Art and I discuss the impact of the Trump administration's trade policies on the world economy and the impact on our relations with China and other countries. Art and I also talk about the Iran deal and its impact on the U.S. relationship with the world and the importance of having a strong economy and a strong government. Art is a professor of international affairs at the Harvard Graduate School of Public and International Affairs and is a frequent guest on CNN's "State of the Union" where he is a regular contributor. Art is also a frequent contributor to the Wall Street Journal and has been featured in the New York Times, USA Today, CNN, CBS News, and NPR. He is the author of the book, "America's Next Top Model" and is the host of the popular podcast, "The Art of the Deal" on Fox News Channel's "The View From the Top". Art also hosts the show, "Business Insider" and hosts the daily show "The Cut" on CBS Radio's "Good Morning America" and "The Breakfast Club" on Sirius XM Radio. Art talks about his travels to China and his recent trip to the embassy and talks about the recent visit to the White House with Donald Trump Jr. and his thoughts on the trade war with China, Iran and other topics related to the deal between the President and China, and what it means for the United States and the rest of the world, and his views on the Iran Deal. and Iran. Thank you for listening to this episode of "The Good Morning America." Art's work at Harvard Law School and his book "Businessman" "The Best of the Week" "Business of the People" is out! - Subscribe to our new book "The Real Deal" is out on Amazon Prime Video Subscribe on Audible. Subscribe and review our new podcast, Subscribe on Apple Podcasts! Subscribe on iTunes Learn more about your ad choices and become a supporter of The Good Life Podcasts? or share our podcast on Podchronicity and more! Learn more at Hustler.co/Our podcast choices are available on Podcoin Subscribe to Hustler Podcasts and other Podcasts Connect with a fellow Traveler's Journey Join us on Social Media - The Good Morning's Journey - The Best Podcasts - Subscribe on Podcasts & Podcasts Connected to Our Social Media Learn More about Your Day Offers?
00:00:01.000I was fortunate enough to go with the School of Public and International Affairs to China this past May, and we got to go to the U.S. Embassy.
00:00:10.000In the embassy, I guess this question is more for you, Mr.
00:00:13.000Trump Jr., but, yeah, at the embassy, we got to learn about a lot of the, like, actions and comments that your father has made, I guess.
00:00:27.000Consequences, or however you want to look at it, consequences that come with that.
00:00:32.000But they were saying that it's creating an erratic style of international policy that a lot of other countries cannot, I guess, not contend with, but I think you hit it right.
00:00:46.000They can't contend with it because they're used to us bowing down and giving them whatever.
00:00:51.000This is the first presidency to actually use the economic might of the United States.
00:00:57.000We are the largest consumer in the world!
00:01:00.000The fact that these countries are used to it, they come, they say, oh no, he's going to do something with trade.
00:01:10.000We import 100x from them that they do from us.
00:01:14.000When we send something over there, it's tariffed.
00:01:16.000When they do it from us, if we enter a trade war and we have the guts to stay in it for more than two seconds, we win because we consume So much more.
00:01:23.000The problem we have with other countries is they're used to bureaucrats being incompetent.
00:01:29.000They're used to people not even asking the question of, well, why are you taking advantage of us and why should we just accept that?
00:01:36.000No one even asked the question before.
00:01:39.000So doing this and changing it up is changing the game because all of these guys, then they get on TV and they say, oh, it's so terrible.
00:01:45.000Trump's doing this. It's really going to affect our friendship.
00:01:47.000Well, guess what, guys? If your friendship with us is predicated on you being able to screw us, on you being able to take advantage of us, you're not that good a friend.
00:02:02.000China will do whatever is right for China.
00:02:06.000Most of these other countries, with the exception of some of the crazy politicians in this country, will do whatever is right for their country.
00:02:13.000So when they act a little outraged, it's not because It's good for them.
00:02:19.000It's because we're finally taking care of ourselves.
00:02:36.000But we have a lot. We're number 28 in education, behind a long list of third world countries that spend A basis point, a fraction of what we spend per capita educating our kids.
00:02:48.000How about that? Why don't we solve that problem first?
00:02:54.000So when these other countries do that, and you've seen them now, okay, well, we'll give up on the trade war because they know that if we have the guts and we don't have these feckless politicians that the second China says, oh, we're going to impose a tariff, guess what?
00:03:06.000When you import 100 items from them and they import one of yours, You stay in the game for more than about two seconds, you can win.
00:03:14.000We have to start using our economic might to take care of ourselves first, and then we can help others.
00:03:19.000By the way, the president is just doing what he's supposed to do, which is actually run this country in a responsible way like any strong business CEO would.
00:03:26.000Because for years and years we've been taken advantage of, there has been a tremendous disparity, In terms of what we've been doing with trade and with tariffs, he is simply asking that there be some reciprocity and that we should not continue to be taxed and burdened.
00:03:59.000They are part of that establishment system that he's fighting against.
00:04:02.000I mean, when you look at what, say, Rick Grinnell in Germany, the ambassador to Germany has done, he's shutting down Iran because he's finally putting some pressure on Germany to not just do business.
00:04:11.000You've got to pick. You either do business with Iran, the world's number one sponsor, state sponsor of terrorism, or you do it with the United States.