Trump Uses Tariffs To Benefit Americans

During an interview with Kudlow, Trump explained how he used tariffs to benefit Americans.Show more

Larry Kudlow: In a way the negotiations, you negotiated a tax cut people didn't think you were going to get, but you did. And you negotiated in China trade deal that people didn't think you'd get, but you did. I wanted to ask you, do you want to build on the China trade deal .point number one, and point number two, your use of tariffs as a negotiating tool ,which I think is something you taught me and a lot of other people.

Donald Trump: Well, tariffs give you tremendous power over countries when they're doing bad things, including war, okay including war.

I tell the story that, with France as an example, they were putting, you remember when that sort of a lousy period where they wanted to tax American companies very much, and we had Mnuchin go in and try and negotiate, and you were involved a little bit, but primarily Treasury went in and they went to Macron and they said, you can't do this, no, no, no. They were going to tax American companies a lot. And I said get it done. It's not hard. Get it done. And they didn't get it done and they came to see me and they say it's, you know, not going to happen. He's going to tax America companies. And I called him [Macron] up you, remember, and I said, Emmanuel you're going to tax American companies, I don't want you to tax American companies. We don't do that to you and you're not going to do to us.

Oh, it is too late, I'm sorry.

I said, okay it's too late, you get it changed in 15 minutes or I'm putting a 100% tariff on all of the wine and all of the champagne that comes into the United States. We have stuff that's just as good or better, and we're going to charge you 100% tariff on every single bottle of wine and champagne that comes in from France into the United States.

No, no, no, you cannot do that.

I said I can do that. I'm ready to sign it and it'll take place on Monday morning and that'll be it.

He calls back in 15 minutes, okay we won't. Do you remember that?

Kudlow: I do.

Donald Trump: I use that to do it. Now that's using the power of tariffs. And we can do it better than any one because we're the big buyer. But eventually we won't be the big buyer because our country is going to hell, and we're not going to be the big power. We have power but it's waning.

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