Scalise: China needs US economy more than US needs China

Channel: Fox Business
Published: 8 hours ago

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Rep. Steve Scalise, R-La. on U.S. tensions with Iran, U.S. trade negotiations with China, USMCA and reports President Trump is urging him to run for governor of Louisiana. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact b...



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Joining me right now is house minority with louisiana congressman steve scalise congressman. It'S always a pleasure to see you thanks so much for joining us morning, good to be with you, mario, but last time we moved all non-essential staff out of iraq was right before the iraq war. How serious is this situation with iran congressman? Well, it's serious they've been making very credible threats, m ...
ria and the president's preparing to make sure that america is properly defended. Hopefully it doesn't come to any kind of conflict, and iran recognizes that if they attack attack america there's going to be severe consequences to them. But it does show maria that these sanctions are working. What president trump isdone to force iran to confront this nuclear weapons program, that they're trying to develop and saying we're not going to have a nuclear-armed iran and the sanctions to go behind it. It shows how effective they are, but if iran thinks that they can attack us with some mild response, i think they're seeing right now it would be a very bad mistake. Let me ask you steve about the china trade tensions, because the two sides no closer to a deal this morning as a u. s. warship sales near disputed islands in the south, china sea. Look. It really seems congressman that these talks have collapsed.

How important is it for the two countries to come up witha deal? Well, i wouldn't say they collapsed. Obviously, we've run into a disagreement on how to properly enforce trade laws, and the reason is because china is not used to complying with trade laws with anybody. They cheat, they dump, they steal property, and now we've got an agreement that president trump and ambassador lighthouse are trying to get a negotiated agreement on that would be enforceable. I hope we get there. I think china's seeing that their economy needs america's economy more than we need theirs. Right now, and - and hopefully, we get both sides to agree because it would be better for all of us, but in the meantime, somebody's going to have to stand up tochina and i'm glad that president trump finally is and by the way our allies all around the World are glad that this confrontation is happening because they want to see china comply with the rules. Everybody else has to play by yeah, i mean there are rules of the road and the and the these are gon na have to convince the world, not just the united states that you know their technology is safe to use like huawei telecom, which, as we know, Is state-owned so how much pain do you think the us administration is willing to take in terms of the economic impact we're already seeing impact on markets this morning, because the number of the componentmakers have stopped selling and announced they will stop selling tough huawei, so you've Got companies like google and xilinx and broadcom all the component makers that sell in too far way trading down and taking the whole market with it. I know that the chinese economy is probably worse off. They had auto sales down 17 percent last quarter, but still the us gets impacted as well sure it has an impact on everybody. That'S why we'd like to see it resolved, but at the same time, if china is not willing to play by the rules that everybody else has to play by how many more years are we just going to sit by china's been doing thisfor a long long time And by the way, i'm glad to see our technology companies here in america stand up to wow way. I think we have the ability to counter the technology that they have for whatever reason over the last 10 20 years, we'll always been able to corner this market and, frankly, it's it's concerning to a lot of us. You see the department of defense taking action to move away from their products.

If we can't trust that the the information that we're sending over huawei's products is safe and secure, then i think there are other people out there, especially our american technology companies that lead the world that can step up and replacewhat they've been doing, and i think you're, Seeing that action start to happen, look what are the priorities for the for the house and certainly for the president in the next couple of months, is getting us mca signed into law. Do you think that nancy pelosi is gon na bring it down to the floor? For a vote congressman, i hope she does in there republicans and democrats in congress who want to see us mca brought to the floor. I think you see president trump an ambassador line, iser continuing to make good-faith negotiations with the democrats to try to address any issues that they have, but when you saw the president take action to drop the steeland aluminum tariffs, i think that was a very positive sign, But it shows you we have a to gain. Our economy has a lot to gain american workers, agriculture, community. You see a lot of other industries that have a lot to gain by getting this done, and so hopefully these delays don't don't go on any longer, because the delays are costing us jobs. There'S a lot that we can see from a u. s. mca deal getting done in canada and mexico want to want to get this done as well, and the trump administration is announcing that it is hosting an economic workshop next month with bahrain. The event aimed at showcasing economic gains that could bemade possibly by a peace agreement, countering your reaction on this. What should the american people understand about a partnership with bahrain? Well again, this is just one more example of president trump trying to get an agreement with countries all around the world to to improve our relationships and our trading ability to be able to negotiate better deals with other countries. I guess one of the bigger issues is: do we have an alliance of countries that are with us congressman in the fight against china? Because it's not just a u. s.

situation? I mean i recognize that the chinese have been stealing intellectual property from the united states and from the west for for decades, but thisis the whole world, and do we do you feel that the us has an alliance against china? That'S why the conversation of whether or not staying in tpp was a mistake that we pulled out that that issue keeps coming up now, with with the current situation with china. Well morean, there's gon na be opportunities to get better agreements with our asian friends. There were concerns with tpp, but when you look at all of our friends around the world, there is a widespread alliance of worldwide alliance that want to take on china. But everybody knows maria. The only person that can lead that fight is the united states. Our economy is so dominant right now, we've gotgreat economic news in america. We see it, we see the great economic numbers and you show up all the time and it's because of the tax cuts and the easing of regulations that were killing american jobs without having an event of any benefit on the economy, so having a stable environment. For our regulations and lower taxes has made america once again the dominant economy in the world, and it's allowed us. It'S given us great leverage to lead that fight against china, but make no mistake all of our allies when you talk to him individually, even collectively, have been wanting to take on china and get china to play by the rules that everybody else playsby. But they all know the only way it can happen. Is this um, as if america takes the lead and you're, seeing that now and you're, seeing china's economy react from it again, we would like to see this resolved, but it's got to be resolved in a way. That'S fair for america and it'll benefit all of our friends around the world, but it starts here at home.

I mean now that the president has painted a painted all of the issues so clearly to the american people. It feels like people want him to stay strong at this point, even even the other side, chuck schumer tweeting that as well look you and your colleagues did anexcellent job in terms of economic policy in the last two years. You, you know making sure to get the right tax package in front of the president to sign move the needle on economic growth. The president's deregulation program obviously also helped, but now congressman there is an axial report this morning. As you know, the president trump is urging you to run for the governorship of louisiana. Are you gon na? Do it no marie? I appreciated his question about that, but um it was more just a conversation. Ultimately, i think you want to see president trump wants to see our economy continue to grow. He wants to see us continue to build on the reforms. We'Ve madeyou see nancy pelosi in the democrat party. Moving so far to the socialist left that i think it's concerned a lot of people just how far the democrat party's moved. It'S not the party it used to be in president trump recognizes that so will you and your colleagues be able to get the majority back in the next two years? I feel very confident we will. I first think, most importantly, that president trump is in a great position to win.

Re-Election. He'S got a great story to tell, but you see the economy growing so much. You see people having higher wages, the real beneficiaries too, president trump's economy and to president trump's policies have been americanworkers. Jobs are coming back to america, and wages are higher, better opportunities and we've ever seen before and president trump's telling that story. And then you see on the socialist left they're moving so far that they want to do things like the renew deal. Weren'T cars - and you know airplanes would be extinct in ten years, this kind of lunacy and then they want to do things. They'Re gon na reinstate the carbon tax idea. They want to raise your taxes. They want to take away your wage growth. People don't want to see that. So president trump winning reelection gives us an even stronger chance to take back the house. All right congressman we'll be watchin gon na bean exciting two years coming for the steve scalise, always pleasure.

Thank you, sir thanks maria.


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