China is taking our jobs: Sen. Cassidy

Channel: Fox Business
Published: 05/15/2019

Description
Sen. Bill Cassidy (R-La.) on the U.S.-China trade negotiations. 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 launche...



Transcript
Let'S go to louisiana republican senator bill cassidy. He was with the president louisiana yesterday for the president's big speech and you supported senator on this trade approach with china. A lot of folks are getting nervous or what's gon na, have it on june 1, when a lot of these terrorists on both sides of the planet kick in. Are you work, of course you'd rather not happen, but i am more worr ...
ed what will happen if we do not strike a deal with china, because china has shown they are willing to break every rule in order to denude our economy of jobs, of intellectual property, of Prosperity and transfer to china, so our economy is, as strong asit's been in decades. There'S a showing softness now's the time to be firm. Do you think the president was looking at the markets and responding to the markets as the light eyes are thriving by the way and the capital to meet with speaker nancy pelosi by the way? But do you think that he was concerned? That is the president with the market drop off, and this was his way, that is the auto tariffs thing, delaying it for the europeans of the japanese auto parts. By extension, i guess with china because of that i think the president is trying to avoid an osha from setting into the system and as long as there's a little bitof, an uncertainty, a reward, a firmness, a reward, a firmness, then nobody settles into a pattern where You can't budge them from now. Ideally, you don't have to go to tariffs, but with china it appears as if you do. I think the president's just trying to negotiate the best deal he can get for the american people. So he is not a pne himself, as you know, senator by then including the remaining three hundred twenty twenty five billion dollars where the goods will get from china - and you know zooming the tariffs on those as well. The 25 percent - you think they eased is holding that in his back pocket, depending on what china does or proposesin the next week or two absolutely the president. I was flying with him to do to louisiana.

Yesterday. He said more than once we had a deal 95 % there, and then we go to china to beijing. Just to finish up and all sudden five things we agreed on have been crossed off little things like intellectual property protection and everybody laughs, and so until we know we have firm commitment from the chinese. The president needs something in his back pocket and he needs to convey a willingness to use it. I think he would, i think he would use it. You know what's interesting to me, senator you're so close to this. You know these issues insideand out, but most americans do not know that when terrorists are implemented, they pay them that not governments, and do you owe your constituents a possible bracing moment where you tell them? Look we don't think. Let'S progress here come june 1. A lot of the goods you get at your walmart or your target are gon na go up a lot, maybe not the full 25 %. Maybe some of those entities will absorb some of it, but it certainly can't be all for that. There is a complexity there. The chinese currency is weakening that will actually tend to lower the prices somewhat, but that's it.

There has to be a discussion with the american people, but was thatwhat was not held over the last eight years or eight years before. The trump administration is that china is taking our jobs, they are arbitrage, new regulation, sure we appeal to the world trade organization, but it takes so long to resolve in the meantime, they've taken our jobs. Well, the president says it's happened under democrat and republican presidents alike. Is that i will accept that. But the point is the conversation has to be held, that if we do not do something now, we can expect that to happen, and a regime in china which is hostile to our values, will eclipse ours. That'S the discussion that also has to be had when americans hear that ithink they're, i think they're ready for they're ready for confrontation. Now, all right, we still see senator. Thank you for doing the time.


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