Schmitt: 'Tariffs ... help even the playing field with countries who have been ripping us off'

Eric Schmitt, Missouri's junior U.S. senator, appeared on NBC's "Meet the Press", hosted by Kristen Welker, on Sunday, Feb. 2.

Among the topics addressed in the interiew was tariffs imposed by President Donald Trump on trading partners.

The following is a transcript of a portion of the interview:

Welker: President Trump, as you know, won in part on a vow to bring down prices. He's now imposing tariffs on the country's three biggest trading partners: Mexico, Canada, and China. Can you guarantee, Senator, that these tariffs won't drive up prices?

Schmitt: All we have to do is look at President Trump's first four years where he institutes tariffs. We didn't see inflation. In fact, we saw record wage growth. We saw $200 billion plus go into the Treasury from those tariffs. Tariffs that help even the playing field with countries who have been ripping us off, quite frankly, for generations. China, specifically. I think the American people are tired of being ripped off. They're tired of seeing their jobs go overseas. But I think these tariffs specifically, Kristen, are meant to bring Canada and Mexico to the table for the fentanyl that is streaming into our communities. It's also worth noting, in the last four years, that the trade imbalance and our trade deficit has gone up 200% plus with Canada and up 52% with Mexico. The fact is, these countries are taking advantage of us. All along the while we've got fentanyl streaming into our country. So Mexico has a choice. They can choose to trade with the United States or continue to cozy up with the cartels. It's pretty simple.

Welker: But you talk about President Trump's first term. It's worth noting that during his first term a number of prices did go up on various goods from washing machines and tires. You mention Canada. Very little fentanyl is coming across the border from Canada. Why is the President punishing Canada more than China, the country's adversary? Do you think that's right?

Schmitt: Well, that number is growing, though, Kristen. I think it's important, especially in the last year ...

Welker: But it's minuscule right now. It’s miniscule right now.

Schmitt: But it's growing. It's growing. And when they have a porous border, and they don't seem very concerned at all-- and by the way, I heard the clip earlier, Justin Trudeau sort of lecturing Americans. My advice to him is, he probably ought to talk to the Canadian people who are about ready to throw him out of office because he's been a total disaster. So, I think we've got a president that wants to put America first and protect people. We have 100,000 people a year, Kristen, dying from fentanyl. He ran about this – on this. This is not a surprise. He talked about getting operational control of our border, he talked about tariffs and improving our standing in the world. He's doing all those things. And look no further, the best evidence of this last week. Colombia came to the table after that threat and agreed to take criminals back into their country, and illegal immigrants. So, the fact of the matter is it works. It worked the first time when he was in office. We didn't see inflation, we saw wage growth, and we saw more on-shoring of jobs back here to the United States.