WATCH: Key highlights as Trump ‘educates’ liberal Bloomberg editor at Chicago Economic Club

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From Fox News: Former President Trump said the Republican Party is “the party of common sense” Tuesday during a contentious interview with Bloomberg News in Chicago.

Trump sat for an interview with Bloomberg News’ editor-in-chief John Micklethwait at the Economic Club of Chicago. The two discussed Trump’s plans for the economy in a potential second term during a heated interview that lasted nearly an hour.

Micklethwait spoke about the economy to start, but later got into the state of the presidential race, asking the former president which state he believed was most critical to deciding the election.

The event was held before about 300 business leaders at the Fairmont Hotel in Chicago.

Ahead of Trump taking the stage, Micklethwait announced that they had also extended an invitation to Kamala Harris for a similar event to discuss her economic plans, but so far she has declined.

Throughout the hour-long interview, Micklethwait repeatedly tried to debate and argue with Trump, while the audience cheered for Trump and booed the Bloomberg host at times.

Micklethwait argued with Trump about his plans to impose tariffs on imports, claiming it would amount to the same as a tax increase on Americans. Trump pushed back, noting that it would instead motivate companies to bring their manufacturing back to the U.S. and give jobs to Americans instead.

“All you have to do is build your plant in the US and you don’t have any tariffs. This is what I want,” Trump declared.

Micklethwait claimed, “You’re talking about 10-20% tariffs on the rest of the world. That is going to have a serious effect on the overall economy.”

Trump fired back, “I agree it’s going to have a massive effect — positive effect! I know how committed you are to this… it must be hard for you to spend 25 years talking about tariffs as being negative and then have somebody explain to you that you’re totally wrong.” The crowd burst into laughter.

Micklethwait claimed Trump was making a lot of economic promises he can’t keep, and said people are betting that “your policies are going to drive up debt, drive up inflation and drive up interest rates.”

“I had four years with no inflation,” Trump retorted.  He then added, “And Biden went two years with no inflation because he inherited it from me, then they started spending money like drunken sailors.”

Micklethwait tried to argue again, saying Trump was “making all these promises, and flooding the thing with giveaways.”  Trump called him “fake news” right to his face, and the audience roared with laughter.

JD Vance later commented on the clip, writing, “This entire interview is incredible. President Trump walking into the lion’s den and reminding the people who’ve screwed up the country that they’re not as smart as they think.”

WATCH:

Trump was challenged on his allegations of wasteful spending by the government, and asked for an example.  Trump gave one, telling the story of how he personally renegotiated the cost of two new Air Force One planes and saved $1.7 BILLION.

Trump slammed some of the existing trade deals that had been signed with foreign companies, noting other countries had been allowed to take advantage of the U.S.

“Stupid people made these deals. I saw trade deals that were so stupid that you’d have to be an idiot to sign them. And we signed them for years,” he said.

Trump mocked Federal Reserve Chair Jerome Powell, and said, “It’s the greatest job in government. You show up to the office once a month and say, ‘Hmm, let’s flip a coin,’ and everybody talks about you like you’re a god.”

“This is the party, the Republican Party, of common sense… We need borders, we need fair elections, we don’t want men playing in women’s sports, we don’t want transgender operations without parental consent,” Trump said.

Micklethwait confronted Trump over his immigration policies. Trump confirmed, “I want people to come into the country, but I want them to come in legally.”

The crowd gave him a huge applause.

Micklethwait just had to bring up the January 6, 2021 protest at the U.S. Capitol, and slyly asked Trump, “You look at the events of January 6, 2021… it showed to many people that America’s democracy was unruly and violent. There are 3 weeks to go until the election. Will you commit now to respecting and encouraging a peaceful transfer of power?”

“Well, you had a peaceful transfer of power,” Trump said, as the audience applauded.

Micklethwait sneered, “You had a peaceful transfer of power compared to Venezuela.” As he continue to push the issue, the crowd started booing him.

WATCH:

Trump received a standing ovation and loud cheers at the conclusion of the event.

Trump advisor Stephen Miller wrote after the event, “Trump’s Bloomberg interview at the Economic Club of Chicago was the greatest live interview any political leader or politician has done on the economy in our lifetimes. Period.”

WATCH THE FULL INTERVIEW BELOW:

Ahead of the interview, Illinois Gov. JB Pritzker, a Democrat, released a venomous statement attacking Trump. He wrote:

“Every time he opens his mouth, Donald Trump reminds us that he is a racist, misogynist 34-time convicted felon who doesn’t care about anyone but himself. On a recent visit to Chicago, he spewed insults at Kamala Harris and no doubt we’ll hear it again today as he tries to peddle his economic plans that would raise costs for American families by $4,000, spike inflation, and kill jobs.

“But a majority of Americans reject those policies and the other disastrous, dangerous Project 2025 proposals a second Trump administration would plague this country with. On November 5th, voters will make that very clear when we send Donald Trump and his MAGA extremism packing.”

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