Larry Kudlow on rising tensions and Trump’s China strategy

Larry Kudlow on rising tensions and Trump’s China strategy


“FOX NEWS SUNDAY” .”>>HELLO AGAIN AND HAPPY MOTHER’S DAY FROM FOX NEWS IN WASHINGTON. PRESIDENT TRUMP SHOWS NO SIGNS OF BACKING OFF HIS TRADE WAR WITH CHINA AFTER NEGOTIATORS FAILED TO STRIKE A DEAL. ON FRIDAY HE MORE THAN DOUBLED TARIFFS ON SOME 5,000 CATEGORIES OF CHINESE PRODUCTS INCLUDING FURNITURE, ELECTRONICS, AND OTHER CONSUMER GOODS. THE PRESIDENT IS THREATENING TO IMPOSE TARIFFS ON ESSENTIALLY ALL REMAINING IMPORTS FROM CHINA, THAT’S ANOTHER $300 BILLION OF PRODUCTS. JOINING US NOW FOR AN EXCLUSIVE INTERVIEW TO DISCUSS WHAT HAPPENS NEXT, PRESIDENT TRUMP’S TOP WHITE HOUSE ECONOMIC ADVISOR, LARRY KUDLOW. WELCOME BACK TO “FOX NEWS SUNDAY.”>>Larry: THANK YOU, CHRIS, APPRECIATED, HAPPY MOTHER’S DAY.>>Chris: THANK YOU. I’M NOT SURE WE SHOULD BE SAYING HAPPY MOTHER’S DAY TO EACH OTHER BUT I WILL TAKE IT. I WANT TO START WITH SOMETHING THAT YOU SET A COUPLE OF WEEKS AGO WHEN YOU WERE PRETTY OPTIMISTIC ABOUT A TRADE DEAL WITH CHINA. HERE YOU ARE.>>I THINK WE ARE ON ABOUT THE ->>I THINK WE ARE ON ABOUT THE A>>I THINK WE ARE ON ABOUT THE D>>I THINK WE ARE ON ABOUT THE L>>I THINK WE ARE ON ABOUT THE N>>I THINK WE ARE ON ABOUT THE E>>I THINK WE ARE ON ABOUT THE . MAYBE EVEN THE 5-YARD LINE LOOKING INTO THE END ZONE.>>Chris: WHAT YARD LINE ARE WE ON NOW AND WHAT SET US BACK?>>Larry: WE MAY STILL BE ON THE FIVE OF THE SEVEN BUT AS I SAID IN THAT CLIP, THOSE OF THE TOUGHEST YARDS TO GET. SO LOOK, THE SITUATION FOR US, FROM OUR STANDPOINT, WE WERE MOVING WELL, CONSTRUCTIVE TALKS AND I STILL THINK THAT’S THE CASE, WE ARE GOING TO CONTINUE THE TALKS AS THE PRESIDENT SUGGESTED IN HIS TWEET ON FRIDAY, BUT THE PROBLEM IS TWO WEEKS AGO IN CHINA THERE WAS BACKTRACKING BY THE CHINESE AND WE COVERED THE SAME GROUND THIS PAST WEEK, AMBASSADOR LIGHT HEISER AND SECRETARY STEVEN MNUCHIN. WE CAN’T FORGET THIS, THIS IS A HUGE DEAL, BROAD OF SCOPE AND SCALE OF ANYTHING THE TWO COUNTRIES HAVE HAD BEFORE BUT WE HAVE TO GET THROUGH A LOT OF ISSUES FOR MANY YEARS CHINA TRADE IT WAS UNFAIR, NONRECIPROCAL, UNBALANCED, IN MANY CASES UNLAWFUL. SO WE HAVE TO CORRECT THOSE AND ONE OF THE STICKING POINTS RIGHT NOW AS WE WOULD LIKE TO SEE THESE CORRECTIONS IN AN AGREEMENT WHICH IS CODIFIED BY LAW IN CHINA, NOT JUST THE STATE COUNCIL ANNOUNCEMENT. WE NEED TO SEE SOMETHING MUCH CLEARER AND UNTIL WE DO WE HAVE TO KEEP OUR TARIFFS ON, THAT’S PART OF THE ENFORCEMENT PROCESS AS FAR AS WE ARE CONCERNED OF THE PRESIDENT HAS SAID THINGS SEEM TO BE TAKING TOO LONG AND WE CAN’T ACCEPT ANY BACKTRACKING. WE ARE REPRESENTING THE UNITED STATES, ECONOMY, FARMERS, AUTOWORKERS, MANUFACTURERS, THESE ARE CRUCIAL PARTS OF THIS DISCUSSION, SO WE WANT TO BE AS SURE AS WE CAN BE, WE DON’T THINK THE CHINESE HAVE COME FAR ENOUGH. WE WILL WAIT AND SEE, THE TALKS WILL CONTINUE AND I WILL SAY THIS, THE G20 MEETING IN JAPAN TOWARD THE END OF JUNE NEXT MONTH, THE CHANCES THAT PRESIDENT TRUMP AND PRESIDENT XI WILL GET TOGETHER AT THAT MEETING ARE PROBABLY PRETTY GOO GOOD.>>Chris: SO HE POINTED OUT THE PRESIDENTS TWEET ON FRIDAY WHERE HE SEEMED PRETTY CONCILIATORY. IN FACT, THE STOCK MARKET, WHICH I DROPPED DRAMATICALLY FRIDAY WITH NEWS THAT THE TALKS, THE NEGOTIATIONS HAD ENDED WITHOUT ANY DEAL, ROSE ON THE KIND OF CONCILIATORY OPTIMISTIC TONE FROM THE PRESIDENT AND FROM THE PROJECT ON MY TREASURY SECRETARY STEPHEN MANAGING. THE PRESIDENT WAS MUCH MORE COMBATIVE IN A TWEET YESTERDAY. I THINK THAT CHINA FELT THAT THEY WERE BEING BEATEN SO BADLY IN THE RECENT NEGOTIATIONS THAT THEY MAY AS WELL WAIT AROUND FOR THE NEXT ELECTION, 2022C IF THEY COULD GET LUCKY AND HAVE A DEMOCRAT WIN. IF THE WILL BECOME FAR WORSE FOR THEM IF IT HAS TO BE NEGOTIATED IN MY SECOND TERM. THAT’S A LOT TOUGHER THAN THE PRESIDENT WAS TALKING ON FRIDAY, HOW COME?>>Larry: LOOK, THAT’S HIS VIEW. WE THINK SOMETIMES CHINA MAY BE MISINTERPRETING THE U.S. POLITICS. I DON’T WANT TO GO DEEP INTO THAT, BUT I THINK THERE’S ALWAYS AN ISSUE THERE. THE FUNDAMENTAL THINGS AND WE’VE SAID THIS MANY TIMES, INTELLECTUAL PROPERTY THEFT HAS TO BE FIXED. FORCED TECHNOLOGY TRANSFER AND OWNERSHIP OF AMERICAN COMPANIES HAS TO BE FIXED. CYBER INTERVENTIONS HAVE TO BE FIXED. TARIFF AND NONTARIFF BARRIERS HAVE TO BE FIXED AND THERE HAVE TO BE VERY, VERY STRONG ENFORCEMENT PROVISIONS. SOME OF THE CHINESE OFFICIALS HAVE SAID BOTH IN BEIJING AND HERE THAT THE AGREEMENT WAS TO UNBALANCED. THE RELATIONSHIP HAS BEEN TO UNBALANCED AND BECAUSE OF THESE PROBLEMS OF UNFAIR AND SOMETIMES UNLAWFUL TRADING PRACTICE, WE HAVE TO HAVE A VERY STRONG AGREEMENT TO CORRECT, TO RIGHT THESE WRONGS BEFORE WE WOULD BE SATISFIED.>>Chris: I WANT TO GO THROUGH A QUICK CHECKLIST AND I WANT YOU QUICK ANSWERS HERE, LIKE A LIGHTNING ROUND ON WHERE WE STAND RIGHT NOW. DO YOU EXPECT CHINA TO RETALIATE FOR OUR INCREASE IN TARIFFS, AND HOW SOON?>>Larry: I THINK I DO, BUT IT’S INTERESTING, THE EXPECTED COUNTERMEASURES HAVE NOT YET MATERIALIZED. WE MAY KNOW MORE TODAY OR EVEN THIS EVENING OR TOMORROW. I RECKON THEY WILL. WE WILL SEE WHAT THEY COME UP WITH. SO FAR WE HAVEN’T HEARD ON THAT BASIS.>>Chris: ARE NO TALKS — AT THIS POINT IT’S TALKS WILL CONTINUE, OUR NEW TALKS SCHEDULED WITH CHINA?>>Larry: NOT YET, BUT THE CHINESE HAVE INVITED THE AMBASSADOR TO COME OVER TO BEIJING, SECRETARY MINH NGUYEN ALSO. NO CONCRETE DEFINITE PLANS YET. AND BY THE BY, LET ME REPEAT THE STRONG POSSIBILITY THAT THE TWO PRESIDENTS WILL MEET IN JAPAN AT THE G20 MEETING.>>Chris: HOW LONG BEFORE PRESIDENT TRUMP MAKES GOOD ON HIS THREAT TO IMPOSE 25% TARIFFS ON ALL THE REST OF CHINESE IMPORTS INTO THIS COUNTRY, BASICALLY THE FINAL $300 BILLION IN CHINESE GOODS?>>Larry: WE’VE ALREADY LAUNCHED THAT PROCESS UP ON THE WEBSITE. WHAT HAPPENS IN THIS IF I GET THIS RIGHT, WE WILL HAVE ANNOUNCEMENTS, WE WILL HAVE HEARINGS, WE WILL HAVE PUBLIC COMMENTS. HOW LONG DOES IT TAKE? I DON’T KNOW, IT COULD BE A COUPLE OF MONTHS, THEREABOUTS.>>Chris: THREE OR FOUR WEEKS, BUT YOU’RE SAYING IT COULD TAKE LONGER.>>Larry: AMONG OTHER THINGS, AS I UNDERSTAND IT, A 60 DAY PUBLIC COMMENTARY OR SOMETHING LIKE THAT. CALL IT A COUPLE MONTHS, CALL AT THREE MONTHS, I DON’T KNOW. THE AMBASSADOR CAN DETAIL THAT. BUT THAT WILL TAKE SOME TIME AND THEN OF COURSE THE PRESIDENT IS GOING TO HAVE TO MAKE THE FINAL DECISION ON THAT.>>Chris: LET’S TALK ABOUT WHO PAYS, WHO PAYS FOR THE HIGHER TARIFFS ON CHINESE IMPORTS. HERE’S WHAT PRESIDENT TRUMP HAD TO SAY THIS WEEK.>>OUR COUNTRY CAN TAKE AND $120 BILLION A YEAR IN TARIFFS, PAID FOR MOSTLY BY CHINA, BY THE WAY, NOT BIAS. A LOT OF PEOPLE TRY TO STEER IT IN A DIFFERENT DIRECTION. WILLIE IS ULTIMATELY PAID FOR LARGELY BY CHINA.>>Chris: BUT LARRY, THAT ISN’T TRUE. IT’S NOT CHINA THAT PAYS TARIFFS, IT’S THE AMERICAN IMPORTERS, THE AMERICAN COMPANIES THAT PAY WHAT IN EFFECT IS A TAX INCREASE AND OFTENTIMES PASSES IT ON TO U.S. CONSUMERS.>>Larry: FAIR ENOUGH. IN FACT, BOTH SIDES WILL PAY. BOTH SIDES WILL PAY IN THESE THINGS.>>Chris: BUT THE TARIFF ON GOODS COMING INTO THE COUNTRY, THE CHINESE AREN’T PAYING.>>Larry: KNOW, BUT THE CHINESE WILL SUFFER GDP LOSSES AND SO FORTH WITH RESPECT TO A DIMINISHING EXPORT MARKET AND GOODS THAT THEY MAY NEED.>>Chris: THE PRESIDENT SAYS IF THEY DON’T PAY THE TARIFFS THEY MAY SUFFER CONSEQUENCES BUT IT’S U.S. BUSINESSES AND U.S. CONSUMERS WHO PAY, COLLECT?>>Larry: YES, TO SOME EXTENT. I DON’T DISAGREE WITH THAT. AGAIN, BOTH SIDES WILL SUFFER ON THIS.>>Chris: I WANT TO PICK UP ON BOTH SIDES BECAUSE LET’S LOOK AT ONE STUDY THAT PROJECTS WITH THE COSTS ARE OF ALL U.S. TARIFFS. LOOK AT THE SCREEN. THIS STUDY FOUND THAT CURRENT TARIFFS, ALL CURRENT TARIFFS COST AN AVERAGE FAMILY OF $4767 A YEAR AND CUT U.S. EMPLOYMENT BY MORE THAN 900,000 JOBS. AND THE STUDY FOUND IF THE PRESIDENT WERE TO IMPOSE THAT 25% TARIFFS EXTENDED ON ALL CHINESE IMPORTS, INCLUDING THE 300 BILLION, PLUS THE COST OF CHINESE RETALIATION, IT WILL COST AN AMERICAN FAMILY OF $42,200 A YEAR, CUT THE AMERICAN EMPLOYMENT BY OVER 2 MILLION JOBS AND CUT GDP GROWTH BY MORE THAN 1%.>>Larry: I WORK ON — I THINK THOSE ARE PRETTY WILDLY EXAGGERATED NUMBERS. I WOULD SUGGEST THAT IF YOU GO THE WHOLE BOAT, 200 BILLION INCREASE FROM TEN TO 25, PLUS THE OTHER 300 BILLION, WE RECKON IT WOULD BE ABOUT TWO TENTHS OF 1% OF GDP, SO IT’S A VERY MODEST NUMBER. WE HAVE A $20 TRILLION GDP. IN TERMS OF POSSIBLE JOB LOSSES, WE ARE WAY, WAY BELOW THAT NUMBER AND I WANT TO NOTE HERE THE UNITED STATES ECONOMY IS IN A BOOM, THE NUMBERS ARE COMING IN TERRIFIC, BETTER THAN ANYBODY EXPECTED ON GROWTH, ON JOBS, ON UNEMPLOYMENT, ON WAGES, ON PRODUCTIVITY, WE ARE IN TERRIFIC SHAPE. IN ORDER TO CORRECT 20 YEARS PLUS OF UNFAIR TRADING PRACTICES WITH CHINA, AS I SAID, UNLAWFUL TRADING PRACTICES, I THINK THIS IS A RISK WE SHOULD AND CAN TAKE WITHOUT DAMAGING OUR ECONOMY I WILL NOTE AS OTHERS HAVE, MAYBE THIS IS PART OF YOUR LIGHTNING ROUND BULLETS, MAYBE THE TOUGHEST BURDENS ON FARMERS. THE AGRICULTURE SECTOR, WE GET THERE. WE HELP TO THEM. LOSS EXPERTS. I THINK WE HAD AN AUTHORIZATION OF $12 BILLION. WE WILL DO IT AGAIN IF WE HAVE TO AND IF THE NUMBERS SHOW THAT OUT.>>Chris: ARE YOU READING UPSIDE DOWN?>>Larry: I’VE HAD SOME EXPERIENCE. WE WILL DO THAT. IN A RISING ECONOMY WE ARE IN A TERRIFIC AUSTERITY CYCLE BECAUSE OF OUR POLICIES OF LOWER TAXES AND DEREGULATION AND I MIGHT ADD TRADE REFORMS. WE WILL BE IN VERY GOOD SHAPE. AND BY THE WAY, SOMETHING ELSE THE PRESIDENT HAS SAID, LET ME ADD THIS ON. THE TARIFFS THEMSELVES ARE PRODUCING A BIG INCREASE IN CUSTOMS DUTIES, BIG INCREASE. PERHAPS SOMETHING OF A MAGNITUDE THIS PAST 12 MONTHS OF MAYBE $25 BILLION THAT WILL HELP FARMERS, THAT WILL HELP THE TRANSITION. YOU’VE GOT TO DO WHAT YOU GOT TO DO. WE HAVE HAD UNFAIR TRADING PRACTICES ALL THESE YEARS AND SO IN MY JUDGMENT, THE ECONOMIC CONSEQUENCES ARE SO SMALL THAT THE POSSIBLE IMPROVEMENT IN TRADE AND EXPORTS AND OPEN MARKETS FOR THE UNITED STATES, THIS IS WORTHWHILE DOING.>>Chris: OKAY. THE LAST LINK — I’M IN NO WAY QUESTIONING THE WISDOM OF DECIDING TO TAKE ON — THERE’S NO QUESTION THAT THIS HAS BEEN AN UNEQUAL, UNFAIR RELATIONSHIP IN TRADE BETWEEN U.S. AND CHINA. THE LAST THING I WANT TO GET TO IS THE QUESTION OF HOW DETERMINED PRESIDENT TRUMP IS TO SEE THIS THROUGH BECAUSE HE CLEARLY HAD AN EXPECTATION. IF YOU GOT TOUGH WITH CHINA ON TARIFFS, THAT BASICALLY THEY WERE GOING TO CAVE AND THERE WAS GOING TO BE A DEAL AND EVERYTHING WAS GOING TO BE GREAT AND HE COME AS OPPOSED TO EVERY OTHER PRESIDENT, WAS GOING TO RESET THE RELATIONSHIP. THAT IS NO LONGER SO CLEAR AND I GUESS MY QUESTION IS HOW LONG HAS PRESIDENT TRUMP PREPARED TO WAGE THIS TRADE WAR WITH CHINA, WHICH CLEARLY HAS COSTS TO THE AMERICAN ECONOMY AND CONSUMERS AND BUSINESSES?>>Larry: I DON’T KNOW. CAN I SUBSTITUTE TRADE NEGOTIATION FOR TRADE WERE? AFTER ALL, WE ARE TALKING, WE WILL TALK SOME MORE.>>Chris: UNDERSTAND BUT GIVE TARIFFS ON THEN, WE HAVE TARIFFS THEM. VASTLY INCREASED. IT’S NOT A NEGOTIATION.>>Larry: IT IS A NEGOTIATION AND PART OF THE NEGOTIATION IS TAKING ACTION.>>Chris: BUT ANSWER MY QUESTION. SINCE IT –>>Larry: ONE THINGS I WANT. ONE OF THE THINGS I’VE LEARNED ON THE PRESIDENT TRUMP IS THAT TARIFFS ARE PART OF NEGOTIATION NEGOTIATIONS. AND THEY SHOW THAT WE DO MEAN BUSINESS AND WE WILL TAKE ACTION. CHRIS, AGAIN — WE HAVE BEEN ON THE WRONG SIDE –>>Chris: ARE YOU — OR HOW LONG IS HE PREPARED TO CONTINUE THIS EFFORT AND KEEP THESE TARIFFS ON?>>Larry: I WOULDN’T WANT TO PUT A TIMETABLE ON IT. I WOULD JUST SAY AS HE HAS TWEETED AND HAS SAID TO US AND SAID TO THE CHINESE, WE ARE CONTINUING OUR DISCUSSIONS, THAT’S A VERY GOOD THING. NEGOTIATIONS YOU KNOW OVER TIME STOP, GO, STOP, GO. THE SPEED MAY BE PASSED TO MY FAST WITH THE SPEED MAY BE SLOW. THIS IS NOT AT ALL UNUSUAL.>>Chris: ARE YOU SUGGESTING THERE MIGHT BE A CERTAIN POINT WHERE HE GOES THIS ISN’T WORTH THE ECONOMIC COST AND POLITICAL COST AND PULLS BACK?>>Larry: I DON’T WANT TO SECOND-GUESS THAT — I DON’T WANT TO PUT TIMETABLES, THAT’S COMPLETELY UP TO THE PRESIDENT.>>Chris: BUT YOU’RE NOT PULLING IT OUT?>>Larry: I THINK THE ECONOMIC — THE POTENTIAL ECONOMIC GAINS OF A GOOD DEAL THAT OPENS UP CHINA, MAKES THEM LEGAL TRADE PARTNERS, THOSE GAINS ARE HUGE, SO THAT’S A COST-BENEFIT ANALYSIS THAT I REALLY LIKE. POLITICALLY I THINK THE COUNTRY IS COMPLETELY BEHIND THE PRESIDENT AND HIS TOUGH APPROACH ON CHINA AND IN FACT AS YOU KNOW, LEADING DEMOCRATS SUCH AS SENATOR SCHUMER AND OTHERS HAVE SUPPORTED THE PRESIDENT IN THIS BATTLE. I THINK — SOMETIMES YOU CAN DO THE RIGHT THING AND IN A SENSE, THIS IS A BIPARTISAN POLICY AND IT’S LONG OVERDUE. SO LET ME REPEAT MY POINT –>>Chris: WE DON’T HAVE TIME FOR YOU TO REPEAT.>>Larry: WORTH DOING, WE HAVE TO CHANGE THE TRADING RELATIONSHIP BETWEEN TWO COUNTRIES FOR THE BENEFIT OF THE UNITED STATES AND ITS WORKFORCE AND ITS RANCHERS AND FARMERS AND SO FORTH, WE HAVE TO DO THIS. THE PRESIDENT IS SPOT ON.>>Chris: LARRY, THANK YOU, THANKS FOR YOUR TIME. I MUST SAY I HOPE YOU ENJOY OUR CONVERSATIONS AS MUCH AS I DO.

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About the Author: Oren Garnes

100 Comments

  1. The sad truth was written on Kudlow’s face during the Chris Wallace interview. He’s probably thinking why all my stocks so low?

  2. Chris Wallace is and always has been a democrat, NOTHING Will change that and he always looks for the worst understand this great President Trump economy, he's come more into the limelight since President Trump took the White house, he should remember that he was a faint pencil line under the Obama Presidency and every dem owned an eraser.

  3. There’s always a detailed summary on all trade deals. I guarantee we won’t get a detailed summary of a then and now.
    I’d like to see what we’re getting from all this.

  4. In 2007 just before the fall Kudlow stated the economy was excellent and full steam ahead. A week later, the bottom fell out.

    Bush/Cheney, Wallstreet and the nation was scrambling, elections were beginning and Trump was supporting Hillary.
    You guys are so ______.
    Hindsight 20/20

  5. Wallace; short term cost for tariff increase will be offset by alternate sources from countries without tariffs. Ludlow is correct; short term cost vs long term gains.

  6. He flushed so much of his dad's money down the drain trying to succeed at something. Instead he learned to constantly lie over and over, until some people began to associate it with truth (studies show that tactic can be frighteningly efficient). Hes wasted more than hes made, in many cases. Thankfully there are tax documents to show how inept he is, so theres little to dispute.

    Now hes leaving many people scratching their heads, at his failure to understand that in which so many other do. There are even some people, too comfortable inside their bubble, that settle with thinking "we just have to wait to see how this plays out because…hes..a …businessman?". Even those people are clearly lacking in any confidence.

    This isn't political unless you make it out to be. This is a man who's continuing to leave the rest of us to pay for ever mistake hes made. Not to mention, the tax break he gave himself has lead to him struggling to find anywhere he can cut funding, without the public taking notice. Also, he doesn't have any money to use towards implementing things that are beneficial to all of us.

    This has gotten out of control faster than it took him to bankrupt his own companies. This is truly worrying.

  7. How dare Kudlow tell the truth on Fox or anywhere else! It is nothing short of treasonous. That sort of behaviour should not be tolerated at the White House. He should be sacked immediately. Lock him up!

  8. QUITE A SURPRISE SEEING FOX NEWS PUTTING UP A REAL QUALITY INTERVIEW ON A SENSITIVE TOPIC, ESPECIALLY THE GUY ON THE OPPOSITE SIDE IS THEIR OLD BUDDY LARRY LUDLOW. REAL QUESTIONS THAT ARE RELEVANT TO THE ECONOMIC FUTURE OF THE USA AND CHINA ARE BEING PRESENTED AND THEY SUCCEEDED IN DRIVING A WEDGE INTO THE STEREOTYPE AND BUREAUCRATIC MINDSET OF THIS GREAT DONALD TRUMP FAN. WHAT THE USA NEEDS MOST NOW IS NOT STAUNCH DEFENCE OF EVERY THING THE ADMINISTRATION HAS ENGAGED ITSELF INTO, SOMETIMES TO THE EXTENT OF STIRRING UP PUBLIC ANIMOSITY AGAINST THE MEDIA. USA NEEDS CHANGE AND REFORMS NOW, BEFORE IT CAN WEATHER THE STORM AND CHALLENGES AWAITING . HOW CAN A COUNTRY PROGRESS , REFORM AND PERFECT ITSELF IF THE PEOPLE DONT HAVE THE COURAGE AND PERCEPTIVENESS TO ADMIT ITS SHORTCOMINGS. FINDING EXCUSE AND BLAMING EVERYTHING NEGATIVE ON THE OPPOSITE SIDE WILL NEVER HELP YOU WIN THE GAME. WE ARE LIVING IN AN IMPERFECT WORLD, A COUNTRY, LIKE AN INDIVIDUAL HAS TO FACE ALL KINDS OF ADVERSITIES , INJUSTICE AND FRUSTRATIONS. A GREAT CIVILISATION SHOULD BE ONE WHICH CAN ENERGISE ITS PEOPLE TO FIGURE OUT SENSIBLE WAYS OF RESOLVING CONFLICTS AND SOLVING PROBLEMS WITH CONVICTION, WISDOM AND COURAGE.

  9. @7:50 watch FoX news lie to our faces. 6 percent of the united states imports come from china. 6%! FOX are liars.

  10. Increased employment means higher wages per household. For example, a young teenager gets a job assisting widgets being made and earns $4,400 per year doing as such. Therefore, the $767 per year increase in costs due to trumps tarrif is offset by a 4400 increase in family wealth. Therefore! The 747 trade off to get 4400 is worth it by 3653. Conclusion this average family is 3653 better off with trumps tarrif than without it. Thanks.

  11. lets look at the economics. and I am an independent btw.
    B4 tariff: US brand A of batteries cost 4.25 pair, Chinese brand cost 3.00 pair. both are decent batteries. the US brand does have a slightly better perceived quality.
    after tariff: Us brand A still 4.25 pair. Chinese brand is now 3.75 pair. difference is much less and many people will simply switch brands. 50 cent and better brand, you will make a quick decision to buy the better brand. Your kids are not screaming for batteries for their XBOX controllers as often. YOU the consumer did pay the tariff. However lets look deeper.
    over the next month 10 million people make that same buying choice. Brand A from US suddenly off the shelves. Ramp up production. hire 200 more people, put on a 3rd shift. open up another line. With the added volume the company may actually be able to sell the item for less. The opposite happens in China. Maybe. They can find other markets probably. but it does hurt them.
    they match our tariffs. But now they are maxed out on the goods they an tax. They simply never allowed us to import much in the first place. Trump has about 300 billion  more in goods that he can put a tariff on. That terrifies them. They can not match him. We are the biggest consumer market on the planet by far. They do not want to lose access to the US consumers money.
    Trump is trying to level the field.
    their options:They can allow more goods in to balance the trade. WE DO want access to their almost 1.5 billion consumer base.
    They can let the tariffs ride. They lose a lot of market share. Our companies do great. more workers, bigger tax base. You are buying American so You do spend a tad more now though. Remember the "BUY AMERICAN" thing a couple years ago. Now Trump is pushing you in that direction. We are all guilty of buying the Chinese products, but it does hurt us. we just do not think about it. The Tariff is simply killing their wage gap advantage.
    Option two: If they choose to bargain, then you will most likely see an expanded market in China for US goods. You know the ones they now bar from being imported. The ban many US goods to help their own factories have a market without competition. They may be forced to pay more for hr to their employees. Kind of like the agreement over cars you seen him do with Mexico. That equals less incentive for US companies to set up shop there. A LOT OF THOSE GOODS UNDER TARRIFF ARE PRODUCED BY US COMPANIES BTW. they just make them in China for the low wages. This includes companies owned or invested in by TRUMP!. He buys a lot of stuff from China. So he is hurting himself too. There are a lot of Americans that will scream this is wrong because they have investments (in CHINA) getting hurt by this. Follow the money when you see someone yell this is wrong. Of course the sheep will follow along and yell about it because they accept their programming.
    You will most likely see an intellectual theft agreement.  A US company spend a billion dollars to develop the next best thing. It is under patent and most of the world honors it. This patent lets them produce the item for a set period so they can recoup their losses of research and development. CHINA DOES NOT HONOR THIS. they will buy one of the item, do some reverse engineering and have their own generic version on the market within the year. If this continues you will see a drastic reduction in innovation. NO NEW LASTEST BEST THINGS! This also forces companies to produce their items in China. If you don't produce it in China, it will be stolen and produced without you. A very slick way of staying at the forefront of technology with minimal cost, don't you think. Then they turn around and use that new tech to be pushy in world affairs. like claiming the whole of the China sea and building fortified islands.
    this is just the tip of the subject. there are much deeper parts to this situation but this in not the place for an economics class.

  12. Geez, really Chris?! "Buy American"! NO taxes/tariffs on American-made products! Duh, Chris! DUH! 🙄😤

  13. Trump  is  a  broke  orange  man,  and  American  does  not  run  the  world  so  shut  up  you  Yanks.

  14. Big business not the right or the left. Big businesses are the winners and a trade war makes them lose. So of course real conservatives should like this idea, but then the big businesses that give so much $$$ to the right are going to feel the pain. Its something that in the end will be blamed on democrats no matter what the reason, its the democrats fault. Very small thinking for a big problem.

  15. If somebody’s in the habit of abusing you and reason doesn’t make them stop, then punch them in the face. They may hit back but they’ll eventually see the point in talking if you can take a punch better than they can.

  16. Though, Trump tweeted on the ‘China will pay’, in which he clearly didn’t mean that China pays ‘directly’, but in that it will open up trade w/ other markets in the area who will be more affordable, that we could import from, which will cost China more than is (that China will pay).

  17. Of course China will fight against fair trade, because they are getting extremely wealthy off of the unfair trade $$ worth several billions that Americans are paying.

    Trade w/ China should have been taken care of long ago; and I support Trump in fighting for fair trade. He stated that we will temporarily feel some cost increase (which is completely understandable). But if the American MSM keep attacking the tariffs, and the Dem Presidential hopefuls proclaim that it is bad policy, it makes negotiating far more difficult! They will risk waiting in hopes that Trump isn’t re-elected, and China can keep stealing from us. The media & Dems must all be united in this fight for fair trade (Dems keep touting how they are for groups to pay their fair share, and for equality- well, then they should prove it!!)

  18. We the people should never have allowed ourselves to become so dependent on China for everything. Imagine all the trash produced by cheap Chinese junk!!!

  19. Why in the hell will Chris Wallace would ask about a timeline or quitting the negotiations if things don't turn out right because it will reveal strategies. I know China will watch this interview and see what they will pick up.

  20. I used to believe that Chris Wallace would have the sense to eventually come around but, alas, he's just one of the hopeless clowns pretending to be a journalist (what a waste of humanity).

  21. Thanks for your Tweets Mr. President, it keeps us very up to date. Very transparent to American People. Thank you and GOD BLESS YOU ALWAYS to win ALWAYS. People who criticize you, are the one LOOKING FOR YOUR TWEEEEETS!!!
    It is American Chines companies pay to the Govt of America, Chris, Is it hard to understand???

  22. Blows my mind that Wallace would ask how long we are willing to do Tariffs. Like we're going to announce "2 Weeks" so China can just wait 2 weeks for them to end. Its as if Wallace has 0 common sense.

  23. Imports from China are 2.7%.Expots are 0.9%. Over 96% of our economy IS NOT trade with China. We DONT NEED THEM. We should boycott them and give the world a choice. Trade with us or them who oppress and put citizens in concentration camps. 10 Years ago Trump said we pay them for their crap and then borrow back the money we gave to them. Stick to your guns Trump. Don't listen to the globalists elite. Especially Biden whos gotten billions from China in bribes in the form of payments to his sons businesses. Trump 2020….Trump 2024

  24. America is the buyer, we have higher hand in negotiations, India Mexico Vietnam and others would gladly make these goods. Why should we buy and support a military adversary. I will tell you.. because they hold billions of dollars of treasury bonds and that's a bit of a pickle we are in from the free trade fever of the Bush administration's and Obama.

  25. Ba Bye Larry..you contradicted the Führer….start packing your things. You'll be called some 3rd grade name like "loser Larry"….or "loopy larry"…then you'll be gone in a month.

  26. If you're an American company and you're buying from China because the majority of stuff that you see in stores are from China stop buying stuff from China buy from Vietnam buy from South Korea buy from India buy from any other country you want if you're worried about the tariffs how about you start making the product yourself if you need it that badly and probably be cheaper this economy is going to take all of us may be taking a little hickey but it'll be worth it in the end

  27. The incentive for Chinese companies is to move out of China or move back to America. They can move to other countries like Vietnam. I either case China is going to slow down. The American Economy is strong and will weather this storm.

  28. The more I Listen to Chris Wallace the more he sounds like a Covert Clinton Crony. Another secret Trump hater.

  29. We have been leaderless for 50+ years. People freaking out about this don't understand what these kind of deficits with China mean. We finaly have a President that is at least willing to TRY….

  30. The question he should be asking is WHY a tarrif on China would effect our families spending? NAFTA. Shifting manufacturing overseas. We shouldn't have to ship all those products from China in the first place. We've been spoiled by cheap crap from China for too long. We can't just keep letting them steal Intellectual Property!

  31. Love how people here are prompt on criticising Wallace. Apparently he should not ask uncomfortable questions. Well that's his JOB! I get the feeling that viewers cannot tolerate any remark that goes counter to their beliefs anymore. Sad!

  32. This is Corporate Media! Lies come first! Are you entertained or educated? Trump-Sluts don't know the difference anymore.

  33. Where do these people go to lean how to lie with a straight face , he kinda stumbled because it wasn’t his lie it was trumps , but like a champ . We both will pay, we both will pay

  34. If a thief is stealing from your house, "YOU STOP HIM" you don't say, oh maybe he'll find god & stop stealing from me eventually! No, you stop him with a sledge hammer so he wont do it again! America must stop being sheepel & return to being the lion. MAGA!

  35. It's so refreshing to see an actual journalist on Fox. I think maybe people have forgotten about the "fair and balanced" part of reporting. I admire Chris Wallace. It gives me hope for Fox.

  36. This trade war Donald Trump is waging with China is only costing you American's more in consumer costs and it's also devastating your farmers who are going to get socialistic(welfare) payments due to the fact that they can't get rid of their products,, in fact some Farmers still have produce from last year that they haven't sold? Trump stated that he would give this food to poor countries and bail out farmers with some cash.. don't understand how Americans tolerate your president's lack of knowledge of economics.

  37. Kudlow is a cocaine addict and it still shows. Funny Kudlow never finished any type of school or college – but he is a Trum-Pisstard adviser. Laughable.

  38. Here is a way to approach liberals, if trump tariffs slow the economy, a slower economy will emits less Co2, The world maybe wont end as soon as they're saying. Its a win win situation

  39. Kudlow knows he is between a rock and a hard place -Trump has to deliver he has gone all in failure is not an option !. China can walk away from USA and it can walk away from USA -100 % tarrifs by USA would make leaving easy -Trump knows this so he is getting desperate !.Remember USA is bankrupt -illegal sanctions are being challenged as is USA payment system for international trade SWIFT -abuse of SWIFT is US main hold over other countries backed up by US dollar reserve currency .New system awaiting currency reset do USA will soon lose power to sanction countries who USA opposes !. Time for is not on Trump's side !

  40. Hello, I am the American inventor Adam Ramos. To produce many of my products I need to license intellectual properties, patents. Like Newton said, if I am tall it's only because I stand on the shoulders of giants. I have patents myself and I license patents. China does not share our views on intellectual property. They do not pay licensing fees, hurting the original inventor and disincentivizing innovation. So even if I charge 0 for labor, my costs are higher than my Chinese counterparts. I can't even get close regardless of labor costs. For years you've been told China beats us on the market because they work for next to nothing. Not true. Even if I actually worked for nothing they would still beat me. My prices are artificially high due to my government. I may have voted for Hillary, but, I am very proud President Donald Trump has stepped up and made Chinese prices artificially high to match what I and the rest of the western world's innovators deal with and have dealt with for decades. Thank you for your time. Thank you Mister President.

  41. Republicans you do know China is slashing tariffs on imports from five Asian countries in a move that could strengthen its defenses in a trade war with the United States.

  42. Larry Kudlow is more honest than his boss in this case. US consumers will have to absorb 21% out of the 25% Tariffs.
    BBC reported that will equal to approx. $767 / US household. Ask your boss for a pay rise.

  43. you can see how Kudlow sheepishly admits its a tax on the consumer…because he knows you have to lie for trump and keep the con going or suffer the consequences ..ba bye larry. you'll be gone soon.

  44. If you so naive and stupid to let China cheat you for more than twenty years then you fully deserve it lol, you should be fired for your failings and sleeping on the watch!

  45. 🤦‍♂️🤦‍♂️🤦‍♂️some people just don't want to understand, tolerate and hear the truth.

  46. Those figures are insane. Nobody's forcing anyone to buy Chinese goods; the price increase is meant to promote local goods over Chinese, hurt their sales and, thereby, hurt their exports. It is a coercive strategy just like sanctions.

  47. Can someone please question what had been so UNFAIR about our trade with China besides the intellectual property part? How had China been taking advantage of us and how did we allow it in the first place? Perhaps, the concessions we are asking of China in the trade talks are the answers, but they never say what they are. I need details.

  48. We were never that close.. Chinese don’t openly say no…so getting their redlines is key. Kudlow judging it before seeing their response is intentional to corner the Chinese.

  49. Yeah intellectual property theft has to be fixed. It might be a daunting task meaning we steal all their ideas on car manufacturing nowadays and metal forging and the demand for It in America is like the demand for drugs but it's still an issue we have to address even if we'll probably never win it because we are the cause of it. We invent the light bulb and the car and they Mass produce it and then sell it back to us. Can't wait for the new iPhone 27 to come out! Go Trump Mega

  50. No signs of backing off trade WAR with China. It"s TRADE stupid!! IT"S Not a WAR. Trump Know body wins in a trade WAR When one trades it only works out as a TRADE when there is so to speak a win win for all parties. Trump still has that zionistic tulmudic hate filled eye for an eye MIGHT MAKES RIGHT mind set It's garbage throw it away. You grew up in an environment of organized crime taught by the biggest and most inflential to all american organized crime. the man who held the purse strings to the crime in north America= Roy Cohn. He taught you his ideology. It is poison. That ideology is barbaric void of respect. take abortion The Harretz featured a women of some influence Of occupied land called Israel saying prolife is antisemetic because prolife is against her jewish belief. She said according to jewish belief the unborn child is but an apendage to the womens body and there should be no qulims about cutting it off. Barbaric, and backward to say the least I say. No the organised crime in this world knows full well the gate way they want open wide .They would have oodles of undocumented persons trained from birth to be a slave to the evil of the under world., oodles of persons able to be desposed of because they are the aborted ones privaliged to be alive by their masters who can make them do all and any bidding. Fetal tissue is already big bucks but what is wanted is whole live tissue so they can do what hey want to the personages Right now the market has to settle with pieces parts and occatioally a whole fatal person they revive when they can. DOWN WITH JEWISH SUPRIMACY send it back to hell.

  51. Support the President. Demand a fair trade agreement with the Chinese. Stop worrying about the cost of your iPhone. Fair, verifying intellectual property rights & US businesses & consumers need to suck it up.

  52. CHRIS CHINA WILL PAY BECAUSE I DON'T HAVE TO BUY FROM CHINA PERIOD WE NEED TO DEAL WITH INDIA AND WE CAN REMOVE CHINA WE DON'T KNEED THEM

  53. CHRIS SHUT YOUR HOLE THIS MAN IS VERY BRILLIANT YOU JUST WANT TO SPIN HIM LISTEN TO HIM QUIT INTERRUPTING FOR YOUR TWIST

  54. I agree small lost for a short time for BIGGER gain better trade… HELL farmers will have it worst if the DEMBO"S get in control and put there Socialism in America

  55. who F ucking cares !! China took ALL THE factory jobs from the EU & the USA because they practice slavery !! SO you liberals buy a book on ecom!! GO TRUMP !

  56. when i read all the americans comment and this news, it seems like they have small brain to understand, china have some raw material and big market for American's companies, what will happen if china abuse them??? simple u lose ur jobs, it isnt as simple as what fox and trump think, company wont move the factory to US also, hello there are some countries have low pay worker, why would i move the factory to usa if vietname can provide low paid worker???

  57. It has been 10 years after last recession. According to historical recession and boom cycles, it's near the time there will be another recession.

  58. 🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️you trump supporters are something else honestly , your stupidity level is beyond God's understanding.

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