Stocks Plummet As Donald Trump Escalates Trade War With China, Attacks Fed Chair | Hardball | MSNBC

Stocks Plummet As Donald Trump Escalates Trade War With China, Attacks Fed Chair | Hardball | MSNBC


>>>GOOD EVENING.>>>GOOD EVENING. I’M CHRIS MATTHEWS IN I’M CHRIS MATTHEWS IN WASHINGTON. WASHINGTON. PRESIDENT TRUMP IS ROILING PRESIDENT TRUMP IS ROILING FINANCIAL MARKETS TODAY AROUND FINANCIAL MARKETS TODAY AROUND THE WORLD, ESCALATING HIS TRADE THE WORLD, ESCALATING HIS TRADE WAR WITH CHINA AND ATTACKING THE WAR WITH CHINA AND ATTACKING THE CHAIR OF THE FEDERAL RESERVE. CHAIR OF THE FEDERAL RESERVE. ALL THIS AS HE HEADS OFF TO ALL THIS AS HE HEADS OFF TO HERALD THE STRENGTHS OF THE U.S. HERALD THE STRENGTHS OF THE U.S. ECONOMY AT THE G-7 SUMMIT THIS ECONOMY AT THE G-7 SUMMIT THIS WEEKEND IN FRANCE. WEEKEND IN FRANCE. RESPONDING TO A RETALIATORY MOVE RESPONDING TO A RETALIATORY MOVE BY CHINA EARLIER TODAY, THE BY CHINA EARLIER TODAY, THE PRESIDENT TONIGHT DECLARED HE’S PRESIDENT TONIGHT DECLARED HE’S HIKING TARIFFS ON BEIJING, HIKING TARIFFS ON BEIJING, RAISING EXISTING RATES AS WELL RAISING EXISTING RATES AS WELL AS THOSE SET TO KICK IN NEXT AS THOSE SET TO KICK IN NEXT MONTH. MONTH. IT COMES AFTER CHINA ANNOUNCED IT COMES AFTER CHINA ANNOUNCED THIS MORNING THEY’RE IMPOSING A THIS MORNING THEY’RE IMPOSING A NEW ROUND OF TARIFFS ON $75 NEW ROUND OF TARIFFS ON $75 BILLION WORTH OF AMERICAN GOODS. BILLION WORTH OF AMERICAN GOODS. THE NEWS WAS MET WITH OUTRAGE AT THE NEWS WAS MET WITH OUTRAGE AT THE WHITE HOUSE WHERE THE THE WHITE HOUSE WHERE THE PRESIDENT TOOK TO TWITTER AND PRESIDENT TOOK TO TWITTER AND ATTEMPTED TO ORDER ALL AMERICAN ATTEMPTED TO ORDER ALL AMERICAN COMPANIES TO CUT THEIR TIES WITH COMPANIES TO CUT THEIR TIES WITH CHINA. CHINA. ALL AMERICAN COMPANIES. ALL AMERICAN COMPANIES. NO MORE TRADE WITH CHINA. NO MORE TRADE WITH CHINA. OF COURSE, THAT’S RIDICULOUS. OF COURSE, THAT’S RIDICULOUS. TRUMP TWEETED WE DON’T NEED TRUMP TWEETED WE DON’T NEED CHINA AND FRANKLY WE WOULD BE CHINA AND FRANKLY WE WOULD BE BETTER OFF WITHOUT THEM. BETTER OFF WITHOUT THEM. OUR GREAT AMERICAN COMPANIES ARE OUR GREAT AMERICAN COMPANIES ARE HEREBY ORDERS TO IMMEDIATELY HEREBY ORDERS TO IMMEDIATELY START LOOKING FOR AN ALTERNATIVE START LOOKING FOR AN ALTERNATIVE TO CHINA INCLUDING BRINGING YOUR TO CHINA INCLUDING BRINGING YOUR COMPANIES HOME AND MAKING YOUR COMPANIES HOME AND MAKING YOUR PRODUCTS IN THE USA. PRODUCTS IN THE USA. THAT’S THE PRESIDENT THIS THAT’S THE PRESIDENT THIS MORNING TRUMPETING POWERS HE MORNING TRUMPETING POWERS HE DOESN’T POSZ. DOESN’T POSZ. HOWEVER, “THE WASHINGTON POST” HOWEVER, “THE WASHINGTON POST” POINTS OUT THE WHITE HOUSE DOES POINTS OUT THE WHITE HOUSE DOES NOT HAVE THE AUTHORITY TO FORCE NOT HAVE THE AUTHORITY TO FORCE COMPANIES TO FOLLOW SUCH COMPANIES TO FOLLOW SUCH DIRECTIVES AS THAT. DIRECTIVES AS THAT. ACCORDING TO THE CENSUS BUREAU, ACCORDING TO THE CENSUS BUREAU, THE UNITED STATES HAS $380 THE UNITED STATES HAS $380 BILLION TRADE DEFICIT WITH CHINA BILLION TRADE DEFICIT WITH CHINA IN 2018. IN 2018. A DEFICIT THAT APPEARS TO BE A DEFICIT THAT APPEARS TO BE INCREASING THIS YEAR. INCREASING THIS YEAR. TRUMP’S TWEETING IGNITED A TRUMP’S TWEETING IGNITED A SELLOFF ON WALL STREET. SELLOFF ON WALL STREET. THE DOW THAT HAD BEEN IN THE DOW THAT HAD BEEN IN POSITIVE TERRITORY, PLUNGED AND POSITIVE TERRITORY, PLUNGED AND WENT DOWN 623 POINTS IN ONE DAY. WENT DOWN 623 POINTS IN ONE DAY. IT REMAINS NEAR ITS AVERAGE FOR IT REMAINS NEAR ITS AVERAGE FOR THE SUMMER. THE SUMMER. EARLIER TODAY, THE PRESIDENT EARLIER TODAY, THE PRESIDENT APPEARED TO JOKE ABOUT THE APPEARED TO JOKE ABOUT THE MARKET’S DECLINE, SAYING THE DOW MARKET’S DECLINE, SAYING THE DOW IS DOWN, PERHAPS ON THE NEWS IS DOWN, PERHAPS ON THE NEWS THAT REPRESENTATIVE SETH MOULTON THAT REPRESENTATIVE SETH MOULTON MOULTON, HOWEVER THAT MAY BE, MOULTON, HOWEVER THAT MAY BE, HAS DROPPED OUT OF THE 2020 HAS DROPPED OUT OF THE 2020 PRESIDENTIAL RACE. PRESIDENTIAL RACE. WHAT A CARD. WHAT A CARD. ALL THIS COMES AFTER FED CHAIR ALL THIS COMES AFTER FED CHAIR JEROME POWELL SAID THIS MORNING JEROME POWELL SAID THIS MORNING THE TRADE POLICY UNCERTAINTY THE TRADE POLICY UNCERTAINTY SEEMS TO BE PLAYING A ROLE IN SEEMS TO BE PLAYING A ROLE IN THE GLOBAL SLOWDOWN. THE GLOBAL SLOWDOWN. HIS SPEECH, WHICH WAS INTENDED HIS SPEECH, WHICH WAS INTENDED TO REASSURE MARKETS, INSTEAD TO REASSURE MARKETS, INSTEAD PROMPTED AN ATTACK FROM THE PROMPTED AN ATTACK FROM THE PRESIDENT. PRESIDENT. QUOTE, AS USUAL, THE FED DID QUOTE, AS USUAL, THE FED DID NOTHING. NOTHING. IT IS INCREDIBLE THAT THEY CAN IT IS INCREDIBLE THAT THEY CAN SPEAK WITHOUT KNOWING OR ASKING SPEAK WITHOUT KNOWING OR ASKING WHAT I AM DOING. WHAT I AM DOING. WHICH WILL BE ANNOUNCED SHORTLY. WHICH WILL BE ANNOUNCED SHORTLY. WE HAVE A VERY STRONG DOLLAR AND WE HAVE A VERY STRONG DOLLAR AND A VERY WEAK FED. A VERY WEAK FED. AND THEN IN A STUNNING MOVE, THE AND THEN IN A STUNNING MOVE, THE PRESIDENT ADDED, MY ONLY PRESIDENT ADDED, MY ONLY QUESTION IS, WHO IS OUR BIGGER QUESTION IS, WHO IS OUR BIGGER ENEMY, JAY POWELL OR CHAIRMAN XI ENEMY, JAY POWELL OR CHAIRMAN XI OF CHINA? OF CHINA? I’M JOINED BY BEN RHODES, FORMER I’M JOINED BY BEN RHODES, FORMER DEPUTY NATIONAL SECURITY ADVISER DEPUTY NATIONAL SECURITY ADVISER TO PRESIDENT OBAMA. TO PRESIDENT OBAMA. JILL CORBEN, AND MICHAEL FROMAN, JILL CORBEN, AND MICHAEL FROMAN, A FORMER U.S. TRADE REP IN THE A FORMER U.S. TRADE REP IN THE OBAMA ADMINISTRATION. OBAMA ADMINISTRATION. THIS IS GOING TO BE VERY THIS IS GOING TO BE VERY POWERFUL. POWERFUL. LET’S TALK ABOUT — I’M A BIG LET’S TALK ABOUT — I’M A BIG BELIEVER THAT THE TRADE DEFICIT BELIEVER THAT THE TRADE DEFICIT WITH CHINA HAS TO BE DEALT WITH WITH CHINA HAS TO BE DEALT WITH BECAUSE CHINA KEEPS MAKING MONEY BECAUSE CHINA KEEPS MAKING MONEY OFF US, WHICH THEY DO BY SELLING OFF US, WHICH THEY DO BY SELLING US GREAT GOODS, NO DOUBT ABOUT US GREAT GOODS, NO DOUBT ABOUT IT, WE LOVE THEIR STUFF. IT, WE LOVE THEIR STUFF. ESPECIALLY THEIR COTTON GOODS ESPECIALLY THEIR COTTON GOODS AND ALL THAT STUFF, BUT THEY USE AND ALL THAT STUFF, BUT THEY USE ALL THAT EXCHANGE THEY BET FROM ALL THAT EXCHANGE THEY BET FROM US TO BUY THE REST OF THE WORLD, US TO BUY THE REST OF THE WORLD, ESPECIALLY AFRICA. ESPECIALLY AFRICA. I DON’T LIKE IT, BEN. I DON’T LIKE IT, BEN. YOUR THOUGHTS ABOUT WHAT SHOULD YOUR THOUGHTS ABOUT WHAT SHOULD WE BE DOING IF NOT THIS? WE BE DOING IF NOT THIS? BUT LET’S START WITH TRUMP. BUT LET’S START WITH TRUMP. WHAT’S HE DOING? WHAT’S HE DOING? WHAT’S HE UP TO? WHAT’S HE UP TO?>>THE PROBLEM IS HE DOESN’T>>THE PROBLEM IS HE DOESN’T REALLY KNOW WHAT HE’S DOING, REALLY KNOW WHAT HE’S DOING, CHRIS. CHRIS. HE’S GOTTEN INTO THIS, AND THE HE’S GOTTEN INTO THIS, AND THE ONLY PLAY HE’S HAD IS TO ONLY PLAY HE’S HAD IS TO ESCALATE THIS TRADE WAR WITH THE ESCALATE THIS TRADE WAR WITH THE CHINESE. CHINESE. I DON’T THINK ANYBODY KNOWS I DON’T THINK ANYBODY KNOWS WHERE THIS IS LEADING. WHERE THIS IS LEADING. AND THE CHINESE HAVE CLEARLY AND THE CHINESE HAVE CLEARLY DECIDED TO DIG IN AND TO MATCH DECIDED TO DIG IN AND TO MATCH HIM MOVE FOR MOVE. HIM MOVE FOR MOVE. AND THE RISK IS THAT HE’S NOT AND THE RISK IS THAT HE’S NOT ONLY RAISING PRICES ON ONLY RAISING PRICES ON AMERICANS, HURTING AMERICAN AMERICANS, HURTING AMERICAN SECTORS LIKE THE AGRICULTURAL SECTORS LIKE THE AGRICULTURAL SECTOR, BUT HE’S DRAGGING DOWN SECTOR, BUT HE’S DRAGGING DOWN THE ENTIRE GLOBAL ECONOMY. THE ENTIRE GLOBAL ECONOMY. THE WAY TO DO THIS, IF YOU THE WAY TO DO THIS, IF YOU WANTED TO STAND UP TO CHINA’S WANTED TO STAND UP TO CHINA’S UNFAIR TRADE PRACTICES, IF YOU UNFAIR TRADE PRACTICES, IF YOU WANTED TO STAND UP FOR AMERICAN WANTED TO STAND UP FOR AMERICAN WORKERS AND BUSINESSES, IS NOT WORKERS AND BUSINESSES, IS NOT TO ALIENATE THE UNITED STATES TO ALIENATE THE UNITED STATES FROM THE REST OF THE WORLD AND FROM THE REST OF THE WORLD AND TAKE ON THE CHINESE ALONE. TAKE ON THE CHINESE ALONE. IT WOULD BE TO RALLY ALL OF OUR IT WOULD BE TO RALLY ALL OF OUR ALLIES, THE PEOPLE HE’S SEEING ALLIES, THE PEOPLE HE’S SEEING AT THE G MF 7, THE COUNTRIES WE AT THE G MF 7, THE COUNTRIES WE NEGOTIATED WITH, THAT MIKE NEGOTIATED WITH, THAT MIKE FROMAN NEGOTIATED WITH, SO WE FROMAN NEGOTIATED WITH, SO WE HAVE A UNITED FRONT WITH OTHER HAVE A UNITED FRONT WITH OTHER COUNTRIES TO GO TO THE CHINESE COUNTRIES TO GO TO THE CHINESE AND SAY YOU NEED TO CUT OUT YOUR AND SAY YOU NEED TO CUT OUT YOUR THEFT OF INTELLECTUAL PROPERTY. THEFT OF INTELLECTUAL PROPERTY.>>HAS — BEN, HAS ANYONE BEEN>>HAS — BEN, HAS ANYONE BEEN ABLE TO DO THAT, GET THE WORLD ABLE TO DO THAT, GET THE WORLD TO TAKE ON CHINA, BECAUSE TO TAKE ON CHINA, BECAUSE THEY’RE THE BIG MONSTER? THEY’RE THE BIG MONSTER? HAS ANY PRESIDENT, INCLUDING HAS ANY PRESIDENT, INCLUDING OBAMA, BEEN ABLE TO DO THAT? OBAMA, BEEN ABLE TO DO THAT?>>WELL, CHRIS, UNFORTUNATELY,>>WELL, CHRIS, UNFORTUNATELY, WE WERE BUILDING UP TO THAT TYPE WE WERE BUILDING UP TO THAT TYPE OF CAPACITY. OF CAPACITY. THE TRADE AGREEMENT THAT WE THE TRADE AGREEMENT THAT WE NEGOTIATED, THE TRANSPACIFIC NEGOTIATED, THE TRANSPACIFIC PARTNERSHIP, WITH A NUMBER OF PARTNERSHIP, WITH A NUMBER OF THE LEADING ASIA PACIFIC THE LEADING ASIA PACIFIC ECONOMIES, WAS MEANT TO GIVE ECONOMIES, WAS MEANT TO GIVE PRESIDENT OF THE UNITED STATES PRESIDENT OF THE UNITED STATES GREATER LEVERAGE FOR THAT TYPE GREATER LEVERAGE FOR THAT TYPE OF CONFRONTATION. OF CONFRONTATION. I THINK WHAT YOU NEED TO DO — I THINK WHAT YOU NEED TO DO –>>YOU’RE SO RIGHT.>>YOU’RE SO RIGHT. BUT HILLARY WOULDN’T GO ALONG BUT HILLARY WOULDN’T GO ALONG WITH IT. WITH IT.>>THAT WAS A MISTAKE BY>>THAT WAS A MISTAKE BY HILLARY. HILLARY. AND FRANKLY, I THINK THE AND FRANKLY, I THINK THE DEMOCRATS HAVE TO LEARN, TOO, DEMOCRATS HAVE TO LEARN, TOO, CHRIS, LOOK, IT’S NOT JUST ABOUT CHRIS, LOOK, IT’S NOT JUST ABOUT FREE TRADE. FREE TRADE. IT’S ABOUT TRADE AGREEMENTS THAT IT’S ABOUT TRADE AGREEMENTS THAT CAN WORK FOR AMERICAN BUSINESSES CAN WORK FOR AMERICAN BUSINESSES AND WORKERS. AND WORKERS. TRADE AGREEMENTS THAT ARE MORE TRADE AGREEMENTS THAT ARE MORE PROGRESSIVE. PROGRESSIVE. IF VOTERS ARE LOOKING FOR IF VOTERS ARE LOOKING FOR SOMEONE WHOS’S GOING TO TEAR UP SOMEONE WHOS’S GOING TO TEAR UP TRADE AGREEMENTS, THEY THAT HAVE TRADE AGREEMENTS, THEY THAT HAVE IN DONALD TRUMP. IN DONALD TRUMP. I THINK DEMOCRATS CAN AFFORD A I THINK DEMOCRATS CAN AFFORD A DIFFERENT ALLEY. DIFFERENT ALLEY.>>BEN, YOU’RE THE BEST.>>BEN, YOU’RE THE BEST. I’M NOT GETTING INTO THE CLINTON I’M NOT GETTING INTO THE CLINTON WAR BECAUSE THERE WAS AN WAR BECAUSE THERE WAS AN INTERESTING WAR, BECAUSE BILL INTERESTING WAR, BECAUSE BILL CLINTON, I WAS IN TOKYO WHEN HE CLINTON, I WAS IN TOKYO WHEN HE SAID HE THOUGHT IT WAS A SAID HE THOUGHT IT WAS A FABULOUS AGREEMENT, THE TTP. FABULOUS AGREEMENT, THE TTP. AND YOU KNOW POLITICS IN THIS AND YOU KNOW POLITICS IN THIS COUNTRY. COUNTRY. HILLARY CAME OUT AGAINST IT. HILLARY CAME OUT AGAINST IT. I KNOW HOW POLITICS WORK. I KNOW HOW POLITICS WORK. LET’S GO TO YOU. LET’S GO TO YOU. YOU’RE WITH THE ASSOCIATED YOU’RE WITH THE ASSOCIATED PRESS. PRESS. TELL ME, DOES TRUMP JUST GET TELL ME, DOES TRUMP JUST GET PETULANT? PETULANT? OR DOES HE HAVE A STRATEGY TO OR DOES HE HAVE A STRATEGY TO REALLY TAKE ON CHINA? REALLY TAKE ON CHINA? SOMEBODY HAS TO TAKE ON CHINA. SOMEBODY HAS TO TAKE ON CHINA.>>THE PRESIDENT HAS BEEN SAYING>>THE PRESIDENT HAS BEEN SAYING NOW FOR DECADES CHINA HAS BEEN NOW FOR DECADES CHINA HAS BEEN RIPPING THE U.S. OFF. RIPPING THE U.S. OFF.>>THEY ARE.>>THEY ARE.>>AS HE STOOD THERE AS WE SAW>>AS HE STOOD THERE AS WE SAW ON THE SOUTH LAWN AND SUMMONED ON THE SOUTH LAWN AND SUMMONED THE SKY AND SAID HE HAD BEEN THE SKY AND SAID HE HAD BEEN APPOINTED, HE WAS THE CHOSEN ONE APPOINTED, HE WAS THE CHOSEN ONE TO TAKE ON CHINA. TO TAKE ON CHINA. HE DOES FEEL LIKE CHINA IS HE DOES FEEL LIKE CHINA IS RIPPING US OFF. RIPPING US OFF.>>DOES ANYONE DISAGREE WITH>>DOES ANYONE DISAGREE WITH THAT PREMISE THAT SOMEBODY HAS THAT PREMISE THAT SOMEBODY HAS TO DO IT? TO DO IT?>>I THINK THAT’S A PRETTY –>>I THINK THAT’S A PRETTY — EVEN AS THE TPP AGREEMENT WAS EVEN AS THE TPP AGREEMENT WAS TRYING TO ADDRESS, ABSOLUTELY. TRYING TO ADDRESS, ABSOLUTELY. AND SO HE BELIEVED HE IS THE ONE AND SO HE BELIEVED HE IS THE ONE TO DO THIS, AND THAT IT MAKES TO DO THIS, AND THAT IT MAKES SENSE FOR HIM TO RISK SOME SENSE FOR HIM TO RISK SOME POTENTIAL ECONOMIC HARDSHIP IN POTENTIAL ECONOMIC HARDSHIP IN ORDER TO GET THAT DONE, IN ORDER ORDER TO GET THAT DONE, IN ORDER TO SEEM STRONG, BUT THE PROBLEM TO SEEM STRONG, BUT THE PROBLEM IS THE WAY HE’S BEEN DOING THIS IS THE WAY HE’S BEEN DOING THIS HAS CREATED THE ECONOMIC RIPPLE HAS CREATED THE ECONOMIC RIPPLE EFFECTS ACROSS THE GLOBE THAT EFFECTS ACROSS THE GLOBE THAT REALLY ARE NOW THREATENING HIS REALLY ARE NOW THREATENING HIS RE-ELECTION CHANCES. RE-ELECTION CHANCES.>>EARLIER THIS MORNING, PETER>>EARLIER THIS MORNING, PETER NAVARRO SAID CHINA’S LATEST NAVARRO SAID CHINA’S LATEST ROUND OF TARIFFS SHOULDN’T ROUND OF TARIFFS SHOULDN’T AFFECT FINANCIAL MARKETS. AFFECT FINANCIAL MARKETS.>>$75 BILLION WORTH OF TARIFFS>>$75 BILLION WORTH OF TARIFFS IN TERMS OF, WHAT, THE COMBINED IN TERMS OF, WHAT, THE COMBINED $30 TRILLION ECONOMY IS NOT $30 TRILLION ECONOMY IS NOT SOMETHING FOR THE STOCK MARKET SOMETHING FOR THE STOCK MARKET TO WORRY ABOUT. TO WORRY ABOUT. AND WE’RE COOL HERE. AND WE’RE COOL HERE.>>HOW CAN YOU BEAT THE CHINESE?>>HOW CAN YOU BEAT THE CHINESE? IT’S A COMMAND ECONOMY. IT’S A COMMAND ECONOMY. A COMMAND SOCIETY. A COMMAND SOCIETY. XI IS THE BOSS. XI IS THE BOSS. HE CAN DO THIS STUFF THAT TRUMP HE CAN DO THIS STUFF THAT TRUMP THINKS HE CAN DO. THINKS HE CAN DO. TELL AMERICAN COMPANIES THEY TELL AMERICAN COMPANIES THEY CAN’T TRADE WITH CHINA. CAN’T TRADE WITH CHINA. HOW DO YOU BEAT THEM? HOW DO YOU BEAT THEM?>>I THINK YOU ORGANIZE ALL YOUR>>I THINK YOU ORGANIZE ALL YOUR LIKE-MINDED COMPANIES. LIKE-MINDED COMPANIES. EUROPE, JAPAN, MAJOR EMERGING EUROPE, JAPAN, MAJOR EMERGING ECONOMIES TO PUT PRESSURE ON ECONOMIES TO PUT PRESSURE ON CHINA ON ISSUES THAT ARE OUT CHINA ON ISSUES THAT ARE OUT THERE, INCLUDING OVERCAPACITY. THERE, INCLUDING OVERCAPACITY. THAT’S WHAT WE WERE DOING AT THE THAT’S WHAT WE WERE DOING AT THE END OF THE OBAMA ADMINISTRATION. END OF THE OBAMA ADMINISTRATION. YOU ORGANIZE THE COUNTRIES IN YOU ORGANIZE THE COUNTRIES IN THE REGION TO SET HIGHER THE REGION TO SET HIGHER STANDARDS AND RULES FOR TRADE STANDARDS AND RULES FOR TRADE THAT CHINA WILL BE FORCED TO THAT CHINA WILL BE FORCED TO COMPETE WITH, AND YOU USE ALL COMPETE WITH, AND YOU USE ALL THE TOOLS AT YOUR DISPOSAL TO THE TOOLS AT YOUR DISPOSAL TO HOLD CHINA FOR ACCOUNT. HOLD CHINA FOR ACCOUNT.>>YOU THINK CHINA CAN BE BEATEN>>YOU THINK CHINA CAN BE BEATEN IN THIS WAR? IN THIS WAR? THE WAY THEY’RE GOING, THEY WILL THE WAY THEY’RE GOING, THEY WILL BEAT US. BEAT US.>>I THINK THEY HAVE A STRATEGY>>I THINK THEY HAVE A STRATEGY THEY’RE EXECUTING ON WELL. THEY’RE EXECUTING ON WELL. I THINK IT’S IMPORTANT FOR US TO I THINK IT’S IMPORTANT FOR US TO ALSO HAVE A STRATEGY, INCLUDING ALSO HAVE A STRATEGY, INCLUDING A DOMESTIC STRATEGY AROUND A DOMESTIC STRATEGY AROUND INVESTING AND RESEARCH AND INVESTING AND RESEARCH AND TECHNOLOGY, LIFELONG LEARNING, TECHNOLOGY, LIFELONG LEARNING, ALL THE THINGS WE NEED, WHETHER ALL THE THINGS WE NEED, WHETHER IT’S TRADE OR TECHNOLOGY, THAT’S IT’S TRADE OR TECHNOLOGY, THAT’S GOING TO AFFECT THE AMERICAN GOING TO AFFECT THE AMERICAN WORKER. WORKER. WE HAVE TO MAKE SURE THE AMERICA WE HAVE TO MAKE SURE THE AMERICA AMERICAN WORKER CAN SUCCEED. AMERICAN WORKER CAN SUCCEED.>>ARE WE BETTER THAN THEY IN>>ARE WE BETTER THAN THEY IN INNOVATION? INNOVATION? CAN WE WIN THAT WAR? CAN WE WIN THAT WAR? WE CAN’T WIN IN POPULATION. WE CAN’T WIN IN POPULATION. THEY OUTPOPULATE US. THEY OUTPOPULATE US.>>WE HAVE GREAT UNIVERSITIES.>>WE HAVE GREAT UNIVERSITIES.>>MOST OF THE GREAT>>MOST OF THE GREAT UNIVERSITIES ARE HERE. UNIVERSITIES ARE HERE.>>WE’RE A LEADER IN INNOVATION,>>WE’RE A LEADER IN INNOVATION, BUT THEY’RE ALSO CATCHING UP BUT THEY’RE ALSO CATCHING UP QUITE A BIT IN A NUMBER OF QUITE A BIT IN A NUMBER OF AREAS. AREAS. ACCORDING TO SOME, AHEAD OF US ACCORDING TO SOME, AHEAD OF US IN SOME AREAS. IN SOME AREAS. WE SHOULDN’T BE COMPLACENT ABOUT WE SHOULDN’T BE COMPLACENT ABOUT IT. IT. WE HAVEN’T INVESTED IN THE SAME WE HAVEN’T INVESTED IN THE SAME WAY DOMESTICALLY AS THEY HAVE. WAY DOMESTICALLY AS THEY HAVE.>>WHY DON’T WE BUY ANYTHING>>WHY DON’T WE BUY ANYTHING FROM VIETNAM? FROM VIETNAM?>>WE ARE BUYING A CERTAIN>>WE ARE BUYING A CERTAIN AMOUNT. AMOUNT.>>WOULDN’T THAT SCREW THE>>WOULDN’T THAT SCREW THE CHINESE IF WE SAID WE’RE GOING CHINESE IF WE SAID WE’RE GOING TO BUY STUFF FROM VIETNAM NOW? TO BUY STUFF FROM VIETNAM NOW?>>CHINA IS THE SECOND LARGEST>>CHINA IS THE SECOND LARGEST ECONOMY, THE FIRSTEST LARGEST ECONOMY, THE FIRSTEST LARGEST CONSUMER ECONOMY. CONSUMER ECONOMY. IT’S IMPORTANT FOR OUR WORKERS IT’S IMPORTANT FOR OUR WORKERS AND FARMERS TO HAVE ACCESS TO AND FARMERS TO HAVE ACCESS TO THAT MARKET. THAT MARKET. GETTING MARKET ACCESS, LEVELING GETTING MARKET ACCESS, LEVELING THE PLAYING FIELD, HAVING FAIR THE PLAYING FIELD, HAVING FAIR TRADE WITH THEM IS IMPORTANT. TRADE WITH THEM IS IMPORTANT. I THINK THE PRESIDENT HAS I THINK THE PRESIDENT HAS CREATED A CERTAIN AMOUNT OF CREATED A CERTAIN AMOUNT OF LEVERAGE IN HIS INITIAL LEVERAGE IN HIS INITIAL THREATENING OF PUTTING TARIFFS THREATENING OF PUTTING TARIFFS ON. ON. YOU HAVE TO TRANSLATE TO ACTUAL YOU HAVE TO TRANSLATE TO ACTUAL AGREEMENTS. AGREEMENTS. THAT’S THE HARD PART. THAT’S THE HARD PART. IT’S EASY TO IMPOSE TARIFFS. IT’S EASY TO IMPOSE TARIFFS. IT’S HARD TO TAKE THEM OFF. IT’S HARD TO TAKE THEM OFF. ONCE TARIFFS ARE IN PLACE FOR A ONCE TARIFFS ARE IN PLACE FOR A WHILE, PEOPLE GET USED TO THEM. WHILE, PEOPLE GET USED TO THEM.>>LET ME GET BACK TO BEN.>>LET ME GET BACK TO BEN. I THINK WE OUGHT TO FIGHT WITH I THINK WE OUGHT TO FIGHT WITH CHINA. CHINA. TRUMP MAY BE DOING IT THE WRONG TRUMP MAY BE DOING IT THE WRONG WAY. WAY. THE CULTURE IS SO LONG TERM. THE CULTURE IS SO LONG TERM. THEIR INDIFFERENCE CURVE IS SO THEIR INDIFFERENCE CURVE IS SO LONG. LONG. THEY’LL TAKE EONS TO GET WHAT THEY’LL TAKE EONS TO GET WHAT THEY WANT TO GET. THEY WANT TO GET. LET ME ASK YOU ABOUT A FIGHT LET ME ASK YOU ABOUT A FIGHT THAT SEEMS TO BE STUPID. THAT SEEMS TO BE STUPID. WHY IS HE ATTACKING HIS FED WHY IS HE ATTACKING HIS FED CHAIRMAN SO PUBLICLY? CHAIRMAN SO PUBLICLY? DOES HE THINK HE CAN GET LOWER DOES HE THINK HE CAN GET LOWER RATES AND HELP THE ECONOMY GET RATES AND HELP THE ECONOMY GET SOME MORE SOUP IN IT IF HE JUST SOME MORE SOUP IN IT IF HE JUST BASHES THIS GUY EVERY DAY ON BASHES THIS GUY EVERY DAY ON TELEVISION? TELEVISION?>>NO, CHRIS.>>NO, CHRIS. HERE’S WHAT I THINK IS GOING ON. HERE’S WHAT I THINK IS GOING ON. RIGHT. RIGHT. WE ARE POTENTIALLY HEADING INTO WE ARE POTENTIALLY HEADING INTO AN ECONOMIC DOWNTURN, AN ECONOMIC DOWNTURN, POTENTIALLY A RECESSION BECAUSE POTENTIALLY A RECESSION BECAUSE OF THE RECKLESS LEADERSHIP OF OF THE RECKLESS LEADERSHIP OF DONALD TRUMP. DONALD TRUMP. THE TOOLS YOU WOULD HAVE IN THE TOOLS YOU WOULD HAVE IN PLACE TO TRY TO STIMULATE AN PLACE TO TRY TO STIMULATE AN ECONOMY, WE DON’T HAVE THOSE IN ECONOMY, WE DON’T HAVE THOSE IN PLACE BECAUSE DONALD TRUMP GAVE PLACE BECAUSE DONALD TRUMP GAVE AWAY A TRILLION DOLLARS IN HIS AWAY A TRILLION DOLLARS IN HIS TAX BILL, LARGELY IN CORPORATE TAX BILL, LARGELY IN CORPORATE TAX CUTS, TAX CUTS TO THE TAX CUTS, TAX CUTS TO THE WEALTHY. WEALTHY. THE FED ALREADY HAS LOW RATES. THE FED ALREADY HAS LOW RATES. DONALD TRUMP IS LOOKING FOR DONALD TRUMP IS LOOKING FOR OTHER PEOPLE TO BLAME IF THE OTHER PEOPLE TO BLAME IF THE RECESSION COMES, THE DOWNTURN RECESSION COMES, THE DOWNTURN COMES BEFORE HIS ELECTION. COMES BEFORE HIS ELECTION. SO HE’S SET UP THE FED. SO HE’S SET UP THE FED. HE’S SET UP XI JINPING.

100 thoughts on “Stocks Plummet As Donald Trump Escalates Trade War With China, Attacks Fed Chair | Hardball | MSNBC

  1. How can you get countries with no money to put pressure on china? no leverage. It's a new war out here it's called money.

  2. Trade deficits are only one variable in accessing an economy. If trade deficits were the only thing that matters and the US is losing on trade deficits then why is are GDP 21 trillion dollars and the next three highest countries have to be added together to reach our economy?

  3. Trump wants to destroy the bridge with China,the biggest consumers markets in the world,so America is going to rely on Europe to buy their products,don’t forget what Germany Chancellor had said,we don’t buy Americans cars because ours are better.Selling weapons would be easier as America are great at stoking conflicts,war mongering,sanctions,intimidate and creating enemies through lies.

  4. There is just no way america can win the trade war. china economy is 2 times bigger then the US Trump is fighting an uphill battle rip. every great empire's had its time

  5. Trade war is a political theater tool use to artificially manipulate the 2008 – 2019-20 "stock market big ugly bubble" in preparation for the 2020 election. Killing the U S economy and the its currency at any price, for political gains.

  6. STFU you Monster talking over those speaking when you have already asked the question in the first place? If we miss the response when you open your cake hole when the guest is speaking it makes for BAD TV, this is a basic rule, if you cannot comply then you have become an Albatross….?

  7. Recession has already begun from last December, my Silicon Valley retail and wholesale is going down, it is hard to make money now.

  8. Just came to see the comments of the crying liberals who follow the MSLSD propaganda. What you "economics" geniuses don't realize weak leadership by previous administrations have brought us to this point. Why are you [email protected] so upset Trump isn't selling us out to China like the Clintons did? What do you [email protected] think will be the result if we allow China to continue with their unfair trade practices, and theft of intellectual property? I have never seen so many [email protected] cry because a president is keeping his promises. Keep crying you beta [email protected] Trump 2020

  9. ut ohh since economy is going in recession we definiately can't afford the border crisis or open borders i guess we can't afford any more assylum seekers since America is in too much debt

  10. The reason no one rallied with US is that only US thinks China is a monster…Trade deficit doesn't show the whole picture…What about big profit Apple makes out of iphones made in China? Its not counted in the trade deficit at all…

  11. I don't know how these 4 goons came up with the idea China is ripping them off. Do they want China to produce goods for them for free? Or to be their slaves?

  12. Fascinating angle.
    Um, could you please document the cause for all the previous stock market blips BEFORE our great President arrived on the scene?
    …….hello?

    Hmmm, they're not answering……….

  13. The biased left wing media's attack on Trump is not only detrimental for the nation it undermines negotiations between the two countries. They're trying to 'copyedit' the world!

  14. Ally the allies, ally the allies. Isn't this hope but spilled milk. The TPP is dead, and u can't MAGA without squeezing the allies.
    Its too late now, you've passed the tipping point. The world economy is sputtering now.

  15. Trump tried to close the deficit gap and ended up even bigger. Well, what did you expect from a bad businessman who only knows how to con his investers for his own gain. This is what you call a short term gain for for the Rich and a long time pain for the rest.

  16. Donald Trump stands to save millions of dollars annually in interest on outstanding loans on his hotels and resorts if the US Federal Reserve lowers rates as he has been demanding, according to public filings and financial experts.

  17. This President was a Joke in 2016, an Embarrassment in 2017, a National Division in 2018, and now a Cancer on Global and Domestic Economics in 2019… Can't wait to see 2020's train wreck. If you don't see a destructive and downward pattern, you're a fool

  18. I hereby order Ivanka to take a DNA test to prove that Barron is not the love child of Ivanka and Trump's sexual abuse.

  19. In a way it looks like, God has agreed to make us look like idiots here in the USA, we have a president that should be in a Especiall Hospital with people with dementia He should be in treatment and instead He is out president , is just out of a horror book, be event Spielberg will be able to imagine this this is either the work of God ,or satan under God supervision

  20. China is the red muleta to Trump. He is totally mad, he dwarf James Mattis totally, it's not fair to call Mattis mad dog at all

  21. China is the red muleta to Trump. He is totally mad, he dwarf James Mattis totally, it's not fair to call Mattis mad dog at all

  22. Navarro must have gotten his economics degree from Trump university. With the US$700B trade deficit, the real budget deficit is not US$1000B, but a much lesser US$300B, this is why inflation in US has been low for so long at so high budget deficit level. If US$700B trade deficit is all cut, US unemployment rate would have to be -2.0% instead of 3.7, meaning there is not enough man power to fill all the labor demand. 70% of US budget go to US military spending: US$700B = next top 10s combined, offset exactly by US trade deficit: US$700B. So, why can US bombs the world around? because the world pay tribute to US in the

    form of trade deficit, to earn the illusional wealth: US$. China is at the top of whom to blame for paying tribute to US: US$350B. Any way, balloon up the budget deficit while cutting imports, someone close to Trump must want Trump to lose the next election and got his way.

  23. Looks like MSNBC and their supporters are happy to trash Trump while over $300billion go to China, strange people these Americans, how stupid!

  24. Thankfully we Europeans are no longer 'like minded countries' vis a vis the US. European leaders, apart from Johnson, have increasingly distanced themselves from America. Merkel: "We Europeans must really take our fate into our own hands." Trump spends a lot of his time attacking the EU. Only 10% of Germans believe that Trump will 'do the right thing' and they believe by a margin of 42% to 23% (⅓ undecided) that China would be a more reliable partner.

  25. He say it not effecting ya in USA well it do . I own steel roofing business cost is higher for materials then before for example 1roll of steel is now $10k when it use to be $8k a roll when order from China if I buy from USA it $15k a roll. So price on my product go up when selling to customers.

  26. I thought trump and kimjung un were so tight ? He said that kim sent him a love letter but he didn't say what was in it ! Is this so called president lying about a love letter when its actually a hate letter ? He lies about everything else , he could be lying about this !

  27. Trump asked who is the real enemy of the US? – Chinese people or Fed chairman? I ask who is the real president of the United state of America? Donald Trump or Howard stern?

  28. as someone born in the 80s, watched Donald and his shows, the world of 2019 is just so unreal, seeing this man twitting national policies on twitter…. the world is literally turning into Idiocracy….. a less entertaining version of it…. the more i think about this, the more unreal it seems, and also extremely frightening, this is America we talking about, the most powerful nation in the world, running by Donald mothafking trump….this is just unreal, how did we get to this… this is literally worst than ancient china where they let a 3-year-old emperor reign.

  29. Private banking is a racket. Who cares if the corrupt Federal Reserve comes under attack from a corrupt president and an even more corrupt corporate media machine. Plague on both houses. This system is still a duopoly, whether Trump says stupid things or not. And you t's still a plutocracy. Therein lies the problem.

  30. A totalitarian government will stifle its peoples' creativity, beating them down to the ground in every way. They will not be able to overcome the democratic nations of the world.

  31. Trump has reached the threshold of being VERY INSANE! Tim to stop this Danger to all America! And Nancy Pelosi; where are YOU! You HAVE DONE NOTHING TO HELP this Fraudulent Government. You need to leave and retire, because your reign in our White House has expired because of you Lack of Action! Shame on you Nancy!

  32. Seems like the liberal media have dropped the Russia Collusion BS for now. The current narrative is try to convince the sheeple that a recession is coming in 2021. Will the liberals accept this new BS? 😎.

  33. How is China ripping off the US? AFAICT, each consumer in the US is free to buy whatever and from whereever he/she wants. No one in China is forcing anyone in the US to buy anything. Duh.

  34. How is China stealing intellectual property, when US companies give them the blueprints, schematics on how to build everything? They F*****m gave it to them, you morons!
    Think of this hypothetical dilemma, a modeling agency awards me with a romantic getaway vacation, along with two of the most beautiful woman in the world, and then telling me, "Oh by the way dont f**k them"!! Are you people stupid, or just play stupid for the TV?!

  35. So this is what it is like to watch America when they get out smart. They enter with China with extreme arrogant and thought they'd clean house was the reason that got you here . Stop the blame…

  36. Blah blah. Fake news.
    Trump will make China a state, and move Communists in USA there to live in the crumbling condos.

  37. Trump's voters are deplorable arrogant racist violent criminals idiots without education so they believe six times bankruptcy Trump's economic policies.

  38. Only Trump has the guts to.do what deep inside many.US politicians have always wanted to do but are too afraid to do.it. let US give.Trump another 4 years…

  39. What America has been doing to China in this evil war is simply bullying. Every country can see that. The world is returning to the order of the forest – violence, robbery, bullying, and more to come.

  40. some Chinese interlopers in these comments sowing discontent. Something the Chinese themselves never tolerate from their citizens.

  41. Stop investing in war but in America's economy, heathcare and education. Blaming just waste time. No one force anyone to buy Chinese products. It is consumer choice….demand and supply.

  42. I thought the deficit was because the US buys more from them… I mean, best you can hope to do is out compete them. Tariffs slow things down.

  43. Dow closes up 270 25,898. day after G7. Great job Mr. President! Trade talks with China possible. MSNBC in recession trying to find a recession for Trump.Ratings still down I see.

  44. China get chinas goods and services while china gets little pieces of one day worthless paper called 'federal reserve notes' whos f'in whom?

    Why is this con man in office..cause the democrats have not even attemped to address the real issue/s of how trump got into power why would anyone think any of this foolishness will ever change? A electoral college that the people choose by 3 million one candidate and get the other ….and this is the second time while Dems run a rigged primary. Media does nothing. The Dems ran a person who was under a felony fbi investigation during the entire campaign…wtf…support hillary or not…how did anyone allows this? and not see it was a way to hand trump the presidency…and now the dems want to go backwards again and put the senile biden in as president.

  45. And now Trump says they want a deal. Wow! Who can take much more of this? It is truly exhausting and maybe that's what he wants so that we'll quit looking!

  46. Bring back our industrial economy! Do you know that if we had to fight a war with China or who ever who is going to build our tanks?

  47. Or maybe just let the US do business with itself and see where the money will come from since there are rich! More like rich of stealing from other nations

  48. Yeah… Trump’s got a real effective strategy. Insults and alienated ALL of his democratic allies and go stand alone cuz after all …. he’s got to make it about himself. His ego is bringing his whole country down.

  49. I CANNOT STAND THIS SHOW AND THIS CHANNEL…I….NEVER…WATCH…IT…EVER SINCE MY EYES WERE OPENED WHEN THE DON WON OFFICE…HONESTLY…I OPENED THIS VIDEO LIKE SOMEONE WHO WALKS INTO A SMELLY OUTHOUSE AND HOLDING HIS BREATH LONG ENOUGH TO TO TAKE A DUMP.

  50. I remember Trump telling the Soy Bean farmers that he will be giving them the tariff income he earns from China. That shows his ignorance on international trade. Tariff on the Chinese products are paid by the US consumers and any subsidies paid to the farmers will be from the Taxpayers.

  51. China pays us, said Trump. All trumpist supporters jumps in extasy. America First! To make China great again! Trump, best agent of China.

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