Steve Bannon joined CNBC's "Squawk Box" Thursday morning to discuss the 2020 elections, saying that while President Donald Trump is a "closer," his reelection is "definitely not in the bag."
He said unlike Matt Drudge, he is not yet convinced that Sen. Elizabeth Warren will be the Democratic nominee, but if she is the election will be between two populist candidates, one promising nationalism and the other socialism.
"If you look at her speech [over the weekend in NYC's Washington Square Park], which was quite dramatic, it was really 'Trump-lite.' If that's the case, we're going to have populist nationalism vs. populist socialism," Bannon said. "I think she's clearly defined where the energy is."
About Biden he said, "Trump has shifted this discussion and China is going to be the framing device for the 2020 election. The geopolitical concerns of the nation."
He also said the trade deficit with China "is why Donald Trump is president."
"In the upper Midwest, immigration was an issue, but the issue [there] wasn't so much 'build the wall,' but bring the jobs back. This is about shifting the supply chain back to the United States," he explained, citing the US/Mexico/Canada trade agreement Trump is trying to push through the Senate. "Nobody's talking about it... It makes North America a geo-strategic manufacturing base, the U.S., with Mexico and Canada, you've got the India deal he is talking about, and Japan. Pieces on the chessboard are coming together, and this is the industrial democracies now working together... This is why they say to get the allies together."