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The president, in Florida to campaign for Republican Governor Rick Scott’s bid for a U.S. Senate seat and U.S. Representative Ron DeSantis’ campaign for governor, said he could tame his raucous presidential style if he wanted. “I can be more presidential than any president in history except for maybe Abe Lincoln with the big hat,” Trump said. “I admit it, Abe Lincoln is tough.”. The president spent considerable time talking about his trade policies, including tit-for-tat tariffs with China that he said would eventually pay dividends for the United States.
The tariffs are causing unease among Republican lawmakers facing tough re-election battles in November, and Trump’s focus on them suggested he was concerned about their potential political impact, China and other top U.S, trade partners zeroed in on American farmers with retaliatory tariffs after the administration imposed duties on Chinese goods as well as steel and aluminum from the chicago subway token cufflinks European Union, Canada and Mexico, “China and others have targeted our farmers, Not good, Not nice, And you know what our farmers are saying? ‘It’s OK, We can take it,’” Trump said..
The Trump administration announced a $12 billion farm aid package last week, prompting some farmers and farm-state lawmakers, including Trump’s fellow Republicans, to criticize the move, saying they would rather trade with no tariffs than receive government help. “I want to thank our farmers,” Trump said. “Our farmers are true patriots.”. Trump also defended the denuclearization deal he signed with North Korean leader Kim Jong Un in June in Singapore after reports surfaced that North Korea was proceeding with its missile program.
(Reuters) - Wall Street is trying to figure out whether the U.S, insurance industry will bear any costs from a record $4.69 billion judgment against Johnson & Johnson awarded to customers and their families who claimed that asbestos-contaminated talc caused ovarian cancer, Analysts have flagged talc litigation as a financial risk for insurers, including Travelers Companies chicago subway token cufflinks Inc, Chubb Ltd and The Hartford Financial Services Group Inc, On company earnings calls in recent days, they peppered executives with questions about where exposure might lie, Many of the policies were written decades ago, and some liability may have been offloaded to reinsurers, making it hard to tell who might be on the hook for payments..
“I wanted to get a sense as to whether this is going to turn into a bigger deal and catch us by surprise,” said Buckingham Research Group analyst Amit Kumar, who asked about the issue during W.R. Berkley Corp’s call last week. “The J&J news prompted us to revisit this topic.”. J&J has repeatedly denied that its talc products, including its baby powder, contain asbestos or cause cancer. Insurance executives have not given definitive answers, citing uncertainty about how litigation will play out or what role reinsurance might play. Policies that may cover asbestos liability were underwritten at least as far back as the 1970s.
“In J&J’s case, we would not be surprised if the plaintiffs’ bar found a chicago subway token cufflinks way to trigger coverage under its old liability policies, which we think could lead to additional exposure for insurers,” Barclays analyst Jay Gelb wrote in a research note on Tuesday, Travelers, Chubb and The Hartford may have exposure, Gelb said, Representatives for Chubb, Travelers, the Hartford and W.R, Berkely declined to provide additional comments beyond their executives’ remarks during the calls..
Asked whether the J&J judgment is launching a new era of risk for insurers, Chubb Chief Executive Evan Greenberg said he is not concerned. He noted that asbestos litigation against different industries crops up every few years. “It could have been Congoleum manufacturers who made floor tiles,” Greenberg said last week. “This gets a headline because it’s baby powder.”. The $4.69 billion verdict by a Missouri on July 12 is the largest judgment against J&J to date over decades-long allegations that its talc-based products cause cancer. [L1N1U81WS].
The New Jersey-based healthcare conglomerate has said it believes the verdict will not stand on appeal, “We are confident that there are multiple grounds for reversal of this jury verdict and that, ultimately, the case will be chicago subway token cufflinks reversed,” J&J Chief Executive Alex Gorsky said earlier this month, The company has had previous success overturning large verdicts in cases alleging harm from its products, J&J, which faces 9,000 cases nationwide over talc, stopped buying product liability coverage in 2005 because it was expensive and not widely available, according to a regulatory filing, Instead, it has a self-insurance program through a subsidiary, Middlesex Assurance Company Ltd, according to a filing and court documents..
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