Trump has done a ‘dramatic turnaround’ to the economy: Marc Short
Trump has done a ‘dramatic turnaround’ to the economy: Marc Short Trump has done a ‘dramatic turnaround’ to the economy: Marc ShortU.S. China trade on certain day, the Chinese foreign Ministry, saying it’s not aware of any weekend phone calls between China and US trade representative. President Trump has said there were two calls over the weekend at the G7 Summit. The latest round of us tariffs on 300 billion dollars worth of Chinese Goods set to go into effect on Sunday, some of those goods. The tariffs are delayed until December 15th. Mark Shore Mark, can you give us a reality check on this back and forth over these phone calls? I’M optimistic that eventually we will get a deal, but I think the presents been very clear about his position here. For many years, we’ve had administrations have basically provided China with the favorable perm violate those, and you continue to steal intellectual property. Continue to force. Transfer of ownership continue to manipulate their currency in this present. So we’re not going to do that anymore to protect the American worker, because many jobs have been lost time to do other countries until he’s going to stand up to China, unlike previous administration, in order to stand up to China and fight the theft of our intellectual Property to for surrender of Technology the Espionage threat around the globe, look at it from 35000 feet. This is something that’s likely not going to get resolved by the election next year. Is that safe to say how would you react to that? I wouldn’t I wouldn’t. Can you just need statistics of manufacturing leaving China and, in many cases, going other parts of Asia? Many cases returning here at the United States, where this presents help to make the regulatory burden a lot lighter tax reform is helped to encourage companies back home until we think the China is hurting, their economy is growing the slowest Pace in over 30 years, and so We feel that fit that there’s a lot of pressure on China for them to to reach a deal and to attack. She holds the commitment to that deal, which is we haven’t seen in the past. So no, I wouldn’t say that the deals not possibly for the election 2020. I think that the the pressure that this Administration in this present, if applied to China, have put them in a position where it, where they’re more anxious to make a deal. Farmers in this country, in the pressure from the retaliation for tickly from China, and we can get into the new trade deal with Japan, but farmers are upset and China clearly targeting these areas, the country and these voters who came out President Trump in 2016. Is it possible we see Moray for the farmers, I think by my calculation there to financial aid packages so far to the farming community of totaling 28 billion dollars? Is that something additional funds for those pharmacist that something that’s possible? We can do most help. Them is actually get Congress to pass the usmca deal because, in many cases, their markets that are close to Dairy Farmers of this presents out open with Canada and significant trade with Mexico as well, and so the best thing that we can continue open up access to New Markets is this present also do with Japan and he’s been in the effort of trying to do in the EU. When many cases are markets are products have been closed and he’s trying to lower those barriers to entry. So we have more free trade that the push for a vote on USMC a vice president, Mike Pence looking to swing Democrats to press Nancy Pelosi to bring the trade agreement to a vote at the Wall. Street Journal also has an article about Democrats, like all in all red and taxes who really trying to push this talking to businesses about the need for a vote on it. Can you give us any details on what’s Happening behind the scenes? Have I think, very encouraging to go see a shins with speaker Pelosi and many of the Congressional Democrats, and so we remain optimistic that we will get a vote. This fall the vice-president, you noted as spend much of the summer traveling across the country. In many cases to Democrat District to talk about, we are country in labor union support for New Deal in much the Midwest after the Vice pres been traveling. To make the case to those constituent, so Democrat members will go to speaker floating say: we need to have a boat on this again. We remain optimistic, will do but instant back for second and say if essentially Democrats deny vote what they’re telling their constituents is. We prefer NAFTA. We prefer the deal that we’ve seen thousands of job flee flee our country to South of the Border. That is our preferences to leave the status quo with Masa. That’S essentially what they’re saying if they deny vote so again, we think they will get about. This fall. We’Re top of that. If we get about it’ll pass and we think the president negotiate a better deal with the with Mexico and Canada and it’s time to get it done, because I think you’ve said it will benefit. Many committees are country, both Agriculture and auto manufacturing by the union or the Department of Homeland Security plans to divert 271 million dollars worth of funding mostly used for her and then allocated to detaining and removing illegal immigrants. Your reaction to this cuz people on the other side of the aisle are losing their minds. That’S Democrat, ministrations do constantly is to reprogram dollars and when you do that, you submit the reprogramming up the Congress, and so this is. This is pretty much standard as other administrations as well. This present said we have a national security crisis on our border crabs. For many many months had denied. There was any sort of Crisis now they at least except there’s a crisis, and this present take every action. He can, if he pulled the American people to make sure our Southern border, secure and and part of that process is reprogramming dollars. When you I want to move on to this, let’s talk about former New York Federal Reserve President Bill Dudley Road, an op-ed for Bloomberg. Title the FED should enable Donald Trump here’s some of what he wrote. Trump’S re-election, arguing play, presents a threat to the US and global economy to the fed’s independence and its ability to achieve its employment and inflation objectives is a goal of monetary policy is to achieve the best long-term economic outcome. Then officials should consider how their decisions will affect the political outcome. In 2020, the Federal Reserve had to take the unique step to fire back in a statement saying this to the Wall Street Journal, the Federal Reserve policy decisions are guided solely by its National man day to maintain price stability and maximum employment. Political considerations play absolutely no role your thoughts on this 2 years. The average household income has increased over $ 5,000, the last two years of Donald Trump. As president, you seen unemployment now at historic lows, 50-year lows of of 3.7 % is under 4 %. The longest time, 50 years, lowest unemployment for Hispanic Americans ever lowest, unemployment for African-Americans threat to the economy, Independence, the reality is what we’ve seen is it in his a huge diversion between other countries, monetary policy, renascence they’re, providing negative yield to this point, and this present Has said the FED should be focused. There’S no measure inflation year quote that I think sites and concern for for some of us in about a dual in dual mandate. That says warm. It is looking for employment, inflation. All they would say. President Trump has it in some instances, rifle attacked of the fed’s policy particular last year when they, I think in hindsight, clearly made a policy mistake, but about j-pal vs. hugin pay on Twitter that somehow the president has opened the door to these kind of political. The politicization of the of the Central Bank and these kind of attacks from somebody Bill Dudley work in the fat anymore. How would you what do you say to that? I think other presidents have comment on monetary policy many times in American history. This present feels very strongly that the monetary policy were currently pursuing is hurting America I’ll leave it at that Mark Shore. Thank you so much good to see you Marc Short, chief of staff to Vice President Pence, discusses U.S. trade tensions with China, the future of USMCA, DHS plans to divert hurricane relief funding for border detention and Federal Reserve policy.
FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is the leading business network on television, topping CNBC in Business Day viewers for the second consecutive year. The network is available in more than 80 million homes in all markets across the United States. Owned by FOX, FBN has bureaus in Chicago, Los Angeles, Washington, D.C. and London.
Subscribe to Fox Business! https://bit.ly/2D9Cdse
Watch more Fox Business Video: https://video.foxbusiness.com
Watch Fox Business Network Live: http://www.foxnewsgo.com/
Watch full episodes of FBN Primetime shows
Lou Dobbs Tonight: https://video.foxbusiness.com/playlist/longform-lou-dobbs-tonight
Trish Regan Primetime: https://video.foxbusiness.com/playlist/longform-trish-regan-primetime
Follow Fox Business on Facebook: https://www.facebook.com/FoxBusiness
Follow Fox Business on Twitter: https://twitter.com/foxbusiness
Follow Fox Business on Instagram: https://www.instagram.com/foxbusiness