Tariffs are Trump’s weapon of choice: Varney

Channel: Fox Business
Published: 05/31/2019

Description
FBN’s Stuart Varney on President Trump’s use of tariffs as a negotiating strategy. 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 w...



Transcript
All right, you slap a tariff. You slap on a tariff to change your trading partners, behavior, that's what the president is trying to do with mexico. Stop the flow of migrants to our southern border, or there will be gradually rising tariffs on everything you send to us, and that starts in june. The 10th on a much larger scale, pretty much the same story with china, stop messing with our technology ...
or the tariffs. Already in place will be expanded now, tariffs are the president's weapon of choice. Simply put his objective is to inflict more pain on them than on us ha ha. Let there be no doubt. The pain for both sides is getting worse, newsovernight that china's economy has slowed a lot. Our stock market, as you can see, is selling off falling sharply mexico's market and its currency also falling. American farmers are hurting, oh there's pain all over and that has produced a very strong pushback republican. Senator grassley says it's a misuse of presidential tariff authority. He'S a republican retailers warned of rising prices.

Manufacturers warned about their supply chains and democrats are eager to pounce on anything. The president does now look at it from mr. trump's point of view. What else can he do? There is a crisis on the border. There really is. The democrats will not help and mexico has failed to stop the migrant flow 2000walked across in el paso alone. Just on memorial day and a huge group of 1000 just came across the president takes action. He calculates that the pain is worth the gain with china. The fight is ratcheting up and the president calculates that their pain is greater than ours and therefore worth it. Whoa it's hard line, trump high stakes, enormous risk. It ends when the painful one side or the other is no longer worth it.



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