THEY CAN SEE THAT.
THEY'RE BEING VERY SUCCESSFUL
THUS FAR IN PUTTING SERIOUS
ECONOMIC PRESSURE ON NORTH
KOREA.
JOINING US NOW CENTRAL ALUMINUM
CEO MIKE LESS.
PRESIDENT TRUMP TALKED ABOUT
THE IMPORTANCE OF TRADE, IN
FACT.
HE SAID THE ERA OF ECONOMIC
SURROUND SER OVER.
ONE OF THE CENTRAL AREAS HE'S
FOCUSED ON WITH RESPECT TO THE
BAD TRADE DEALS IS THE DUMPING
OF ALUMINUM AND STEEL NATIONS
LIKE CHINA.
LAST TIME HE TALKED ABOUT THIS,
SHARES OF STEEL AND ALUMINUM
WENT THROUGH THE ROOF?
>> THE WORLD'S TOUGHEST ACT TO
FOLLOW.
WE COULDN'T HAVE SAID IT BETTER
OURSELVES.
THE DAY YOU ARE REFERRING TO
LAST FRIDAY, THE COMMERCE
SECRETARY TALKED ABOUT THE
REPORT SENT TO THE PRESIDENT A
COUPLE WEEKS AGO.
THE PRESIDENT FOUND EXACTLY
WHAT WE'VE BEEN TALKING ABOUT
HERE.
NOT ABOUT FREE TRADE OR UNFREE
TRADE, IT'S ABOUT THE CHEATING
AND MARTHA, BUSES IN COUNTRIES
LIKE THE PERSIAN GULF AND
RUSSIA WHERE ENORMOUS AMOUNT OF
ALUMINUM IS OWNED BY THE STATE.
THEY SUBSIDIZE ALUMINUM
INDUSTRY AND EXCESS ENDS UP
RIGHT HERE ON THE SHORES AND
DECIMATED THIS INDUSTRY.
THAT'S WHAT WE'RE TRYING TO DO
TO GET THE INDUSTRY BACK ON ITS
FEET.
>> YET IN THAT ROOM, PRESIDENT
TRUMP TOOK ENORMOUS AMOUNT OF
PUSHBACK FROM ELECTED OFFICIALS
IN STATES WHERE YOU WOULD THINK
WE WOULD WANT TO BRING BACK THE
FACTORY AND MANUFACTURING JOBS.
WHAT'S THE DEAL WITH THE
ELECTED OFFICIAL, SENATORS AND
CONGRESSMAN, WHO DON'T SEE WHAT
YOU JUST SAID?
.
>> THAT'S A GREAT QUESTION.
I CAN'T ANSWER IT.
SOME OF THE ARGUMENTS THAT YOU
HEAR HERE ARE THAT IT MIGHT
HAVE IMPACT ON PRICES
DOWNSTREAM, RIGHT?
IF WE PUT A TARIFF, 7.7% TARIFF
THAT'S ONE OF THE TARIFFS THE
SECRETARY RECOMMENDED.
WE MIGHT SEE IMPACT DOWNSTREAM.
WHEN ALUMINUM CRASHED 40%, THE
PRICE OF YOUR BEER CAN OR CAR
OR AIRPLANE DIDN'T GO DOWN.
LET ME GIVE YOU EXAMPLE.
IF THE TARIFF WAS TRANSLATED
INTO THE FINAL PRICE OF THE
MOTOR CAR, YOU WOULD BE TALKING
ABOUT $35 INCREASE IN $35,000
CAR.
PENNY IN A SIX PACK OF BEER.
A LOT OF THE ELECTED OFFICIALS
HEAR THAT.
SOME OF THE HYSTERIA IT'S GOING
TO RAISE PRICES AND REACT TO
IT.
>> SO AGAIN, IF THIS IS
KNOWLEDGE AND OBVIOUSLY HAVE A
STAFF --
>> CAN'T COMMENT ON THE POLICY,
CHARLES, WISH I COULD.
>> THE LACK OF POLITICAL WILL
THAT IS SEEING MANUFACTURING
JOBS GO FROM 19 MILLION TO 12
MILLION.
>> HERE'S WHY WE'RE ENTHUSED
AND TALK TO INVESTORS
YESTERDAY.
HERE'S WHY WE'RE READY TO BRING
BACK 350, MOSTLY U.S.
STEELWORKER JOBS IN KENTUCKY AT
A PLANT THAT IS THE ONLY
PRODUCER OF THE HIGH-PURITY
LEVEL.
THE REASON WE ARE ENTHUSED, GOT
A LEADER OF ADMINISTRATION THAT
IS WILLING TO DO SOMETHING
ABOUT THIS.
HE SEES THE FACTS, HE'S GOING
TO DO IT.
>> TWO SMELT ZERS IN KENTUCKY,
YOU BROUGHT UP THE D.O.D.
THE TARIFF ACT OF 1930 SECTION
THAT ALLOWS FOR ACTION BY
EXECUTIVE BRANCH BASED ON THE
MILITARY THREAT OR THE DEFENSE
CAPABILITIES OF OUR NATION.
IS THAT A LEGITIMATE OPTION FOR
PRESIDENT TRUMP IN YOUR MIND?
>> I DON'T KNOW, THIS IS UNDER
232, IT'S MUCH BROADER.
NATIONAL INTEREST AND THE
NATIONAL SECURITY IS BROADLY
DEFINED THAT INCLUDES D.O.D.
BUT SAYS IN THE REPORT DO WE
WANT OUR ELECTRICAL GRID TO BE
DEPENDENT ON 100% FOREIGN
IMPORTS.
RIGHT NOW AT 90 PVMS THE
INDUSTRY HAS GONE FROM 66 TO
90%.
DO WE WANT ELECTRICAL GRID?
CLEARLY THE D.O.D., IT'S MUCH
BROADER THAN THE OLDER ACT THAT
YOU REFERRED.
>> TARIFFS, WILBUR ROSS HAD
MUCH BIGGER NUMBERS FOR CHINA.
>> HE DID INDEED.
>> THEY'RE NOT IN THE TOP TEN,
WHY NOT PENALIZE THE COUNTRIES
THAT WE HAVE FRIENDLIER TRADE
DEALS WITH?
CHINA ISN'T IN THE TOP TEN ON
PRIMARY ALUMINUM.
THEY EXPORT SEMI FINISHED
PRODUCTS THAT END UP IN THE
COUNTRY ANYWAY.
ONLY REASON THE PRIMARY ISN'T
COMING OUT OF THERE IS BECAUSE
OF THE TAXATION REGIME.
ANY OF THE ALTERNATIVES
PROPOSED WORK OR ALTERNATIVE
THAT ACCOMPLISHES THE SAME