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Senator Lindsey Graham spoke about the ongoing trade war with China during an interview Sunday on CBS's "Face the Nation." Graham warned we are reaching the "part of the trade war where you feel the price is rising at Walmart"
"The Chinese government, the Chinese army and the Chinese business world are all one, they are very traders," Graham said. "The Chinese Communist Party runs everything in China, so long as they do not feel the pain, they will not stop."
"I think they're trying to wait for Trump," he explained. "I think that they have calculated that our elections are imminent.They can play this game until 2020. If Trump continues to do a lot of things, I do not know if they can do it so long because the supply chain begins the more expensive it is to manufacture products in China, the more likely you are to relocate the supply chain, which would bring a fatal blow to the Chinese economy. "
CBS, MARGARET BRENNAN: What pain should the people of South Carolina be prepared for?
SEN. LINDSEY GRAHAM: Some. Consumer prices of products will increase. We are now in this part of the trade war where you feel that prices are rising at Walmart. The president backed down because he was worried for the Christmas shopping season. I will tell you, Mr President, listen, you have more bullets than them. They sell us a lot more than we sell and the goal is to change their behavior. The Chinese government, the Chinese army and the Chinese business world are only one. They are very mercantile. You do not have these disputes between democracies, but the Chinese Communist Party manages everything in China. Until they feel the pain, they will not stop. They need to change their practices regarding the theft of intellectual property. They must open their markets. They must become a reliable trading partner rather than a trading system that misleads everyone on market shares.
MARGARET BRENNAN: And a lot of people, as you say, support the president, because China has not agreed to do these things …
SEN. GRAHAM: It's true.
MARGARET BRENNAN: – until here …
SEN. GRAHAM: And they'll never do it before paying a higher price.
MARGARET BRENNAN: So you may not think that after the election …
SEN. GRAHAM: I think they're trying to wait for Trump. I think that they have calculated that our elections are imminent. They can play this game until 2020. If Trump continues to gag, I do not know if they can stay that long because the supply chain is starting to move. The more expensive the manufacturing of products in China, the more likely you are to relocate the supply chain, which would be a fatal blow to the Chinese economy.
MARGARET BRENNAN: This has been happening for some time, but you too, because South Carolina has a lot of auto factories in particular–
SEN. GRAHAM: The prices of steel and aluminum have made us suffer a lot. But you know, the steel and aluminum sector has a chance to come back. China has produced more steel in one year than the world has consumed. It is an unfair commercial practice. They should be part of the WTO as a developed country and not a developing country. Everyone – I received an invoice with Chuck Schumer seven or eight years ago to qualify China as currency handler and impose a 27.5% tariff on each product benefiting from monetary manipulation. Bush would never do it. Obama would never do it. Trump did it. So, to my fellow Democrats, he's doing what you call all these years.
Watch the complete segment via CBS:
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