0:00:00.000,0:00:01.167
Let me ask you about adversaries,

0:00:01.167,0:00:02.335
because among Trump

0:00:02.335,0:00:03.169
supporters is a view:

0:00:03.169,0:00:04.295
Because Trump is so crude,

0:00:04.295,0:00:06.715
so obnoxious, so overbearing,

0:00:06.715,0:00:07.966
so insulting,

0:00:07.966,0:00:09.801
he must impress the Chinese

0:00:09.801,0:00:10.802
no end. That,

0:00:10.802,0:00:11.761
that kind of—

0:00:11.761,0:00:12.637
they must look at him and say:

0:00:12.637,0:00:14.014
Here is one rough, tough guy who

0:00:14.014,0:00:15.432
we better not fool around with.

0:00:15.432,0:00:15.932
And, you know,

0:00:15.932,0:00:19.394
Obama was so polite, and

0:00:19.394,0:00:21.271
George W. Bush was so affable.

0:00:21.271,0:00:21.688
We didn't,

0:00:21.688,0:00:23.940
we don't respect them, but

0:00:23.940,0:00:25.066
we can respect this guy.

0:00:25.066,0:00:26.568
And the world,

0:00:26.568,0:00:27.277
the world now

0:00:27.277,0:00:28.778
fears Donald—fears

0:00:28.778,0:00:29.654
to cross Donald Trump.

0:00:29.654,0:00:30.405
What is your assessment

0:00:30.405,0:00:32.073
of what the adversaries think?

0:00:32.073,0:00:34.492
Well, China's laughing, okay?

0:00:34.492,0:00:36.995
China is—

0:00:36.995,0:00:38.455
plays a long game.

0:00:38.455,0:00:41.249
They understand that in

0:00:41.249,0:00:41.916
a trade war

0:00:41.916,0:00:43.168
with the United States,

0:00:43.168,0:00:44.002
in many ways,

0:00:44.002,0:00:45.879
they have the upper hand. Why?

0:00:45.879,0:00:46.629
In large part

0:00:46.629,0:00:48.757
because they're not a democracy.

0:00:48.757,0:00:50.050
And they can withstand

0:00:50.050,0:00:51.509
economic pain, blame it—

0:00:51.509,0:00:53.595
blame it on the United States,

0:00:53.595,0:00:55.972
and their people will eat it.

0:00:55.972,0:00:57.015
That's not going to work here

0:00:57.015,0:00:57.849
in the United States.

0:00:57.849,0:00:58.391
And plus,

0:00:58.391,0:01:00.060
China is looking at the

0:01:00.060,0:01:02.979
damage that we are doing to

0:01:02.979,0:01:04.981
economies around Asia

0:01:04.981,0:01:06.649
and seeing an opportunity

0:01:06.649,0:01:08.401
for them to fill a vacuum

0:01:08.401,0:01:09.778
in the bilateral

0:01:09.778,0:01:10.862
trade relationship

0:01:10.862,0:01:12.447
that we've left.

0:01:12.447,0:01:14.949
Moreover,

0:01:14.949,0:01:16.868
China

0:01:16.868,0:01:18.661
played Trump's game with him,

0:01:18.661,0:01:20.497
and he said,

0:01:20.497,0:01:21.706
Trump said, you know,

0:01:21.706,0:01:22.373
we're going to tariff

0:01:22.373,0:01:22.957
you this amount,

0:01:22.957,0:01:24.042
and China said, okay,

0:01:24.042,0:01:25.460
I'll call you and raise you.

0:01:25.460,0:01:27.629
And they went back and forth

0:01:27.629,0:01:32.008
until it got to a crazy

0:01:32.008,0:01:32.926
level.

0:01:32.926,0:01:34.052
But the Chinese are

0:01:34.052,0:01:35.220
not backing down.

0:01:35.220,0:01:36.012
And the Chinese,

0:01:36.012,0:01:37.555
moreover, are saying,

0:01:37.555,0:01:38.765
beyond the trade room:

0:01:38.765,0:01:39.682
We've got a whole bunch

0:01:39.682,0:01:40.767
of non-trade things

0:01:40.767,0:01:41.476
we can do

0:01:41.476,0:01:43.812
to make your life miserable,

0:01:43.812,0:01:44.687
Donald Trump.

0:01:44.687,0:01:45.105
And that's

0:01:45.105,0:01:46.815
when they went after rare earths

0:01:46.815,0:01:49.984
and a whole bunch of of other,

0:01:49.984,0:01:52.028
important

0:01:52.028,0:01:53.613
products, commodities,

0:01:53.613,0:01:55.281
that we depend on, that

0:01:55.281,0:01:57.909
China only can provide.