Trade Expert

But my point here is they're coming now and saying, we want to talk, we'll lower our tariffs to zero if you lower your tariffs. That's not the problem. Vietnam is a great example, Laura. They sell us $15 for every one we sell them. Zero tariffs would get us no reduction in the $123 billion deficit we have. And five of that $15 they sell us, you know what? It's China.

It's that clip you showed about Cambodia, how China just comes over.

It's the same kind of, we call it transshipping. It's just crazy stuff.

Pressure, threats, and blackmail are not the right ways to engage with China. If the U.S. disregards the interests of both countries and the international community insists on launching a tariff or trade war, China will fight to the end.

Well, we have one of the Vietnamese officials coming in this week. The Japanese are very eager to get it over. And I think you're going to see a couple of big trading partners do deals very quickly.

The president had a very good call yesterday with the Japanese prime minister that led to these negotiations. And look, the Japanese are military partners, they're economic partners. We have a substantial imbalance with them, and I'm sure that they are as anxious as we are to get this remedied.

China's retaliation now includes suspending exports of rare earth minerals and magnets to the United States. Those materials are essential to a number of American industries, including car makers, aerospace manufacturers, and semiconductor producers.