U.S.-China Relations Have Actually Deteriorated; Plus Donald Trump Slips as Bidens Catch a Break
Author: Greg Valliere
June 21, 2023
THE WALL STREET JOURNAL and others have reported that China has reached an agreement with Cuba to build a military facility on the island that will be located about 100 miles from Florida. China reportedly has had a spy base in Cuba since 2019.
BOTH SIDES AGREED TO TALK MORE and look into ways to slow fentanyl smuggling into the U.S., but otherwise there were no significant agreements. Responding to reports of a Chinese military base in Cuba, Blinken said this morning that “we will protect our homeland, we will protect our interests.” The presence of Russian missiles in Cuba led to a crisis in 1962.
* * * * *
THE AFFABLE BRET BAIER is hardly a pit bull, but his interrogation of Donald Trump this week was a professional hit job. In their Fox News interview, Trump fell hard; he appeared to incriminate himself on his handling of top secret documents.
THERE’S A REASON WHY ATTORNEYS tell clients to refrain from commenting on their cases, but Trump cannot be muzzled. He described his handling of the documents, making life far more difficult for his lawyers — just as new polls showed Trump slipping against GOP challengers.
TRUMP IS STILL THE FRONT-RUNNER FOR THE GOP nomination, but Florida Gov. Ron DeSantis has righted the ship; he and his wife have enjoyed improving publicity. Trump dug a hole for himself this week, as more indictments loom in other cases. If there’s a political theme this summer, we predict it will be “Trump fatigue,” and Baier exploited it.
* * * * *
HUNTER BIDEN, NOT QUITE OFF THE HOOK: You could see this one coming — Hunter Biden got a slap on the wrist. Republicans we talked with yesterday were furious and pledged to continue probing how he earned his money — and from whom. The handgun charge always looked like a misdemeanor but the tax allegations still look serious.
THE BIDEN FAMILY SHOULD BE HAPPY: If House Republicans continue to investigate huge payments from foreign countries, the Bidens can essentially say: “This issue is over, it was resolved in June of 2023. Let’s move on.” All of the details will be disclosed eventually, perhaps in a book later this decade. But a few more House hearings will get scant attention from the media, which isn’t particularly interested in digging into this.
The views expressed in this blog are provided as a general source of information based on information available as of the date of publication and should not be considered as personal investment advice or an offer or solicitation to buy and/or sell securities. Speculation or stated believes about future events, such as market or economic conditions, company or security performance, or other projections represent the beliefs of the author and do not necessarily represent the view of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change and AGF accepts no responsibility for individual investment decisions arising from the use of or reliance on the information contained herein. Any financial projections are based on the opinions of the author and should not be considered as a forecast. The forward looking statements and opinions may be affected by changing economic circumstances and are subject to a number of uncertainties that may cause actual results to differ materially from those contemplated in the forward looking statements. The information contained in this commentary is designed to provide you with general information related to the political and economic environment in the United States. It is not intended to be comprehensive investment advice applicable to the circumstances of the individual.
AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). AGFA and AGFUS are registered advisors in the U.S. AGFI is a registered as a portfolio manager across Canadian securities commissions. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. The subsidiaries that form AGF Investments manage a variety of mandates comprised of equity, fixed income and balanced assets.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.
AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.
Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.
For further information, please visit AGF.com.
©2025 AGF Management Limited. All rights reserved.
