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>> STEEL IS STEEL.
YOU DON'T HAVE STEEL, YOU DON'T
HAVE A COUNTRY.
WE WANT TO BUILD OUR SHIPS, WE
WANT TO BUILD OUR PLANES, WE
WANT TO BUILD OUR MILITARY
EQUIPMENT WITH STEEL, WITH
ALUMINUM FROM OUR COUNTRY.
YOU DON'T WANT TO PAY TAX?
BRING YOUR PLANT TO THE USA.
THERE IS NO TAX.
WE ARE NEGOTIATING NOW WITH
CHINA.
WE ARE IN THE MIDST OF A BIG
NEGOTIATION.
I DON'T KNOW THAT ANYTHING IS
GOING TO COME OF IT.
THEY HAVE BEEN VERY HELPFUL.
PRESIDENT GEE, I HAVE GREAT
RESPECT FOR.
A LOT OF RESPECT.
BUT I DON'T KNOW THAT ANYTHING
IS GOING TO COME OF THAT.
BUT WE ARE WILLING TO CUT DOWN
THE DEFICITS ONE WAY OR THE
OTHER.
>> Bret: PRESIDENT TRUMP TODAY
PULLING THE TRIGGER ON WHAT HE'S
TALKED ABOUT FOR A LONG TIME,
AND THAT IS TARIFFS ON IMPORTED
STEEL AND ALUMINUM.
DESPITE SOME PUSHBACK FROM
PEOPLE IN HIS OWN PARTY ABOUT
THIS, THAT SAID, THERE COULD BE
COMES TO SHOVE ON WHAT EXACTLY
HAPPENS WITH ALLIES, KEY ALLIES,
WHO EXPORT STEEL INTO THE U.S.
WE ARE GOING TO START THERE AS
WE WAIT FOR THE BREAKING NEWS
OUT OF THE WHITE HOUSE ON
SOUTH KOREA AND NORTH KOREA,
LET'S BRING IN OUR PANEL.
JONATHAN SWANN, NATIONAL
POLITICAL REPORTER FOR X EUROS.
KATIE PAVLICH, NEWS EDITOR AT
TownHall.com.
AND CHARLES LANE, OPINION EDITOR
FOR "THE WASHINGTON POST."
IT WASN'T A SURPRISE, IT MAY BE
WAS A SURPRISE HOW IT WAS ROLLED
OUT, BUT THE PRESIDENT HAS
TALKED ABOUT WANTING TO DO THIS
FOR QUITE SOME TIME.
THE QUESTION IS WHETHER IT IS
GOING TO BE AS BIG AS THEY SAY
IT IS.
>> BIGGEST ESSAY IT IS IN TERMS
OF THE CONSEQUENCES WITH
REPUBLICANS IN THE CHAMBER OF
CONGRESS ARE RUNNING ABOUT OR
WHETHER THE PRESIDENT IS GOING
TO WATER DOWN SOME OF THE THINGS
THAT HE PUT ON THE TABLE
INITIALLY AND IF YOU LOOK AT THE
WAY THAT IS NEGOTIATED, HE TENDS
TO DO THAT.
THE LANGUAGE THAT HE USED TODAY
IN HIS INITIAL OPENING LINE AT
THE WHITE HOUSE DURING HIS EVENT
WITH THE STEELWORKERS BEHIND
HIM, WHEN HE TALKED ABOUT THIS
BEING ABOUT FLEXIBILITY IN
COOPERATION WITH OUR TRUE
FRIENDS, BOTH IN TERMS OF
NATIONAL SECURITY, TRADE, AND
OUR MILITARY BASES, THAT SAYS TO
ME THAT HE IS NOT GOING TO
NEGOTIATE THESE TARIFFS ON A
TRADE ISSUE, HE'S GOING TO
NEGOTIATE THIS WITH THE RESPECT
OF OUR NATO ALLIES CONTRIBUTING
MORE MONEY AS HE'S TALKED ABOUT
IN THE PAST.
FOR REPUBLICANS WHO HAVE
CRITICIZED THIS, IT'S NOT JUST
THEY ARE ON PRINCIPLE OPPOSING
TARIFFS, WHICH THEY DO BASED ON
THE HISTORY OF HOW TARIFFS
AFFECT OF THE ECONOMY IN THIS
COUNTRY.
THEY ARE ALSO DOING THIS
POLITICALLY BECAUSE IF THE
TARIFFS DO TAKE AWAY ALL OF THE
GAINS FROM TAX REFORM THAT
REPUBLICANS HAVE BEEN ABLE TO GO
BACK TO THE DISTRICTS AND
ELECTION YEAR AND TOUT, THEY CAN
SAY THAT THEY WERE AGAINST IT
FROM THE BEGINNING, AND IT'S NOT
NECESSARILY THEIR FAULT BECAUSE
THEY HAD THE DISTANCE FROM THE
PRESIDENT.
>> Bret: JONATHAN, IF IT IS,
AS IT'S STARTING TO UNFOLD HERE,
THAT EACH ALLY, EACH COUNTRY
INVOLVED, IS GOING TO
INDIVIDUALLY NEGOTIATE IN SOME
WAY TO AVOID THESE TARIFFS ON
THEIR EXPORTS, YOU CAN FORESEE
THAT SOME OF THESE COUNTRIES ARE
GOING TO TAKE THAT BALL AND RUN
WITH IT AND MAYBE IT DOESN'T
AFFECT THOSE BIG COUNTRIES WHO
ARE EXPORTING STEEL INTO THE
U.S.
>> YES, THAT IS THE MOST
OPTIMISTIC SCENARIO.
BUT JUST TO GET YOU INSIDE DRUMS
THINKING HERE, ONE OF THE BIG
BREAKTHROUGHS IN HIS OWN MIND --
SHE DIDN'T WANT TO DO ANY
EXCEPTIONS.
ALL ALONG, FOR 30 MONTHS, HE WAS
INCOME IF I GIVE CANADA
EXCEPTIONS, THEN I'LL GET A
CALL FROM JAPAN, SO HE DIDN'T
WANT TO DO ANYTHING.
HE WANTED TO DO BLANKET GLOBAL
TARIFFS.
HE HAD A CONVERSATION WITH
JUSTIN TRUDEAU AND HE BECAME
CONVINCED THAT HE COULD GET A
BETTER DEAL ON NAFTA BECAUSE
CANADA SELLS SO MUCH STEEL AND
CEMENT ALUMINUM.
>> Bret: AND MEXICO.
>> MEXICO MUCH LESS ACTUALLY.
IT'S ABOUT CANADA MORE THAN
MEXICO, EVEN THOUGH THEY ARE
EXEMPT.
CANADA IS THE BIG ONE.
SO TRENT BELIEVES HE WILL GET A
BETTER DEAL.
WHAT IF HE DOESN'T?
HE COULD EASILY GO IN THE OTHER
DIRECTION.
I KNOW WE ARE ALL SAYING HE WILL
GO IN THIS NICE, KIND, GENTLE
DIRECTION BUT I THINK WE HAVE TO
CONSIDER THE OTHER POSSIBILITY,
AS WELL.
>> THAT'S ONLY IF HE GETS
SOMETHING IN RETURN.
>> Bret: POLITICALLY, THE
IMAGE OF THE PRESIDENT WITH A
STEELWORKERS TELLING THEIR
STORIES ABOUT COMPANIES THAT ARE
SLOWING DOWN, LOSING WORK, THAT
POLITICALLY WORKS FOR THIS
PRESIDENT.
>> CERTAINLY IN WESTERN
PENNSYLVANIA WHERE THEY ARE
ABOUT TO HAVE A SPECIAL
ELECTION --
>> Bret: PENNSYLVANIA 18.
>> THERE'S A LOT OF STEEL MILLS.
OF COURSE ECONOMICALLY, THIS IS
KIND OF AN ON THE SQUARE BOWL
CIRCLE.
THIS YOU CAN EITHER EFFECT AND
SAVE THE STEEL JOBS OR IT CAN BE
UNACCEPTABLE TO OUR ALLIES.
IT CAN TRULY BE BOTH.
WHAT THE PRESIDENT HAS SET UP IS
THIS FUNNY KIND OF LOBBYORAMA
COMBO THEIR PLEA FOR SOME KIND
OF A CARVE OUT IN THIS THING.
AND THEN IF ANY OF THEM GET IT,
THE QUESTION WILL BE, IS THERE
ANYTHING LEFT OF THE PROTECTION
THAT HE'S TALKING ABOUT THAT IS
SO IMPORTANT?
ACTUALLY, WHEN YOU REALLY THINK
ABOUT IT, IT'S -- WHAT HE HAS IN
MIND, THE CRITERIA, BRET, HE WAS
OFFERING THESE COUNTRIES WERE
VERY VAGUELY STATED.
IF THEY DO MORE ON MILITARY, IF
THEY TREAT US FAIRLY, SO IF
THERE WILL BE CARVE OUT, IF THIS
THING IS GOING TO BE TURNED INTO
SWISS CHEESE AS JOHN ROBERTS
SAID TO THE BUSH TARIFFS WERE,
IT WILL BE AFTER A LONG DRAWN-OT
PROCESS THAT HAS A LOT OF
POLITICS INVOLVED.
>> Bret: ALL RIGHT, HERE IS
THE PRESIDENT ESSENTIALLY SAYING
GOODBYE TO HIS ADVISOR, GARY
COHN TODAY.
>> HE'S GOING TO GO OUT AND MAKE
ANOTHER COUPLE HUNDRED MILLION
AND THEN HE'S GOING TO MAYBE
COME BACK.
HE MIGHT COME BACK, RIGHT?
WE'LL BE HERE ANOTHER SEVEN
YEARS HOPEFULLY.
THAT'S A LONG TIME.
I HAVE A FEELING YOU'LL BE BACK.
I DON'T KNOW IF I COULD PUT THEM
IN THE SAME POSITION, THOUGH.
HE'S NOT QUITE AS STRONG ON
THOSE TARIFFS AS WE WANT HIM.
>> Bret: HE WENT ON TO CALL
HIM A GLOBAL LIST A COUPLE OF
TIMES, AS WELL.
>> A NICE, LIGHTHEARTED MOMENT.
GLAD TO SEE THAT GARY COHN IS
LEAVING THE WHITE HOUSE ON GOOD
TERMS.
HE'S NOT GETTING THE
STEVE BANNON TREATMENT, AND THE
INTRIGUE ABOUT WHAT HE WILL DO
IF HE COMES BACK IT IS
INTERESTING.
"THE NEW YORK TIMES" REPORTED
MAYBE HE WILL BE THE NEXT CHIEF
OF STAFF.
>> Bret: AND THE INSIDE AS TO
WHO IS UP TO THAT POSITION?
>> SHE HERE IS A NAME THAT IS
BEING THROWN AROUND A LOT.
SHE'S A SENIOR OFFICIAL ON THE
NATIONAL ECONOMIC COUNCIL.
GARY COHN IS ADVOCATING FOR HER.
SO OUR SENIOR PEOPLE ON
CAPITOL HILL.
SHE'S DEFINITELY IN THE MIX.
BUT THERE'S OTHERS AS WELL,
WE'VE REPORTED KEVIN WALSH, AND
THE RUNNING FOR FED CHAIR, A
NAME THAT TRUMP IS TALKING
ABOUT.
HE IS STILL SPENT FALLING.
>> Bret: LARRY KUDLOW?
>> HAVEN'T HEARD HIS NAME AS