that s in military vehicles in the united states, the canadian aluminum that makes your fighter jets is somehow now a threat? the fact that i mean, next week we re hosting the g7 summit of world leaders and the airfield, the military base that air force one is going to land on, was put there in world war ii to protect an aluminum smelter that was providing to the military effort. the idea that we are somehow a national security threat to the united states is quite frankly insulting and unacceptable. so what do you feel that the president wants from you in putting these tariffs out there? i don t know. you don t know what he wants here? is this about is this about a nafta the reason i don t know is because he s talked about the fact of this he s worried about trade surpluses, trade deficits around the world. well, they have a $2 billion surplus on steel with us.
nafta the reason i don t know is because he s talked about the fact of this he s worried about trade surpluses, trade deficits around the world. well, they have a $2 billion surplus on steel with us. so it s not like the trade is imbalanced against the u.s. favor on this one. i m joined now by jason furman, a former chairman of the council of economic advisers under obama, current professor of the practice of economic policy at harvard kennedy school. good evening. good evening. it seems like a lot of different experts, including the president s own economic advisor, larry kudlow, say these kind of tariffs are bad. in plain english, why are they so widely reviled? they re bad on both ends. when we put a tariff on imported steel, it means that all of our steel-using industries, and there s 40 jobs in those for every job in steel are disadvantaged and other
the fact that i mean next week we re hosting the g-7 summit of world leaders and the airfield, the military base that air force one is going to land on was put there in world war ii to protect an aluminum smelter that was providing to the military effort. the idea that we are somehow a national security threat to the united states is quite frankly insulting and unacceptable. so what do you feel that the president wants from you in putting these tariffs out there? i don t know. you don t know what he wants here? is this about is this about a nafta the reason i don t know is because he s talked about the fact of this he s worried about trade surpluses, trade deficits around the world. well, they have a $2 billion surplus on steel with us. so it s not like the trade is imbalanced against the u.s. favor on this one.
we run these huge deficits we re essentially piling up debt. but there are countries like germany, switzerland, japan, that run trade surpluses with china not deficits because they have found ways to export more stuff to china and they ve kept their imports at a reasonable level. wow. so congressman, tell us, if you were advising the president now on his net, ready to cast a wide net, how would you win this trade war? what steps would you take next to aid void the fallout to american workers. but still get some of the problems we re talking about here fixed. he casts a wide net then he starts to pull the net back and we have to look at the effects on the economy, we have to look at the effects on manufacturing and farming going on. especially in ohio so in the end what s the ideal policy outcome? the ideal policy is to have free and fair trade with china, especially china. that s our issue. china is not fairly trading with us and i think in the end we
for an administration concerned about the trade deficit with china. pork and soybeans, those are trade surpluses and they are big. they create value for all americans. already china s tariffs on pork drove down prices on the chicago marketes where it could cost more to raise a hog than it s worth. rick dean s son derrik is a 4th generation hog farmer. do you think there is a future in this? there is definitely a future. my grandfather has been doing it and his dad s been doing it. we always found a way to make it by somehow. the president tweeted that despite his tariffs on aluminum and steel, money is pouring into the u.s. and jobs, jobs, jobs. but the u.s. pork industry said it responsible for more than half a million jobs. taking them away in one place and adding them in another