Can Trump order US companies to stop working with China?

Can Trump order US companies to stop working with China?


>>Chris: JOHN ROBERTS REPORTING FROM THE G7 IN FRANCE. THANKS FOR THAT. JOINING US NOW FOR AN EXCLUSIVE INTERVIEW FROM THE SUMMIT, TREASURY SECRETARY STEVEN MNUCHIN. MR. SECRETARY, I WANT TO ASK YOU FIRST ABOUT THE PRESIDENT’S COMMENT THIS MORNING THAT HE HAS SECOND THOUGHTS ABOUT THE TRADE ONE WITH CHINA, WHICH SET OFF SOME CONFUSION, WHICH I HOPE YOU WILL CLEAR UP, WHICH IS IT? IS HE REGRETTING HOW FAR THE TRADE WAR HAS GONE? IS HE THINKING ABOUT HOLDING OFF ON ANOTHER ROUND OF TARIFFS, OR DOES HE WISH HE BEEN EVEN MORE AGGRESSIVE?>>Secretary Mnuchin: WELL, CHRIS, IT’S GREAT TO BE HERE WITH YOU. THE PRESIDENT IS DETERMINED TO HAVE FAIR AND RECIPROCAL TRADE WITH CHINA IN THIS MORNING’S COMMENT WAS MEANT TO SAY THAT HE’S DETERMINED AS EVER ON THIS ISSUE. HE WANTS A GOOD DEAL. HE WANTS FREE, FAIR, AND RECIPROCAL TRADE.>>Chris: PRESIDENT TRUMP TWEETED THIS ON FRIDAY ABOUT AMERICAN BUSINESSES, I WANT TO PUT IT UP ON THE SCREEN. “OUR GREAT AMERICAN COMPANIES ARE HEREBY ORDERED TO IMMEDIATELY START LOOKING FOR AN ALTERNATIVE TO CHINA, INCLUDING BRINGING YOUR COMPANY’S HOME AND MAKING OUR PRODUCTS IN THE USA.” MR. SECRETARY, IS THE PRESIDENT ORDERING U.S. COMPANIES TO STOP DOING BUSINESS WITH CHINA AND IF SO, UNDER WHAT AUTHORITY?>>Secretary Mnuchin: WELL, HE WOULD HAVE THE AUTHORITY TO DO THAT IF HE DECLARED AN EMERGENCY. HE HAS NOT DONE THAT. I THINK WHAT HE WAS SAYING IS HE’S ORDERING COMPANIES TO START LOOKING BECAUSE HE WANTS TO MAKE SURE TO THE EXTENT WE ARE IN AN EXTENDED TRADE WAR THAT COMPANIES DON’T HAVE THESE ISSUES AND MOVE OUT OF CHINA AND WE WANT THEM TO BE IN PLACES WHERE THEY ARE TRADING PARTNERS THAT RESPECT US AND TRADE WITH US FAIRLY.>>Chris: I WANT TO JUST PUSH DOWN ON US A LITTLE BIT BECAUSE THE PRESIDENT CLAIMS HE DOES HAVE AUTHORITY ON SOMETHING CALLED THE EMERGENCY ECONOMIC POWERS ACT PASSED IN 1977, HERE HE IS ON FRIDAY NIGHT.>>WHILE IN 1977 WE HAD AN ACT PASSED, A NATIONAL EMERGENCY — WE WILL SEE HOW THAT GOES BUT I HAVE THE ABSOLUTE RIGHT. 1977, CHECK IT OUT.>>Chris: BUT THERE ARE A COUPLE OF PROBLEMS HERE, MR. SECRETARY. FIRST OF ALL, AS YOU POINTED OUT THE PRESIDENT HAS TO DECLARE A NATIONAL EMERGENCY, WHICH HE HASN’T. SECONDLY, THE ACT ONLY BLOCKS AMERICAN COUNTRIES SENDING FUTURE FUNDS, NOT PAST INVESTMENTS. AND ALSO IN THE PAST OF THE LAST 42 YEARS HAS ONLY BEEN USED TO STOP BUSINESSES WITHOUT LAW NATIONS OR WITH DRUG DEALERS, NOT WITH TRADING PARTNERS. SO IS THIS REALLY A REALISTIC OPTION FOR THE PRESIDENT?>>Secretary Mnuchin: THE PRESIDENT HAS LOTS OF OPTIONS. AND AGAIN, OUR FIRST CHOICE IS TO HAVE FAIR AND RECIPROCAL TRADE. THE REASON WHY WE PUT ON TARIFFS IS FOR THE LAST TWO AND A HALF YEARS WE’VE BEEN WORKING WITH CHINA TO REBALANCE THE TRADING RELATIONSHIP AND IT HASN’T REBALANCED. THE TRADE DEFICIT HAS GROWN SIGNIFICANTLY DESPITE ASSURANCES FROM CHINA THAT WE WOULD IMPROVE THIS. AS YOU KNOW, WHEN WE WERE CLOSE TO A DEAL, THE PRESIDENT WAS HAPPY AND THEY BACKED OFF OF THAT. SO THE PRESIDENT DOES HAVE LOTS OF AUTHORITIES. YOU KNOW WE USE THESE AUTHORITIES SUCCESSFULLY WITH MEXICO ON CERTAIN ISSUES THERE. WE NOW ARE CLOSE TO HAVING TO FLEE USMCA PAST. A TERRIFIC MEETING WITH CANADA TODAY ON THIS AND WE’RE LOOKING FORWARD TO GETTING THAT AGREEMENT PAST.>>Chris: SO JUST TO THIS UP, THE PRESIDENT FULLY INTENDS TO IMPOSE THE NEXT ROUND OF SANCTIONS AS HE’S ANNOUNCED ON SEPTEMBER 1ST UNLESS THERE IS SOME BREAK IN THE NEGOTIATIONS?>>Secretary Mnuchin: ABSOLUTELY. AND TO THE EXTENT THAT THE CHINESE RESPOND AGAIN, YOU CAN ASSUME THE PRESIDENT WILL CONSIDER ALL HIS OPTIONS.>>Chris: I WANT TO ASK YOU ABOUT ANOTHER TWEET FROM THE PRESIDENT ON FRIDAY, LET’S PUT THIS UP ON THE SCREEN. THE ONLY QUESTION IS, WHO IS OUR BIGGER ENEMY, JAY POWELL, THE HEAD OF THE FEDERAL RESERVE, OR THE PRESIDENT OF CHINA? QUESTION, DOES THE PRESIDENT REALLY REGARD THE CHAIRMAN OF THE FEDERAL RESERVE, WHOM HE APPOINTED, TO BE AN ENEMY OF THE COUNTRY AND I GUESS A LARGER QUESTION, WHICH IS WITH ALL OF THESE STATEMENTS FROM THE PRESIDENT, ALL OF THESE TWEETS, HOW SERIOUSLY, HOW LITERALLY SHOULD WE TAKE WHAT THE PRESIDENT SAYS HE MET>>Secretary Mnuchin: WELL, LET ME FIRST COMMENT ON THE PRESIDENT SHE SIDE OF THIS. I WAS WITH PRESIDENT TRUMP TODAY AND HE WAS VERY CLEAR THAT PRESIDENT XI IS STILL HIS FRIEND, HE HAS A VERY GOOD RELATIONSHIP WITH PRESIDENT XI. WE WORKED ON LOTS OF DIFFERENT THINGS TOGETHER, BUT AS IT RELATES TO FINANCIAL ISSUES AND TRADE, WE HAVE BECOME ENEMIES. WE ARE NOT MAKING PROGRESS. BUT THIS WAS NOT INTENDED TO SEND A MESSAGE THAT PRESIDENT XI IS HIS ENEMY IN THE SENSE OF ALL THESE DIFFERENT AREAS AND THE OTHER THING I WOULD SAY IS WE ARE VERY HOPEFUL THAT THERE WILL BE A HUMANE SOLUTION IN HONG KONG. WE ARE OBVIOUSLY WATCHING WHAT’S GOING ON THERE. THE PRESIDENT AGAIN REITERATED HE THINKS THAT PRESIDENT XI SAT DOWN WITH THE PROTESTERS, HE COULD GET THIS OVER WITH IN A FEW HOURS, SO WE ARE HOPEFUL THAT THERE WILL BE CALM IN HONG KONG.>>Chris: LET ME PICK UP ON THAT. IF THERE ISN’T, IF THE CHINESE WERE TO CRACKDOWN AS THEY DID IN TIANANMEN SQUARE IN 1989, WHAT IMPACT WILL THAT HAVE ON U.S. RELATIONS WITH CHINA?>>Secretary Mnuchin: ARE NOT GOING TO SPECULATE BECAUSE THAT’S NOT THE OUTCOME WE ARE HOPING FOR. THE OUTCOME WERE HOPING FOR IS A PEACEFUL OUTCOME. I THINK YOU KNOW THERE WAS A DEAL WITH THE U.K. ONE HONG KONG WAS TRANSFERRED OVER. WE WOULD EXPECT CHINA TO MEET THAT DEAL. AND IT’S SOMETHING WE HOPE THEY RESPECT THE LAWS AND THEY RESPECT WHAT’S GOING ON THERE BUT PRESIDENT TRUMP IS HOPING THERE WILL BE A HUMANE SOLUTION THERE.>>Chris: SO YOU WERE AT PAINS TO SAY CHAIRMAN SHE IS NOT AN ENEMY OF THE COUNTRY, BUT YOU DIDN’T SAY THE SAME ABOUT FED CHAIRMAN POWELL.>>Secretary Mnuchin: REALLY I WANTED TO FIRST COMMENT ON PRESIDENT XI. ON POWELL I THINK — I DON’T THINK IT WAS A LITERAL COMMENT THAT HE IS AN ENEMY, BUT YOU KNOW MY POSITION ON THE FED IS THAT I DON’T MAKE SPECIFIC COMMENTS ABOUT THE FED. I MEET WITH CHAIRMAN POWELL WEEKLY AND AS MY ROLE AS TREASURY SECRETARY, I DON’T COMMENT SPECIFICALLY ON THE FED.>>Chris: BUT THIS DOES BRING UP THE BIGGER QUESTION, WHICH I DO WANT YOU TO ADDRESS. FOR AMERICANS, WHETHER JUST PEOPLE, PEOPLE INVESTING, CEOs, WHEN THE PRESIDENT SAYS SOMETHING, HOW SERIOUSLY, HOW LITERALLY SHOULD WE TAKE IT?>>Secretary Mnuchin: I THINK MOST OF THE TIME YOU SHOULD TAKE IT VERY LITERALLY. I THINK SOMETIMES HE SAYS THINGS THAT ARE MEANT TO BE A JOKE. OBVIOUSLY THE COMMENT RECENTLY ON THE CHOSEN ONE, THAT WAS SAID TONGUE-IN-CHEEK. IF THAT WASN’T MEANT TO BE A SERIOUS COMMENT. I THINK MOST PEOPLE KNOW THE PRESIDENT IS SERIOUS ABOUT CHINA AND TRADE, SO PEOPLE SHOULD UNDERSTAND THAT. HE IS VERY DETERMINED. HE’S TRYING TO CORRECT SOMETHING THAT’S GONE ON FOR THE LAST 20 YEARS, BUT WE HAVE A VERY UNFAIR TRADING RELATIONSHIP THAT’S BEEN A TREMENDOUS DISADVANTAGE TO U.S. COMPANIES AND U.S. WORKERS. AND HE’S WORKING HARD TO REBALANCE THAT.>>Chris: WHEN CHAIRMAN POWELL SPOKE AT THAT FED CONFERENCE OUT IN WYOMING ON FRIDAY, HE SAID ONE OF THE GREATEST HEADWINDS THAT HE AND THE ECONOMY ARE FACING ARE THE PRESIDENT’S TRADE POLICIES. IN FACT, THERE ARE A NUMBER, AND I THINK WE COULD ALL AGREE, THERE ARE A NUMBER OF SIGNS OF STRENGTH IN THE ECONOMY, ESPECIALLY JOBS, ESPECIALLY GDP GROWTH, AT LEAST SOLID SIGNS OF STRENGTH, BUT THERE ARE SOME CONCERNS AND I WANT TO ASK YOU ABOUT THOSE. GROWTH OF BUSINESS INVESTMENT DROPPED FROM 9% LAST YEAR TO 1.4% NOW IN THE MANUFACTURING SECTOR HAS CONTRACTED FOR THE FIRST TIME SINCE 2009. SECRETARY MNUCHIN, MANY FINANCIAL EXPERTS SAY ONE OF THE BIGGEST HEADWINDS THAT THEY NOW FACE AS COMPANIES DECIDING WHETHER TO INVEST MORE INVESTORS DECIDING WHETHER TO PUT MORE MONEY IN THE STOCK MARKET, IS UNCERTAINTY ABOUT ADMINISTRATION POLICIES AND THAT THAT UNCERTAINTY IS A MUCH BIGGER PROBLEM THAN WHETHER OR NOT THE FED SHOULD DROP INTEREST RATES 100 BASIS POINTS OR 1%.>>Secretary Mnuchin: LET ME FIRST COMMENT THAT THE SINGLE BIGGEST THING THAT EVERYBODY IS TALKING ABOUT HERE IN FRANCE IS THE U.S. ECONOMY. IF THE BRIGHT SPOT IN THE WORLD. WE HAVE GROWTH. PEOPLE ARE NOT TALKING ABOUT DOING TAX CUTS AND CUTTING REGULATIONS IN EUROPE, SO PEOPLE ARE LOOKING AT THE TRUMP ECONOMIC POLICIES AND WANTING TO REPLICATE THEM, BECAUSE THAT’S THE REASON WE HAVE ALL THIS GROWTH. SECOND ISSUE I’D SAY IS THE CONSUMER IS VERY, VERY STRONG. WE ARE SEEING THAT ACROSS THE BOARD AND THE THIRD ISSUE I WOULD SAY IS ON THESE OTHER STATISTICS I THINK YOU’VE GOT TO LOOK AT THEM QUARTERLY. THERE IS A BUNCH OF VOLATILITY. AT THE END OF LAST YEAR PEOPLE WORRY ABOUT THE ECONOMY SLOWING DOWN BASED UPON SOME NUMBERS AND THEN THE NUMBERS CAME OUT IN THE BEGINNING OF THIS YEAR AND IT WAS CLEAR THE ECONOMY WAS ROARING BACK. AND AS IT RELATES TO UNCERTAINTY, THERE’S ONLY ONE AREA, AND THAT’S TRADE. WE ARE CLOSE TO HAVING A MAJOR ANNOUNCEMENT WITH JAPAN. WE EXPECT TO HAVE USMCA PASSED IN THE NEXT MONTH OR TWO. THAT’S GOING TO ADD A SIGNIFICANT AMOUNT TO U.S. GROWTH AND GROWTH IN MEXICO. AND IN CANADA, WE HAD THE KOREA DEAL DONE. IF THERE’S THREE OR FOUR OTHER MAJOR AGREEMENTS THAT THE AMBASSADOR IS WORKING ON. SO THESE TRADING RELATIONSHIPS ARE GOING TO ADD SIGNIFICANTLY TO GROWTH AND WE ARE STILL SOMEWHAT HOPEFUL THAT CHINA WILL COME AROUND AND ENTER INTO A FAIR, GOOD DEAL WITH US.>>Chris: LET ME JUST PUSH BACK A LITTLE BIT ON THE IDEA THAT THE ONLY CONCERN IS TRADE. BECAUSE THE PRESIDENT HAS FLIPPED ON A FEW ISSUES. FOR INSTANCE, TARIFFS AND TAXES IN RECENT DAYS AND I WANT TO PLAY SOME OF HIS CONTRADICTORY STATEMENTS. SPEAK OF THE TARIFFS ARE NOT BEING PAID FOR BY OUR PEOPLE, IT’S BEING PAID FOR BY CHINA. WE DO IT FOR THE CHRISTMAS SEASON, JUST IN CASE SOME OF THE TARIFFS WOULD HAVE AN IMPACT ON U.S. CUSTOMERS.>>PAYROLL TAXES SOMETHING THAT WE THINK ABOUT AND A LOT OF PEOPLE WOULD LIKE TO SEE THAT.>>ARE NOT LOOKING AT A TAX CUT NOW, WE DON’T NEED IT, WE HAVE A STRONG ECONOMY.>>Chris: THE ISSUE IS WHETHER OR NOT — YOU CAN SEE THIS WIDELY. I’M SURE YOU’VE READ IT TOO, SECRETARY, WHETHER THIS ADMINISTRATION HAS A STEADY PATH TO KEEP US OUT OF RECESSION. AND THE QUESTION I GUESS I HAVE FOR YOU IS AS THE MARKETS OPEN ON MONDAY AFTER FALLING 600 POINTS IN JUST A FEW HOURS ON FRIDAY, WHAT DO YOU HAVE TO SAY TO THAT?>>Secretary Mnuchin: CHRIS, FIRST OF ALL, WE DON’T SEE A RECESSION ON THE HORIZON. I DON’T THINK THE YIELD CURVE REFLECTS A DISSENT RECESSION. I THINK THE YIELD CURVE REFLECTS THE FACT THAT IT ANTICIPATES THE FED IS GOING TO LOWER SHORT-TERM RATES. AND THE LONG AND HAS ALREADY REFLECTED THAT. IF THAT’S THE THING. THE SECOND THING ON TARIFFS, THE REASON WHY THE PRESIDENT DECIDED TO DELAY 150 BILLION OF TARIFFS WAS BECAUSE U.S. COMPANIES HAD ALREADY PURCHASED THOSE GOODS FOR HOLIDAY IN U.S. DOLLARS, SO IT WAS A VERY SPECIFIC SITUATION THAT HAD NOTHING TO DO WITH PASSING ON OR NOT PASSING ON — THOSE HAD BEEN PERMITTED TO PRIOR TO THE TARIFFS GOING INTO EFFECT AND THAT’S SOMETHING WE WANTED TO DO AS IT RELATES TO HOLIDAY. AS IT RELATES TO PRICES GOING UP, GOING FORWARD WE HAVE SEEN CHINA DEPRECIATE THEIR CURRENCY. THAT’S GOING TO MEAN THAT A SIGNIFICANT AMOUNT OF THE TARIFFS ARE PAID FOR BY CHINA. IF WE HAVEN’T ANY INFLATION YET. WE HAVEN’T SEEN PRICES GO UP. WE WILL HAVE SOME EXCEPTIONS FOR THE RARE CIRCUMSTANCES WHERE WE HAVE PROBLEMS AND THE AMBASSADOR IS RUNNING THAT. SO I DON’T THINK THERE’S ANY MISCHARACTERIZATION ON THE TERRACE ISSUE. AND I’D BE HAPPY TO COMMENT ON THE TAX ISSUE IF YOU WANT AS WELL.>>Chris: WE ARE OUT OF TIME. BUT THAT’S ONLY A BETTER REASON FOR YOU TO COME BACK WHEN YOU’RE BACK IN HIS COUNTRY AND SET ACROSS THE DESK FROM US AND WE WILL HAVE A CONVERSATION. SECRETARY MNUCHIN, THANK YOU, THANKS FOR TAKING TIME FROM THE SUMMIT TO SPEAK WITH US AND WE

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100 thoughts on “Can Trump order US companies to stop working with China?”

  • lalala blablabla says:

    John Paul Jackson prophesied in 2008 that the us economy would collapse because of trade war with china by 2020. He is right about everything

  • America didnt ask much of China….. stop stealing, and crack down on illegal drug exports, fair trade.
    China is miscalculating greatly if they think Americans wont ditch Chinese products over illicit drug trades.

  • People might look at the history of Chinese trade with Britain prior to the opium wars. Interestingly you might find out that the trade war England had with China was the background cause of the Boston Tea Party. Of course, in those days, Britain could solve that China problem with a bunch of warships forcing the emperor to accept terms….. We can't quite do that right now… but China has NEVER given up on their one sided trade deals… they had them almost 200 years ago.

  • Cinema Madness says:

    I live in China, this trade war is more than warrented. They steal so much from not only America, but Germany, and Japan. I kid you not they have stores, apps, and products that are taking foreign intellectual property and making profits off it without paying any royalties. They dont even sell Dvds or physical media here, its all downloaded illegally. It needs to stop.

  • We are matching and exceeding Obama era "growth" with high interest rates.
    Obama wasnt even doing this good at this point in his term with the "zero interest rate" cheat code that hyperinflates everything to paper over the bad things and mask them.
    The U.S. is growing, its just a slow growth rate because of the higher interest rates.
    As for the U.S. consumers paying for the tariffs ….. name one freaking chinese import product that you use in your day to day life that went up in price ?
    Exactly…… no price increases for any Chinese goods as of yet, atleast no meaningful price increases.
    China devalued its currency to keep consumer prices of their exports competitive, the chinese worker is paying for the tariffs as their paycheck gets devalued 10% a month in purchasing power….. half the U.S. population isnt even politically awake, most probably dont even realize we have tariffs on right now.

  • Did Trump mean to leave the manufacturing of China, or to leave the market of China? Did Trump think China will continue to allow American companies to sell products and services to the Chinese market if the companies leave China for manufacturing? Did Trump think it will be a one-street, that China will not be allowed to sell to the US, but then China will be forced to continue to allow American companies to sell iPhone, GM cars and Boeing planes to China?

  • Charlie hustle says:

    I'll buy some Chinese made products but not others. If you want me to buy American made only , it better be reasonably priced. I'm not buying overpriced stuff just to make factory worker Cletus happy. I don't care about Cletus at all

  • The economy is fluid… trade, tariffs, and taxes are also fluid, all if which must be monitored closely as they do change quite rapidly… do they not?

  • China is opposed to us completely. They have slave labor. They torture Christians. They force abortions on 2nd child. Why should we betray freedom lovers? We must save the Chinese. Companies should hire Americans.

  • Chris Wallace is a wolf in sheep clothing. He was in ABC and ABC has trained him to be a wolf against conservatives working at FOX. In every interview, he only grill the conservative republicans and walk gently when interview liberal Democrats.

  • Robert Novotny says:

    Chris Wallace needs to go over to m s NBC and C N N he might get better ratings ,china ruined them selves by greed our past dumb presidents with corporate governance greed. Trump is a very good business man and sees a bad deal (NAFTA) he will bring jobs back and a fair deal . Trump2020

  • My my, look at all the triggered Trumpers crying about the evil Wallace for having the temerity to ask pressing questions that hold Republican feet to the fire on major issues.
    "Send him to CNN"
    "What a never-Trumper he is!"
    "So-shull-ist!"
    "Wallace is a trouble-starter!"

    And those were found just from scrolling a few inches.

    The crybaby factor is strong with you everTrumpers. But fear not, for the same happens on the other side whenever a CNN host asks too many pressing questions of a Dem guest, there is always a gaggle of liberals doing the same crying as you are. They are especially sensitive to it now with the primary going on. I mean, how dare they "dig" at MY favorite candidate, right?

    How dare they indeed. See here, fools, Wallace is simply doing what the Carlsons and Hannity's of the world aren't willing to, that being to get meaningful answers from the Trump regimers by asking tough questions with tough follow-ups. He didn't horsewhip this fellow in the above interview, he merely read and played the Pompous 45's own words to him, and then pressed again on certain key questions based on Mr. President's own statements. My God, the nerve of him.

    Newsflash Trumpers: Wallace and Shep are the only shred of sanity left in your oasis of alt-fact and Trump-spin known as FOX.

  • Robert Shrewsbury says:

    I think that China would or will be much better off to be at peace and not flex their muscles so much and bully peoples like in Hong Kong or Taiwan etc! And China needs to be lawful and respect the law

  • Trump's never gonna try to "force" US companies from doing business in China. It's merely a "suggestion" on his part. Why is this a big deal ?

  • Wallace is all about pushing back on everything Conservative and President Trumps policy, I want to know why FOX let’s him work for them!

  • Under the war powers act the President can literally federalize any company. So yeah, if he wants them to move their supply chain out of a country that we might be at war with in the future I'm sure there's a legal way.

  • Robert Shrewsbury says:

    Steven Mnuchin (Treasure Secretary) speak clearly, coherently and cannot be intimidated or word/twisted-planted and that is good!

  • All the Liberal media outlets have misquoted Trump stating he's ordered US companies to pull their business from China.

    How do you misquote that?

    And as to whether a President has the power to make such an order, I don't believe he can, but he can control what comes and goes to China, which is detrimental for any US businesses who have any investments with China.

    Under the 1977 International Emergency Economic Powers Act, Section 203, Paragraph (B), the President has the power to prohibit the transfer of any property subject to the jurisdiction of the United States, during a state of emergency or time of war.

  • When, not if, China invades Taiwan, the President will have the authority to stop all trade with China. He's simply giving the US companies a heads up. Something's imminent.

  • Trump is really putting his staff in a very awkward position. Imagine defending his stupidity on cable news. You really have to be his puppet. smh

  • Munchkin has control of the ESF, the second biggest slush fund next to the taxing power of the IRS mafia operation. Talk about power! And GS always has it, sub rosa or not… The ESF can be used to purchase or sell foreign currencies, to hold U.S. foreign exchange and Special Drawing Rights (SDR) assets, and to provide financing to foreign governments. All operations of the ESF require the explicit authorization of the Secretary of the Treasury ("the Secretary"). ESF IS the corruptly confiscated/stolen gold taken by force/fiat by FDR in 1934.

  • Why is it taking so long for Americans to figure out the FED is not your friend, but globalist owned and operated to continue to stealth tax you, steal your money/value and enslave you?

  • You can not blame the man for digging in on China because of the fact that they steal our technology and use that tech to build weapons and to catch-up and surpass tech because all the background work for those products has been done by others.. I look for him to reach a deal with North Korea and getting them to open up and start putting there millions of people to work and making China obsolete if they are not careful.. but only, if North Korea is willing to put down most of their nuclear programs for bombs, but probably let them work on energy which is an easy solution..

  • Trump acting Iike a true "corporate socialist", why not much more tax breaks for the rich, worked so well the last time you gullible mouth breathers, right?

  • OnFire4Freedom says:

    I am glad we finally have a president with balls who's transferring the power back to the American people according to our constitutional laws. MAGA

  • Eziekle Crafts says:

    PRESIDENT TRUMP IS DOING AN EXCELLENT JOB LISTENING TO AMERICAN CITZENS AND WHAT THEY ASK OF HIM. THIS IS PROOF THAT TRUMP IS ON AMERICAN'S SIDE. I could get use to this.

  • Trump's demands are hypocritical. He's trying to unduly influence the Federal Reserve to manipulate US currency; exactly what he accuses China of doing!

  • It wasn't the Chinese that gutted America through unfair trade…it was Fraud St. and Corporate America that sold America out in search of greater profits…FACT

  • Hiding here from CNn like trash only to discover there's no place to hide. Thanks though he let answer questions without shutting up.

  • Chi88LuckHolistic says:

    Mr. Wallace, why don't you ask the right person regarding your question and that is President Trump since what you were quoting were his tweets? Dahhhhh!!!! How dumb could lthat be asking the wrong person. What you do is trapping the person you were interviewing. I'm pretty sure POTUS could answer your questions since he tweeted one of your comments in the past. Remember POTUS is the CHOSEN ONE 🙂

  • All previous presidents were stupid? US bought goods from China because goods in China has low price and meet the need of US customers. It saved a lot of money for US customers. Trump started "trade war" simply for political speculation rather than economical necessity. He lies when he is wearing a tie from China.

  • The orange idiot doesnt have the power to stop US companies from manufacturing in China. This is just another deluded idea the fool has.

  • Chris Wallace needs to go work for CNN, He doesn't play devils advocate with serious questions, he seriously is in league with the devil.

  • Get those companies back to the U S A. CHINA'S taken our companies, made billiions..trillions off of Trade with us because of EX PRESIDENTS lack of mathematical abilities and lack of leadership……AND THEY STARTED THE OPIOID CRISIS …killing our young Americans. COMMUNIST INVASION. PUT THOSE TARIFFS ON THESE BLOOD SUCKING COMMIES. Bankrupt their Economy. PRESIDENT TRUMP 🕊IS THE ONLY LEADER WITH GUTS…..WILLING TO TAKE THESE "INVADERS"… ON.
    We stand with you MR. PRESIDENT. 🇺🇸🕊GOD BLESS YOU and GOD BLESS THE U S A. 🇺🇸♥️🇺🇸♥️🇺🇸♥️🇺🇸♥️🇺🇸🇺🇸♥️🇺🇸🕊

  • Ouroboros Null says:

    Anytime I come across a Wallace interview, I just thumb it down … then lean back and prepare for Wallace liberal-talking-points posed as questions (Read: bs) … listen to the gong show … puke in my mouth a little … and sure enough … nod in affirmation that my auto thumbs-down was spot on yet again … and move on with even more disgust for the MSM. And for the record: Mnuchin destroyed Wallaces bs starting at the 9:45 mark (just lsiten). Thank you Steven.

  • U.s. companies are selling Chinese goods to american consumers. If Americans boycott chinese made goods they're essentially boycotting american companies. 🙉 then those same american companies will employ less Americans to cut their costs even further which means job losses and higher crime rates.

  • Jose de la Cuadra says:

    HEY Wallace: Pres. Trump's beef is aimed at the CCP, a non-government entity that controls everything China. All your questions are deceptively concocted to see where the administration may be faulted for the current economic difficulties all over. Why not look into China mercantile and unfair trade practices for the last 30 years or more.

  • After the lead paint kids toys, poison dog chews, and contaminated sheetrock from China, I have no problem paying a little more for 'Made in the USA'

  • Rasica Volubrjotr says:

    We bailed all those companies out so they go to China. Hmmmm. If the Fed Govt gives money to states for education, roads, etc which then allows them to control our highways and schooling why would they not control those companies bailed out?

  • This moving Jobs overseas should have never been permitted, the sending jobs to a communist country should be illegal by law.

  • Robert Hubbard says:

    I always wonder when an article is about $$, and people claim trump doesn't know what's he's doing, just how many have some sort of financial degree, and are either millionaires or billionaires. My personal guess is maybe .01% on having a financial degree and 0% are millionaires or above. Simple because those people are to busy watching, protecting and investing their money to deal with the idiotic things said on a utube channel.

  • Just as in implementing unconstitutional red flag gun laws, the king of Israel will do exactly as his puppet-masters command him to do, regardless of current laws in the USA. "SHALL NOT BE INFRINGED" means nothing to big D, nor does it have any eternal lawful authority to those who would seek to overthrow our government, nor would it greatly negatively affect the client/satellite States ability to subversively continue the charade of meaningful freedom, liberty and justice, in America, as was the vision of our founding fathers, who were also well aware, and educated as to the negative impact upon any country who borrowed money from the Khazarian mafia, which loans, if properly manipulated, would earn the lender a position of world power, and perhaps, provide the monetary and psychological foundation necessary to revive the ancient Roman Empire, or another empire, such as the NWO, whose power and authority mirrors the R E, with the same totalitarian governmental authority, where a few overlords will have complete authority over their millions/billions of slaves and subjects. God help the citizens of the USA, and all other people of the world, who have tasted the sweetness of freedom.

  • Republicans WAKE UP. The useful idiot clown you keep in in office is becomg a threat to national security. He needs to go. I am not a democrat.

  • Trump knows that the us corporations are making China rich and powerful, while Americans become slaves to consumerism.

    No wealth building at all. No jobs, No opportunity to compete fairly. WE ARE AN EMPIRE IN COLLAPSING MODE..

  • I don't know if I would say "I order you". I'v never heard that kinda direct directive. or that word come from Trump. he usually hints at it or says it in passing. This makes me think he knows something big or something pissed him off. and Trump dosen't get mad. this Mnuchin guy is avoiding the questions.

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