President Donald Trump launched a "preemptive strike" with tariffs on China, and the discussions that occurred as a result will have a positive impact when it comes to trade, and that is being reflected in the stock market, former White House Chief of Staff John Sununu said Monday.
"People, I think, are realizing with the comments, particularly from the treasury secretary over the weekend that these opened up discussions, which could in long run have very positive impacts on the trade relationship with China," Sununu, who served under former President George H.W. Bush, told Fox News' "America's Newsroom."
In addition, Sununu said, the president is trying to reduce the trade imbalance by $100 billion, and if that occurs, "that's a couple million jobs in the U.S."
People are not accustomed to Trump's style, but he "launched a preemptive strike, if you will, with the tariff," and now the Chinese are at the table, discussing things.
"I think people are not accustomed to the style that this president has, but he launched a preemptive strike, if you will, with the tariff," said Sununu. "Now he's got the Chinese to the table discussing things. That's what I assume he wanted to get done. It should be positive and the market is reacting in a very positive way."
Sununu added that when people start getting bonuses, or they or their neighbors start working more, things look better.
"I think it's all based on reality rather than just perception," he said. "People are making more money and they are working longer hours."
Sununu said he also believes that Trump will also start to get more credit for the economy as people start seeing the impact of the tax cut bills on their paychecks.
"I think 2018 is going to be different than a lot of the pundits are talking about right now," the former New Hampshire governor said.
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