Anthony Scaramucci, a senior advisor to President Donald Trump, recently spoke at the World Economics Forum in Davos. In his statement, Scaramucci claimed that if an economic war were to begin between China and the United States, the United States would be victorious.
The Trump administration has proposed the imposition of tariffs on nations importing goods to the United States. Scaramucci stated that should China impose its own retaliatory taxes, it would cost China “way more” than it would cost the United States.
Trump’s Presidential campaign focused heavily on his promise to keep jobs in America. To that end, he proposed a 45% tariff on Chinese goods entering the United States. Scaramucci claims that while Trump is a supporter of free trade, the President believes that there is an “unfairness in the system” of the United States’ trade with China. The President wishes to balance trade with China and several other nations.
Scaramucci stated at the Forum, ”There’s an unfairness in the system that has borne a deleterious outcome for working-class families and middle-class people that Mr. Trump identified.”
Almost 16% of the United States’ trade is with China. The nations boast the two largest economies in the world. But Scaramucci stated that Beijing would be incapable of fighting against the United States in a trade war, describing the trade relationship as “asymmetrical”.
Scaramucci challenged China, saying “What are they going to do, [are] they going to move against out move for fairness?”
The statements follow an executive order pulling the United States from the Trans-Pacific Partnership. President Donald Trump also plans to renegotiate NAFTA with Canada and Mexico, claiming that the North American Free Trade Agreement is the worst trade deal in American History.
Scaramucci, founder and co-owner of SkyBridge Capital, is a hedge fund manager and former television show host.