From Trump’s interview with Wall Street Journal

[The short version is that he’s rambling, incoherent, and counter-factual. You should read the whole thing, but you have to have access.]

President Trump: We have money that is pouring into our treasury right now, and on January 1 it’ll become much more so. And here’s the story: If we don’t make a deal, then I’m going to put the $200 — and it’s really $67 — billion additional on at an interest rate between 10 and 25 depending.

Mr. Davis: Including even iPhones and laptops and things that people would know?

President Trump: Maybe. Maybe. Depends on what the rate is. I mean, I can make it 10 percent and people could stand that very easily. But if you read that recent poll that came out, we’re only being – most of this is being – the brunt of it is being paid by China. You saw that.

Mr. Davis: Right. Right. I mean, well, you know –

President Trump: On the tariffs.

Mr. Davis: It depends, like, who –

President Trump: Look, I happen to be a tariff person.

Mr. Davis: Yeah.

President Trump: I happen to be a tariff person because I’m a smart person, OK? We have been ripped off so badly by people coming in and stealing our wealth. The steel industry has been rebuilt in a period of a year because of what I’ve done. We have a vibrant steel industry again, and soon it’ll be very vibrant. You know, they’re building plants all over the country because I put steel – because I put tariffs, 25 percent tariffs, on dumping steel.

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