Chuck Schumer: “later this afternoon President Trump plans to announce sweeping steel and aluminum tariffs. Let me say once again, I…”

“later this afternoon President Trump plans to announce sweeping steel and aluminum tariffs. Let me say once again, I believe the President's instincts on China are correct. All those who are trying to push him away from his instincts will allow China over the next decade to become the dominant economic power and greatly hurt American jobs and American prosperity as well. So I would say: Mr. President, stick to your instincts. But while the President's instincts are correct, the execution on these tariffs is poor. That is the difference here--not the instinct, not that we shouldn't go after China, and not that we have to do more to bolster American wealth and American workers against rapacious policies of China's. China will stop at nothing, nothing, nothing, to steal our intellectual property and to manipulate its currency to exclude American companies from being there. China has been rapacious about trade, and I have spoken about this problem for years. Early on--I think it was 2004 or 2005--Senator Graham and I discovered that China was manipulating its currency. I heard it from Crucible steel up in Syracuse, NY. The great thinkers said: They don't manipulate their currency. This is protectionist.…”