Connect with us

Hi, what are you looking for?

Advanced Business ReportsAdvanced Business Reports

Politics

Rubio, in Europe, says US has to ‘reset the global order of trade’ and Trump is ‘absolutely right to do it’

Secretary of State Marco Rubio vowed Friday that the U.S. has ‘to reset the global order of trade’ and that President Donald Trump is ‘absolutely right to do it.’ 

Rubio, speaking at NATO headquarters in Brussels, made the remark after taking issue with a reporter’s claim that world economies are ‘crashing’ in the wake of Trump’s ‘Liberation Day’ tariffs. 

‘We have to be a country to think we’re the largest consumer market in the world, and yet the only thing we export is services, and we need to stop that,’ Rubio said. ‘We need to get back to a time where we are a country that can make things, and to do that, we have to reset the global order of trade.’ 

‘So the president rightly has concluded that the current status of global trade is bad for America and good for a bunch of other people. And he’s going to reset it, and he’s absolutely right to do it,’ Rubio added. 

The secretary of state said the ‘worst thing’ the U.S. could do is leave the global trade system ‘the way it is forever.’

‘I mean, this is, just can’t continue. We can’t continue to be a country that doesn’t make things. We have to be able to make things to provide jobs for Americans… it’s that simple,’ he added. ‘China, as an example. I mean, it’s outrageous. I mean, they don’t consume anything. All they do is export and flood and distort markets in addition to all the tariffs and barriers they put in place.’ 

Rubio added ‘If you’re a company and you make a bunch of your products in China and all of a sudden shareholders or people that play the stock market realize that it’s going to cost a lot more to produce in China, your stock is going to go down, but ultimately the markets, as long as they know what the rules are going to be moving forward, and as long as you can sustain where you’re going to be, the markets will adjust.’

‘Businesses around the world, including in trade and global trade, they just need to know what the rules are. Once they know what the rules are, they will adjust to those rules,’ he said. ‘So I don’t think it’s fair to say economies are crashing. Markets are crashing because markets are based on the stock value of companies who today are embedded in modes of production that are bad for the United States.’ 

This post appeared first on FOX NEWS

You May Also Like

World

TOKYO — Shigeru Ishiba was confirmed as Japan’s next prime minister by parliament on Tuesday, paving the way for him to officially unveil his...

World

WELLINGTON – Tens of thousands of New Zealanders rallied before parliament on Tuesday in one of the country’s largest ever protests to oppose a bill that opponents say...

World

SEOUL – South Korea’s Constitutional Court will begin on Monday reviewing the impeachment of President Yoon Suk Yeol over his Dec. 3 martial law attempt, while investigators said...

World

WASHINGTON — US Vice-President Kamala Harris leads Republican rival Donald Trump by 5 percentage points in an NBC News poll released on Sunday that...

Disclaimer: AdvancedBusinessReports.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 AdvancedBusinessReports.com | All Rights Reserved