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‘HISTORIC’ NEGOTIATION: Secretary Lutnick unpacks the Japan trade deal



‘HISTORIC’ NEGOTIATION: Secretary Lutnick unpacks the Japan trade deal

FURTHER INVESTMENTS IN OUR INFRASTRUCTURE AND OUR COUNTRY. HERE WITH THE DETAILS ON THIS AGREEMENT, 1 OF THE LEAD NEGOTIATORS, I DON’T THINK I WANT TO NEGOTIATE WITH THIS GUY, HOWARD LUTNICK. IT’S NOT ONLY JAPAN BUT IT’S INDONESIA, IT’S THE PHILIPPINES, YOU HAVE THE CHINA DEAL THAT TOOK PLACE. GET PHNOM AND MY UNDERSTANDING IS WE ARE CLOSE TO A DEAL WITH THE EUROPEAN UNION BUT LET’S TALK ABOUT THIS DEAL WITH JAPAN. >> WHAT IS SPECIAL ABOUT THE DEAL WITH JAPAN IS THIS IS NONTRADITIONAL INVESTMENT. THIS ISN’T LIKE THE GOVERNMENT SAYING TOYOTA IS GOING TO INVEST IN AMERICA. THIS IS LITERALLY THE GOVERNMENT OF JAPAN GIVING DONALD TRUMP AND THE AMERICAN PEOPLE $550 BILLION TO INVEST AT HIS DIRECTION ON THANKS THAT ARE IMPORTANT TO AMERICA AND NATIONAL SECURITY. I WILL GIVE YOU AN EXAMPLE. GENERIC ANTIBIOTICS. WE DON’T MAKE ANTIBIOTICS. DONALD TRUMP CAN SAY LET’S GO BUILD ANTIBIOTICS AND WE BUILD GENERIC ANTIBIOTICS AND THE JAPANESE GOVERNMENT FINANCES IT FOR US. WE WANT TO BUILD A POWER, ENERGY, NUCLEAR. WE WANT TO FINISH OUT THE ALASKA PIPELINE. $550 BILLION AT THE DISCRETION OF DONALD TRUMP. THIS IS THE NATIONAL SECURITY SOVEREIGN FUND GIVEN TO US BECAUSE DONALD TRUMP CREATED THIS AMAZING TARIFF STRUCTURE AND THE JAPANESE UNDERSTOOD. THEY WANTED TO GET DOWN TO 15% AND DONALD TRUMP DROVE, REALLY WHEN WE WERE NEGOTIATING, DONALD TRUMP WAS NEGOTIATING AND I WAS WATCHING AND IT WAS HISTORIC. >> Sean: BY MY COUNT WE ARE OVER $11 TRILLION IN COMMITTED INVESTMENTS FROM BOTH COUNTRIES AND COMPANIES INTO THIS COUNTRY. YOU ARE RIGHT ON THE NATIONAL SECURITY FRONT. I THINK WE IMPORT ABOUT 90% OF OUR PRESCRIPTION MEDICINES IN THE COUNTRY. >>> WE ARE NOW GOING TO MANUFACTURE THEM DOMESTICALLY. SAME WITH SEMICONDUCTOR CHIPS. NOW WE ARE GOING TO COME UP WITH OUR OWN AND MINE FOR OUR OWN RARE EARTH METALS AND MAGNETS ON TOP OF WHAT IS HISTORIC ENERGY DOMINANCE HOPEFULLY SOMEWHERE IN THE MIDDLE OF HIS TERM I’M HOPING, SOONER RATHER THAN LATER. ADD THAT WITH THE BIGGEST TAX CUT IN HISTORY, NO TAX ON TIPS, OVERTIME, SOCIAL SECURITY. HOW CAN YOU ARGUE THAT THIS IS — THIS IS THE BIGGEST OPPORTUNITY FOR AMERICAN ECONOMIC GROWTH THAT I HAVE SEEN IN MY LIFETIME. >> YOU’VE GOT THIS MORE THAN 11 TRILLION, MORE THAN $15 TRILLION WORTH OF COMMITTED INVESTMENT TO AMERICA AND THAT’S GOING TO GENERATE BUILDING ALL THOSE FACTORIES. IT’S GOING TO BE 1 HALF TO 2% GDP. DONALD TRUMP IS SMASHING OPEN THESE FOREIGN MARKETS. INDONESIA SAYS COME ON YOU CAN SELL TO US. WE WILL GET RID OF ALL THE RULES. I MEAN THESE ARE HISTORIC EVENTS AND WHEN AMERICA CAN EXPORT, ALL OF OUR BUSINESSES CAN OUT EXPORT, YOU’RE GOING TO SEE ANOTHER POINT OF GDP. THAT’S DONALD TRUMP HIMSELF BEHIND HIS DESK DRIVING TO AND A HALF POINTS OF GDP AND YOU’VE GOT THE REST OF THE COUNTRY, YOU WERE GOING TO SEE AMERICA GROW AT 4%. AMERICA GROWS AT 4%, IT FIXES EVERYTHING. IT STARTS TO PAY OFF OUR DEBT AND BALANCE OUR BUDGET. YOU TAKE THE LARGEST ECONOMY IN THE WORLD AND YOU PUT IT ON STEROIDS, THIS IS THE DONALD TRUMP ECONOMY AND IT’S COMING. >> AT 1 OF THE MOST UNBELIEVABLE THINGS IS IT’S UNDERREPORTED, WHY IS JEROME POWELL ARTIFICIALLY KEEPING INTEREST RATES UP? IF THERE’S GOING TO BE 1 LAGGING INDICATOR IT’S GOING TO BE HOME SALES AND THE SALE OF PRE-EXISTING HOMES AND NEW HOME CONSTRUCTION. NOBODY’S GOING TO GIVE UP A 2.9% FOR A 7.5% 30-YEAR FIXED RATE MORTGAGE. WHY IS HE KEEPING THEM HIGH WITH THE NUMBERS WHERE THEY ARE? >> YOU HAVE EUROPE AT 2 AND A QUARTER PERCENT. YOU HAVE SWITZERLAND AT LESS THAN 1%. WE ARE THE MOST IMPORTANT COUNTRY IN THE WORLD WITH THE GREATEST ECONOMY IN THE WORLD. WHY IN THE WORLD DO WE HAVE SUCH A HIGH INTEREST RATE? IT’S GOT TO BE CUT. DONALD TRUMP IS ABSOLUTELY RIGHT IT HAS TO BE CUT. THIS GUY HAS GOT TO GO. HE SHOULD EITHER RESIGN OR BE REPLACED. WE HAVE TO HAVE THIS SO AMERICANS CAN BUY SINGLE-FAMILY HOMES AND HAVE AFFORDABLE MORTGAGES. WE’VE GOT TO HELP AMERICANS GET IN THE DOOR OF THEIR FIRST HOME AND FINALLY WE NEED INTEREST RATES LOWER. >> Sean: THERE ARE A LOT OF PEOPLE THAT WANT TO MOVE TO A BIGGER HOME OR PEOPLE THAT ARE SHUT OUT OF THE MARKET, ESPECIALLY YOUNG PEOPLE BECAUSE THEY CAN’T AFFORD THE EXTRA MONEY BECAUSE OF THESE ARTIFICIALLY HIGH INTEREST RATES. IT SEEMS PERSONAL TO ME. IT SEEMS LIKE HE JUST DOESN’T LIKE DONALD TRUMP AND THAT’S MY INTERPRETATION

Commerce Secretary Howard Lutnick discusses President Donald Trump’s trade deal with Japan on ‘Hannity.’ #hannity #foxnews #us #trump #trade

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View 32 Comments

32 Comments

  2. @bearbearblacksheep on

    …would love someone to explain the mechanics of this "deal" …old Howie Nutlick & chums are having an awful time of it trying 😂😂😂 …..it makes more sense when I listen to Japanese TV 😮

  5. @andrew30m on

    Correction – loaning Trump $550B on a return of 10%, these must be the dumbest people on the face of the planet 😂
    Meanwhile American car makers are furious as its disadvantaged them.

  6. @roberth1148 on

    We were paying 2% tariff (tax) on Japanese goods now we’re paying 15% where’s the great deal ! Maybe trumps discretion will put the money in his pocket

  12. @mongo64071 on

    What happens if there is a Democrat in office and they direct the Japanese money be used to build stuff republicans don’t like? Then this becomes counterproductive

  13. @BongKitan-e5g on

    The best TRADE FRAME WORK TEMPORARILY IS TO REMOVED AMERICAN TRADE AND MOVED TO OTHER NATION.that is the best trade today ruther then trading with a power greed nation.all nations minus one is not. Affect the entirecwolrd.yeah some trade isxnot goodcbut temporarily lets all nation minus can be a great trades frame work.power greed is such a big damage to all nation.why we need to trade with a nation who has a power greed mind.lets moved on every boday trade with all minus the US.period

  14. @ubiquitouslady3990 on

    It's cheaper to rent these days, why tf would anyone purchase a home with rates this high? Plus all of the other expenditures that come with home ownership. The Fed must go.

  16. @ChrisD-y8q on

    Haaaaa…do you know that the Indonesian and Vietnam for US goods are nil. So basically you wont be getting any revenue.
    As fof the Japan deal….looks good on paper…but you did not nention the collateral that Japan holds on USA for the $$$. Great ready to be bankrupt….then we blame Trump.
    Generally it is not a deal….its a loan from Japan. The risk is on US…that why America take a higher portion of profit

  20. @ronaldchin944 on

    From what I just read, the Japanese banks are going to give us 550 billion dollars in loans and collect interest on those loans. Lutnick makes it sound as though it is free money and its just being given to us, which is not true.

  25. @patrickschmidt5573 on

    Japan is very happy with the deal. 15% on cars compared to what US car companies will pay in their diversified supply chain (Steel, Canada, Mexico, EU, China) , will give Toyata ,Mazda etc. an advantage producing in Japan compared to GM, Ford etc. Producing in US. Bad deal for US car Companies…

  26. @chrisgoeswest9882 on

    OK time to guzzle some more maga coolaid. First of all, the Japanese government has already stated that nothing about this "deal" is in writing and that they aren't bound by ANY of the unsupported bullet points Nutlick is announcing here. Look it up. Guys, the entire annual tax revenues of Japan is about $550 billion. Do you seriously think Japan is going to "give" 90% of their entire annual tax revenue to the US? If you do, please turn off your computer and seek help.

  28. @KevinQHall on

    Some issues:
    1) Preliminary agreement – no date given, not written yet, Japan news listing different details than Trump's claims
    2) 550 billion dollar "fund" – credit lines/loans (they're not GIVING anything)
    3) Trump guarantees that Japan has guaranteed they will buy $8 billion dollars worth of goods (Japan in 2000 bought $65 billion from the US, last year it was around $80 billion)
    4) Trump claims 75% increase in rice allowed in from the US (Japan secretary of agriculture says quota stays where it is, apparently trade rep still has to sell "trade deal" to prime minister and legislature, so that may not happen)
    5) IF rice adjustment happens, great for California rice growers!
    6) Trump claims 100 jets from Boeing – haven't heard the Japan side of this yet, or over what period of time. Japan does a few dozen Boeing jets most years anyway. Two dozen per year for 4 years = 100 jets, no change??
    7) Trump claims Japan has agreed to major defense purchases from US. Japan govt and news says, "Um…no."
    8) Trump (or his people) claim Japan will drop auto tariffs. Japan has NO tariffs on American cars currently. The only barrier to US cars is that Japan has higher safety standards. Japanese people prefer Japanese or German cars.
    9) Trump says Japan will drop safety standards for U.S. cars. Even if he does, that doesn't mean Japanese drivers will buy them.

    Bottom line: this still needs to get ratified by both sides. May not happen on the Japan end. Even if it does ALL take place, I see some benefit for Calif. rice farmers, and maybe Boeing. That's good, but I'm not overwhelmed.

    Hannity says he wouldn't want to negotiate with Lutnick…he's tough. Wow. Hannity. Really? I'm used to you kissing the a$$ of his most awesome Orangeness, but these minions as well? Have you no self-respect?