. >> larry kudlow, thank you very much. [ applause ] >> thanks a lot. thanks for coming. so we'll take a break now, coffee and refreshments right outside. we'll be back here in 30 >> thank you so much for joining us today. you came here straight from buenos aries, argentina, at group of 20 summit and you presented the wto annual trade monitoring report to world leaders. this year the conclusions were rather grim. can you summarize for us what you saw in the report. >> the report shows that there was a very large increase, a dramatic increase on the amount of trade that has been covered by restrictive measures around the world. i would say a lot of that is attributed to the increased tariffs between the united states and china, so it does show that a much larger portion of trade is now subject to restrictive measures than we had before and the -- the liberalized measures are not keeping pace. they are way behind those numbers. >> so i would like to try and put that broad conclusion into context and as we're talking about before, you're the guy who's job is to scrutinize th

then we could deliver more updated agreements t7 so i want to respond to this administration we had larry kudlow who described it as broken, president trump earlier this year called it a catastrophe or a disaster for the nation if they don't shape up i will withdraw so what are the implications if they withdraw quick. >> the wto should have almost all global trade we are now more than 90 percent the us is a big chunk of that so they are very important players and participants for us but the system is very important to the united states as well the us if it ever left to both sides would lose significantly. i don't think we should be focusing on this but what is actually happening. and the united states is engaging very much with the wto they are negotiating. they are making proposals to negotiate. they are bringing cases although they are blocking the appointment of the fellow party members but so clearly they see merit in the system and they said we need to change this. this is not working properly some members may even agree to that but they say no. but that's the nature. t7 one of the c

david: white house economic advisor larry kudlow admitting today that though the u.s. is hopeful on new trade negotiations china has not always kept their end of the bargain take a listen. >> we've had promises in the past from china, okay? and the promises have not worked out. now, in the spirit of goodwill, and again, the president xi's amazing presentation to president trump saturday night in that positive optimistic spirit we have strong expectations. david: so can china be trusted this time and if not will investors and the markets lose all faith and the dial will ever be reached with us to discuss is gordon chang author of the coming collapse of china nuclear showdown. now gordon nobody can call president trump soft on china particularly after the tariffs. if he does get a deal whether it's optimistic lect you'll property or car tariffs or whatever don't you think this administration with president trump, with peter navarro will find some way of making it verifiable. >> well i certainly would hope so. we're not riding on a blank slate here. we have the 100 day ac

will be working closely with steve mnuchin, larry kudlow, and peter navarro to see whether a real deal with china is possible . if it is, we will get it done. china is supposed to start buying agricultural products and more immediately. president xi and i want to deal to happen and it probably will.

larry kudlow specifically saying they have taken him. at the same time saying there is apart in the past including this year. but they again are optimistic that with lighthizer in charge. the talks have gotten further than anytime in the administration he can potentially bring a deal home. connell: the chinese would think we have to keep that in mind from our point of view. good stuff. thanks as always for coming on. we appreciate it. francesca chambers, daily mail the white house. the protests we've been following over in france, look at this, really gotten out of control especially the past week and. this has been going on for a few weeks. an idea sounding good until people start feeling bad idea. gary b. smith joins us now. would he think of that? we raise the gas tax better for the environment and this is one of the ways we can pay for some of this often people say not at all. it's getting really violent there. >> exactly. i actually think, connell, this has become more than a protest against the gas tax. you have a country that is s

later on, we speak with the white house economic adviser larry kudlow. don't miss that interview. let's get straight to the bloomberg first word news. >> thanks very much. here is what is happening. u.k. prime minister reportedly weighing a plan to postpone the vote on the brexit deal with a hope of avoiding a landslide defeat in parliament. she has been meeting with parliament all week. the u.k. is on course to crash out of the eu in march without a deal if the vote goes down. her office is saying that the vote is still set to take place next tuesday. fed chairman jay powell is to -- delivering a bullish economy ahead of the latest payroll numbers in his speech to a housing conference.

stuart: our interview with larry kudlow is picked up, a partial reason for this selloff because larry kudlow says the fed responds to data, not pressure from mr. trump and data shows some weakness. that is the underlying theory. >> yep. stuart: we're at 24,700. cdc, centers for disease control, says romaine lettuce still making people sick. tell me about that. >> you thought it was safe? not the case. nine more people became sick after eating romaine lettuce amid a e.coli outbreak according to the cdc. a total of 52 were sickened across 15 states according to the cdc. highest number of cases reported in california, and new jersey. be careful stu. six in new hampshire. 19 people hospitalized. suffered from kid any failure. no one died. stuart: lettuce industry around the romaine lettuce, a tough challenge. >>> now this, i said it earlier this hour, looks like the storm clouds are gathering in europe and the mess could become very evident this coming week. i will put that to our next guest in our next hour, i should say, steve hilton. >>> but gm's steve, mary barra, on capitol hill. bee

we move the markets with larry kudlow's discussion. look at what's happening you go into the markets. markets open you have positive momentum on the jobs report. the sentiment is with us here is larry, comes on with us here and says comments that larry kudlow was typically make. for example, progress, get a lot done in 90 days on trade talks he would consider extending that truce if good progress on tariff discussions. all positive we go up 15 points in the s&p, then drift around, then peter navarro on another network he says if progress is not made in 90 days, we will reinstate tariffs essentially. down, 15 this is what makes everybody crazy. it is hard to get a consistent pattern in all of the discussions. and you get the usual things that tend to happen, but with all of the trade names, boeing, the same patterns, all of the big trade names that are represented tend to move to the down side. exactly the same thing boeing moving to the down side this is part of the problem that we've got here with the whole discussion, guys we have es

one of the president's top advisers larry kudlow. than a week of dramatic revelations in the mueller investigation. what do the court filing show and what does it mean for theia president? >> there is absolutely no collusion which is very important. >> senator king a key member of the senate intelligence committee joins us. >> we do not want to cause a shutdown of the government. >> we will ask our panel of the government shutdown over the border wall is now unavoidable. the power player of the week. >> if you stay here you die. >> one american hero act of devotion you will never get one - - forget. >> right now. "fox news sunday". chris: hello again from fox news in washington. the trump administration is getting a makeover. on his way to the army-navy game yesterday the president announced chief of staff kelly will leave by the end of the year. limited uncertainty over the us china trade deal casting a shadow over the economy that was a bright spot for the administration. joining us now trumps top white house economic advisor larry

larry kudlow says now. with regard to general kelly, i -- tell you that there is that nick is widely thought to be the successor, he served for vice president mike pence and has been prominent in republican circles. and he is someone who has kept his head down in the past is go years and developed a close relationship with president trump in addition to the vice president. kevin.thank you let's get a check on the markets , falling again today, with sawing all over the -- whip sawing all over the place. a final --ooking at mood for the u.s. averages. the dow jones, nasdaq, and s&p 500 are all down. take a look at the nasdaq 100, down over 2%, this is the worst performing sector on the s&p 500. you can see trade uncertainty is back in the dock -- the spotlight is dragging tech stocks lower. if you are looking at the big 2%, soapple is down over our semiconductor stocks like as well asell as -- an apple supplier that has not cut guidance for the next year. we are also looking at ulta 10%,y down almost investor

larry kudlow earlier steered us away from that idea. and one person is in charge, other than the president, on this conference call kudlow did say lighthighser will be lead being the talks. that seems to be getting more clear in terms of the arrangement on the staff side of who's actually running it. >> oil is surging on the back of the truce with china but a lot of other talk of supply cuts and qater is leaving opec. what it all means. as we head out, take a look at the rally. we do have the dow, triple digit gains here s&p almost at that 1% mark something is transforming and our world.. it's the longevity economy - americans 50+ driving 7.6 trillion dollars... of economic activity every year. right before our eyes, aging is unleashing exponential growth... ...in every industry. are you ready? we are. a-a-r-p is teaming up with business leaders and innovators... ...sparking new ideas and real solutions. so, what are you waiting for? - (phone ringing)a phones offers - big button,ecialized phones... and volume-enhanced phones., get detai

larry kudlow was in the room during that dinner and a larry kudlow joins us now. welcome to the program. good to see you, sir. what can you tell us about what was said discussed between president trump and president xi that the president knows about. i'm sure you know about it. can you give us a hint of what was discussed? >> yeah, almost everybody else in the world, make great condolences to the entire bush family. i knew president bush when he was vice president i worked for reagan. i ran a whole lot of areas for him. i also know president george w. bush rather well. bush was a great man and we are all sat at his passing. stuart: he was a great american come a wonderful man with a sense of honor and duty. that is something that has to be said. stuart: yes, thank you. regarding the dinner, i'm not sure what mr. pillsbury is talking about. look, let me begin -- stuart: let me return to that for a second. michael pillsbury said at that dinner, you were there. it went on for three hours, though some details were discussed about actual negotiations, specific negotiat

economy with one of the president's top advisers, larry kudlow. and a week of dramatic revelations and proper mothers russia investigation. what do the court filings show and what does it mean for the president? >> i think it's turning around nicely. there's no collusion which is very important. >>chris: senator angus king joins us. plus - - >> we do not want a trumpet temper tantrum to cover in our policies. >>chris: we will ask our sunday panel if the government shutdown is now unavoidable. and our "power player of the week". >> the pilot said tom, you stay here, you die. >>chris: one american heroes act of devotion you will never forget. >> thomas shouted that we will be back for you somehow, someday. >>chris: all right now on "fox news sunday". hello again from fox news in washington. the trump administration is getting a makeover. on his way to the army/navy game yesterday, the president announced john kelly will leave by the end of the year. meanwhile, uncertainty about the u.s./china trade is - - [indiscernible]. joining us now is larry kud

to your first question, i'm a big fan of larry kudlow. always have been, but i was not terribly convinced by his responses to your questions. where you put up the full screen graphics. here's what we are saying, here's what the chinese are saying. where do we go from here? i think there was a lot of let's wait and see. the markets are waiting and singing and i think that's why we are witnessing the downturn and the jitters. >>chris: we've seen this movie before where there's talk about an agreement they begin months of negotiations and nothing much concrete comes from the chinese. how worried are you and how worried should the markets be that we will see this again? is i think the president is moving us in the right direction. >> we all know they've been abusive in their intellectual property theft. the fact that the president is putting america first is exactly what he campaigned on. no doubt it will be a tumultuous getting there but the president is pushing us in the right direction. >>chris: are you confident the chinese will keep thei

larry kudlow knows all this stuff. he has this history about it. he is the best advisor i can manage trump having. >> sandra: what's the best case scenario that happens from here? details were light on this 90-day truce. what they are calling it. >> it is supposed to be light. he doesn't know what the details will be. they're trying to work the details out. i really don't like the idea of a 90-day drop dead point. but they have to do goals and targets, etc. to get negotiations really stimulated and going. remember, these negotiations are going to last for years and years. hopefully we can make a lot of progress. once that progress makes, there is no way of stopping it. china should be our closest and best trading partner. without china, there is no wal-mart and without wal-mart there is no middle or lower class prosperity in america. we need china desperately. and they need us desperately. there is no sense whatsoever if we don't get together and make agreements for that. >> sandra: that leverage is so important. the president called himself a tari

larry kudlow said the clock is ticking. by the doesn't sound like it's there just yet. >> they have made huge progress on the negotiation even to get it as far as it was today. i was one of the first teams to go to china in modern times. and the prekissenger trip. china is not easy to deal with. but when you have got xi and the president talking the way they did. you haired larry say xi was on top of the specific issues. you know trump is superly on top of them as well. when that happen, it's time for optimism and hopes for the future. i love it that our team is the team that's doing this. blake: the 90-day window starts january 1. so april 1. do you think there will be structural changes between now and then? >> i think we'll have a lot of changes by then. i think we'll be much more solid ground by april 1. i think it's the exaggerated window and not just the first day for things to begin. blake: coming up. spend less on the military? that's one suggestion from the rrp, or at least the interpretation of it. reports that th

i mean, you have got the white house and the markets calling it a victory, but both larry kudlow and treasury secretary mnuchin couched it with words like quote we expect and we believe and we think. which is it? what is the white house saying? >> they are celebrating this today, liz, because going into this dinner on saturday night, there was the real possibility that it would end in a nice meal, nice discussions and a stalemate and then the talks and discussions would be much different than what we have on this day which essentially you have right now a trade truce between the united states and china -- china, at least for the next 90 days, that's when both sides will discuss the major issues that are at play here, forced transfer of technology, ip theft, nontariff barriers, cyber intrusions, etc. so the white house, they are celebrating by saying, look, they've moved forward. the ball has been moved forward. however, there is also the recognition and the reality that they still have a ways to go on a host of issues. most especially over the next 90 days or so. listen here to steve

larry kudlow has said the two sides are close to resolving a deal on tech theft. where ourto beijing guest is standing by. what is the reaction in china to this agreement, at least in principle? >> generally neutral to negative. people in the last 24 hours have ,een looking into the text comparing disparities, particularly on tech transfer and ip theft, no direct acknowledgment of that issue in the chinese statement. i think the general sense is they are quite a ways apart. emily: what does it mean in essence for the china tech industry versus the u.s. tech industry? state ministers involved in ownership over state-owned enterprises has stated that events like the zte ban, and other actions taken throughout the process has woken up the chinese tech industry to its need to develop core thenologies and i think situation continues to breed sentiment within the chinese that they need to look for other trading options from other territories between the agriculture space, looking for markets to sell their product and overall, reducing dependence on the u.s. as an import

i'm a big fan of larry kudlow, always have been. but i was not terribly convinced by his responses to your questions where you put up the full screen graphics. here's what we are saying, here's what the chinese are saying, where we go from here? and i think there was sort of a lot of let's wait and see in the markets are waiting and seeing and that's why we're seeing i think and witnessing the downturn in the jitters. >> chris: congressman, we've got about a minute left. we've seen this movie before weathers talk about an agreement. they begin months of negotiations and nothing much concrete comes from the chinese. how worried are you? how where each of the markets be that we are going to see this again? >> i think the president is actually willing us in the right direction. we all know that china has been abusive in their intellectual property theft. if an taking advantage of the u.s. markets. the fact that the president is putting america first is exactly what he campaigned on. no doubt it's going to be tumultuous getting there bu

hope that larry kudlow is right. kennedy: i hope he's right. i'm glad you're here because you're always right. thank you so much. great beard. >>> heisman trophy winner kyler murray was barely able to celebrate when social media. howie kurtz weighs in on the controversy next. ♪ ♪ ♪ this holiday season, families near you need your help. visit redcross.org now to donate. baseball was considered to be or national past time but it's been replaced by digging through people's old tweets to get them in trouble. oklahoma quarterback kyler murray won the heisman trophy on saturday night but his report night was quickly up ende endedy social media. he apologized quote, i apologize for the tweets that have come to light tonight for when it was 14 or 15. that doesn't reflect who i am or what i believe. i do not plan to single out any individual or group. at least he didn't claim he was hacked, joy reid. murray's apology comes on the heels of kevin hart's decision to quick the hoes cars after his tweets surfaced last week. many people believe that the

i think larry kudlow is coming out saying yeah, we want a deal but trust but verify. we just don't want to make some kind of paper deal, find out three months from now or a year from now that we have been taken advantage of. and i think also, too, we are going to have -- a day of sympathy tomorrow for president bush, we will not be trading tomorrow so that could be adding to the volatility we are seeing today. liz: larry, i tend to agree on certain levels with john and phil but i do have to say this about the trade situation. trust and verify, absolutely. we know the chinese have made promises in the past but it's been radio silence since sunday from the chinese. the commerce ministry and foreign ministry keep referring reporters to each other's ministries and they're quiet. they are mute. i'm not surprised to see this. but there are other stock stories that aren't helping the picture. i'm surprised, i don't know if we can get the home builders up. toll had a bad story. i want to let people know that toll had the first fall in quarterly orders in four years. we've got

ask larry. >> let's get to larry kudlow joining us this morning. labor department says job growth did slow in november, $155,000 jobs added for the month unemployment steady at 3.7 larry g to have you. >> good morning, carl. >> the three-month average goes to 1.70. weakest consumer goods print since march. adp says job growth has peaked has it >> i don't know if it's peaked we're running 200,000, 206,000 a month. for the entire year through november that's pretty good last month was 250 this month 155 i was impressed with the manufacturing number, which was about 27,000 this has been a blue collar recovery the best blue collar job performance since the 1980s. i think it's a decent number >> month on month, average hourly earnings were revised down un. market will like that news you can blame them >> i don't know. i like higher wages. i like working people getting higher wages i even like broadcasters getting higher wages 3.1% average hourly earnings year on year times hours worked probably running atne near 5% a an income proxy for main street work

that's by mnuchin, larry kudlow. the indian market stepping back a little bit. let's have a look at the bond market. what you see is a huge amount of buying in futures at the moment in u.s. bond futures at the moment, breaking through the 200 and moving average. that is buying futures, taking the other down over the two days. we see the losses overall in the bond market. the bloomberg markets treasury indexed narrowing the losses to 1.1%. we will debate all of those things. nejra: good morning. well done to you too. yesterday we were asking how long the trade truce rally would last. yesterday we saw gains on the s&p 500 of more than 1%. futures pointing lower in today's session. in the european session we saw carmakers, technology stocks, commodity producers leading the rally. what sort of rotation might we see with some risk coming off the table today? dollar-yen did not move a whole lot. bc this move it little bit more now, money moving into the yen -- you see this move a little bit more now, money moving into the yen. 5 yield curvehe 2- inverting for the firs

this morning talking to john bolton and larry kudlow talking about the deal and the dinner i have to say qualcomm and some general promise i didn't hear anything specific that the chinese committed to what did they commit to quick. >> i will put this into perspective because i think it's important we have been having discussions with our current trip on - - counterparts with multiple trips over a long period of time. president trump and president xi spoke it was clear they would be at the g 20 and we started to do the work for this meeting this was the first time that china responded to us on the structural side with very specific items so they took the original document and they put it in 142 specific items then came back in advance of the meeting with risk specific responses to the other 142 items that they committed to and what they could do within a short period of time for those that were problematic. going into this meeting there was substantially more work done on the structural and nonstructural items. prior to the meeting myself and director kudlow had two meetings with the

that's what larry kudlow -- >> here's the box you're in. on friday, tomorrow, you're going to get a bls payroll number for last month. the number for october was a blowout. you probably don't want to see another red hot number. i think wall street now is in this opposition. where it wants cool thing, things to cool off a little bit. and one of the final rate hikes of the cycle. i think that's an interesting place for wall street to find itself in. which is kind of looking for tepid, lukewarm news. zw >> i need to give credit to citi. whoever gets credit for he said/she said, genius. the mueller investigation took a pause yesterday but after the explosive detame alils revealed there was bigger detail alils redacted. two more filings expected in the next 48 hours. before we go, after yiea day of mourning, president george h.w. bush will be laid to rest today. funeral services will begin in less than two hours at st. martin's episcopal church in houston, texas, where the former president worshipeded for 50 years. his body will be transported b

larry kudlow saying he expects china to not go ahead with tariffs on auto imports. top executives from daimler and volkswagen are set to meet the trump administration -- officials from the trump administration today over those threatened tariffs we are seeing the negative picture here in the auto space daimler down about 1.8%. volkswagen down about 2% leading those -- that weakness there the italian banks in focus today after italian prime minister joumanna bercetcgo conte is saying he could reasonably include a lower deficit. looking at the italian stocks, not a huge amount of movement. the biggest mover is ubi bank down 1.6%. >>> italy has increased efforts to solve its budget problems, that's according to the commissioner for economic affairs, pierre moscovici. he said talks were intense but have become more constructive over the past week he said the commission welcomed italy's reduced deficit target >> we've also taken note of the recent announcement of the last days in order to reduce public deficit in italy that's in the right direction. we are waiting for mo

we saw larry kudlow say today that actually the announcement yesterday, or on sunday over twitter that china had agreed to lower auto tariffs, that has not been signed, sealed and delivered. so they are already backtracking on promises. and we had donald tweeting today that unless the talks are extended, they expect commitments from china to come through in these 90 days. but on sunday we were given the impression that the 90 days was a firm timeline from the u.s. side, now it looks like donald trump is willing to extend that. david: and looking from the chinese side, they have talked about what has been done and they did not make a mention of the 90 days, so i am not sure how firm that is. sarah: all the official statements we have right now from the chinese is what we got from this saturday night dinner. president xi on tour right now and he is not going to be back in china into later this week, so we have not heard much more compared to the donald trump's administration. so i think that once we hear, there is usually a thursday briefing from the commerce so oncent in beijing, it we

it was initially said december 1st and larry kudlow came out and said it was january 1st. they came out yesterday with a statement that said it was, in fact, december 1st. you mentioned earlier in the program some uncertainty about auto tariffs. we don't know a lot of the facts agreed to. >> not a good look when your chief economic adviser doesn't know -- >> that's accidents adates are important when it comes to what's happening. >> the china stalling pattern. the longer they can talk, the way the chinese view this is the longer they have to work around the edges on this. they don't want any agreement where tariffs are set in stone. what they really like about this great is it pushes off the ratcheting up of tariffs. this is very flexible and donald trump is always change his position at a moment's notice like they did extending it out 90 days. so it's very possible that could.happen again and i think that's what the chinese are looking for. >>> silicone valley, what are we looking at 2019? >> we've spoken a lot about the regulatory threat that's looming for tech companies

. >> let's get questions for the audience for larry kudlow. any questions -- right here in the front, please. >> i'll ask the same question i asked ambassador bolton, so there is a list of 142 or so items that have been presented to the chinese and if they agree on behaving perfectly on wto and they agree to stop cyber theft, if they agree to ip protection, you mentioned dropping tariffs on autos, what else on the 142 list is really important, high priority for the u.s. side? >> by the way, i assume john mentioned this aspect, but whatever happens or doesn't happen, our monitoring and enforcement will be very, very strong. again, my former boss reaganed is trust but verify and the chinese are not good on that and we have a history. so whatever comes, i want to make that point. and i also -- the various aspects of the technology problems i'll call them are so important. we are talking about commodities, we're talking -- and i ask le eu hey and since it is not government -- and which is consistent with the prior views, tariff rates have to come

on the panel today, will stock rock to dow diving nearly 800, after larry kudlow said this about a u.s., china trade deal. >> it may not get done, okay? i'm saying that it looks to me like the ball is being moved in the right direction. much more than past 8 or 9 months, but i can't sit up here and say we'll get this, this

so, we listened this morning, we all did to john boatman and larry kudlow talk about the china dinner and the deal, i have to say with general promise devising good, i did not hear anything specifically that the chinese committed to. what did they commit to? >> let me put this into perspective because i think that this is important to understand the perspective. we'd had discussions with our counterparts over the last year and a half, we had multiple trips over a long period of time the. when the president, when president trump and the chinese president spoke it was clear they would meet at g-20 and it was clear we needed to do work for the meeting. this was the first time china responded to us on this truck full side with very specific items so they took what was the original 30 page document and they put it in 142 specific items and they came back in advance of the meeting with specific responses to the 142 items with certain things that they committed to deal with immediately and certain things they could deal with that were more problematic and so, going into the meeting, i think

larry kudlow was a young staffer. every time he prepped the then vice president for a foreign trip or for an economic trip with bullet points, at the end, bush, ever the gracious host, would have larry come down the hall to the vice president's office to thank him in person. just emphasizing what a gracious vice president he was to interact with and how the staff really felt a warm spot for him. this can be a cutthroat town sometimes and those little gestures mean a lot to people. larry kudlow reflective. >> amazing a human being and the words being used today to describe him really tell the story. it's often what they say, what others say about you that really tell who this person was many more terms used today to describe the president >> reporter: an element of bipartisanship that seems quaint in today's washington. this was a president defeated, you would think that would create a lasting grudge but they were able to forge a friendship and bond this was a president who interacted with barack obama, a democrat who

larry kudlow's answer after this i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪ from capital one.nd i switched to the spark cash card i earn unlimited 2% cash back on everything i buy. and last year, i earned $36,000 in cash back. which i used to offer health insurance to my employees. what's in your wallet? >> i don't think the fed is responding to the pressure. at least very senior people at the fed, they're responding to the data. now look, the president has made his views known. as an experienced successful businessman and investor. so, he was not happy, felt they were moving rates too high, too fast. david: presidential economic advisor larry kudlow saying the fed's new wait and see approach is not fr

i would also say to greg's point, with respect to the lack of policy -- >> by the way, larry kudlow did suggest it could be more than 90 days the closer we get to looking to 2020 the more you wonder if the administration is saying, we either better have the recession now or we're going to make sure it doesn't happen during receipt election campaign. >> they don't have fiscal or monetary flexibility to wart that off should the economy weaken substantially and to greg's point maybe the european central bank, maybe the bank of japan starting to remove themselves they're going to do that japan third quarter negative, it's the wrong time elsewhere in the world to remove that >> and oh, by the way, when the democrats control the house they're not going to make anything easy for this administration. >> although ironically if they wanted to spend a bunch of money, the administration might say go for it. >> we're in a trillion dollars deficit. good luck selling those bonds with the shrinking balance sheet. >> thank you, guys. >>> coming up, netflix toumbles apple loses all of its gains we're tal

and white house economic advisor larry kudlow stopped short of calling them an agreement. >> the history here with prisno. >>ter:today,resint iredff a counsel robert mueller an out-of-control prosecutor and saying his former lawyer and long-time confidant michael cohen should serve a full sentence for lying to congress. jeff? >> weijia jiang, thank you, at the white house. >>> coming up next, questions about the nfl's investigation of a star running back accused of assaulting a woman. know what turns me on? my better half, hors d oeuvres and bubbly. and when i really want to take it up a notch we use k-y yours & mine. tingling for me, warming for him. wow! this holiday season get what you want still fresh... ♪ unstopables in-wash scent booster ♪ downy unstopables dove gives you so you can wear anything.ms from athletic tops to zebra dresses, and everything in between. enjoy 48 hour protection and softer, smoother underarms. with dove antiperspirants. >>> the national football league is facing questions about kareem hunt who was horted pushing and kicking a woman earlier this year. je

, before it was larry kudlow, it was gary, who was here, sat in the meetings with me. we have different views at times, we present the different views to the president, and the president gives us direction. bob being the ustr is the right person who clearly should be the one who is negotiating the agreement. it is his job to turn this into an agreement. i am very involved with the vice premiere who is my counterpart, i've been involved in all of the detailed discussions, but clearly, the job of documenting this clearly belongs with the ustr, and there is nothing more to this. i know the paper wants to make this out as kind of a, you know, one team versus the other team. as a matter of fact, i will tell you, president trump said in the meeting with president xi, even joked about the fact that we had different people with different views, and president xi kind of looked there and smiled and he had said, yeah, i have the same thing across my talble. so obviously, people have different views but we do have an integrated approach. everybody wants to get to the same place. >

so this morning we look to john bolton and larry kudlow about the china dinner and the deal with fentanyl and qualcomm and then they promised to buy some goods. >> let me put this into perspective. it is important to understand over the last year and a half over a long period of time what president trump in the chinese president spoke then we started to do work. this was the first time that china responded to us on the structural side with very specific items. they took the original 30 page document with 142 specific items and came back in advance of the meeting with specific responses with certain things they could deal with in a short period of time and others that were more problematic. going into this meeting there was substantially more work done on the structural and nonstructural items. prior to the meeting ambassador light heiser and myself and ambassador kudlow were with the vice premier and others and we had several meetings with the president that i want to hear this directly what they are committed to do. so to say all we heard about was qualcomm to buy things i don't think th

the economic power of larry kudlow, navarro, i mean they all made this agree with each other but this is a powerful group. i wouldn't take it lightly. >> look, there is a powerful group and that's some intellectual huff there no question about it and most of them are dedicated to principles of free-trade, but i think what has been underestimated is how slippery the chinese are. you know, even when it comes to just keeping your word, they don't seem to, seem to stick to western standards of behavior and that means look, trump cannot back down here. this is the most important point he cannot blink. he has to move forward. it is going to be painful. you may see more days like what we saw today in the market but in the end i'm with liz. i think he's going to get a deal and david when he gets that deal it's the biggest explosion in the stock market you ever saw so that long term gain is out there >> one thing i would also add don't forget china is not exactly innocent here either they're not sticking to just trade discussions. think about what's been going on with china and north korea beh

when questioned about it, larry kudlow dialed back expectations and added qualifiers. larry: i am not the lead negotiator. , think at the end of 90 days they have to show significant progress. matt: joining us now from jijing is james maker, -- ames, bloomberg's china economy editor. do we know what the u.s. and china agreed to, other than the words of the united states president? james: we know that both sides the agreed that the tariffs u.s. was going to impose on china will not happen on january 1. those will be at least postponed until the start of march. we know the sides have an agreement on what to do about the opioid fentanyl. china exports a love that legally to the u.s. -- a lot of that legally to the u.s. on major issues on tariffs agricultural products and cars, all of these issues, china and the u.s. saying one thing. now you see larry kudlow dialing back trump's statements. china has not confirmed anything so far. all that the chinese have said china will is that work with the u.s. to gradually eased trade imbalances and gradually resolve the reasonable c

kudlow -- i larry don't think -- i think the chinese will look at this badly. they will rush and say let's negotiate before the deadline i think is a wrong one. it chinese will approach from a strategy point of view, not a transactional basis. think of this as being a long, drawnout matter. as well as a hostage crisis. >> in terms of how this does or doesn't affect the fed -- larry kudlow spoke about expectations that trade talks will stay on course. but he also spoke about what he expects from the fed, and we saw some interesting repricing of expectations. let's take a listen to what he had to say. >> what i'm looking at, i think they are signaling that they will do something later this month but that will be all for quite some time and i would add to that, my boss, president trump, that is very much in line with his thinking. let's go straight to a chart that shows how we are stacked in terms of financial conditions. >> the most important thing is the inversion of the yield curve. this inversion of the yield curve is suggesting that there will be a recession

this is something that larry always -- larry kudlow said all the time, and trump says all the time because it's true. when you cut taxes for businesses it's a middle-class tax-cut. people say how could that be? when you get businesses investigate more in the country they're going to hire more workers, pay them more, predictive is related to the business investment. if you have a truck company that has 18 trucks, and now they have 20, they have to hire two more truck drivers. it was oriented to get businesses healthy, so they could hire more workers. and you know this we have 7 million more jobs than we have people to fill them today in america. that gives workers a lot of opportunities to had bring their wages up. >> veronique: i think it's a point worth repeating. that the corporate income tax rate is not just a give away to businesses. o. >> stephen: it helps workers. >> veronique: the economic research shows very clearly it lese to more capital investments which leads to more productivity, and that leads to higher wages. and the economic growth means as you said more jobs. but also the

one of the president's top advisers larry kudlow. than a week of dramatic revelations in the mueller investigation. what do the court filing show and what does it mean for theia

we will get more of jonathan's interview with larry kudlow. >this is bloomberg. ♪ guy: time now for the stop of the hour -- stop and the hour. we're looking at broadcom. the chipmaker is going against the recent trend for apple supplies and rallying after earnings below data to get the credit for the rally. let's find out more details. here is taylor riggs. broadcom is a key apple supplier. we have heard bad things recently from all of those apple suppliers giving the slowdown in sales. broadcom differentiating themselves and a really upbeat sales forecast for 2019. continue to grow year-over-year on the topline line revenue growth. they are forecasting .4 $.5 $4.5on in be analyst -- billion and beat analysts forecasts we have a quote saying they expect moderation of the iphone sales but continued robust demand from cloud providers. it is the cloud providers and data centers from google and amazon that are the future of their growth. guy: taylor, other chipmakers have not had such a good run and have been struggling and the iphone sales stor

trump stole larry kudlow away from us now he's the most important economist in the worl world. but we met trump almost exactly three years ago late 2015 for the presidential race just starting then there was that first meeting to the whole campaign people watching the show have strong opinions about donald trump and he is pretty polarizing so we try to give the honest assessment of how he operates i greatly admire the man but there is a lot of great things about trump and character defects as well we try to lay that out in the first half i have come to admire him. he is focused on growth you have to get the economy growing so that i think is the focus of what "trumponomics" is about growing the economy going back to work trump is pro-business i love that about him because you can have jobs if businesses are not doing well that ten years ago we elected a community organizer who is focused on how these public policy decisions benefit american businesses. >>host: but first we want to talk about the man. >> you remind us how unlikely it was did you always see that coming? that's a

kudlow the economic advisor have said well perhaps there is some wiggle room this could be extended so as usual with the top administration we're getting mixed messages. thank you very much you have a tendency in washington now organizations that provide support services to refugees and migrants in italy say there's been an increase in racist attacks that's being blamed on the rise of right wing politicians and nationalist massachusetts and now many of those arriving in italy say they don't feel safe so nick ports from rome. a rallying call on heard voices for those gathered here it is an anxious time caught in a no man's land they face hostility in a country where nationalism and populism have surged in the past year. activists like andrea who work with refugees and migrants say they have seen the effects face to face and they describe how italy's government has treated those seeking refuge dominated as it is by the rhetoric of the far right deputy prime minister but they are. it's somebody can feel free to do it because they say look we're the chief of the police and so it's like

larry kudlow got it wrong yesterday. that is supposedly straightened out. president trump's tweet that he is a tariff man certainly didn't help. we hit technical issues, in the bond market, deirdre, and treasurys as we're down almost 600 right now. reporter: i noted this the three-year t-note surpassed the five-year counter part, right? you build on the anxiety, the idea are we heading into recession. i want to be clear there is no economist i have spoken with who is legitimately concerned about that. even from this conversation this morning all the data points were underlined, near record unemployment, wage growth for first time in a decade, all kinds of positive strength. people coming off the benches, more people want to work, more people are able to find work. so the underpinnings are strong but yet we are seeing obviously a lot of anxiety show up, both in the stock market, and in the bond market. a lot of that does seem to be macro. seems to be a little bit focused on trade, connell. connell: no doubt. we'll be back. deirdre bolton in new york at the n