U.S. President Donald Trump spoke to CNBC Monday morning to discuss tariffs against China and Mexico.
Trump said during CNBC's "Squawk Box" his decision to impose tariffs against China and threats to impose tariffs against Mexico is a result of the U.S. being "at a tremendous competitive advantage."
China is "getting absolutely decimated" by global companies because they "don't want to pay the tariffs," Trump said. As such, China is going to return to the negotiating table with the U.S. to ink a trade an agreement because they "have to make a deal."
Meanwhile, the U.S. reached an agreement with Mexico's government over the weekend that could avoid new tariffs on Mexican goods. However, Trump told CNBC the tariffs will be implemented into law if Mexican lawmakers reject the deal government negotiators reached.
In the meantime, Trump says the U.S. will remain a "great partner to Mexico" because "now they respect us."
When asked to comment on Chamber of Commerce's executive vice president Myron Brilliant who said tariffs will "hurt our country" and create uncertainty with trading partners, Trump simply responded: "He's not protecting our country."
On Big Tech
The European Union gives the impression that "every week" it's initiating lawsuits against big tech companies like Facebook, Inc. (NASDAQ: FB) and Alphabet Inc (NASDAQ: GOOGL), Trump said. The European Union is "suing them all the time" either because they believe U.S. tech giants are operating as a monopoly or they view American businesses as a target for "easy money."
Trump continued and said there is "something going on in terms of monopoly"
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Photo credit: Emily Elconin
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