Original Broadcaster Captioning (Enhanced). Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:08I HAVE BEEN IN CONTACT WITH THEM.
00:00:12OF COURSE EMOTIONS ARE HIGH.
00:00:38HE IS CONSIDERING THAT.
00:00:45WE WILL ALWAYS QUOTE LAKE ONTARIO. [APPLAUSE]
00:00:52WE ARE PROUD OF OUR GREAT LAKES.
00:01:12WHILE ALL THE SHENANIGANS ARE HAPPENING, WE WILL BE SMART.
00:01:18WE WILL FIGHT BACK.
00:02:37ASAS
00:02:37OCEAEARNEDIC YR
00:02:43C-SPANIE MHT APPCIATE
00:02:45IS KD OF NUAE DLL, WHEN WE NOTIATENAFTWHHEHE
00:02:49FTCANADIAN, EY --HEY JUSTAN
00:02:53CIRCNDND U
00:02:54PLAYWEWEALLYTR PROSIONS TH
00:03:01REALARMED A AND
00:03:01THINFROM THA PNTHE
00:03:05ALWAYSELIEVETHAT TY ARE BETTER NEGOTTORS.
00:03:08THIS STEELLEW UP F FORNLY ONE
00:03:17ACROUR BOER. GAVE EM A DEAWHIC
00:03:21WHICI BNEST MADITAS -
00:03:25IT WDD DEA IT WAAS
00:03:27OD AEAL AS CANAETET.
00:03:32WE N V VERY GOOD
00:03:38SHOULD HE TURN IT DO BUT
00:03:41EYEY' HHO CANTOTOOROR
00:03:49A ADDITIO PITICAL C CAN RE P IL
00:03:56TRASHI DONALRUMP,
00:03:59ONOMY ES DOWNRE POIS.
00:04:01A'S TH--HAT IS T
00:04:03- - GERMANPHPHT
00:04:08EGGING HOUG FO,
00:04:13AND BOF THEMON'T UNRSTANDHEA A GLS
00:04:17GG THANB' TTHEED US
00:04:20MORE TN T
00:04:23WE GAVEHEHEM AWE D DEATHAT WE
00:04:28HO: SPEAKO THATEA
00:04:32WOULDRE ASKINTHAT CADA
00:04:38HOST: SPEAK TO THAT DEAL. WHAT WERE WE ASKING THAT CANADA WOULD NOT AGREE TO A HEAD OF NEGOTIATIONS BREAKING DOWN LAST
00:04:42FRIDAY?
00:04:43GUEST: SO -- THE WHOLE ISSUE
00:04:47AROSE FROM, SECTION 338 ACTION
00:04:51AGAINST CANADA.
00:04:58IT GIVES THE U.S. TRADE REPRESENTATIVE POWER TO IMPOSE TARIFFS WHERE ANOTHER COUNTRY
00:05:01DISCRIMINATES AGAINST THE UNITED
00:05:04STATES WITH RESPECT TO HOW IT TREATS US.
00:05:07IN OTHER WORDS IF CANADA IS DOING SOMETHING TO EVERYBODY IN
00:05:10THE REST OF THE WORLD 338
00:05:12DOESN'T APPLY BUT IF IT IS JUST
00:05:14SIGNALING US OUT.
00:05:16IN THE CASE OF THE 338 YOU HAVE
00:05:21A MAJOR DAIRY PROBLEM IN CANADA,
00:05:23THEY HAVE TRIPLE DIGIT TARIFFS
00:05:27ON DAIRY FOLKS AND TRY AS WE MIGHT DATING BACK TO THE FIRST
00:05:30TRUMP TERM, THEY JUST ARE
00:05:31UNREPENTANT.
00:05:43THEY JUST STICK IT TO US. SO THAT IS NUMBER ONE. NUMBER TWO, THEY CUT OFF
00:05:46ALCOHOLIC BEVERAGES FOR SALE IN THEIR STORES WHICH IS -- WHICH IS UNBELIEVABLE, YOU CAN GO INTO A STORE IN THE PROVINCES AND BY
00:05:50KENTUCKY BOURBON.
00:05:57AND WHAT'S SO INTERESTING ABOUT
00:06:00THAT AND WHAT THEY DO ON AUTOS IS AS THEY ARE SCREWING US, THEY
00:06:03ARE GETTING INTO BED WITH
00:06:05EUROPEANS AND JAPANESE AND
00:06:10KOREANS AND PARTICULARLY THE CHINESE AND GIVING THEM MORE FAVORABLE.
00:06:13SO THIS WAS -- THIS IS UNTENABLE
00:06:16FOR PRESIDENT TRUMP.
00:06:19WE ARE THE PARTY AND PEOPLE PROTECTING AMERICAN JOBS FROM
00:06:23BLUE-COLLAR FACTORY WORKERS AND OUR FARMERS AND RANCHERS.
00:06:27AND SO THAT'S HOW THIS GOT STARTED. SO NEGOTIATIONS ENSUED, IT WAS A
00:06:30PRETTY BIG OMNIBUS DEAL THAT WAS
00:06:33GOING TO GIVE A REALLY FAVORABLE
00:06:37TERMS IN TERMS OF ALUMINUM AND
00:06:39STEEL WHICH WE HAVE ANOTHER
00:06:42SECTION 232 ON AND THAT -- THAT
00:06:46IS OUR BREAD-AND-BUTTER HERE AND -- I JUST WANT FOR THE FOLKS
00:06:50LISTENING HERE AT C-SPAN2
00:06:52UNDERSTAND THIS IS NOT A PARTISAN ISSUE, THIS IS NOT A
00:06:56REPUBLICAN OR DEMOCRAT ISSUE. THIS IS SIMPLY -- AN ISSUE OF
00:07:00DETECTING OUR WORKERS AND RANCHERS AND OUR FARMERS.
00:07:03AND CANADA -- HAS REALLY BEEN
00:07:08EXPLOITING US, EXCLUDING THE USMCA AND NOT NEGOTIATING IN
00:07:12GOOD FAITH AND CARNEY -- THE
00:07:14WORST THING THAT EVER HAPPENED TO CANADA WAS CARNEY MADE A
00:07:18COME-FROM-BEHIND VICTORY, HE WAS
00:07:21DOWN I DO KNOW 30 POINTS AND
00:07:23STARTED TRUMP DERANGEMENT
00:07:25SYNDROME SURGED TO WIN AND
00:07:30SOMEHOW EVERY TIME CARNEY DUMPS ON TRUMP, THE CANADIAN PEOPLE
00:07:33REWARD HIM WITH POLITICAL SUPPORT.
00:07:35I'VE SAID THIS REPEATEDLY.
00:07:37SPEAKING RIGHT TO THE CANADIAN
00:07:39PEOPLE.
00:07:49YOU CAN'T ENCOURAGE CARNEY AND ESPECIALLY DOUG FORD TO DUMP ON THE UNITED STATES.
00:07:52WE ARE TRYING OUR BEST TO HAVE A FAIR DEAL WITH YOU ALL AND YOU
00:07:54ARE JUST PLAYING POLITICS WITH
00:07:59-- SOMEBODY AND A COUNTRY WHICH
00:08:02IS FAR STRONGER ECONOMICALLY
00:08:05THEN YOU ARE AND IT'S JUST IT'S
00:08:09NOT GOING TO END WELL FOR CANADA.
00:08:12I PREDICT THAT THE DEAL YOU GOT
00:08:22THAT YOU TURNED YOUR NOSE UP YOU ARE NEVER GOING TO GET THAT DEAL AGAIN. WHATEVER YOU GET IS GOING TO BE
00:08:26LESS THAN THAT AND THAT'S ALL CARNEY AND ESPECIALLY ON FORD BECAUSE IF YOU LOOK AT LIKE THE BACK CHANNEL AND IT WAS GOING ON
00:08:29THERE, APPARENTLY LIKE FORD WAS
00:08:32LIKE -- LIKE THE DEVIL IN
00:08:34CARNEY'S EAR SAYING DON'T DO
00:08:36THIS AND CARNEY FOR WHATEVER
00:08:44REASON BACKED DOWN TO FORD. HOST: IN TERMS OF WHAT WE WERE
00:08:47ASKING IF CANADA WERE WE ASKING
00:08:50FOR A VETO OF THEIR TRADE DEALS
00:08:52WITH OTHER COUNTRIES NOT THE
00:08:56UNITED STATES? GUEST: THE PROBLEM JOHN HERE IS A VERY SIGNIFICANT 1 -- UM, THIS
00:08:58WHOLE THREE 38 CAME ABOUT IN
00:09:05PART BECAUSE -- CANADA HAS GIVEN
00:09:06PREFERENTIAL ACCESS THROUGH
00:09:09THEIR TRADE DEALS TO AMONG
00:09:13OTHERS EUROPE, JAPAN AND KOREA
00:09:18IN WAYS WHICH MATERIALLY HARM
00:09:20OUR OWN MARKETS -- AND ON TOP OF
00:09:26THAT, AND WORST OF ALL, CANADA
00:09:31SEEMS TO HAVE THROWN IT'S IT'S
00:09:32-- IT'S FATE IN WITH COMMUNIST
00:09:35CHINA AND IT IS CUTTING DEALS
00:09:38WITH COMMUNIST CHINA IN WAYS
00:09:41WHICH ARE GOING TO MAKE CANADA
00:09:44EFFECTIVELY A LAUNCHPAD FOR A
00:09:55WHOLE RANGE OF COMMUNIST CHINESE
00:09:56PRODUCTS MADE WITH SLAVE LABOR
00:10:03AND SUBSIDIZED BY THE GOVERNMENT
00:10:05AND AND IN PILES NOW, A BIG
00:10:10PILES BECAUSE THEY HAVE SO MUCH
00:10:13OVERCAPACITY AND THEY ARE GOING TO DUMP IT IN THE U.S. AND USE
00:10:16CANADA AS THEIR PLATFORM.
00:10:17THEY ARE ALREADY DOING THAT
00:10:22CANADA AND MEXICO CHINESE. IT IS PART OF THE REPORT I PUT OUT I TALKED ABOUT IT ON C-SPAN
00:10:25LAST MONTH, THE SHIPMENT SCAM.
00:10:29BUT THAT WAS A BIG PART OF IT. WE DON'T WANT CANADA CUTTING
00:10:33TRADE DEALS WHICH UNDERCUT OUR
00:10:37TRADE WITH CANADA AND OUR NATIONAL SECURITY MANUFACTURING BASE. SO A LOT OF MOVING PARTS HERE
00:10:41BUT I WANT PEOPLE TO UNDERSTAND THEY BLEW THIS DEAL UP, WE DID
00:10:44NOT AND THEY HAVE THE LAST MINUTE THEY PUT ON -- CONDITIONS WHICH SIMPLY DO NOT WORK FOR THE
00:10:48AMERICAN PEOPLE AND YOU KNOW I DON'T -- IT'S UNFORTUNATE. BUT IT'S POLITICS.
00:10:51HOST: COMING BACK TO THE USMCA
00:10:53WHICH YOU HELPED NEGOTIATE AND
00:10:55AT THE TIME WHEN IT WAS IMPLEMENTED IN 2020 PRESIDENT
00:10:58TRUMP CALLED THE FAIREST MOST BALANCED BENEFICIAL TRADE
00:11:01AGREEMENT IN HISTORY. WAS HE WRONG ABOUT THAT AT THE
00:11:05TIME?
00:11:13GUEST: WHAT HAPPENED UH IS IN
00:11:16THE FOUR YEARS OF BIDEN ADMINISTRATION -- WE DIDN'T HAVE APPROPRIATE OVERSIGHT OF THE
00:11:20AGREEMENT ITSELF AND -- THIS IS WHERE WE GET TO THIS GREAT TRANS
00:11:23SHIPMENT SCAM.
00:11:24THE IDEA OF TRANSSHIPMENT IS
00:11:27THAT IF WE'VE GOT, TARIFFS ON
00:11:30CHINA OR EUROPE OR WHOEVER IT IS
00:11:31-- AND THEY CAN KIND OF SNEAK IT
00:11:38INTO MEXICO AND GET THE USMCA
00:11:43RATE ON A CHINA PRODUCT, THAT
00:11:45DESTROYS USMCA AND IT'S GOOD FOR
00:11:49CHINA, IT IS GOOD FOR WHOEVER IS
00:11:52BRINGING THE CHINESE STUFF INTO MEXICO OR CANADA BUT IT IS NOT
00:11:56GOOD FOR THE U.S. SO MY POINT JOHN IS SIMPLE ANSWER TO YOUR
00:11:59QUESTION, THE USMCA WAS A DEAL
00:12:02THAT WAS WELL NEGOTIATED BY BOB
00:12:04LEITE HEISER, MYSELF, DONALD
00:12:07TRUMP AND OTHERS, BUT WHEN BIDEN
00:12:13TOOK OVER, WE -- OUR GOVERNMENT
00:12:16DID NOT PAY ATTENTION.
00:12:18AND SO OUR PARTICULARLY WITH
00:12:23MEXICO, OUR TRADE DEFICIT IS OFF
00:12:26THE CHARTS. IT IS JUST AT RECORD LEVELS AND
00:12:29A LOT OF IT IS -- IS
00:12:32TRANSSHIPMENT WHERE THE CHINESE
00:12:36GERMAN JAPANESE, KOREAN,
00:12:39VIETNAMESE PRODUCTS COME IN AND
00:12:41GET THAT ZERO RATE.
00:12:44AND THAT -- THAT TAKES JOBS FROM
00:12:45US.
00:12:49WE NEED A STRONG,
00:12:53INDUSTRIAL BASE, STRONG
00:12:57MANUFACTURING BASE.
00:13:00WAGES GO UP FOR OUR OUR WORKERS, TAKING SHOWERS WHEN THEY GET
00:13:04HOME AND WAKE UP IN THE MORNING.
00:13:06AND -- THAT'S WHAT HAPPENED.
00:13:08THE USMCA [LAUGHTER]
00:13:18THERE'S GOING TO BE SUBSTANTIAL, SUBSTANTIAL CHANGES TO THE USMCA OR THE USMCA IS NOT GOING TO BE
00:13:21AROUND. HOST: PETER NAVARRO WITH US FOR THE NEXT 15 TO 20 MINUTES TAKING
00:13:25YOUR PHONE CALLS ON WASHINGTON JOURNAL.
00:13:29PHONE LINES ARE REPUBLICANS, 202-748-8001.
00:13:31DEMOCRATS 202-748-8000.
00:13:34INDEPENDENTS 202-748-8002.
00:13:36MR. NAVARRO WE WILL BEGIN IN
00:13:39LYNCHBURG VIRGINIA, DAVE, INDEPENDENT. YOU ARE ON WITH PETER NAVARRO GO
00:13:43AHEAD. CALLER: YOU ASKED A QUESTION
00:13:45THAT I WAS GOING TO ASK ABOUT
00:13:47THE TRADE DEAL THAT WAS SIGNED IN THE FIRST TRUMP
00:13:50ADMINISTRATION WHICH I'M NOT SURE REALLY UNDERSTAND THE
00:13:54ANSWER.
00:13:55BUT I THINK THAT'S A LOT OF WHAT
00:13:59THE TRUMP ADMINISTRATION IS
00:14:02ABOUT, TALKING IN CIRCLES AND
00:14:04NOT REALLY EXPLAINING CLEARLY.
00:14:12ANOTHER QUESTION IS DIDN'T U.S. CORPORATIONS DRIVE MOST OF THE BUSINESS THAT WE WANT TO COME
00:14:15BACK TO THE U.S. TO FOREIGN COUNTRIES BECAUSE THE LABOR IS
00:14:17CHEAPER?
00:14:22CANADA DEALING WITH COMMUNIST CHINA, WHAT ABOUT WALMART IT'S
00:14:25FULL OF COMMUNIST CHINA
00:14:26PRODUCTS.
00:14:31GUEST: DO ME A FAVOR.
00:14:33DEATH BY CHINA WATCH MY FREE
00:14:37FILM ON YOUTUBE AND UM IT'S MUCH
00:14:42OF WHAT WALMART DOES TO THIS
00:14:43COUNTRY.
00:14:46BUT LET ME BE PRECISE IF I WAS
00:14:48NOT WITH THE EARLIER ANSWER.
00:14:53THE CENTERPIECE OF THE USMCA IS A CONCEPT CALLED RULES OF ORIGIN
00:14:56AND WHAT WE WERE -- WHAT THE
00:15:00USMCA IS SUPPOSED TO DO IS SAY
00:15:02THAT A CERTAIN PERCENTAGE OF ALL
00:15:05PRODUCTS THAT WOULD COME IN
00:15:08ACROSS BORDERS UNDER THE USMCA
00:15:09WITH ZERO TARIFFS WOULD BE NORTH
00:15:14AMERICAN IN ORIGIN.
00:15:16MADE IN THE U.S., MADE IN MEXICO
00:15:18OR CANADA.
00:15:20AND SO WITHIN THAT FRAMEWORK
00:15:23EACH COUNTRY HAD A SHARE OF THE
00:15:25PIE, WE HAD A VERY SUBSTANTIAL
00:15:29SHARE OF THE PIE SO WHAT
00:15:35HAPPENED WITH THIS TRANSSHIPMENT THAT BIDEN WAS NOT WATCHING IS
00:15:38-- THE RULES OF ORIGIN WERE NOT ENFORCED SO THAT INSTEAD OF
00:15:42PARTS FOR AUTOS FOR EXAMPLE BEING EITHER U.S.-MADE, CANADIAN
00:15:44MADE OR MEXICAN MADE, THEY WERE
00:15:48CHINESE MADE OR GERMAN-MADE OR
00:15:49KOREAN MADE.
00:15:53SAME WITH STEEL AND ALUMINUM, SAME WITH A LOT OF ELECTRONIC
00:15:56PRODUCTS.
00:16:01SO THE CENTERPIECE OF THE USMCA WAS RULES OF ORIGIN THAT BENEFITED NORTH AMERICAN TRADING
00:16:04ZONE AND THE FATAL FLAW IS THAT
00:16:08DURING THE BIDEN ADMINISTRATION, THAT WAS FORGOTTEN, THAT WAS NOT
00:16:12ENFORCED.
00:16:15AND WE STARTED SEEING A LOT OF
00:16:17PRODUCTS ACROSS THE UNITED
00:16:19STATES WHERE THE RULES OF ORIGIN
00:16:22WERE NOT RESPECTED AND HAD -- HAS MATES -- WAY TOO MUCH
00:16:25FOREIGN CONTENT IN IT AND WAS
00:16:29NOT MEXICAN OR CANADA.
00:16:31HOST: PLENTY OF INK HAS BEEN
00:16:34SPILLED ON THIS TRADE DISPUTE SINCE IT BEGAN.
00:16:37HERE IS ONE FROM YESTERDAY FROM THE CANADIAN OPINION WRITER IN
00:16:42THE GUARDIAN GIVING YOU A CHANCE TO RESPOND. CANADIANS UNDERSTAND SHE WRITES
00:16:45THAT MAINTAINING OUR SOVEREIGNTY AND INDEPENDENCE WILL ENTAIL
00:16:49CONSEQUENCES AND SACRIFICES.
00:16:57WE DID NOT BRING THIS TRADE WAR ON OURSELVES, WE MERELY REFUSED TO COMPLY IN ADVANCE TO THE
00:17:00UNREASONABLE DEMANDS OF THE BAD-FAITH ACTOR. WE WILL BE PUNISHED FOR IT.
00:17:03WE'VE ACCEPTED THIS. IF NOTHING ELSE LET THE U.S. RETALIATION BE A WARNING TO THE REST OF THE WESTERN ALLIANCE.
00:17:07RUN, RUN, PROTECT YOURSELVES. MOVE FASTER. GUEST: THAT'S SO SELF-RIGHTEOUS
00:17:10AND WRONG.
00:17:20YOUR COUNTRY SCREWS US. DAIRY TARIFFS ALONE JUST -- JUST
00:17:22START WITH THE DAIRY TARIFFS --
00:17:28YOU ARE BASICALLY YOU DO THAT TO
00:17:31US, YOU LIKE WITH ALUMINUM, YOU
00:17:35ARE IN BED WITH THE CHINESE AND
00:17:37PLAYING GAMES.
00:17:39STEEL IS NO -- AND BY THE WAY,
00:17:44BY THE WAY -- CANADA, YOU TALK A
00:17:47REALLY GOOD GAME.
00:17:50YOU DON'T SPEND MUCH OF A DIME
00:17:53ON YOUR OWN DEFENSE.
00:18:01YOU'RE BASICALLY A FREE RIDER UNDER THE AMERICAN UMBRELLA. SO THIS ATTITUDE, THAT'S THE LIBERAL ONTARIO ATTITUDE.
00:18:04OH WE ARE THE BULLY -- LET'S STAND UP TO THE BULLY AND YOU
00:18:08DON'T HAVE ANY SELF REFLECTION
00:18:10BECAUSE YOU ARE THE PROBLEM.
00:18:12LOOK IN THE MIRROR AT YOUR
00:18:21TARIFF CODE. YOU ARE THE PROBLEM AND AND YOU ARE THE ONE WHO IS EGGING ON THE
00:18:24CANADIAN PEOPLE TO BASICALLY INCREASE THEIR SUPPORT, DOUG FORD AND MARK CARNEY FOR THEM TO
00:18:28GET TOUGH AND TALK ABOUT YOUR
00:18:30SOVEREIGNTY.
00:18:34SO UM, JUST DISAPPOINTING.
00:18:38HOST: TWO KEY ECONOMIC NUMBERS
00:18:39TODAY.
00:18:42THE FED'S PREFERRED INFLATION
00:18:45GAUGE SHOWS PRICE INCREASED 3.3
00:18:47PERCENT ANNUALLY IN JULY AND THE
00:18:50OTHER REPORT IS ON THE GROSS
00:18:51DOMESTIC PRODUCT FOR ECONOMIC
00:18:56ANALYSIS, THE GDP GREW 1.5%
00:18:58THAT'S DOWN FROM 2.1% IN THE
00:19:02FIRST QUARTER. WHAT'S YOUR REACTION TO THOSE
00:19:05NUMBERS?
00:19:06GUEST: [LAUGHTER]
00:19:09YOU PUT ME IN AN INTERESTING
00:19:11BIND AS AN ADMINISTRATION
00:19:19OFFICIAL I CAN'T TALK ABOUT THAT BUT HERE'S WHAT I CAN TELL YOU. HOST: APOLOGIES I DIDN'T KNOW THAT.
00:19:23GUEST: IT'S AN EMBARGO IT'S THE
00:19:24WAY IT WORKS.
00:19:309:30 IS WHEN THE MARKET OPENS.
00:19:35BUT WHAT I CAN TELL YOU FOR THE AUDIENCE IS MY BACKGROUND IS IN
00:19:38MACRO ECONOMIC FORECASTING AND I FOLLOW THESE INDICATORS RELIGIOUSLY FOR THE
00:19:40ADMINISTRATION. THERE IS A WEBSITE CALLED REAL
00:19:44CLEAR MARKETS WHICH I REGULARLY POST ON WHEN THE INDICATORS COME
00:19:46OUT AND HERE'S WHAT WHAT THE
00:19:50INDICATORS ARE TELLING US NOW,
00:19:51WHETHER IT IS THE CPI, THE PPI,
00:19:56DURABLE GOODS.
00:19:57THE ISM MANUFACTURING INDEX.
00:20:02WE ARE IN A VIRTUOUS INVESTMENT
00:20:04CYCLE BECAUSE OF TWO THINGS.
00:20:09ONE IS THE TARIFFS HAVE
00:20:11ATTRACTED A TREMENDOUS AMOUNT OF
00:20:15INVESTMENT HERE AND SO THAT IS A GOOD THING.
00:20:17AND THEN THE TAX BILL, THE BIG
00:20:20BEAUTIFUL BILL AS WE CALL IT AS
00:20:23100% EXPENSING FOR INVESTING IN
00:20:26MANUFACTURING AND THAT HAS BROUGHT THINGS IN.
00:20:30WHAT WE ARE SEEING IS -- A, SOME
00:20:33SEQUENTIAL MOVES WHERE WE HAD A
00:20:36CONSTRUCTION BOOM AS INVESTMENT CAME IN AS WE ARE BUILDING THESE
00:20:40FACTORIES.
00:20:43AND THAT HAS ALREADY BEGUN OVER
00:20:45THE LAST SIX MONTHS TO CREATE
00:20:48THE MANUFACTURING JOBS BECAUSE
00:20:56YOU CAN'T HAVE MANUFACTURING JOBS AND TO REBUILD THE FACTORIES. THE ISM MANUFACTURING HAS BEEN
00:21:00GOING UP. IT'S OVER 50 NOW. IT DID GET OVER 50 LAST TIME
00:21:02WHICH WAS WAS AUGUST OF 2022 IN
00:21:13THE BIDEN REGIME SO REAL PROUD FOR MANUFACTURING. SO THAT'S GOING WELL, REAL WAGES
00:21:16ARE GOING WELL FOR BLUE-COLLAR AMERICANS.
00:21:17THE CORE INFLATION RATES HAS
00:21:20BEEN STEADILY TRENDING DOWN, GOOD NEWS FOR EXAMPLE IN RENTS
00:21:24AND HOUSING. A LOT OF THAT HAS TO DO WITH THE
00:21:28DEPORTATION OF MILLIONS OF
00:21:29A LOT OF THAT HAS TO DO WITH THE
00:21:33DEPORTATION OF MILLIONS OF ILLEGAL ALIENS.
00:21:36A LOT OF THE REASON WHY HOUSING PRICES AND APARTMENT RENTS WENT
00:21:40UP DURING THE BIDEN YEARS WAS
00:21:43THE 20 MILLION NEW PEOPLE THAT CAME INTO THE COUNTRY ACROSS OUR BORDERS WHO NEEDED HOUSING.
00:21:49THIS IS JUST MATH.
00:21:52USED CARS PRICES HAVE GONE DOWN, INSURANCE PLUNGED.
00:21:59SO THE ECONOMY ITSELF APPEARS STRONG AND RESILIENT.
00:22:04WE HAVE AN UNEMPLOYMENT RATE
00:22:08THAT HASN'T BUDGED FROM FULL EMPLOYMENT.
00:22:12AND OF COURSE WE HAVE THE
00:22:17NON-CORE, THE SUPPLY SHOCK OIL PRICE VOLATILITY.
00:22:19AND WHAT WE HAVE TO WATCH THEIR VERY CAREFULLY IS WHETHER THERE
00:22:23IS GOING TO BE ANY SPILLOVER AS WE SAY IN THE TRADE FROM THAT
00:22:26INTO THE CORE INFLATION.
00:22:30BUT WE ARE BULLISH ON THIS ECONOMY.
00:22:32I'M WORKING VERY HARD PERSONALLY
00:22:39WITH FOLKS AT THE DEPARTMENT OF
00:22:42AGRICULTURE AND TO DOJ ON ANTITRUST ISSUES THAT GO AFTER
00:22:45FOR EXAMPLE THE BEEF CARTEL.
00:22:47THE FOUR FIRM BELIEF CARTEL THAT'S DRIVING PRICES UP.
00:22:50-- BEEF CARTEL THAT'S DRIVING
00:22:55PRICES UP.
00:22:56GO TO MY WEBSITE PETER
00:23:01NAVARRO.COM AND YOU CAN GET
00:23:04ACCESS TO ALL OF MY ARTICLES JUST ON THE ECONOMY ALONE.
00:23:07HOST: I PROBABLY HAVE ABOUT 20
00:23:09CALLS FOR YOU.
00:23:13STEVE, REPUBLICAN IN FLORIDA. GO AHEAD.
00:23:17CALLER: MR. NAVARRO, I'M A REPUBLICAN AND I'M DISMAYED THAT
00:23:21THE REPUBLICANS HAVEN'T DONE A
00:23:22GOOD ENOUGH JOB EXPLAINING TO
00:23:26THE DEMOCRATS AND THE INDEPENDENCE OF SOME OF THE
00:23:28POSITIVE THINGS THE TRUMP
00:23:31ADMINISTRATION HAS ACCOMPLISHED. THEY ARE NOT AWARE OF 6000
00:23:35DOLLARS CREDIT AGAINST YOUR NET INCOME IF YOU ARE ON SOCIAL
00:23:38SECURITY TO REPLACE THE 6.2 TAX
00:23:42THAT WAS THERE.
00:23:44THEY ARE NOT AWARE OF THE THOUSAND DOLLARS GIVEN TO CHILDREN TO HELP THEM GROW THEIR FUTURE.
00:23:51THEY ARE NOT AWARE OF THE CHANGE OF THE MOST FAVORED NATION PHARMACEUTICAL RATES WHERE WE
00:23:56ARE PAYING THE LOWEST RATES ON PHARMACEUTICALS WHERE WE WERE
00:23:59PAYING THE HIGHEST RATES AND THEY ARE NOT AWARE OF THE TAX SAVINGS THAT WAS DONE BY THE BIG
00:24:03BEAUTIFUL BILL. I HOPE YOU CAN SHARE THAT WITH
00:24:04THE PRESIDENT AND HAVE HIM GET
00:24:08MORE REPUBLICAN STRATEGISTS OUT
00:24:11THERE, ESPECIALLY THE YOUNG WOMEN OUT THERE, TO EXPLAIN THIS
00:24:14TO THE PUBLIC WHO ARE NOT AWARE OF IT. MY FAMILY ARE ALL DEMOCRATS.
00:24:18THEY ARE NOT AWARE OF IT. HOST: PETER NAVARRO ON
00:24:21MESSAGING. GUEST: I JUST LOVE THAT.
00:24:25THAT IS SO ON POINT.
00:24:28THE GOSPEL I PREACHED AND ALWAYS
00:24:30HAVE AT THE WHITE HOUSE THE
00:24:35WHITE HOUSE WITH RESPECT TO POLITICAL MESSAGING IS I LIKE
00:24:38AND WHAT MUST HAPPEN EVERY DAY IS YOU PLAY A SONG.
00:24:45THE NEW CYCLE ITSELF IS THE MELODY. WHATEVER IS GRABBING YOUR
00:24:49ATTENTION THAT DAY IS WHAT'S
00:24:52GOING TO LEAD THE PRODUCERS AT ALL THE CABLE TV SHOWS AND BE ON
00:24:55THE FRONT PAGES OF THE PAPER. BUT THE BASELINE IS WHAT YOU'RE
00:24:59TALKING ABOUT, SIR.
00:25:02THE BREAD-AND-BUTTER KITCHEN TABLE ISSUES THAT AMERICANS CARE
00:25:05MOST ABOUT IN THE POLLS THAT
00:25:11DON'T GET TALKED ENOUGH ABOUT.
00:25:15THAT'S WHAT I TRY TO DO, THAT'S
00:25:17WHAT THE PRESIDENT TRIES TO DO. I'M NOT GOING TO COMPLAIN TOO
00:25:22MUCH HERE BUT I WILL SAY FOR
00:25:24EXAMPLE WITH THE WHOLE TAX BILL,
00:25:27THE BIG BEAUTIFUL BILL, THAT JUST GOT A WITHERING STORM OF
00:25:32CRITICISM WHEN IT CAME OUT FROM THE LEGACY MEDIA.
00:25:38CNN, WHATEVER -- IT JUST --
00:25:42FIXED ATTITUDES. THERE'S PROVISIONS IN THAT BILL. NO TAX ON TIPS.
00:25:46NO TAX ON SOCIAL SECURITY. THE ONE I MENTIONED.
00:25:50FROM MY POINT OF VIEW, I'M THE
00:25:53SENIOR COUNCIL FOR TRADE AND WHAT, MANUFACTURING.
00:25:56AND WHEN I GET 100 PERCENT
00:25:59EXPENSING IN THE TAX CODE FOR
00:26:01BUILDING FACTORIES, THAT MAKES MY DAY.
00:26:05SO I TRY TO TALK AS MUCH ABOUT
00:26:08ALL OF THIS AS I CAN BUT I WILL
00:26:11TAKE YOUR MESSAGE RIGHT BACK TO THE PRESIDENT.
00:26:14IN FACT I WOULD DO YOU EVEN BETTER. I'M GOING TO HAVE MY STAFF GRAB
00:26:18A LITTLE CLIP OF YOUR QUESTION AND I WILL MAKE SURE TO GET THAT
00:26:21TO THE PRESIDENT TO LISTEN TO
00:26:27BECAUSE WE ARE COMING UP TO AN ELECTION IN NOVEMBER THAT'S
00:26:29GOING TO BE VERY CONSEQUENTIAL TO THIS COUNTRY AND IT IS THE
00:26:34ECONOMY, STUPID. HOST: ANOTHER QUESTION.
00:26:37THIS IS JACK IN MARYLAND ON THE LINE FOR DEMOCRATS.
00:26:40YOU ARE ON WITH PETER NAVARRO.
00:26:43CALLER: GOOD MORNING GUYS. MR. NAVARRO HAS BEEN KIND OF ALL
00:26:46OVER THE PLACE.
00:26:49I WOULD LIKE TO REMIND WHERE
00:26:52THIS TRADE WORK AGAIN WHEN TRUMP WAS INAUGURATED. REMEMBER FIRST HE WAS GOING
00:26:56AROUND SAYING CANADA SHOULD BE MADE THE 51ST STATE.
00:26:59THAT WAS ONE RATIONALE.
00:27:00THEN IT MOVED ON TO THEY ARE
00:27:03ALLOWING FENTANYL INTO THE U.S. THROUGH THEIR BORDERS.
00:27:06THEN IT WAS AN IMMIGRATION ISSUE. SO IT'S BEEN ALL TYPES OF
00:27:10DIFFERENT RATIONALE REGARDING WHY WE GOT INTO THIS TRADE WAR
00:27:15WITH CANADA. BUT WHAT I WOULD LIKE TO ASK MR.
00:27:17NAVARRO IS ONCE THESE NEW
00:27:19TARIFFS ARE PUT INTO PLACE, WHO
00:27:21IS RESPONSIBLE FOR PAYING THOSE TARIFFS?
00:27:25BECAUSE MR. TRUMP LIKES TO INTIMATE THAT THE ACTUAL GOVERNMENTS OF THE COUNTRIES
00:27:29WHERE IMPOSING THESE TARIFFS ON ARE PAYING THE TARIFFS. COULD YOU CLEAR THAT UP?
00:27:33IS THE GOVERNMENT OF CANADA GOING TO BE PLAYING -- PAYING
00:27:37THESE TARIFFS? HOST: PETER NAVARRO.
00:27:41GUEST: LET ME START WITH THE KIND OF FLIPPANT YOU ARE ALL
00:27:45OVER THE PLACE KIND OF STUFF. THE PROBLEM IS THERE'S JUST A
00:27:48LOT OF ISSUES AND I WANT TO
00:27:52ADDRESS THE ALL OVER YOUR PLACE
00:27:54WITH RESPECT TO FENTANYL AND
00:27:57ILLEGAL IMMIGRATION BECAUSE YOU ARE ABSOLUTELY CORRECT AT THE
00:28:01BEGINNING OF THE SECOND TERM OF
00:28:02DONALD TRUMP, WE PUT ON TARIFFS
00:28:10TO ADDRESS THOSE PARTICULAR ISSUES.
00:28:12THE FENTANYL ISSUE IS ONE THAT
00:28:18NO AMERICAN SHOULD FORGET.
00:28:19WE HAVE BEEN LOSING OVER 50,000
00:28:23AMERICANS A YEAR TO FENTANYL
00:28:29DEATHS. IT ALL COMES FROM CHINA.
00:28:33ITS PRECURSOR CHEMICALS.
00:28:35AND A LOT OF IT IS MIXED TOGETHER AND DISTRIBUTED OVER
00:28:38THE SOUTHERN BORDER BY THE MEXICAN CARTELS BUT AS WE HAVE
00:28:42CRACKED DOWN ON THEM THERE'S A
00:28:43LOT OF THAT ACTIVITY IN CANADA
00:28:47INCLUDING MEXICAN CARTELS OPERATING IN CANADA BRINGING IN
00:28:52CHINESE FENTANYL. SO WE MAKE NO APOLOGIES FOR
00:28:54BEING ALL OVER THAT PLACE, SIR.
00:28:59AND THE SAME PROBLEM WE HAVE HAD
00:29:01WITH ILLEGAL IMMIGRATION.
00:29:04AS WE WORK TO TIGHTEN THE SOUTHERN BORDER AND AS MEXICO
00:29:08HAS BEEN VERY COOPERATIVE ABOUT THAT, THE CANADIANS LESS SO.
00:29:15NOW, WITH RESPECT TO WHO PAYS
00:29:16THE TARIFFS, DO TARIFFS CAUSE
00:29:23INFLATION. YOU WERE SPOONFED EVERY DAY THAT
00:29:26CONSUMERS PAY AND PRICES GO UP,
00:29:29WHEN IN FACT THE DATA ON THIS IS
00:29:31UNAMBIGUOUSLY CLEAR DATING BACK
00:29:35TO THE FIRST TRUMP TERM.
00:29:38WE WERE TOLD REPEATEDLY WHEN WE
00:29:40PUT IN THE CHINA TARIFFS THAT
00:29:43PRICES WOULD RISE AND CONSUMERS WOULD PAY THEM.
00:29:45WE DID NOT SEE ANY OF THAT, SIR.
00:29:47ANY OF THAT. WE DO NOT SEE IT NOW.
00:29:50AND THE REASON IS VERY SIMPLE.
00:29:56CHINA OVER PRODUCES EXCESS CAPACITY.
00:29:59IT NEEDS OUR MARKET AND WHEN WE ARE PUTTING TARIFFS ON COUNTRIES
00:30:02THAT HAVE TO BE IN THIS MARKET IN ORDER FOR THEIR ECONOMIES TO
00:30:06WORK, THEY LOWER THEIR PRICES. THAT'S HOW THEY GET IT.
00:30:12WE DON'T PAY TARIFFS. THEY PAY THE TARIFFS.
00:30:15THAT'S WHY IT WORKS AND THAT
00:30:17MONEY THAT COMES IN AS TARIFFS
00:30:20IS GOING TO HELP EVERYONE IN THIS COUNTRY REGARDLESS OF IF
00:30:23YOU ARE DEMOCRAT OR REPUBLICAN. PAY FOR OUR BILLS FOR OUR
00:30:27GOVERNMENT OR GET YOU A TAX CUT.
00:30:31HOST: I DID WANT TO GIVE YOU A CHANCE TO TALK ABOUT THAT BOOK
00:30:34WE MENTIONED AT THE TOP OF THIS
00:30:37PROGRAM THAT COMES OUT OCTOBER 13 FROM WAR ROOM BOOKS WRITTEN
00:30:42WITH STEVE BANNON.
00:30:45THE TITLE, WIFE OUT SHE MUST ROT IN PRISON. WHAT IS THE CASE YOU MAKE IN THAT BOOK?
00:30:52GUEST: I HAVE A VERY UNIQUE PERSPECTIVE. I DON'T THINK ANYONE ELSE COULD
00:30:56WRITE THIS BOOK. IT'S ESSENTIALLY A TALE OF TWO
00:31:00DIARIES.
00:31:00WE HAVE DISCOVERED FAUCI'S 1100
00:31:07PAGE DIARY FULL OF REVELATIONS
00:31:11AND I MYSELF WROTE A DIARY DURING THE PANDEMIC AND WHAT IT
00:31:13FOUND SHE AND I WERE TWO PEOPLE
00:31:16IN 2020 THAT WERE IN AMERICA
00:31:19DURING THE PANDEMIC TRYING TO KEEP AMERICANS ALIVE. AND I DID MY JOB.
00:31:25I GOT YOU VENTILATORS, I GOT YOU
00:31:29MASKS, I GOT YOU SWABS, I GOT YOU TESTING KITS.
00:31:35I WORKED REALLY HARD. AND THE BIGGEST PROBLEM I HAD
00:31:39WAS TONY FAUCI.
00:31:42THERE ARE SOME GREAT SCENES IN THE BOOK.
00:31:45WHY PYEONGCHANG -- WHY FOUND SHE
00:31:54-- FAUCI MUST ROT IN PRISON.
00:32:00-- ACROSS A WHOLE RANGE OF ISSUES HE WAS TELLING YOU THE
00:32:04PUBLIC ONE THING AND HE WAS
00:32:09WRITING QUITE ANOTHER THING IN AND I FOUGHT HIM ON EVERYTHING
00:32:13AND HISTORY WILL PROVE ME RIGHT ON EVERYTHING I FOUGHT HIM ON. TAKE THE LOCKDOWN.
00:32:19EARLY ON, I WAS SAYING THAT MORE
00:32:23PEOPLE MIGHT WELL DIE OR BE
00:32:26HARMED BY THE LOCKDOWN THEN JUST
00:32:34HAVING MORE REASONABLE WAYS OF DEALING WITH THE VIRUS.
00:32:37FOUND SHE -- FAUCI WAS ALL
00:32:46ABOUT THE LOCKDOWN. HE WAS SAYING LOCK EVERYBODY
00:32:50DOWN AND GUESS WHAT, HISTORY HAS SHOWN ME RIGHT ON THAT. THE TRAVEL BAN.
00:32:56THE CHINA TRAVEL BAN FIRST TIME I EVER MET HIM.
00:33:01I THINK THE POINT IS THIS BOOK
00:33:03WILL SHOW YOU JUST HOW TO FIT
00:33:06TONY FAUCI WAS AND JUST HOW MUCH DAMAGE HE DID.
00:33:09I'M BURYING THE LEAD BIG TIME HERE BECAUSE THERE IS A STRONG
00:33:12CASE TO BE MADE THAT TONY FAUCI
00:33:16IS THE GODFATHER OF THAT PANDEMIC.
00:33:19THAT TONY FAUCI IS THE GUY AND
00:33:22HIS BUREAUCRACY WHO GAVE THE
00:33:23GRANT MONEY, FOLLOW ME HERE, TO
00:33:29THE WUHAN LAB THROUGH A CUTOUT
00:33:31CALLED THE ECO-HEALTH ALLIANCE
00:33:34TO PERFORM GAIN OF FUNCTION
00:33:36RESEARCH WHICH ENABLED THE
00:33:39CHINESE TO TAKE A HARMLESS BACK
00:33:41TO FIRE US AND TURN IT INTO
00:33:43SOMETHING THAT COULD KILL HUMANS. OK?
00:33:49AND THAT VIRUS ESCAPED FROM THAT LAB.
00:33:51THAT'S A NEAR CERTAINTY RIGHT NOW.
00:33:54WHO WAS SAYING THAT? ME.
00:33:59APRIL 2020. I SAID THAT PUBLICLY.
00:34:03FAUCI TOTALLY DENIED IT. BUT GUESS WHAT?
00:34:08IN HIS OWN DIARY SEVERAL MONTHS
00:34:10BEFORE HE HAD BEEN ADVISED BY 12
00:34:14PROMINENT SCIENTISTS THAT THAT
00:34:15VIRUS LIKELY CAME FROM A LAB.
00:34:19SO THE BOOK WHY FAUCI MUST ROT
00:34:26IN PRISON, I WRITE IT AS A PROSECUTOR.
00:34:29I SHOW YOU THE CASE AGAINST HIM ON ALL THE DIFFERENT WAYS THAT
00:34:32HE EFFECTIVELY LIED TO YOU AND
00:34:34IF YOU THINK THIS MAN IS SOME
00:34:37KIND OF TREASURE OR NATIONAL HERO, READ THIS BOOK.
00:34:41AND IF YOU STILL BELIEVE IT AFTER YOU READ THIS BOOK, I WILL GIVE YOU YOUR MONEY BACK.
00:34:45WHY FAUCI MUST ROT IN PRISON.
00:34:50I HOPE YOU TAKE A GOOD LOOK AT IT AND I WOULD LOVE TO HEAR FROM YOU.
00:34:54I THOUGHT THIS GUY. I WAS THE ONLY GUY IN THE WEST WING.
00:34:58I WAS RIGHT ON THE LOCKDOWN'S
00:35:01AND MASKS AND THE CHINA TRAVEL BAN AND THE VACCINES.
00:35:04I HELPED GET THOSE VACCINES
00:35:07GOING AND THOSE VACCINES SHOULD HAVE BEEN ONLY FOR PEOPLE WHO
00:35:11NEEDED THE VACCINES. YOU DON'T GIVE THEM TO KIDS, YOU
00:35:13DON'T GIVE THEM TO YOUNG MEN WITH HEALTHY HEARTS AND THEN
00:35:17BLOW THEIR HEARTS UP WITH THAT VACCINE.
00:35:21SO THERE IT IS.
00:35:23WHY FAUCI MUST ROT IN PRISON.
00:35:27HOST: THAT BOOK OUT OCTOBER 13.
00:35:29THAT'S ALL THE TIME WE HAVE WITH PETER NAVARRO THIS MORNING.
00:35:33HE IS THE PRESIDENT'S SENIOR COUNSEL ON TRADE AND MANUFACTURING.
00:35:36COME BACK AND CHAT WITH OUR VIEWERS DOWN THE LINE.
00:35:40GUEST: IT'S BEEN A REAL PLEASURE. I LOVE C-SPAN.
00:35:44I WANT TO PUT A PLUG IN FOR
00:35:48C-SPAN. IT'S A CALM BIPARTISAN LOOK AT
00:35:49THE NEWS EVERY DAY AND GOD BLESS
00:35:54YOU ALL. HOST: APPRECIATE YOUR SAYING THAT.
00:35:57>> SUBMITS THE