Watch CNBC's full interview with Steve Bannon on trade, 2020 and Ukraine probe

you know joining us from Athens today Greece is the squawk news maker of the hour you bring us some great shots Steve that is it that's a beauty it looks very familiar up there kind of that structure looks a little rundown looks like a dead they've neglected some infrastructure over there as well in Greece I think but welcome this morning that's a great shot just of the Parthenon that's the hope that's the home of Democritus a home of democracy the Acropolis and the Parthenon so I'm here just finished debating bernard-henri lévy on levy on globalism versus nationalism here in Athens who won you'll have to ask the New York Times they sponsor it now I'll let the I'll let the judges call it yeah I feel pretty good though yeah okay a fair answer there ah no no we would we would so I don't know what you think about the latest developments Treasury secretary Venetian was smiling no teeth but smiling yesterday everybody seemed to be getting along pretty well we've started calling this what may come out of this a skinny deal is that what you expect and is that something that that we should have probably expected all along and not what you would have done is it is it a half measure should we have stayed longer at the table to get more out of this well look it's Joe I think this shows the power of president Trump's program in his negotiating position I mean the fact that you know you've had early in the week all these announcements about increased agriculture purchases increased port purchases I think you had something on the CMB site see site earlier this morning about potential financial services opening up in China and you just had I think a guest on the previous segment of mr. Khan about the strength of American manufacturing American economy so you know President Trump his policies in as a negotiating position have worked remember the key here is the state-owned industries and the forced technology transfers the bigger overall deal to restructure their economy that was this may transaction that light hyzer and vice premier leha negotiated you know China is hurting so much by these tariffs and what they're trying to do is anything possible to get President Trump I think to delay or either nullify the octo tariffs so I wouldn't be surprised today if you saw some interim deal as I've been talking about they might they might do some interim deal but president Trump's very focus I think on the overall deal that starts to bring the supply chain back to the United States so this will be I think inter strictly linked to something bigger more powerful but you know he's up against the cheerleading section of Wall Street and the Chinese that have been you know for the last three weeks signaling this but I believe this shows the strength of his negotiating position and so if we see something that dates on the smaller side I think it's an overall to our larger transaction clearly you know the Hawks and the super Hawks want to see the entire deal and want to see that supply chain coming back and I think you saw President Trump last night in Minnesota his focus is to bring high value-added manufacturing jobs back to the United States Steve those speak to this that there's a concern that if you take a small deal now it actually will give the Chinese leverage that it actually won't give the president president trumpet is more leverage to actually get to the bigger deal yeah I think I think that if you see particularly the way that he deals these tariffs in October I think you'll see that whereas the negotiating leverage years remember Trump's a master knowing how to use negotiating leverage so I think that this deal will clearly have Springs toward our our sets to if there is a deal that leads to go back if there's any recalcitrants or any slow walking remember the two key things are the subsidies the state-owned industries in the force technology transfers that's the beating heart of this kind of reorganization of the Chinese economy this integration into the world economy and what will start to lead supply chains back to the industrial democracies including the United States is one of the reasons us MCA which you know really needs to get passed is so important it's part of this whole overall trade package the president Trump's been working on so remember the devil is going to be in the details here but this once again I think shows you it's the Chinese that are coming and offering all types of opportunities all types of give ups to get to get the tariffs off thing he was right from the beginning the tariffs have forced them to the negotiating table this is what the wall street cheerleading section has forgotten it's the tariffs that have forced the Chinese to the table so I think you'll see the details where if there is something announced they were president Trump believed himself plenty of room to go back if there's any backsliding or any lack of focus and trying to get the overall light Heiser deal eventually done hey Steve I think you're going to agree with this op-ed this was an op-ed in The New York Times just yesterday we were talking about it's it's a quote that I think almost you could have written he says a darker to a darker truth is now dawning on the world China's economic miracle hasn't just failed to liberate Chinese people and this is a part I'm curious whether you'll agree with it is now also routinely corrupting the rest of us outside of China this column referring I think to freedom of speech issues related to the NBA what's your take on that you know we've talked about this many times in the show of the last six months this is the whole what president trusts been laying out and what really caused frankly with the Hawks and groups like the Committee on the president danger been talking about the CCP and the kind of globalist and the party of Davos have infected the entire global system and and really you've seen that this week in the NBA fiasco what was really shocking is ESPN last night put up the map of China and included the seven dots that included this this highly controversial area in the South China Sea that the Chinese just take for their own sovereignty away from the nations of the world and away from international law it's stunning to me how they've corrupted have they've corrupted corporate America and really corporations around the world but this is what people have been saying and I think now you're seeing it so whoever wrote that yes and agree with it quite frankly wish I'd written it myself Steve what's the alternative I mean you look at so many multinational companies US companies that do a lot of business there but also have supply chains there and Apple obviously comes top of mind they've done things like when they report their sales they report sales for Greater China which includes Hong Kong and Taiwan which is the way the Chinese like to have these things done they've taken apps off of different situations but these are companies that say they are operating under the laws of the nations that they are serving and that they trying to promote democracy and their way of thinking freedom of speech that they can't exactly do things that that country considers to be illegal is the alternative that you can only operate in country no they operate the thing is you get it there are certain rules that you ought to make country that you ought to be able to as a company to abide by in China which is really you know with the Uighur situation with the human of the organ harvesting the suppression of the Chinese people remember the Chinese workforce is basically a slave labor workforce that's what the people in the hawks on the right and president Trump's have you've been saying that the slave labor force is really making goods for the unemployed and underemployed in the industrial democracies that's a the tragedy of what this Frankenstein monster that the City of London Wall Street in the giant corporations have allowed to be built you have to stand for something more than the bottom line remember in the in the great period of American capitalism our country our company stood for something more than just the bottom line they stood for basic American values and basic values of the West look I'm here in the home of democracy right you know a mile from the Parthenon you know what we are we were bequeathed this and companies like Apple and these companies have to stand up and this is not just some marginal thing yes every country is going to have certain you know certain things that are that you have to buy buying their business code but these are fundamental about human rights look at the streets of Hong Kong we've talked about this guys now for since June 9th look at that's the fight for capitalism that's English common law in Chinese tenacity has has built has built Hong Kong but that is maybe what's happening in those kids are fighting what do you say to every American company doing business in Saudi Arabia or any other country Russia or I mean you can go down the list what's the answer then look and look I don't think you see there's clearly not in Saudi Arabia or Russia what you see in China okay you don't see that what they're doing to the Weir's you don't see what they're doing this to the Benton Buddhists in the Dalai Lama you don't see what they're doing to the house Christians in the underground Catholic Church you don't see the human or harvesting of organs the Chinese counties party this is not the Chinese people the Chinese Communist Party are suppressed by these people clearly the monarchies in the in the in the Gulf and Russia have certain problems and I think America is trying to address those problems and trying to address those problems clearly with our allies in the Middle East and certainly you're seeing a liberation a localization starting there in Russia we've got to confront with the kleptocracy is doing there but you can't compare any of those to what the Chinese Communist Party's doing and finally people are stepping up to corporate America is getting Smash Mouth now by the CCP for what are just small you know small outside the outside their lanes and you see that these people are dropping the hammer on them I think this is a lesson for every American exactly how the Chinese Communist Party treats their own people hey Steve I don't want to take anything away from what they're doing to the leaguers that's one and a half million people that they put in re-education camps and they're holding back and nothing from that at all but if you look at places like Saudi Arabia women for a long time have not had any sort of freedoms and you're right things are opening up in different places but again I just want to say yes I agree I agree with you I agree that looked at women and you've seen with mb/s you know with all his faults you're starting to see they're getting driver's license and nobody supports the suppression that nobody supports the suppression of really the Christians in Saudi Arabia but you can't compare that to the weavers these are not react Asian camps these are concentration camps okay and we finally put sanctions on the companies that are doing it you've seen what they've done with the organ harvesting you've seen what they done to the Tibetan Buddhists and the Dalai Lama underground Christian Church and their own people you cannot compare the Gulf Emirates you can't compare Russia with all of their faults you can't compare those with what the Chinese Communist Party has done to its own people and you see that in the streets of Hong Kong every day unfortunately see the NBA situation really drove home the market opportunity in China which is you know the elephant in the room that it's going to be hard you know to to go after your own interests and with I mean a clean divorce from China would we've got 500 million basketball fans NBA fans in China we got 300 million people in the whole United States so that that drove home to me the type of market potential there is for everything in China and that's why for 25 years we've sort of been able to look away because we're getting all this cheap stuff from Walmart and and you know inflation stays low I don't see how you have a a a full divorce from a market opportunity like that Steve and I I mean I know that it's about problematic I can see I get I I can see how you have a decoupling we're going down to decoupling right now it's the Chinese that are in Washington DC to try to present President Trump with least an interim step because they know the path he's going down is a decoupling they're they're petrified about that in Beijing and they see that the West can actually do that will there be some disruptions absolutely be some perturbations absolutely but believe me the industrial democracies in India and Japan South Korea the supply chains can all come back home all of it to Western Europe and that's why the u.s. said the u.s. MCA is so important you can actually see this happening companies are going to have to understand the CCP is a totalitarian dictatorship and they're seeing this if they want to be in business with that then let their shareholders and let their Board of Directors bear the fiduciary responsibilities that let history guide them but I will tell you if we take a hard line here you're gonna see massive changes in China you're gonna see massive changes the freedom of the Chinese people is going to be the greatest story of the first half of the 21st century and one of the people that have driven that with all the grief he gets is Donald Trump and I think you're going to see today what the Chinese are prepared to do to get away from his tariffs because they want those October 15 tariffs either push back or removed so last time you were on I think just just to switch gears just for the final part of the interview you were talking about some of the the toss-up states and that it was gonna be tough but but I think in the backdrop we were thinking about Biden are you with the he was the presumptive frontrunner then I don't know whether it's changed with everything we've seen all the other stuff in the past two weeks but how would would an Elizabeth Warren presidency what is trying to think of Elizabeth Warren and what do you think of her chances if she did become the nominee what's interesting you know she's just coming out with now the series of white papers she's actually trying to get to the right of President Trump except for her not fully understanding the tariffs if you look at Elizabeth Warren you look at some of the Democrats they're trying to get to the right of President Trump on China one of the reasons they understand that Biden is compromised by China they understand in the Upper Midwest in these primaries they've got a real opportunity blow Joe Biden out of the water because Joe Biden is totally compromised his family's compromised and he's compromised with this history during the Obama administration particularly about the South China Sea and other issues that's why I said it I think I've said this from the beginning is that Elizabeth Warren is going to have a centrist challenger that will either be Michael Bloomberg and I think I said on your show Hillary Clinton I think Clinton in Bloomberg are looking as Biden starts to collapse and I think Biden's collapse is pretty intimate by November December I think you're gonna see a centrist challenge Elizabeth Warren and we'll see how that plays out but I think that Democrats in the wanting to replace Donald Trump understand that Elizabeth Warren and some of the populous have been so driven to the left particular some of her things about capitalism some of her things about these asset taxes they've been so driven to the left that a centrist is going to have a real opportunity here and I don't discount at all that you may see an ally Frazier you know rematch and Hillary Clinton and Donald Trump right Steve what's your political calculus on the potential impeachment of a president Trump and what that does both in terms of the election and even potentially these trade talks with China especially given the the indictment yesterday of these two Associates of Rudy Giuliani look Chris ruddy is is a friend of the presidents and what Chris said the other night I think was on NBC when he said the other night that he thinks of this impeachment is a moral threat to Trump's presidency I believe that's true and I think that the president's got the whole burden of everything right now in the shoulders of defending myself on a Pietschmann negotiating with China dealing with the situation in the Middle East with the with the Kurds you know the staff at the White House has to step up somebody's got to step up and understand that if you look at the polling right now the narratives going in the wrong direction me president Trump I think is galvanized his base his actions galvanized his base particularly things like trade the wall and getting out of these endless Foreign Wars the battle is going to be in those 40 districts the Democrats run in particularly the 26 that went to president Trump in in 2016 I think a focus has to be on that I think Nancy Pelosi understands there's no one thing as I've said before no one smoking gun but as this process she's going to have to wear down President Trump look he's a fighter and he's a counter-puncher so we're going to see in the coming days a week but other people it's a team effort and other people are going to have to step up to get this narrative right the president states can't do everything he can't negotiate every deal he can't be the communications director he can't be the head of his legal it can't be the head of messaging he can negotiate of Congress and particularly with the geopolitical situation in China in the Middle East in NATO somebody's gonna have to step up and really help the president here I think if he gets the help that he's needed by the White House staff he got a lot of confident people in there he got a lot of great people if people step up and do this and he adds some people to his legal team and particularly since Rudi's had these and I and I love Rudy Giuliani but he's had these issues in the last 24 48 hours you may you may need to restate the legal team also do any of the allegations against the President or Rudy Giuliani disturb you at all the president no I think the president is kind of I think it's normal course of business I think those I think those are questionable by a lot of people I clearly don't think they rise a level of impeach ability at least what we know now but that's not the point Nancy Pelosi's no she's got the votes she's going to bring to I articles of impeachment and they're gonna vote on them this is just all a show this like a Moscow show trial so that process is going to go on but that's the political reality remember this is not legal the Rudy what the entire thing and I love Rudy but some of this messaging even he saw on Laura Ingraham that other shows where he really starts talking about these investigation he's doing and what's going on there's a process in the House Intelligence Committee much of this information is known and this information was in these 40 subpoenas that were given the Rosenstein this is what I said on trish regan the other night is just let all that information ought to come out the american people ought to see all of that and I think that's why Nancy Pelosi and the Democrats are holding off a vote in the house because they don't want any possibility of due process they don't want the president to be able to get his side out so I think the American people are going to have the highest part of political drama over the next six to eight weeks and really I think not just Trump's presidency but really the direction of the country in particularly China who is watching this very closely they believe that trumps getting weakened by impeachment but I think that president Trump's thinks he actually may be strengthened by this process so before we let you go Steve you mentioned the the possibility of a nollie Fraser rematch what at this point in time what do you think the chances are that that Hillary Clinton is is gonna jump jump into this in 2020 do you think it's thirty percent ten percent as as Joe Biden implodes and I think that when I define implosion as when he drops out of number one in Iowa New Hampshire and South Carolina when he goes below that not national polls and he goes below that I think your son Elizabeth Warren is going to have a centrist challenger Kamala Harris and other people haven't been it will step up if it takes Hillary Clinton or if it takes even Michael Bloomberg she's going to have a centrist challenger that's going to be a real primary so I think as you see Biden go down I believe it could be a high probability that Hillary Clinton may be the first into challenger I don't think that centrist Democrats in the Wall Street faction that controls that expert the Democratic Party are prepared to just give the nomination to Elizabeth Warren now that Bernie Sanders has had his health issues and Joe Biden has start to by being compromised by China and also just how weak his campaign and as his fundraising I don't think they're prepared to turn it over to Elizabeth Warren particularly the fact that she's so far radicalized on so many policies they think may turn off people in the Upper Midwest so I think she'll have a centrist challenger I think that challenge was going to be Hillary Clinton you

Channel: CNBC Television

Views: 129,318

Keywords: Squawk Box U.S., CNBC, business news, finance stock, stock market, news channel, news station, breaking news, us news, world news, cable, cable news, finance news, money, money tips, financial news, stock market news, stocks

Id: ElR9gHXraKw

Length: 19min 15sec (1155 seconds)

Published: Fri Oct 11 2019