tv Cavuto Coast to Coast FOX Business March 6, 2018 12:00pm-2:00pm EST
those losses are boeing and unitedhealth. not sure why. maybe tariffs for boeing. >> the market is struggling for direction. paul ryan came out with negative comments about the president's tariff. >> we did our best. have to leave it there. connell mcshane is here. connell: welcome to cavuto coast to coast. i'm connell mcshane, filling in for neil. despite pushback for his own party. we've seen stocks move up and down. certainly more down than up. reports on division in the white house over the tariffs. comments coming in from capitol hill, the speaker of the house, who seems to talk the president of the ledge on all of this, that would be his point of view.
don't forget north korea is in the market. we'll get to that in a few minutes. start with blake burman at the white house, joins us from the north lawn. the question for you, blake, should always be time-stamped. say it like this. 12:01 on tuesday. what is the latest? reporter: where do things stand at this very second? could they change by the time the live hit end? of course the caveat from the white house. i start connell, with comments president trump made yesterday, he does not think that we'll eventually get into a trade war, even though on friday he said trade wars are good, the president seemed to back that off a little bit, hey, we don't think we'll get into a trade war. then also seemed to take a new negotiating position as it relates to canada and mexico saying if a fair nafta deal is renetted they would not be subject to these new tariffs on steel and aluminum. i bring that up because the treasury secretary steve mnuchin has been testifying up on
capitol hill earlier this morning and he once again reaffirmed those positions from the president. listen to mnuchin from earlier this morning. >> to the extent we're successful renegotiating nafta, those tariffs won't apply to mexico and canada but we look forward to the president releasing the specific details and working with other people. we're not looking to get into trade wars. we are looking to make sure that u.s. companies can compete fairly around the world. >> see if the results materialize. reporter: mentioned paul ryan, he continues to be one of president trump's biggest critics. held weekly news conference on the hill. he says he wants the president's actions to be mortar getted. >> there clearly is dumping of steel and aluminum. that is happening there. is big overcapacity problem. focus on that. focus on abusers of that. that is why we think the proper approach is more surgical
approach so we do not have unintended consequences. that is what we're encouraging the administration. reporter: conservative groups are rallying, trying to get a message to the president to rework the ideas of 25% of steel and 10% aluminum as it appears from his top trade advisor, that it is a firm line in the sand. the conservative groups sending a letter to the president saying following, connell, we appreciate your work cutting taxes promoting america, tariffs on steel and aluminum will be a tax on the middle class, from cars to baseball bats, even beer being more expensive. have it at 12:03:29. hitting 12:03:30 connell with that is latest. connell: check your phone. there wassing nothing i don't think you missed this time. thank you, blake. blake will be there for the joint news conference and
president and leader of swede enlater he may be asked about all of that. gary cohn, president's top economic advisor, there are reports, bloomberg and others mr. cohn is pushing to meet with executives impacted by the steel tariffs. whether or gnat that meeting actually takes place at this point appears to be up in the air. if it were to take place it might be later this week. okay. to "the hill"'s contributor liz peek, we have jason meister and radio talk show host ben kissell on all of this. let me start with you, liz, we could start a number of different places what blake said, paul ryan and others, people in the president's party, including paul ryan, trying to talk him out of being more aggressive on tariffs. what did you make of ryan argument, china is doing stuff they shouldn't be doing but this is not the way to go about
punishing them for it? >> i think that is totally right. we have not seen where china steel is transshipped through which country. we haven't figured out where the tariffs should really land. connell: right. >> this is a confrontation and schism in the republican party that has been long time coming. you have the chamber of commerce republican party. and trump supporters that don't everything good for big business is good for the workers. there was bound to be some issues which there would be this divide. i continue to think this is a big negotiating position for donald trump. we are in the midst. we finished the seventh round of nafta conversations which have not yet been resolved. the chinese finance anyone sister was in on thursday. sent a tremendous message to him. i think there is a lot left to argue here. connell: well we heard it, go to jason next, we heard it twice in the last few days exactly what liz was saying.
first from the president yesterday and what blake reported from steve mnuchin today, if you do right by us by nafta, renegotiate it, canada, mexico, it won't apply to you. that leads to the theory it is negotiating tactic. do you think it's a good one? >> i do. we to recognize a we have a businessman in office. we don't have influence-peddling community organizer. he is negotiating better trade deals. we had terrible trade deals for 20 years or mo. we have a president that will reset the table. he can on campaign for the american worker. he will make sure -- he ran against republicans and democrats on this issue. he puts american worker before everything. connell: you're chomping at the bit, ben? >> he did run on campaign for the american worker. irony of tariffs would hit american worker specifically farmers in the home state of wisconsin, michigan, all across rural america would be devastated. more times likely use steel as opposed to create it.
so it is, horrible idea. >> the problem with it, those numbers pretty much indisputable, that it is so far off the grid in terms of number of companies making steel, if you look at employment totals, jason, 140,000, versus the companies that use steel, that is 6.5 million. >> but the world makes too much loom null and steel this is about preserving precious metals which is national security issue. which is we have to protect ourselves. the president ran america first. these are america policies. connell: larger issue. that is it interesting point jason brings up on national security. that is the argument in the trade law the president is using here. but with the comments we've seen last couple days, this is pointed out by karl rove on this morning with maria, the president said i'm using this to leverage canada and mexico on nafta. so that kind works against his own argument which he will have to defend in front of the wto.
>> i think that is right. that complicates whatever negotiation with the wto they could say this is illegal based on what you said. that is mudding of the waters. too bad the trade discussion has started here. the fact we need a trade discussion. we are the most generous country on earth. connell: where would you start? >> much more targeted things. talk about automobiles where we have almost no tariff on cars coming in and everyone else has big tariffs on cars going out. connell: right. >> there are all kind of places we could negotiate. this is maybe not the strongest. connell: what about intellectual property? that is big one with china. go ahead, ben. >> one of the areas i heard discussed xi xinping made himself leader for life in china. they will win a trade war. they have all the time in the world. >> to be fair, unless you twice correct me on this, i don't think anyone wins trade wars to be honest. we don't have very many of them, the one most given as example
1930s, with smoot-hawley, got out of control. nobody particularly wins trade wars. it is typically a lose-lose situation. >> if all the countries cheating us so many years and finally stand up for our own country, i don't see the problem. connell: the argument, how do we do it. the argument how we do it. >> what we've been doing under wilbur ross is better enforcement. if we're not stepping up saying you are infringing this agreement we have we should be doing that. that was great when he was doing that, maybe not this we have now. connell: i want to ask jason a political question, and this gets to the heart of what paul ryan is doing here. president is not on the ballot in november. all of congress, at least all of the house is and many members of the senate are in states where this will be a big issue. seems like from what the republicans are saying in congress that they're concerned about this hurting their midterm chances. your view on that, whether the president will listen to their concerns? >> i think it is going to
actually help. i think you have, he is being production back. look at tariffs they did on solar and look at the results. it will have the same effect here. connell: the results being more jobs created in the united states rather than shipping them in from overseas. >> that's right, correct. connell: ben on the political, who wins -- who wins and loses on politics of this particular -- >> i think republicans lose on this i think bottom line is american workers will see increases prices and it is going to hurt them at the grocery store and supermarket. that is really -- >> i think that is right. all you need one or two companies saying gee, we were building a plant in the united states and now exporting there. but that did you. >> same situation with george w. bush in 2002 he passed tariffs. lasted one year. 200,000 jobs lost. they're predicting 176,000 jobs lost, 33,000 created. i don't get the math. connell: there was one study, down 146. tough to presick that was tough
to predict on tariffs. we have to move on and talk about one of the other big issues, north korea. always see headlines that suddenly kim jong-un is taupe to talking about getting rid of his nuclear weapons, but, can he be trusted on that or anything else? new comments on it coming up. first lawsuit filed over the dick's sporting goods and walmart move to raise purchasing age for guns. we knew it might happen. we'll talk about the legal fallout as "cavuto: coast to coast" continues.
connell: we're back here on "cavuto: coast to coast." you may have seen headlines all over the place when you woke up, how north korea is open to talks, maybe talking about the their nuclear program. president trump had a tweet earlier today, while that might be a positive sign the u.s. should be skeptical. that is what president said. "wall street journal" editorial member mary kissell on this question whether kim jong-un can be trusted. >> great to see you. connell: i can answer that question myself, that he can't be trusted. what about the reaction that is is open to talk about his nuclear program. what do you make away from that. >> this is cycle. the north always does this
squeezed on sanctions front. then they're ready to come to the table. agreeing to talk to north korea is not cost-free. remember we had six-party talks during the george w. bush administration. same cycle. we pressured them on the banking front. it was hurting the north. then they wanted to talk. guess what? the wmd program continued as they were talking. if the south agrees to the talks with the north, same thing will happen. not cost-free. they will use that time. connell: how does that play timewise? you were in asia at time covering it, last time around, you're referencing here. that would be important for how the white house deals with this they're looking at it, trying to figure out or maybe already have the position, hey should we participate in these talks if they take place? >> the south korean president moon has put the white house in a very difficult position. again, another cycle, leftist south korean president who paid to get in with the north. connell: people should know that, maybe they do.
people who don't know about moon, that is his mo, he is open to talks as a leftist leader. that is his side of the table. >> back in 2000, kim jae young paid million dollars to get the summit with the north. now they pay for these guys to go to the olympic, sure enough the north wants to talk. the goal for pongyang, when they talk about security for north korea, what they're really saying is we want u.s. troops off the korean peninsula. that is what they mean when they want peace and security. connell: that is an interesting flip around, because we keep saying from our point of view they have to be open about getting rid of their nuclear weapons before they are going to talk but they have their hen hid open messages in there. >> they do. seoul is putting white house in tough position because moon paid. >> what should the president do? >> he struck the right tone in
the tweets we're open to talks but we don't want false hope. we've seen this cycle before. we shouldn't get the north time toville the wmd, by the way they're selling to places like syria, places like sudan. north korea, if they're engaging in talking they're buying time for themselves. connell: i was looking at, the dni was up on capitol hill today, dan coats, he was asked about a lot of things. this is one of the things he asked about, he said, hope springs eternal, that struck me as skeptical take by him. he did say later, i am quite skeptical about all of this. what do you know about our tell against? how much do we really know what is it going on? >> i think our intelligence is a lot better than 10, 20 years ago, because this white house prioritized intelligence on north korea. south koreans also have a very, very good intelligence program vis-a-vis the north. hopefully we're cooperating with them. but again tough line for trump to walk because he has to acknowledge that these talks aren't going anywhere. we know that they won't. he also can't undermine the
south korean ally where the south says, forget it, united states, we'll continue on our own. connell: necessary perspective, if we're getting overly optimistic we shouldn't be. thanks for being here, mary. >> thanks. connell: sam nunberg story if you paid attention you nall learned the name sam nunberg. he did all the interviews yesterday. there was this talk whether or not he would cooperate with the special counsel. we have a panel coming up to talk about this. charlie gasparino is on the panel. charlie has some new information today on all of this. that is coming up after the break. whoooo.
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♪ everything is working, working, just like it should ♪ connell: now let's get to the sam nunberg story. former aide to president trump before he was president. had quite a day yesterday with this media blitz talking about the mueller investigation and supposedly going to defy a subpoena and not cooperate with the special counsel. we have new information on all of this today. let's bring in our panel to talk
about it john decker is here. former fbi assistant director chris schwec kert is here but start with our own senior correspondent charlie gasparino with new information. what do you know about sam nunberg? >> i know a lot. we're in a business where friend become sources become friend and sam is a friend of mine. disclose that right off the top but he is a guy that needs some help. from what i know he is going to cooperate now. he is fully cooperating, handing oaf all emails through his lawyer to the special prosecutor mueller. he is also going to seek treatment for, you know, what ails him. what i said -- connell: substance abuse you're talking about? >> there is something. drinking i believe is the big part of it. connell: okay. >> that is what happened yesterday. that is where the story actually goes from here. when i interviewed him, i interviewed him early, he was,
he admitted to me was drinking. i asked him several times why he would want me to report what he went public with? connell: about the subpoena. >> that the subpoena directed to him. that you know, he has been called on friday. i first i said, can i report that? i said, are you sure you want me to? i know the guy. if i know, beat on sam nunberg appearing before mueller story, it is not going to kill me. i broke a lot of big stories. connell: i hear you. >> it is not worth blowing some guy up, because i know he was also telling me how much trouble he is going to be in this story gets out. are you sure you want me to do it? are you sure? he kept saying, yes, yes. i want to think about it. he goes like can you do it immediately? he wanted me to do it in claman's a block. i said we'll do this right if we do it. connell: 3:00 in the afternoon on fox business. >> we have people to call. what happened we had a debate whether we should trust
information from a guy that was einebriated. in the middle of that debate, which lasted 45 minutes, me and my producer and charlie brady the news editor here. connell: okay. >> did his, he went to the "washington post." and then he did a series of interviews. connell: went on with kate at this tur of msnbc. >> that is where it went off the rails. connell: right. >> so clearly, so obvious that he, that he was not in right frame of mind. you have to ask yourself, i may cut katy tur a break because she is the first one. connell: wouldn't know him. >> who knows. i listened to his voice. it didn't sound right. you're putting a guy on with some issues that it making claims and names about the president of the united states from a legal standpoint. connell: right. >> and i'm like no trump backer. i'm pretty tough on this stuff. connell: okay. >> here is the other thing, connell, real interesting thing, when you cut through everything sam said yesterday, 99% was
reported already. the only thing that wasn't reported, a, grand jury thing. not biggest story in the world, we know he is already before mueller. it is just a marginal step forward. the thing that wasn't reported but spectacle of him imploding on air. for ratings, people ate it up. it reminds me of the story from don henley, dirty money? excuse me, dirty laundry. connell: it was don henley. >> it reminds me of that song. connell: let me go to john on this, chris as well. john decker at the white house. follow all of this. john is lawyer, which may add to your perspective on all of this, but first, so a couple things. on the news value of what happened yesterday, what was your take on that, how it was reported? then there are legal issues here i suppose if someone as charlie reported today, seeking treatment. how that might impact the special counsel investigation and testimony that may happen on friday? >> sure, as far as the news
value is concerned the fact that someone very close to then candidate trump is defying or would be defying a federal grand jury subpoena. that's news. we haven't seen anything like that so far. connell: yeah. >> i can understand why "the washington post" reported this story initially and follow-up by all the different cable channels that interviewed mr. nunberg. keep in mind this, is ratings catnip. you know the fact that he was saying what he is saying in apparently the state that he was in. so you can understand why various producers wanted to put mr. nunberg on the air to make claims against president trump. connell: and idea or do you have any perspective to add on the idea if he is, does have issues and he is seeking treatment, would that impact the special counsel's investigation, potential testimony before a grand jury? >> well, absolutely. you want to have a credible witness, if indeed this person is going to be used by special counsel robert mueller as a witness. so that's the reason why i believe he was also requesting
all of these various documents including emails, given the fact he is not that credible, based upon what we saw yesterday on various cable outlets. he is not a witness that you want to sort of go to the mat on. he is troubled. connell: that is good question for chris as well, former fbi assistant director. how credible is sam nunberg after yesterday as a grand jury witness. >> i have to think he was a known quantity to mueller and his team before they issued the grand jury subpoena. i would say he is pretty well undermined any credibility he had. as i said i think they knew about him before they issued the grand jury subpoena. i suspect he is marginal value to the team anyway. connell: may have known about all the e pails. >> more than certainly. >> i agree with that statement. i know a lot about this. i've been doing a lot of reporting, particularly on, with sam and others about you know, who they have on the hierarchy. mueller's team spent four hours
with sam, three or four hours with sam last week. they spent something like 12 hours with steve bannon when they brought him in. you know, he is not the biggest fish here. and he wasn't really a part of a campaign, he wasn't actually part of the campaign. remember he got fired before trump actually dived in. he knows when trump decided to run. i'm sure he can dot a couple is and cross a couple ts. and i just get back to this what he said yesterday, aside from the craziness -- >> didn't add much. >> wasn't particularly newsworthy. connell: as jon said if he was going to not cooperate -- >> a low level guy, you know, goes off the deepened and says he will not cooperate. and then it basically, engulfs, engulfs -- no, wait. connell: there was initial value. >> there was not just the one story. it engulfed, engulfed it in a
way he was being interviewed and people just let the tape run as he was going off the rails. and i'm telling you, listen, i'm in this business. we all look at ratings, right, i get it? we want things to wait but we do have a responsibility as gatekeepers, what does this guy add? are we hurting him? i was worried about hurting him. connell: i have another story, jon decker, toss it to you on the fly. kellyanne conway related story, as office of special counsel sent a letter, sent an investigator report and they do find kellyanne conway, advisor, counselor to the president, violated something called the hatch act by advocating at the time for roy moore, running for alabama senate. i guess the idea, jon, you're not supposed to be making political statements in your position in the white house. the findings way they worded say the president could seek appropriate disciplinary action. what do you know about this?
what could happen as a result of that to kellyanne conway, if anything. >> wetpunishment would be up to the executive office of the president himself. my guess the president will give her a little slap on the wrist and say don't do these things again. the only person who is exempted from the hatch act is the president. that is why he can do the campaign-style rallies he will do this coming weekend in pennsylvania. kellyanne conway is not exempted. sarah sanders, white house spokeswoman is not exempted. this is something you have to be careful of when you work on behalf the president. connell: especially the president is officially announced he is running for re-election. >> let's be real clear. the real crime here is the fact they both supported roy moore. hatch act or not, this brings that back, that they have that type of judgment. connell: has nothing to do with the, has nothing to do with the special counsel investigation,
kellyanne conway story. chris, i didn't get as much i would like. i apologize for that. charlie comes back in a little while. the northeast bracing for another storm. supposed to be crazy around here tomorrow. we'll get to that. we have more news on markets and trade. we're down 140 on the dow. coming back on "cavuto: coast to coast." you still thinking about opening your own shop? every day. i think there are some ways to help keep you on track. and closer to home. i'm all ears. how did edward jones grow to a trillion dollars in assets under care? thanks. by thinking about your goals as much as you do.
connell: with everything else going on don't forget the weather is supposed to be horrible. heavy snow blanketing parts of the northeast again. adam klotz in the weather center. what is the track on this storm, adam? >> connell, we're watching this thing come together at this point which gives as you little wiggle room on the track but here is what we know right now. we're paying attention to the northeast where we're waiting for the system eventually to form heading up the east coast early tonight and tomorrow. it will be a big one.
winter storm warnings from philadelphia to new york, up to portland, maine. the coastal cities there is a little bit of discretion with this. this is our future satellite and radar. what we're looking at where is the rain-snow line going to form? everything is hinging along the i-95 corridor. perhaps if you're farther off to the east you get more rain. if you're farther to the west you will see more storm. if this shifts a little bit farther off towards the east, that means really heavy snow in places like philadelphia and new york city, maybe as much of as a foot. that is what we're waiting it time out. we'll know that later today getting into tomorrow. potential snowfall in some areas, fairly widespread, getting six to 12 inches of snow in some spots. especially further inland, you will see 15 inches of snow or more with the system. as far as the indecision goes, you see a couple different forecast models track this going differently. some cities with the euro model, taking this up to half a foot of
snow. another model giving you a cowell inches of snow in major cities. farther inland, absolutely everyone sees the big snows. this is nor'easter. it is not all about the snow. we'll talk about freezing rain if you're not getting snow. we'll talk about wind. everything you're looking at in the red getting from new york across long island, stretching up toward boston, those are 50, 60 mile-an-hour wind, connell this will be a nasty system whether you get the 12 inches of snow or just a couple inches of snow i think this one will be a problem. connell: for the way home tomorrow. >> exactly. that is the timing. connell: way in. thanks, adam klotz. get back to the trade story that has the market bouncing around today mostly lower, 117 on the dow. one of the things out there comes from the european union where officials proposed 25% tariffs on american goods. a number of different things in response to the suggestion from the president of the steel and aluminum tariffs. europeans want to come back and tax our items, whether blue
jeans, harley-davidson motorcycles, bourbon, orange juice on and on. the federalist staff writer bre payton and a republican advisor is also here. let me start with you, this is the fear from people, this is how these things develop what we call a trade war. i should point out the european plan, such as it is, if it ever goes forward is targeted at, appears republicans. they want to go after republican states and the products that are made in some of those republican states. you don't hear for example of california wine which is made in a blue state a democratic state being on their list. that is actually true. what do you make of all this? >> this is some kind of a pushback from the european union was to be expected. we've known they were upset about this for quite some time. whether or not they actually go through with it remains to be seen. a lot of details about trump's proposed tariffs remain murky. there is a lot of questions. i mean, really just, isn't it,
so, okay we're proposing these tariffs. we're getting some pushback. it raises a lot of questions about the long-term benefits. are we playing a larger game of chicken or poker to negotiate and get better trade deals going forward. connell: right. >> that is something we should be talking about and thinking about. connell: the, a lot of people have the last two days, since the president's nafta related tweet came out yesterday and some of the comments he made in the oval. we see what he says today, at joint news conference, never sure, but probably asked about trade by one of the reporters at the news conference. the question is, lee, are we seeing a major shift in strategy from the white house as opposed to just negotiating on one or two trade deals where you will see a move away from globalism, which seems to become a dirty word towards nationalism as president would say it or protectionist trade policies, we're going to be more protectionist? >> well i think we are and i think that is terrific because president trump is exactly right
on the trade issue. the establishment republicans like paul ryan are dead wrong. connell: tell us why. we've been, talking about economics though, a lot of people say, i talked about globalism being a dirty word. for years the word protectionist had been, you don't want to be called a protectionist, i'm not a protectionist. not only is the president that but it's a good thing, explain. >> yes, connell as to the european threat, we have 150 billion-dollar trade deficit with the eu. so why don't they do that. let's see how that works out for them. we overall have 800 billion-dollar goods trade deficit in this country. that translates into 3.5 million jobs have been sucked out of you are country. you know what? we have too many people in the republican establishment that are worried about capital flows and dollar flows and want to rationalize this, the numbers don't lie. 800 billion-dollar deficit year after year. it is expanding.
only country, major trading partner it is going down is south korea. we have to absolutely do it. i recommend a change in strategy, take it a step further than the president has, uniform import tariff on all imported goods. i would say, 10 to 15%. connell: oh, wow. >> that way you're not penalizing any specific countries that would raise in revenue over the 10-year budget window over $2 trillion. that is enough to make all of the middle income tax cuts in the trump tax relief that was just passed permanent, so they don't expire. it is enough to fund repeal and replace of obamacare. enough to seed an infrastructure bank and go after trillion dollar deficits. connell: you ratcheted up another notch or two. >> that is what ought to be done. connell: lee is making making this zero sum argument game which the president argues for some time. trade is zero-sum game, you win or lose. people say it is not that simple, both countries win even
if there is so-called deficit on one side. what is your counter? >> i think that, i think that industries are regulated to the least degree possible for, i think free trade is a good thing when both entities are acting and behaving equitiably and fairly. >> and they're not. >> i think what we have is not really free trade. connell: that might be true. what do you do about it? lech you take it first, bre. >> sure. connell: i'm sure your suggestions wouldn't be as draconian or aggressive as lee is saying. what do we do about it? not saying there is not a problem. >> yeah, absolutely there definitely is a problem. imposing a steel tariff raises a lot of questions. approximately, by harvard estimates 80 times more industries that employ0 times more companies, that use steel to make goods than those -- connell: far more using it than making it, far more. >> not just, it is not just industries that make things out of steel. it is things that are made out
of plastic. this bottle cap in my hand. made out of plastic, polly carboknit plastic used in a steel mold a lot of plastic parts, plastic things, everything basically will get more expensive because of steel tariffs. connell: by the way the market is off. we're only down 78. this will have to be the last point, lee, go ahead. >> they often, the establishment and so-called free traders raise the thing components costing more money. that is a big part of our trade problem. we need to repatriate the american supply chain. we need to bring those jobs for the components back here, 800 billion trade deficit. 3 1/2 million jobs. we need that. we also need revenue from a trade tariff to make them middle income tax cuts permanent. very important. connell: this is what the arguments sound like with gary cohn and peter navarro standing in front of the president's desk. >> cohn is wrong on this one, dead wrong. connell: thank you, lee, bre.
this is good discussion. the market has come off the lows. keep an eye on that at the bottom of the screen as we talk about the big stories like this one coming up next. mcdonald's. so obviously mcdonald's makes a lot of burger. they're changing the way they make them, and, that is interesting because almost plays into what we're talking about there, how prices go up for things. so if you change the way you make your burgers, costs you more to make them, do i pay more to go to mcdonald's? what does that mean? that's next.
connell: we're back with a business alert on mcdonald's. their stock down a little bit today. saying they will swap out frozen beef patties for fresh ones in the quarter-pounders, they will do that by may. as signed this story to lauren simonetti for some reason. she joins us from the newsroom with details such as they are. the price would go up. >> one would assume. i hoped this story would involve a taste test. it does but you can't get fresh beef quarter-pounders in new york yet. first time in 45 years, mickey d's is grilling the iconic quarter-pounder with fresh beef. they're sold at 3500 mcdonald's at across the country. all 14,000 get them by may.
it is coming soon we'll do that taste test. this has been a major investment for the company and for the franchises. first they had to buy new refrigerators and containers to store the fresh meat. they had to insure when you make the burgers to order you don't slow down the process, customers don't wait longer particularly at the drive-through. i did research, connell, the restaurants i spoke to, cooking to order with the fresh meat it, really only adds about 60 seconds to the wait time although they caution if they have a lost orders coming in at once, obviously that would slow things down. as for the price, many franchisees spent tens of millions of dollars to upgrade the facilities but do not at this point seem to charge more for fresh quarter pounders. that would be a problem. mcdonald's launched a couple of promotions, new dollar menu could cannibalize sale of other products, cut into overall revenue. look at shares, they are down about 12% this year. as for the taste, apparently the
fresh burger taste a lot better. juicier, less rubbery. people like them. connell: less rubbery. it is fresh beef now, not so fresh before. or like you remember they did the chicken thing, we have real chicken and our chicken mcnuggets now, brings up question -- >> without antibiotics now. connell: what was that i just ate before. >> brings up another question, connell, no ketchup for you, right? connell: no, i like ketchup. >> no cheese. connell: no cheese on cheeseburgers or on burgers. only one many. >> no cheeseburger guy. connell: i like pizza. this is too long of a discussion. we'll have you follow up on this, all right. >> in may, taste test totally happening. connell: thank you very much, this next story is interesting story. talking about this a lot yesterday and for the last number of days.
neil had the guest over the weekend on it, another person, 20-year-old man from oregon is filing a lawsuit against dick's sporting good and walmart for refusing to sell him a gun. want to raise age from 18 to 21. bring in attorney debra blum to talk about that. what do you think, debra? the guy has a case. private companies made the decision on their own, raise age to 18 to 20 one. is there age discrimination case to be made. >> absolutely. there is member of protected class in oregon. when you think of age discrimination lawsuit, you think of protect for ages 40 and above. oregon has minimum wage of employment discrimination suits of 40. this is retail discrimination in place of public accommodation. oregon is one of states bans retailers from discriminating based on age, providing
protections for those 18 and over. they have carveouts to say stores can't sell alcohol or marijuana to those under 21 but provides absolute protection for those 18 and above to purchase rifles which this individual wanted to purchase. connell: okay. so we were having this discussion yesterday. another lawyer on said to me, well that is fine there. are certain states, you point out appears oregon is one of them, you could make a state case of this. you might have a case to be arced but dick's sporting good, walmart, either one could come back, you know what? we're doing this for the public good. we're doing this to save lives. that might be the argument carries the day. what do you say to that? >> that will get them out of damages because this individual is seeking damages. that won't get out of suit. the law would have to be changed before they make that argument. connell: what happens? they have to change back way they were? >> it's a question whether the policy of the state of oregon, the law will be amended to also
include not selling rifles to people that are under the age of 21. connell: okay. so you mean all, so, it wouldn't be a certain type of gun versus all guns, is that what you're talking about or something different? >> actually in the state of oregon you can't sell a rifle to someone, actually, a rifle you can sell to someone that is 18. connell: right. >> a shotgun is only someone over the age of 21. this would have to be apply specifically to rifles, saying you can't sell any guns, including rifles to people unless they are age 21 and above, because you can't sell alcohol or serve alcohol to someone who is under the age of 21. it would have to be similar provision. connell: got it. it is interesting because this is, and that is the case, or argument debra is making. this is state to state. could be difficult in florida, oregon and different in new york. we'll follow the case as they
come up. >> thank you. connell: back to the trump tariff story. the market really come off the lows. we're only down 40 points or so on the dow, but idea of tariffs facing a lot of pushback, the president's idea from people in his own party. powerful people like speaker of the house. can lawmakers do anything to stop these tariffs. that's next. ..
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connell: welcome back to another hour, hour number two of cavuto coast to coast. i'm connell mcshane filling in for neil. can congress stop residence cares? they have not ruled out potential action down the line, but it may not be that simple. adam shapiro covering it all. only something they can do. >> simply put, there is nothing congress can do, too little too late down the line because they have to change the law if they take authority away from the president to stop the executive branch from instituting tariffs. let's get into its happening here. first you have congressional leaders, republicans concerned about the impacts of terrorists and paul ryan, speaker of the house said they are more targeted, kind of like taking a scalpel to the problem. here's what he said.
>> it's a little too broad and is more prone to retaliation. it's clearly a legitimate problem and be more surgical and the person we can go after the true abusers about creating unintended consequences are collateral damage. >> 232 is a section of a lot that's over four decades old, which gives the president the authority to impose mike lee has introduced legislation that would remove the authority of the executive branch and return it to congress going forward. the chances of the legislation passing in the president sign it into law, you see what it is too little too late. the authority lies with the executive branch. what is actually going on here with 232 and the implications of that? we spoke with the vice president from high capital markets and he said this could be a dangerous
move. take a listen. >> believe bill is rather large to reinstate congressional authority the president has been in -- and i send democrats that protect for instance. to get a veto proof majority or override a veto would be a legislative that would be incredibly difficult at this point in my opinion. connell: for those who are trying to figure out what congress can do. there's not a whole lot. you can save you do this we will hold this. congress has its hands tied. >> of course the political ground gets to the midterms or something like this. it's good. adam shapiro on capitol hill. one more item to all of this.
i was on morning six maria with maria bartiromo and we were talking to some degree about what adam was just explaining to the logic the president is using in the argument legally for imposing these terrorists. carl made a very interesting point, at least i thought it is interesting that maybe the president stepped on himself in terms of explanation a little bit invalid pathway could come back to haunt him. >> is that i'm willing to give on canada and mexico if they give on nafta. well, what is done is given them the evidence that if we do have to go before the wto, the president said it was for national security, but then he admitted he was using this as leverage to get a better trade deal and that will undermine the cases that the wto. connell: let's bring in former george w. bush speak writer, also "the wall street journal" editorial member bill laverne
and market watcher keith fitzgerald. speaking of the markets, way off the low. take up this issue if you can. an interesting argument that i hadn't thought of their karl made this morning as you're going to say if national security on one hand and tweet about it being leveraged on nafta on the other in that may back to haunt the present. what do you make of that? >> i think tariffs are a bad idea. no economy believes they really work. so i'm not surprised that an argument doesn't work out. kinematic threat to our national security and the argument that we need is a steel industry for national security. they wouldn't be able to buy steel anywhere. you can apply that to computer chips this is a bad idea and i'm not surprised.
speaking of political come in the comments earlier paul ryan and satellite knowledge i had an issue here than in his estimation in the estimation we should deal with. this is the wrong way to go about it. what do you make of the writing approach as opposed to what we now know or think at the trump approach? >> a likely try to avoid directly taking on the president in this way and in a something and there's been a lot of evidence that chinese products are actually being folded below the cost of production which means you can't compete. he's trying to stake out ground that he could work on what the president without having a public site within the party. >> whatever this means in real time, which brings up the point if you're the president in the middle of a market day without having policy out entirely.
as gary cohn going to leave. would he say something this afternoon? how are you handling that. >> the key is no sudden moves. they place the bets of trillions of dollars in real time. i don't like terrorists. ever at all. you can do something that makes sense to me our review of bill on now? >> from a financial standpoint, quotas and things are always more effect to taking a sledgehammer commending you
don't want to do it. the economic damages while a documented history. they are charged with profit to matter what the market conditions are not the one you want to focus on is what are the ceos doing and how they can handle it because the best companies defend themselves. tree into obviously not the same. some pointed out that certain companies love it and actually happen to be looking at the stocks that psycho to you. of course if you are a steel company like something that gives you some sort of a competitive advantage or at least you perceive it does. the broader numbers are clear that this would hurt more than it helps. >> the benefits are very combined i think the economic reality is that countries do cheat. they do subsidize, but no one found a way to really punish
them its difference politically because it looks like. connell: are you saying there is no money? it's narrowest possible. i am not sure without having this collateral damage. remember, the collateral damage its innocent parties have done nothing wrong and they find their costs going up. connell: many of those could be trump supporters are would-be trump supporters. that is what is so terrible about this. how do you think that will play out in the midterms? >> we are too far away to see. again, when it comes to you fire the bullet you see where it hits.
connell: and a car, your take on that. spin that politically it is not helpful when trump is taking the credit for the state of the stock market if there's fluctuations in people. investments are losing value and having the uncertainty that doesn't look great going in the midterm, not to mention the risk of inflation. connell: that's another part of it. i don't want to get into it and the one or two minutes we have left, but that's a whole another part of it. this is part of, why don't you take that come in the whole idea that all of these policies we are pursuing right now on the fiscal side with the deficit spending, whatever you think of it, military, social programs, whatever you think of you think i've added to this, be inherently inflationary because prices are going up, but could be more of a problem than we think come the end of this year. would you say, keith? >> there were two takes on that, connell. you are absolutely spot on. the average american is feel inflation far more significant in terms of medical bills and
education. then the government lacked on the so-called core inflationary indexes already out of control. so the average individual has to look at the same i going have to pay more for my goods at wal-mart? will this affect how i live? that's where the decision gets tough. it's personal. >> we don't have a policy. we don't have a proposal yet from the president so we are still waiting for that officially. all this back-and-forth is going on. thanks to all three of you. move on to talk about north korea in the news today, maybe the market to some degree. the talk is north koreans are willing to talk about nuclear weapons. so much skepticism to that statement and some of that skepticism coming from the menu are looking out on the left side. president trump. more after this. - there are tens if not hundreds of thousands of jews
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intelligence, dan coats on capitol hill same time will tell if north korea is really serious about denuclearization and whether kim jong un can be trusted on that topic or any other. from the austin institute, senior fellow right now. you have people excited or at least optimistic this morning with reports that north koreans are willing to talk were considered getting rid of their nukes. dan coats went on to say that he is skeptical of all of that. what you make of it? >> you should be skeptical. the only thing i am hopeful is that the trump administration isn't going to be so foolish to fall for this. this is what north koreans do. just a week ago, 38 north is a website that provides expert analysis of north korea and they just said it looks like north koreans are once again producing are working on nuclear warheads. this was just a week ago. this is not evidence of her pet and stay put once to be brought into the national community.
this is evidence that the north koreans are not serious here they are pulling united states around, buying time to continue programs. connell: we've seen the south koreans video that's been put out of that with a delegation of north korea to hold these face-to-face talks with kim jong un, something i don't believe that's happened since he took over as leader of north korea. they'll come back now to south korea in their delegation will come over here and report to the u.s. on how that went. how should the trump administration handled that? i recently don't have the information about what was said back and forth, but what's the move? >> the trump administration is to affirm our close relationship with the south koreans, understanding they are desperate for some sort of diplomatic breakthrough, but let them know this isn't just about time. it's about us. nuclear icbms are pointed at the united states. it is not just about done.
affirm that the alliance is strong between united states, japan, south korea. they want nothing more than to break up this alliance. i guarantee what they want in exchange for some alleged freeze on their program is the united states to get out of south korea. >> that is what mary kissell was saying. should we be helping, should direct talks even be on our radar? >> you know, if they even say we are willing to roll back or nuclear program and we can have a diplomat walk-in and sit down and say what are your current, show us your cards and they mention we need to get out of south korea, weaken our diplomats stand up and want to see a list of 30 seconds of my time. >> the director of national intelligence has been testifying on capitol hill. ononf the other things that came in that testimony is russia. the trump administration has been criticizefor not being
meddling. here is whatatai >> the trump administration will -- secretary mnuchin announcing those within a week. connell: within a week. what you make of that with reports there's been something like $120 million allocated to the state department and none of it was then. are we doing enough on russian meddling? >> i hope the trump administration is making sure that our elections are protected, especially after what happened in the last election. i do find the scully matured so many trump critics pounding the table on this with the obama administration knew the russians were interfering in the election while it's happening and didn't do anything about it. it should be said the trump administration on this particular issue drives people crazy with the president hasn't been more outspoken. as far as russia across the
board come and this administration is being tough. we shot and killed over 100 russian mercenaries in the area. the trump administration is far tougher than the administration wants. i'm pleased to see we are going to address the election meddling in some specific way. to focus on that, too narrowly, is missing that. >> i think we should absolutely distrust russia. what i'm saying is the tit-for-tat is not just that. the way the russians operate as they exploit american weaknesses in the russians ate our lunch during this russia reset policy during the obama administration in a variety of ways. in syria, ukraine, threatening our nato allies in the baltics commingled to write in the black sea. all of these things happen under the obama administration's
watch. i believe the trump administration to its credit is doing. connell: thinks camara back. always good to see you. while we are speaking, let's bring up the dial. an up-and-down day on wall street. now we are back to the up instead of a down parent up by 46 points on the dow jones industrial average after being down a significant amount earlier. we will see what investors are making on what's to come among other things were at all may be going after this quick break. we will be right back. portfolio and add potential income. portfolio bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp
connell: assembly can as we talked earlier about kellyanne conway special counsels office coming and with what is called the hatch act talking about politics in her official position of the white house. we have a response now from the white house. kellyanne conway did not have it for against the election for any
candidate. she simply express the president obvious position that he had people in the house and senate to support his agenda. in fact common statements actually show her tension and desire to comply as she traced declined to respond to encourage alabamans to vote for the republicans. this is all about the growing more election at the time and how she advocated for his candidacy with her official position in the white house as john decker had told us last hour and a punishment they came to that would be up to the president. former trump aide sam nunberg was all talk yesterday and now we are hearing in charlie gasparino told us about this last hour that he indeed will cooperate in the mall or investigation. let's bring in the judge. andrew napolitano here in the studio at this. good to see you, judge. >> hello. connell: there was something yesterday with sam nunberg he did a number of interviews, but
he was threatening to not cooperate with a subpoena for the special counsels office. charlie said he is going to go along with a friday. >> part of this is because charlie looked directly at the camera they said senior doctors and see her lawyers. connell: he's going to do that as well for those who have missed is that he's going to comment in charlie's reporting, seek treatment after dealing with special counsel. or with the grand jury. >> i can tell you for my prior life on the bench come u.s. police to arrest you, they usually show up. this is not something you say to the fbi. they don't like to be taunted like that. connell: nobody knew what to make of it. that's what people started to think she may not be a sound guy. >> that may read between the lines. one of the things that he revealed was this lawsuit in which donald trump sued them for $10 million because he said some things trump up were violative to his employment contract.
>> in 2011 tonight 2014, trump fired him. sam's counterclaim was donald trump has been using funds from the trump organization to pay for his political candidates. within two weeks the lawsuit was dropped. that, i think is what he talked to the fbi about. whenever he talked to the fbi about for five and half hours, mueller's prosecutors together they summarize to the grand jury. the grand jury issued the subpoena. they want him to recount this to the grand jury. >> let me be clear so we know what's out we know what's out there and at this point speculation albeit informed speculation for your career. but we know from the subpoena, correct me if i'm wrong or things like they wanted his e-mail correspondence with a number of people all up to donald trump. there were 10 people on the list. you are going a step further saying you think he was asked about this. i want to be clear, we don't
know. >> we don't know, but we do know that sam nunberg told friends and media folks from the questions that they put to me, may have something bad, close quote on the president. >> would have to see a transcript. whatever he told the fbi in mueller's prosecutors, and they want him to tell it to a grand jury. second thing that came up from yesterday and i don't know if it's true, but if it is, is profound. nunberg claims he offered him immunity. community is the highest and best gift a prosecutor can give to a witness. connell: if you see that come your point if he would have something to offer. >> in some exposure himself otherwise he wouldn't need the immunity. community prevent the government from prosecuting you for anything that do the time of the immunity unless you lie to the government and the immunity deal is vacated.
connell: the larger question i've been thinking about the last couple days in the editor-in-chief of the publication, ask the osama show yesterday and he made this point. for all the leaks we have and all the things we cover, especially in washington, he was saying and others would agree that there have not been leaks directly from mueller's office. the point was we really don't know what the special counsel is after here, what he's doing, what he has. all of the leaks are from people like nunberg. >> under the law, the witness before a grand jury or interrogators is allowed to repeat publicly what he received. >> the witness in this case, he may have something on the president. he doesn't necessarily the context for where the questions are being asked. connell: why this drunken six-hour tirade yesterday. was he trying to impeach himself, and there is less credibility? if they put -- to the grand
jurors watched watch television, and sure they saw this. they put me for the grand jury to have to spend half an hour, 45 minutes rehabilitating him. we don't know what mueller has though we knew it is looking at. looking at pre-presidential candidacy, money laundering and misuse of corporate funds. connell: and you know that because of the questions being asked? >> yes. he's looking on obstruction of justice, firing jim coleman for self-serving law enforcement purpose and is looking i did the campaign received anything of value, quotes from the statute from anything of value from a foreign national or foreign country. those are the three areas he remains lucky not. i'm sorry to say this. i want donald trump to succeed as a president. i believe mueller is ramping this up as we speak, meaning you will see more interrogations and more indictments. sam is now on his side, gates is
now on his side. these people are spilling beans and areas i don't think mueller knew about before you brought these people around. connell: judge coming thank you. we always appreciate the days. in just a moment, president trump, we'll talk about this in a moment. later this afternoon he will be meeting with the prime minister of sweden at the white house. one of the reasons, many reasons that might be important with terraced and overseas leader coming in and what they might make about terraced or that'll be interesting but they also take questions at these joint press conferences so they can be asked about what we were talking about, tariffs and any number of different things. that's coming up this afternoon. we'll be back to talk about it with the dow up 59. we'll be back in a second. well, with your finances that is. we had nothing to do with that tie. voya. helping you to and through retirement.
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companies involved in crypto currency trading. a story hillary vaughn has been covering. she joins us now from d.c. hey, hillary. reporter: k., connell. they are cracking down on initial offerings because some companies are exploiting these ipos to skirt regulation and he thinks some of these ipos are duping investors. >> i worry in particular about people who see things that look like a new york stock exchange or nasdaq listing for ico's are crypto currencies and think i'm getting the same protection for my coke and then i would be getting for a share of stock. they are not. >> they are more popular than ever. the messaging nap telegram has heard to crush the record for the biggest campaign of all time. the company has raised $850 million in the past two months. out of what is expect it to be a
$2 billion ipo. it is a quick way for businesses to cover their bills without making much of a business case. >> we are focused on this space. we think it is space for main street investors are at risk and it's important to allocate resources. we have a division that looks whether there is violations in the law. a division of corporation finance standing ready to work with companies that want to do this right. reporter: clayton tells me his message to companies are watching. some companies have actually proactively reached out to the sec filing this. >> interesting. good job, hillary, first interview on tv. hillary vaughn in washington are both good and nicole petallides in new york as the new york
stock exchanges. we've been watching us go up and down in the dow was up 34. trying to figure what the deal is a trait among other things. what's going on? >> right at the top of the day you move up 120 points out of the gate. a lot of pushback on the talk of terry is talk of tariffs and that eased investor concerns. also a lot of talk about north korea indeed nuclear station and that was big talk as well as wall street. then we had weighed on the dow, bowling, united health, specific stories there. back in the green again. coming off that a little bit right now. dupont, caterpillar, goldman sachs doing very well in the sectors are in the green. with enough air we do have some of the tech names doing well. amazon and netflix which i've been doing so well again this year in 2018 with all-time new
highs, 1542. netflix 325 and change still holding onto the green arrows. last but not least the ten-year treasury of for two conservative days. inherent to .89%. we watch for that. still wondering the details on any terrorists in negotiations to go along with it. they think it's a negotiating tactic so they're not as worried. >> things come in a call. see finish it up. two big issues in the market today. obviously trade, north korea. get some clarity this afternoon. president trump has been meeting with the leader of sweden and they'll have one of those joint news conferences at the white house after their set down. the president should take some questions and you'd assume you'd be asked about the terrace, maybe north korea, maybe other things.
chat to share with us in the studio. what is the thing for the president today? usually two questions per side. in the white house, what would you want to drill into given what we've seen so far last week or so? enacted simply cannot ask a question about sweden. i have a lot of questions on the subject of tariffs. u.s. steel is already expected to post its biggest profit in nearly 10 years. why such brash action to protect with clarity doing well. and $80 billion company. caterpillars and $88 billion company. why are we trying to protect economic pipsqueaks at risk to our economic giants? >> some of this ideological. the president has been talking for 30 plus years about these types of policies. it would be a stretch and it's factual to say this president and his spoken word is a protectionist. this is what he believes.
>> i really wonder if the president had actually done the math on this. >> he sees the math different as a zero-sum game that he sees trade if we have a deficit is a loss. do you think it's possible he floated this idea now he's looking at the reaction on his favorite venues. maybe "the wall street journal" op-ed and he sang in here send people saying this is a terrible idea. and from his comments on twitter , thank you starting to back track. maybe we'll get a big deal and nafta. next thing you know there's a motion on nafta. maybe one had to put them to begin with. it feels like everything is in flux. >> a lot of people on wall street think of that. nicole brought this up that a lot of people are buying into the narrative that he doesn't mean that. you might be right, but the only note of caution to make the point that this is not an issue
he's kind of flip-flopped on over the years. this is something he's been quite consistent on. this is what he really believes. >> 25% tariff on steel would but it wouldn't do too much damage that an all-out trade war would be bad for everyone involved. let's hope we find another path. >> we talk about how policies impact bat. this particular policy has been said about the big multinational companies. who else can impact of this goes through? >> will tell you who gets killed. heavy machinery, but the little guys. borderline, so caterpillar will absorb those. caterpillars prospering right now. that's how i've -- >> wisconsin? paul ryan is from wisconsin. they need more infrastructure and infrastructure is not happening at the moment.
this is the company that had a property of just $9 million last year. i'm sure it may have sold off earlier. >> believe me for looks less likely it's good for them. if you have a 25% tariff, and that could take away a quarter announced by jpmorgan. a quarter projected earnings for next year. this is a company trying to make a go of it. >> .iran. that's interesting. to read today as this is less likely. we'll come back. we also have a story to send the anti-trump tax. not being called out for what he did not do during the clinton cleaning investigations. added more straightahead back on cavuto coast to coast.
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>> sources have told fox news that peter strzok was told a possible breach into hillary clinton's private e-mail server, but did not follow up on that. florida republican congressman maggie on issues that the fbi. what should have been detained as a result of this? >> one of two things will happen. either jeff sessions will point a special second counsel to
investigate and bring charges against people who violated the law or no one is going to jail. we have a confluence of events. we have investigations underway in houston then it in all of them seem to point to the fact hillary clinton is paving the way for her to keep her out of trouble and some of the very same people who you mentioned were involved in manifesting bias against president trump. to have real accountability to restore the rule of law, we need the attorney general to do his job and appoint a second special counsel because in congress we could pick up the facts but we can't put handcuffs on anybody. that's the attorney general's job. connell: the inspector general, a guy named michael horowitz went through his process and came out with a report. i guess the sessions cited this will say let's wait for that. he's the guy who tipped us off on the stuff to begin with. if horwitz comes out with the
reporting you go reporting you go into what is ever necessary to risk prosecution, doj, special counsel. why not wait? >> we know would have been. a political party to spy on citizens at the same time, hillary clinton never facing true jeopardy. we know as a consequence of the word devin nunes and bob goodlatte have done, that hillary clinton have the way it for her and that would be a violation of the rule of law. we have to appoint a special counsel and aggregate the fax from these investigations. once we get his report it will be an even louder drumbeat to bring accountability. >> what will happen the sessions. the story quieted down with everything else we've been dealing with, the president at the beginning of last week, is he along for this job or what? >> the president wants his
current attorney general to step up and be the attorney general. i would understand that the president were frustrated by his refusal on the russia matter because it's put some of the folks at issue in those facts in charge of the direction of the investigation and that creates a conflict of interest. we would hope the attorney general would step forward and done his job, but he can still save his job if you appoint a special counsel because we'll get the accountability we need. connell: i know this is a sad day, not a house issue where you are, beginning in 12 at this point in the replacement would be a tough one, wouldn't it? >> i wouldn't count on the united states senate to pass a mother's day resolution these days. they seem to have somewhat difficulty getting to these votes. that would be a substantial challenge. the united states of america we have to have an attorney general responsive to the facts. we have a number of facts that indicate hillary clinton benefited from bias. donald trump suffered as a consequence and all the activity
that we've seen. we need to restore the equity in rule of law and only holding people accountable will set the right precedent moving forward. connell: we'll get back to you. thanks for coming on again. let's get back to tears for a moment a few moments ago up and down. the tariff issue, maybe some clarity on that this afternoon. also, north korea, he may be asked about the joint news conference was most likely a lot of questions on those issues. maybe others. we will be back in just a moment. nah. not gonna happen.
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connell: a little bit of breaking history of the weather is bad tomorrow. new jersey declared a state of emergency. they cleared some stuff up and what have you. charlie gasparino is back in the reason he is, the president has joined a news conference from the white house. one of the reports that was out there today is that the president's top economic adviser has been pushing back on terrorists and meeting with companies that might get hurt. the speculation, charlie, then maybe bloomberg has a story about this but if the stories go through bloomberg is out. charlie: they say he's going to let it go through and he honestly doesn't care that much. he's going to leave, he's going to leave. "politico" had that if the tariffs go through is definitely out. >> i still have to make some
changes talking about his staff. charlie: i'm hearing kind of the opposite in the sense. that doesn't mean he won't leave worries whatever if truncate them. he kind of feels like he's one of these voices of reason and is helping prevent the trump white house, at least from an economic standpoint going into the abyss of pure protectionism and pure insanity. connell: the protectionism, can he make progress in preventing not? some people today are betting that. the market is make in that -- that that. >> is gary tran loven last tomorrow the markets would have an issue. a guy like him for major investors look at a guy that worked at goldman sachs in a really good record on wall street. i say all sorts of stuff about
him. he's got kind of a lousy demeanor. he's a really rough guide. connell: by the way, pot 10 kettles and demeanor. we don't have enough time. charlie: thank you for bringing me down. in any event, that said come he's a formidable guy and that would be an issue if you left, if his voice wasn't there. at least for the markets. is that the only overriding issue? corporate profits and stuff like that. having a coherent economic policy in the white house is important. i hear, just so you know, he's not running out the door by any stretch of the imagination. >> we have reports per week in charlottesville. charlie: let's be clear. gary cohn is an extremely ambitious guy. he wanted to an goldman sachs. that's not going to happen. shaping fiscal policy at high
level, right? he could leave the job, start a hedge fund. doesn't need the money, take it from me. connell: we know. >> why would you leave that job unless trump foes totally, totally bonkers on trade and does another charlottesville speech. connell: not on charlottesville -- >> if he does crazy, crazy stuff you might see him leave but right now, there is no reason. connell: if his argument is falling on deaf ears. not making progress with the argument. gary cohn sits there -- connell: sees it as win. >> i talked him off the ledge. reagan did tariffs. it is not the end of the world. what the markets are worried about our few tariffs. they're worried about -- connell: what's next. >> trade war, do we renegotiate nafta. connell: one of reasons he might stay or one of the arguments, for him staying, peter navarro,
obviously, rival in the white house they have to deal with directly with china. there are whisper numbers and they may be aggressive on that. >> that is where they should be aggressive. china does steal our intellectual property. connell: that is targeted at them. >> that is different than steel and aluminum imports, tariffs which hurt our workers more than helps our workers. it saves a sliver of the economy and hurt as bigger part of the economy. my producer did on this to bring executives to show impact. connell: got to run. got to wrap it up, charlie, when you hop on the plane, you get to the white house to ask swedish prime minister a question. that is coming up. >> i can't wait. connell: connell mcshane
filling in for neil on "coast to coast," here is trish. trish: holding a bilateral meeting with the prime minister of swede epany minute from now. this is the president trump's first meeting with european leader since the major tariff announcement. we'll see how this bows. i'm trish regan. welcome, everyone to "the intelligence report." we're keeping apeye on the markets which are doing okay. hugging the flat line. investor are searching for clarity. what the president is going to do on quote up quote bad trade deal
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