Sen. Mnuchin: We are now able to target more sectors with new sanctions

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Sen. Mnuchin: We are now able to target more sectors with new sanctions

Treasure Secretary Steve Mnuchin discusses the impact of new Iran sanctions on ‘Sunday Morning Futures.’

This is a rush transcript from "Sunday Morning Futures," January 12, 2020. This copy may not be in its final form and may be updated.

MARIA BARTIROMO, FOX NEWS ANCHOR: Welcome. Good Sunday morning, everybody.
Thanks so much for joining us. I'm Maria Bartiromo.
Straight ahead right here on "Sunday Morning Futures," my exclusive
interview with Treasury Secretary Steven Mnuchin, as President Trump hits
Iran with new sanctions. Plus, former White House chief strategist Steve Bannon is here on why he is
calling on the president to delay the State of the Union. He will join me
coming up live. Then, Republican Leader Kevin McCarthy on the House voting to limit the
president's war powers and why he says the measure has no teeth.
Also, ranking Republican on the House Intelligence Committee, Devin Nunes,
is here with exclusive news. He will break news on the Ukraine whistle-
blower complaint this morning. Plus, Florida Senator Rick Scott joins me to discuss the Senate impeachment
trial expected to finally begin this week, as the articles are being sent.
All that and a lot more right now, as we look ahead on "Sunday Morning
Futures." And we begin in the Middle East this morning.
The Trump administration is ratcheting up sanctions against Iran, after
Tehran targets American troops with missiles. Protesters are now rising up
in the streets of Iran against the ayatollah, after Iran admits mistakenly
downing the Ukrainian airliner.
Meanwhile, in Asia, voters in Taiwan reelect the incumbent president,
supporting her tough stance against mainland China, this as we look ahead
to this week's signing ceremony for the phase one of the U.S.-China trade
deal, all of this coming amid a record stock market performance and more
signs of job growth in America.
Joining me right now, exclusively this morning, is Treasury Secretary Steve
Mnuchin.
And, Mr. Secretary, it's good to see you this morning. Thanks very much for
being here.

STEVEN MNUCHIN, U.S. TREASURY SECRETARY: Thank you, Maria. It's great to
be with you.

BARTIROMO: Incredible pictures across the world of protesters and people
taking to the streets wanting freedom, wanting democracy.
Let's start in Iran, where we did see those protesters this weekend. The
U.S. has targeted Iran's billion-dollar metals industry and senior regime
officials. Tell us about these latest round of sanctions against Iran.

MNUCHIN: Maria, let me just start by first expressing our condolences to
the families that were involved in the crash. Obviously, it is just a
terrible, tragic situation.
The additional sanctions that we put on this week and the additional
executive order that the president authorized gave us additional
capabilities to target both primary and secondary sanctions in different
sectors, including the metals industry, construction, and travel, amongst
others.

BARTIROMO: The economy there has already weakened quite a bit. You talked
about this with Secretary Pompeo on Friday.
Here is the secretary, Pompeo, with me last week on this program talking
about the state of the Iranian economy today. Watch.

(BEGIN VIDEO CLIP)

MIKE POMPEO, U.S. SECRETARY OF STATE: We have crippled their economy.
They have never been in this position, Maria. Iran has never been in a
place where they have been challenged, not only economically, but
diplomatically, with a global coalition that, in May of last year, put out
a united statement against Iran. This is a challenge and a strategy that President Trump has laid out that
we're executing with great vigor. And it will protect and preserve and
defend the American people.

(END VIDEO CLIP)

BARTIROMO: Is there anything left or anyone left to sanction? I mean, how
much farther can you go? And what do you need to see from the Iranian
regime to actually take these sanctions away?

MNUCHIN: Well, with the new executive order, we have very, very strong
authorities now across all industries, including in this executive
authority. It gave both myself and Secretary Pompeo the authority to target additional
sectors as needed. And, Maria, this is all really about cutting off money, oil sales, other
revenue that would be funding their terrorist activities and their nuclear
weapons development. So we continue to allow for humanitarian transactions
with Iran. I'm pleased to say that OFAC expedited all the waivers, as I said they
would, as it relates to the airline crash investigation. And we don't want
to target people of Iran. We want to cut off revenues that are going for
bad acts.

BARTIROMO: And yet there is a real partnership developing and deepening
between Iran and China -- actually, I should say, Iran, China and Russia.
But let's stay with Iran and China for a moment.
As you know, the expectations are that 50 to 70 percent of Iran's oil
exports are flowing to China. Why is China allowed to go around these
sanctions and do business with Iran, 70 percent of their oil and gas going
to China?

MNUCHIN: Well, Maria, let me just say we have got cut off probably over 95
percent of the oil revenues. So there is a very small amount of oil revenues. And you're right. A
component of that, a big component of that is China.
I sat down with the Chinese officials. They flew in a delegation to meet
with us in the State Department to talk about this. They have cut off all
of the state companies from buying oil. And we're working closely with them
to make sure that they cease all additional oil activities.

BARTIROMO: So you are pursuing trying to get China to cease all
activities? Because they're obviously giving Iran the money, and Iran is using the
money to support terrorism, if 70 percent of their oil and gas is going to
China.

MNUCHIN: It is 70 percent, Maria. But let me just say, it's 70 percent of a very, very small number.

BARTIROMO: OK.

MNUCHIN: And China is subject to sanctions, like everybody else.
We actually sanctioned some of their shipping companies that were involved
in the oil. And we will continue to pursue sanctions activities against
China and anybody else around the world that continues to do business with
them.

BARTIROMO: So what about France? You know, France is doing business Iran
as well. What about the NATO countries, including France, that seem to be
continuing their relationship with Iran, even as the U.S. pleads with them
not to, promising sanctions? Are we going to see secondary sanctions?

MNUCHIN: The Europeans are adhering to our primary sanctions. Again, as we
roll out additional sectors, they will be cutting back activities in those
sectors. But the Europeans are complying with our primary sanctions, because they
would be subject to secondary sanctions. And they understand that. And even
in the case of INSTEX, we have warned INSTEX that they may be -- depending
upon how they set it up, they would most likely be subject to secondary
sanctions as well. But, again, let me just emphasize, humanitarian transactions are available.
We're setting up a Swiss channel to handle that. So, this is not about
attacking the people of Iran. This is about, as the president said, making
sure that Iran stops their terrorist activities and making sure that they
never have nuclear weapons.

BARTIROMO: Let me move on to China, because you are planning a big event
this Wednesday, the signing ceremony for the phase one deal between the
U.S. and China. Is this same deal that you told us about at the end of last year?

MNUCHIN: It is. And let me just say, Ambassador Lighthizer has led a very, very large team
across all the different agencies. Almost every single one of our agencies
have been involved in this. And this is really a historic transaction.
Now, it's is not everything. And, as we have said, there will be a phase
two. But this is the first time we have had a comprehensive agreement with
China on technology issues, agricultural issues, financial services,
purchases, and has a real enforcement mechanism. So this is a big win for
the president.

BARTIROMO: The last time we spoke about this, looking at this deal at the
end of last year, we were expecting that there would be a snap-back
provision in there where, if China doesn't keep its promises, if they lie,
as they have for so many times to so many different parties, that the U.S.
would be able to snap back tariffs and -- in place. Is that still in it, or has that been changed through translation?

MNUCHIN: No, that is still in it, Maria. There is a real enforcement
provision. And if they don't comply with the agreement, the president
retains the authority to put on tariffs, both existing tariffs and
additional tariffs.

BARTIROMO: And what about the agricultural buying, because that is another
question? There are concerns this morning, as you know, Secretary, that the language
has been changed in translation. Why wasn't the English version released to
the public, so that we can understand specifically what is in the deal
we're away -- 48 hours from signing? People want to see the English
version. Was it changed in translation?

MNUCHIN: Maria, let me first say it wasn't changed in translation. I don't
know where that rumor started. We have been going through a translation process that I think we said was
really a technical issue. And the language will be released this week. So I
think it is -- the day of the signing, we will be releasing the English
version. And people can see. This is a very, very extensive agreement.

BARTIROMO: So, you expect the Chinese to buy $40 billion to $50 billion of
agricultural products from the United States, then?

MNUCHIN: I do. Let me just say, it is $200 billion of additional products across the board
over the next two years, and, Specifically, in agriculture, $40 billion to $50 billion.
So, this is a big opportunity for our farmers. And I think some people have
questioned whether they can produce it. And the president said they are
going to go out and buy more land and produce plenty of agriculture.

BARTIROMO: On the intellectual property issues, you have been talking a
lot about protecting I.P. for American companies and innovators.
Is it true the Chinese recently adopted malicious cybersecurity rules that
negate any opportunity for the U.S. to protect its intellectual property?

MNUCHIN: No, Maria, that is not true.
There are very important intellectual property rules in here that we expect
them to adhere to. There are cyber concerns that we do have. So let me just
be clear. Cyber will be part of phase two.
But we have incorporated provisions in phase one that we think are
important protections for U.S. companies. So, we have made very clear there
can be no forced technology transfer and that China is putting out laws to
protect both U.S. technology and other technology.

BARTIROMO: So all of your plans are coming together? You have got the
signing ceremony on Wednesday. You have got USMCA likely going to pass the
Senate. When would you expect that?

MNUCHIN: I know it is going through the Senate committees now. We expect
it to pass quickly. We hope that this little sideshow that is going to show
up at the Senate doesn't delay it. But we look forward to the Senate acting
quickly. And let me just say, the president's economic program is really coming
together. As we have talked about Maria, from day one, it's tax cuts, it's
regulatory relief, and it is trade. And the president has delivered on all
three. You saw the stock market break 29000 for the first time last week.

BARTIROMO: That was pretty incredible, actually. Looking at the backdrop in the terms of the economic growth story, that is
what driving the markets. I know that we got more signs of jobs growth on
Friday, with the jobs numbers coming out,although it is slowing down from
the numbers we saw about a year ago. What would be your expectation for growth, economic growth, and jobs in 2020?

MNUCHIN: Well, Maria, I wouldn't focus on any one week. We have created
more jobs under President Trump than ever created before.
That is something that we continue to focus on. And we look forward to a
healthy economy in 2020. Now, let me just say there is no question that the
Boeing -- the Boeing situation, it is going to slow down the GDP numbers.
Boeing is one of the largest exporters.
And with the 737 MAX, I think that could impact GDP as much as 50 basis
points this year. But we -- we look forward to very healthy growth in 2020.

BARTIROMO: And the trade story is one leg of the three legs in terms of
deregulation, tax legislation, and the trade changes that you are making
and the administration has led here. Would you expect things to pick up in 2021, then? What is your expectation
in terms of economic growth?

MNUCHIN: Well, I think, for this year, we have been looking at 2.5 to 3
percent, as I said. It may be closer to 2.5 because of the adjustment of
the Boeing numbers. But this would have been 3 percent otherwise. And I think there is no
question that USMCA and the China deal are going to add significantly to
growth.

BARTIROMO: Secretary, I know you have got a big week, with the China
signing and these incredible growth numbers, with the stock market
reacting. Great to talk with you this morning. Thanks so much.

MNUCHIN: Thank you, Maria.

BARTIROMO: Secretary Steven Mnuchin joining me. Coming up, the House voting to limit the president's war powers. Minority Leader Kevin McCarthy will join me next with exclusive reaction. Follow me on Twitter @MariaBartiromo, @SundayFutures, and on Instagram
@SundayFutures. Stay with us. Let us know what you would like to hear from this incredible
lineup of guests, as we look ahead on "Sunday Morning Futures." Back in a minute.

(COMMERCIAL BREAK)

BARTIROMO: Welcome back. Congress now grappling with the fallout from the killing of Iranian General
Qasem Soleimani. The House passed a resolution that reaffirms the 1973 War Powers Act. That
seeks to limit the president from taking further military action. Many
Republicans say this could actually weaken America's position in the Middle
East. Joining me right now is House Minority Leader Kevin McCarthy. Congressman, it's always a pleasure. Thanks so much for being with me.

REP. KEVIN MCCARTHY (R-CA): Thank you.

BARTIROMO: Let's go through these -- War Powers Act.
The House, obviously, on Friday voted. Can you tell us a little bit this
and where this is going?

MCCARTHY: Well, this is -- this resolution we passed is going nowhere,
because it's way they passed it.
They did a concurrent resolution. And you have to understand this, Maria,
that a concurrent resolution is only used for like the Soap Box Derby or
giving a medal that we did to Jack Nicklaus.
This is nonbinding. This will not go to the president. It will not change
the War Powers Act.
And it's what the Democrats have done. I mean, think about what the --
President Trump has done. It is his natural instinct to always put America
first and keep us safe. The Democrats' instinct is to blame America first.
Instead of having a resolution on the floor condemning Iran for shooting
down a civilian aircraft, or will we have resolution on the floor this week
standing with those individuals who seek freedom in Iran? I don't believe
we will, because these Democrats will do anything to defame the president
over defending this nation.

BARTIROMO: Eight Democrats opposed this resolution. Six are in the swing
districts won by Donald Trump. Talk about that, because I know that you
have talked before in the past about those swing districts really watching
and pressuring Nancy Pelosi to not go forward with the impeachment.
But we know that the articles are going to the Senate this upcoming week.

MCCARTHY: Well, last year, it would take 19 new seats to win the majority.
And this year, it only takes 18, because a Democrat, Jeff Van Drew,
switched party over impeachment and the way Nancy Pelosi has been treating.
He is more -- he is a Republican now on where his positions are. There are
30 Democrats who sit in seats that President Trump carried. We only need 18
to win the majority. They're seeing the tide continuing to shift, as Nancy
Pelosi, the speaker of the House, continues to stand with the socialist
wing of the Democratic Party, instead of standing where America wants to
see us.

BARTIROMO: So what happens this week? You have got vote on the House
managers for the impeachment trial.
And then this impeachment trial, which I assume will begin this upcoming
week, could go for several weeks. Tell us how you see it playing out.

MCCARTHY: Well, we first have to name the managers and vote on it.
Remember where the Democrats said this was so urgent, that they had to move
this so quickly, before end of the year. And now Nancy Pelosi has been
holding the papers?
So, sometimes, we will vote after their caucus, would be Wednesday or
Thursday. So, I find it very difficult for the Senate to even start
impeachment this week. And what happens with impeachment is, the senators
have to be in their desks. They cannot have a phone. They cannot talk to
one another. And they stay in their desks.
With the Clinton impeachment, it lasted five weeks. And this is the dirty
little secret that nobody is talking about, why the speaker held these
papers. Remember what happened in the last nomination process, where the DNC
chairman, Debbie Wasserman Schultz, had to resign the night before the
nomination convention started, because they had found out they had cheated
Senator Bernie Sanders from the opportunity to become the nominee.
They are doing the exact same thing right now. The Iowa caucus is on
February 3. Bernie Sanders is in first place. And what this does is, this
benefits Joe Biden. This harms Senator Sanders, who is in first place and
could become their nominee, because he will be stuck in a chair, because
Nancy Pelosi held the papers, different than what she said to the American
public why she had to move so urgently.

BARTIROMO: So, you think that it is by design that Nancy Pelosi is sending
the articles now, slow-walking, really, slow-walking the impeachment trial,
to have the senators in the room? I mean, that is collusion. That is obstruction, once again keeping Bernie
Sanders at bay, and clearing the decks for Joe Biden? Is that what you're
saying?

MCCARTHY: That is exactly what I'm saying.
Remember what the Democratic Party did this time. They removed the
superdelegates from the first round of voting because what they had done to
Senator Sanders. Now they don't have the power, had he got to the convention fairly. So,
what power does the speaker have? Remember, when she first started
impeachment, I sent her a letter about process, could we have a fair
process, laying out 10 questions, the exact same process for Bill Clinton
and Richard Nixon. She ignored that and didn't care about process.
Now she tries, in hypocrisy, bring up process in the Senate, where she has
no power?

BARTIROMO: Wow.

MCCARTHY: She told the American public it was urgent. She had to move so
fast. The only reason why she should be -- that she is doing this that no one is
talking about, it is harming the -- Bernie Sanders, the senator, who has
been coming into first place, who could win Iowa and propel himself to be
the nominee. It's the exact same thing they did to him four years ago.

BARTIROMO: That is unbelievable, actually. That is breaking news,
Congressman. Thanks very much for joining us with this, this morning. We will see you
soon, Kevin McCarthy. Up next, my exclusive interview with the always outspoken former White
House strategist Steve Bannon -- his reaction to developments with Iran,
China, why he says the president should delay the State of the Union
immediately, as we look ahead on "Sunday Morning Futures." Back in a minute with Steve Bannon.

(COMMERCIAL BREAK)

BARTIROMO: Welcome back.
Breaking news this morning on support for democracy and freedom rising in
the Middle East and Asia.
In Iran, protests in the street after the country's leaders admit
mistakenly shooting down a Ukrainian jetliner, killing all 176 people on
board. In Taiwan, voters are celebrating this weekend, the island's pro-democracy
leader winning reelection, again, people in the streets wanting freedom and
democracy. And in Hong Kong, protesters holding up the American flag as they fight for
freedom. Joining me right now on what it all means for America is former White House
chief strategist, host of the hit podcast, wildly successful, "War Room."
Steve Bannon is here. Steve, it's great to see you.

STEVE BANNON, FORMER WHITE HOUSE CHIEF STRATEGIST: Thanks for having me,
Maria.

BARTIROMO: Thank you so much for joining us. Reaction to what's taking place across the world?

BANNON: Look, this is the Trump doctrine, whether it's in Hong Kong at
ballot box in Taiwan, in the streets of Tehran, freedom and democracy.
This is what -- President Trump has stood up to the Chinese Communist
Party, the dictators in Beijing. He's stood up to the mullahs in Tehran.
And now you're seeing it. You're seeing the people, whether it's at the
ballot box in Hong Kong or in the protest. They just had a sweeping victory
there a couple of weeks ago, a landslide victory for the -- for the freedom
and democracy party in Taiwan, with a record turnout.
And this is with the Chinese Communist Party trying to put their thumb on
the scale to try to do it, in Tehran, the exact same thing. Remember, in
Hong Kong, and in Taipei, you're seeing the American flag. They're waving
in these American -- these independence movements, these freedom movements.
They have gotten President Trump -- posters of President Trump as Superman
or some sort of superhero. This is the Trump policy. It's ironic that, this
week, we're going to have the signing of the Chinese trade deal.

BARTIROMO: Right.

BANNON: At the same time, they're moving -- they're going to vote to send
the impeachment articles over to the House, because these are inextricably
linked. What President Trump did is go against the established order. The
established order, the permanent political class' foreign policy was to
appease these dictators, to appease piece Beijing. And that's why you saw
the rise of China. To appease the mullahs in Iran. And that's why you saw
this -- this expansion, this expansion of Iran in -- with Hezbollah
throughout the Middle East. Donald Trump said, this is not going to happen on my watch. We're going to
stop here and now. He's taken a very Churchillian stand, like Churchill
took in the 1930s. It's the permanent political class and the John Kerrys,
the Hillary Clintons, the foreign policy establishment, the Neville Chamberlains. They were the appeasers. He stopped the appeasement. He went to economic
war. He -- in the trade deals.

BARTIROMO: Yes.

BANNON: He did economic war with the tariffs against China. He put
economic sanctions on Tehran. Economic war is winning.
And the people in the streets support Donald Trump.

BARTIROMO: Well, the Democrats don't see it that way, Steve.
She is sending the articles for impeachment over to the Senate. We're going
to have a Senate trial. And yet I can't figure out if, in fact, the
president wants witnesses or doesn't want witnesses. What is this going to
look like? Why is it that this freedom, this democracy, this movement in the economic
growth story is not resonating on his critics?

BANNON: Well, listen, they're not.
This is why they oppose him, the established order. First off, they hating
personally. But more importantly, they oppose his America first policies,
because the America first policies are resonating.
Freedom and capitalism are resonating around the world. And that's what
they oppose. And this is why he's continuing to push this forward.
Remember, when they put these articles of impeachment up, what they want to
do is basically bigfoot everything he's doing. They want to have -- and
this is, I think, the problem Mitch McConnell has, is that they see this
kind of trial as being on C-SPAN, right, with some very tight legal
arguments. I think President Trump and the reason on "Laura Ingraham" the other night
he called for an expanded -- he called for an expanded witness list was, he
understands that the jury is not the Senate. The jury is the American
people, but the audience is the world. They're watching on the streets of Taipei. They're watching in Hong Kong.
They're watching in Tehran. They're watching to see if the established
border can back down Donald Trump.
And Donald Trump has the ability to win here. And that's why I have been
calling it the trial the century. He calls it the crime of the century. It
is the crime of the century. It should be treated like that. And that's
why, on "Laura Ingraham," he walked through the witnesses he wants.
I think those witnesses have to be called.

BARTIROMO: The crime of the century, meaning that this was a coup.
Kevin McCarthy was on several times over the last year, who called it the
worst coup that we have seen ever in our history of our country. That's why
the president calls for these witnesses.
Let's listen to the president on "Laura Ingraham" the other night in that
great interview. Watch.

(BEGIN VIDEO CLIP)

DONALD TRUMP, PRESIDENT OF THE UNITED STATES: I would like a trial.
And I'd love to have sleepy Joe Biden. I'd love to have his son. I call
them where's Hunter? I have changed his first name to where. Where's
Hunter? I'd love to have the whistle-blower who wrote a fake report.

(END VIDEO CLIP)

BARTIROMO: Will we get there? Will we actually get all those people to
testify? Because that will expose the crime of the century.

BANNON: If they're making a big deal on the Democratic side, and some of
these moderate senators are starting to call -- they want Bolton and
Mulvaney and the e-mails and Vought at OMB. Bring them. What do they have to show?
Donald Trump did nothing wrong. This is why -- it's just like his support
of the freedom movements throughout the world. And, yesterday, he tweets
out in Farsi to support the people in the streets of Tehran. The
established order were appeasers. They appeased the Chinese Communist
Party. They appeased the mullahs.
He stood up to that. And he showed you, in the crime of the century, we
should have the whistle-blower up. We should have Hunter Biden up. And we
should have the gentleman Horowitz, who wrote the I.G. report.
We should have those people up there. They should testify. If you have to
trade off by having John Bolton and Mick Mulvaney, who cares? What are they
going to say?

BARTIROMO: So...

BANNON: Right?
What President Trump said at the very beginning of this, when we started
our podcast, unity and substance. I did nothing wrong. This call was
perfect. And I think the facts bear him out. It's one of the reasons -- two reasons
Nancy Pelosi slow-walked this. One was to find more evidence, OK, because
they didn't have it. And they are afraid the guns are going to be turned
back on them for a weak case. The second was to make sure she could bigfoot President Trump's State of
the Union message. That's why she slow-walked this entire thing. President
Trump understands that the jury is the American people. The audience is the
world. The world is watching this. That's why he has to take a hard stand, I believe.

BARTIROMO: Well, so you want him to delay the State of the Union.
I got to ask you about that, because you are asking him, calling for him to
make this announcement tomorrow morning. Let's take a short break. We have got a lot more with Steve Bannon when we come right back. Stay with us.

(COMMERCIAL BREAK)

BARTIROMO: And I'm back with Steve Bannon. He is former White House chief
strategist, host of the "War Room" podcast.
Earlier, I mentioned that comment by Kevin McCarthy, where he said that we
just witnessed the attempted coup to take down President Trump. It was the
worst coup since Lincoln, is what he said on this program.
And this is one of the reasons why you believe they're not going to stop
attacking the president. You want the president to fight back.

BANNON: This is continual. This is the nullification project to nullify
his presidency.
And you see why. They were wrong. They are the appeasers. He's the
Churchill figure. He has stood tall. That's why this is the trial of the
century. It's about the crime of the century. It has to be big.
This is not C-SPAN 3. This is going to be on global television. That's why
I believe he has to have some of the House people, like Lee Zeldin and Mark
Meadows and Jim Jordan and Gaetz and these guys that...

BARTIROMO: That's not going to happen, though, is it?

BANNON: Well, I think he -- I think he's still got an opportunity to do
that. I think the president needs them, because they need to be -- these fire-
breathers need to be there. We can't worry about the decorum of the Senate.
This is about the direction of the United States of America. It's about the
peace and prosperity of the world. Donald Trump's policy is working. And this is why she slow-walked this. She
invited him to do the State of the Union, and then she purposely slow-
walked this, because she wants in the middle of the trial -- and I can see
The New York Times' headline: Under a cloud of uncertainty, Trump
addresses the nation.
He has to be acquitted. He will be acquitted and exonerated. That should
happen. And then you do the State of the Union, because the whole world
will watch this.

BARTIROMO: So you're calling on President Trump to do what, tell Nancy
Pelosi what about the State of the Union?

BANNON: Tell Nancy Pelosi -- hey, tell Nancy Pelosi, when you deliver it,
and we have a trial, and after I'm acquitted, I'm going to come and have
the State of the Union, not until then.
I'm not -- President Trump's got a great saying, no games, OK? This is all
game-playing by the Democrats. It's got to be brought to an end. OK?
Now, they forced her this week to deliver them. That's why he's -- and I
think this trial, he ought to go big. He ought to demand witnesses. I think
President Trump ought to demand. There's no witness on the other side of Bolton or Mulvaney. There's nothing
they can say that's going to be that big a deal.

BARTIROMO: Well, they want to hear from John Bolton.
John Bolton last week, why did he come out and say, yes, I'm ready to
testify?

BANNON: I have no -- maybe to sell books.
All I know is that President Trump has to protect the office of the
presidency for future presidents, as he said, about executive privilege.
But there's nothing about the details of this thing that will be any big
deal, offset by the whistle-blower, by Brennan, by Biden, by Hunter Biden,
by the I.G. report. This is the crime of the century. This was an attempted coup on a sitting
president, a sitting president who turned out to be right. And you know who
says he's right? The kids in Tehran, the kids in Beirut that are in the
streets trying to throw off Hezbollah, the kids in Hong Kong that are
taking -- being gassed and taking rubber bullets, the voters in Taipei who
yesterday threw out the Chinese Communist Party with a landslide, who all
wave American flags, and all have signs of Donald Trump being a superhero,
on the streets of the world.

BARTIROMO: Yes.

BANNON: The people that want freedom and democracy against these dictators
that Trump said, no more appeasement. I'm going to confront this, OK? I'm
going to confront it, and we're going to stop it on my watch.
The nation should be proud of this. And if the trial is handled -- this is
not some technical legal thing.

BARTIROMO: But doesn't that also impact the president, I mean, and his
timeline? Remember last time, the State of the Union. It was pushed back a week. She
said she didn't want him to come to the chambers to deliver the State of
the Union. He was talking about giving a rally. I mean, this is deja vu all
over again.

BANNON: Well, that was more games about when he -- actually, the
government shut down because he demanded certain things, particularly for
the wall. The wall is going to give us security.

BARTIROMO: So, here we are questioning the State of the Union again?

BANNON: Well, no, but here's the reason.
She's gamed this. Why did she take so long? Remember, they impeached him
because he's a clear and present danger. That's what they said. He's a
clear and present danger. We have to do this before Christmas. It has to
happen because all this influence in the following elections, right? He's a
clear and present danger. They have waited for weeks for two things. They're trying to get more
evidence. They're running around trying to get more evidence, because they
have no evidence. They're afraid that guns are going to be turned on them
and they're going to be put on trial, because they don't have a case.
The other is that she wants him to have a State of the Union where there's
some uncertainty. After it's all over, after he's been exonerated, then he
goes before the world at the State of the Union and lays out the state of
this union and the state of the world.
The world is going to be more peaceful and prosperous and less war, because
a president like...

BARTIROMO: He has answered...

BANNON: A president like Donald Trump came up, like Churchill did, and
said, we're going to stop this.

BARTIROMO: Has he answered you on this? Have you told him? You have
called...

BANNON: I just -- we just said this the other day on the show. We have
been saying this kind of nonstop for the last 24, 48 hours. I think, listen...

BARTIROMO: So, do we know if he's considering delaying the State of the
Union?

BANNON: Listen, President -- President Trump is a feel player. He
understands the moment.
He will think this through. He understands. I also think -- he said it on
"Laura Ingraham" the other night...

BARTIROMO: Yes.

BANNON: .. about who he wants as witnesses, who he would see.
That's the way the trial should be run. It should be, put them on trial,
put the whistle-blower, put Brennan. Put the apparatus that tried to shut
down and do a coup against a democratically elected president that had the
right ideas about how to bring peace and prosperity to the world.

BARTIROMO: Meanwhile...

BANNON: The Chinese are not coming this week to sign this trade deal,
because everybody mocked him on tariffs.
His tariffs worked. He broke them. And that's why they're here. That's why
they're here to sign this trade deal, is because Donald Trump's program
worked, when everybody on Wall Street, all the op-ed pages and all the
business leaders said, oh, this is wrong.

BARTIROMO: Yes.

BANNON: It was Trump. After 20 years of allowing them to lie, cheat and
steal, he brought them to account. And he brought them to account because
he took bold and dramatic action.

BARTIROMO: Well, even the Democrats on stage ready to debate this week,
their last debate leading up to the Iowa caucuses, believe that China is
the bad actor here and agree with the president holding a firm...

BANNON: They do -- they do agree, Maria. But it's like -- they're like in
seventh grade.
It's embarrassing to see what they say about what to do with China. Look at
Donald Trump's actions on China to hold them to account, OK, to -- and
that's why you have got explosions in Hong Kong and Taipei, to hold the
mullahs to account with economic warfare, not sending American troops,
killing bad guys when you need to kill them, but having economic warfare
that broke the mold and broke the mullahs.

BARTIROMO: Real quick on the debate stage this upcoming week, Michael
Bloomberg will not be there. But he's willing, apparently, to spend up to a billion dollars if he
doesn't get that nomination.

BANNON: On -- on -- on...

BARTIROMO: It worked to get the House majority last year, didn't it?

BANNON: The reason he's being impeached is because of Michael Bloomberg's
money and backing these candidates that Nancy Pelosi curated.
On Super Tuesday, you're going to see the effect of money in the Democratic
primary, because he's going to drop a financial atomic weapon on the field.
He's already spent almost $200 million.
Michael Bloomberg is committing a billion dollars. This is how maniacally
they want to remove Donald Trump from office.
And the American people, now we're seeing the golden age. Freeman the other
day in The Wall Street Journal said, we're seeing the golden age of the
underdog in America, the golden age of the striver in America, 9 percent
income growth if you don't have a high school degree, the first time that
blue-collar workers over white-collar workers, workers over managers, blue-
collar over white-collar. And they see this in Tehran. They see this in Beirut.

BARTIROMO: Look at women. How about women?

BANNON: They see this in Hong Kong, and they see it in Taipei.

BARTIROMO: Yes. And, certainly, in the U.S., you have got very strong jobs
performance as well, 50-year low on unemployment. Steve, it's great to see you.

BANNON: Thank you, ma'am.

BARTIROMO: Thank you so much, Steve Bannon joining us. We have got exclusive breaking news ahead on "Sunday Morning Futures." It has been a news-breaking program. Congressman Devin Nunes will join me next with breaking news on the inspector general.
And be sure to watch FOX Business Tuesday morning for my exclusive
interview with Jamie Dimon, the CEO and chairman of J.P. Morgan Chase. We
will get more on the economy and where it is now with the lead banker in
the country. More with "Sunday Morning Futures" when we come back.

(COMMERCIAL BREAK)

BARTIROMO: Welcome back.
As the Senate prepares for the expected start of the impeachment trial this
upcoming week, House GOP leaders are investigating the original whistle-
blower complaint that started the inquiry in the first place.
The ranking Republican on the Intelligence Committee, Devin Nunes, sending
this letter to the intelligence community's inspector general, demanding
answers over inconsistencies that were found in the complaint.
Congressman Nunes joins me now exclusively.
Congressman, it's always a pleasure to see you. Thanks very much for
joining us.

REP. DEVIN NUNES (R-CA): Great to be with you, Maria.

BARTIROMO: I have got your letter in front of me. Tell us the crux.

NUNES: Well, the bottom line is that Republicans asked back in the end of
September for the ICIG to provide e-mails, documentation about how it's
possible that someone that only had secondhand information could possibly
be a whistle-blower, when it wasn't on the form.
What we got back was essentially a non-answer answer at the early stages of
October. At that time, we moved into impeachment in the House.
And what I said at the time, even though the media largely ignored it, I
said that we're not finished with the ICIG.
Lo and behold, the Democrats know that the ICIG is a major problem. You
know why? Because they haven't released his testimony. So he's the only
one. Of all the Star Chamber games that were played in the basement of the
Capitol, with these secretive interviews, the only one that's not released
is the one with the I.C. inspector general.
That is -- that's unacceptable. So what we're asking for here is -- because
what he's claiming is essentially that we're just dumb, we made mistakes,
it was a -- it was a huge mistake.
That's fine, if you want to claim incompetence, but you need to have the
documentation, the evidence to prove that you were indeed incompetent,
because it just doesn't pass the smell test. And it looks so much like
everything else we have seen, from the Russia hoax to the Ukraine hoax that
became the impeachment scam.

BARTIROMO: This is unbelievable. So do you think you will get these answers?

NUNES: Well, I think it's pertinent that the ICIG get these answers by
Friday, because this is the guy who lit the fuse for this impeachment scam
that's now going to be on trial in the Senate.
So, if he wants to clear his name and prove that he is, in fact, and his
office is, in fact, incompetent, he needs to provide the evidence that he's
incompetent.

BARTIROMO: Well, the whistle-blower apparently also worked for John
Brennan, worked with John Brennan for a time.
Connect the dots here, because you have been exposing the fraud by a cabal
of individuals, whether under the leadership of John Brennan at CIA or Jim
Comey and the FBI.
NUNES: Well, look, and that's the other problem here with the ICIG, is
this ICIG actually has connections, was a lawyer for some of the very
people that were involved in the FISA abuse scam.
So all of this becomes intertwined and related. And we need to get to the
bottom of it.
And, look, the ICIG, in theory, works for Congress. So why he wouldn't
provide evidence, which is really -- the I.G.s, that's their game, right?
That's what Horowitz proved is, they're very good at getting e-mails and
evidence that exist within the bureaucracy.
So this is not hard for the ICIG to provide us all the documentation on
their supposed stupidity.

BARTIROMO: Let me move on and ask you for some reaction to this David Kris
naming.
I know you obviously have a lot of experience with this individual. The
surveillance court picks ex-DOJ leader David Kris to review FBI reforms. We
know that Christopher Wray's coming out with reforms.
We're going to show some of the headlines that David Kris wrote about you
and about the Nunes memo, which, of course, as we know, was 100 percent
true when you first came out with that Nunes memo, which was exposing the
wrongdoing and the attempted coup to take down then candidate Trump, and
then President Trump.

NUNES: Well, look, I don't -- I don't know this gentleman.
I remember, at the time, there were conspiracy theorists out there who were
saying that -- they were accusing me essentially of committing crimes,
when, in fact, it was the FBI and the dirty cops and the Clinton people
that were engaged in this conspiracy to try to take out the president of
the United States.
So the fact that, of all the people in the swamp -- I mean, granted, the
swamp isn't very big, but there are several million people that live in
this area. This is the guy that you come up with, the guy that was accusing
me of federal crimes, the guy that was defending the dirty cops at the FBI?
I mean, look, that's why -- I said this last night in a tweet. The court
must be trying to abolish itself, because there is long-term damage. I
mean, this is just another misstep.
Remember, the judge from last year that now -- there was in charge of all
these FISAs, she claimed, at the end of the year, which was great, oh, my
God, there was a problem here and we need the FBI to do something.
Well, that, in and of itself, was essentially a lie, or very close to a
lie, because she knew from the House Republicans that there was a fraud on
the court.
They had more information and evidence than we did. And so now you have a
new judge who has been put in place, and he picks one of the guys that was
essentially covering up for the dirty cops. You can't make it up.
I guess we're just going to have to abolish this whole FISA system at this
point and try to build something new.

BARTIROMO: What -- I mean...

NUNES: I don't think the American people and Republicans in Congress -- if
this continues, you're going to have a continued concern amongst
Republicans and conservatives that there's really something wrong with the
FBI.

BARTIROMO: Yes.

NUNES: And I don't think that there is. I think they're doing a really good job on a number of fronts.

BARTIROMO: Right.

NUNES: But this court is not acceptable.

BARTIROMO: Which is why this program has been calling for accountability
in the face of all of this.
Congressman, I know you will get it. Thank you so much. We will keep
following your work on this, Congressman Devin Nunes. We will be right back.

(COMMERCIAL BREAK)

BARTIROMO: Senate impeachment trial set to begin soon, likely in the next
week, after Nancy Pelosi says that she will send the articles over this
week to the Senate. It is still unclear if the senators will vote to call witnesses.
Joining me right now in this exclusive interview is Republican Senator Rick
Scott of Florida. Senator, good to see you. Thanks very much for joining us.

SEN. RICK SCOTT (R-FL): Well, good morning.
Well, Pelosi stopped -- is going to stop her circus, it looks like. And she
clearly caved. We're going to follow the rules that we have in the Senate.
And we're going to listen to both sides. And then we will make a decision
whether we have -- whether we have witnesses or not.
But I do -- I would like to hear from Biden, Hunter Biden, and find out --
get to the bottom of that, because so much of this started with what he
did.

BARTIROMO: Nancy Pelosi is on another program this morning, and she said
that -- that the president violates the Constitution again and again.
She was asked, do you think it's possible that the House might have to file
new articles of impeachment? And she said, well, let's just see what the
Senate does. It doesn't look like they're going to stop in terms of trying to come up
with even new articles, sir.

SCOTT: You know, what's frustrating is, I got elected a little over a year
ago. I got elected to come up and try to solve problems.
I didn't get elected to have Nancy Pelosi play games, which is all she's
doing. We have -- we got a secure border, reduced the drug prices. We got
issues. We got issues with Iran and North Korea and things like that.
And she wants to spend all of her time on just trying to impeach this
president because she hates Donald Trump. She's hated Donald Trump, and a
lot of the Democrats have, since the day he walked down that -- came down
that escalator. Why don't we get back to what people elected us to do and solve the
problems of this country?

BARTIROMO: How long are you expecting this trial to go? Do you think that
you will end up getting witnesses in there?
And, if you don't, will you get blowback from Nancy Pelosi?

SCOTT: Well, we're going to get blowback from Nancy Pelosi whatever we do.
But, look, the Democrats proved that the person didn't -- didn't do
anything wrong. That's what they -- that's what they did. The only person
that's been transparent here is Donald Trump.
I mean, he's -- he put out the transcript. They said, oh, the transcript is
horrible. So, I mean, I don't know what we're going to -- I don't know how
you're going to vote on something, when we can even find the crime that he
supposedly committed.
I mean, this is high crimes and misdemeanors. What did he do? I mean, he's
defended this country. He -- and I still -- let's find out exactly what
Hunter Biden was doing. This all started with Hunter Biden.

BARTIROMO: Yes. Yes.
So, you think that you would like to see, then, Hunter Biden come down and
testify? In terms of witnesses...

SCOTT: Yes. Let's get the...

BARTIROMO: Yes.

SCOTT: Yes, let's get to the bottom of it. But, look, the bottom line is, we're going to do this.

BARTIROMO: Right.

SCOTT: We're going to follow the Senate rules. And we're not going to
follow Nancy Pelosi's rules. We're going to listen to both sides. Then we will make a decision.

BARTIROMO: Senator, thank you so much for joining us this morning, Senator
Rick Scott there.

SCOTT: Thanks, Maria.

BARTIROMO: We will be watching. That will do it for "Sunday Morning Futures." I'm Maria Bartiromo. Continue the conversation with me this week on "Mornings With Maria" on FOX Business. Have a great Sunday, everybody.

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