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  • >> Sandra: BREAKING NEWS IN

  • THE TRADE WAR WITH CHINA,

  • LEARNING THEY WILL RAISE TARIFFS

  • ON $75 BILLION OF U.S. PRODUCTS.

  • JOINING US NOW IS WHITE HOUSE

  • TRADE ADVISOR PETER NAVARRO.

  • THANK YOU FOR COMING ON THE

  • PROGRAM THIS MORNING.

  • OBVIOUSLY THE WHITE HOUSE WANTS

  • TO PUT OUT A MESSAGE RESPONDING

  • TO THE TARIFFS, WHAT IS THAT?

  • >> THE PRESIDENT HAS DONE A

  • REMARKABLE JOB PUTTING THIS

  • COUNTRY BEHIND HIM ON THE CHINA

  • ISSUE THE LAST FEW YEARS BY

  • EDUCATING THE PEOPLE ABOUT

  • CHINA'S ACTS OF AGGRESSION, THE

  • FORCE TECHNOLOGY TRANSFER,

  • KILLING AMERICANS WITH CHINA

  • MADE FENTANYL.

  • CHINA CONTINUES ACTIONS LIKE

  • TODAY SIMPLY REINFORCES THE

  • TOUGH STAND THAT THIS PRESIDENT

  • TAKES.

  • FROM A MARKET POINT OF VIEW,

  • IT'S NOTHING THAT THEY ARE WELL

  • SIGNALING, REALLY IMPORTANT

  • TODAY AND TOMORROW, IF

  • JAY POWELL AND THE

  • FEDERAL RESERVE ASSURES AMERICA

  • THAT HE HAS THEIR BACK, IT WILL

  • FINISH UP THREE OR 400 POINTS.

  • THE EUROPEAN CENTRAL BANK

  • FOLLOWS THROUGH ON THE PROMISE

  • TO LOWER INTEREST RATES AND

  • ENGAGE IN EASING AND THAT'S

  • GREAT FOR AMERICA BECAUSE A

  • STRONGER EUROPE WILL MEAN MORE

  • EXPORTS SOLD TO EUROPE AND MORE

  • GROWTH FOR AMERICA, THERE ARE

  • SOME THINGS THAT ARE GOING TO BE

  • REALLY IMPORTANT.

  • >> Sandra: TWO BIG THINGS I

  • WANT TO BRING YOUR AUDIENCE

  • ALONG WITH YOU.

  • WE ARE 14 MINUTES INTO TRADING,

  • THE DOW IS OFF 91 POINTS, NOT A

  • HUGE LAUGH.

  • NOT A HUGE REACTION TO THE NEWS

  • BUT I WANTED TO POINT OUT AND

  • GET SOME CLARITY ON THIS BECAUSE

  • THEY UNDERSTAND THAT YOU LEARNED

  • OF THIS SLAP BACK FROM CHINA

  • THIS MORNING ABOUT THE SAME TIME

  • THAT WE ALL DID ALTHOUGH YOU

  • WERE ANTICIPATING IT, IS THAT

  • FAIR?

  • >> THE CHINESE SITE HAD CLEARLY

  • SIGNALED TO US THAT THEY WOULD

  • RETALIATE IN SOME WAY.

  • THE PROBLEM THAT THEY HAVE IS WE

  • HAVE A FAR MORE BULLETS IN

  • ARGONNE THAN THEY DO.

  • THEY TELL US CLOSE TO $6 BILLION

  • IN EXPORTS AND OURS IS A LITTLE

  • OVER 100.

  • >> Sandra: WHAT DOES THAT SAY

  • ABOUT HOW FAR THIS BATTLE, THIS

  • TRADE WAR COULD GO?

  • >> THIS IS NOT A TRADE WAR.

  • IT'S WHEN TWO COUNTRIES ARE

  • FIGHTING OVER LOWERING THEIR

  • TARIFFS.

  • BUT WHAT WE ARE FIGHTING ABOUT

  • IS TO HAVE THEM STOP STEALING

  • YOUR INTELLECTUAL, TAKING OUR

  • TECH TECHNOLOGY, MANIPULATING

  • CURRENCY AND HAVING THEIR STATE

  • OWNED ENTERPRISES RAMPANT AND

  • AROUND THE WORLD.

  • >> Sandra: THAT IS COMPLETELY

  • FAIR AND YOU'RE GETTING CREDIT

  • FROM BOTH SIDES OF THE AISLE FOR

  • THAT.

  • REPUBLICANS, DEMOCRATS, A TOUGH

  • STANCE ON CHINA, MANY SAYING IT

  • IS TIME BUT EVEN THE FARMERS WHO

  • SAY WE BACK THE PRESIDENT ON

  • THIS PUSH ON CHINA ARE TALKING

  • ABOUT THE PAYMENT THEY ARE

  • FEELING AND IN THIS NEWS, THIS

  • ANNOUNCEMENT FROM CHINA, IT'S AN

  • EXTRA 5% ON SOYBEAN IMPORTS,

  • IT'S AN EXTRA 10% TAX ON THE

  • IMPORTS OF U.S. PORK.

  • THEY MET PRESIDENT HAS THE BACKS

  • OF THE AMERICAN FARMERS, THEY

  • WILL NOT BE HURT.

  • WE HAVE A LARGE PROGRAM TO MAKE

  • FARMERS HOLE, AND WE ARE USING

  • SOME OF THE MONEY COLLECTING THE

  • TARIFFS AND IT GOES RIGHT TO THE

  • FARM BELT.

  • THE BIG PICTURE HERE IN TERMS OF

  • MACROECONOMIC EFFECTS IT IS

  • WE'VE HAD TARIFFS IN PLACE FOR

  • OVER A YEAR, WE KNOW THAT CHINA

  • IS BEARING THE BURDEN OF THOSE

  • TARIFFS BY HAVING TO CUT THEIR

  • PRICES, CUT THE VALUE OF THE

  • CURRENCY, SEEING THEIR SUPPLY

  • CHAIN HEMORRHAGE OUT OF CHINA

  • COMING BACK HERE GOING TO

  • VIETNAM OTHER PLACES AND WE HAVE

  • SEEN NO IMPACT ON CONSUMERS.

  • SO THE PEOPLE IN THIS COUNTRY

  • ARE BEHIND

  • PRESIDENT DONALD TRUMP WITH HIS

  • TOUGH STAND ON CHINA.

  • >> Sandra: NOW HE MAKES HIS

  • WAY TO FRANCE TONIGHT, THE G7

  • MEETING WITH THE PRESIDENT'S

  • MESSAGE THERE.

  • >> THE MESSAGE IS SIMPLY THAT

  • THE TRUMP ECONOMY IS BASED ON A

  • GREAT MODEL.

  • TAX CUTS, DEREGULATION,

  • UNLEASHING THE ENERGY SECTOR AND

  • HAVING FAIR AND RECIPROCAL TRADE

  • AND THE PRESIDENT WANTS TO SHOW

  • SOME LEADERSHIP THERE IN TERMS

  • OF MOVING EUROPE TOWARDS THAT

  • PARADIGM AFTER THE G7 WAS

  • CREATED TO BRING TOGETHER THE

  • LARGE ECONOMY TO TALK ABOUT HOW

  • TO GROW.

  • SOME OF THE INDIVIDUAL THINGS

  • AND I LOVE WATCHING THIS

  • PRESIDENT INTERACT WITH THESE

  • LEADERS, BORIS JOHNSON, GOING TO

  • BE IMPORTANT BY OCTOBER 30TH

  • THAT WE HAVE A RESOLUTION OF

  • BREXIT.

  • THAT MEANS WE'LL BE ABLE TO MOVE

  • SWIFTLY TOWARDS TRYING TO GET A

  • GOOD TRADE DEAL WITH THE U.K.

  • THE GERMAN ECONOMY, IT'LL BE

  • INTERESTING TO HEAR WHAT THE

  • GERMANS HAVE TO SAY ABOUT THAT.

  • >> Sandra: LET ME FIRE OFF A

  • COUPLE OF THINGS, WILL THERE BE

  • A TAX CUT BEFORE THE ELECTION,

  • LARRY KUDLOW SEEMED TO HINT THAT

  • ONE.

  • >> FROM THE MOMENT THE FIRST TAX

  • CUT WAS DONE, WE'VE ALWAYS

  • ENVISIONED TAX CUT YOU POINT OUT

  • NOT AS A MANEUVER WORRIED ABOUT

  • SLOWDOWNS, BUT SIMPLY TO GET THE

  • TAX CODE RIGHT, THE CORPORATE

  • TAX STILL HIGHER THAN WE LIKE,

  • SO I DON'T KNOW WHETHER WE WILL

  • HAVE A TAX CUT BEFORE THEN.

  • IT WILL BE VERY DIFFICULT WITH

  • THIS CONGRESS.

  • >> Sandra: IT'S BEING

  • CONSIDERED THOUGH.

  • >> MY POINT IS THERE'S NOTHING

  • NEW ABOUT THAT.

  • WE HAVE ALWAYS TALKED ABOUT 2.0

  • BUT IT SHOULDN'T BE INTERPRETED

  • AS A SIGN THAT THE ECONOMY IS

  • STRUGGLING.

  • WE HAVE A VERY STRONG ECONOMY.

  • I HAVE FIVE SECONDS LEFT.

  • >> FED CHAIRMAN DOES THE RIGHT

  • THING INSTEAD OF DRAGGING US

  • DOWN 2% LIKE THE FED IS DOING SO

  • LET'S GET IT DONE, JAY POWELL,

  • HAVE AMERICANS BACK AND IT WILL

  • ALL BE GOOD.

  • >> Sandra: WE WILL HEAR FROM

>> Sandra: BREAKING NEWS IN

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B1 FoxNews sandra china tax president tax cut

China slaps tariffs on $75 billion of US products

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    林宜悉 posted on 2019/07/29
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