tv Economic Adviser Larry Kudlow on May Labor Report CSPAN June 1, 2018 5:46pm-5:58pm EDT
cable television companies, and today we continue to bring your you unfiltered coverage of congress, the white house, the supreme court, and public policy events in washington, d.c., and around the country. c-span is brought to you why your cable or satellite provider. according to the bureau of labor statistics, u.s. created 223,000 jobs in may, lowering the unemployment rate to 3.8%. kudlow spoke with reporters about the latest success six and the president's break from protocol when he posted a tweet about the monthly report before its release. >> why was it appropriate for the president to tweet the jobs report performed was released? mr. kudlow: why not?
short sellers might have looked at that and said he is gaming us. he did not give any numbers. thise way, i want to take port, i have been at this game a while, just like years ago. these numbers come out the night before. these days they come to nec. and i make a call whether to let him know or not come and it just so happens last evening i let him know. >> is this against the 198501 b 1985 omb directive -- mr. kudlow: no one reveal the numbers to the public. >> why would the president tell anybody to look at the jobs report if it would be negative? mr. kudlow: it is a therapeutic. i do not know. i take a lot of people were
waiting for the jobs numbers. >> larry, can i ask you about the jobs report itself -- mr. kudlow: i want to inject a radical notion, the jobs report was really good. the economy is doing really well. and kudlow and hassett are doing their jobs. and what folks -- friends of mine, lord knows, on the other side of the aisle, good friends of mine, told us we could not % growth, we are here, and that is the story today. >> are you going to tell the president the jobs number next month? mr. kudlow: i have no idea. i have no idea. a judgment call. he is president. >> larry, can i ask you -- -- mr. kudlow: the tariff ban is important. the way i look at this, first of all, i believe the president
when he says he wants help on this deal, oil production, and the crisis. he wants reciprocity. these are important concepts in the trading game. we tax their cars at 2.5%. a tax -- they tax our cars at 10% or more. having said that -- this is what i regard as a family quarrel, in the conversations are wide open and could well be solved in the months ahead as the conversations continue. change theking -- structure of these things -- appearsily quarrel that to have intensified. [indiscernible] -- it reciprocal word is being used in --
this appears to be getting worse and more intense, not better. mr. kudlow: i do not know, major. i know not worse. we told them a while ago, many months ago, that we want to help on these issues, we want to help, for example, on china's crusade to subsidize steel production, corner markets, shift -- and drive prices down and damage -- they may give it to us, by the way -- -- >> what do you say to farmers who are concerned about their bottom line? mr. kudlow: this is a story that is going to be lay out -- play out for a while, and if you read the statement yesterday, one of the absolute key lines is we are open for further discussion. >> what are you --
>> talking about trade deficits, and when you get nationalism on the site, the government saying we have to protect our -- and that wraps up the it tech ready as a political aspect in addition to an economic aspect --becoming something that takes on a life of its own. mr. kudlow: this is a profoundly international event. nots quite true, paris was my favorite economic policy, that you are in these tough negotiations, something the president has taught me, have all the tools available on the table to get where he wants us to get, and where he wants us to barriers, weour will give you the same privilege, and we will grow faster, our workers will get paid more, and so will yours. president is
talking about trade deficits, but you're talking about trainers -- terrace, and the president talks -- tariffs, and the president talked about trade deficit has of countries are not buying things from the united states, not that they are hiving higher tariffs. is this mercantilism? mr. kudlow: no -- the best way to solve trade barriers is to lower the barriers. tariffs, lowered the nontariff barriers, and let the market operate privately. this is part of our discussion with china, part of our discussion with europe, with our neighbors in canada and mexico. major's point, and some of this stuff is tough, let's agree to have a generalized reciprocal barrier reduction, so everybody wins.
that is the way out of this, but again, the president made this clear, whether in negotiations or enforcement, legally tariffs are part of his ---- >> what happens -- what do you who say this is going to hurt their bottom line? mr. kudlow: the farmers are important. i have been in those meetings. they doing everything can't open their markets, and their manager is trade, not aid. >> but they are going to be losing money on this? mr. kudlow: we will say. >> retaliatory actions from canada -- mr. kudlow: they announce them. >> you may retaliate against those retaliations? mr. kudlow: that is way too far down the line --
talk, all right, and i believe the president is a superior negotiator. so let's see where this takes -- -- >> because you are saying the solution is -- >> the president will go to g7 and when he sits down with prime minister trudeau and have a conversation about nafta and can you shed light on the conversation the conversation trudeau had with the vice president, a five-your something cause, and that will lead to -- mr. kudlow: you will have to ask vice president pence about that conversation. regarding sit down with trudeau, i'm sure there is some discussions about these very points. >> can i ask you about auto -- judgment this my is a family quarrel, a family
quarrel. there is trade disputes, and it is a family quarrel, and keeping the lines of medications over and --this can be worked out. , and i saidimist this when i first took this bob when we had similar -- this job when we had similar discussions. it is a long process. in supreme trade. i believe in it, too. trading-- of unfair practices, if you can take that and clear that debris, he will have the proverbial rainbow at the end of which is a pot of gold, and when you open up that pot, we will have faster economic growth. that is why trade reform is important.
it is if done properly. trade reform is a growth policy as long as it is done. that is what president trump wants. >> [indiscernible] autos orask you about equity. there are a number of people concerned in germany -- [indiscernible] >> congress returns next week from the memorial day holiday. the senate monday to debate judicial nominations for u.s. district court in kentucky, texas, and alabama. the house returns tuesday to work on its first spending bills for 2019, and work on water infrastructure projects. you can watch live coverage of the house on c-span, the senate on c-span2. c-span's "washington journal," live every day, with issues that impact you. saturday morning, goldwater
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