China, Kansas, Ron Estes discussed on Here & Now

Here & Now
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I'm Robin young. I'm Jeremy Hobson it's here. And now the Dow Jones industrial average dropped more than seven hundred points this morning after news that a Chinese executive from the tech company while way was arrested in Canada at the request of the US. There's concern that this will further escalate the trade war with China days after a temporary truce congressman Ron ESTES represents the fourth district in Kansas. He's a Republican it's an area that depends on trade with China. Because of its agriculture cartoon when you saw the markets dropping today after this arrest what you make of it. Well, I think there's probably two pieces of that one. The stock market goes up and down of you look at it the last couple of years, it's up. It's up a lot. You know now in the last few weeks it's been up and down on a week by week basis. So you'll see a lot of movement on on the market, depending on on news that comes up, but I think one of the important things about the the most recent news is that we've been in this ongoing trade war for a long time with with countries like China, and a multiple cases that have been filed against them, and they found guilty of stealing intellectual property. And and that's the concern that we want free and fair trade. I mean we wanted in our manufacturing facilities. We wanted in our agricultural areas. And we want to have open markets in China wants to trade in a free world with open markets than every country ought to follow the same rules, and we want to make sure that that happens. So do you think that President Trump should get rid of the tariffs on China and other countries, or or do you think that it's a good idea to keep them in place that at the end of the day tariffs are not a good idea? I mean, we want to have open markets. We're going to have free trade. You know in an ideal world, we wouldn't have any terrorists at all. I think the prisoner even said that once or twice in g twenty but he did just call himself tariff man, the other day, he said, man. Yeah. Unfortunately, the whole process to get to that free and fair trade is terrorist may be the only avenue that you have to really bring people to the table to negotiate how much your farmers in your district being hurt by the tariffs that that are being put on products that they produce. I I think the what we're seeing a lot is the the anti-terror reaction we've seen some grain prices down. But then they were they were on the way down over the last three or four years, the farmers that I talked to overwhelmingly they wanna have open markets. They wanna have this dispute resolved. But they wanna make sure that it's done fairly. And we make sure that it's a lasting agreement that works for everybody. I want to ask you about taxes because you were the state treasurer under Sam Brownback, the former governor. There in Kansas who was a big fan of tax cuts put for a big tax cuts. Many looked at it and said it they didn't work out the way that he wanted them to. And in fact, the Republican legislature ended up over riding his veto to get rid of them. What do you think about those tax cuts that happened in Kansas? Do you think that they were a failure? Well, I think what you see is a couple of differences. If you compare the the Kansas tax cuts versus the tax cuts at the federal level on one aspect. You didn't get the growth out of Kansas at the time. The tax cuts came in the all markets dropped so old and grass is one of the mainstays of the state. So you saw decline in state revenue that was would have happened, regardless of what the tax rates were on the federal level when we look at the tax cuts here. The biggest piece that we're seeing is that strong positive economic growth because we've given businesses we've given individuals some reliability some consistency of what to expect. But also a big increase in the. Deficit as a result of those types. Yeah. And what if you look at the Congressional Budget Office, which is kind of the nonpartisan office. It does that a year ago when the tax plan was being brought up it was dated that over ten year period. Just lowering the rates would result in a one point five trillion dollar reduction in tax revenue..

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