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In another discussion with the president, Cohn unveiled a Commerce Department study showing the U.S. absolutely needed to trade with China. “If you’r… - Bob Woodward
" "In another discussion with the president, Cohn unveiled a Commerce Department study showing the U.S. absolutely needed to trade with China. “If you’re the Chinese and you want to really just destroy us, just stop sending us antibiotics. You know we don’t really produce antibiotics in the United States?” The study also showed that nine major antibiotics were not produced in the United States, including penicillin. China sold 96.6 percent of all antibiotics used here. “We don’t produce penicillin.” Trump looked at Cohn strangely. “Sir, so when mothers’ babies are dying of strep throat, what are you going to say to them?” Cohn asked Trump if he would tell them, “Trade deficits matter”? “We’ll buy it from another country,” Trump proposed. “So now the Chinese are going to sell it [antibiotics] to the Germans, and the Germans are going to mark it up and sell it to us. So our trade deficit will go down with the Chinese, up with the Germans.” U.S. consumers would be paying a markup. “Is that good for our economy?” Navarro said they would buy it through some country other than Germany. Same problem, Cohn said. “You’re just rearranging deck chairs on the Titanic.
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About Bob Woodward
Robert Upshur "Bob" Woodward (born March 26, 1943) is a journalist in the United States, known mostly for his work in helping uncover the Watergate scandal that led to President Richard Nixon's resignation, in a partnership with Carl Bernstein, while working as a reporter for The Washington Post. He has written twelve nonfiction books and has twice contributed reporting to efforts that collectively earned the Post and its National Reporting staff a Pulitzer Prize.
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Robert Upshur Woodward
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Robert Woodward
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Additional quotes by Bob Woodward
An hour into the meeting, Bossie said, “We have another big issue.” “What’s that?” Trump asked, seeming a little more wary. “Well,” he said, “80 percent of the donations that you’ve given have been to Democrats.” To Bossie that was Trump’s biggest political liability, though he didn’t say so. “That’s bullshit!” “There’s public records,” Bossie said. “There’s records of that!” Trump said in utter astonishment. “Every donation you’ve ever given.” Public disclosure of all political giving was standard.
Nearly all economists disagreed with Trump, but he found an academic economist who hated free trade as much as he did. He brought him to the White House as both director of trade and industrial policy and director of the National Trade Council. Peter Navarro was a 67-year-old Harvard PhD in economics. “This is the president’s vision,” Navarro publicly said. “My function really as an economist is to try to provide the underlying analytics that confirm his intuition. And his intuition is always right in these matters.
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