Transcript of Trump’s remarks at fundraiser in Missouri on March 14

.. I mean seriously, when you see what’s happening you look — we’re renegotiating NAFTA right now. I don’t know that we can make it good.

I tell people openly, because the best deal is to terminate it and then make a new deal. But I don’t know that we can make a deal because Mexico is so spoiled with this horrible deal that they’ve lived with, from our standpoint horrible.

So think of it, Mexico makes more than a hundred billion dollars a year on the United States. Now, how stupid is this.

But sometimes something is so good that you can’t — how do you? The best way? Terminate, let’s start all over again. Let’s start all over again. But some of the politicians are afraid to terminate, oh, we don’t want to terminate NAFTA. Take a look at these empty mills all over the place, that they turn into nursing homes, you know. Nice solid walls on the outside. But, it’s — it just can’t be.

I really think we’re making the point a lot of people are digging it. I will tell you, the people that really count, which is you, the workers, everybody, they’re really understanding what’s going on. Nobody’s done what I’m doing. I mean it’s sort of really virgin territory.

It’s absolutely virgin territory. It’s territory that our country for 50 or 60 or 70 years has not wanted to go there. They just haven’t for whatever reason.

And our wealth has been taken, our jobs have been taken, our companies have moved, and now they’re starting to move back. So it’s, it’s a formula that is, it’s just absolute — there’s disruption, there’s anger. And just remember, our friends that everybody says — our allies, our allies are wonderful — I love our allies. Our allies care about themselves, they don’t care about us. You look at our trade deficit with these countries are our allies. It’s unbelievable. And they understand it. I don’t blame them.

I told Japan — so we lose 100 billion dollars a year with Japan — 100 billion. So why aren’t we taxing their cars when they come in. Then we’d lose nothing. We might even make something. And you know what they’re going to do, they’re going to say we don’t want to pay that tax, so let’s build plants in the United States. They already have some. But they’ll expand them and they’ll build new plants. Because they don’t want to pay the tax — I want them to build new plants in the United States. Let them make United States here — like China makes them do, we have a company, they want to build planes over there, hate to say it, Boeing is being forced to build plants. I don’t like that, I don’t like it, so I’m not saying China’s wrong. I was with President Xi, I was with a big group of people, and I was saying how China is ripping off the United States. And he’s like “woo, this is uncomfortable.” [Laughter.] 700 press. I’m saying China is ripping off our — but I don’t blame you. I say, it’s great that you were able to do it for yourselves. I blame the people that represented our country, because they were not doing their job — they were delinquent in allowing this to happen to us. So we owe 21 trillion dollars. We lose 800 billion a year.

Josh will say, I don’t think I’m going to ruin [unintelligible.] Think of it, Josh. We lose 800 billion a year on trade. Who made these deals? Who made these deals?

Then you have certain people that think it’s okay to lose 800. You know, these worldly people. You know why they’re worldly people, because they have stuff on the other side. [Laughter.] That’s what it is. Can’t be any other reason. But we lose 800 billion dollars a year on trade. We lose our jobs, we lose everything.
And it’s not happening anymore, because it’s starting to come back. But over the next few months, you’re going to find it even more interesting. Because things are really — you know, we have, statutorily you have to do this, this, this, wait 90 days, wait six months, you can’t do it, you’re not allowed to legally. We have agreements that are so bad.

We have one agreement with a trade. I said when does that agreement terminate, it’s terrible. Sir, there is no termination. I said, what do you mean? We don’t have the right to term — I said, well, okay, after 10 years, 20 years. No sir, there is no right of term — I said what the hell kind of — So you know what I did, I just terminated. [Applause.]

Which would mean that’s, we’ll call it unconstitutional. There’s no end date. There’s no nothing. I’ll give you another example, Mexico, so they have this great deal. The day it was signed, it was a bad deal, because they have a 16 percent VAT tax, and we don’t. So they were already up 16 percent before the deal. And nobody saw that. And by the time they realized it, the deal was gone. But instead of adjusting the deal — what was that, 30 years ago when it was first signed — instead of adjusting the deal, we lived with it. What the hell difference does it make?

So they had a 16 percent step up advantage on us, and they have for many years. And Mexico and Canada — and, by the way, Canada, they negotiate tougher than Mexico. Trudeau came to see me, he’s a good guy, Justin. He said, no, no, we have no trade deficit with you, we have none. Donald, please. Nice guy, good-looking, comes in — Donald, we have no trade deficit — he was very proud, because everybody else you know were getting killed with our, so he’s [unintelligible]. I said wrong, Justin, you do. I didn’t even know. Josh, I had no idea. I just said, you’re wrong. You know why? Because we’re so stupid. [Unintelligible, laughter] And I thought they were smart.

I said you’re wrong, Justin. He said, Nope, we have no trade deficit. I said, Well, in that case, I feel differently, I said, but I don’t believe it. I sent one of our guys out, his guy, my guy, they went out, I said, Check, because I can’t believe it.

.. Well sir you’re actually right. We have no deficit, but that doesn’t include energy and timber. But when you do we lose 17 billion dollars a year. It’s incredible. So you’re in good hands. And I need Josh to help [unintelligible]. [Applause.]

Claire McCaskill is a guaranteed negative vote on every single thing that you people stand for, and frankly that a vast majority of the people of Missouri stand for. It is a negative vote for our country. And you have to defeat Claire McCaskill. Last time she get very lucky. She got lucky — she was going to lose. That was a done deal. And then, something happened. I was watching, I said, oh! What happened. That was big! The next day I said, oh yeah, I was right, I watched that.

So you got to get her out. Bad for Missouri, bad for the country. And this is going to be a great United States senator. Thank you very much. [Applause.]

Surplus or Deficit? Trump Quarrels With Canada Over Trade Numbers

Canada’s view that the U.S. has a surplus undercuts Trump administration’s push on Nafta

The complexity of the statistics measuring U.S.-Canadian trade flows allows each side the ability to support its claim by choosing from an array of data.

Trump administration officials typically focus on merchandise trade balances with other countries, which don’t account for trade in services such as insurance or tourism.

The U.S. Census Bureau’s basic tally of merchandise trade with Canada lists U.S. exports at $282.4 billion and imports from Canada at $300 billion, indicating a deficit of $17.6 billion.

Canadian officials prefer to include services trade as well as merchandise. That method, which gives highly competitive American services industries credit, gives the U.S. a small surplus of $2.8 billion in 2017, according to the U.S. Commerce Department.

.. The U.S. is asking Canada for a litany of changes in the Nafta talks, from big shifts in auto-industry rules to the elimination of dispute-settlement system, and Canada officials are responding with an argument tailored to Mr. Trump: Trade between the two countries is balanced, so no major changes are needed to existing Nafta provisions.

.. President Trump raised eyebrows at a fundraiser when he reportedly told guests that he recently insisted to Canadian Prime Minister Justin Trudeau that the U.S. has a trade deficit with Canada, despite having “no idea” if that was in fact the case.

“Trudeau came to see me…He said, no, no, we have no trade deficit with you, we have none,” Mr. Trump said Wednesday, according to a transcript published by the Washington Post. “I said wrong, Justin, you do. I didn’t even know. Gosh, I had no idea. I just said, ‘You’re wrong.’”

In Praise of Globalists

“As a right-wing conservative and founding member of the Freedom Caucus, I never expected that the co-worker I would work closest, and best, with at the White House would be a ‘globalist,’ ” Mulvaney said in a tweet. “Gary Cohn is one of the smartest people I’ve ever worked with.

.. Globalist belongs in a class of words (“cuck” is another one, as is “othering”) that tends to say a great deal more about the person who uses it than it does about the person he says it about.

.. To be an anti-globalist, on the other hand, does specify something. It means someone who is convinced that serious business is transacted at conferences like Davos or Bilderberg or Munich, and that 500 or so people run the world at the expense of everyone else.

.. anti-globalism is economic illiteracy married to a conspiracy mind-set.

.. Who in the White House is left to tell the president he’s nuts when he tries to pull out of Nafta?

.. expats are our real globalists, representing the things that make America great:

  • adventure,
  • engagement,
  • commerce,
  • openness to new ideas, and
  • a love of America honed by a combination of critical distance and a new depth of appreciation.

Trump Links Planned Steel Tariffs to Nafta Renegotiation Effort

President says steel tariffs will remain until new Nafta signed

President Donald Trump on Monday increased pressure on two top U.S. trading partners, saying he would lift planned tariffs on steel imports only if Mexico and Canada sign a new version of the North American Free Trade Agreement, or Nafta.

“Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed,” Mr. Trump said in a morning tweet.

 .. The Trump administration is seeking to update the original labor provisions with stronger rules aimed at lifting the salaries of Mexican manufacturing workers, whom many U.S. officials blame for taking American factory jobs.
.. Prime Minister Justin Trudeau said tariffs would be “absolutely unacceptable,” given the integrated nature of the continental steel and aluminum sectors. Half of U.S. steel exports head to Canada, while 39% are shipped to Mexico.
“Disruptions to this integrated market would be significant and serious,” Mr. Trudeau said. “That’s why we are pressing upon the American administration the unacceptable nature of these proposals that will hurt them every bit as much as they would hurt us.”