Answer to China reneging on trade is ‘bust them immediately,’ Paul Mitchell founder says
John Paul Mitchell Systems co-founder John Paul DeJoria on U.S. trade tensions with China and the outlook for 5G.
Paul Mitchell founder John Paul DeJoria believes catching China in the act will force them to follow the rules of global trade.
”The answer to it is as they start reneging on anything -- bust them immediately, get on the news immediately, look at what the've done. Otherwise they keep on doing it.”he told FOX Business’ Maria Bartiromo on Tuesday. ”
John Paul Mitchell Systems (JPMS) is an American manufacturer of hair care products which markets several brands including Paul Mitchell, Tea Tree, and MITCH.
President Trump is traveling back to the U.S. on Tuesday after a state visit to Japan amid heightened trade tensions with China. Trade talks between the world’s two biggest economies have stalled ahead of a meeting between Trump and China’s President Xi at the G20 summit next month. Trump and Xi met in December during the G20 in Argentina, which led to a three-month tariff truce which was then extended. The U.S. recently raised tariffs on $250 billion of Chinese goods from 10 to 25 percent and Beijing responded with tariffs of their own.
But DeJoria is confident that the tit-for-tat will end in a “relatively short period of time.”
“Both sides get hurt by it. China gets hurt by it even more. I’ve already talked to other fellows that it would affect if it did go into effect, and all they're all set up to do is just have price increases temporarily because they don't think it's going to last very long,” he explained.
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“So if you look at it economically both sides have to benefit by having a fair trade agreement. Japan loves that. The whole area, the whole theater, loves that,” he added.”