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U. S. Trust, Bank of America Private Wealth Management Managing Director Joseph Quinlan discusses how much U.S. trade policies are impact the global e...
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Are you got now go to the global economy and here's a question.
How much the US trade policies hurt or help the recovery -- of quelling US trust's chief market strategist and managing director joins us live on set good morning John good morning.
They felt that people don't realize what we've got a little bit of a budding trade war going on right now don't.
We do what -- to China whether it's India even Europeans for that matter when it comes to the and there are -- space that -- is very important if you look at coming out of recession.
Exports have been in key contribute to recovery but now with the global economy slowing in protectionism is rearing its ugly head we can -- growth on Friday -- manufacturing created 111000 jobs -- supposed to have a gigantic boom in exports a gigantic on the manufacturing.
Can -- -- some of the blame on these trade policies but I think we could we could be better and smarter around our trade policies on both sides of the I'll I took a long time and it's conclude free trade agreement Colombia Panama and South Korea.
-- dole ha no one talks -- -- Maybe trans Atlantic free trade agreement should be on the table but we're not pursuing -- enough in terms of our policies how much -- stronger dollar impacting -- trade environment right now.
I think -- that'll that'll pinch earnings but to me a lot of good companies compete on their core competency store brands.
They're capital goods so they did did dollar -- -- IC indicate that it's not the case -- -- and integrating them what's really.
Hurting -- driving us what what brawl on our end of the this -- and the unions play.
The unions play in that sense of mean they have to we have to be competitive.
And if you look at the manufacturing base in the United States it's not shifting to China Mexico so to speak it's going down in southeastern part of the cut of the country.
So we're competitive whether it's union or nonunion but we have to be competitive with our cost we have to increase our core competence of this facility irony about Airbus which is a gigantic -- -- -- driven company.
Opening of up big plant in a non union state in America.
-- a lot about Alabama than nonunion state our competitiveness and so forth -- wanna be close to this big.
Manufacturing.
Customer base so it's big signs we attract a lot of foreign direct investment because we do have a competitive skilled labor force.
But we can't take that for -- we always -- -- continuously nurture that advantage let's say one thing I'm worried about is this but it does trade war with China.
Just -- there you know starting to become consumers and consumer oriented economy over solar panels I think this is done my I mean.
Who do we do we do the environmentalists have lessened so much control over the White House that we would spark a gigantic trade war over these glass panels that are already come modernize items and if not a big -- Eight I I don't understand that DD the solar part of that but what I'm concerned amounts -- this many times.
China's the big creditor too big dinner nation called America so we have to be careful we're gonna -- that beat up our -- over solar panels or any products we have to be smarter about how we treat China.
-- vice Versa we get -- -- China keep open their markets protect intellectual property.
Writes that there are big creditor were big debtor and we're gonna start there you know and that's always the Smart thing though thanks I appreciate it thank you.
