of the president with Lev Parnas , other evidence L.A. teachers sue Delta after jet fuel spill over schools , playgrounds On April 10 , 2019 , Harvey sent his boss Nunes ' contact information to Parnas , according to the documents released Friday .
That is two days before call @ @ @ @ @ @ @ and Nunes spoke for more than eight minutes .
Also in April , Parnas sent Harvey websites with biographical information about former Prosecutor General Viktor Shokin , with the message : `` This is the general prosecutor that got fired by Biden . ''
He also sends information about Yuriy Lutsenko , Shokin 's replacement , who also later made allegations about Biden and about Yovanovitch , according to the documents released Friday .
Harvey suggests holding one of the interviews a day later to allow himself `` to prep a staff lawyer @ @ @ @ @ @ @ for `` suggested line of questions '' for the interviewee .
At one point , on April 19 , Harvey tells Parnas that he believes `` we are best served by sending the official letter and receiving documentation before any more interviews . ''
Ultimately , both Lutsenko and Shokin were interviewed by Rudy Giuliani , including on his most recent trip to Europe , the documents state .
Harvey also refers repeatedly to former The Hill columnist John Solomon , asking Parnas , `` Any documents for us or are you going @ @ @ @ @ @ @ In an April 12 text , Harvey says , according tot he documents released Friday , that `` Solomon needs to get me the material , '' although it 's unclear what material he 's referring to .
It 's unclear exactly why Harvey was involved in the interviews , but during the House impeachment hearings , Nunes suggested that Republicans on the House Intelligence Committee had been pursuing their own investigation into Ukraine 's actions during the 2016 election .
In one of their first texts , in late March , Harvey @ @ @ @ @ @ @ Harvey says is based on State Department sources .
He suggests that the Obama administration doubled aid to Ukraine from 2015 to 2016 because `` their hunch '' was that the money would `` get grafted '' by Ukrainian officials , who in turn would give money to the Clinton Foundation and other `` social justice causes . ''
He mentions to Parnas `` rumors '' that Ukraine 's government coordinated with the Clinton campaign and the FBI `` to dig up dirt on Manafort in 2016 . ''
`` If the increase @ @ @ @ @ @ @ 's a threat to pull , '' Harvey wrote to Parnas on March 29 .
Harvey 's boss , Nunes , is the top Republican on the House Intelligence Committee .
After House Democrats obtained phone records showing calls between him and Parnas , he initially said he did n't remember speaking to Parnas and called it unlikely .
But more recently Nunes has revised his story and says he does remember talking to Parnas , but says the call was `` odd '' and that he directed Parnas to talk to his @ @ @ @ @ @ @ Harvey responded Friday night to a request for comment .
Parnas and another Giuliani associate , Igor Fruman , have been charged with making $ 325,000 in illegal straw donations to a super PAC supporting President Donald Trump , as well as with giving $ 15,000 to a second committee , amid a flurry of political donations to help them advance the interests of a Ukrainian government official and a Russian national seeking to break into the cannabis industry .
They have pleaded not guilty .

New evidence released Friday by House Democrats shows Derek Harvey, a former White House official and top aide to GOP Rep. Devin Nunes, communicated extensively with Lev Parnas about both Ukraine aid and setting up Skype interviews with former Ukrainian prosecutors.
The messages show that Harvey was far more involved than previously known in what appears to be a robust effort by Republicans on the House Intelligence Committee to investigate Ukraine-related matters.
The text messages between Harvey and Parnas — who is the indicted associate of President Donald Trump's personal attorney Rudy Giuliani, and who has claimed that Trump and other administration officials were aware of an alleged plan to get Ukraine to announce investigations into former Vice President Joe Biden and his son — start in February 2019 and continue into May.
An alleged effort by Trump to seek the Ukrainian announcement of investigations is central to articles of impeachment filed against Trump, which allege the president abused the power of his office for personal political gain in the 2020 election.
The documents released Friday include messages between Parnas and Harvey arranging times to meet and to speak by phone, and sharing articles and tweets about Ambassador Marie Yovanovitch and alleged Ukrainian meddling in the 2016 election, claims that have been called an unfounded conspiracy theory.
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On April 10, 2019, Harvey sent his boss Nunes' contact information to Parnas, according to the documents released Friday. That is two days before call records obtained by the House show Parnas and Nunes spoke for more than eight minutes.
Also in April, Parnas sent Harvey websites with biographical information about former Prosecutor General Viktor Shokin, with the message: "This is the general prosecutor that got fired by Biden." He also sends information about Yuriy Lutsenko, Shokin's replacement, who also later made allegations about Biden and about Yovanovitch, according to the documents released Friday.
Harvey suggests holding one of the interviews a day later to allow himself "to prep a staff lawyer to assist." He asks Parnas for "suggested line of questions" for the interviewee.
At one point, on April 19, Harvey tells Parnas that he believes "we are best served by sending the official letter and receiving documentation before any more interviews." Ultimately, both Lutsenko and Shokin were interviewed by Rudy Giuliani, including on his most recent trip to Europe, the documents state.
Harvey also refers repeatedly to former The Hill columnist John Solomon, asking Parnas, "Any documents for us or are you going to keep working through Solomon?" In an April 12 text, Harvey says, according tot he documents released Friday, that "Solomon needs to get me the material," although it's unclear what material he's referring to.
It's unclear exactly why Harvey was involved in the interviews, but during the House impeachment hearings, Nunes suggested that Republicans on the House Intelligence Committee had been pursuing their own investigation into Ukraine's actions during the 2016 election.
In one of their first texts, in late March, Harvey floats a theory to Parnas, which Harvey says is based on State Department sources. He suggests that the Obama administration doubled aid to Ukraine from 2015 to 2016 because "their hunch" was that the money would "get grafted" by Ukrainian officials, who in turn would give money to the Clinton Foundation and other "social justice causes." He mentions to Parnas "rumors" that Ukraine's government coordinated with the Clinton campaign and the FBI "to dig up dirt on Manafort in 2016."
"If the increase in aid is accurate, then there's a threat to pull," Harvey wrote to Parnas on March 29.
Harvey's boss, Nunes, is the top Republican on the House Intelligence Committee. After House Democrats obtained phone records showing calls between him and Parnas, he initially said he didn't remember speaking to Parnas and called it unlikely. But more recently Nunes has revised his story and says he does remember talking to Parnas, but says the call was "odd" and that he directed Parnas to talk to his staff.
Neither Nunes' office nor Harvey responded Friday night to a request for comment.
Parnas and another Giuliani associate, Igor Fruman, have been charged with making $325,000 in illegal straw donations to a super PAC supporting President Donald Trump, as well as with giving $15,000 to a second committee, amid a flurry of political donations to help them advance the interests of a Ukrainian government official and a Russian national seeking to break into the cannabis industry. They have pleaded not guilty.


cnbc--2020-01-19--The 2020 Democratic field is outraising Trump by a huge margin — that didn't happen to Obama or Bush

Democratic presidential hopefuls Massachusetts Senator Elizabeth Warren ( L ) , former Vice President Joe Biden ( C ) and Vermont Senator Bernie Sanders participate of the seventh Democratic primary debate of the 2020 presidential campaign season co-hosted by CNN and the Des Moines Register at the Drake University campus in Des Moines , Iowa on January 14 , 2020 .
President Donald Trump has one more distinction he can add to an unprecedented White House tenure .
The president has blown past individual Democratic presidential campaigns in fundraising for his 2020 reelection bid .
But the crowded primary field @ @ @ @ @ @ @ haul , according to a CNBC analysis of Federal Election Commission filings and campaign statements .
No incumbent president this century has been so thoroughly outraised by a field of challengers in the year before a reelection contest .
The main Republican challengers to President Barack Obama in 2012 barely took in more than the incumbent in 2011 .
Meanwhile , President George W. Bush narrowly topped his challengers in fundraising in 2003 , the year before he won reelection in 2004 .
`` The field is trouncing Trump in fundraising and that @ @ @ @ @ @ @ , director of research and strategy at the Center for Responsive Politics .
The cash edge reflects a Democratic voter base energized and motivated since Trump 's 2016 election , Bryner said .
She added that the pace of donations could reflect a dislike of Trump more than a fondness for any particular candidates — though Democratic contender and prolific fundraiser Sen. Bernie Sanders has a famously devoted following .
Trump still had a fundraising advantage over any of his potential challengers entering 2020 .
His campaign said it raised $ 46 million @ @ @ @ @ @ @ Sanders ' $ 34.5 million , the biggest haul in the Democratic field .
The Trump campaign has had time to accumulate cash while rivals in a jammed Democratic primary compete for donors .
It had more than $ 100 million in the bank at the end of 2019 .
Most Democratic campaigns will not announce cash on hand numbers until the end of the month .
The fundraising figures for Trump , his two predecessors and their challengers in the year prior to their reelection bids are listed and visualized below .
@ @ @ @ @ @ @ other campaign committees — and contributions from individuals are listed separately .

Democratic presidential hopefuls Massachusetts Senator Elizabeth Warren (L), former Vice President Joe Biden (C) and Vermont Senator Bernie Sanders participate of the seventh Democratic primary debate of the 2020 presidential campaign season co-hosted by CNN and the Des Moines Register at the Drake University campus in Des Moines, Iowa on January 14, 2020.
President Donald Trump has one more distinction he can add to an unprecedented White House tenure.
The president has blown past individual Democratic presidential campaigns in fundraising for his 2020 reelection bid. But the crowded primary field together more than tripled his 2019 cash haul, according to a CNBC analysis of Federal Election Commission filings and campaign statements.
No incumbent president this century has been so thoroughly outraised by a field of challengers in the year before a reelection contest. The main Republican challengers to President Barack Obama in 2012 barely took in more than the incumbent in 2011.
Meanwhile, President George W. Bush narrowly topped his challengers in fundraising in 2003, the year before he won reelection in 2004.
"The field is trouncing Trump in fundraising and that is unprecedented," said Sarah Bryner, director of research and strategy at the Center for Responsive Politics.
The cash edge reflects a Democratic voter base energized and motivated since Trump's 2016 election, Bryner said. She added that the pace of donations could reflect a dislike of Trump more than a fondness for any particular candidates — though Democratic contender and prolific fundraiser Sen. Bernie Sanders has a famously devoted following.
Trump still had a fundraising advantage over any of his potential challengers entering 2020. His campaign said it raised $46 million in the fourth quarter, higher than Sanders' $34.5 million, the biggest haul in the Democratic field.
The Trump campaign has had time to accumulate cash while rivals in a jammed Democratic primary compete for donors. It had more than $100 million in the bank at the end of 2019. Most Democratic campaigns will not announce cash on hand numbers until the end of the month.
The fundraising figures for Trump, his two predecessors and their challengers in the year prior to their reelection bids are listed and visualized below. Total receipts — which include transfers from other campaign committees — and contributions from individuals are listed separately.


cnbc--2020-01-18--Trump lawyers slam impeachment as attempt to overturn election as House calls him 'threat to nation'

President Donald Trump 's legal team accused House Democrats of trying to overturn the results of the 2016 election in a filing that lays out the White House 's formal response to the two articles of impeachment passed last month .
Trump 's lawyers slammed impeachment as a `` dangerous attack on the right of the American people to freely choose their president '' ahead of the election this November .
`` This is a brazen and unlawful attempt to overturn the results of the 2016 election and interfere with the 2020 election , now just months away , '' @ @ @ @ @ @ @ its filing Saturday .
The filing was a response to a formal summons issued by the Senate notifying Trump of his impending trial and the charges against him .
Supreme Court Chief Justice John Roberts , who will preside over the trial , administered an oath to senators on Thursday to do `` impartial justice '' with proceedings set to get underway Tuesday .
The House of Representatives , for its part , filed a brief Saturday outlining its case against Trump and called him an `` ongoing threat to the nation .
@ @ @ @ @ @ @ his oath to faithfully execute the nation 's laws and betraying the public 's trust .
`` President Trump 's misconduct presents a danger to our democratic processes , our national security , and our commitment to the rule of law , '' the House filing states .
`` He must be removed from office . ''
The House , after a three month investigation , voted on Dec. 18 largely along party lines to impeach Trump on charges of abuse of power and obstruction of Congress .
Trump is accused of abusing @ @ @ @ @ @ @ a foreign nation in the 2020 presidential election .
He allegedly did this by freezing foreign aid to Ukraine in order to pressure its government to open political investigations into former Vice President Joe Biden , a leading contender for the Democratic presidential nomination .
The president is also accused of obstructing Congress during its investigation by directing the White House to defy lawful subpoenas for witness testimony and documents .
Witness testimony has become a major bone of partisan contention between the Democrat-led House , which has the power to impeach , @ @ @ @ @ @ @ trial .
Though Trump was impeached in December , House Speaker Nancy Pelosi waited weeks to transmit the two articles of impeachment to the Senate , as she sought to pressure Senate Majority Leader Mitch McConnell , R-Ky. , to call additional witnesses during Trump 's trial .
McConnell made no concessions , but several Republican senators have indicated that they are open to supporting further testimony .
Trump is the third president in U.S. history to face an impeachment trial .
His defense team at the trial will include Ken Starr , @ @ @ @ @ @ @ 1990s that resulted in the impeachment of President Bill Clinton in 1998 .

President Donald Trump's legal team accused House Democrats of trying to overturn the results of the 2016 election in a filing that lays out the White House's formal response to the two articles of impeachment passed last month.
Trump's lawyers slammed impeachment as a "dangerous attack on the right of the American people to freely choose their president" ahead of the election this November.
"This is a brazen and unlawful attempt to overturn the results of the 2016 election and interfere with the 2020 election, now just months away," the president's legal team said in its filing Saturday.
The filing was a response to a formal summons issued by the Senate notifying Trump of his impending trial and the charges against him. Supreme Court Chief Justice John Roberts, who will preside over the trial, administered an oath to senators on Thursday to do "impartial justice" with proceedings set to get underway Tuesday.
The House of Representatives, for its part, filed a brief Saturday outlining its case against Trump and called him an "ongoing threat to the nation." The brief accuses Trump of abandoning his oath to faithfully execute the nation's laws and betraying the public's trust.
"President Trump's misconduct presents a danger to our democratic processes, our national security, and our commitment to the rule of law," the House filing states. "He must be removed from office."
The House, after a three month investigation, voted on Dec. 18 largely along party lines to impeach Trump on charges of abuse of power and obstruction of Congress.
Trump is accused of abusing his power by soliciting the interference of a foreign nation in the 2020 presidential election. He allegedly did this by freezing foreign aid to Ukraine in order to pressure its government to open political investigations into former Vice President Joe Biden, a leading contender for the Democratic presidential nomination.
The president is also accused of obstructing Congress during its investigation by directing the White House to defy lawful subpoenas for witness testimony and documents. Witness testimony has become a major bone of partisan contention between the Democrat-led House, which has the power to impeach, and Republican-led Senate, which runs the trial.
Though Trump was impeached in December, House Speaker Nancy Pelosi waited weeks to transmit the two articles of impeachment to the Senate, as she sought to pressure Senate Majority Leader Mitch McConnell, R-Ky., to call additional witnesses during Trump's trial. McConnell made no concessions, but several Republican senators have indicated that they are open to supporting further testimony.
Trump is the third president in U.S. history to face an impeachment trial. His defense team at the trial will include Ken Starr, who led the Whitewater investigation in the 1990s that resulted in the impeachment of President Bill Clinton in 1998.


cnbc--2020-01-19--Dershowitz: Trump shouldn't be removed from office even if he is guilty of House charges

Famed defense attorney Alan Dershowitz , who recently signed on to assist President Donald Trump 's impeachment legal team , said Sunday that Trump should not be removed from office even if he is guilty of everything the House has accused him of in the articles of impeachment .
`` Congress was wrong in impeaching for these two articles , '' he told ABC 's `` This Week . ''
`` They are not articles of impeachment .
The articles of impeachment are two non-criminal actions . ''
Host George Stephanopoulos then asked , `` Is it your position that @ @ @ @ @ @ @ if all the evidence and arguments laid out by the House are accepted as fact ? ''
Dershowitz responded , `` When you have somebody who , for example , is indicted for a crime — let 's assume you have a lot of evidence — but the grand jury simply indicts for something that 's not a crime , and that 's what happened here , you have a lot of evidence , disputed evidence , that could go both ways , but the vote was to impeach on abuse of power @ @ @ @ @ @ @ criteria for impeachment , and obstruction of Congress . ''
Dershowitz was then asked if he agreed with a brief filed by Trump 's attorneys on Saturday , which asserted the president did nothing wrong by pushing Ukraine to investigate former Vice President Joe Biden , his son Hunter Biden and Democrats .
`` I did n't sign that brief .
I did n't even see the brief until after it was filed .
That 's not part of my mandate , '' Dershowitz said .
`` My mandate is to determine what @ @ @ @ @ @ @ . ''
Pressed again , Dershowitz said , `` There 's a big difference between what 's OK — what 's OK determines ... who you vote for . ''
`` I 'm a liberal Democrat who 's been critical of many of the policies of the president , '' he continued .
`` I 'm here as a constitutional lawyer , a lawyer who 's taught for 50 years constitutional criminal procedure at Harvard , taught a course on impeachment , taught a course on constitutional litigation . ''
The president has @ @ @ @ @ @ @ did nothing wrong with respect to Ukraine , last week : `` I JUST GOT IMPEACHED FOR MAKING A PERFECT PHONE CALL ! ''
Democratic House managers in a brief filed Saturday called the president 's behavior `` the Framers ' worst nightmare '' and a `` danger to our democratic processes . ''
In response , the White House said the two articles of impeachment against Trump are a `` dangerous attack on the right of the American people to freely choose their President . ''
Asked about Dershowitz 's assessment , @ @ @ @ @ @ @ `` This Week '' that he agrees with the Harvard law professor `` at this point . ''
`` But I would still wait and hear the arguments , '' Shelby said .
`` I have n't focused on it .
Professor Dershowitz is an esteemed scholar of constitutional law .
And he 's followed this and he 's outspoken , and a lot of people follow him .
We have a lot of respect for a lot of his opinions .
But ultimately , we will make that decision in the Senate @ @ @ @ @ @ @ on Dershowitz 's analysis .
`` Well , that 's the argument I suppose you have to make if the facts are so dead set against you .
If the president has admitted to the wrongdoing , his chief of staff has confessed to the wrongdoing , his European Union ambassador has confessed to the same quid pro quo , you have to rely on an argument that even if he abused his office in this horrendous way , that it 's not impeachable .
You had to go so far out of @ @ @ @ @ @ @ that argument , you had to leave the realm of constitutional law scholars and go to criminal defense lawyers , '' House Intelligence Committee Adam Schiff , D-Calif. , told `` This Week , '' adding that Dershowitz 's interpretation `` would have appalled the founders . ''
`` And I do n't know what signal we 're sending to future presidents if that 's the new standard in America , where you can openly solicit foreign interference , where you can hold up taxpayer dollars that , in fact , the Government @ @ @ @ @ @ @ so in order to extort , to leverage foreign interference in our elections , '' he said .
`` This is preposterous that this would not be an impeachable offense , that this standard in America is now that presidents could abuse their power to help in elections . ''
And on CBS 's `` Face the Nation , '' House Judiciary Committee Chairman Jerry Nadler , D-N.Y. , said he was `` surprised '' to see Dershowitz 's assessment .
Is it your position that President Trump should not be impeached even @ @ @ @ @ @ @ out by the House are accepted as fact ?

Famed defense attorney Alan Dershowitz, who recently signed on to assist President Donald Trump's impeachment legal team, said Sunday that Trump should not be removed from office even if he is guilty of everything the House has accused him of in the articles of impeachment.
"Congress was wrong in impeaching for these two articles," he told ABC's "This Week." "They are not articles of impeachment. The articles of impeachment are two non-criminal actions."
Host George Stephanopoulos then asked, "Is it your position that President Trump should not be impeached even if all the evidence and arguments laid out by the House are accepted as fact?"
Dershowitz responded, "When you have somebody who, for example, is indicted for a crime — let's assume you have a lot of evidence — but the grand jury simply indicts for something that's not a crime, and that's what happened here, you have a lot of evidence, disputed evidence, that could go both ways, but the vote was to impeach on abuse of power, which is not within the constitutional criteria for impeachment, and obstruction of Congress."
Dershowitz was then asked if he agreed with a brief filed by Trump's attorneys on Saturday, which asserted the president did nothing wrong by pushing Ukraine to investigate former Vice President Joe Biden, his son Hunter Biden and Democrats.
"I didn't sign that brief. I didn't even see the brief until after it was filed. That's not part of my mandate," Dershowitz said. "My mandate is to determine what is a constitutionally authorized criteria for impeachment."
Pressed again, Dershowitz said, "There's a big difference between what's OK — what's OK determines ... who you vote for."
"I'm a liberal Democrat who's been critical of many of the policies of the president," he continued. "I'm here as a constitutional lawyer, a lawyer who's taught for 50 years constitutional criminal procedure at Harvard, taught a course on impeachment, taught a course on constitutional litigation."
The president has been steadfast in his insistence that he did nothing wrong with respect to Ukraine, tweeting last week: "I JUST GOT IMPEACHED FOR MAKING A PERFECT PHONE CALL!"
Democratic House managers in a brief filed Saturday called the president's behavior "the Framers' worst nightmare" and a "danger to our democratic processes." In response, the White House said the two articles of impeachment against Trump are a "dangerous attack on the right of the American people to freely choose their President."
Asked about Dershowitz's assessment, Sen. Richard Shelby, R-Ala., told "This Week" that he agrees with the Harvard law professor "at this point."
"But I would still wait and hear the arguments," Shelby said. "I haven't focused on it. Professor Dershowitz is an esteemed scholar of constitutional law. And he's followed this and he's outspoken, and a lot of people follow him. We have a lot of respect for a lot of his opinions. But ultimately, we will make that decision in the Senate."
Democrats had a different take on Dershowitz's analysis.
"Well, that's the argument I suppose you have to make if the facts are so dead set against you. If the president has admitted to the wrongdoing, his chief of staff has confessed to the wrongdoing, his European Union ambassador has confessed to the same quid pro quo, you have to rely on an argument that even if he abused his office in this horrendous way, that it's not impeachable. You had to go so far out of the mainstream to find someone to make that argument, you had to leave the realm of constitutional law scholars and go to criminal defense lawyers," House Intelligence Committee Adam Schiff, D-Calif., told "This Week," adding that Dershowitz's interpretation "would have appalled the founders."
Sen. Cory Booker, D-N.J., called Dershowitz's remarks "stunning."
"And I don't know what signal we're sending to future presidents if that's the new standard in America, where you can openly solicit foreign interference, where you can hold up taxpayer dollars that, in fact, the Government Accountability Office says was illegal to do so in order to extort, to leverage foreign interference in our elections," he said. "This is preposterous that this would not be an impeachable offense, that this standard in America is now that presidents could abuse their power to help in elections."
And on CBS's "Face the Nation," House Judiciary Committee Chairman Jerry Nadler, D-N.Y., said he was "surprised" to see Dershowitz's assessment.
"That's simply ignorance," Nadler, a House impeachment manager, said.
Is it your position that President Trump should not be impeached even if all the evidence and arguments laid out by the House are accepted as fact?


cnbc--2020-01-18--Davos elite back corporate social responsibility, but 'their words are bigger than their actions'

The world 's most influential executives will soon swarm the World Economic Forum in Davos , Switzerland , where they will embrace the idea that corporations no longer exist simply to funnel profits into the pockets of shareholders .
They will talk about how their companies have tackled societal issues — from diversity to climate change .
Powerful politicians , potentially including President Donald Trump , will also be at the five-day event , which begins Tuesday , laying out the way they have held companies accountable , all while populist rhetoric remains a heated topic during this year 's @ @ @ @ @ @ @ the often-snowy Swiss village , stakeholder capitalism — a movement that redefines a company 's purpose from serving only its shareholders to all stakeholders , including customers and communities — will be the dominant theme .
It will be the first Davos meeting since the Business Roundtable , a group representing the CEOs of nearly 200 companies , embraced stakeholder capitalism as its new purpose in August .
But conversations with corporate advisors , investors and experts paint a more nuanced picture of how corporate America is taking on the issues .
It @ @ @ @ @ @ @ to force corporate change is dwarfed by state governments .
And the biggest driver of change originates from where it always has — investors .
As some investors have shifted their focus to the public good , so have companies .
Yet there will be limits to change as long as the largest investors care most about making money .
`` So far , at most companies , their words are bigger than their actions , '' said Erik Gordon , a professor at the University of Michigan 's Ross School of Business @ @ @ @ @ @ @ politicians in an election year , are n't as big a force as socially activist stockholders are .
Stockholders like endowments and pension funds , who are more interested in stakeholder effects than are stockholders who look solely for returns , are the ones the corporations can not ignore . ''
Setting the stage for Davos and corporate America over the past few years is a generation for which social and economic issues have become nearly unavoidable .
Issues like climate change are more tangible , due to disasters like the wildfires in @ @ @ @ @ @ @ young urbanites as the problem swells in cities like Seattle and San Francisco .
Income inequality is rising as technology and globalization alter the employment landscape .
With that , public pension funds are asking more questions — like whether private equity contributed to the demise of Toys R Us .
Shareholder advocacy groups like As You Sow are pushing for shareholder votes on issues including climate change and human rights .
The country 's biggest investors have joined in as well .
Powerful names like ValueAct , Jana Partners and BlackRock have @ @ @ @ @ @ @ social and governance causes , known as ESG .
The funds espouse the idea that investments that line up with public values are rewarded by the market place .
Investing in alternative energy , for example , could be rewarded as countries move toward shifting their power standards .
But for funds like BlackRock , profit will always be the driving goal .
To that end , there are reasons beyond the public good for ESG funds .
As passive investing overtakes active , they offer a way to stand out to the @ @ @ @ @ @ @ the big investors who back them to proxy advisory agencies like the Institutional Shareholder Services when they agitate for seats on company boards .
It is with that caveat that some question how far funds like BlackRock and Vanguard are willing to go .
As an example , the Sierra Club 's Michael Brune applauded BlackRock 's announcement , while also noting that the firm voted against every single resolution backed by the Climate Action 100+ investor coalition .
And behind the scenes , large funds like BlackRock are less focused on some @ @ @ @ @ @ @ most drastic change — like tying pay to ESG performance — than they are on shareholder return .
`` When companies have to talk to their shareholders about ESG issues , risk management and culture are among the top topics , '' said Bill Anderson , global head of Evercore 's Activism Defense business and Strategic Shareholder Advisory practice .
`` Despite the heightened focus on stakeholders , most companies provide near-term guidance and compensation continues to focus on short-term total shareholder returns . ''
Some executives argue that improved shareholder returns can @ @ @ @ @ @ @ , like through charitable endeavors .
But so long as CEOs ' pay is tied to Wall Street performance , there is room for examples of discord between what benefits wallets and the world .
Boeing 's former CEO Dennis Muilenburg , who was fired last month for his handling of the 737 Max crisis , walked away with more than $ 60 million , despite being denied severance .
In 2018 , the majority of his compensation was tied to performance-based bonuses linked to short-term incentives , like sales , cash-flow and @ @ @ @ @ @ @ profit goal .
`` Yeah , you killed 346 people , '' Rep. Peter DeFazio , D-Ore. recently told reporters , arguing that a disproportionate focus on share price `` somehow has got to change . ''
Muilenburg was a board member of the Business Roundtable until he was ousted as Boeing CEO in December .
At a press conference earlier that month , then-Business Roundtable Chairman Jamie Dimon , the CEO of J.P. Morgan , scoffed at the notion that there was a disconnect between the Business Roundtable 's stakeholder capitalism and @ @ @ @ @ @ @ is `` not an enforcement group , '' Dimon said .
`` [ ... ] And yes , companies are going to make mistakes and have problems and that 'll never end — truthfully like any institution you 'll ever see on the planet — including the press . ''
Business Roundtable CEO Joshua Bolten said at the same press conference that `` every single one of the CEOs who are members '' of the group is already engaged in supporting their customers , employees and communities , as well as shareholders .
@ @ @ @ @ @ @ its CEOs to `` do better and more , '' he said .
From the Business Roundtable 's standpoint , that means engaging in policy debates like its push for a federal increase in the minimum wage .
But the minimum wage debate — like climate change , board diversity and privacy — is already being tackled by the states , far ahead of federal regulation .
While the federal minimum wage has held steady at $ 7.25 an hour since 2009 , nearly half of states raised their minimums in 2019 .
@ @ @ @ @ @ @ , with everyone from Walmart to Amazon having already announced plans to raise their wages .
`` I think every CEO of a large company knows that it would be difficult to have big changes at the federal level , because most corporate law is done at the state level , '' said Michigan 's Gordon .
`` It costs nothing for a CEO to throw out a bill proposal .
You ca n't accuse them of doing anything other than what politicians try to do — you hold hearings — its Kabuki @ @ @ @ @ @ @ say the federal government has no powers , whether it be through investigations or lawsuits .
One of the tools the federal government has at its disposal to impact ESG is still little used : disclosure requirements imposed by the Securities and Exchange Commission .
A Dodd-Frank rule requiring the SEC to adopt rules that force disclosure of CEO pay ratio brought the issue to the forefront in boardrooms , corporate advisors have told CNBC .
There is no uniform SEC disclosure standard for most ESG issues , so there is no clear @ @ @ @ @ @ @ releases and hard to parse ESG reports .
Without a clear public measuring stick , companies can more easily slip through the cracks of accountability , say industry experts .
For that reason , there are pushes to force the SEC to impose such standards , like Sen. Elizabeth Warren 's proposed Climate Risk Disclosure Act .
There are inherent challenges in creating such requirements .
They would add more compliance costs as public companies are already arguing the costs of being public are too onerous .
It is difficult to create a @ @ @ @ @ @ @ environmental impact that would work for an array of industries , from energy to services .
With that , the SEC is unlikely to impose such rules in the short term , industry experts say .
The agency , led by Jay Clayton , a Trump appointee , has made simplifying corporate disclosures among its priorities .
Indeed in November , the SEC proposed a pair of rules that would raise the threshold for investors to call for a vote on specific issues , making it harder for them to press climate change @ @ @ @ @ @ @ groups that pushed for the SEC to raise that threshold was the Business Roundtable .
— CNBC 's Leslie Josephs and Amelia Lucas contributed to this report

Klaus Schwab, founder and Executive Chairman of the World Economic Forum (WEF), addresses a news conference ahead of the Davos annual meeting in Cologny near Geneva, Switzerland, January 14, 2020. Denis Balibouse
The world's most influential executives will soon swarm the World Economic Forum in Davos, Switzerland, where they will embrace the idea that corporations no longer exist simply to funnel profits into the pockets of shareholders. They will talk about how their companies have tackled societal issues — from diversity to climate change. Powerful politicians, potentially including President Donald Trump, will also be at the five-day event, which begins Tuesday, laying out the way they have held companies accountable, all while populist rhetoric remains a heated topic during this year's campaign for the White House. In the often-snowy Swiss village, stakeholder capitalism — a movement that redefines a company's purpose from serving only its shareholders to all stakeholders, including customers and communities — will be the dominant theme. It will be the first Davos meeting since the Business Roundtable, a group representing the CEOs of nearly 200 companies, embraced stakeholder capitalism as its new purpose in August. But conversations with corporate advisors, investors and experts paint a more nuanced picture of how corporate America is taking on the issues. It is one in which Congress' ability to force corporate change is dwarfed by state governments. And the biggest driver of change originates from where it always has — investors. As some investors have shifted their focus to the public good, so have companies. Yet there will be limits to change as long as the largest investors care most about making money. "So far, at most companies, their words are bigger than their actions," said Erik Gordon, a professor at the University of Michigan's Ross School of Business. "The other wordy people, politicians in an election year, aren't as big a force as socially activist stockholders are. Stockholders like endowments and pension funds, who are more interested in stakeholder effects than are stockholders who look solely for returns, are the ones the corporations cannot ignore." Setting the stage for Davos and corporate America over the past few years is a generation for which social and economic issues have become nearly unavoidable. Issues like climate change are more tangible, due to disasters like the wildfires in Australia. Homelessness is more apparent to young urbanites as the problem swells in cities like Seattle and San Francisco. Income inequality is rising as technology and globalization alter the employment landscape. With that, public pension funds are asking more questions — like whether private equity contributed to the demise of Toys R Us. Shareholder advocacy groups like As You Sow are pushing for shareholder votes on issues including climate change and human rights. The country's biggest investors have joined in as well. Powerful names like ValueAct, Jana Partners and BlackRock have launched new funds that promote environmental, social and governance causes, known as ESG. The funds espouse the idea that investments that line up with public values are rewarded by the market place. Investing in alternative energy, for example, could be rewarded as countries move toward shifting their power standards.
Larry Fink David Orrell | CNBC
It was with that view that BlackRock CEO Larry Fink announced that the world's largest money manager will exit investments with a high sustainability-related risk like coal. He attributed the move to "a fundamental reshaping of finance" and warned that climate change is a "defining factor in companies' long-term prospects." He also said the group will join the Climate Action 100+ investor coalition, which focuses on tackling greenhouse gas.
Limits and profits
But for funds like BlackRock, profit will always be the driving goal. To that end, there are reasons beyond the public good for ESG funds. As passive investing overtakes active, they offer a way to stand out to the Street. ESG funds may also endear the big investors who back them to proxy advisory agencies like the Institutional Shareholder Services when they agitate for seats on company boards. It is with that caveat that some question how far funds like BlackRock and Vanguard are willing to go. As an example, the Sierra Club's Michael Brune applauded BlackRock's announcement, while also noting that the firm voted against every single resolution backed by the Climate Action 100+ investor coalition. And behind the scenes, large funds like BlackRock are less focused on some of the demands that could create the most drastic change — like tying pay to ESG performance — than they are on shareholder return. "When companies have to talk to their shareholders about ESG issues, risk management and culture are among the top topics," said Bill Anderson, global head of Evercore's Activism Defense business and Strategic Shareholder Advisory practice. "Despite the heightened focus on stakeholders, most companies provide near-term guidance and compensation continues to focus on short-term total shareholder returns." Some executives argue that improved shareholder returns can help CEOs benefit society in other ways, like through charitable endeavors. But so long as CEOs' pay is tied to Wall Street performance, there is room for examples of discord between what benefits wallets and the world. Boeing's former CEO Dennis Muilenburg, who was fired last month for his handling of the 737 Max crisis, walked away with more than $60 million, despite being denied severance. In 2018, the majority of his compensation was tied to performance-based bonuses linked to short-term incentives, like sales, cash-flow and earnings-per-share and longer-term metrics like its 3-year profit goal. "Yeah, you killed 346 people," Rep. Peter DeFazio, D-Ore. recently told reporters, arguing that a disproportionate focus on share price "somehow has got to change." Muilenburg was a board member of the Business Roundtable until he was ousted as Boeing CEO in December. At a press conference earlier that month, then-Business Roundtable Chairman Jamie Dimon, the CEO of J.P. Morgan , scoffed at the notion that there was a disconnect between the Business Roundtable's stakeholder capitalism and Muilenburg's board-seat. The Business Roundtable is "not an enforcement group," Dimon said. "[...] And yes, companies are going to make mistakes and have problems and that'll never end — truthfully like any institution you'll ever see on the planet — including the press."
Disclosure as enforcement
Business Roundtable CEO Joshua Bolten said at the same press conference that "every single one of the CEOs who are members" of the group is already engaged in supporting their customers, employees and communities, as well as shareholders. Its new purpose is a challenge to its CEOs to "do better and more," he said. From the Business Roundtable's standpoint, that means engaging in policy debates like its push for a federal increase in the minimum wage. But the minimum wage debate — like climate change, board diversity and privacy — is already being tackled by the states, far ahead of federal regulation. While the federal minimum wage has held steady at $7.25 an hour since 2009, nearly half of states raised their minimums in 2019. In turn, companies are already responding, with everyone from Walmart to Amazon having already announced plans to raise their wages. "I think every CEO of a large company knows that it would be difficult to have big changes at the federal level, because most corporate law is done at the state level," said Michigan's Gordon. "It costs nothing for a CEO to throw out a bill proposal. You can't accuse them of doing anything other than what politicians try to do — you hold hearings — its Kabuki theater."
A general view shows the congress centre, the venue of the World Economic Forum (WEF) in Davos, Switzerland January 13, 2020. Arnd Wiegmann | Reuters


cnbc--2020-01-19--Rep. Pramila Jayapal, leading progressive congresswoman, endorses Bernie Sanders for president

Rep. Pramila Jayapal ( D-Wash. ) , a co-chair of the Congressional Progressive Caucus and one of the most prominent @ @ @ @ @ , is endorsing Sen. Bernie Sanders for president .
Her choice could bolster Sander 's @ @ @ @ @ give him an advantage over his opponent Sen. Elizabeth Warren in the closing weeks before @ @ @ @ @ Iowa on February 3 .
Jayapal , the lead sponsor of the House `` Medicare @ @ @ @ @ has been courted by both candidates for an endorsement .
`` Bernie has the bold @ @ @ @ @ that working people across this country desperately need , '' Jayapal wrote on Twitter .
@ @ @ @ @ progressive movement that will bring justice & opportunity & transform our country . ''
Jayapal @ @ @ @ @ rally in Des Moines , Iowa on Monday to unveil her endorsement .

Rep. Pramila Jayapal (D-Wash.), a co-chair of the Congressional Progressive Caucus and one of the most prominent women of color in Congress, is endorsing Sen. Bernie Sanders for president.
Her choice could bolster Sander's strength on the left and give him an advantage over his opponent Sen. Elizabeth Warren in the closing weeks before the first nominating contest in Iowa on February 3. Jayapal, the lead sponsor of the House "Medicare for All" bill, has been courted by both candidates for an endorsement.
"Bernie has the bold passion, authenticity & clarity that working people across this country desperately need," Jayapal wrote on Twitter. "We are building the progressive movement that will bring justice & opportunity & transform our country."
Jayapal will join Sanders for a rally in Des Moines, Iowa on Monday to unveil her endorsement.


cnbc--2020-01-20--Donald Trump vs. Greta Thunberg: Davos prepares for climate crisis showdown

President Donald Trump and Swedish climate activist Greta Thunberg will both attend the World Economic Forum ( WEF ) this week , stirring up a heightened sense of intrigue in the Swiss Alpine town of Davos .
The 50th edition of the annual January get-together — which draws policymakers and business leaders from around the world — is scheduled to focus on the intensifying climate crisis .
Trump is set to travel to the picturesque ski resort after skipping the conference last year due to the partial government shutdown .
The U.S. president , who is likely to be one @ @ @ @ @ @ @ , has often expressed skepticism about the scale of the climate crisis .
Since coming to power in 2016 , Trump has pulled the U.S. — one of the world 's leading carbon emitters — out of the Paris Agreement and sought to roll back over 80 environmental regulations .
His much-anticipated return to Davos will mark the first time he has attended the same event as Thunberg since the pair briefly crossed paths at the United Nations ( UN ) climate change summit in New York last year .
In a widely-shared @ @ @ @ @ @ @ be seen glaring at Trump as he addressed reporters .
The 17-year-old , who was catapulted to fame for skipping school every Friday to hold a weekly vigil outside Swedish parliament in 2018 , was recently named Time Magazine 's Person of the Year for 2019 .
She was recognized for the award after sparking an international wave of school strikes — also known as `` Fridays for Future . ''
Millions of children took part in rallies around the world to protest against political inaction over climate change .
`` So ridiculous @ @ @ @ @ @ @ Management problem , then go to a good old-fashioned movie with a friend !
Chill Greta , Chill ! ''
Trump tweeted on Dec. 12 .
In an interview with BBC radio 's Today program late last month , Thunberg said attacks from the U.S. president and others should be seen as `` proof that we are actually doing something and that they see us as some kind of threat . ''
When asked what she would have said to the U.S. president if they had spoken at the UN climate change summit @ @ @ @ @ @ @ I do n't think I would have said anything because obviously he 's not listening to scientists and experts , so why would he listen to me ? ''
`` So , I probably would n't have said anything , I would n't have wasted my time . ''
'We absolutely need to do things differently' Thunberg has reportedly pledged to tell global leaders in attendance at Davos to `` immediately and completely divest from fossil fuels . ''
She is scheduled to deliver the opening remarks of a panel session entitled `` @ @ @ @ @ @ @ .
The WEF 's theme , officially recognized as `` Stakeholders for a Cohesive and Sustainable World , '' follows a year which reportedly saw the hottest year on record for the world 's oceans , the second-hottest year for global average temperatures and wildfires from the U.S. to the Amazon to Australia .
The event , which is often criticized for being out of touch with the real world , has said it aims to assist governments and international institutions in tracking progress toward the Paris Agreement and the UN 's Sustainable @ @ @ @ @ @ @ absolutely need to do things differently .
We are not going to get anywhere by just carrying on doing what we used to do , '' Emily Farnworth , head of climate initiatives at WEF , told CNBC on Wednesday .
`` I think this pressure from young activists in really keeping a spotlight on where some of these problems lie is really important and having companies pushing to demonstrate how they can do things differently just helps to move things in the right direction , '' she added .

Swedish environmental activist Greta Thunberg watches as U.S. President Donald Trump enters the United Nations to speak with reporters in a still image from video taken in New York City, U.S. September 23, 2019. REUTERS | Andrew Hofstetter | File Photo
President Donald Trump and Swedish climate activist Greta Thunberg will both attend the World Economic Forum (WEF) this week, stirring up a heightened sense of intrigue in the Swiss Alpine town of Davos. The 50th edition of the annual January get-together — which draws policymakers and business leaders from around the world — is scheduled to focus on the intensifying climate crisis. Trump is set to travel to the picturesque ski resort after skipping the conference last year due to the partial government shutdown. The U.S. president, who is likely to be one of the star attractions of the event, has often expressed skepticism about the scale of the climate crisis. Since coming to power in 2016, Trump has pulled the U.S. — one of the world's leading carbon emitters — out of the Paris Agreement and sought to roll back over 80 environmental regulations.
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His much-anticipated return to Davos will mark the first time he has attended the same event as Thunberg since the pair briefly crossed paths at the United Nations (UN) climate change summit in New York last year. In a widely-shared video on social media, Thunberg could be seen glaring at Trump as he addressed reporters.
What's the context?
The 17-year-old, who was catapulted to fame for skipping school every Friday to hold a weekly vigil outside Swedish parliament in 2018, was recently named Time Magazine's Person of the Year for 2019. She was recognized for the award after sparking an international wave of school strikes — also known as "Fridays for Future." Millions of children took part in rallies around the world to protest against political inaction over climate change. Tweet 1 "So ridiculous. Greta must work on her Anger Management problem, then go to a good old-fashioned movie with a friend! Chill Greta, Chill!" Trump tweeted on Dec. 12. In an interview with BBC radio's Today program late last month, Thunberg said attacks from the U.S. president and others should be seen as "proof that we are actually doing something and that they see us as some kind of threat." When asked what she would have said to the U.S. president if they had spoken at the UN climate change summit, Thunberg replied: "Honestly, I don't think I would have said anything because obviously he's not listening to scientists and experts, so why would he listen to me?" "So, I probably wouldn't have said anything, I wouldn't have wasted my time."
'We absolutely need to do things differently'
Thunberg has reportedly pledged to tell global leaders in attendance at Davos to "immediately and completely divest from fossil fuels." She is scheduled to deliver the opening remarks of a panel session entitled "Averting a Climate Apocalypse" on Tuesday. The WEF's theme, officially recognized as "Stakeholders for a Cohesive and Sustainable World," follows a year which reportedly saw the hottest year on record for the world's oceans, the second-hottest year for global average temperatures and wildfires from the U.S. to the Amazon to Australia.
A hotel employee checks a bottle of champagne as he stands on the snow covered bar terrace of the InterContinental Hotel Davos Matthew Lloyd/Bloomberg via Getty Images


cnbc--2020-01-21--Greta Thunberg says world leaders are running out of time to tackle climate emergency

DAVOS , Switzerland — Swedish climate activist Greta Thunberg told policymakers at the World Economic Forum ( WEF ) on Tuesday that time is running out to effectively tackle an intensifying climate crisis .
Speaking during a panel session entitled `` Forging a Sustainable Path Towards a Common Future , '' the 17-year-old cited the International Panel on Climate Change ( IPCC ) report from 2018 as she delivered prepared remarks to a packed audience .
The IPCC report states the remaining carbon budget would need to fall below 570 gigatons of carbon dioxide ( CO2 ) over the coming @ @ @ @ @ @ @ a 67 % chance of limiting global warming to 1.5 degrees Celsius .
But , Thunberg said : `` With today 's emissions levels , the remaining budget is gone in less than eight years .
These are n't anyone 's views .
This is the science . ''
`` I 've been repeating these numbers at nearly every speech I 've given for the last 18 months . ''
`` I know you do n't want to talk about this , '' Thunberg continued , before adding that she intends to keep @ @ @ @ @ @ @ taken .
Her comments come as policymakers and business leaders arrive in Switzerland for the start of the WEF 's four-day annual conference , with those in attendance scheduled to focus on the intensifying climate crisis .
The event , which is often criticized for being out of touch with the real world , has said it aims to assist governments and international institutions in tracking progress toward the Paris Agreement and the UN 's Sustainable Development Goals .
It follows the hottest year on record for the world 's oceans , the @ @ @ @ @ @ @ wildfires from the U.S. to the Amazon to Australia .

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DAVOS, Switzerland — Swedish climate activist Greta Thunberg told policymakers at the World Economic Forum on Tuesday that time is running out to effectively tackle an intensifying climate crisis. Speaking during a panel session entitled "Forging a Sustainable Path Towards a Common Future," the 17-year-old cited the Intergovernmental Panel on Climate Change report from 2018 as she delivered remarks to a packed audience. The IPCC report states the remaining carbon budget would need to fall below 570 gigatons of carbon dioxide in the coming years if the world is to have a 67% chance of limiting global warming to 1.5 degrees Celsius. "With today's emissions levels, the remaining budget is gone in less than eight years," Thunberg said. "These aren't anyone's views. This is the science." "I've been repeating these numbers at nearly every speech I've given for the last 18 months." "I know you don't want to talk about this," Thunberg continued, before adding that she intends to keep repeating herself until the appropriate action is taken.
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Her comments come as policymakers and business leaders arrived in Switzerland for the start of the WEF's four-day annual conference, with those in attendance scheduled to focus on the intensifying climate crisis. The event, which is often criticized for being out of touch with the real world, has said it aims to assist governments and international institutions in tracking progress toward the Paris Agreement and the U.N.'s Sustainable Development Goals. It follows the hottest year on record for the world's oceans, the second-hottest year for global average temperatures, and wildfires from the U.S. to the Amazon to Australia.
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'Pretty much nothing has been done'


cnbc--2020-01-21--Senate Democrats win 2 key changes to Trump impeachment trial rules

WASHINGTON – Senate Democrats won two key changes to the rules of President Donald Trump 's impeachment trial as proceedings kicked off Tuesday afternoon .
The changes will permit each side to stretch out the 24 total hours they 've been allotted for making arguments over three days , instead of two , as Senate Majority Leader Mitch McConnell had initially proposed .
The changes will also automatically admit into evidence the entire record of the House impeachment probe into Trump last fall .
The surprise last-minute changes were revealed Tuesday afternoon during a formal reading on the Senate floor @ @ @ @ @ @ @ the trial .
A spokesman for Senate Minority Leader Chuck Schumer later confirmed the changes to CNBC .
`` After massive pressure from Senate Democrats and the public , Senator McConnell has made two changes to his organizing resolution for the Senate impeachment trial , '' Schumer aide Justin Goodman said in an email .
`` 1 .
The House record will now automatically be admitted into evidence ( under McConnell 's ' original resolution , the Senate would have to vote to add it in ) 2 .
Each side now has @ @ @ @ @ @ @ ( McConnell 's original resolution said it had to be done over two days ) , '' Goodman wrote .
A spokesman for McConnell did not immediately respond to a request for comment on how the change came about .
But one clue to McConnell 's thinking may lie in the fact that there are distinct benefits for Trump and the GOP in how Tuesday 's events unfolded .
McConnell is known for his exceptionally shrewd use of Senate rules to help him accomplish political objectives , and his last-minute changes to the @ @ @ @ @ @ @ exception .
While the decision might have initially looked like a concession to the Democrats , it also served McConnell 's aims .
By waiting as long as he did to announce the changes , McConnell ensured that his Democratic counterparts spent the day before the trial focused primarily on objecting to the specifics of those two rules .
`` McConnell seems to want a trial with no existing evidence and no new evidence , '' Schumer said at a Tuesday morning news conference .
He also accused McConnell of mandating the tight @ @ @ @ @ @ @ from seeing the trial live on TV .
Yet by essentially keeping Schumer busy fighting for evidence and more time , McConnell ensured that less attention and political firepower would be paid to a third contentious issue in the trial rules : Whether or not the Senate will hear from live witnesses .
A Democratic win in the debate over live witnesses would likely have far more serious implications for the president than whether opening arguments were limited to two days or three .
In a surprise move earlier this month , former @ @ @ @ @ @ @ announced that he would be willing to testify in a Senate trial if he were subpoenaed to do so .
Bolton was at the center of the White House national security apparatus during key moments at issue in the impeachment articles , and should he actually testify under oath , Bolton 's account would likely be damaging to the president .
Trump is charged with abusing his power by withholding foreign aid to Ukraine in order to force the country to launch high-profile investigations into Trump 's political opponents .
He is also @ @ @ @ @ @ @ aides from testifying before the House last year .
He has denied any wrongdoing .
McConnell has so far said that senators will be asked to vote on the witness question later in the trial , after they 've heard arguments from each side .
But Democrats say that amounts to voting on witnesses after the trial is essentially over .
The final rules also leave open the option of holding a vote to dismiss the charges against Trump outright , via a motion on the Senate floor .
While only a simple @ @ @ @ @ @ @ that motion , a handful of the 53 Republicans in the chamber have suggested they would not vote to dismiss the charges .
Still , it is highly unlikely that two-thirds of the Senate will vote to convict and remove a Republican president .
Trump is only the third president in American history to be impeached , and so far no Senate Republicans have said they will vote to convict him .
Opening arguments in the trial are scheduled to begin at 1 p.m. on Wednesday , and continue well into next week @

WASHINGTON – Senate Democrats won two key changes to the rules of President Donald Trump's impeachment trial as proceedings kicked off Tuesday afternoon.
The changes will permit each side to stretch out the 24 total hours they've been allotted for making arguments over three days, instead of two, as Senate Majority Leader Mitch McConnell had initially proposed. The changes will also automatically admit into evidence the entire record of the House impeachment probe into Trump last fall.
The surprise last-minute changes were revealed Tuesday afternoon during a formal reading on the Senate floor of the resolution governing the rules of the trial. A spokesman for Senate Minority Leader Chuck Schumer later confirmed the changes to CNBC.
"After massive pressure from Senate Democrats and the public, Senator McConnell has made two changes to his organizing resolution for the Senate impeachment trial," Schumer aide Justin Goodman said in an email.
"1. The House record will now automatically be admitted into evidence (under McConnell's' original resolution, the Senate would have to vote to add it in) 2. Each side now has three days to make their opening statements (McConnell's original resolution said it had to be done over two days)," Goodman wrote.
A spokesman for McConnell did not immediately respond to a request for comment on how the change came about. But one clue to McConnell's thinking may lie in the fact that there are distinct benefits for Trump and the GOP in how Tuesday's events unfolded.
McConnell is known for his exceptionally shrewd use of Senate rules to help him accomplish political objectives, and his last-minute changes to the trial rules seem to have been no exception.
While the decision might have initially looked like a concession to the Democrats, it also served McConnell's aims.
By waiting as long as he did to announce the changes, McConnell ensured that his Democratic counterparts spent the day before the trial focused primarily on objecting to the specifics of those two rules.
"McConnell seems to want a trial with no existing evidence and no new evidence," Schumer said at a Tuesday morning news conference. He also accused McConnell of mandating the tight timeline in order to keep the public from seeing the trial live on TV.


cnbc--2020-01-21--Trump administration increases pressure on Maduro regime with new sanctions

WASHINGTON — In the latest move meant to back Venezuelan opposition leader Juan Guaido , the Trump administration on Tuesday sanctioned more than a dozen aircraft used to support the regime of President Nicolas Maduro .
The Department of Treasury identified 15 aircraft operated by Venezuela 's state-owned oil company , Petroleos de Venezuela SA , or PDVSA , that transport senior members of the Maduro regime .
According to the Treasury release , Venezuelan Oil Minister Manuel Salvador Quevedo Fernandez flew to an OPEC meeting last year in the United Arab Emirates on a PDVSA aircraft .
Other regime @ @ @ @ @ @ @ 2019 as well as in 2018 .
What 's more , several of these aircraft were operated in an unsafe and unprofessional manner in proximity to U.S. military aircraft , while in international air space , Treasury said .
`` In the winter of 2019 , PDVSA Learjet 45 flew in close proximity to a U.S. military aircraft over the Caribbean Sea .
In the spring of 2019 , during a joint operation conducted by PDVSA and the Venezuelan Integrated Air Command , PDVSA 's Learjet 45XR attempted to interfere with a U.S. @ @ @ @ @ @ @ , '' according to the Treasury release .
The U.S. move is the latest taken under Executive Order 13884 , signed by President Donald Trump in August , authorizing a block on property and interests of the Venezuelan government .
Under the Treasury 's Office of Foreign Assets Control , or OFAC , U.S. citizens are prohibited from using assets that have been blocked or sanctioned .
`` This action furthers U.S. efforts to use targeted sanctions and steady diplomacy to end Maduro 's attempts to usurp power , and to support a @ @ @ @ @ @ @ and fair presidential elections , '' wrote Secretary of State Mike Pompeo in a statement .
The new development adds to what has become a nearly two-decade saga of crumbling relations between Washington and Caracas .
Tensions between Venezuela and the U.S. can be traced back to when Hugo Chavez , Maduro 's predecessor , became president of Venezuela in 1999 .
During his campaign for president , Chavez vilified the U.S. and other countries he felt were taking advantage of Venezuela .
Chavez also accused the U.S. of aiding in an attempted @ @ @ @ @ @ @ While the Bush administration tried to distance itself from the coup attempt , documents found in 2004 showed the CIA knew of an attempted coup back then .
Read more : Tensions between Venezuela and the US keep rising .
Here 's how they got to this point The U.S. condemned Venezuela for imprisoning political opponents as well as the Chavez regime 's consolidation of power .
Chavez seized control of the country 's supreme court in 2004 .
He also increased his control over the local media , passing laws that penalized @ @ @ @ @ @ @ '' public officials .
Once Chavez died in 2013 and Maduro took over , tensions began to increase once again .
Maduro , who is not the charismatic leader Chavez was , consolidated his power in 2017 by stripping the country 's opposition-led legislature of power .
By then , a massive humanitarian and economic crisis had already begun .
Venezuela 's economy was decimated after oil prices began collapsing in late 2014 .
The fall in oil prices made it hard for Venezuela to keep providing subsidies for its many national programs @ @ @ @ @ @ @ shortages of food and other basic goods such as medicine .
This crisis has led the Trump administration to slap sanctions on dozens of Venezuelans associated with the Maduro regime , including his wife , Cilia Flores .
Through all of this , Venezuela has found a natural ally in Russia .
Moscow is not only a major political friend of Caracas but also a financier of the South American nation 's oil fields .
Russia 's largest oil company , Rosneft , operates in Venezuela and has issued loans to PDVSA .
@ @ @ @ @ @ @ has given Caracas a line of credit to purchase Russian arms .
From Kalashnikov rifles to Sukhoi planes , the Kremlin has brokered several weapons deals with Venezuela and deployed two Russian bombers to the country .
— Fred Imbert contributed to this report from CNBC 's global headquarters in Englewood Cliffs , New Jersey .

Venezuela's President Nicolas Maduro Marco Bello | Reuters
WASHINGTON — In the latest move meant to back Venezuelan opposition leader Juan Guaido, the Trump administration on Tuesday sanctioned more than a dozen aircraft used to support the regime of President Nicolas Maduro. The Department of Treasury identified 15 aircraft operated by Venezuela's state-owned oil company, Petroleos de Venezuela SA, or PDVSA, that transport senior members of the Maduro regime. According to the Treasury release, Venezuelan Oil Minister Manuel Salvador Quevedo Fernandez flew to an OPEC meeting last year in the United Arab Emirates on a PDVSA aircraft. Other regime officials used the company's aircraft throughout 2019 as well as in 2018. What's more, several of these aircraft were operated in an unsafe and unprofessional manner in proximity to U.S. military aircraft, while in international air space, Treasury said. "In the winter of 2019, PDVSA Learjet 45 flew in close proximity to a U.S. military aircraft over the Caribbean Sea. In the spring of 2019, during a joint operation conducted by PDVSA and the Venezuelan Integrated Air Command, PDVSA's Learjet 45XR attempted to interfere with a U.S. military aircraft in the northern Caribbean Sea," according to the Treasury release.
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The U.S. move is the latest taken under Executive Order 13884, signed by President Donald Trump in August, authorizing a block on property and interests of the Venezuelan government. Under the Treasury's Office of Foreign Assets Control, or OFAC, U.S. citizens are prohibited from using assets that have been blocked or sanctioned. "This action furthers U.S. efforts to use targeted sanctions and steady diplomacy to end Maduro's attempts to usurp power, and to support a Venezuelan transition to democracy, including free and fair presidential elections," wrote Secretary of State Mike Pompeo in a statement. The new development adds to what has become a nearly two-decade saga of crumbling relations between Washington and Caracas. Tensions between Venezuela and the U.S. can be traced back to when Hugo Chavez, Maduro's predecessor, became president of Venezuela in 1999. During his campaign for president, Chavez vilified the U.S. and other countries he felt were taking advantage of Venezuela. Chavez also accused the U.S. of aiding in an attempted coup against his government in 2002. While the Bush administration tried to distance itself from the coup attempt, documents found in 2004 showed the CIA knew of an attempted coup back then. Read more: Tensions between Venezuela and the US keep rising. Here's how they got to this point The U.S. condemned Venezuela for imprisoning political opponents as well as the Chavez regime's consolidation of power. Chavez seized control of the country's supreme court in 2004. He also increased his control over the local media, passing laws that penalized outlets for running content that "offends" public officials. Once Chavez died in 2013 and Maduro took over, tensions began to increase once again. Maduro, who is not the charismatic leader Chavez was, consolidated his power in 2017 by stripping the country's opposition-led legislature of power. By then, a massive humanitarian and economic crisis had already begun.
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cnbc--2020-01-21--Senate Democrats will seek to subpoena White House records in Trump impeachment trial

WASHINGTON -- Senate Minority Leader Chuck Schumer said Tuesday that he will introduce a series of amendments to the proposed rules for President Donald Trump 's impeachment trial , set to begin Tuesday afternoon .
`` The first amendment I will offer will ask that the Senate subpoena White House documents related to the charges against the president , '' Schumer said at a news conference .
`` Those documents include the records of meetings and calls between President Trump and the president of Ukraine , as well as those records created or received by ... White House personnel about @ @ @ @ @ @ @ military assistance to Ukraine . ''
McConnell on Monday released an outline of the trial rules that largely resemble former President Bill Clinton 's 1998 impeachment trial .
But the rules in Trump 's trial depart from Clinton 's in key sections — most notably in the tight time constraints placed on both sides to state their cases .
Democrats were quick to cry foul .
`` McConnell 's resolution is nothing short of a national disgrace , '' Schumer said Tuesday , `` and it will go down in history as one @ @ @ @ @ @ @ Senate . ''
Ahead of Wednesday 's opening arguments , Democrats have an opportunity on Tuesday afternoon to introduce amendments to these rules , which the full Senate will then vote on .
McConnell has said he wants a speedy acquittal for Trump , and has openly said his office is coordinating with the White House .
His final resolution allows just two days each for House managers , and then Trump 's defense team , to present their arguments , with 24 hours of total time allotted each side .
As with @ @ @ @ @ @ @ allows senators to vote on witness testimony during the trial itself .
But it also requires a specific vote in the majority-Republican chamber to consider evidence gathered from the House impeachment process .
The White House might also try to dismiss the trial outright in a motion on the Senate floor .
While only a simple 51-vote majority is required to pass that motion , a handful of the 53 Republicans in the chamber have suggested they would not vote to do so .
Still , it is highly unlikely that two-thirds of @ @ @ @ @ @ @ remove a Republican president .
Trump is just the third U.S. president ever to be impeached , and no Senate Republicans have said they will vote to convict .
After Tuesday 's debate over the trial rules , opening arguments are set to begin at 1 p.m. on Wednesday .

WASHINGTON -- Senate Minority Leader Chuck Schumer said Tuesday that he will introduce a series of amendments to the proposed rules for President Donald Trump's impeachment trial, set to begin Tuesday afternoon.
"The first amendment I will offer will ask that the Senate subpoena White House documents related to the charges against the president," Schumer said at a news conference. "Those documents include the records of meetings and calls between President Trump and the president of Ukraine, as well as those records created or received by ... White House personnel about the decision to hold and release the military assistance to Ukraine."
McConnell on Monday released an outline of the trial rules that largely resemble former President Bill Clinton's 1998 impeachment trial. But the rules in Trump's trial depart from Clinton's in key sections — most notably in the tight time constraints placed on both sides to state their cases.
Democrats were quick to cry foul. "McConnell's resolution is nothing short of a national disgrace," Schumer said Tuesday, "and it will go down in history as one of the very dark days of the Senate."
Ahead of Wednesday's opening arguments, Democrats have an opportunity on Tuesday afternoon to introduce amendments to these rules, which the full Senate will then vote on.
McConnell has said he wants a speedy acquittal for Trump, and has openly said his office is coordinating with the White House. His final resolution allows just two days each for House managers, and then Trump's defense team, to present their arguments, with 24 hours of total time allotted each side.
As with Clinton's trial, McConnell's resolution allows senators to vote on witness testimony during the trial itself. But it also requires a specific vote in the majority-Republican chamber to consider evidence gathered from the House impeachment process.
The White House might also try to dismiss the trial outright in a motion on the Senate floor. While only a simple 51-vote majority is required to pass that motion, a handful of the 53 Republicans in the chamber have suggested they would not vote to do so.
Still, it is highly unlikely that two-thirds of the Senate will vote to convict and remove a Republican president. Trump is just the third U.S. president ever to be impeached, and no Senate Republicans have said they will vote to convict.
The president has denied wrongdoing.
After Tuesday's debate over the trial rules, opening arguments are set to begin at 1 p.m. on Wednesday.


cnbc--2020-01-21--Hong Kong leader Carrie Lam says she's 'very disappointed' by rating downgrade

Hong Kong 's top politician Carrie Lam said she is `` very disappointed '' by the Moody 's ratings downgrade @ @ @ @ @ to CNBC 's Geoff Cutmore at the World Economic Forum ( WEF ) in Davos @ @ @ @ @ are very disappointed by the downgrading by Moody 's from Aa2 to Aa3 . ''
@ @ @ @ @ was even more upset by the reasons given by the ratings agency .
`` If @ @ @ @ @ am even more disappointed by their assessment of the Hong Kong situation and their comment @ @ @ @ @ governance , ' because after seven months of unrest , what has proven to be @ @ @ @ @ institutions and governance . ''
Last week , Lam announced a $ 1.3 billion fiscal @ @ @ @ @ Hong Kong 's muddling economy back into life .
On Tuesday , Moody 's ratings @ @ @ @ @ plan by cutting the city 's rating by one level .
Fellow ratings agency Fitch @ @ @ @ @ in September last year .

Hong Kong's top politician Carrie Lam said she is "very disappointed" by the Moody's ratings downgrade for the city-state.
Speaking to CNBC's Geoff Cutmore at the World Economic Forum (WEF) in Davos Lam said: "We are very disappointed by the downgrading by Moody's from Aa2 to Aa3."
The chief executive said she was even more upset by the reasons given by the ratings agency.
"If you ask me, I am even more disappointed by their assessment of the Hong Kong situation and their comment on the 'weak institutions and governance,' because after seven months of unrest, what has proven to be resilient is Hong Kong's institutions and governance."
Last week, Lam announced a $1.3 billion fiscal pledge, designed to kickstart Hong Kong's muddling economy back into life. On Tuesday, Moody's ratings agency appeared to dismiss that plan by cutting the city's rating by one level. Fellow ratings agency Fitch had already downgraded the city-state in September last year.


cnbc--2020-01-21--OpEd: Hospital monopolies are making us poorer and sicker

Sometimes , what looks like bad news comes along with a silver lining .
This is not one of those times .
For years , we 've seen the evidence that hospital mergers generally contribute to rising health care costs in America .
That 's despite hospitals arguing otherwise .
But now , a new study in the New England Journal of Medicine rubs salt in the wound by showing how hospital mergers are n't improving health care quality and often make it worse .
To summarize : hospital consolidation in America has been contributing to higher costs , and @ @ @ @ @ @ @ likely a major cause of overall health care quality going down .
But other than that Mrs. Lincoln , how did you like the play ?
None of this should be a surprise , at least not for anyone who understands basic economics .
Heavy consolidation and monopoly-like powers in any industry almost always stifle the power of competition and innovation to reduce costs and improve the quality of goods and services .
In the case of hospitals , the economic impetus to merge and buy up other medical providers got a shot @ @ @ @ @ @ @ Affordable Care Act .
With Obamacare giving millions more Americans health insurance coverage , hospitals naturally sought out ways to charge those insurance plans and Medicare the higher rates hospitals are allowed to charge compared to private practice doctors .
The result : 44 percent of American doctors now work at a hospital or in a hospital system .
It was just 25 percent in 2012 .
The disappearance of private practice doctors is the most troubling development of all for many of us who know that private practice doctors are basically small @ @ @ @ @ @ @ a key engine behind job expansion and innovation .

Sometimes, what looks like bad news comes along with a silver lining.
This is not one of those times.
For years, we've seen the evidence that hospital mergers generally contribute to rising health care costs in America. That's despite hospitals arguing otherwise.
But now, a new study in the New England Journal of Medicine rubs salt in the wound by showing how hospital mergers aren't improving health care quality and often make it worse.
To summarize: hospital consolidation in America has been contributing to higher costs, and now we find out it's also likely a major cause of overall health care quality going down.
But other than that Mrs. Lincoln, how did you like the play?
None of this should be a surprise, at least not for anyone who understands basic economics. Heavy consolidation and monopoly-like powers in any industry almost always stifle the power of competition and innovation to reduce costs and improve the quality of goods and services.
In the case of hospitals, the economic impetus to merge and buy up other medical providers got a shot of steroids from the enactment of the Affordable Care Act. With Obamacare giving millions more Americans health insurance coverage, hospitals naturally sought out ways to charge those insurance plans and Medicare the higher rates hospitals are allowed to charge compared to private practice doctors.
The result: 44 percent of American doctors now work at a hospital or in a hospital system. It was just 25 percent in 2012.
The disappearance of private practice doctors is the most troubling development of all for many of us who know that private practice doctors are basically small businessmen and women. Small business is a key engine behind job expansion and innovation.


cnbc--2020-01-22--Trump says he is serious about slapping tariffs on European cars if he cannot strike a trade deal

President Donald Trump said Tuesday that he is not bluffing about the possibility of slapping tariffs on European cars .
@ @ @ @ @ 'm going to put tariffs on them if they do n't make a deal that @ @ @ @ @ '' the president told The Wall Street Journal about ongoing trade negotiations with the European @ @ @ @ @ to put tariffs on a key European export — and once again ratchet up trade @ @ @ @ @ — has sparked backlash from European officials and companies .
The White House has repeatedly @ @ @ @ @ to put tariffs on cars from Europe .
Trump did not reveal to the newspaper @ @ @ @ @ decision .
The president made the comments Tuesday as government and business figures including German @ @ @ @ @ Commission President Ursula von der Leyen gathered at the World Economic Forum in Davos , @ @ @ @ @ von der Leyen on Tuesday after speaking to the Journal .

President Donald Trump said Tuesday that he is not bluffing about the possibility of slapping tariffs on European cars.
"They know that I'm going to put tariffs on them if they don't make a deal that's a fair deal," the president told The Wall Street Journal about ongoing trade negotiations with the European Union.
Trump's threat to put tariffs on a key European export — and once again ratchet up trade tensions with the economic bloc — has sparked backlash from European officials and companies. The White House has repeatedly delayed a decision on whether to put tariffs on cars from Europe. Trump did not reveal to the newspaper a deadline for his tariff decision.
The president made the comments Tuesday as government and business figures including German Chancellor Angela Merkel and European Commission President Ursula von der Leyen gathered at the World Economic Forum in Davos, Switzerland. Trump met with von der Leyen on Tuesday after speaking to the Journal.


cnbc--2020-01-21--Leaders at Davos doubt China and US will reach a phase 2 trade deal by end of Trump's term

President Donald Trump delivers a speech during a special address on the opening day of the World Economic Forum ( WEF ) in Davos , Switzerland , on Tuesday , Jan. 21 , 2020 .
DAVOS , Switzerland — Many business leaders at the World Economic Forum are n't convinced the latest round of trade negotiations between China and the U.S. will yield a `` phase two '' deal before the end of President Donald Trump 's first term .
The biggest potential stumbling blocks : U.S. tariffs on Chinese goods and Chinese pledges to buy more American products .
@ @ @ @ @ @ @ said Chinese trade officials have privately told business leaders they hope all tariffs will be removed before a new trade deal .
This executive declined to be named since the conversations were deemed private .
A phase two deal is expected to lead to a rollback of billions of dollars of tariffs that the U.S. first slapped on China in 2018 .
Trump has said he may want to wait until after the election to sign a phase two trade deal , and there has n't been a clear timeline from the White @ @ @ @ @ @ @ be reached .
Treasury Secretary Steven Mnuchin , who is in Davos with the president , told The Wall Street Journal the next agreement could remove some but not all of the tariffs .
Doubts about a second deal were likely to dominate conversations at the elite gathering in the Swiss Alps , particularly as business leaders talk with White House officials there and in the coming months as Trump pursues his reelection .
It is unclear how another China trade deal could be accomplished if Trump is n't reelected .
More than @ @ @ @ @ @ @ party 's nomination to take on Trump in November , including former Vice President Joe Biden , Sens .
Bernie Sanders and Elizabeth Warren , and former mayors Pete Buttigieg and Mike Bloomberg .
`` No one thinks it 's going to happen , '' Ian Bremmer , president of political consulting firm Eurasia Group , told CNBC after being asked where Davos attendees stand on future trade talks .
`` I really would be shocked to see a 'trade two ' deal get done before the election . ''
He noted one @ @ @ @ @ @ @ come down to China not buying as much as it promised .
A White House spokesperson did not return a request for comment .
The phase one deal demands that China increase its purchases of U.S. manufacturing , energy and agricultural goods and services by at least $ 200 billion over two years .
It also includes provisions to root out intellectual property theft and forced technology transfers .
During his speech Tuesday in Davos , Trump reaffirmed that tariffs on China will remain in place and noted that these trade barriers have @ @ @ @ @ @ @ These achievements would not have been possible without the implementation of tariffs , which we had to use .
And we 're using them on others , too , '' Trump said .
`` That is why most of our tariffs on China will remain in place during the 'phase two ' negotiations . ''
Citigroup CEO Michael Corbat said he believes the remaining tariffs on China will keep Beijing at the negotiating table .
But he noted that Trump is going to be under pressure by CEOs and congressional leaders to get @ @ @ @ @ @ @ gets reelected .
`` I do n't think we see phase two in the remainder of this term , but I think if he is reelected , certain people are going to try to hold his feet to the fire to deliver on this .
I think some Democrats are going to come back and say , 'You promised us this and you have n't done it , ' '' Corbat said on the sidelines of Davos .
Citigroup does business all over the world , including extensive work in China .
Ray @ @ @ @ @ @ @ Bridgewater Associates , said he , too , does n't see a phase two deal getting done by the end of Trump 's first term .
Yet Dalio also suggested he was n't convinced phase one was such a big accomplishment in the broader context of ongoing trade disputes between the two nations .
`` I think it 's such a tiny thing as it almost does n't matter , in the whole scope of the issues .
There are big issues , '' Dalio told CNBC outside the conference center .
AFL-CIO @ @ @ @ @ @ @ Trump 's updated North American trade deal , poured some additional cold water on phase two hopes .
The labor leader told CNBC he does not believe phase two is a priority for the Trump administration .

President Donald Trump delivers a speech during a special address on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 21, 2020.
DAVOS, Switzerland — Many business leaders at the World Economic Forum aren't convinced the latest round of trade negotiations between China and the U.S. will yield a "phase two" deal before the end of President Donald Trump's first term.
The biggest potential stumbling blocks: U.S. tariffs on Chinese goods and Chinese pledges to buy more American products.
One executive who is close to Trump said Chinese trade officials have privately told business leaders they hope all tariffs will be removed before a new trade deal. This executive declined to be named since the conversations were deemed private.
A phase two deal is expected to lead to a rollback of billions of dollars of tariffs that the U.S. first slapped on China in 2018. Trump has said he may want to wait until after the election to sign a phase two trade deal, and there hasn't been a clear timeline from the White House as to when an agreement can be reached.
Treasury Secretary Steven Mnuchin, who is in Davos with the president, told The Wall Street Journal the next agreement could remove some but not all of the tariffs.
Doubts about a second deal were likely to dominate conversations at the elite gathering in the Swiss Alps, particularly as business leaders talk with White House officials there and in the coming months as Trump pursues his reelection. It is unclear how another China trade deal could be accomplished if Trump isn't reelected. More than a dozen Democrats are vying for their party's nomination to take on Trump in November, including former Vice President Joe Biden, Sens. Bernie Sanders and Elizabeth Warren, and former mayors Pete Buttigieg and Mike Bloomberg.
"No one thinks it's going to happen," Ian Bremmer, president of political consulting firm Eurasia Group, told CNBC after being asked where Davos attendees stand on future trade talks. "I really would be shocked to see a 'trade two' deal get done before the election." He noted one of the hurdles to another agreement could come down to China not buying as much as it promised.


cnbc--2020-01-21--A 'preelection speech': Attendees react to Trump's Davos address

DAVOS , Switzerland — Some attendees at the World Economic Forum described President Donald Trump 's remarks as being a little too optimistic .
The U.S. president addressed politicians and business leaders at the WEF on Tuesday morning , where he took credit for what he called America 's `` stunning turnaround . ''
In his second speech as U.S. leader at Davos , Trump outlined how his `` America-first '' approach had worked and advised other countries to follow suit .
However , some of the audience members argued that Trump was actually talking to voters back home .
@ @ @ @ @ @ @ picture ( of the U.S. ) , '' Luiz Carlos Trabuco Cappi , chairman of Banco Bradesco , told CNBC .
`` What he came here to do was to speak to his electorate , '' Cappi said .
During his remarks , Trump mentioned how the United States is experiencing an `` economic boom '' and that the U.S. middle class is benefiting the most from it .
The International Monetary Fund said Monday it foresees a slight fall in growth for the U.S. economy .
It expects GDP growth to reach @ @ @ @ @ @ @ in 2020 and 1.7 % in 2021 .
`` It was a very normal speech in substance , but it was much more disciplined and less emotional , '' Harvard economist Kenneth Rogoff told CNBC about Trump 's address .
`` Some of the facts he cited were important , '' Rogoff said .
`` Some of the other facts he cited I do n't know ( from ) what planet they came from ; in particular that his administration has adopted policies that has made it easier for women to get child @ @ @ @ @ @ @ Trump claimed his administration has made `` extraordinary strides . ''
`` We are lifting up forgotten communities , creating exciting new opportunities , and helping every American find their path to the American Dream — the dream of a great job , a safe home , and a better life for their children , '' Trump said .
Mario Moretti Polegato , president of the shoe retailer Geox , said the speech was `` too optimistic '' and urged U.S. officials to bridge some of their differences with the European Union .
@ @ @ @ @ @ @ the U.S. has deteriorated since Trump was elected in 2016 and ended trade negotiations between both sides of the Atlantic .
Trump imposed tariffs on European aluminum and steel , approved additional duties on Europe regarding airline subsidies and has threatened levies on European carmakers and on French goods .
Alberto Alemanno , professor of EU law at HEC Business School in Paris , described the president 's speech as an `` endless , tedious and bombastic list of largely unsubstantiated claims that he hopes may secure him ( a ) second term @ @ @ @ @ @ @ `` been in campaign mode for three years . ''
`` Is there any speech of his that 's not a preelection speech ? ''
Rogoff added .
Nonetheless , other Davos participants interpreted the address as a strong message from the U.S. commander-in-chief .
`` It was a speech of a country 's leader , '' Ukrainian politician Vadym Novynskyi told CNBC .
`` This is actually what we lack in Ukraine .
...
So our country would demonstrate great results like Mr. Trump has just demonstrated . ''

President Donald Trump addresses the World Economic Forum at the congress centre in Davos, on January 21, 2020. Fabrice Coffrini | AFP | Getty Images
DAVOS, Switzerland — Some attendees at the World Economic Forum described President Donald Trump's remarks as being a little too optimistic. The U.S. president addressed politicians and business leaders at the WEF on Tuesday morning, where he took credit for what he called America's "stunning turnaround." In his second speech as U.S. leader at Davos, Trump outlined how his "America-first" approach had worked and advised other countries to follow suit. However, some of the audience members argued that Trump was actually talking to voters back home. "He painted a very golden big picture (of the U.S.)," Luiz Carlos Trabuco Cappi, chairman of Banco Bradesco, told CNBC. "What he came here to do was to speak to his electorate," Cappi said.
watch now
During his remarks, Trump mentioned how the United States is experiencing an "economic boom" and that the U.S. middle class is benefiting the most from it. The International Monetary Fund said Monday it foresees a slight fall in growth for the U.S. economy. It expects GDP growth to reach 2.3% in 2019, 2% in 2020 and 1.7% in 2021. "It was a very normal speech in substance, but it was much more disciplined and less emotional," Harvard economist Kenneth Rogoff told CNBC about Trump's address. "Some of the facts he cited were important," Rogoff said. "Some of the other facts he cited I don't know (from) what planet they came from; in particular that his administration has adopted policies that has made it easier for women to get child care." In his address, Trump claimed his administration has made "extraordinary strides." "We are lifting up forgotten communities, creating exciting new opportunities, and helping every American find their path to the American Dream — the dream of a great job, a safe home, and a better life for their children," Trump said.
watch now
Mario Moretti Polegato, president of the shoe retailer Geox, said the speech was "too optimistic" and urged U.S. officials to bridge some of their differences with the European Union. The trade relationship between the EU and the U.S. has deteriorated since Trump was elected in 2016 and ended trade negotiations between both sides of the Atlantic. Trump imposed tariffs on European aluminum and steel, approved additional duties on Europe regarding airline subsidies and has threatened levies on European carmakers and on French goods. Alberto Alemanno, professor of EU law at HEC Business School in Paris, described the president's speech as an "endless, tedious and bombastic list of largely unsubstantiated claims that he hopes may secure him (a) second term." Rogoff also said Trump has "been in campaign mode for three years." "Is there any speech of his that's not a preelection speech?" Rogoff added. Nonetheless, other Davos participants interpreted the address as a strong message from the U.S. commander-in-chief. "It was a speech of a country's leader," Ukrainian politician Vadym Novynskyi told CNBC. "This is actually what we lack in Ukraine. ... So our country would demonstrate great results like Mr. Trump has just demonstrated."