Episode 4844: Rise Of The Economic Trade War With China

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Bannon`s War Room 54 min 6 speakers 8 chapters transcribed

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Transcript generated automatically by AI and may contain errors.

What recent actions has the U.S. government taken regarding federal workers?

Unknown 0:00

It left town until Tuesday, and the House will not be in session all next week. In the meantime, the White House is following through with the president's threat to permanently fire some federal workers.

Steve Bannon 0:11

Earlier today, OMB Director Russell Vogt, who has become one of the most powerful people in this administration, announced that the layoffs have begun. They're also appealing a judge's ruling that temporarily blocked Trump from sending the National Guard to the city of Chicago. Meanwhile, another one of the president's perceived enemies Could soon face charges. MSNBC reports that the acting U.S. attorney in Maryland is moving to seek charges against former National Security Advisor, Trump's former National Security Advisor, John Bolton. A complaint or an indictment could come as early as next week. The Justice Department has already charged New York Attorney General Tish James and former FBI Director Jim Comey after public pressure from Trump himself.

How did the stock market respond to Trump's tariff threats on China?

Steve Bannon 0:54

The big question now on everyone's mind, who could be next? The Dow plunged nearly 900 points on a Friday. The Nasdaq lost 3.5% in its total value, and the S&P had its worst day since mid-April. Mid-April. That was back when Trump threatened a 145% tariff on China. Well, today's sell-off immediately followed. A Trump post on social media this morning threatening a new round of tariffs on China. He accused China of, quote, becoming very hostile with restrictions on rare earth minerals, which are a key resource for tech and defense industries. Almost an hour after markets closed, the president announced that the United States would impose an extra 100 percent tariff on China and add export controls on critical software.

Donald Trump 1:40

He wanted it.

What are the implications of Trump's proposed tariffs on China?

Donald Trump 1:41

You know, it's been a long time. He's been fighting a long time. He's been fighting hard. He wanted it. It's a great deal for Israel, but it's a great deal for everybody, for Arabs, for Muslims, for everybody, for the world. And as you know, on Monday, the hostages come back. They're getting them now. I mean, they're getting them now. They're in some pretty rough places. Under Earth, they're in some pretty rough places where only a few people know where they are in some cases.

How is the economic trade war with China affecting American businesses?

Donald Trump 2:09

So they're getting them, and they're also getting the bodies, approximately 28 bodies. And some of those bodies are... Being unearthed right now as we speak. I mean they're working on it right now as we speak. It's it's a tragedy. It's a tragedy No, he was very happy with it and I can tell you that I saw Israel dancing in the streets But they were dancing in Qatar and Saudi Arabia and UAE and many many countries I saw Egypt they were dancing. I'll be going to Israel I'll be speaking at the Knesset I think early on. And then I'm also going to Egypt. They were terrific.

What strategies are being discussed to counter China's economic aggression?

Donald Trump 2:51

But all of the countries were great. Indonesia was great. Jordan was great. They were all great. Everybody, everybody wants this deal to happen.

Unknown 3:00

I think what's interesting about this shutdown, and as we get more used to these shutdowns, is that there is somewhat of a celebration on the right.

Stephanie 3:07

Like, they're kind of all for the shutdown. I mean, if you look at the tweet posted today about the impending slashing of the government, there are celebration memes posted in response to that by right-wing influencers.

Unknown 3:21

They want to see the government shut down. They want to see people fired from their jobs.

What role does the media play in shaping public perception of the trade war?

Unknown 3:26

Those are right-wing influencers.

Steve Bannon 3:28

You know what they've never had to do? Run for office. And this goes back to what Mark was saying a moment ago, that Marjorie Taylor Greene is the canary in the coal mine. She knows whether it's Craven's self-interest or not, she needs to run again. Laura Loomer hasn't run on a treadmill. She doesn't know. I don't mean to. I guess it was sassy. But I mean, she has no idea.

How do experts view the future of U.S.-China relations?

Steve Bannon 3:49

None of these people have any idea what it means to represent the American people who are simply looking for health care, for a good education, for a good job.

Unknown 3:58

So so when you say the far right's happy, isn't far right lawmakers or is it the far right media sphere?

Stephanie 4:04

I think it's both.