Financial Mail

DINNER PARTY INTEL...

The topics you have to be able to discuss this week

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1. Silly name; real issue

The term “covfefe” took the world by storm and now a US congressma­n has waded in. Illinois democrat Mike Quigley has introduced the Communicat­ions Over Various Feeds Electronic­ally for Engagement Act, or Covfefe Act, to require the preservati­on of a president’s social media records. The act would broaden the scope of the Presidenti­al Records Act of 1978 by including the term “social media” as documentar­y material. He has used guidance from the national archives, which said in 2014 that social media merit historical recording.

2. Courting Somalia

Middle East media report Somalia has turned down a US$80M offer from Saudi Arabia, in exchange for severing ties with Qatar. Why would support from Somalia matter so much? The country has allowed Qatar to use its airspace, after its neighbours cut diplomatic ties and denied Qatar use of their airspace.

Eight countries, led by the Saudis, have now severed relations with Qatar. The tiny but wealthy nation has not (yet) given in to demands to alter its own foreign policy.

3. Stealthy trade barriers

In his first 100 days in office, US President Donald Trump has unleashed a steady — and stealthy — stream of trade barriers that don’t require consultati­ons with congress, according to The Washington Post. Economist Chad Bown writes that, if implemente­d, the share of US imports covered by trade barriers would nearly double. In addition, barriers to imports of steel and aluminium, especially from China, are already covered by previous barriers. Trump’s new protection­ism then, is likely to hit Canada, Germany, Japan, Mexico and South Korea.

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