President Donald Trump Products Are Breaking His Key Promise

SHARES LUNGED 1 1% MONDAY FOLLOWING THE NEWS OF THE

>>> MY FAVORITE, MONEY, POWER, POLITICS.
ACCORDING TO THE WHITE HOUSE, IT IS MADE IN AMERICA WEEK,
CELEBRATING MANUFACTURING IN THE UNITED STATES.
SO WE DECIDED TO SHOP LOCALLY AT TRUMP TOWER RIGHT DOWN THE BLOCK
AND SEE IF THE PRESIDENT'S OWN BUSINESS IS PRACTICING WHAT HE
IS PREACHING. BACK IN JANUARY, WE FOUND THIS.
I WANT YOU TO LOOK AT THIS TOWEL.
THE TAG SAYS IT'S MADE IN CHINA. THIS BABY BIB WAS MADE IN PERU.
LONG-SLEEVED T-SHIRT, MADE IN PAKISTAN.
WE DECIDED TO GIVE IT SOME TIME AND WE WANT BACK IN APRIL AND
FOUND THE SAME THING. SEVERAL PRODUCTS MADE IN OTHER
COUNTRIES. NOW, LESS THAN 24 HOURS AGO
AFTER THE MADE IN AMERICA ANNOUNCEMENT, WE THOUGHT WE
WOULD SEE SOMETHING DIFFERENT AND MADE OUR THIRD TRIP TO THE
TOWER AND HERE'S WHAT HE WE FOUND.
THIS TRUMP GOLF CLUB HAT MADE IN BANGLADESH.
THIS TRUMP GOLF TOWEL MADE IN CHINA, ALONG WITH A TRUMP
BOBBLEHEAD. YOU CAN PURCHASE IT HERE BUT IT
IS MADE THERE. AND THIS CHILDREN'S T-SHIRT MADE
IN NICARAGUA. THIS FIRST FAMILY WITH THEIR
PICTURE ON IT MUG, WHICH YOU'RE GOING YOU HAVE TO YOUR MORNING
COFFEE WITH, NOT MADE IN THE UNITED STATES.
IT IS, IN FACT, MADE IN THAILAND.
OF COURSE WE REACHED OUT TO THE WHITE HOUSE AND THE TRUMP
ORGANIZATION TO ASK ABOUT THIS AND NEITHER RESPONDED TO
REQUESTS FOR COMMENTS. SO MY QUESTION IS, WILL YOU
PRACTICE WHAT YOU PREACH? RON INSANA AND DERRICK THOMPSON.
RON, THE WHITE HOUSE HA TO KNOW THESE CRITICISMS WOULD BE
COMING. WHY WOULDN'T THEY JUST MOVE
THEIR MANUFACTURERS? >> WELL, AS ANY MANUFACTURER IN
THE UNITED STATES KNOWS, IT'S NOT ALL THAT EASY TO DISRUPT A
SUPPLY CHAIN OR YOU GET THINGS FROM OTHER PARTS OF THE WORLD.
>> BUT YOU COULD CHANGE YOUR FUTURE CONTRACTS.
>> OF COURSE YOU CAN AND IT TAKES SOME TIME TO DO THAT, BUT
IT IS LARGELY A DO AS I SAY NOT AS A I DO ADMINISTRATION THUS
FAR. THIS IS NOT THAT SURPRISING.
AND, YOU KNOW, LOW MARGIN GOODS THAT REQUIRE LABOR LIKE TEXTILES
WHEN YOU'RE TALKING ABOUT T-SHIRTS OR TOWELS AND THINGS
LIKE THAT WERE TRANSPORTED AWAY FROM THE UNITED STATES STARTING
IN THE 1970s. RATHER INTERESTING, SOME OF
THOSE BUSINESSES ARE COMING BACK BUT THEY'RE AUTOMATED.
SO TEXTILES, FOR INSTANCE, COMING BACK TO THE UNITED
STATES, YOU HAVE ROBOTICS DOING THE WORK.
WE'RE NOT GETTING LABORERS BACK IN SO IT'S NOT YOUR FATHER'S
TEXTILE BUSINESS. IT'S A VERY COMPLICATED QUESTION
ABOUT WHAT GETS MADE HERE, WHAT SHOULD GET MADE HERE AND WHAT'S
PART OF A GLOBAL SUPPLY CHAIN THAT BRINGS PRODUCTS AROUND THE
WORLD TO US AND EXPORTED OVERSEAS.
>> IVANKA TRUMP, THIS IS WHAT SHE DOES.
SHE MAKES CLOTHING, AND IF YOU LOOK ACROSS THE BOARD, CHINA,
BANGLADESH, NOT THE UNITED STATES.
THE PRESIDENT OF HER COMPANY ABIGAIL KLEMM WAS QUOTED ON THIS
AND SHE SAID THE WORKERS NO LONGER EXIST HERE OR ONLY IN
VERY SMALL CAPACITY. THE MACHINERY IN MANY INSTANCES
DOES NOT EXIST. IT'S A COMPLEX PROBLEM.
TO RON'S POINT, IT IS. EXCEPT, OF COURSE, WHEN THESE
POINTS HAVE BEEN MADE TO THE PRESIDENT, HE SAYS, I DON'T
CARE, WE'RE GOING TO MAKE IT IN AMERICA, WE'RE GOING TO BUY IN
AMERICA. IVANKA TRUMP'S COMPANY SAYING
YOU DON'T HAVE THE OPTION. THERE ISN'T CLOTHING
MANUFACTURING IN SCALE IN THE UNITED STATES.
AND AMERICANS HAVE PROVEN THEY WANT CHEAP GOODS.
WHERE DO THEY PROVE THAT? EVERY DAY BUYING FROM AMAZON.
AMAZON PRIME DAY WAS EXTRAORDINARILY SUCCESSFUL.
WHAT'S HAPPENING IN SHOPPING MALLS?
NO ONE'S GOING THERE. >> EVERYTHING YOU'RE SAYING IS
EXACTLY RIGHT. I THINK IT'S A REALLY EASY LAYUP
FOR CRITICS OF THE TRUMP ADMINISTRATION.
YOU SAYSAY YOU'RE GOING TO, YOU KNOW, TRY TO MAKE MORE STUFF IN
AMERICA, TRY TO HIRE MORE AMERICANS, THE EXACT SAME WEEK,
IT'S EASILY PROVED, IVANKA'S COMPANY, DONALD TRUMP'S COMPANY
MAKES A LOT OF STUFF OVERSEAS. ON MONDAY, THE FIRST DAY OF MADE
IN AMERICA WEEK, THEY SAY THEY'LL GROW THE NUMBER OF
TEMPORARY VISAS FOR IMMIGRANTS IN THE U.S., HIRING NOR
NON-AMERICANS. >> FOR TOURISM AND BUSINESSES
LIKE MARLA GO. >> IT'S SO UNBELIEVABLY HALLOW
THESE THEMED WEEKS. IMPLT WEEK HAD NO INFRASTRUCTURE
PLAN. WORK FORCE DEVELOPMENT WEEK HAD
NO NEW WORKFORCE DEVELOPMENT PLAN.
MADE IN AMERICA WEEK IS FROM AN ADMINISTRATION THAT DOESN'T, IN
FACT, MAKE THEIR STUFF IN AMERICA.
IT'S SO UNBELIEVABLY EASY TO EXPOSE THE HALLOWNESS OF THESE
POLICY PROMISES. >> EASY TO EXPOSE IT SO THE
MEDIA IS GOING TO SAY WHAT ARE YOU, KIDDING ME?
HE'S GOT MIKE PENCE GOING TO THE NATIONAL RETAIL FEDERATION TO
GIVE A SPEECH TODAY WHEN RETAILERS ARE TRULY GETTING
SMOKED UNLESS YOU'RE ZARA OR H&M, WHO PRODUCE IN MASS
OVERSEAS. WHEN AND IF DOES THE RUBBER HIT
THE ROAD WITH THE PRESIDENT'S MESSAGING AND THOSE WHO VOTED
FOR HIM ON THINGS LIKE THIS? >> WELL, IT CAN'T, ACTUALLY.
THE U.S. SHOULD BE PRE-EMINENT IN HIGH-END VALUE-ADDED
MANUFACTURING. THAT'S WHERE HIGH-WAGE JOBS COME
FROM, WHERE TECHNOLOGICAL BREAKTHROUGHS COME FROM.
THAT'S WHY WE HAVE AMAZON AND COMPANIES THAT ARE PUSHING THE
PRODUCTION FRONTIER, IF YOU WILL, AND DOING THINGS THAT
AREN'T BEING DONE ELSEWHERE IN THE WORLD.
>> FACTORY WORKERS ARE SIMPLY GOING TO WORK FOR A LOT LESS
MONEY IN PLACES LIKE CHINA, BANGLADESH, AND VIETNAM.
>> HAVING SAID THAT, IN SOME MANUFACTURING BUSINESSSINESSES
U.S. IS AS COST COMPETITIVE AS CHINA AND MOST OTHER COUNTRIES.
WE HAVE A LOW COST OF ENERGY, WHICH IS THE BIGGEST SINGLE
INPUT TO MANUFACTURING, SO FOR CERTAIN SECTORS OF THE
MANUFACTURING ARENA, WE'RE DOING QUITE WELL.
>> TO YOUR POINT, THE UNITED STATES RETAIL INDUSTRY HAS LOST
80,000 JOBS. >> WORKING COAL.
>> AND STEEL AS WELL. TRUMP TALKS ABOUT STEEL AND COAL
AS IF THEY'RE THE ONLY TWO INDUSTRIES THAT EXIST IN THE
U.S. ECONOMY. WE'VE LOST MORE JOBS IN RETAIL
THAT FIST EXIST IN EITHER OF THESE TWO SECTORS.
NO ONE AT THE ADMINISTRATION LEVEL TALKS ABOUT IT BECAUSE
HONESTLY THEY DON'T HAVE A PLAN TO SOLVE IT.
THEY WANT TO TALK ABOUT MADE IN AMERICA AND HIRED IN AMERICA,
BUT THEY HAVE TEMPORARY VISA PLANS FOR THEIR IMMIGRANTS, THEY
MAKE ALL THEIR STUFF IN BANGLADESH.
ENORMOUS DISCONNECT BETWEEN WHAT STEVE WAS TALKING ABOUT IN THE
LAST SEGMENT, BETWEEN THE IMPRESSION TRUMP WANTS TO MAKE,
BEING IN THE DRIVER'S SEAT OF THE PROVERBIAL FIRE TRUCK OF
AMERICA VERSUS THE ACTUAL POLICIES HE REPRESENTS, WHICH IS
A TOTAL MESS ON HEALTH CARE, INFRASTRUCTURE, WORKFORCE
DEVELOPMENT, ACROSS THE BOARD. >> YOU WON'T GET TO THE YEAR
2050 BY GOING TO THE YEAR 1950. THAT'S WHAT TRUMP IS ALL ABOUT,
ARE E STORING JOBS THAT CAN'T COME BACK AS OPPOSED TO LOOKING
FORWARD AND HOW TO EDUCATE AND TRAIN PEOPLE FOR THE JOBS YET TO
COME. >> IF YOU WANT TO EMBRACE THE
FUTURE OF AMERICAN BUSINESS AND THE GLOBAL UNIVERSE, YOU WOULD
GET BEHIND COMPANIES LIKE GOOGLE AND APPLE WHO WILL FACE OFF
AGAINST ALIBABA, NOT THE

President Donald Trump Products Are Breaking His Key Promise | MSNBC

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