>> Ed: TRADING UNDERWAY ON WALL STREET JUST A COUPLE
MOMENTS AGO AS INVESTORS REACT
TO ANOTHER SOLID JOBS REPORT,
THE U.S. ECONOMY ADDING 225,000
JOBS IN JANUARY.
UNEMPLOYMENT PICKING UP SLIGHTLY
TO 3.6%.
TO 3.6%. JOINING US NOW IS WHITE HOUSE
TRADE ADVISOR PETER NAVARRO,
THANK YOU FOR JOINING US.
LET’S GET SOME FRESH REACTION TO
THAT JOBS REPORT.
MY UNDERSTANDING OF WHY THE
UNEMPLOYMENT RATE TICKED UP
SLIGHTLY IS THAT WE HAVE PEOPLE
FLOODING THE JOBS MARKET, IS
THAT TRUE?
THAT TRUE? >> TRULY EXTRAORDINARY, MILLIONS
OF PEOPLE HAVE COME INTO THE JOB
MARKET, DISCOURAGED WORKERS THAT
WERE ON THE COUCH AND ABIDE
FIGHTING YEARS ARE COMING BACK
AND THE LABOR FORCE
PARTICIPATION RATE BUMPED UP AND
THAT IS REALLY IMPORTANT.
THE UNTOLD ABOUT THIS NUMBER IS
THE PRESIDENT’S ONE JOB AT A
TIME APPROACH AND YOU TALK ABOUT
MACRO STUFF LIKE THE REGULATION
TAX CUTS, THAT’S BEEN A GREAT
DRIVER FOR THE ECONOMY BUT THE
PRESIDENT ALSO TAKES IT FROM A
MICRO POINT, SHIPYARDS AND
PHILLY, COMBAT VEHICLE PLANS IN
PLACES LIKE LIMA, OHIO, YORK,
PENNSYLVANIA, THE PRODUCTION
LINE IN GREENVILLE,
SOUTH CAROLINA, THESE ARE THINGS
THAT ALL HAPPENED BECAUSE
PRESIDENT DONALD J. TRUMP
FOCUSES ON JOB CREATION EVERY
DAY AND WE ARE SEEING THE FRUITS
OF THAT AND IT’S A BEAUTIFUL
THING.
THING. >> Ed: TALK ABOUT THE TRADE
DEFICIT BECAUSE A RECENT REPORT
SAID NARROWED FOR THE FIRST TIME
IN SIX YEARS, THIS PRESIDENT HAD
THAT VICTORY OBVIOUSLY PHASE ONE
ON THE CHINA TRADE DEAL, TALK
ABOUT THE ROAD AHEAD.
>> IT IS TRULY EXTRAORDINARY,
THE PRESIDENT PROMISED WE WOULD
GET THE TRADE DEFICIT DOWN, IT
TAKES A WHILE TO DO THAT.
THE REASON WHY HE FOCUSES ON THE
TRADE DEFICIT IS THAT WHEN THAT
TRADE DEFICIT GOES DOWN, OUR
GROWTH GROWS UP, OUR REAL GDP
GOT A FULL POINT OF GROWTH FROM
THAT REDUCTION IN THE TRADE
DEFICIT AND WHY DOES IT MATTER?
IT’S BECAUSE JOBS COME HOME.
SO HE’S GOING TO KEEP FOCUS ON
THAT, IT IS A TESTAMENT TO HIS
TARIFF POLICY AS WELL AS HIS
TOUGH TRADE POLICY.
THE OTHER THING THAT WAS GOOD
NEWS THIS WEEK THAT REALLY
HELPED PROPEL THE MARKETS WAS
WHAT THEY CALL THE ISM
MANUFACTURING INDEX AND IT WAS
ABOVE 50 AGAIN AND WHEN IT’S
ABOVE 50, IT IS A ZERO TO 100
INDEX THAT MEANS THE ECONOMY IS
ROBUST AND EXPANDING.
SO ALL THESE NUMBERS ARE GOOD,
BUT THEY ARE A REFLECTION OF
THIS ONE JOB AT A TIME APPROACH
BY THE PRESIDENT, FAIR TRADE,
REDUCE OUR TRADE DEFICIT, FOCUS
ON MANUFACTURING, WE’VE HAD OVER
500,000 MANUFACTURING JOBS
CREATED SO IT’S A BEAUTIFUL
THING HERE IN AMERICA.
>> Ed: A BLUE-COLLAR BOOM, HE
TALKED ABOUT THE STATE OF THE
UNION AND DESPITE THE GOOD NEWS,
WE SHOWED IT A MOMENT AGO.
BIG PICTURE, IT HAS BEEN MOSTLY
UP BUT YOU SEE IT DOWN EVEN
THOUGH WE HAD THIS GOOD JOBS
NUMBER, BEEN CONCERNS ABOUT THE
CORONAVIRUS, PRESIDENT HAD A
PHONE CALL LAST NIGHT, I WILL
QUICKLY RECAP THE STATEMENT FROM
THE WHITE HOUSE TODAY, THE
PRESIDENT SPOKE WITH
PRESIDENT XI, THE PRESIDENT
EXPRESSED CONFIDENCE AND
STRENGTH AND RESILIENCE IN
CONFRONTING THE CHALLENGE OF THE
2019 CORONAVIRUS OUTBREAK.
WHY DOES THE WHITE HOUSE HAVE
SUCH CONFIDENCE IN CHINA WHEN A
LOT OF CRITICS AROUND THE WORLD
HAVE BEEN QUITE CRITICAL OF
CHINA’S RESPONSE?
CHINA’S RESPONSE? >> THE PRESIDENT IS ALWAYS
OPTIMISTIC WITH WORLD LEADERS
TRYING TO ENCOURAGE THEM TO DO
THINGS THAT NEED TO BE DONE AND
IT’S REALLY IMPORTANT FOR CHINA
TO CONTAIN THAT VIRUS WITHIN THE
BOUNDARIES OF CHINA AND TO STOP
ITS CONTAGION AND EXPANSION, SO
I THINK WITH THE PRESIDENT WAS
SIMPLY OFFERING THEIR WAS A HAND
OF FRIENDSHIP.
OF FRIENDSHIP. IS REALLY IMPORTANT THAT WE GET
OUR CDC PERSONNEL ON THE GROUND
THEY ARE TO HELP, TRYING TO GET
THAT DONE.
THAT DONE. WE NEED TO FIND OUT MORE ABOUT
WHAT’S GOING ON THERE, BUT I
WOULD SAY THAT PRESIDENT TRUMP
ACTED VERY DECISIVELY AND
QUICKLY WHEN HE STOPPED THE
FLIGHTS COMING IN FROM CHINA,
THAT WAS THE FIRST LINE OF
DEFENSE, SO LET’S SEE WHAT
HAPPENS, BUT THIS IS VERY
SERIOUS AND THAT PREVIOUS
SEGMENT YOU HAD, THAT IS
GRIPPING TV TALKING TO THOSE
INDIVIDUALS BECAUSE THAT REALLY
BRINGS IT HOME.
>> WHAT IS THE PRESIDENT DOING?
YOU HEARD THAT DIRECT MESSAGE
FROM THE TWO PASSENGERS, I KNOW
HE CAN’T SAVE EVERYBODY ALL AT
ONCE AS YOU KNOW, BUT TALK ABOUT
THE WHITE HOUSE RESPONSE TO MAKE
SURE EVERY AMERICAN THAT IS IN
DANGER CAN GET BACK TO AMERICA
SAFELY.
SAFELY. >> WE HAVE THE TOP PEOPLE ON A
TASK FORCE, YOU’VE GOT HIM AS
WELL OVER AT DHS, ROBERT O’BRIEN
NATIONAL SECURITY ADVISOR, AND
WE NEED TO LOOK AT THIS FULL
RANGE OF OPTIONS IN ORDER TO BE
READY IN CASE THAT REACHES OUR
SHORES IN ANY SIGNIFICANT
NUMBER.
NUMBER. SO WE WORKING ON THAT EVERY DAY
IN THE MOST SERIOUS WAY AND
PREPARED FOR ANY CRISIS THAT
MIGHT EMERGE.
MIGHT EMERGE. >> Ed: A BIG STORY.
FINALLY, IT APPEARS THAT YOU
WERE IN SOME KIND OF A FEUD, THE
WAY IT’S BEING REPORTED, WITH
JEFF BEZOS WHO RUNS AMAZON AMONG
OTHER DEALS AND IT APPEARS THAT
YOU MET UP WITH HIM AT THE
ALFALFA CLUB DINNER, APPROACHED
HIM AT A COCKTAIL PARTY AND SAID
HE WANTED TO MEET WITH HIM AND
HE SORT OF BRUSHED YOU OFTEN
SAID YOU COULD MEET WITH LESSER
OFFICIALS AT AMAZON.
HE HAS NOW GONE ON INSTAGRAM AND
SORT OF MOCK DO YOU COME I
TEASED YOU ABOUT THIS A LITTLE
BIT AND AMAZON HAS PUT OUT THIS
STATEMENT, MET WITH
ADMINISTRATION OFFICIALS
ADMINISTRATION OFFICIALS INCLUDING MR. NAVARRO ON
MULTIPLE OCCASIONS TO DISCUSS
OUR SHARED GOAL OF COMBATING
COUNTERFEIT GOODS ON AMAZON.
WE ARE EAGER TO CONTINUE THIS
COLLABORATION AND WILL MAKE OUR
EXECUTIVES AVAILABLE TO MEET AS
OFTEN AS NECESSARY TO
EFFECTIVELY ADDRESS THE ISSUE.
WHAT YOU WANT TO TALK TO THEM
ABOUT?
ABOUT? >> WE HAVE A HUGE PROBLEM WITH
COUNTERFEITS COMING INTO THIS
COUNTRY.
COUNTRY. I’VE BEEN RUNNING AN OPERATION
WITH CUSTOMS AND BORDER
PROTECTION FOR THE LAST SIX
MONTHS THAT SHOW AS MUCH AS 10%
OF THE PRODUCTS COMING IN FROM
CHINA BY AIR OR CONTRABAND,
COUNTERFEITS, THE OTHER HALF ARE
THINGS LIKE CONTROLLED
SUBSTANCES INCLUDING FENTANYL
AND STUFF THAT CAN REALLY HARM
OR KILL AMERICANS AND CERTAINLY
DEFRAUD THEM.
DEFRAUD THEM. E-COMMERCE IS A BIG ENABLER OF
THAT, AMAZON, SHOP OF FIVE,
ALIBABA.
ALIBABA. I’VE BEEN WORKING ON THIS, CAME
OUT WITH AN ACTION PLAN TEN DAYS
AGO WITH THE DEPARTMENT OF
HEALTH AND WE ALSO CAME OUT WITH
AN EXECUTIVE ORDER LAST WEEK
WHICH IS GOING TO POTENTIALLY
CRACKDOWN ON THE E-COMMERCE
PLATFORMS IF THEY WILL NOT TAKE
THEIR RESPONSIBILITY AND HELP
SOLVE THIS PROBLEM, SO I’VE BEEN
TALKING TO EXECUTIVES FROM ALL
OF THE COMPANIES, MET HIM ON
SATURDAY NIGHT AND HE SAID HE’D
MEET WITH ME, TOLD ME TO CALL
HIM AND I CALLED HIM AND NOW
THEY ARE BACKTRACKING AND I
THINK IT IS A SHAME THAT AMAZON
IS THE GREAT ENABLER OF
COUNTERFEITING, WON’T ACCEPT ITS
RESPONSIBILITY, SIMPLY TELLS YOU
WE ARE SPENDING A BUNCH OF MONEY
AND GOING TO TAKE CARE OF IT, IT
IS GETTING WORSE.
SHAME ON JEFF BEZOS.
>> Ed: THE PRESIDENT HAS BEEN
QUITE CRITICAL OF HIM BUT
HOPEFULLY YOU WILL SIT DOWN.
>> THIS IS ABOUT COUNTERFEITING.