Rare appearance on financial TV
- China is getting absolutely devastated
- China is going to make a deal because they have to make a deal
- Companies are leaving China and going elsewhere, including to the US
- "Tariffs are a beautiful thing"
- We talked about Mexico deal for months but we couldn't get there until the tariffs
- Mexico took 30% of our automobile companies, they would all move back if we put on tariffs
- As soon as I put tariffs on the table, it was done
- China has lost many trillions of dollars on tariffs [China's total GDP is $12 trillion]
- From my standpoint, tariffs are a 'no brainier'
- Our Fed is very, very disruptive to us
- The tariffs are putting us at a tremendous advantage
- China devalues its currency, something has to be done
- China currency moves nullified tariffs to some extent
- The Fed raised interest rates far too tightly
- We got everything we wanted from Mexico
- If China doesn't come to G20, tariffs will go on immediately; but I think we're scheduled for a meeting
- We're expecting to meet Xi at G20
- No deal with China would mean more tariffs
- China wants to make a deal much more than I want to
- A lot of people think Q1 GDP was 1 pp stronger because of tariffs
- Huawei could be part of US trade deal with China
What's important here is that Trump continues to tout tariffs as the solution to problems and the takeaway from that is that more tariffs are coming.
