Donald Trump argued with his interlocutor during a series of tense exchanges about his plan for high tariffs and other market policies Chicago Economics Club.
Trump has been repeatedly asked questions about his plan to impose as much as 100 percent tariffs on imported goods on Tuesday.
“To me, the most beautiful word in the English language is tariff,” Trump said. – And this is my favorite word. I need a public relations company,” he said, having previously informed about the disputes that were to occur.
“I know you're anti-tariff,” Trump told his questioner, John Micklethwait, editor-in-chief of Bloomberg News.
“You could drag America into the biggest trade war,” Micklethwait told him. “You will basically stop trading with us China… This will have a serious impact on the entire economy… The overall effect could be huge.
Trump replied: “I agree. This will have a huge effect, a positive effect.
Former President Donald Trump talked back and forth to journalist John Micklethwait about his proposed tariffs
This exchange made Trump ready to launch a sharp attack on his interlocutor, the former British editor of The Economist, who tried to confront him with the expected consequences of his plans.
“It must be hard for you to spend 25 years talking about tariffs as negative and then have someone explain to you that you are completely wrong,” Trump told him.
He said a tariff could be introduced “so high, so terrible, so disgusting” that companies would come and invest “right away.”
Micklethwait claimed that there are 40 million “trade-dependent” jobs in the U.S. and then tried to point out that American consumers could bear the brunt of the tariffs thanks to higher prices.
“Critics say your tariffs will become a nationwide sales tax on consumers,” Micklethwait told him. “No,” Trump replied.
Micklethwait then asked him about math. – Not what you thought. I've always been very good at math,” Trump told him.
There were moments in the wide-ranging discussion when Trump began talking about North Korea, South Korea and former German Chancellor Angela Merkel. But it was his interlocutor, not the crowd, who was discouraged by the associations.
When Trump started talking about the great U.S. military, Micklethwait told him: “With great respect to you, I asked about tariffs.
Trump threatens to impose tariffs of up to 100 percent – or even “20,000 percent” to force companies to build factories in the US
Micklethwait said the tariffs would amount to a consumption tax on American consumers
“You said Taiwan should pay for our protection. Yes, I asked because you just mentioned North Korea this morning, that the Chinese military is literally, as we say, rehearsing a full naval blockade of Taiwan. So my question is: if China invaded Taiwan, would you send US troops to defend it? Micklethwait asked.
– Well, they're doing it now because they won't do it later. All right? So they're doing it now,” Trump said.
The editor also pressed Trump on the release of Bob Woodward's new book, which Trump owned and has spoken to Russian President Vladimir Putin seven times since Trump left office.
He asked Trump to answer yes or no about whether he had spoken to Putin since he stopped being president.
'Well, I'm not commenting on that, but I will say that if I did, it would be a smart thing to do,” Trump said.
Micklethwait also pressed Trump on his spending plans and referred to the Committee for a Responsible Federal Budget's estimate of $7 trillion over a decade. “You're going into massive debt,” he told Trump. He pointed to an even larger Wall Street Journal estimate of $15 trillion.
– They were wrong about everything. You too, by the way,” Trump shot back.
– You were wrong.
“You're trying to turn this into a debate,” Micklethwait told him. “This is not a debate: You have been wrong about this your entire life,” Trump replied.
Trump also drew applause when he criticized the “corrupt press.”
The two men also argued on Jan. 6, when Micklethwait told him that “this was by far the most, worst transfer of power in a long time.”
“They like to do it,” Trump said when asked if he would accept a peaceful transfer of power.
– I left the morning I was supposed to leave. I went to Florida and the transfer went very smoothly,” Trump said.
“And some people went to the Capitol and a lot of strange things happened there. A lot of strange things happen to people waved into the Capitol by police,” he added.
