Gavin Newsom

I'm concerned about what I also read today, not just as it relates to where China is, the Wall Street Journal article in particular, I think you're referring to, that sort of highlighted some of the mythology there and they're putting on a good face, but their economic realities are a little bit more disconcerting for them.

I'm concerned about what I also read today, not just as it relates to where China is, the Wall Street Journal article in particular, I think you're referring to, that sort of highlighted some of the mythology there and they're putting on a good face, but their economic realities are a little bit more disconcerting for them.

I'm concerned about what I also read today, not just as it relates to where China is, the Wall Street Journal article in particular, I think you're referring to, that sort of highlighted some of the mythology there and they're putting on a good face, but their economic realities are a little bit more disconcerting for them.

But I'm more disconcerted by the fact that the Trump administration is out there saying we need to make a deal. I mean, you lose all leverage when you say we need to quickly make some deals.

But I'm more disconcerted by the fact that the Trump administration is out there saying we need to make a deal. I mean, you lose all leverage when you say we need to quickly make some deals.

But I'm more disconcerted by the fact that the Trump administration is out there saying we need to make a deal. I mean, you lose all leverage when you say we need to quickly make some deals.

Well, the leverage over time, I mean, obviously the two-way trade for them is going to disproportionately impact their domestic economy. I think 13% of their GDP is connected with those exports to the United States, just 3% from the US to China. So there's asymmetry as it relates to that balance. The reality, though, for us, our politics is so much more situational.

Well, the leverage over time, I mean, obviously the two-way trade for them is going to disproportionately impact their domestic economy. I think 13% of their GDP is connected with those exports to the United States, just 3% from the US to China. So there's asymmetry as it relates to that balance. The reality, though, for us, our politics is so much more situational.

Well, the leverage over time, I mean, obviously the two-way trade for them is going to disproportionately impact their domestic economy. I think 13% of their GDP is connected with those exports to the United States, just 3% from the US to China. So there's asymmetry as it relates to that balance. The reality, though, for us, our politics is so much more situational.

And he's got to look quarter to quarter. He's got to look next midterms. He's got to look at the markets. And Xi is obviously able to play a longer game. And that, to me, is where this leverage starts to loosen a little bit.

And he's got to look quarter to quarter. He's got to look next midterms. He's got to look at the markets. And Xi is obviously able to play a longer game. And that, to me, is where this leverage starts to loosen a little bit.

And he's got to look quarter to quarter. He's got to look next midterms. He's got to look at the markets. And Xi is obviously able to play a longer game. And that, to me, is where this leverage starts to loosen a little bit.

I don't think he has a tremendous amount. And I'll tell you, one of the things that really bothered me, and I'm not trying to be a spokesman for the MAGA movement or Trump, but I thought it should bother them. You know, when Apple got the exemption on the smartphones, they also announced they were moving a ton of their manufacturing, not to the United States, but to India.

I don't think he has a tremendous amount. And I'll tell you, one of the things that really bothered me, and I'm not trying to be a spokesman for the MAGA movement or Trump, but I thought it should bother them. You know, when Apple got the exemption on the smartphones, they also announced they were moving a ton of their manufacturing, not to the United States, but to India.

I don't think he has a tremendous amount. And I'll tell you, one of the things that really bothered me, and I'm not trying to be a spokesman for the MAGA movement or Trump, but I thought it should bother them. You know, when Apple got the exemption on the smartphones, they also announced they were moving a ton of their manufacturing, not to the United States, but to India.

If the whole theory of the case is that this is supposed to be supply chains home, I would have been, you know, I would have immediately called that out. And so this whole, the whole theory of the case is being blown up. The original arguments around why we're doing tariffs and sort of this sort of ready, fire, aim approach to our allies and our trading partners.

If the whole theory of the case is that this is supposed to be supply chains home, I would have been, you know, I would have immediately called that out. And so this whole, the whole theory of the case is being blown up. The original arguments around why we're doing tariffs and sort of this sort of ready, fire, aim approach to our allies and our trading partners.

If the whole theory of the case is that this is supposed to be supply chains home, I would have been, you know, I would have immediately called that out. And so this whole, the whole theory of the case is being blown up. The original arguments around why we're doing tariffs and sort of this sort of ready, fire, aim approach to our allies and our trading partners.

So I don't know where the leverage is. And I think the only actual leverage are the markets. And I think that's the one thing that can move this administration. Thank God for the markets. Mother Nature hasn't impressed them on low-carbon green growth, but the markets certainly still last about 1,000.

So I don't know where the leverage is. And I think the only actual leverage are the markets. And I think that's the one thing that can move this administration. Thank God for the markets. Mother Nature hasn't impressed them on low-carbon green growth, but the markets certainly still last about 1,000.