Practice English Speaking&Listening with: Mnuchin: Trump's ‘reviewing all his options’ when it comes to China

THEY WANT TO KEEP THEM CLOSED.

CAN’T DO THAT.

LOU: PRESIDENT TRUMP ON FOX

BUSINESS TODAY MAKING SOME OF

THE STRONGEST COMMENTS TO DATE

ABOUT HOW HIS ADMINISTRATION

PLANS TO DEAL WITH CHINA’S LIES,

ITS COVER-UP AND REFUSAL TO WARN

THE WORLD ABOUT THE SEVERITY OF

THE WUHAN VIRUS THAT IT

UNLEASHED.

HERE HE IS.

>> THERE ARE MANY THINGS WE

COULD DO.

WE COULD DO THINGS, WE COULD CUT

OFF THE WHOLE RELATIONSHIP.

WHAT WOULD HAPPEN?

YOU’D SAVE $500 BILLION.

IF YOU CUT OFF THE WHOLE

RELATIONSHIP.

LOU: PRESIDENT TRUMP TALKING

WITH MARIA BARTIROMO THIS

MORNING.

JOINING US TONIGHT IS TREASURY

SECRETARY STEVEN MNUCHIN.

MR. SECRETARY, GREAT TO HAVE YOU

WITH US, AND LET’S BEGIN WITH

THE PRESIDENT TALKING ABOUT THE

PROSPECT OF ACTUALLY CUTTING OFF

THE RELATIONSHIP WITH CHINA.

HIS DISPLEASURE IS CLEAR.

THE ACTS OF THE CHINESE ARE

CHRIS CALL CAREER -- CRYSTAL

CLEAR.

YOUR THOUGHTS TONIGHT.

>> LOU, IT’S GREAT TO BE BACK

WITH YOU AGAIN.

ASK IF AS YOU SAID, THE

PRESIDENT IS CONCERNED.

HE’S REVIEWING ALL HIS OPTIONS.

OBVIOUSLY, WE’RE VERY CONCERNED

ABOUT THE IMPACT OF THIS VIRUS

ON THE ECONOMY, ON AMERICAN

JOBS, THE HEALTH OF THE AMERICAN

PUBLIC, AND THE PRESIDENT IS

GOING TO DO EVERYTHING TO

PROTECT THE ECONOMY AND PROTECT

AMERICAN WORKERS.

LOU: IT IS, THE IS MAKING

STRONG -- THE PRESIDENT IS

MAKING STRONGER AND STRONGER

STATEMENTS, MR. SECRETARY.

WE ARE HEARING ALMOST NOTHING

FROM WALL STREET.

WE’RE HEARING ALMOST NOTHING

FROM CORPORATE AMERICA.

WE’VE HEARD FROM THE CHAMBER OF

COMMERCE, BUT THEY’RE TALKING

ABOUT REMOVING TARIFFS, SORT OF

A MAD INTERLUDE FOR THE CHAMBER.

BUT WE, MOST IMPORTANTLY, HAVE

NOT HEARD A WORD FROM THE

CHINESE GOVERNMENT EXPRESSING

REMORSE, EXPRESSING CONTRITION

IN ANY WAY COMMUNICATING TO THE

AMERICAN PEOPLE, THE PEOPLE OF

THE WORLD ABOUT WHAT THEY HAVE

DONE HERE IN NOT -- CHOOSING

CONSCIOUSLY NOT TO WARN THE

WORLD OF UNLEASHING THIS DEADLY

CONTAGION.

THAT IS IMPOSSIBLE TO IGNORE,

AND IT IS AT THE VERY LEAST

EXTRAORDINARILY A DIFFICULT AND

COMPLEX MATTER TO RESOLVE.

YOUR THOUGHTS.

>> WELL, LOU, I AGREE WITH YOU,

IT’S A DIFFICULT AND COMPLEX

MATTER, AND THE PRESIDENT HAS

MADE VERY CLEAR HE WANTS MORE

INFORMATION.

THEY DIDN’T LET US IN, THEY

DIDN’T LET US UNDERSTAND WHAT

WAS GOING ON, AND THE AMERICAN

PUBLIC HAVE THE RIGHT TO

UNDERSTAND ALL THE FACTS.

LOU: THEY DO, INDEED.

AND IT’S, IT’S PRETTY CLEAR

AMONGST THE FACTS THAT WE CAN

MARTIAL IS THAT CONSCIOUS

DECISION ON THE PART OF

PRESIDENT XI NOT TO WARN THE

WORLD.

THAT’S SIMPLY UNFORGIVABLE AS

WELL AS UNCONSCIONABLE, IS IT

NOT?

>> I AGREE WITH YOU, LOU.

THERE SHOULD HAVE BEEN A LOT

MORE INFORMATION COMING OUT OF

CHINA, AND THE PRESIDENT IS

REVIEWING THE SITUATION.

LOU: WELL, LET’S TURN TO THE

ECONOMY.

THE DEVASTATION WROUGHT BY THE

WUHAN VIRUS.

THE DAMAGES, EXTRAORDINARY.

YOU HAVE TALKED ABOUT IT AS AN

UNPRECEDENTED EVENT AND

CERTAINLY IT IS.

WE ARE LOOKING AT TRILLIONS OF

DOLLARS BEING ADDED TO THE

NATIONAL DEBT.

THE FEDERAL RESERVE BALANCE

SHEET IS SKYROCKETING TOWARD $8,

9 TRILLION, WHO KNOWS, AND WE

HAVE A FEDERAL RESERVE CHAIRMAN

STEPPING UP YESTERDAY TO TALK

ABOUT HOW DIFFICULT AND HOW

SEVERE THIS DOWNTURN IS.

TOTALLY UNHELPFUL, TO PUT IT IN

THE KINDEST TERMS I CAN, AND

WITHOUT TALKING ABOUT ANY OF THE

POLICIES THAT HE WILL PURSUE OR

SOLUTIONS THAT HE MIGHT OFFER.

THE FED CHAIR, YOUR, YOUR SENSE

OF HOW WELL THE COOPERATION IS

BETWEEN YOUR DEPARTMENTS, THE

ADMINISTRATION AND THE FED AND

WHAT IN THE WORLD JEROME POWELL

THINKS HE’S DOING AS FED CHAIR.

>> WELL, I THINK THE, LOU, FIRST

OF ALL, LET ME JUST START WITH

WE HAD AN UNPRECEDENTED RESPONSE

FROM CONGRESS, $3 TRILLION.

WE’RE PUTTING THAT MONEY INTO

THE TRY.

WE’RE JUST BEGINNING TO SEE THE

IMPACT ON THAT.

THAT’S VERY IMPORTANT.

AS PART OF THAT, WE HAVE OVER

$450 BILLION THAT WE CAN WORK

WITH THE FEDERAL RESERVE.

I MUST SAY THEY’VE BEEN A

TERRIFIC PARTNER WORKING WITH US

ON THESE FACILITIES.

WE’VE APPROVED ABOUT $2.5

TRILLION, AND IF YOU LOOK AT THE

CORPORATE BOND MARKETS, JUST THE

MERE FACT THAT WE ANNOUNCED

THESE FACILITIES WITH THE FED

UNLOCKED RECORD ISSUANCE OF

CORPORATE BONDS.

SO COMPANIES LIKE BOEING COULD

BORROW IN EXCESS OF $25 BILLION.

SO I THINK, I THINK YOU’RE BEING

A LITTLE HARSH ON THE FED AT

THIS POINT BECAUSE THE FED HAS

REALLY DONE A GREAT JOB WHETHER

IT’S THE MONETARY POLICY OR

WORKING ON THESE FACILITIES.

THIS IS WHAT’S KEEPING AMERICAN

BUSINESS ALIVE.

LOU: I’M BEING PERHAPS HARSH, I

DON’T MEAN TO BE, I’M JUST

TRYING TO BE STRAIGHTFORWARD

ABOUT IT.

A FEDERAL RESERVE CHAIRMAN, IN

MY EXPERIENCE, WHO TALKS AS

JEROME POWELL DOES WITHOUT

CONSIDERATION FOR BOTH EFFECT

AND PROSPECT OF A POLICY

SOLUTION IS, IS FRANKLY

CONTRIBUTING TO THE PROBLEM

RATHER THAN SOLVING IT.

THAT’S BEEN, I THINK, THE

HISTORY OF FED CHAIR, CHAIRMEN,

FED CHAIRS.

DON’T YOU THINK?

>> LET ME JUST SAY I THINK THE

GOOD NEWS IS WE GOT APPROVAL TO

SPEND $3 TRILLION.

THE GOOD NEWS IS INTEREST RATES

ARE REALLY LOW, SO WE DO CARE

ABOUT A DEFICITS, BUT WE CAN

BORROW THIS MONEY FOR 10, 20, 30

YEARS, LOCK IT UP AT CLOSE TO

ZERO IN MANY CASES OR 1% ON

LONG-TERM BORROWING.

SO WE’RE GOING TO DO EVERYTHING

WE CAN.

THE PRESIDENT IS DETERMINED TO

PROTECT THE U.S. ECONOMY AND

U.S. WORKERS AND OPEN UP IN A

SAFE WAY.

LOU: I THINK THAT’S LAUDABLE,

AND I CERTAINLY AM CHEERING BOTH

YOU AND THE PRESIDENT, THE

ADMINISTRATION AND, YES, THE

FEDERAL RESERVE ON AS YOU DO SO.

NOW COMES THE SPEAKER OF THE

HOUSE WITH A $3 TRILLION

ADDITIONAL PIECE OF LEGISLATION,

A THIRD OF WHICH WOULD GO TO

STATES AND OTHER GOVERNMENTS.

I MEAN, IT LOOKS -- THIS LOOKS

LIKE UTTER MADNESS TO ME,

MR. SUCCESS SECRETARY.

WHAT -- MR. SECRETARY.

WHAT DOES IT LOOK LIKE TO YOU,

WHAT SHE HAS PROPOSED?

>> WELL, I THINK THE SPEAKER IS

OFF WORKING ON HER OWN AS

OPPOSED TO ON THE LAST TWO DEALS

WE HAD ENORMOUS BIPARTISAN

SUPPORT IN THE SENATE.

YOU KNOW, WE PASSEDDED ONE 96-0,

ONE 100-0.

WE HAD TREMENDOUS SUPPORT.

I THINK OUR VIEW IS LET’S TAKE A

STEP BACK FOR A FEW WEEKS, LET’S

SEE HOW THE $3 TRILLION WE JUST

GOT APPROVED IS WORKING.

AND I THINK IT’S PRETTY CLEAR

THAT WHAT THE SPEAKER IS DOING

IS A PARTISAN POSITION THAT

ISN’T GOING TO GO ANYWHERE IF

THEY PASS IT IN THE HOUSE.

LOU: YEAH.

IT’S UNCLEAR WHAT KIND OF

PARTISAN POSITION IT IS BECAUSE

IT WAS CONSTRUCTED WITHOUT

BENEFIT OF CONGRESS BEING IN

SESSION, AS YOU WELL KNOW.

BUT THED IDEA THAT A TRILLION

DOLLARS WOULD BE GOING TO

GOVERNMENTS ALL BEING TREATED

EXACTLY THE SAME IN WHAT WE’RE

DEALING WITH THIS SOME CASES --

IN SOME CASES, SOME OF THE MOST

IRRESPONSIBLE STATE GOVERNMENTS

IN THIS COUNTRY’S HISTORY.

AND TO SUPPORT THAT KIND OF

BEHAVIOR, CONDUCT AND POLICIES

OR THAT ARE LED BY VARIOUS

GOVERNORS ACROSS THE STATE WOULD

BE IRRESPONSIBLE, DON’T YOU

THINK, OF THE FEDERAL

GOVERNMENT?

>> WELL, WE HAVE MADE VERY CLEAR

THAT WE ARE NOT BAILING OUT THE

STATES FOR PREVIOUS ISSUES AND

BAD MANAGEMENT AND PENSION

PROBLEMS.

ANY OF THE MONEY, AND WE DID

APPROVE $150 BILLION THAT’S

GOING TO THE STATES FOR

CORONAVIRUS EXPENSES, WE ALSO

APPROVED IT COULD GO TO

POLICEMEN, FIREMEN, FIRST

RESPONDERS, SO WE MADE SURE THAT

NONE OF THOSE PEOPLE GOT LAID

OFF GIVEN WHAT THEY’RE DOING

PROTECTING US.

BUT FOR NOW WE DON’T NEED MORE

MONEY IN THE STATE, WE NEED TO

SEE HOW THIS PLAYS OUT.

AND WE’RE WORKING HARD TO GET

ALL THIS MONEY OUT INTO THE

ECONOMY.

LOU: OUT INTO THE ECONOMY AND

OUT TO THE MEN AND WOMEN IN THIS

COUNTRY, WORKING MEN AND WOMEN

AND THEIR FAMILIES WHO NEED IT

MOST.

YOU HAVE DONE A MAGNIFICENT JOB,

MR. SECRETARY, AND WE APPLAUD

THE ADMINISTRATION AND YOU FOR