President Donald Trump, energized by the new border deal with Mexico, made it clear Monday that tariffs are a key weapon in his arsenal as he moves forward with trade talks with China and other countries.
“People haven’t used tariffs, but tariffs are a beautiful thing when you are the piggy bank, when you have all the money. Everyone is trying to get our money,” Trump said during a telephone interview with CNBC’s “Squawk Box. ”
Trump said his threat to impose tariffs on Mexico encouraged the country to agree to stronger immigration enforcement, and he predicted the strategy will be successful with China. The president again argued that tariffs will push companies to move jobs to the U.S.
“The China deal is going to work out. You know why? Because of tariffs. Because right now China is getting absolutely decimated by countries that are leaving China, going to other countries, including our own,” Trump told CNBC’s Joe Kernen. He contended that companies would “move out” of China or Mexico and relocate to the U.S. due to tariffs.
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