president biden and president xi jinping will meet today. i m todd piro. carley: i m carley shimkus. numerous national security threats tied to china that president biden is dealing with, first china buying up 384,000 acres of american farmland, including land located near military bases. remember the spy balloon that hovered over sensitive sites and 224 alleged chinese spies have been arrested in the u.s. since the year 2000. todd: we learned china is rapidly expanding their nuclear arsenal. that could rise to 1000 by 2030. then there is fentanyl being produced and coming in at 25,000 bucks per kilogram. carley: griff jenkins is here with what we can expect to happen today. hi. griff: good morning. you are right, the stage set for the san francisco summit, president biden and chinese president xi sitting down for the first time in a year when relations became more strained. last time they met was prior to when china started floating countless spy balloons across the
tariffs. meaning they take all their business abroad. affected countries retaliate with more tariffs creating a trade war. let s leave this one aside. discuss these first. well you know the easiest case study here is china. the ideas that we re going to tariff china out of business, or make china noncompetitive by imposing drastic tariffs on what they sell to the united states is very backwards thinking. china really isn t a nation of assemblyline workers only producing cheap clothing to the united states now. they want to be world leaders themselves. they re trying to back technologically progressive, competitive companies. and they ll sell to the rest of asia if the united states isn t there. we kill trade agreements which it looks like we re going to, the tpp, and impose a very drastic tariff regime it s going to be anti-competitive to the united states ultimately. now the president-elect has suggested that china taxes our stuff but we don t tax any of thirst. now is that true?
currency. you have to do a quid pro quo on the imports exports. you have to be fair in trade. you know what i say to you, we are holding about $2 trillion in debt, chinese, if you give me a hard time trump, i m going the sell it all. i m going to bankrupted you right now. that is what i m saying to you. and you say what? we have all of the power, all of the chips are on our side. it s a $1.1 trillion that is peanuts compared to the overall economy. i would say very strongly. you don t start behaving, 25% tax on every item you sell in this country. 25% right now. by the way,. bill: that would put walmart out of business? no, it will put china out of business. we have all the cards and chips. if that happens they would have a depression the likes you ve never seen. they can t play that game.
currency. you have to do a quid pro quo on the imports exports. you have to be fair in trade. you know what i say to you, we are holding about $2 trillion in debt, chinese, if you give me a hard time trump, i m going the sell it all. i m going to bankrupted you right now. that is what i m saying to you. and you say what? we have all of the power, all of the chips are on our side. it s a $1.1 trillion that is peanuts compared to the overall economy. i would say very strongly. you don t start behaving, 25% tax on every item you sell in this country. 25% right now. by the way,. bill: that would put walmart out of business? no, it will put china out of business. we have all the cards and chips. if that happens they would have a depression the likes you ve never seen. they can t play that game. bill: good point.
it will china out of business. we have all the cards and chips. if that ever happened, they would have a depression. the likes of which you have never seen. they cannot play that game. we can. bill: people got hurt in the united states if that tariff went on. very little. and you know what else would happen, bill? we would start producing our own products. bill: hopefully. but manufacturing here is gone because the labor costs are so cheap in china. yeah. because it goes to china. bill: they don t pay them any money over there. that s what happens. excuse me. it goes because they manipulate their currency. bill, it s going to china and other places and instead of having it in alabama and what ia and lots of good places in this country we are sending it overseas. it s horrible. bill: they can make it cheaper because they don t pay their people anything. they there are no unions over there. that s not really the reason but that s okay. bill: newt gingrich is showing up