Asian Stocks Rebound After Trump Avoids Reigniting Trade War - U.S. News & World Report

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1. Asian Stocks Rebound After Trump Avoids Reigniting Trade War  U.S. News & World Report
2. Tariffs not top concern if Hong Kong's favored trade status with U.S. is revoked, says ex-Trump negotiator  CNBC
3. Hong Kong is collateral damage in Trump's new trade war with China  Nikkei Asian Review
4. To punish China, Trump begins to revoke Hong Kong trade privileges  POLITICO
5. China, Hong Kong Push Back Against Trump’s Trade Threats  Bloomberg
6. View Full Coverage on Google News

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Arkansas Exports Strong in 2019, Account for $6.2 Billion in Trade - University of Arkansas Newswire

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June 01, 2020

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Located in Rogers, the mission of the World Trade Center Arkansas is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services.

ROGERS, Ark. — Arkansas exports remained strong in 2019, accounting for $6.2 billion in trade while supporting over one-fourth of the state's workforce, according to a newly released report compiled by the World Trade Center Arkansas.

"Arkansas has a diverse economy, which propels the export ecosystem of the state. The trade partners and industry diversity, promote a fertile environment for small business exports in Arkansas." said Melvin Torres, the center's director of Western Hemisphere trade and author of the report.

"As of December 2019, international trade in Arkansas supported nearly 350,000 jobs, while Arkansas' total exports have increased by 18% since 2009 and reached 167 countries." Torres added

Canada and Mexico, respectively, continued to be the Natural State's top two trading partners. Exports to the two countries amounted to approximately $2.3 billion in goods, while the state had a combined positive trade balance (meaning Arkansas exported more than it imported) with both countries of $485 million. With the implementation of the United States-Mexico-Canada-Agreement on July 1, trade could increase even further between Arkansas' two largest trading partners.

France was the third largest partner after Mexico with a strong $711 million in exports, while Japan ($372 million) and China ($191 million) round out the state's top five export partners.

Close to half of Arkansas' exports — 47% — went to the Western Hemisphere. Europe followed with 26%, then Asia (21%) and the Middle East (2.5%) during 2019.

Meanwhile, agriculture, remains the backbone of Arkansas' economy. Arkansas farmers export approximately $3 billion in agriculture and agrifood every year. In 2019, the state remains the nation's top rice producer, but was also the second largest poultry producer in the U.S. and the fifth largest cotton exporter.

"Our Arkansas farmers and agribusinesses continue to be vital for state exports." Torres added

On the other hand, Arkansas' small businesses played a vital role in international trade. Nearly 80% of exporters in Arkansas were small businesses. Over the last few years, Arkansas trade-related jobs have grown six times faster than total employment, paid up to 18% more than similar jobs at non-exporting firms and were shown to be more secure.

"Small businesses account for the majority of exporters in our state, making it self evident that small businesses are critical drivers of exports in Arkansas." Torres added

However, like the rest of the world, Arkansas wasn't immune to the economic fallout of the COVID-19 pandemic, which began to emerge in early 2020. Torres said the pandemic will have an impact on Arkansas exports, but that data will be available and reflected in next year's report.

"During export year 2020, we expect to see a more diversified supply chain," Torres said. "This may include more manufacturing and sourcing outside of China as a result of COVID-19 pandemic supply chain disruptions."

Roxane Gomez, a trade specialist at the center, helped Torres compile the report.

The center's mission is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services. The center is part of the University of Arkansas and serves as the official international trade promotion arm for the Arkansas Economic Development Commission. For more information and valuable updates, please follow the center on Facebook and Twitter or subscribe to the World Trade Center Arkansas newsletter.

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Want A Repeat Of Bankrupt U.S. Trade Policy To Start Another Great Depression? Let Washington Withdraw America From The WTO - Forbes

New Study Finds Lack of Trade Integrity in Sudan's Global Trade, Oil and Gold Sectors - Global Financial Integrity

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May 31, 2020

FOR IMMEDIATE RELEASE

WASHINGTON, D.C. – Global Financial Integrity (GFI) has published a new study, “Sudan and Trade Integrity,” examining trade-related illicit financial flows in Sudan’s trade, crude oil and gold sectors. The analysis finds considerable gaps in trade integrity in all three areas of analysis and potential revenue losses of US$5.7 billion in global trade, US$279.4 million in trade in crude oil and US$575.2 million in trade in gold during the seven years covered in the report.

Trade integrity is defined as international trade transactions that are legal, properly priced and transparent. Developing countries lose billions of dollars a year in tax due to trade misinvoicing, corruption and criminal activity associated with a lack of trade integrity, which hampers abilities to mobilize funds to respond to the Covid-19 pandemic and achieve the UN 2030 Agenda.

The report includes regulatory analyses for the trade, crude oil and gold sectors, along with surveys conducted with leading Sudanese thought leaders in academia, government and civil society.

Tom Cardamone, President & CEO of GFI, issued the following statement:

“Given the tremendous hardships the people of Sudan have suffered over the years there is still significant optimism about the country’s future. The surveys are revealing in that Sudan’s problems are well understood and the remedies are obtainable. It is hoped that the scale of the losses revealed in this report will be a catalyst for national and international action.”

Notable findings for global trade (all figures in USD):

• Of the 374 bilateral trade relationships between Sudan and 70 of its trading partners examined between 2012-2018, GFI identified an estimated $30.9 billion in value gaps, which is the difference between what Sudan and each of its partners reported as the values for any given bilateral trade transaction.
• These estimated value gaps are equal to nearly 50% of Sudan’s total trade during this period with the 70 trading partners.
• The estimated revenue loss related to the value gaps for this period could potentially be as much as $5.7 billion.
• Ethiopia was among the top ten trading countries with the highest value gaps as a percentage of total trade with Sudan in all seven of the years studied, while Japan was among the top ten in six of the seven years examined.

Notable findings for crude oil (all figures in USD):

• Over the seven-year period 2012-2018, GFI detected a volume gap of 9 million barrels and equivalent to 80.1% of Sudan’s declared export volume.
• In terms of value, Sudan reported exports valued at $4.8 billion during the seven-year period, while in comparison its trading partners reported imports of $8.9 billion; a value gap of $4.1 billion and equal to 4% of Sudan’s declared exports by value.
• Assuming a conservative royalty rate of 5% along with the country’s corporate income tax rate of 35%, the Sudanese Government might have lost nearly $2 billion between 2012 and 2018. This represents an average annual loss of $279.4 million; more than three times the amount ($89.3 million) the Government spent on social benefits in 2017.

Notable findings for gold (all figures in USD):

• Between 2012-2018, there was a volume gap of 199,286 kilograms (200 tons) of gold, equivalent to 97% of Sudan’s declared gold exports by volume.
• Correspondingly, the total value gap equaled nearly $4.1 billion, equal to 7% of Sudan’s reported gold exports by value.
• With a value gap of $4.1 billion, and using annual royalty rates paid by gold producers, there was an estimated potential revenue loss of $575.2 million for the Government of Sudan over the period 2012-2018; which could cover the cost of thousands of additional teachers in a country where the average person receives only eight years of education.

GFI provided bespoke policy recommendations for the Government of Sudan to improve the trade integrity of the global trade, crude oil and gold sectors.

Read the full report here.

ABOUT GFI: Global Financial Integrity (GFI) is a Washington, D.C.-based think tank, producing high-caliber analyses of illicit financial flows, advising developing country governments on effective policy solutions and promoting pragmatic transparency measures in the international financial system as a means to global development and security.

CONTACT:

Maureen Heydt

Communications Coordinator

mheydt@nullgfintegrity.org

@IllicitFlows

###

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DC mayor urges calm after protests nearby the White House occur for second consecutive night - ABC17News.com

DC Mayor Muriel Bowser has issued a citywide curfew from 11 p.m. ET Sunday through 6 a.m. ET Monday following a weekend of unrest in the nation’s capital.

Skirmishes between groups of protesters and law enforcement flared across the city on Friday and Saturday night as tensions played out over the death of George Floyd, an unarmed black man in Minneapolis who was pinned down by police.

Bowser stressed Sunday that protesters have the right to exercise the First Amendment but should not “destroy our city” in the process.

“We’re sending a very clear message to people that they have a right to exercise their First Amendment rights, but not to destroy our city,” Bowser said in an interview on NBC’s “Meet the Press.” “We saw a level of just destruction and mayhem among some that was maddening.”

The DC Fire Department extinguished two vehicle fires in the area north of the White House Saturday night, as well as several small fires in the downtown area. Some protesters also put up graffiti on some buildings.

DC Chief of Police Peter Newsham said Sunday that the Metropolitan Police Department had arrested 17 people Saturday night and that 11 MPD officers were injured during the protests. None of the officers sustained life-threatening injuries, though one officer is undergoing surgery for multiple compound fractures to his leg after a protester threw a rock at him.

Newsham said that of the 17 people arrested, eight either live in DC or have some ties to the area.

He said police expect to make more arrests, as the department is asking private businesses to review their security footage, and will ask the DC community to help identify those who were damaging property or hurting people.

More than 60 US Secret Service personnel were injured from Friday night through Sunday morning near the White House, according to a statement from the Secret Service. At one point on Friday night, President Donald Trump was briefly taken to the underground bunker, according to a White House official and a law enforcement source.

To this point, Trump has adopted an uneven message on the demonstrations. While in some appearances he has taken a measured approach in calling for calm, on Twitter he has used violent rhetoric and seemed to suggest on Saturday his supporters stage a counter-protest outside the White House.

Bowser on Sunday urged Trump to help “calm the nation” and to stop sending “divisive tweets that are meant to harken back to the segregationist past of our country.”

On Saturday, Trump wrongly accused Bowser in a tweet of not allowing the DC Metropolitan Police Department to help the Secret Service keep control of the situation with protesters in Lafayette Square on Friday night.

That claim was later refuted by the US Secret Service who confirmed in a statement that the DC police department and US Park police were on the scene.

Bowser responded to Trump on Twitter Saturday, saying that the DC police department, “will always protect DC and all who are in it whether I agree with them (such as those exercising their First Amendment Right) or those I don’t (namely, @realdonaldtrump).”

The DC mayor said while Trump “hides behind his fence afraid/alone,” she stands with people “peacefully exercising their First Amendment Right after the murder” of Floyd and “hundreds of years of institutional racism.”

Trump also tweeted that protesters “would have been greeted with the most vicious dogs, and most ominous weapons, I have ever seen,” if they breached the fence outside the White House.

In a press conference Saturday, Bowser noted how Trump’s reference to the “ominous dogs” was “no subtle reminder” of segregationists who would attack African Americans with dogs.

She added that the city is working on cleaning up after protests and is coordinating with law enforcement “to ensure calm in our city.”

Newsham echoed that message Sunday, praising the behavior of police “incredibly responsible, heroic, in many instances,” and said he doesn’t expect Sunday night to be “a repeat of last night.”

Still, a law enforcement source tells CNN that US Park Police, in a situational report Sunday afternoon, informed law enforcement stationed in Lafayette Park that demonstrators have brought boxes of rocks to an evening protest across from the White House.

Another person was observed with a bat, the report stated. The information was shared with other law enforcement agencies on hand for the protest, the source said.

Earlier Sunday, White House executive office staff received an email urging them to stay away from the White House complex, if possible, due to “ongoing demonstrations.”

“Due to ongoing demonstrations, please avoid coming to the White House Complex today if at all possible,” the email reads, in part. “The White House currently maintains an elevated security posture.”

The email directs “essential” employees, who still need to work on the complex, to a specific entrance and to follow Secret Service instructions.

This story has been updated with additional developments.

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Kittle's potential extension could lead 49ers to trade Ford - NBCSports.com

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Are the 49ers married to quarterback Jimmy Garoppolo?

On the surface, his contract says "Yes."

But coach Kyle Shanahan and general manager John Lynch had a bit of a wandering eye this offseason when they pondered the idea of pursuing Tom Brady in free agency.

The 49ers ultimately decided to stick with Garoppolo, but it doesn't necessarily mean Shanahan and Lynch won't move on if they feel someone better is available.

ESPN's Dan Graziano took a look at all 32 NFL teams and ranked them based on their level of commitment to their current starting quarterback, and he ranked the 49ers at No. 26.

[49ERS INSIDER PODCAST: Listen to the latest episode]

Despite the fact that Garoppolo is 21-5 as a starter in the NFL and just led the 49ers to the Super Bowl, Graziano says it is "prove-it time" for the quarterback.

Why are the 49ers and Garoppolo so low considering he's under contract for three more seasons?

"It sounds crazy to call it "prove-it time" for a quarterback who's [21-5] as an NFL starter and just played in the Super Bowl," Graziano wrote. "But the fact is the way the 49ers structure their contracts, everyone is always in prove-it time.

"Garoppolo has a $23.8 million salary in 2020, but just $15.7 million of that is guaranteed, and the Niners owe him no more guaranteed money after 2020. The dead-money cap hit for cutting Garoppolo next offseason would be just $2.8 million.

"There's no reason to think they don't like Garoppolo or that he won't play out his entire contract there. But San Francisco's policy on flexibility doesn't exempt its quarterback, and the organization will always have the financial freedom to make a change at the position if it feels it needs to."

Garoppolo has his detractors, but most of the criticism is unwarranted. The results speak for themselves. Yes, he didn't play particularly well against the Kansas City Chiefs in Super Bowl LIV, but he's 28 years old and still has room to improve.

All that said, it shouldn't shock anyone if the 49ers were to part ways with Garoppolo in the next year or two. Lynch and Shanahan are in salary cap hell right now. Fitting a contract extension for All-Pro tight end George Kittle under the salary cap is proving to be difficult. DeForest Buckner, one of the leaders of the 49ers' stout defense, was traded because he had become too pricey.

So as committed as the 49ers might be to Garoppolo today, that could change as early as next offseason. They could let Garoppolo go and turn things over to Nick Mullens, who played well while Garoppolo recovered from a torn ACL in 2018. Or they could look to draft a quarterback next year.

Or Garoppolo could run it back in 2020, win the Super Bowl, and the 49ers could decide to keep him long-term while worrying about the salary cap gymnastics elsewhere.

[SPORTS UNCOVERED: Listen to the latest episode]

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Investors are dangerously downplaying coronavirus and trade risks, Wilmington Trust's Meghan Shue warns - CNBC

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Just as the economy is trying to reopen, the market is facing a new risk: Renewed trade tensions with China.

Wilmington Trust's Meghan Shue warns the threat is putting the strong rebound off the March 23 low in jeopardy.

"We are definitely worried about U.S.-China tensions escalating. We've seen them bubbling up in recent days and weeks," the firm's head of investment strategy told CNBC's "Trading Nation" on Friday. "There are a number of risks that I don't think are adequately priced into the market that could see a resurgence."

President Trump has been looking to take action against China in connection the coronavirus. He has been questioning the country's forthrightness regarding the severity of the outbreak.

On Friday, the President said he'd look to eliminate special treatment toward Hong Kong after China imposed a law that would prohibit political protests. 

"There's not much room on the political stage for anyone that is seen as going soft on China," said Shue, a CNBC contributor. "We think the tension with China is going to ramp up."

Shue, who went slightly underweight in stocks last winter as the market was selling off on virus fears, contends there's more trouble ahead on that front, too.

"We see the economic hit being very dramatic — probably 40% on GDP for the second quarter," said Shue. "It looks like the market to me is pricing in a pretty robust V-shaped recovery, and we just don't see that as likely."

The S&P 500, Dow and tech-heavy Nasdaq are coming off two months in a row of gains. With one month left in the second quarter, the market is seeing its best quarter since 1998.

According to Shue, the market's strong showing suggests investors are dangerously downplaying the risks.

"The market is priced pretty much to perfection right now. A lot has to go right," she said. "Any misstep on a number of fronts whether it's to the vaccines or businesses that are not able to reopen as many anticipate — that would be reason for the market to give back some of these gains."

Shue warns the virus remains the biggest overall risk to the market.  Even though that could wipe out gains, she is encouraging long-term investors with at least a 12 month time horizon to stay in the stock market.

"That doesn't mean you have to get overly negative on stocks. But it does mean that you should be properly diversified and not expect the market to go up in a straight line," she added.

Shorter-term, she believes the market's risk versus reward will continue to get murky.

"The market needs to be pricing in a little bit more of that downside risk for me to get really excited about stocks at the moment," Shue said. 

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Trump’s Sparring With China Revives Rare Earths Stock Trade - Bloomberg

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Trump’s Sparring With China Revives Rare Earths Stock Trade  Bloomberg

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Dismal cap and trade auction is another reason to nix high-speed rail project - The Pasadena Star-News

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The results of the latest California cap and trade auction are in, and they are not good —especially for the state’s high-speed rail project.

After February’s auction of pollution licenses brought $613 million to state coffers, the haul for the quarterly auction in May was a paltry $25 million. The low figure was expected due to the coronavirus pandemic and shelter-in-place orders reducing travel and thus the demand for emissions allowances.  But since the high-speed rail project is now primarily funded by its 25 percent share of cap and trade proceeds, unsuccessful auctions like this could ultimately stymie its funding and construction.

The high-speed rail project is under growing bipartisan pressure. In Feb. 2019, Gov. Gavin Newsom suggested scaling back the project during his State of the State Speech, but quickly walked that idea back. Next, multiple State Assembly members, Democrats from Southern California, floated the idea of diverting bullet train money to urban mass transit projects. This year, Assemblymembers Luz Rivas, D-Los Angeles, and Laura Friedman, D-Glendale, introduced a bill that would require the California High-Speed Rail Authority (CHSRA) to prioritize projects that increased ridership the most, which implicitly means those in densely populated Southern California.

Assemblymember Jim Patterson, R-Fresno, proposed legislation that would prevent the CHSRA from evading its mandate not to rely of operating subsidies. Most recently, Assemblymembers Vince Fong, R-Bakersfield, and Kevin Kiley, R-Sacramento, proposed a two-year halt to the high-speed rail project, with its cap-and-trade funds being diverted to education.

The legislators see that it is abundantly clear that the high-speed rail project will not deliver on what was promised to voters back in 2008. If it is ever completed, the bullet train will not be able to run without operating subsidies.  It will not carry passengers from San Francisco to Los Angeles in less than three hours. It will not meaningfully reduce greenhouse gas emissions.

Not only will it fail to deliver on those crucial guarantees, but the long-term trends may make the project’s forecast even bleaker. When voters approved the high-speed rail project, planners expected California’s population to reach 60 million by 2050, meaning that many more potential train passengers would be choosing among intercity transportation modes.

But in recent years, California population growth has been grinding to a halt. The most recent Department of Finance estimates show California’s population increased by just 0.2% last year. If that growth rate becomes the new normal, the state would only have 42 million people in 2050. And even 0.2% annual population growth may be an overestimate.  This year, California could well see a population decline as COVID-19 worries reduce immigration, and a growing number of tech workers are allowed to work remotely—and sometimes out of state.

Hopefully, COVID-19 is a distant memory long before California high-speed rail service commences – if it ever does – but ongoing fear of contagion and changes of habit could trigger a drop in mass transit use and travel patterns for the foreseeable future. To the extent that people take trips between 200 and 500 miles, they will more likely travel by car than share space with potentially infected strangers on planes, buses, or trains until there’s a vaccine for COVID-19.

Amtrak ridership declined 95% between March and April. In the Bay Area, BART is planning for 70% lower rail ridership in the 2020-2021 fiscal year, with only partial recovery in the following years. The International Air Transport Association says it doesn’t expect 2019 levels of air travel “to be exceeded until 2023” and even in 2025 global travel demand will still be “10% lower than the previous forecast” due to long-term impacts of the coronavirus pandemic.

Lower population growth and reduced propensity to travel should force similar downward revisions to the state’s high-speed ridership estimates, which were greatly inflated to begin with. And with significantly diminished cap-and-trade proceeds to fund the project, the time for a reckoning is at hand. The state legislature should demand updated and realistic cost and ridership projections. Since the costs, ridership figures, and timeline are wildly different than what voters approved in 2008, the electorate should then get to decide if, and how, the high-speed rail project continues.

Marc Joffe is a senior policy analyst at Reason Foundation. 

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EU urges post-Brexit trade deal amid coronavirus crisis - DW (English)

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Ahead of the fourth round of Brexit talks, the EU's chief negotiator says the economic fallout from COVID-19 makes a trade deal all the more vital. Michel Barnier also accused the UK of falling behind on its commitments.

The European Union's chief Brexit negotiator Michel Barnier on Sunday warned Britain there would be no post-Brexit trade agreement if it did not fulfill its commitments.

London "has been taking a step back – two steps back, three steps back – from the original commitments," Barnier told the British Sunday Times newspaper ahead of a fourth and last scheduled round of Brexit negotiations this week.

Last week, Barnier said the upcoming round of talks would be crucial in securing a post-Brexit trading deal with Britain.

Three previous rounds of talks between Britain and the EU have ended without any tangible results.

Read more: Brexit: Trade talks yield little progress as EU, UK dig heels in

Britain formally left the EU in January but is still in a transitional phase until the end of the year, during which the country is part of Europe's internal market and customs union.

New challenges posed by COVID-19

Barnier said that the economic damages wrought by the coronavirus pandemic made it all the more important for the EU and Britain to reach a new deal.

"If we don't get an agreement then that will have even more consequences. And then of course those will be added to the already very serious consequences of the coronavirus crisis," Barnier said.

"So I think that we have a joint responsibility in this very serious crisis, which affects so many families... with so many deaths, so many people sick, so many people unemployed... to do everything we can to reach an agreement and I very much hope that we will do so," he said, adding that London and Brussels could not afford to break off their nearly 50-year partnership without arrangements for the future.

Read more: Coronavirus lockdown impacts small business in Britain

British Prime Minister Boris Johnson has said he is unwilling to extend the EU-Britain talks past the current deadline.

The EU has reportedly offered Britain preferential trade terms if Johnson agrees to the major standards and regulations followed by the bloc.

The British government, however, argues that the whole point of Brexit was to give Britain the right to set its own rules.

Post-Brexit economic freedom

Britain's top negotiator David Frost reaffirmed on Wednesday that London "will always put a lot of emphasis on economic and political freedom at the end of this year and thus avoiding ongoing significant payments into the EU budget."

A British government source said that Brussels "needs to inject some political reality into its approach."

"What is clear is that the conventional approach will not get us much further," the source told the Mail on Sunday.

The post-Brexit transitional period could possibly be extended by two years at a summit in June. However, Johnson has strongly rejected this option.

Read more: German Foreign Minister Maas warns of hard Brexit as talks stall

shs/mm  (AFP, dpa)

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DC mayor urges calm after protests nearby the White House occur for second consecutive night - KRDO

DC Mayor Muriel Bowser said Sunday that protesters have the right to exercise the First Amendment but should not “destroy our city” after the nation’s capital experienced its second consecutive night of protests as well as some looting Saturday night.

“We’re sending a very clear message to people that they have a right to exercise their First Amendment rights, but not to destroy our city,” Bowser said in an interview on NBC’s “Meet the Press.” “We saw a level of just destruction and mayhem among some that was maddening.”

The DC Fire Department extinguished two vehicle fires in the area north of the White House Saturday night, as well as several small fires in the downtown area. Some protesters also put up graffiti on some buildings.

Bowser also urged President Donald Trump to help “calm the nation” and to stop sending “divisive tweets that are meant to harken back to the segregationist past of our country.”

On Saturday, Trump wrongly accused Bowser in a tweet of not allowing the DC Metropolitan Police Department to help the Secret Service keep control of the situation with protesters in Lafayette Square on Friday night. That claim was later refuted by the US Secret Service who confirmed in a statement that the DC police department and US Park police were on the scene.

Bowser responded to Trump on Twitter Saturday, saying that the DC police department, “will always protect DC and all who are in it whether I agree with them (such as those exercising their First Amendment Right) or those I don’t (namely, @realdonaldtrump).”

The DC mayor said while Trump “hides behind his fence afraid/alone,” she stands with people “peacefully exercising their First Amendment Right after the murder” of Floyd and “hundreds of years of institutional racism.”

Trump also tweeted that protesters “would have been greeted with the most vicious dogs, and most ominous weapons, I have ever seen,” if they breached the fence outside the White House.

In a press conference Saturday, Bowser noted how Trump’s reference to the “ominous dogs” was “no subtle reminder” of segregationists who would attack African Americans with dogs.

Bowser said Sunday that the city is working on cleaning up after protests and is coordinating with law enforcement “to ensure calm in our city.”

Skirmishes between groups of protesters and law enforcement flared Saturday evening nearby Trump’s residence for the second consecutive night as tensions played out over the death of George Floyd, an unarmed black man in Minneapolis who was pinned down by police.

Some protesters continued to gather in downtown Washington, DC, at Lafayette Square, which is across from the White House, into Saturday evening, but additional protesters were not being allowed in by police.

At times there were attempts by some protesters to enter the park. They were met with pepper spray or other mechanisms pushing them back.

Separately, a group marched and then rallied at the Lincoln Memorial. At one point onlookers reported pepper spray being used. The area around the memorial was then cleared.

DC Police and Park Police did not return a request for comment from CNN.

Law enforcement’s aim was to erect a large space between the protesters and the White House. Authorities wanted to prevent a large number of protesters from gathering at the barriers which are permanently set up in front of the White House.

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DC mayor urges calm after protests nearby the White House occur for second consecutive night - CNN

"We're sending a very clear message to people that they have a right to exercise their First Amendment rights, but not to destroy our city," Bowser said in an interview on NBC's "Meet the Press." "We saw a level of just destruction and mayhem among some that was maddening."

The DC Fire Department extinguished two vehicle fires in the area north of the White House Saturday night, as well as several small fires in the downtown area. Some protesters also put up graffiti on some buildings.

Bowser also urged President Donald Trump to help "calm the nation" and to stop sending "divisive tweets that are meant to harken back to the segregationist past of our country."

On Saturday, Trump wrongly accused Bowser in a tweet of not allowing the DC Metropolitan Police Department to help the Secret Service keep control of the situation with protesters in Lafayette Square on Friday night. That claim was later refuted by the US Secret Service who confirmed in a statement that the DC police department and US Park police were on the scene.

Bowser responded to Trump on Twitter Saturday, saying that the DC police department, "will always protect DC and all who are in it whether I agree with them (such as those exercising their First Amendment Right) or those I don't (namely, @realdonaldtrump)."

The DC mayor said while Trump "hides behind his fence afraid/alone," she stands with people "peacefully exercising their First Amendment Right after the murder" of Floyd and "hundreds of years of institutional racism."

Trump also tweeted that protesters "would have been greeted with the most vicious dogs, and most ominous weapons, I have ever seen," if they breached the fence outside the White House.

In a press conference Saturday, Bowser noted how Trump's reference to the "ominous dogs" was "no subtle reminder" of segregationists who would attack African Americans with dogs.

Bowser said Sunday that the city is working on cleaning up after protests and is coordinating with law enforcement "to ensure calm in our city."

Skirmishes between groups of protesters and law enforcement flared Saturday evening nearby Trump's residence for the second consecutive night as tensions played out over the death of George Floyd, an unarmed black man in Minneapolis who was pinned down by police.

Some protesters continued to gather in downtown Washington, DC, at Lafayette Square, which is across from the White House, into Saturday evening, but additional protesters were not being allowed in by police.

At times there were attempts by some protesters to enter the park. They were met with pepper spray or other mechanisms pushing them back.

Separately, a group marched and then rallied at the Lincoln Memorial. At one point onlookers reported pepper spray being used. The area around the memorial was then cleared.

DC Police and Park Police did not return a request for comment from CNN.

Law enforcement's aim was to erect a large space between the protesters and the White House. Authorities wanted to prevent a large number of protesters from gathering at the barriers which are permanently set up in front of the White House.

CNN's Chris Turner, Alex Marquardt and Greg Clary contributed to this report.

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EU trade commissioner Hogan mulling candidacy for WTO chief - Reuters

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BRUSSELS (Reuters) - European trade commissioner Phil Hogan is considering putting his name forward as a candidate to be the next director-general of the World Trade Organization, his spokesman said on Sunday.

FILE PHOTO: European Trade Commissioner-designate Phil Hogan of Ireland attends his hearing before the European Parliament in Brussels, Belgium September 30, 2019. REUTERS/Yves Herman/File Photo

The WTO post will become vacant at the end of August after incumbent Roberto Azevedo said he would step down a year early.

The next director-general will be faced with intensifying U.S.-China tensions and rising protectionism, exacerbated by the COVID-19 pandemic. The new chief will also have to push forward talks to limit overfishing and set new rules on e-commerce.

Hogan, an Irishman, has been a European commissioner since 2014, initially responsible for agriculture and since late 2019 for trade.

He told the European Parliament on Thursday that it would be “wonderful” if a European became the next head of the Geneva-based trade body.

Two other potential European candidates are Spanish foreign minister Arancha Gonzalez Laya and Dutch trade minister Sigrid Kaag.

The issue could become a central topic of a meeting of EU ministers responsible for trade provisionally set for June 9. Europe could then put forward a single candidate.

WTO members can nominate their own nationals as candidates from June 8 to July 8.

With three of the previous six directors-general from Europe and the others from Thailand, Brazil and New Zealand, there is some pressure to choose a leader from Africa, with four names from the continent being cited.

Some in Europe though say that there is an unwritten rule at the WTO that the director-general post should alternate between the developed and developing world. Azevedo is Brazilian.

There is also a general consensus that the body itself needs reform, with critics saying it must take into account the rise of China and state-owned enterprises.

“He’s a strong supporter of a reform agenda for the WTO,” Hogan’s spokesman said.

Reporting by Philip Blenkinsop; Editing by Giles Elgood

Our Standards:The Thomson Reuters Trust Principles.

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Third Circuit Got it Right on Trade Secret Standing | New Jersey Law Journal - Law.com

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The Third Circuit has now added its voice to that of the Fourth and Tenth Circuits in holding on April 30, 2020, in Advanced Fluid Sys., Inc. v. Huber, No. 19-1722, 2020 WL 2078298 (3rd Cir. Apr. 30, 2020), applying Pennsylvania law, that ownership of a trade secret is not a prerequisite for a claim under the Uniform Trade Secrets Act, and that possession is sufficient. It adopted the reasoning of the Fourth Circuit decision in DTM Research, L.L.C. v. AT & T Corp., 245 F.3d 327 (4th Cir. 2001). The Tenth Circuit has also followed DTM in applying Oklahoma law and finding ownership was not a prerequisite. Gaedeke Holdings VII LTD v. Baker, 683 F. App’x 677, 684 (10th Cir. 2017). We agree with this result, and urge that this be the view for New Jersey courts to follow, as the issue does not appear to have arisen expressly here. Trade secrets are frequently licensed, and these decisions give the licensee, as well as the owner, the right and standing to protect their secrecy and be compensated for unlawful disclosure and use.

Factually, the Advanced Fluid court referred to a “sorry story of disloyalty and deception piled upon deception resulted in verdicts against the wrongdoers,” which result the court found “entirely justified.” Defendant Huber “stole confidential information” from his employer Advanced Fluid to “ingratiate himself” with a competitor (his second employer), and then created his own company to compete against his both his former and subsequent employer, winning the bid for the project issued by another defendant, thereby deceiving both of his employers and benefiting his new company.

Of relevance was that the trade secret at issue was confidential information deemed as such that was imparted to the Advanced Fluid by a contractor for a hydraulic system for a NASA rocket launch. The main challenge to the verdict on appeal by Huber was that plaintiff could not prevail because it did not “own” the trade secret. The court followed the conclusion of DTM that lawful possession and not “ownership in its traditional sense” was sufficient, since “the proprietary aspect of a trade secret flows, not from the knowledge itself, but from its secrecy, because it is the secret aspect of the knowledge that provides value to the person having the knowledge. … While the information forming the basis of a trade secret can be transferred, as with personal property, its continuing secrecy provides the value, and any general disclosure destroys the value.” (internal punctuation omitted). Advanced Fluid noted that requiring per se ownership fails to take into account the “substantial interest that lawful possessor of the secrets have in the value of that secrecy,” and further, the statute did not impose an ownership requirement.

The New Jersey Trade Secrets Act, which in certain places deviates from the uniform act, nonetheless is silent on the issue of ownership. In Rycoline Prod., Inc. v. Walsh, 334 N.J. Super. 62 (App. Div. 2000), the court prefaced its statement of the elements of the claim by stating that to prevail on a misappropriation of trade secret claim in New Jersey “a trade secret owner must establish” the specified items. It did not address whether possession was enough as that was not a fact before it.

In short, the issue does not appear to have been addressed head on in New Jersey. The Advanced Fluid result is the right one. To the extent that the New Jersey Uniform Trade Secrets Act “supersede[s] conflicting tort, restitutionary, and other law of this State providing civil remedies for misappropriation of a trade secret,” N.J.S.A. § 56:15-9, it does not preclude other common law or statutory remedies. It would make no sense to preclude the possessor of a trade secret, transmitted pursuant to a confidentiality provision as part of that arrangement, to be without a remedy under the act where it may well be obligated to indemnify and defend its partner who transmitted that secret to it. It is only a matter of time before it is raised, and we urge the New Jersey courts to follow what appears to be a majority (and growing) position in support of relief for the possessor, and not just the owner, of the trade secret.

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Dismal cap and trade auction is another reason to nix high-speed rail project - The Daily Breeze

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The results of the latest California cap and trade auction are in, and they are not good —especially for the state’s high-speed rail project.

After February’s auction of pollution licenses brought $613 million to state coffers, the haul for the quarterly auction in May was a paltry $25 million. The low figure was expected due to the coronavirus pandemic and shelter-in-place orders reducing travel and thus the demand for emissions allowances.  But since the high-speed rail project is now primarily funded by its 25 percent share of cap and trade proceeds, unsuccessful auctions like this could ultimately stymie its funding and construction.

The high-speed rail project is under growing bipartisan pressure. In Feb. 2019, Gov. Gavin Newsom suggested scaling back the project during his State of the State Speech, but quickly walked that idea back. Next, multiple State Assembly members, Democrats from Southern California, floated the idea of diverting bullet train money to urban mass transit projects. This year, Assemblymembers Luz Rivas, D-Los Angeles, and Laura Friedman, D-Glendale, introduced a bill that would require the California High-Speed Rail Authority (CHSRA) to prioritize projects that increased ridership the most, which implicitly means those in densely populated Southern California.

Assemblymember Jim Patterson, R-Fresno, proposed legislation that would prevent the CHSRA from evading its mandate not to rely of operating subsidies. Most recently, Assemblymembers Vince Fong, R-Bakersfield, and Kevin Kiley, R-Sacramento, proposed a two-year halt to the high-speed rail project, with its cap-and-trade funds being diverted to education.

The legislators see that it is abundantly clear that the high-speed rail project will not deliver on what was promised to voters back in 2008. If it is ever completed, the bullet train will not be able to run without operating subsidies.  It will not carry passengers from San Francisco to Los Angeles in less than three hours. It will not meaningfully reduce greenhouse gas emissions.

Not only will it fail to deliver on those crucial guarantees, but the long-term trends may make the project’s forecast even bleaker. When voters approved the high-speed rail project, planners expected California’s population to reach 60 million by 2050, meaning that many more potential train passengers would be choosing among intercity transportation modes.

But in recent years, California population growth has been grinding to a halt. The most recent Department of Finance estimates show California’s population increased by just 0.2% last year. If that growth rate becomes the new normal, the state would only have 42 million people in 2050. And even 0.2% annual population growth may be an overestimate.  This year, California could well see a population decline as COVID-19 worries reduce immigration, and a growing number of tech workers are allowed to work remotely—and sometimes out of state.

Hopefully, COVID-19 is a distant memory long before California high-speed rail service commences – if it ever does – but ongoing fear of contagion and changes of habit could trigger a drop in mass transit use and travel patterns for the foreseeable future. To the extent that people take trips between 200 and 500 miles, they will more likely travel by car than share space with potentially infected strangers on planes, buses, or trains until there’s a vaccine for COVID-19.

Amtrak ridership declined 95% between March and April. In the Bay Area, BART is planning for 70% lower rail ridership in the 2020-2021 fiscal year, with only partial recovery in the following years. The International Air Transport Association says it doesn’t expect 2019 levels of air travel “to be exceeded until 2023” and even in 2025 global travel demand will still be “10% lower than the previous forecast” due to long-term impacts of the coronavirus pandemic.

Lower population growth and reduced propensity to travel should force similar downward revisions to the state’s high-speed ridership estimates, which were greatly inflated to begin with. And with significantly diminished cap-and-trade proceeds to fund the project, the time for a reckoning is at hand. The state legislature should demand updated and realistic cost and ridership projections. Since the costs, ridership figures, and timeline are wildly different than what voters approved in 2008, the electorate should then get to decide if, and how, the high-speed rail project continues.

Marc Joffe is a senior policy analyst at Reason Foundation. 

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Dismal cap and trade auction is another reason to nix high-speed rail project - Long Beach Press Telegram

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The results of the latest California cap and trade auction are in, and they are not good —especially for the state’s high-speed rail project.

After February’s auction of pollution licenses brought $613 million to state coffers, the haul for the quarterly auction in May was a paltry $25 million. The low figure was expected due to the coronavirus pandemic and shelter-in-place orders reducing travel and thus the demand for emissions allowances.  But since the high-speed rail project is now primarily funded by its 25 percent share of cap and trade proceeds, unsuccessful auctions like this could ultimately stymie its funding and construction.

The high-speed rail project is under growing bipartisan pressure. In Feb. 2019, Gov. Gavin Newsom suggested scaling back the project during his State of the State Speech, but quickly walked that idea back. Next, multiple State Assembly members, Democrats from Southern California, floated the idea of diverting bullet train money to urban mass transit projects. This year, Assemblymembers Luz Rivas, D-Los Angeles, and Laura Friedman, D-Glendale, introduced a bill that would require the California High-Speed Rail Authority (CHSRA) to prioritize projects that increased ridership the most, which implicitly means those in densely populated Southern California.

Assemblymember Jim Patterson, R-Fresno, proposed legislation that would prevent the CHSRA from evading its mandate not to rely of operating subsidies. Most recently, Assemblymembers Vince Fong, R-Bakersfield, and Kevin Kiley, R-Sacramento, proposed a two-year halt to the high-speed rail project, with its cap-and-trade funds being diverted to education.

The legislators see that it is abundantly clear that the high-speed rail project will not deliver on what was promised to voters back in 2008. If it is ever completed, the bullet train will not be able to run without operating subsidies.  It will not carry passengers from San Francisco to Los Angeles in less than three hours. It will not meaningfully reduce greenhouse gas emissions.

Not only will it fail to deliver on those crucial guarantees, but the long-term trends may make the project’s forecast even bleaker. When voters approved the high-speed rail project, planners expected California’s population to reach 60 million by 2050, meaning that many more potential train passengers would be choosing among intercity transportation modes.

But in recent years, California population growth has been grinding to a halt. The most recent Department of Finance estimates show California’s population increased by just 0.2% last year. If that growth rate becomes the new normal, the state would only have 42 million people in 2050. And even 0.2% annual population growth may be an overestimate.  This year, California could well see a population decline as COVID-19 worries reduce immigration, and a growing number of tech workers are allowed to work remotely—and sometimes out of state.

Hopefully, COVID-19 is a distant memory long before California high-speed rail service commences – if it ever does – but ongoing fear of contagion and changes of habit could trigger a drop in mass transit use and travel patterns for the foreseeable future. To the extent that people take trips between 200 and 500 miles, they will more likely travel by car than share space with potentially infected strangers on planes, buses, or trains until there’s a vaccine for COVID-19.

Amtrak ridership declined 95% between March and April. In the Bay Area, BART is planning for 70% lower rail ridership in the 2020-2021 fiscal year, with only partial recovery in the following years. The International Air Transport Association says it doesn’t expect 2019 levels of air travel “to be exceeded until 2023” and even in 2025 global travel demand will still be “10% lower than the previous forecast” due to long-term impacts of the coronavirus pandemic.

Lower population growth and reduced propensity to travel should force similar downward revisions to the state’s high-speed ridership estimates, which were greatly inflated to begin with. And with significantly diminished cap-and-trade proceeds to fund the project, the time for a reckoning is at hand. The state legislature should demand updated and realistic cost and ridership projections. Since the costs, ridership figures, and timeline are wildly different than what voters approved in 2008, the electorate should then get to decide if, and how, the high-speed rail project continues.

Marc Joffe is a senior policy analyst at Reason Foundation. 

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Three power outages occur in Pullman – The Daily Evergreen - The Daily Evergreen

Reason behind outages under investigation; first began around 7:30 p.m.

Pullman residents experienced three power outages during a thunderstorm Saturday evening.

The Avista Outage Map reported three outages in Whitman County, all in Pullman. The first outage began at 7:33 p.m., the second at 8:03 p.m. and the third at 8:45 p.m. 

Fewer than five customers were affected by each of the outages, according to the website. 

The reasons behind the outages are under investigation, according to the website. 

A crew has been assigned to restore the power. The website estimates power will be restored by midnight tomorrow. 

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China, Hong Kong Push Back Against Trump’s Trade Threats - Bloomberg

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[unable to retrieve full-text content]

1. China, Hong Kong Push Back Against Trump’s Trade Threats  Bloomberg
2. To punish China, Trump begins to revoke Hong Kong trade privileges  POLITICO
3. Stocks Turn Positive After Trump Keeps Phase One China Trade Deal Intact  Forbes
4. Trump looks to revoke Hong Kong's special trade status  Vox.com
5. Trump to end Hong Kong’s special trade status  Axios
6. View Full Coverage on Google News

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Mosquito Spraying to Occur in Towaco and Montville - TAPinto.net

MONTVILLE, NJ – The Morris County Mosquito Commission will be spraying in the township due to an increase in the adult mosquito population, it was reported on their website.

ATVs will be in the woods spraying Peace Valley Road between the hours of 5:30 a.m. and 9 a.m. on Monday, June 1.

In addition, they will be using a truck-mounted sprayer to treat the streets on June 1 between the hours of 5:00 a.m. and 7:00 a.m. at the following locations:

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• Pine Brook Road (between Horseneck Road and Two Bridges Road)
• Beverly Drive
• Brittany Road
• Fox Hollow Road
• Longview Drive
• Lorraine Drive
• Michelle Way
• Midvale Ave
• Nicholas Street
• Peace Valley Road
• Rochon Court
• Tamarack Lane
• Weldon Place
• Willard Lane

The commission will be using Anvil 2+2, active ingredient Sumithrin.

To request spraying in your area, or for more information, go to: Mosquito.

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Traffic disruptions to occur as Town of Yarmouth begins Glebe Street sewer separation project - SaltWire Network

YARMOUTH, N.S. —

Work is set to begin to replace a 100-year-old combined sewer system with separate storm and sanitary services in the Town of Yarmouth.

This is a green project that will see rainwater separated from sewer, reducing the load on the town’s wastewater treatment plant.
The work will take place in two phases. Phase 1 will affect Glebe Street from top to bottom, as well as areas on Main, Water, and Parade Streets that intersect with Glebe.

Glebe Street runs alongside the Yarmouth town hall between Main and Water streets.

Phase 2 will be a similar project on Parade Street, scheduled for spring of 2021.

"This is a major infrastructure project involving the full excavation of Glebe Street," says the town in a media release. "This work will take a number of weeks to complete and will involve significant disruptions, closures, and detours for vehicle and pedestrian traffic in the area. Water services will also be affected, but temporary water will be set up by the contractor as needed."

Work will begin on Wednesday, June 3, with two exploratory digs on Main Street. Detours will be in place as needed for these digs, so the town says to expect minor delays.

In coming weeks, work will take place at the outfall at the water's edge, proceed to Water Street, then up Glebe Street and across Main Street to Parade Street.
Frequent updates and more information will follow from the town as the work plans unfold.

Work will begin on Wednesday, June 3rd, with two exploratory digs on Main Street

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Amazon Echo trade-in gets you cash for old Alexa devices. Here's how to do it - CNET

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Trade in your old Echo for a newer 3rd generation Echo model.

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Want a new Amazon Echo for a cheaper price? Consider this: If you already own an older Echo, Amazon will pay you cold, hard, cash for it. And you can even trade it in for an additional discount towards a current model. 

All you have to do is ship your outdated gear to Amazon. How deep a price cut and cash amount you'll get depends on a few factors. These include the specific Echo you have, and how recently you bought it. Here's how it works.

Read more: 7 used items you should never buy or sell

One Amazon Echo for another 

There are a few big incentives to use Amazon trade-in. The first is money. Amazon will appraise the value of your device, then supply that dollar amount as an Amazon gift card. You can spend that cash on anything in the retailer's massive product library. You can put this money towards purchasing a new Echo speaker, too.

Secondly, Amazon will cut 25% off the list price of "qualifying" new Echo gadgets. Also welcome is that Amazon won't hit you with extra fees, and shipping your old Echo back to them is free.

Amazon's trade-in program does have some drawbacks. The most annoying is that Amazon sets the price, and you don't. Worse, Amazon's price is typically much less than what you paid originally.

Now playing: Watch this: Amazon Echo Studio and new Echo Dot are big on sound...

2:09

Amazon trade-in tips

• You'll get the most for your money if your Echo units are functional, with minimal damage.
• If there is damage, you might get less money after Amazon appraises the item.
• It's free to ship trade-in devices back.
• Only select Echo products are eligible for trade-in.

How much will Amazon pay?

Here's a list of Echo devices that currently are part of Amazon's trade-in program, and how much you'll get for them:

Can I sell my Echo somewhere else?

While many internet resellers specialize in tech gadgets, few deal in smart speakers. One website, Swappa, does provide a market for Amazon Echo products. Whatever price you set though, there's no guarantee there will be any takers, so you may experience some back and forth while you try to entice a buyer. Facebook Marketplace and eBay are other options, too. If you're looking for more options, here are the best places to sell your old electronics.

13 cool new Echo products to add to your Amazon wish list

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How MLB's shutdown makes it less likely the Rockies trade superstar Nolan Arenado - CBS Sports

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It feels like a lifetime ago that Rockies star Nolan Arenado said he felt the organization showed him "a lot of disrespect" over the winter. That was back in January. Arenado pledged to stop publicly discussing his feelings soon thereafter, then Major League Baseball shut down during the COVID-19 pandemic, and trade rumors were suddenly the last thing on everyone's mind.

For the first time since MLB shut down two months ago, there appears to be very real momentum toward starting the 2020 season. MLB and the MLBPA are discussing a various of shutdown-related issues, chief among them safety, and the hope is Opening Day can take place in early July. If that happens, it won't be long before we start thinking about trades again.

"There's a lot of disrespect from people there that I don't want to be a part of," Arenado said in January, less than a year after signing an eight-year contract extension worth $260 million. He is not upset about the contract though. Hardly. Arenado is upset the Rockies did next to nothing over the winter to improve a roster that went 71-91 a year ago, including 27-52 in their final 79 games.

To recap, here are Colorado's offseason transactions:

That's it. Mujica, who has never pitched in the big leagues, was the team's only major league free agent signing. Oberg's extension bought out one free agent year with an option for another free agent year. Story's extension bought out his final two arbitration years and no free agent years. The minor league deals? Every team gives out a dozen or so of those each winter.

From Arenado's perspective, he committed to the Rockies after the team went to the postseason in back-to-back years for the first time in franchise history in 2017-18, then the front office did basically nothing to improve following a poor 2019 season. He could've become a free agent this past offseason but didn't, and that's how they plan to move forward with him him? I can understand feeling disrespected.

"With the season coming up and spring training on the horizon, we are going to start focusing on that," Rockies GM Jeff Bridich said in January. "We have listened to teams regarding Nolan and really nothing has come of it. We are going to move forward pretty much as we expected -- with Nolan in the purple and black and as our third baseman. So we can put this to bed and collectively look forward to the upcoming season and work toward that."

Nolan Arenado's days as a Rockie may no longer be numbered. USATSI

Arenado's contract gives him a lot of leverage. He has a full no-trade clause, so he's in total control of his future, and the contract includes an opt-out after 2021. Triggering the opt out would leave five years and $164 million on the table. Opting out seemed crazy a year ago. Free agency rebounded in a huge way this past offseason though. Using the opt out seemed plausible back in January.

When Arenado made his comments in January, his situation was very similar to Giancarlo Stanton's with the Marlins. Like Stanton three years ago, Arenado is upset with the team's direction, he has a full no-trade clause, only a handful of teams can afford to take on his contract, and the opt out allows him to walk away in the not-too-distant future. "Trade me now or I walk soon," basically.

Stanton used his leverage to facilitate a trade to the Yankees -- Stanton rejected trades to the Cardinals and Giants before going to New York, remember -- and the Marlins received little in return for the reigning NL MVP. Starlin Castro, two mid-range prospects, and a ton of salary relief. That's it. Arenado had the leverage to paint the Rockies into the same corner Stanton painted Miami.

That was the situation in January and a lot -- a lot -- has changed since then. Arenado reported to spring training and, while he said all the right things at the time, it was clear he was still frustrated with the organization. Here's what he told Tim Brown of Yahoo! Sports in February:

"To be honest with you, there is a disconnect right now, right?" he said Friday. "There's a little bit of a disconnect. But that doesn't mean it can't be fixed. It doesn't mean that I'm not gonna go out there and play hard for my teammates. Or be a negative presence in that locker room. That's just not me. It's not how I'm going to do things. I'm not going to be there trying to show them I don't want to be there. I'm not going to be that way. That's not fair. That's drawing attention to me.

"I know there's already been attention toward me right now. That's not really my style. I'm not trying to put my teammates in a bad position. You know? That's not really my thing. They know I'm going to go out there and play hard. There is a little bit of a disconnect for sure. But, like I said, that doesn't mean I can't go out there and play hard. That doesn't mean that I'm going to have a bad attitude. It means there's a disconnect. And I've got to move on from it. I don't need to surround myself with the negativity, because that's going to factor in my performance."

A month later the COVID-19 pandemic forced baseball to close its doors and they remain shut to this day. Even if the 2020 season can start in July as hoped, the sport's financial landscape has changed dramatically. The owners want players to take additional pay cuts and teams are furloughing baseball operations employees because there is no revenue coming in at the moment.

The financial recovery will take years. Even after we get the thumbs up to hold large public gatherings, we won't see full stadiums right away because some folks will be wary of crowds. MLB will surely seek out other revenue streams (expansion?) in the interim, but it'll be a while until gate revenue returns to normal. It could be a few years before MLB tops $10 billion in revenue again.

The owners will pass the financial burden down to the players. Already one owner has instructed his baseball operations people to cut payroll next season ...

... and I'd bet the farm on other owners having done the same. Free agency will not be as robust in future years and even arbitration could take a hit as teams get their payroll in order. There's already speculation we could see widespread non-tenders this winter. Why pay seven figures for your sixth or seventh reliever when you can find someone to do the same job for the league minimum?

The shutdown and the long-term financial impact has changed the Arenado trade calculus. Suddenly opting out after next season doesn't look so appealing. Arenado will turn 31 shortly after Opening Day 2021, and teams are hesitant to pay big money to players on the wrong side of 30. It's much harder to see a soon-to-be 31-year-old Arenado beating $164 million now than it was in January.

With the opt out no longer in play, or at least a less viable option, the Rockies suddenly have a little less urgency to move Arenado. They don't have to worry about him walking away in two years. He still controls his destiny via the no-trade clause, and no team wants an unhappy superstar, but the opt out is no longer forcing their hand. The Rockies have a clearer path to keeping Arenado.

Furthermore, even if the Rockies want to trade Arenado, moving that contract will be much more difficult now than it was before the shutdown. Teams are going to cut payroll going forward and taking on a player making more than $30 million a year, even a great player like Arenado, may no longer be feasible. Finding a team willing to take on that contract might very well be impossible.

Rockies GM Jeff Bridich has to mend fences with Nolan Arenado. USATSI

I see two possible outcomes now. One, the Rockies trade Arenado. They would almost certainly have to eat money to facilitate a trade, potentially a lot of it, and they'd still have to navigate his no-trade clause, but it's doable. Paying Arenado a lot of money to play for another team doesn't seem like a great idea. It can be done though. Lots of teams pay players to play elsewhere.

And two, the Rockies keep Arenado, and the two sides figure out a way to coexist. He's a competitor and he wants to win -- "I have seven years left on my deal. I don't know how it's all going to turn out. And I want to win," Arenado told Brown in February -- and the Rockies will have to do something to improve the roster around him to make it happen, because as constituted, it ain't good.

Even if the 2020 season gets wiped out and Arenado does not receive his $35 million salary this year, he will have still banked close to $100 million in player contracts when his opt out decision arrives. Perhaps that's enough to say, "Screw it, I'm going to opt out even if I don't match the $164 million I have coming to me because I want to go somewhere I can win." It's not impossible.

I would bet against it though. Money still talks. The shutdown has likely eliminated the opt out as a viable option and Arenado is no longer in position to force his way out. That backdoor has been slammed shut. The Rockies can try to trade him, but the money will be an obstacle, and keeping him long-term is more realistic. It's preferable, really. You should want to keep a player like Arenado.

Once MLB and the MLBPA figure out a way to safely play baseball this season, the Rockies and Arenado can begin to repair their relationship. If they're unable to mend fences, they can move onto Plan B, which is a trade. The shutdown complicates that though. The sport's financial landscape has changed dramatically. The two sides may have no choice but to make it work now.

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How MLB's shutdown makes it less likely the Rockies trade superstar Nolan Arenado - CBS Sports
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