Yahoo Finance

How do you strike the balance between the administration's goal of reindustrialization in the US and the risk of isolating the US economy?

Uh, well, I I I think that they're they're not mutually exclusive. And as I I've said many times that, you know, obviously in in this trade puzzle, China is the biggest piece. Where where do we end up with China? And I said during IMF week in Washington, said, you know, it's possible that we could as Ray Dalio might say do a big beautiful rebalancing. That if we want more manufacturing, everyone agrees except Chinese leadership that they need more consumption, we could actually do that together. And then look on the other side that getting better terms of trade is not always a straight line. It's not always a pleasant process, but I think at the end, uh the trading relationships will be stronger, our security and values ties will still be there. Now, I I look back and I I think about the example of NATO and German fiscal spending. So I I lived in London for a long time, ran the Soros office there. And since he, well, forever, actually, uh that whether it was the French president, the Italian prime minister, people in Brussels were trying to break open the German piggy bank. And President Trump, not in a straight line, not in what would be what anyone would call a diplomatic manner, has gotten NATO countries to step up and meet their spending requirements. I think uh these numbers are approximate, but I think only 25% when he came in in 2017, only 25% of NATO countries were meeting their spending requirements. Now, I think only 25% aren't. So the Germans for the first time are going to allegedly do a big fiscal spin, which will drive European growth. And so can we do the same thing on trade? I think so.