In a fiery response to China’s latest tariff hikes, former President Donald Trump’s trade team isn’t backing down. White House spokeswoman Karoline Leavitt says Trump remains “optimistic” about reaching a deal with Beijing, but warns that retaliation won’t end well for China.
00:00We are maintaining critical supply chains here in America.
00:03We cannot be dependent on countries like China if we want this country to be strong and wealthy.
00:08If China intends to make a deal with the United States, if China continues to retaliate, it's not good for China.
00:14The United States of America is the strongest, best economy in the world.
00:18Why would any of our allies work with us to isolate China in a trade war if we're treating friend and foe alike?
00:24For my next question, I actually want to give a voice to the American people.
00:27I sourced a question from one of my listeners. Her name is Bryn. She is from Oregon.
00:31And she asked, what, if any, plans do you have, the administration, for the money that will be generated by tariffs imposed on foreign goods?
00:40How will the administration facilitate the development of American industries when many critical components, labor parts, etc., are much cheaper and more feasible from foreign entities?
00:50It's a great question from your listener, and I want to thank her for submitting it to you to ask.
00:54That's part of the new media seed is so that everyday Americans across the country have a voice in this room.
00:59So thank you again for being here. Thanks for the question.
01:02The President's point about his trade and tariff agenda is to bolster our manufacturing industries here in our country,
01:09to bring down the cost of living here in our country,
01:12and to ensure that we are maintaining critical supply chains here in America.
01:16We cannot be dependent on countries like China if we want this country to be strong and wealthy.
01:22So the President wants to restore wealth to America by shoring up these jobs here at home,
01:27which will result in good-paying jobs and higher wages for the American public.
01:31And so Americans should trust in that process.
01:34He effectively implemented tariffs in his first term while driving down the cost of living in this country,
01:39and that's what he's focused on doing again. Thank you.
01:42As a follow-up question, could I just ask,
01:43are there any specific ideas that the administration has as to what that revenue,
01:48specific tariff revenue will be used for?
01:50Sure. Yes. To the heart of your question,
01:51the President has spoke about the trillions of dollars that he expects in revenue from tariffs
01:55and how we can use it to pay down our debt
01:57and to ensure that we are no longer faced with a crippling national debt in the trillions.
02:03That is going to bankrupt our nation for future generations.
02:06President Trump has said China wants to make a deal on tariffs.
02:09The President says he has a great relationship with Chinese President Xi.
02:12He's willing to speak with him directly.
02:14Why doesn't the President just pick up the phone and get this ball going?
02:18All of the things the President just said are true.
02:20The President, as I said from the podium just a few days ago when I was up here,
02:24would be gracious if China intends to make a deal with the United States.
02:28If China continues to retaliate, it's not good for China.
02:32The United States of America is the strongest, best economy in the world,
02:35as evidenced by the more than 75 countries who have called the administration immediately to cut good deals.
02:41So the President wants to do what's right for the American people.
02:44He wants to see fair trade practices around the globe, and that's his intention and his goal.
02:49So is he waiting for China to make the first move here?
02:51I'm not going to comment on communications that are happening or may not be happening or either way.
02:56We'll leave it to our national security team to get these discussions underway.
03:01And as always, in the effort of transparency, we will provide updates moving forward.
03:05But the President has made it very clear he's open to a deal with China.
03:08Why is he optimistic that China is going to make a deal or wants to make a deal if they're not talking?
03:13Where does that optimism come from?
03:14He's optimistic.
03:14Why would any of our allies work with us to isolate China in a trade war if we're treating friend and foe alike?
03:23You'll have to talk to our allies who are reaching out to us.
03:26The phones are ringing off of the hooks.
03:27They've made it very clear they need the United States of America.
03:30They need our markets.
03:31They need our consumer base.
03:33You saw Prime Minister Benjamin Netanyahu in the Oval Office with the President saying that he was going to bring down all of their monetary tariffs
03:40and their non-monetary tariff trade barriers as well.
03:44We've heard from South Korea.
03:46We've heard from Japan.
03:47The President has spoken to Vietnam.
03:48We have Italy coming to the White House next week.
03:51There's a reason for that, Sean, and it's because they need the United States of America and our business model and our markets to survive.
03:57And the President is using that leverage to our advantage.
04:00Michael.
04:00The Press, thank you, Caroline.
04:02Two-part question from China.
04:03Beijing says it will simply ignore any further tariff escalations from the U.S.
04:08Does President Trump see this as China backing down?
04:12And as a follow-up to that, what do you say to people like Shark Tank's Kevin O'Leary who say,
04:16you guys simply haven't tariffed China enough?
04:19Look, the tariff rate on China remains where it was yesterday at the 145 percent level.
04:25The President made it very clear when the United States is punched, he will punch back harder.
04:29And he hopes to make a deal that benefits the American worker and our companies that have been ripped off for far too long.
04:36And he's finally taking bold and courageous action to do that.
04:39You know, taking on China is, in the terms of trade and tariffs, is something that both Democrats and Republicans alike have spoken about for decades.
04:47President Trump is finally doing it.
04:49There have been big swings this week in the Treasury bond yields.
04:53There's a theory that it might be because of China dumping these as leverage, driving up costs for U.S. loans like mortgages.
05:02Does the White House have evidence that this is, in fact, a result of Chinese dumping?
05:05And if so, is there a message on that?
05:07Not to my knowledge, but I would check in with the Treasury Department on that.
05:10I can tell you I know our Secretary of Treasury, Scott Besant, is keeping a very close eye on the bond market.
05:16He spoke about it at the White House this week, and I know he's keeping his eyes on it day to day.
05:20Subscribe to One India Channel and never miss an update.
Be the first to comment