Former White House adviser Steve Bannon defended President Trump’s aggressive trade moves in an interview Wednesday and dismissed concerns about how financial markets are reacting to a potential trade war.
“Ask the working people in Ohio, Pennsylvania and Michigan about Wall Street,” Bannon told Reuters. “Wall Street supported and cheered on the export of their jobs. To hell with Wall Street if they don’t like it. It’s time somebody stood up to them and Donald Trump is the perfect guy.”
Bannon called Trump’s tariffs on various Chinese imports a “full throwdown” and said they signal to China’s government that “the game of continual delay is over.”
“Trump has planned this out for a long time,” Bannon said. “It’s obvious the Chinese have no real response to this. I think they played completely into his hands. By putting tariffs on agricultural products and avoiding addressing the technology questions they’ve shown once again they consider us nothing more than a tributary state.”
Investors are concerned about a potential trade war between China and the United States and markets have been rattled by the threat. China announced additional tariffs on U.S. goods Monday and Wednesday in response to tariffs imposed by the Trump administration.
“This is the beating heart of American capitalism: Technology innovation that the Chinese have either stolen or forced American companies to turn over. Trump has signaled that those days are over,” Bannon told Reuters.