Deloitte CEO on tariffs: This is a chess game

Deloitte CEO on tariffs: This is a chess game


50 POINTS DOW JONES INDUSTRIAL AVERAGE REVERSAL TO EARLIER LOW WAS DOWN 262. DOWN, ON THE DOW EARLIER JOINING US RIGHT NOW TO TALK MARKETS TRADE IS THE CEO OF DELOITTE, KATHY GOOD TO SEE YOU.>>THANKS FOR JOINING US WHAT DO YOU SEE WHEN YOU SPEAK WITH CORPORATE EXECUTIVES TODAY IN TERMS OF POLICIES OUT OF WASHINGTON.>>NUMBER ONE THEY ARE ALL LOOKING FOR SUSTAINED ECONOMIC GROWTH, AND TAX REFORM REGULATORY REFORM INFRASTRUCTURE WILL PROBABLE HELP A LITTLE BIT YOU SAW WAGE INCREASES ONE TIME BONUSES, INVESTMENTS IN FACILITIES ARE THEY LOOKING FOR A LITTLE MORE CERTAINTY AND STABILITY ABSOLUTELY BUT OBVIOUSLY TRADE IS COMPLICATING THINGS FOR THEM I THINK WE HAVE 36 MILLION OF OUR JOBS, HERE IN AMERICA ARE VERY IMPORTANT EXPORT DRIVEN, TRADE IS 27% OF GDP A LITTLE STABILITY AROUND THIS WOULD HELP.>>I HAVEN’T BEEN ABLE TO FIND ONE PERSON TO SAY YES THIS TRADE TENSION IS PROBABLY GOING TO TAKE A CUT FROM ECONOMIC GROWTH EXPECTATIONS, I AM JUST — PEOPLE ARE NOT GOING THERE. EVEN THOUGH ALL THIS WORRY.>>I MEAN LOOK I THINK ANY KIND OF TRADE ACTIVES KIND OF TRADE ACTIVE KIND OF TRADE TATIVE KIND OF TRADE TARIVE KIND OF TRADE TARIFF KIND OF TRADE TARIFFS KIND OF TRADE TARIFFS A KIND OF TRADE TARIFFS ARE KIND OF TRADE TARIFFS ARE B KIND OF TRADE TARIFFS ARE BAD A TAX IT IS GOING TO CUT INTO ECONOMY I THINK WHAT WE HAVE SEEN MAYBE YOU HAVE SEEN THIS TOO KATHS KWAI WE TALKED ABOUT THIS BEFORE TRUMP PUTS HIS BIG CHESS PIECE FORWARD KIND OF RAMPS DOWN DO YOU THINK THIS IS WATERED DOWN IN THE LONG RUN.>>I THINK IT ANY TRADE AGREEMENT NEGOTIATION IS KEY. I THINK ONE OF THE IMPORTANT THINGS WILL BE IS AS WE LOOK AT AMERICAN COMPANIES, FAIR ACCESS 95% OF CONSUMERS OUTSIDE U.S. THIS IS A CHESS GAME BUT ALSO IS A BIG BALANCE ON NEGOTIATING.>>A QUESTION FROM YOUR PERSPECTIVE AS CEO OF DELOITTE. FOR YOUR COMPANY, IS ALL THIS CHANGE CERTAINTY GOOD FOR YOU? OR WOULD YOU RATHER HAVE A MORE STABLE — I KNOW HOW IT IMPACTS BUSINESS, CAN’T PLAN I AM CURIOUS IS ITS GOOD OR BAD FOR YOUR BUSINESS.>>I THINK COMPANY CONFIDENCE IS VERY IMPORTANT FOR OUR BUSINESS, COMPANIES ARE CONFIDENT THEY ARE ALL TRANSFORMING SO MUCH, INTELLECTUAL PROPERTY COMPONENT SO IMPORTANT TO GET RIGHT EVERY COMPANY TECHNOLOGY COMPANY THAT IS GOOD HAPPENING NOT STANDING POLICY.>>YOU TALK ABOUT THE IMPORTANCE OF SUSTAINED ECONOMIC GROWTH. BUT WE’RE NOW SEEING THIS 1.3 TRILLION-DOLLAR SPENDING BILL, ECONOMIC — THIS IS LONG-TERM DEFICIT DEBT RED I THINK VERY BAD NEWS FOR LONG TERM, HOW DOES THAT AFFECT HOW COMPANIES FEEL TODAY IS THAT, TOO FAR IN THE FUTURE? OR DO YOU SEE THAT HAVING AN IMPACT ON HOW COMPANIES ARE THINKING ABOUT, INVESTMENT AND WHERE THEY ARE GOING TO INVEST.>>I THIS I COMPANIES WORRY MACROABOUT DEBT AND SELF-DEFENSE BUT AS LOOKING AT EXECUTION OF THEIR STRATEGY OVER THE NEXT THREE TO FIVE YEARS THEY HAVE TO INVEST HEAVILY AND THAT IS WHY TAX REGULATORY REFORM IS HELPING WITH CONFIDENCE TO DO THAT. CAP ON SIDELINES REPATRIATION OF FOREIGN EARNINGS DEPLOYED MACROTHEY ARE WORRIED ABOUT THAT IN DEFENDANTS BUT KIND OF AS THEY LOOK AT EXECUTION OF THEIR STRATEGY, THEY KIND OF LIKE WHAT THEY SEE AROUND CONFIDENCE AND ABILITY TO BRING BACK THOSE EARNINGS INVEST THEM, IN U.S. BUSINESSES U.S. WORKERS U.S. FACILITIES.>>IN TERMS OF POLICY WHAT DO THEY WANT TO SEE NEXT.>>EXCLUDING TRADE POTENTIAL TARIFFS, WHAT COMES OUT OF THE TARIFFS, WHAT COMES OUT OF TH TARIFFS, WHAT COMES OUT ST TH TARIFFS, WHAT COMES OUT S TARIFFS, WHAT COMES OUT OF TARIFFS, WHAT COMES OUT OF T TARIFFS, WHAT COMES OUT OF THE WHITE HOUSE? BRIAN ASKED ABOUT SPENDING.>>NUMBER ONE INFRASTRUCTURE, AS WE KNOW IS A BIPARTISAN ISSUE BUT OBVIOUSLY VERY CHALLENGING ON WHERE DO YOU FIND THE MONEY, AGAIN GETS BACK TO THE POINT ABOUT –>>INFRASTRUCTURE MONEY IN THAT SPENDING PLAN RIGHT?>>O. DAGEN: IN THE OMNIBUS SPENDING BILL –>>AND, OBVIOUSLY, COMPREHENSIVE IMMIGRATION REFORM LOOK AT A FUTURE OF JOBS FUTURE OF WORK VERY IMPORTANT TO GET IMMIGRATION REFORM SKILLS FUNDING INTO EDUCATION BUSINESS ROUNDTABLE IS DOING INTERESTING THINGS AROUND WORKFORCE DEVELOPMENT AND EDUCATION REALLY AS WE SEE SHIFTS IN THE AMERICAN WORKER, VERY IMPORTANT TO LOOK AT THAT AS WELL.>>THE PHASE TWO OF TAX REFORM PLAN EXPECTING, PRESIDENT SAYS THAT HE WANTS TO MAKE THE INDIVIDUAL CUTS PERMANENT WHAT HE TOLD A GROUP OF MILLENNIALS YESTERDAY. MILLENNIALS STARTING OUT TREMENDOUS YOU HAVE A TREMENDOUS ADVANTAGE OVER WHAT YOU HAD, YOU ARE GOING TO PAY LESS TAXES, YOU HAVE FAR MORE INCENTIVE YOU ARE GOING TO HAVE A LOT MORE MONEY IN YOUR PAYCHECK TO SPEND. WE WERE AT ABOUT 1.2% GDP WE HAVE NOW HIT 3, AND ANOTHER 3, AND A 3.2, AND WE WILL SEE WHAT THIS NEXT QUARTER IS THAT COULD BE A GOOD QUARTER. MARIA: PHASE TWO REPORTEDLY WILL INCLUDE INDIVIDUAL CUTS BEING PERMANENT, WHAT COMPANIES ARE LOOKING FOR IN TERMS OF THE TAX OUT OF THIS STORY DID THEY GET WHAT THEY NEEDED IN THAT LAST TAX PLAN TO ACTUALLY HIRE MORE PEOPLE?>>SO I THINK THEY GOT WHAT THEY NEEDED THERE WAS NOT EVERYBODY IS HAPPY SO THERE WAS SOME NEGOTIATION OBVIOUSLY HERE IN NEW YORK CITY WITH THIS ALL SALT DEDUCTION WOULD I SAY ONE QUESTION CEOS ASK HOW LONG TERM IS THIS WILL THREE THERE BE REVERSAL OF THIS KIND OF POLICY IN 2020 OR 2024 HOWEVER YOU LOOK OUT 10 YEARS MAKE THEM PERMANENT? SO THEY ARE LOOKING AT THE FUTURE BECAUSE THEY ARE DOING LONG-TERM PLANS RIGHT NOW THAT IS WHERE THEY ARE UNCERTAINTY LIES.>>WHAT ABOUT NEW YORK CITY COUNCILMAN BILL THAT THEY WANT TO MAKE I WILL ILLEGAL FOR COMPANIES TO REQUIRE EMPLOYEES TO ANSWER WORKING E-MAILS OR CALLS AFTER HOURS.>>I DON’T KNOW HOW WOULD I DO WITH THAT I AM ALWAYS E-MAILING.>>FASCINATING WITH THAT WHAT ARE WORK HORSE RIGHT? WE ARE PROMOTING ABOUT FLEXIBILITY ABOUT PREDICT IN 62% MILLENNIAL WORKFORCE WORK HOURS ARE NOT 95 TO, 8 TO 6 OR 8 TO 7 WE PRIDE ON PEOPLE WORKING DIFFERENT TIMES FLEXIBLE FOR THEM WHETHER THEY HAVE FAMILY ISSUES THINGS LIKE THAT I WOULDN’T EVEN KNOW MOW YOU IMPLEMENT THAT.>>ALWAYS FLOATS IDEAS NOW AND

4 thoughts on “Deloitte CEO on tariffs: This is a chess game

  1. Trump playing chess… that's reassuring..
    "What's the horsie do again?"
    "So the boobs move diagonally?"
    "I should probably figure out why my little people keep disappearing… but first lets start this chess game"

  2. buy American-made we wouldn't have this problem we can make our own things the China sends here more jobs

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