tv Lou Dobbs Tonight FOX Business August 24, 2019 1:00am-2:00am EDT
will it be enough? is it too little, too late? we don't know yet but when you lost trust, it's hard to rebuild. that's it. david: good evening i'm david asman sitting in for the vacationing lou dobbs. for years american presidents have sat idly allowing the communist chinese government to steal american intellectual property and rip off the american people to the tune of trillions of dollars. well, today president donald trump said enough is enough. the president raising tariffs 5% on 550 billion dollars of chinese products, retaliating hours after china placed tariffs on 75 billion dollars of american products. now, the president today also demanding american companies start looking for alternatives to china, including the idea of bringing their companies back to
the united states. and federal reserve chairman jerome powell also drawing the ire of the president today, failing to respond to china's retaliatory tariffs, leaving the president to wonder if powell or chinese president xi jinping were the big earnmy -- bigger enemy. for the latest, we turn to edward lawrence. >> federal reserve chairman powell says the fed will act as appropriate to sustain economic expansion. having said that, trade uncertainty has come to the forefront here at jackson hole. a good part of the speech today focused how there's no precedent to integrate trade uncertainty into monetary policy. the speech laid the groundwork for a rate cut in september, pointing to global shocks, like what's happening in hong kong, germany, china, the economy slowing down and brexit. the speech did not indicate a long series of rate cuts and that set off the president on twitter. it started with the president saying we have a strong dollar and a weak fed. he ended up asking who is the
bigger enemy? j powell or chairman xi? now the president doubling down on china via twitter saying he will raise 25% tariffs to 30% on 250 billion dollars worth of imports of china on october 1st. then the tariffs starting september 1st would go to 15% from 10%. every fed president i talked with said the tweets don't make a difference in their decisions. they enjoy a level of independence from the president. now, i was told on many occasions, the federal reserve is looking long-term and will not react to daily pressures. but the feeling at this year's symposium has been a little bit more serious. the federal reserve is now front and center in the middle of the trade debate and the president put them there. david? david: edward lawrence, thank you very much. joining me now, peter navarro assistant to the president director of trade and industrial policy, the director of the white house national trade council. great to see you. thank you very much for being here. >> good evening, david. david: it is no news to us. for years the president has been saying what he's going to do,
how he's going to get china to behave. today a lot of people thought was a wake-up call, but we have known for literally years that this is more than a trade deal. this is about changing the way the chinese do business with america; right? >> yeah, i want to have the president's words come to people. i want to read this tweet. 15 seconds. for many years, china and many other countries has been taking advantage of the united states on trade, intellectual property, theft and much more. our country has been losing hundreds of billions of dollars a year to china, with no end in sight. sadly, past administrations have allowed china to get so far ahead that fair and balanced trade has become a great burden to american taxpayers. as president, i can no longer allow this to happen, and here's the thing, david. this was not a political decision today. this is something transcendent,
it is about god, country and the american working class in this country, been attacked by chinese aggressive policies in the last 20 years. the president sent a very clear signal to china today. he also sent a very clear signal to corporate america which has been offshoring our jobs to places like china that what's important now here is having a strong america, having a fair and balanced playing field, and this is what this decision was about today. david: what surprised me -- i mean, i expected a downward move by the markets. i did not expect a 600 plus point loss today because of the president doing what he said he was going to do time and time again. were you surprised at the downward move of the markets? >> not at all. let me give you some comfort on that. there was two things going on. first of all, as you know, when the market starts moving down now these days, you've got day traders and you have got program traders that take up little volatility. they play on fears in the marketplace. and some people went home happy
today, short sellers and day traders. and unfortunately, some people got shook out of the market. this was not a market-moving event of that magnitude. as you know, we've had tariffs on for over a year. the stock market has gone up fairly steadily, and we've had close to 3% growth, and this economy is solid. so i think the bigger thing that was in play here, and this is why the president tweeted about j powell, the fed once again let us down today in jackson hole. they simply don't understand that the trump economy, with its deregulation and its tax cuts, its cheap energy here, can grow easily, easily at 3% without triggering inflation. this whole nonsense about how trade tensions are holding things back. it's not that at all. you look in the data, and it's very clear, higher interest rates by j powell mean a
currency, a dollar that's gone up by over 10%, and you see right in the q2 data, we lost 2/3 of a point of growth simply because of reduced exports. so the fed is killing us, just killing us with their misplaced policy, but here's some good news, some bullish news, the european central bank has announced that they are going to engage in a fairly strong cycle of monetary easing. why does that matter? a strong europe will mean strong demand for our exports. here's something even better. this is more subtle david. when the ecb does that kind of cut, and the chess match of central bank, it is going to put further pressure on the fed to lower rates because you can't have these big spreads between our rates and the euro bond -- david: by the way, peter china is also going to put more pressure on the fed, and in fact, that's one thing that mr. powell said today, in his
notes. >> indeed. david: if there are more trade tensions, and clearly there are, that will put more pressure on the fed to lower rates. the president tweeted out something about the president of china, comparing him to j powell. he said that essentially he asked the question, who is our bigger enemy? chairman powell or chairman xi? and what do you think? i mean, what would be your answer to that? >> well, i would say that we've got an apples and oranges thing here, but what i can say is this -- david: let me ask, though, do you really think that chairman powell is an enemy? >> he's certainly destroying what is a healthy growth rate in this country, with his interest rate policies and the seeming pride that will not allow him to acknowledge what was a severe mistake and instead what he does is he blames things on trade tensions when in fact everybody knows that if rates go up, and our currency goes up, our
exports got to go down and our growth has to go down. so here's the thing -- david: quickly, because i do want to get one question, but go ahead. >> sure. well i'm just saying that in terms of what the fed will do, i think you're right, that what china did today and what the ecb is doing is going to put more pressure on the fed to do the right thing. they need to do the right thing. if they do the right thing and congress does the right thing, passing u.s. mexico canada agreement, if germany engages in a fiscal stimulus and we get brexit straight and get a great deal with the u.k. -- with the u.k. -- >> the president is going to that g-7 meeting and be able to make his case in person to a lot of these european leaders. let me ask, though, because one of things that did shock businesses, gave them pause, anybody who does business in china, were the words of the president, american companies and i'm quoting here are hereby ordered to immediately start looking for an alternative to china including bringing your companies home and making your
products in the usa. how would those orders be carried out? >> let those executives take that statement for what it is and interpret it as they will. what i can tell you is this, what we're seeing over the course of the last year and a half is that the supply chain is moving swiftly out of china, that's one of the ways that they are enduring the pain from the tariffs. the other way is devaluing their currency and cutting their prices. david: right. >> this is going to be good -- david: peter, i have to press you on this specific meaning of the word order which is a clear word. i mean, there's no ambiguity about that word, and there is a law on the books, the emergency exhibit powers act of -- energy economic powers act of 1977, i will quote from it, it authorizes the president to quote declare an unusual and extraordinary threat to national security or the economy. it further authorizes the president, after that declaration to block transactions and freeze assets to deal with the threat. many people are saying he does
have the authority, the legal authority to do that. would he exercise that authority? >> i will simply repeat what i said. let these business executives interpret what the words means to them, with the idea that clearly if you see the chess board correctly, there's increased geopolitical risk of locating your production in china. i think what we're seeing is a very healthy relocation. some of it's coming home, which is great for pe-- great for america. some of its going to vietnam, which is also great for america and those folks are likely to buy our stuff. david: peter -- >> i'm bullish based on all these other things but the president transcended decision above politics courage and that's what donald j. trump is about. david: we have to leave it at that. quick last question -- >> another one. david: are you going to europe? >> no, that plane leaves momentarily and generally i don't go to the g-7, unless
china is involved. i went to buenos aires, osaka and beijing. i'm let kudlow carry the flag with lighthizer and they will do a great job. the president is going to bring home some news. i promise you on that. it will be good news. david: let's hope it is. peter, thank you very much for being here. appreciate it. >> all right, david. david: today's trade tensions sending the markets lower. the dow closing down 623 points. the s&p falling 76. nasdaq dropping 240. stocks today losing 825 billion dollars in market cap, according to the wilshire 5,000. coming up next, we will have more on the president's trade decisions today as well as his comments about the left pushing for a recession. plus, the major bust of cyber criminals stealing millions of dollars through false on-line interactions. we will have all of that and a lot more, right after a break. doctor bob, what should i take for back pain? before you take anything,
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plus get $250 back when you buy a new samsung note. click, call or visit a store today. david: president trump right now preparing to head off to france and the g-7 summit tonight, amid an escalating trade dispute with china. earlier today, the president claimed the left wing national media and the dems are desperately cheering for a recession in an effort to hurt his reelection chances. he vowed he would win again in
2020 and called the economy strong and good. joining me now, former trump campaign senior trade and jobs advisor curtis ellis is with us, and francis newton stacy director of portfolio strategy at optimal capital solutions. good to see you both. thanks for being here. francis today's market spasm. let's start there. does it continue on monday? >> that's a great question. it depends largely on news. i noticed he waited till after the market closed to announce his additional retaliatory tariffs, but the problem is is that the market is desperately trying to price this in. the good news today is that the vix did not make a new high, that's the volatility index and the market did not take out the recent lows from the last two weeks. so that's good news. if the market holds there, if they think they have this recent development priced in. if not, this is a heavily news driven event, so it is going to increase the volatility, and as a market person, i feel like the child in a divorce. the innocent child in a divorce.
yeah. david: let me ask because today of course the market moved on china news. but the president is going to europe, and we have issues with europe as well. they want to put new taxes on, new regulations. there's apparently this manifesto that's circulating among european members that will be meeting with the president about some kind of tariffs they may be putting on -- what happens if we get bad news like that over the weekend to markets here on monday? >> tariffs from europe is going to be new additional bad news. and i do see the market selling off quite substantially, but if it's -- whether or not we take out the may low first of all and below the may low, we have the december low. traders and market people and investors will be watching this. i can tell you, investors are getting ever more defensive. we know they are screaming into the bond market because those yields keep dropping and that curve was inverted, you know, more today than it ever has been before. david: take money out of stocks they put it into bonds.
that's why that's going that way. curtis, president trump in talking about the chinese -- the new chinese tariffs mentioned that they were politically motivated. explain. >> well, we've seen that the chinese had been putting tariffs on american farm goods, and in addition to putting the tariffs on the farm goods, they then take out advertising supplements in the des moines register, explaining how this trade war is hurting farmers. they are using tariffs as economic sanctions to influence our election. david: they are trying to prevent reelection of donald trump. >> exactly. while the democrats are all upset about russia interfering in our election, they are absolutely silent about china's blatant interference in our electoral process. they are targeting political constituencies and using tariffs to do it. and, you know, it is interesting that while mnuchin and bob lighthizer were in china, a couple of weeks ago, trying to negotiate an end to china's
economic aggression, you saw kamala harris and the democrats on stage saying we will get rid of these tariffs. we will get rid of the trump tariffs against china -- david: the democrats are upset because then you have schumer saying the president is doing the right thing with the tariffs. >> that's right. david: they have got to straighten that out. i want to know about our relationship -- particularly donald trump's relationship with president xi, which had been kind of cordial in the past. is that cordiality going to be gone now? >> well, it sure looks like president xi's got a little more problem than he ever had before. the president has been as a good negotiator, said this is not a personal thing. this is business. i have a great personal relationship with you, but i want to buy your company -- david: he's calling the president the enemy. it is a different way of approaching the negotiations. >> this is a wake-up call as peter navarro was saying, this is not simply about trade.
this is a national security issue now. david: can markets go up if the trade tensions continue through the election? >> well, at certain point, markets will try to price this in, and they are also going to try to price in the 75 basis point cuts that we expect from the fed. that's what the fed futures are telling us for the january contract. david: 75 -- that's pretty close to what the president wants, which is a full percentage point. >> yeah, so they are going to be paying a lot of attention to these two news items. interestingly today the market didn't move on powell because it is not a policy meeting. they are in jackson hole having their conference, whatever, but i just think that i don't know is the answer to your question. it is going to be really interesting to see if they become numb to it. but the thing is that people are getting hurt in the interim, and the farmers are getting hurt and people's stock accounts are getting hurt, and everyone has a threshold where it's too much. david: we all want it to work but we want it to work the right way. final comment? we have 30 seconds. >> i think the market is going to realize that this is a
long-term proposition. it might be a little pain right now, not maybe, there is a little pain for some people. let's put it in perspective talking about a few hundred billion dollars worth of goods in a multitrillion dollars economy. i was talking to farmers over the weekend. they want to see a right deal, a good deal with china. they want china to play by the rules. they're willing to play the long game on this. david: all right. but a deal would be -- a good deal would be a good thing; right? >> it may take a while to get there. >> francis, curtis, great to see you both. thank you very much. have a good weekend. u.s. authorities charging 80 people with conspiracy to steal millions from victims like the elderly. officials say suspects use business or romance scams to lure them in. david lee miller with the details. >> david, federal authorities have charged 80 people in a massive internet scam to defraud victims out of millions of dollars. on thursday, 14 people were arrested by the fbi. 11 of whom live in the los
angeles area. most of the other alleged scammers are believed to live in nigeria. 32 confirmed victims lost a combined 6 million dollars. but losses might have been much worse. authorities say the crooks attempted to steal 40 million. officials say the scammers used a variety of schemes. some targeted people on dating sites and asked for money. others used fake e-mail accounts that look like legitimate businesses and trick people into wiring funds. the u.s. attorney in l.a. says many of the victims were chosen because they were considered easy prey. >> some of the victims in this case lost hundreds of thousands of dollars in this way. and some of the victims of the romance scams and other on line frauds were targeted, specifically because they were elderly or otherwise vulnerable. >> according to authorities, so-called money mules were used to open bank accounts to try and trick victims. the perpetrators also allegedly filed fake businesses with the
l.a. county registrar, using names to mirror legitimate companies. authorities say the two lead defendants in the case, both j nigerian citizens oversaw the money laundering and got a cut into the profits. three of those arrested face additional charges for trying to destroy their phones when the fbi executed a search warrant. one defendant broke his phone in half while the others threw theirs out the window. david? david: extraordinary, david lee miller thank you. we will have much more on this later in the program with cybersecurity expert morgan wright. and coming up, attorney general william barr, the justice department making changes at u.s. immigration courts. we will have more on that, right after the break.
illegal immigrant families detained beyond a 20 day limit. he says longer detentions will deter illegal immigrants from making the trip to the southern u.s. border. >> this is a deterrent because they know that instead of rushing the border, which is what's been going on for a number of years now, by using the massive numbers coming to the border and overwhelming our facilities and our capacity to hold folks and our court rulings, which is what the flores rule is, that now they can and will to the extent we're able to do so hold them until those hearings happen. they won't simply be released into the interior for us to never see them again. david: and attorney general william barr today proposing major changes to the nation's immigration court system, under the changes, the director of the executive office of immigration review would have the power to decide against the nation's longest-running illegal immigration cases, and get this, the current backlog is over a million cases. joining me now, national border
patrol council vice president. art, great to see you again. have we finally found a way around some of these asylum rules that have been such a lure for illegal immigration? >> well, i mean, this certainly is something huge that is going to help, and i will add, not only is it something that helps stop these asylum claims, but people are complaining about detaining these individuals longer, but what it is going to do, it is going to give immigration officers the time to talk to these people and determine who is an actual guardian of these minors and who is not. david: great point. >> you have got to remember, the criminal organization is bringing these kids knowing hey within 20 days, we will be released, so what's happening is they are using these minors as pawns for their criminal game. we don't know if some of these kids are actually related to these individuals. this gives immigration the extra
time so we can figure out if these are legitimate not only legitimate asylum claims, but we need to see if they are legitimately family members, and that is important. i don't understand how anybody would against it. to be against something like this means you really don't care about these children. david: it is extraordinary that the left has kidnapped the whole idea of compassion. they say, you know, they're the only ones with the compassion, yet, i think it is very uncompassionate -- it is the opposite of compassion to allow children to be put in the hand of smugglers, smugglers who are not related to them. >> definitely, it has created a magnet to allow these individuals, one, to break our laws, two, to make false claims to asylum and definitely it's put kids at risk. thank god that we have individuals that are thinking outside the box, that are going forward with this and realistically they are not going to get the credit they deserve, but not only are they stopping false asylum, they are saving a
lot of kids' lives and that's important. david: let's talk about how the attorney general is getting involved in this. we have a terrific attorney general right now who is operating on so many fronts, but one of those fronts is immigration. he wants to appoint tougher immigration judges. apparently there have been judges that have been perfectly okay with a million cases backlogged in the immigration system, but there are other judges who are much tougher, want to see that cleared out. will that help? >> i mean, i don't see it as them appointing tougher judges. i see it as they are appointing judges that will be efficient and get the job done, and that's something that definitely needs to be done. the amount of backlogged cases is just ridiculous. and i think the criminal organizations have exploited that, and they've used that to their advantage, knowing fully well that these individuals will be just caught and leased in the country -- released in the country. david: of course they have. back home and what innocent u.s. citizens are going through as a
result of some of this crisis, not only those on the border, but once the illegals spread out and do not actually go back to the corridors they are supposed to and settle elsewhere. a lot of them are criminals. new data from the doj on federal arrest over illegals, over a 20 year period, i was unaware that 64% of all federal arrests were of non-u.s. citizens. 64% were non-u.s. citizens. >> and what's ridiculous is you hear individuals that they want to make up for that, and they say well, we have criminals in the united states. i know we have criminals here. but it doesn't mean we need to start importing anymore. we're not against immigration. everyone needs to be clear about that. we're very pro-immigration. but we're pro-legal immigration. there's a right way to do things, and there's a wrong way to do things. david: you don't want criminals coming in, and you want people coming in who are going to be working hard and who we need.
that's another reason why we've got to get to a merit-based system, a system where we're able to decide who comes in and we do have jobs available for people with particular skills, try to match those people with those job needs that we have. >> the simplest way i have explained it to people, it doesn't matter whether you are on the right side of the aisle, or the left side of the aisle, when you are at home, you want individuals to knock on your door, and you want to make the decision on who you allow in your home, and who you don't, you want individuals breaking through your windows or coming in unannounced. that's what it comes down to. we should have it at our nation's borders. david: that's a good analysis. the cbp wasn't apparently collecting dna samples for a long period of time. that was a problem when you're trying to figure out who is who, who is related to whom, whether a person has a background or just getting the dna samples so
you can track that person if they do get involved in criminal activity. is that changing now? >> that should be changing, and honestly, a lot of these changes that are happening, you know, i sound like i'm cheerleading, but the honest to goodness truth is, we have a president that's caring about the immigration system. we have a president that's caring about american citizens and moving forward, i hope it continues, but we're very grateful right now. we're in a position right now where we can't take a step back, and as i have said many times before, illegal is not a race. stop making it about race. david: absolutely. >> we all need to start behaving like americans. david: absolutely. we're going to be talking about that later in the program, but to put this in a racial context is absurd. it is about legality and illegality, it is that simple. great to see you, sir. thank you for your service. appreciate it. thanks a lot. >> thank you for having me. david: share your comments.
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texas were subjected to ransomware attacks raising concerns about the vulnerability of small towns all over the nation, brookings institute fellow warning, quote, government agencies usually have less resources to invest in information security technologies, fragmented computer systems exacerbate this problem. all levels of government should invest in upgrading security technologies or else many more agencies will soon become victims of ransom ware attacks. huawei announcing today its first artificial intelligence chip, the ascend 910 is now available in its own products. the chinese company claims it can process more data in a faster amount of time than industry leaders like nvidia and alphabet. how much ip theft went into the development of this new chip? that question is unanswerable. joining me now is cybersecurity expert morgan wright. a former senior advisor in the
state department's antiterrorism assistance program and always a pleasure to talk to you, morgan. thank you for being here. a lot of people are worried that huawei is going to win the chip war against u.s. companies. what do you think? >> china has a stated strategy that by 2025, they are pouring 56 billion dollars into the development of artificial intelligence. it goes back to what a colleague or friend of theirs said, vladimir putin said whoever wins the ai battle wins the world, owns the world. huawei has invested in this. it is not just huawei. it is also the chinese government. you don't -- there's not one without the other. and there's the complicity of all these american companies, google, microsoft, name them, that are working with them on, guess what, artificial intelligence and then we wonder why there are problems with us doing business with china. to your point, stealing all of our intellectual property. i will tell you, there is american intellectual property inside those chips because that's what china does.
david: exactly. this particular chip, the ascend 910 is that focused on artificial intelligence >> it is an ai chip. it's going to help process things especially when you think about machine learning and artificial intelligence and be able to do things and nvidia right now is the market leader in that space. they have the fastest chips out there. they have their sights on them their sights in a sense too on google and like you said alphabet. there's a lot of people out there producing these things because this is the next generation. this is where the computing will be going. if they can win that battle, they can win the battle of the small chips and get their ai platform on it and operating system, they are going to have a virtual monopoly going forward. david: leading into my intro to you, you probably heard there's a story about small towns and some serious system failures. then on august i guess it was the 16th of august, we had this major failure among the customs and border patrol causing tie-ups at airports all over the
country. a lot of people suspected some funny business, that somebody from the outside. that i don't think has been conclusively proved one way or the other. however, what was proved by this event was our systems are not in the best shape right now. right? >> we used to have a joke -- i did some work inside the department of justice and some other areas of the government it was called yesterday's technology tomorrow. we are still operating under that theory, that we are still putting money into systems that are so antiquated, we have not made the investment, we talk about upgrading our roads and our bridges. we have to invest and upgrade our technology infrastructure because the systems, the reason they are breaking is because they're not being serviced correctly. the patches aren't being done. the updating are done. they don't have business continuity, disaster recovery plans. this technology, it is -- it is like the opm breach, the office of personnel management data breach, that stuff was so old they couldn't encrypt the records to protect the chinese from stealing them. we have a long way to go. we are probably on grade wise a d on upgrading our
infrastructure. david: where is china because they of course as you mentioned have this intertwined existence with government and chip manufacturers and all of their intel companies working together. if you grade the u.s. a d, what grade would you give to the chinese on that? >> you know, i don't give them a much better grade. i will tell you why, even with the money they are spending, they are stealing a lot of the intellectual property. there's no freedom of the press there. when there are issues like cbp going down or issues like the ransom ware attacks you don't hear about it. why? because people in russia and china die and disappear when you report things that aren't favor to believe the government. david: that's right. google's algorithm i'm sure you this guy's testimony in congress, he's no trump fan. >> no. david: he's in fact a democrat. he made that clear, and yet he saw that there was so much funny business going on in google's search algorithms that from 2.6 to 10.4 million votes were affected in the last election, and he was projecting up to 15
million votes that could be affected in the next election. of course those 2.6 to 10.4 million went for hillary because of the way these algorithms were designed. he's a psychology guy. he says that's what happens when people see where the algorithms bring them in these google searchs. do you agree with him? >> absolutely. i will tell you, a friend of mine has a radio show, he says he's a former journalist. he says -- but he said the media and people like google have the most insidious power there is, and it is the power to ignore, and when you ignore things you can start shaping the narrative. it doesn't matter what's real. it matters what you think is real and what you perceive. what you have been told, what you've been fed, the way the news is shaped, the way the information is shaped, what you search for. i remember doing stories all the time where you would go in and look at yahoo! and bing and start to put in a search term and it would show up, but it would not show up in google. it was bury things on hillary or bury things on other things way down the stack.
there's many ma lags going on -- manipulation going on. i worry more about google than i do the russians in the 2020 election. david: wow, you saw that algorithm change. a couple of years ago, i find an example, you put in climate change and come up with all of the -- you have to go about 20 pages before you find any evidence that it's not what the liberals say it is. you know, that's a perfect way to check it out. very quickly because we have to run, but the indictment of these 80 defendants, the nigerian nationals who have been scamming particularly old people, the most vulnerable people. it's great news that we got these guys; right? >> hallelujah. they put a huge dent in these folks that are stealing from the elderly. women are the most affected on romance scams. it's tenth in terms of the number of scams but second in terms of the dollar loss. they have been abusing and using military photos and targeting members of our military. great job doj for taking these guys off the street. unfortunately, somebody will be there to take their place.
david: yeah, probably, but you got to knock them down when you see them. morgan, great to see you. appreciate it. a family at yellowstone national park got the shock of their lives when a stampede of bison charged towards their rental car. the herd causing major damage to the car, shattering windows, crushing the hood, but despite the screams, nobody was injured. the families say couldn't believe they didn't take the insuran insurance. poor folks. the left wing national media is complaining their accessibility to president trump. to president trump. diamond and as a doctor, i agree with cdc guidance. i recommend topical pain relievers first... like salonpas patch large. it's powerful, fda-approved to relieve moderate pain, yet non-addictive and gentle on the body. salonpas. it's good medicine. hisamitsu. experience the luxury desire of a full line utility vehicles. at the lexus golden opportunity sales event.
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david: the trump administration today challenging a federal appeals court ruling that barred president trump from blocking users on twitter. the administration hoping the case will be reheard by the second circuit court of appeals. no word yet on when the new round of litigation will begin. left wing national media finding yet another reason to complain about president trump, claiming the president's press gaggles on the south lawn are too loud. some reporters say marine one helicopter blaring in the background makes it difficult for them to hold the president accountable. now, president trump has spoken with the press 80 times in front
of marine one or on the tar mac near air force one. sometimes these things go on for 45 minutes to an hour. during president obama's eight years, he only had three such gaggles. joining me now is social media superstars loyal president trump supporters diamond and silk. they also host their own fox nation show called what else diamond and silk. great to see you, ladies. thank you for being here. >> thank you for having us. david: the first time in person. >> yes, amazing. david: let's talk about the press first. you know, this president has -- they may not like the format of these press conferences, but he's perfectly open. he fights with them. he gives them hell, but they gave him hell back. he takes it and he gives it. it is a good rapport. 80 times. now they are complaining. will they ever be happy? >> no, probably not. the president has been very transparent. >> yeah. >> he gives them great assets to them and he speaks to them and
they are still not satisfied. >> that's right. >> you have to understand when it comes to the press, anything to try to demonize or vilify or make our president look bad, that's what they want to do. they are never satisfied. if they don't like it, they need to get over it. >> that's right. david: the difference with this president and other republican presidents. other republican presidents have tried to assuage the president, like g. w. bush did, nice guy, but he tried to give them. it's like a spoiled brat you try to give them ice cream and they want sprinkles on top. you try to give them sprinkles on top, they want something else. they are never happy. >> this president is not politically correct. david: right. >> he's basically off the cuff. he's going to tell you the truth. he is a truth teller. that's something the press do not like. he can tell you it to you in a quiet room or right outside there by air force one, they are still not going to like it because it is the truth. it is something that the left wing media don't like. david: do you think he has broken through that pc barrier
that used to keep people constricted, particularly in a place like new york, you're from north carolina. >> uh-huh. david: you probably have it down there. has he really destroyed that whole pc veneer? >> i think he's destroyed it even though the left want to hold on to it. >> right. >> but i believe he's chiselled away at it. we don't have to be politically correct. we need to be correct when we're saying certain things and talking about the issues. let's be correct about that. all the pc, the political correctness, that goes out the window. >> that's right. david: particularly when it deals with issues of race. >> absolutely. david: he particularly has focused on that. he's been called a racist many times, for merely criticizing people who happen to be people of color. he's not criticizing them because -- racism used to be simple. racism was you hate somebody because of their race. now it seems to be it's because of their race and the way they think on particular issues. if you like president trump, you're racist, even if you're a person of color. >> but see that's where people are getting it twisted.
okay? because i've seen racism, and i've experienced racism. so when i see a lot of people call other people racist, i'm like you haven't really experienced racism. when i see bernie sanders, a white man, call the president another white man a racist. i'm like what did president trump do to you, bernie, for you to be calling him a racist? they have taken that word out of context and they are using that word to take and go on the feelings and the emotions of the black people because the democrat party has been playing the race card for so long. that's what they are doing. it is part of a tactic in order to play on the emotions of black people, to tie them to the pains of their ancestors because they feel if they can tie them to the pain of their ancestors, now we got you. that's why a large number of black people vote for democrats. >> remember, now, everything was r, it was russia, russia. it was racism, racism.
now it is recession, recession. we can use the word r, it is time to re-elect. that's our r. david: i think he's listening. even though he may be on air force one going to europe, i think he's listening. you may see a tweet about that. >> all right. david: diamond and silk, always a pleasure. safe travels back to north carolina. have a wonderful weekend >> thank you. david: thank you for being here. if you are here in new york city, catch the ladies tomorrow night on their chitchat tour. that looks like a lot of fun. >> yes. david: i may be there. coming up next, president trump continues to challenge china's unfair trade practices. we will have more on that, after the break.
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david: president trump announcing he's raising tariffs on china. >> this was not a political decision today. this is good god, country and american working class in this country which has been attacked by chinese economic aggression policies for the last 20 years. the president sent a clear signal to china today and he sent a clear signal to corporate america which has been offshoring our jobs to places like china. david: lou will be back monday. a reminder you can catch my show. it's called "bulls and bears"
every night at 5:00 p.m. eastern right here on fox business network. good night from [ gongs chiming ] >> it's a "strange inheritance" "gong show." >> and this is the set of gongs. >> the very set? [ gongs chiming ] >> a piece of history. >> you want to liken it to a stradivarius except there's only one set of true puccini gongs. >> a musical mystery. >> how the heck did they end up in a warehouse in queens? [ drumroll plays ] >> but drumroll, please. [ castanets clicking musically ] can she strike a deal to fund her husband's dying wish? >> are you hoping that someone will see them and say, "here's a check"? >> you better believe it. [ door creaks ] [ wind howls ] [ thunder rumbles ] [ bird caws ] ♪