Weinberg also suggested he could immediately start discussing within the highest echelons of government the wall he has threatened to build between the U.S. and Mexico, potential deportations and tariff changes, as well as feasibly label China to be a currency manipulator.
"That would be interesting since China right now is manipulating to strengthen the yuan and if China stops at his request, the yuan will get weaker and he doesn't want that," the respected chief economist posited.
"I think the Chinese are playing him like a drum in this regard," he continued.
Contrasting Chinese President Xi's speech last Tuesday at the World Economic Forum annual meeting in Davos, which extolled the virtues of globalization, with Trump's protectionist inauguration delivery on Friday, Weinberg cautioned that he believed serious mistakes are about to be made on trade.
"Listening to President Xi step right up and say if the U.S. doesn't want to be the hegemon on trade and globalism, then we're happy to step up…that's a big change in the world economic order and I don't see how we can possibly benefit from that," he warned.