High-level trade talks with China take place in DC as new tariff deadline looms


SHANNON.>>Shannon: WE ARE TRACKING THEM, TRACE GALLAGHER, THANK YOU.>>SURE.>>Shannon: A FOX NEWS AT NIGHT EXCLUSIVE, A FRESH ROUND OF HIGH-LEVEL TRADE TALKS WITH CHINA ARE TAKING PLACE IN WASHINGTON THIS WEEK AS THE DEADLINE TO IMPOSE NEW TARIFFS IS ALSO LOOMING. JOINING ME NOW, PETER NAVARRO, GREAT TO HAVE YOU WITH US TONIGHT GARY TALK ABOUT DOUBLE BIG TRADE DEALS YOU’RE HOPING TO COME TOGETHER BUT WE WILL START WITH CHINA. THERE ARE SOME WARNINGS FROM FOLKS OVERSEAS SAYING ESSENTIALLY THAT THEY ARE NOT HAPPY ABOUT THIS NEW BLACKLIST WHICH I KNOW IS VIEWED AS BEING SEPARATE FROM THE TRADE TALKS, BUT ESSENTIALLY SAYING THAT THEY AREN’T REALLY SURE SOMETHING IS GOING TO GET DONE THIS WEEK. NEGOTIATORS MAY LEAVE LEAVE A DAY EARLIER THAN PLANNED. WHAT ARE YOUR BIGGEST CONCERNS ABOUT GETTING SOMETHING SUBSTANTIVE DONE THIS WEEK?>>I THINK EVERYBODY WATCHING THE SHOW, DOUBLE ENTENDRE THERE BECAUSE I’M TALKING ABOUT THE BIGGER ONE, THE SEVEN DEADLY SINS ARE WHAT THIS IS ALL ABOUT. WHAT PRESIDENT TRUMP IS FIGHTING FOR, STANDING UP FOR CHINA AND QUICKLY IT’S THE CYBER INTRUSIONS INTO OUR BUSINESS NETWORK, INTELLECTUAL PROPERTY THEFT, THE FORCE TO TECHNOLOGY TRANSFER, THE DUMPING OF PRODUCTS, PUTTING OUT JOBS. IT’S A CURRENCY MANIPULATION, THE THING THAT’S REALLY IMPORTANT TO THIS PRESIDENT, MAYBE FENTANYL, OPIOIDS THAT WILL KILL — 50,000 BY THE END OF THE YEAR. THOSE ARE THE SEVEN VERTICALS THAT WERE IN THE ORIGINAL 150 PAGE DEAL LAST MAY THAT THE CHINESE WALKED AWAY FROM. THEY WALKED AWAY FROM THAT.>>Shannon: THAT IS A HEAVY LIFT TO GET THOSE THINGS DONE AND WITH THEM MORNING, TEMPERING OPTIMISM FOR TRADE DEAL SAYING STAY TUNED, CHINA POURING COLD WATER ON HOPES FOR TRADE DEAL SIGNALING IT WOULD RETALIATE, PUT COMPANIES ON A BLACKLIST. CURRENT TO FOREIGN MINISTRY SPOKESPERSON SAYING WE URGE THEM TO IMMEDIATELY CORRECT THE MISTAKE.>>SO HERE’S THE THING, TERMINAL LOGICALLY THIS IS NOT REALLY A TRADE WAR, IT’S NOT EVEN A TRADE DEAL. WHAT IT REALLY IS IS THE CHINESE ENGAGING IN THESE SEVEN DEADLY STRUCTURAL SINS AND FOR THIS TO HAVE A GOOD RESULT FOR THE PEOPLE OF AMERICA, WHICH DONALD TRUMP WILL INSIST ON REALLY REQUIRES A FUNDAMENTAL RESTRUCTURING OF THE CHINESE ECONOMY. IN A WAY WHICH WOULD BENEFIT THE GLOBE. IT’S REALLY UNFORTUNATE THAT THE CHINESE BACKED AWAY FROM THAT BECAUSE THAT DEAL WOULD NOT JUST HAVE BEEN GOOD FOR AMERICA, IT WOULD’VE BEEN GOOD FOR CHINA, EUROPE, THE REST OF THE WORLD. SO YOU’RE GOING TO HER A LOT OF RHETORIC FROM THE CHINESE, THEY ENJOY DOING THAT. I HAVE TWO RULES. ONE IS AMBASSADOR LIGHT HAS A RULE, THAT WE NEGOTIATE BEHIND CLOSED DOORS. THE SECOND RULE IS IF YOU HEAR ANYTHING THAT’S NOT FROM NAMED SOURCES, IT’S PROBABLY FAKE USE OF PROPAGANDA.>>Shannon: WANT TO MAKE SURE I GET TO A COUPLE MORE THINGS. YOU HAD A RATHER SPIRITED CONVERSATION ON ANOTHER NETWORK ABOUT A COUPLE OF THINGS THAT THIS PRESIDENT HAS BEEN TOO EASY — OR DO YOU THINK THIS PRESIDENT SHOULD BE TOUGHER ON THOSE ISSUES AND TWO, HAS HAD A LOT OF BACKLASH FOR PUBLICLY ASKING THEM TO LOOK INTO FORMER VICE PRESIDENT BIDEN. HOW DO YOU RESPOND TO THIS?>>LET’S TAKE THE HONG KONG ISSUE FIRST. I THINK THE PRESIDENT HAS BEEN PERFECT IN HIS TONE AND MANNER ON HONG KONG. HE SIGNALS IN A VERY MEASURED WAY TO THE CHINESE THAT THERE NEEDS TO BE A PEACEFUL OUTCOME. AT THE SAME TIME, SECRETARY POMPEO HAS BEEN VERY ELOQUENT NOT JUST ABOUT HONG KONG, BUT ABOUT WHAT HE CALLED THE WORST HUMAN RIGHTS ABUSE IN A CENTURY AGAINST THE ETHNIC MINORITIES. THERE IS 2 MILLION PEOPLE THERE IN CONCENTRATION CAMPS, SO I THINK HIS ADMINISTRATION IS VERY, VERY STRONG WITH RESPECT TO THAT THE APPROPRIATE WAY.>>Shannon: OKAY, THE PUBLIC CALLS TO INVESTIGATE VICE PRESIDENT BIDEN, SHOULD WE BE ASKING A COMMUNIST NATION TO DO THAT?>>IT’S CLEAR TO ME THAT THERE ARE IS SOME ISSUES RELATED TO THE BIDENS. THIS IS NOT REALLY MY LANE. WHAT I TRY TO DO IS CREATE — HELP THE PRESIDENT CREATE GOOD JOBS AND GOOD WAGES FOR THE MEN AND WOMEN WHO WORK WITH THEIR HANDS. WHEN THESE KINDS OF QUESTIONS COME UP, HERE’S MY ONE PIECE OF ADVICE, IT’S LISTENING TO THE SIGNAL, IGNORE THE NOISE, BECAUSE THERE’S SOMETHING VERY GOOD, I THINK VERY NOBLE ABOUT WHAT THE PRESIDENT IS DOING. I WANT TO URGE PEOPLE WHEN THEY HEAR THE WORD IMPEACHMENT FOR THESE OTHER KINDS OF THINGS, LISTEN TO THE SIGNAL, IGNORE THE NOISE.>>Shannon: LET ME ASK YOU ALSO FOR THE TRADE DEAL WE ARE TRYING TO GET DONE WITH CHINA — EXCUSE ME, WITH CANADA AND WITH MEXICO. ONE HEADLINE TODAY FROM THE “WASHINGTON EXAMINER” BECAUSE THERE ARE HOUSE DEMOCRATS MEETING WITH THE PRESIDENT OF MEXICO TRYING TO GET THIS DONE. HEADLINE SAYS DEMOCRATS REPORT LITTLE PROGRESS — WE KNOW THAT WHAT THEY’RE PRESSING FOR OUR GUARANTEES ON LABOR LAWS AND ENVIRONMENTAL CONTACT TO PROTECTION. THEY HAVE SIGNAL THEY’RE NOT GOING TO TAKE US TO A BILL. THEY CONTROL THE HOUSE FLOOR. HOW DO YOU SEE THAT COME TOGETHER?>>THE FACT OF THE MATTER IS THE USMCA IS FAR MORE IMPORTANT THAN THE CHINA DEAL. WE HAVE TWICE AS MUCH TRADE WITH CANADA AND MEXICO THAN WE DO WITH CHINA, BUT MORE IMPORTANT, SHANNON, WE HAVE FIVE TIMES MORE EXPORTS TO CANADA AND MEXICO, SO FROM THE SHEER ARC OF THE TRADE, CANADA, MEXICO, USMCA IS MORE IMPORTANT IN THE VISION OF USMCA IS TO RESTORE NORTH AMERICA AS YOU RANK TO MANUFACTURING HUB OF THE WORLD WITH THE U.S. AT THE CENTER. NANCY PELOSI HAS THE ABILITY TO MAKE THAT VISION HAPPEN. SHE’S GOT A CHOICE. IF SHE FAILS, IT WILL BE A FAILURE BOTH OF THE POLITICAL PROCESS, IT WILL BE AN ECONOMIC CATASTROPHE, SO I’M LOOKING AT CAPITOL HILL RIGHT NOW. THAT’S GOING TO BE THE LEGACY ONE WAY OR THE OTHER.>>Shannon: IT SEEMS LIKE THERE’S PLENTY OF BIPARTISAN WILL TO GET THAT DONE. WE WILL SEE.>>AND WE DON’T HAVE MUCH TIME LEFT. THIS ONLY A FEW DAYS LEFT BUT SHE’S TO GET OFF

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