TAKE THEM ON RIGHT NOW.
TAKE THEM ON WHILE YOU CAN.
FORMER ECONOMIC VICE TORE TO
PRESIDENT RONALD REAGAN, NONE
OTHER THAN ART LAFFER, SOMEONE
WHO CERTAINLY KNOWS LARRY KUDLOW
PRETTY WELL AS WELL.
HE JOINS ME NOW.
ART, GOOD TO SEE YOU.
>> GOOD TO SEE YOU.
HOW ARE YOU, TRISH?
TRISH: I'M GOOD.
I KNOW YOU DON'T LIKE TARIFFS.
I KNOW LARRY DOESN'T REALLY
TARIFFS.
TRISH: HOWEVER IT IS THE
LEVERAGE WE HAVE RIGHT NOW WITH
CHINA.
HOW IS IT THAT CHINA WHO
SUFFICIENT ISERRING
ECONOMICALLY, THEIR STOCK MARKET
IS SUFFERING, HOW IS IT THEY'RE
SAYING WE DON'T REALLY CARE?
WALK ME WITH COULD POSSIBLY GO
THROUGH CHINA'S HEAD RIGHT NOW?
>> JUST REMEMBER, I'M NOT A GOOD
ONE AT STRATEGY, TRISH, FORGIVE
ME.
THESE TYPES OF CONFLICTS ALWAYS
SCARE ME, BOTHER ME.
XI MADE A STATEMENT ALL TARIFFS
WERE BAD, AT THE HURT BOTH
BODIES, THEN HE RETALIATES WHICH
MAKES NO SENSE.
WHY DOESN'T HE SIT DOWN SAY,
LET'S TALK ABOUT WHAT THE WORLD
WOULD BE LIKE.
ZERO-BASED BUDGETING PROCESS
WHERE WE START WITH A COMPLETE
BLANK SLATE AND LET'S SIT THERE
AND LOOK WHAT WE WOULD LIKE TO
HAVE AND NOT LIKE TO HAVE.
CHINA SHOULD BE OUR BEST TRADING
PARTNER IN THE WORLD.
SERIOUS WE ARE, ART?
>> THAT MAY BE TRUE BUT HE IS
HURTING HIMSELF.
CHINA WITH ALL THEIR
PROTECTIONISTS AND ALL THEIR
POLICIES IS KILLING THE CHINESE
AS WELL.
PROTECTIONISM HURTS BOTH CHART
PIECE, TRISH.
HE SAYS THAT BUT DOESN'T RESPOND
TRISH: HE KNOWS HIS ECONOMY IS
SUFFERING.
>> WHY?
TRISH: PERHAPS HE IS NOT WILLING
TO DO ANYTHING, I WILL FLOAT
MATTER WHAT.
HE IS HOPING, THAT THIS WILL
COST US SOMETHING ECONOMICALLY
AND THEREFORE WILL COST
DONALD TRUMP AND THE REPUBLICANS
SOMETHING POLITICALLY.
WE GOT A PLAN FOR THE NEXT
COUPLE YEARS.
WE'RE SAYING RIGHT NOW, WE'RE
WE'LL WITH STAND IT BECAUSE LIFE
WILL BE PAINFUL FOR YOU GUYS
TOO.
WITH ANY LUCK IT'S PAINFUL
ENOUGH THAT THE REPUBLICAN AND
RIGHT.
THAT MAY BE HIS LOGIC ALL THE
WAY, BUT WHEN I LOOK AT XI,
PRESIDENT XI I SIT THERE AND
SAY, DONALD TRUMP GOING TO FREE
TRADE, ZERO TARIFFS, NO
BECAUSE THEY GOT FREE TRADE.
THAT IS WHAT ROCKETED CHINA INTO
PROSPERITY.
WHY WOULD THEY NOW NOT WANT TO
DO THAT AND GO BACK.
TRISH: ART, WHILE SIMULTANEOUSLY
>> BUT WHY?
IT'S HURT THEM.
TRISH IT HURTS THEM TO PUT
WE HAVEN'T THOUGHT ABOUT THAT.
>> BUT I DO THINK WE DO GOOD
LOCALLY AND THERE ARE CERTAIN
THINGS THE CHINESE MAKE BETTER
THAN WE DO.
THERE ARE SOME THINGS WE MAKE
BETTER THAN CHINA.
WE SHOULD SELL THEM BETTER FOR
THOSE THINGS WE MAKE BETTER THAN
THEY DO IN EXCHANGE THEY MAKE
BETTER THAN WE DO.
THAT IS THE GAINS FROM TRADE.
THAT IS CHINA SHOULD BE DOING.
TRISH: YOU KNOW WHAT THEY'RE
TRYING TO DO?
THEY'RE TRYING TO DO EVERYTHING
KINDS OF TECHNOLOGY LIKE WE DO
HERE.
NOW THEY'RE STEALING IT FROM US.
BOTHERED TO SAY A DARN THING.
>> TRUMP IS SAYING A LOT.
LARRY KUDLOW MAKES THIS VERY
CLEAR.
I BELIEVE THEM BOTH VERY MUCH,
WHAT I HEAR ABOUT TALING THAT,
AND I HEAR FROM BUSINESSES CHINA
IS TAKING THESE THINGS.
WE CAN'T OWN A CERTAIN
TECHNOLOGY CLEARLY THEY WOULD BE
ADVANTAGED BY HAVING FREER TRADE
RATHER THAN LESS TRADE.
THEY WOULD BE BOOMING AS A
RESULT.
THINK XI IS IN GOOD SHAPE.
TRISH: I HEAR YOU.
MY ADVICE TO LARRY AND MY ADVICE
TO THE PRESIDENT, STICK TO YOUR
GUNS, DON'T BUDGE.
>> THEY WILL STICK TO THEIR
GUNS.
BELIEVE ME, LARRY AND THE
I AM ONE, I GET ALL SCARED ON
THIS STUFF.
I WRAP MYSELF UP IN A FETAL
POSITION AND CRY.
TRISH: WE HAVE THE BEST GAME IN
TOWN.
WE'LL USE LEVERAGE WHILE WE HAVE
THE ABILITY TO DO IT.