Asia expert Gordon Chang discusses the U.S.-China trade negotiations with Lou Dobbs and why President Trump should consider raising tariffs on Chinese imports on March 1st.
Massive pressure is being applied by Chinese purchased interests including Wall Street, the multinational corporate lobbying groups; the U.S. Chamber of Commerce and all of the global financial elite, to oppose President Trump’s confrontation with Beijing.
Q How confident are you that it will be finished by March 1? Or are you considering extending that deadline?
THE PRESIDENT: Well, they are very complex talks. They’re going very well. We’re asking for everything that anybody has ever even suggested. These are not just, you know, “let’s sell corn or let’s do this.” It’s going to be selling corn but a lot of it — a lot more than anyone thought possible. And I think the talks are going very well — with China, you’re referring to?
THE PRESIDENT: And the talks are going very well.
Our group just came back and now they’re coming here. I can’t tell you exactly about timing, but the date is not a magical date. A lot of things can happen.
The real question will be: Will we raise the tariffs? Because they automatically kick in to 25 percent as of — on $200 billion worth of goods that they send. So I know that China would like not for that to happen. So I think they’re trying to move fast so that doesn’t happen. But it’s — we’ll see what happens.
I can only say that the talks with China on trade have gone very, very well. In the meantime, our economy is very strong. We’re doing well.
I don’t know if you noticed, but deficits seem to be coming down. And last month it was reported, and everybody was surprised, but I wasn’t surprised. We’re taking in a lot of money coming into our Treasury from tariffs and various things, including the steel dumping. And our steel companies are doing really well. Aluminum companies also. So we’re very happy about that.
I think that it’s — they’ll be coming very shortly. They’re going to have very detailed discussions on subjects that have never really been even discussed by people that sat in this chair and they should have been. Very important subjects. And I think we’re doing very well. Okay?