In other news, the Federal Reserve is unlikely to cut interest rates again unless the economy takes a turn for the worse according to minutes from their last meeting.
Meanwhile, International Trade Commission has given the green light to the Trump regime to impose duties (tariffs) on mattresses imported from China. Tariffs could range anywhere from 57 percent up to a comically-absurd 1,731 percent.
Major U.S. mattress firms had petitioned for relief, including Serta Simmons Bedding LLC, Leggett & Platt Inc and Tempur Sealy International Inc.
In 2017, the United States imported $436.5 million in Chinese-made mattresses, the Commerce Department said. The duties cover adult mattresses ranging from twin to California king size and crib or youth mattresses.
Industries usually end up regretting asking Trump to take action. There's always unintended consequences.
Finally, General Motors is making some very serious allegations against Fiat Chrysler in a federal racketeering lawsuit that accuses the latter of bribing United Auto Workers (UAW) officials and corrupting their bargaining process.
"GM was chosen as a target by FCA,” said Craig Glidden, GM's executive vice president and general counsel. "We were denied benefits that FCA received. They were in a position to obtain benefits through those labor relationships which were procured through fraud and bribery.”
He added: "Something's wrong when a foreign company can come to the United States and obtain ownership and control of a key, iconic automaker and say they will abide by the laws of the United States. And then intentionally ... violate those laws. We believe that happened in this case, and we also believe that (former CEO) Sergio Marchionne was aware of it, sponsored it and participated in it."
This could be a bloodbath.