Scaramucci: US, China deal should come by end of summer

Channel: Fox Business
Published: 05/22/2019

Description
Former White House Communications Director Anthony Scaramucci discusses the escalating trade war between the United States and China. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headqu...



Transcript
Kennedy president trump has been downplaying the trade war with china. Some economist fear that high stake standoff could trigger a global cold war. that could have an adverse affect on dozens of nations that do business with two economic power houses. But china ambassador to u. s. , told fox news: there is still hope. China remains ready to continue our talks with american colleagues. to reach a ...
conclusion. Our door is still open. kennedy.

That is lovely. I don't believe a word. He says it is him for nations to give peace a chance. Man yeah. with me now skybridge capital founder, anthony scaramucci. , welcome, back. , great to be back. kennedy so nice to have you. >, >, youdon't trust, them. kennedy. No, they say one thing in state run, newspaper and another in a convenient marketplace like fax marketplace, like fox news.

, . They have to get a deal. I hope rational players and minds come together. Both parties would benefit from a deal. It would be good to reset the imbalances. If you will. I would be surprised if there is no deal done by the end of summer. kennedy. They were so close. Why did they pullback when it so far negotiated? Does it show how important ip stuff is to them. ? No, i think it is more cult cultural, be with china. They are cultural, be with china.

They ar- business with kindthey are chia business with kind. They are chi business with kind. They are chit business with kind. They are chie business with kind. They are chiy are traders by nature. They went to the 2 inch line, then pullback and you have to applaud president for holding tough, saying we're going a government direct. kennedy. A lot of farmers will ablah aplah applh applaud the president with two birds. He that is happening. He will get relief. the market signaling this there is a deal here, hopefully by the end was summer.

If there is no deal by end of summer. kennedy, xi, jinping talk about long march. , people's trade war trying to rally universe. We knowthey starved 60 million people in china, 50 years ago. They don't have election. They could turn on a dime if they want to, but i don't think so. , i think their long-term --. They are long-term, rationalists. , , he says -- , president, is a long-term rationalist. kennedy. Chinese ambassador is saying our door is still open, but at the same time they say that buzz that tuzz that thaz, that that u.

s. is bullying us, which is it. >, > both. kennedy. Are they being bullied. president is pushing them hard to buy more goods. close the tread close, the traad close the trade deficit. He wants more raw material bought. More things made here in united statesthat would have that reduction effect. You have to applaud the president and remember that he is trying to correct 40 years of trade imbalances. If you want to go to 70s, we were propping up china and supporting them.

We wanted their-against soviet union that took on a life of its own. now today. Second largest economy in world. president is trying to get them into the world today where they deserve to be. That is a fully developed nation second largest economy in world. kennedy. Fine, they can have a big economy. had they are great and open trade between nations and individuals and between companies is fantastic. What is not good is their ip stuff. When we -- ip theft, we focus on trade deficit and take our eye off that ip theft ball displ. >, >, ball.

, >, >, also tariffs and balances. How do you convince american companies to go the give in. ? It is harder, . It is hard for smaller businesses. There are certain win, -- windshields only made in china. He is paying freight. If president ratchet its up that would cripple his business. consumer is paying the tariff law.

Kudlow did admit that that not great for united states chinese have a tendency to retrade at the last minute that part of their culture. kennedy. I agree with morgan stanley, global economist said there could be a global recession if thisis pro tracked. I don't think that will happen. , i am 30-years in market. I was 11 days in white house. Anything you think can happen in market. Can we're returning 12 billion. kennedy? Will my candice kennedy will my cannace kennedy? Will my cannabis stocks come back. , likely? Maybe not samely level, they level ohey level, oncy level once were, they may come back. here is the thing.

kennedy as long as they have a great run. , . I think that president is by and large something bluster on twitter, but he always acts rationally on a situation like this.


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