House Speaker Mike Johnson agrees with Trump's stance on trade and immigration, but remains non-committal on specific policy.

• At the CNBC CEO Council Summit on Tuesday in Washington, D.C., House Speaker Mike Johnson stated that he concurs with former President Trump's stance on trade but is not prepared to endorse fresh tariffs if Trump secures another term in office.
• Johnson acknowledged that the country will face the challenge of dealing with the influx of millions of illegal immigrants across the border for many years to come, and agreed that mass deportations, as proposed by Trump, would entail significant expenses.
• The House Speaker stated that he made the decision to appear in Manhattan court to back Trump during the trial that resulted in his recent felony conviction. However, he added that he would only certify a Biden victory in November if the election was fair.

During a court case in Manhattan, House Speaker Mike Johnson appeared in support of Donald Trump, stating that he made the decision to attend the case alone at 10:15 p.m. while on a fundraising trip to New York. However, during a CNBC CEO Council Summit in Washington, D.C., on Tuesday, Johnson stopped short of fully committing to some of Trump's most vocal priorities, including trade tariffs and mass deportations at the southern border.

Johnson would not directly support Trump's call for 10% tariffs, stating that there is a role for tariffs but that a thoughtful discussion and debate is needed to determine when and how they should be applied.

Johnson stated, "Although I am open to discussing tariffs, I will exercise caution as Speaker of the House and leader of my party in Congress before committing to any specifics."

Johnson is aligned with Trump on tax cuts and regulations, and has recently presented a plan for the first 100 days of a new administration that includes cementing the 2017 Trump tax cuts and cutting regulations. However, the new team in charge has done the opposite, and I believe it's clear how we can return to prosperity by implementing the same plans and principles again.

"Johnson stated during a CNBC appearance that he still identifies as a Reagan Republican but has immense respect for President Trump's actions. In the 2015-2016 election cycle, Trump emphasized new issues such as working families, workers, trade, tariffs, and new approaches to these topics. He also foresaw the China threat and emphasized the border. Johnson believes that these ideas and issues were crucial to broaden the political spectrum and that Trump successfully expanded the tent."

Johnson refused to commit to an immigration policy, just like Trump.

Be cautious, as I have spoken with President Trump about the necessity of deportation. Although I believe it is the right thing to do, our estimates suggest that as many as 16 million illegals have crossed the open border since Joe Biden took office. However, the reality is that deporting them all is not a straightforward task. It is difficult to locate many of them, which is part of the problem.

Johnson agreed with Javers that the costs, logistics, and legal issues required would be enormous.

He stated that the theory behind the application may differ, and we must distinguish between the two.

"The open border has caused significant harm to the country, and it will continue to do so for decades. This is a nation-changing, nation-shifting problem that we must address and develop solutions for as we move forward."

House Speaker weighs in on Fed Chair Jay Powell

Johnson expressed his reservations about the Federal Reserve, stating that he would not reveal whether he would support the removal of Fed Chair Jerome Powell. However, he added that he has consistently had concerns about the Fed as an institution, specifically regarding its manipulation of markets.

Although Johnson comprehends the reasoning behind the Fed and "the concept behind it," he emphasized that "they have been incorrect on numerous occasions, particularly in recent years."

In late 2019 or early 2020, when he was chair of the Republican Study Committee, the largest caucus of conservatives, he recounted a visit from Chairman Powell to Capitol Hill. During the meeting, Powell was out of step with Republicans, as he failed to mention the federal debt despite having all the fiscal hawks in the room. Powell gave a quick update on the economy and spoke for 10 or 15 minutes. When it was time for the Q&A, all the hands went up, and the speaker anticipated the questions that would be asked.

"Chairman Powell stated that too much emphasis is placed on the federal debt, but he made this comment in the wrong room, causing his colleagues to become angry."

"I believe some errors have occurred. I am worried about it. Should it be a completely separate organization with no political interference? Yes, but we must closely monitor their actions and the extent of their market influence."

Johnson stated that the nearly $35 trillion in debt is not sustainable, with mandatory spending at 72% of the federal budget, and the time spent debating discretionary spending and government size and scope has become serious. This means we are spending our grandchildren's finances, and they will not have the same liberty, opportunity, and security as we have had. To address this issue, we must act in a bipartisan manner and take significant action.

Johnson stated that his first six months as House Speaker have shown the new dynamics in Congress and the need for a different approach. He pointed out that redistricting and gerrymandering have likely resulted in small majorities on one side or the other for the foreseeable future. As a result, he emphasized the importance of having thoughtful and responsible members of Congress to work together to find solutions.

"Despite being considered a hardcore conservative, I am not angry at anyone who is not like me."

Johnson expressed his agreement with the sentiment of certifying a Biden reelection if the president wins in November, but he equivocated a bit in his response. He stated that it is the intention to make sure the election is free and fair, and he trusts and hopes that it will be. If the election is fair, Johnson said he would definitely certify it.