Eric Trump: Companies are fleeing China


FIRST HOUR WITH US THIS MORNING. THANK YOU VERY MUCH INDEED. LET’S TALK CHINA TRADE AND THE PRESIDENT’S MOVE TO DELAY TARIFFS WHICH WAS ANNOUNCED YESTERDAY, JUST AS THE MARKET WAS GETTING ROLLING. JOINING US IS ERIC TRUMP, THE PRESIDENT’S SON. ERIC, GOOD TO SEE YOU. DO YOU THINK — LET’S SEE WHAT YOUR ANSWER IS — DID THE PRESIDENT BACK DOWN BY DELAYING THE TARIFFS?>>I THINK ACTUALLY A LOT OF PEOPLE ARE MISSING ONE THING WITH CHINA. I DO IT EVERY DAY. IN THE BUSINESS WORLD, I DON’T DO POLITICS BY DAY AT ALL, PEOPLE ARE MISSING THE FACT WITH CHINA THAT NOW THAT CHINA IS IN THE CROSSHAIRS OF AMERICA, REGARDLESS OF WHAT HE DOES WITH TARIFFS, YOU HAVE COMPANIES THAT ARE FLEEING CHINA. THEY NO LONGER WANT TO BE PART OF THIS. I HEAR THIS EVERY SINGLE DAY FROM PEOPLE WALKING DOWN THE STREET IN VARIOUS COMMERCIAL BUILDINGS. WE ARE GETTING THE HELL OUT OF CHINA. WELL, WHY? BECAUSE THEY HAVE BECOME TOO BIG AND YOU ARE ALWAYS GOING TO HAVE TENSION BETWEEN THE TWO COUNTRIES. IF YOU ARE GOING TO HAVE TENSION BETWEEN TWO SUPERPOWERS, WHY WOULDN’T I GO TO VIETNAM, MANUFACTURE THERE, WHY WOULDN’T I GO TO ANYWHERE ELSE, PAKISTAN. THERE’S A HUNDRED DIFFERENT COUNTRIES THEY COULD GO TO, SO WHAT’S HAPPENING IS YOU ARE ACTUALLY HAVING INDUSTRY FLEE CHINA SO THE TARIFFS ARE WORKING ON TWO FRONTS. A, WE ARE BRINGING A LOT OF MONEY INTO THE TREASURY, RIGHT. B, IT’S STOPPING THEIR USE OF PRACTICES ALLOWING US TO NEGOTIATE BUT REALLY THREE, IT’S ALSO SIGNALING TO THE BUSINESS COMMUNITY, GET OUT OF CHINA BECAUSE THIS IS GOING TO BE ROCKY ROAD FOR A LONG TIME AND YOU MAY AS WELL GO TO A PLACE THAT’S MORE TRANQUIL, MORE PEACEFUL, NOT IN THE CROSSHAIRS OF AMERICA, THAT’S PRO-AMERICA, NOT ABUSING AMERICA, NOT STEALING INTELLECTUAL PROPERTY FROM AMERICA. THINK ABOUT — STUART: WAIT A SECOND. SURELY HE WAS NOT I’M GOING TO SAY THROWING A BONE, BUT HE WAS HELPING AMERICAN CONSUMERS BY DELAYING THESE TARIFFS ON PRECISELY THE KIND OF PRODUCTS THAT WE WILL BE BUYING IN THE HOLIDAYS.>>I THINK THAT’S RIGHT. I THINK YOU ARE SAYING WHAT I’M SAYING. THE EXODUS OUT OF CHINA IS NOT ONE OF THESE THINGS THAT TAKES THREE DAYS. TO ACTUALLY MOVE MANUFACTURING OUT OF CHINA, YOU GOT TO FIND A NEW PLANT, YOU’VE GOT TO TRANSFER WORK FORCES, GOT TO DO A LOT OF THINGS. THAT PROCESS IS HAPPENING. NO ONE’S PAYING ATTENTION TO IT IN THIS COUNTRY. NO ONE EVEN TALKS ABOUT IT IN THIS COUNTRY. EVERY SINGLE PERSON I TALK TO, WHETHER THEY MANUFACTURE SHOES OR T-SHIRTS OR WIDGETS, THEY ALL HAVE PLANS TO LEAVE CHINA. WHEN I SAY PLANS, LIKE THEY ARE ALL OVERSEAS RIGHT NOW IN DIFFERENT COUNTRIES FIGURING OUT WHO CAN SOURCE THE PRODUCT, WHO CAN MAKE THE PRODUCT ELSEWHERE. THAT WILL LEAVE A MAJOR MAJOR HOLE IN THE CHINESE ECONOMY. IT WILL RESHUFFLE THEIR ECONOMY. THEY ARE NO LONGER GOING TO BE ABLE TO DEPEND ON THAT.

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