This is what Donald Trump understands. This is the trade deficit. We run a trade deficit of close to $800 billion a year.

The Donald Trump trade doctrine is this. America will trade with any country, so long as that deal meets these three criterion: You increase the GDP growth rate, you decrease the trade deficit, and you strengthen the manufacturing base.

The defining moment in American economic history is when Bill Clinton lobbied to get China into the World Trade Organization. It was the worst political and economic mistake in American history in the last 100 years.

When we run these big trade deficits and send our jobs offshore, we hold our wages down and our income down. That feeds right back into the biggest part of this whole equation, consumption. This drags GDP down as well.

Donald Trump understands China influence. He's been talking about it since 1980. He understands it. The people that are on the other side of this, including his opponent, Hillary Clinton, have been part of every bad trade negotiation we've had since 1993.

If you've been to China, you know there are over 100 cities in China, and the pollution levels are just horrific - 60,000 people a year die in Chinese factories and facilities, because they don't have any safety regulations. It's a carnage; it's Dickensian.

Unfair trade practices drive up rents for younger people. They will drive up home prices for first-time home-buyers. So it's not just that we're losing jobs and factories. We're giving away our homes, our businesses, our companies, our technologies.