Donald Trump and Xi Jinping’s trade war has continued to escalate this week as the US and China have imposed relaliatory tariffs on each other. The measures and threats continue to roil the stock market which has had a tumultuous last two weeks.
Fox News anchor Chris Wallace discussed Trump’s recent actions while appearing on America’s Newsroom with Sandra Smith. He told Smith that the President is “flailing around” and that his moves will not inspire confidence.
On Friday morning, the President tweeted, “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.”
….better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing..
— Donald J. Trump (@realDonaldTrump) August 23, 2019
Wallace took issue with these comments, telling Smith, “we have a free-market capitalist system.” The newsman continued, “The best I can tell, the American president can’t order U.S. Companies how they’re going to do their sales and where they’re going to have their supply chains. We have a free-market capitalist system. I don’t think the president can order a car company to move some of its factories from one place to another”
Wallace also took issue with Trump’s recent threats the Jerome Powell, the head of the Federal Reserve. The President said yesterday that if Powell wants to resign, he “wouldn’t stop him.” The Fox host closed his remarks, “When you have the president of the United States sort of flailing around this way and ordering companies to move back to the U.S. And saying that the head of the Federal Reserve is the enemy of the country, is that going to create more consumer confidence about the state of the economy or not?”
You can watch the segment here: