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“If Biden wins, China will own the United States,” Trump asserted. “You know that, I turned that all around.”
Trump said that 10 years ago, “everybody projected by 2019 the economy of China was going to be bigger than the U.S.”
He continued, “Except that didn’t happen because I got elected. It turned out the opposite way.”
Trump pointed to his tariffs and anti-dumping orders.
In 2018, Trump enacted 25% tariffs on imported steel and 10% tariffs on imported aluminum. He also imposed a number of “anti-dumping” duties. Dumping occurs when manufacturers sell a product to another country at unusually low prices.
Trump also said that his administration would make China fund a U.S. stimulus bill.
“We’re going to take it from China, I’ll tell you right now it’s coming out of China,” Trump said. “They’re the ones that caused this problem.”
Varney asked the president how he proposed to do so.
“There is a lot of ways okay, there’s a lot of ways and I’ll figure every one of them out,” Trump said. “I already have them figured out. You know we’ve taken billions and billions of dollars for China over the last couple years.”
Trump again said he would go “higher” than the $1.8 trillion bill the White House offered, which House Speaker Nancy Pelosi rejected.
“Republicans will too. Because we like stimulus, we want stimulus, we think we should have stimulus. Because it was China’s fault. It was not the American workers’ fault," he said.
Varney asked Trump why he didn’t just agree to Pelosi’s $2.2 trillion deal.
“Because she wants all sorts of goodies, she wants to bail out badly run Democrat states and cities. She wants money for things that … just your pride couldn’t let it happen. It should be COVID-related.”
But on Thursday Sen. Majority Leader Mitch McConnell said he doesn't see a compromise for going higher on relief funding, and in fact, he would go much lower.
"That’s where the administration’s willing to go," McConnell said of the $1.8 trillion or higher relief price tag. "My members think that what we laid out, a half-trillion dollars, highly targeted is the best way to go and so that’s what I’m going to put in the floor."