Donald Trump’s trade and immigration policies got a big endorsement Thursday from Liberty Media chairman John Malone.
“I think America really needs to reinvigorate our industrial base,” Malone said in an interview with CNBC’s David Faber at Liberty Media’s investor day.
The billionaire investor said that while tax cuts are an important part of that, they aren’t enough. America also needs to reduce immigration and trade deficits, according to Malone.
“It’s all about supply and demand for labor. And productivity,” Malone said. “Trump’s right to hold down immigration because that’s supply and he’s right to try and reinvigorate industry in America. And he’s right to put pressure on trade imbalances.”
Malone pointed out that tax reform can only go so far in helping middle and lower-income Americans.
“People who pay little or no taxes, it’s very hard to take care of their financial situation by cutting taxes further,” he said.
Malone also said that he would emphasize improving education in America.
“If we could add improvement in the education system [to Trump’s trade and immigration policies], then I think we would have a formula to make America great again,” he said.
Earlier in the interview, Malone pointed to “training programs, apprenticeship programs” as the type of educational improvements that would help.
Watch the segment.