edward lawrence here to break down what it all means. edward? reporter: yeah, this is a major shift from the administration here. the citizenship and immigration services saying now that children born to u.s. citizens outside of the united states are not automatically u.s. citizens. also saying that children coming into or parents coming into the united states just basically to have a birth, that child is also not automatically a u.s. citizen. these rules go into effect on october 29th. brand new rules that were just posted to their website. it clarifies the temporary visit to the united states is what they are talking about with the children coming in, the temporary visit does not mean that child then is a u.s. citizen. you have to be in the united states for six weeks or longer in order to claim citizenship automatically to the united states. so a big change, something the president has been looking for to harden the immigration laws. no doubt this possibly will be challenged in court. as of now, october 29th, this will be the new rule. back t

edward lawrence talking about it here. the administration telling government agencies not to buy directly from them. where will huawei ultimately be? what part of this equation will it be to the ultimate resolution of this? >> huawei should have never been part of the trade deal. huawei is a national security issue, going back to the bush administration, the obama administration. this is not something that the trump administration just envisioned and come up with now. huawei being part of our 5g telecommunications network is a nonstarter as far as i'm concerned and people don't really realize that 5g is not just the next step from 4g. it is a whole ecosystem evolution where we're going. it will be where the smart cities will be built on. it's a whole new streaming system that huawei really can't be a part of. charles: you talked about the idea that when we make these deals, you dealt with china. you understand china better than anyone else. >> yeah. charles: you suffered some personal financial losses or losses for your cl

edward lawrence comes back in again, please. what's the latest, edward lawrence in d.c.? reporter: the good news, the phone call happened this morning between the two trade delegations, the u.s. side and the chinese side. they agreed to talk in two more weeks. again, talks are good at this point. out of that phone call, the u.s. trade representative's office announced that the u.s. would delay tariffs on a number of items, 21 pages worth of items, until december 15th. now, we are talking about things like cell phones, laptops, cell phones the reason probably apple has spiked here, you mentioned 2%. laptops, clothing, also we are talking about drill bits, different tools. so all this will be delayed until december 15th. that moves it after the shopping season, the holiday shopping season, we are towards the end of it so consumers don't feel that pinch as they are buying gifts there. there are some products that will go under tariff on september 1st, mainly agricultural products, steel products, wire and art supplies are some big categories, including sculptures and art tha

jackie: fox business team coverageed edward lawrence at white house. phil flynn watching action in oil and gold from cme. first to edward. reporter: you her a first here, within the last 20 minutes or so, u.s. citizen immigration service releasing new rules saying kids born to u.s. citizens outside the united states are not necessarily u.s. citizens. it is not an automatic process. temporary visits to the united states do not establish residency. now these rules go into effect on october 29th. what has to happen, if you are a u.s. citizen, have a child abroad after october 29th, you have to apply for that child to be a u.s. citizen. also, if you're having temporary visit here that would cover women who give her to give birth to the children, you would have to be here for six weeks or more in order for the child to automatically a u.s. resident. you can apply for that. also white house receiving a letter from 200 footwear companies. those companies concerned. they want the president to cancel the next round of tariffs 10% to 15% of $300 billion of chine

lou: thank you ed war lawrence. >> -- edward lawrence. >> joining us. ed rollins, "new york post" columnist. michael goodwin, he gets to keep it either way. >> thank you. lou: start with epstein, here he is, a man who over two weeks ago, attempted suicide. he is no longer on suicide watch. how does this happen? >> this is one of most absurd things, i know judicial system st broken, but this this case there should have been a 24 hours a day watch, there was a huge hearing friday, released all kinds of documents he has involvement with very important people in world, rich and powerful. and idea he could be just sitting in there, and deciding he wants to hang himself, that is suspicious. lou: quite a scenario i are drafting there, i don't know that we can go that far. >> i can't, but i just -- i can tell you it was incompetent. andry have a prisoner like that you need to watch him. lou: i'm saying, i don't know if we could go that far, not improper to speculate, i welcome the speculation. and always logical. but to think that we have to guess at why the bu

louis fed president james bullard, courtesy of edward lawrence live in st. louis. go ahead. take it away, edward. >> liz, thank you. very special guest, as you know, the st. louis fed president jim bullard joining me here today. he's a voting member of the fomc and the first question, big question, where's the economy right now? are you worried about the volatility you're seeing? are you worried about the numbers that are coming in? >> well, we certainly pay attention to markets and all the data that comes in. i think we're in the middle of a global slowdown, and we're just going to have to assess how this is going to affect the u.s. economy. i think it's not surprising that it would feedback into equities because you've got a lot of these big companies have most of their profits coming from overseas. so it's not surprising to see volatile stock market here. and then in bonds, you've got a flight to safety going on that's probably driving our yield somewhat lower. >> you mentioned bonds yesterday, the inversion of the two-year and the ten-year yields. is that an indicator of

if you want to see more of edward lawrence, this is a promotion. not edward. that is a picture of myself. that doesn't get any worse. edward part of a very special program for this sunday. obviously i'm hosting it. edward and a panel of experts talking about the challenge of china. a big picture view. get beyond the tariffs. talk about big picture cultural issues, 9:00 p.m. eastern sunday. is when it premiers, fox business, never-before-seen highlights of our trip to china earlier this summer. coming up first on sunday night. deirdre: we'll watch it. meantime, also a return to studio 8 h h. comedian heady murphy set to host "snl" for the first time in 35 years. we'll tell you what is behind his return. ♪ all right brad, once again i have revolutionized the songwriting process. oh, here we go. i know i can't play an instrument, but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense. pet insurance, wait, let me guess... flea flicker. yes! how'd you know? stud

edward lawrence at the white house. deirdre bolton on the floor of the new york stock exchange. jeff flock watching action in oil from the cme but we begin at the white house with edward lawrence. edward? reporter: ashley we'll hear from the president in a matter of minutes. he talked about the european union. he says auto tariffs are not off the table on this. the president dealing with the european union. he signed a limited agreement with the european union today. talking about hormone-free beef. the u.s. will be guaranteed a market share for importing that beef without tariffs. the president says in the first year exports from the u.s. will increase 46%. then over seven years, they will increase 90%. [no audio] >> we're proud of our farmers and ranchers. we love our farmers and ranchers. with this announcement we take one more step giving them a level playing field they have been looking forward to this for many, many years. you folks know that. they want a level playing field. that is all they want. nobody can beat them. reporter: the u.s. trade representative says this cou

with the administration's decision, edward lawrence reporting from washington. reporter: president deciding to put some items under tariff on september 1, others delayed until december 15, largest group items on september 1, they include many things like milk, meat, agriculture products, sour cream, also steel products. and u.s. trade representative delayed tariffs on other items until december 15 or health, safety and national security reasons, that is cell phone, laptop. video game, toys and clothing, u.s. and china trade teams had a phone conversation this morning, no real progress on overall trade deal. but they agreed to talk against in two weeks. we wanted to know if china gave up anything for that delay in tariffs. we asked chinese commerce ministry the spokesperson said no. and china still refuses on buy u.s. agriculture. >> so far they have disappointed me. they have not been truthful or they have delayed the their decision. we had a good call with china. they would like to do it. the problem in hong kong, they would like to do something. reporter: pres

with the administrations decision, edward lawrence reported from washington. reporter: the president decided to put some items under tariff on september 1 and others delayed until december 15. large group go under tariff on the september 1. including milk and sour cream. they say they delay tariffs and other items until december 15 for health, safety and national security reasons. the list includes cell phones, laptop computers, video game consoles, toys and clothing. u.s. and china trade teams had a conversation this morning. no will progress on the trade deal but under that they still agreed to talk again in two weeks. we wanted to know china gave up anything to have the delay in tariffs. if the chinese commerce ministry if anything was given up. the spokesperson said basically no into china still refuses to buy u.s. agriculture. >> so far -- [inaudible] reporter: the president still hoping china reverses course and buys from the farmers. the market today like this for two reasons. one, some tariffs were delayed until december 15. also, the two subject conti

fortunately, edward lawrence does not. he's at the white house right now. reporter: the signing ceremony, talking about the european union, it's an agreement with the european union over specifically hormone-free beef and what this allows the u.s. farmers to do is ship more hormone-free beef to the european union. now, a senior european union official says this shows the cooperation between the eu and the u.s., establishing a positive bilateral trade agenda there. white house economic adviser larry kudlow talked about this briefly this morning. >> america has great beef. reporter: what this signing does, it gives the president a victory on a partial trade deal with the european union. it allows u.s. ranchers to start being competitive in hormone-free beef in europe. it gives the u.s. a share of exports in the marketplace. and it resolves long-standing issues with the european union. now, the administration is in the middle of negotiating a larger trade deal with the european union. at the moment that larger deal is at a stalemate. the european union does no

edward lawrence with more, edward? reporter: president donald trump canceling the trip to poland because after hurricane with its sights set on florida. the president sending vice president mike pence to poland in his place. that is in case the president needs to oversee any type of response. the president also a few hours ago launching the u.s. space command. he wants to make that the 6th branch of the military underneath the air force. the president needs congressional approval for that, but he does want to make sure that this goes into play. listen. >> we opened another great chapter in the extraordinary history of the united states military. spacecom will insure that america's dominance in space is never questioned, never threatened. reporter: the president, says that space force will protect the united states from threats from above. the president also protecting his reputation after two years of bashing former fbi director james comey, the president now has some backup through inspector general report. that repor

neil: edward lawrence, thank you very much. what does the latest back and forth between the two powers mean for the trade negotiations? here with insight, former u.s. ambassador to china, max baucus. thank you for joining us. what do you make, the war of words are up, both sides taken next steps but no one canceled this next meeting. this still feels like there are occasional olive branch out there. can you handicap where we go from here? >> i hope we continue to negotiate. our last meeting was in shanghai. there was no resolution. sometimes with negotiations there are not resolutions many frankly i think it was a mistake for the united states to add another 10% tariff even though the negotiations have been going okay, i'm not all surprised that china let their currency deevaluate a little bit. this question of currency manipulation is interesting one. china has spent more time propping up value of their currency over last several years, rather than letting it fall. so if they're a manipulator they're doing it the right way, no

>> trace: edward lawrence live. thank you, sir. the outbreak of severe lung disease in people that used to have or have used e cigarettes is growing fast. the feds say they're investigating 215 possible cases across 25 states. one of the patients died in illinois last week. health officials report some people became sick after vaping thc. that's the chemical in marijuana that gets you high. doctors say in many cases the symptoms develop gradually and include shortness of breath, chest pain, vomiting. federal officials warning americans don't use any bootleg e cigarettes or add any substances to them. after the show, we'll have a fox news update on facebook watch. it's a quick update on the news and stories that you might have missed. it streams live on the facebook watch home page. you can also watch it any time on demand. we're watching the big storm right now in florida. dorian, category three. could be category four. a storm north of fort pierce on the east coast of florida, a major hurricane. never happened. we'll keep watching

edward lawrence has more on that. good morning. >> reporter: good morning. 200-footwear companies signed a letter delivering it to the president something askin askine course and cancel the next round of tariffs, which will be at 15% on the additional $300 billion worth of chinese imports coming into the united states. the first part goes into effect on sunday, the rest on december 15th. the footwear companies say the cost to americans would be $4 billion each year. the point of the administration is that this is a long-term gain because according to the u.s. secretary of agriculture, americans will lose more over time with the status quo. >> the question is, what's china going to do to stop stealing our stuff. maybe you would like to ask china, president xi, what china's going to do to come to the table and trade like a number two economy in the world and trade fairly, freely, and without hassling and jerking our producers around. >> reporter: as the u.s. trade representative's office increases the tariffs, the chine

eq edward lawrence at the white house. christina: let's check the boards. dow up 325 -- almost 326 points. the ugly august could be coming to a close but could a worse month beyond the horizon customer september on average is the worst performing month, what can investors expect in the next coming week. we go back to the trading floor when the countdown comes back. from the couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and switch it up at anytime so you only pay for what you need. it's a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you buy a new samsung note. click, call or visit a store today. christina: the dow is on the way to raveling more than 300 points but the major average is on pace to close lower than 1.8% for august with the dow and s&p 500 and nasdaq seen double-digit gains this far, how is septembe.

fox business' edward lawrence, he's not on the white house lawn. no, for a change he joins us live in the studio, living and breathing and in person. edward, welcome. so much to go at. of course, the g7 created so many headlines, but let's get first to the china trade issue. >> first that rare earth -- ashley: you want to get to that? >> you mentioned that, that's a huge lion's share, 80% of the materials you mentioned we get those from china right now, so those are everything from in your cell phones, radios, ipads, also military equipment. if china uses that as a weapon in the trade war, it could have an immediate effect. the u.s. wants to find other sources. ashley, right now we're looking at another high-level phone conversation between the heads of trade teams. two weeks ago u.s. trade representative robert lighthizer, treasury secretary steven mnuchin, the chinese vice premier and commerce minister spoke setting up a second call. this call will organize a face to face meeting, and there have been calls -- their calls have been at the center o

melissa: cutting ties, as edward lawrence just reported. president trump telling reporters today the u.s. government is done doing business with huawei. listen the. >> we're not doing business with huawei. we're not doing business with them. i really made the decision. it is much simpler not to do any business with huawei. so we're not doing business with huawei. that doesn't mean we won't agree to something if and when we make a trade deal but we're not going to be doing business with huawei. melissa: after the chinese telecom giant unveiled a smartphone operating system that could replace google's android in an effort to insulate itself against u.s. sanctions. gary, what do you make of that move? >> well, you know, it is interesting. i don't know what percentage the federal government is of huawei. i would suspect it is fairly small and to me it is kind of as we used to say sleeves out of the vest. i don't think he is giving away anything. i don't think he is getting anything because most of the government agencies do business indirectly

edward lawrence at the while house with latest on exactly where that trade war stands. edward? reporter: ashley, a lot of movement within china now talking about possibly showing this could be a prolonged trade dispute with china of the chinese fully expecting 10% tariffs on $300 billion of additional imports to go into effect september 1st. our chinese sources also telling us that the chinese are preparing for the 10% tariffs to become 25% going forward because china will not buy u.s. agriculture. the chinese also at an annual government retreat where our sources say they are working on ways to retaliate against the u.s. that will not affect china's economy. one of the ideas to further support government companies and support foreign companies in china, not just from the u.s. still as china's economy slowing, president donald trump seeing and believing china will need a deal. >> they are losing thousands and thousands of companies are leaving china now because of the tariffs. we're in a very good position as to whether or not a deal will be made, i will tell you this, china wo

edward lawrence is here with details for us. edward? reporter: chinese sources are telling us that meeting in shanghai did not go well. in fact the chinese will not add in any concessions they had made originally in the trade deal, they deleted from the deal. chinese say there is directive from beijing to try to decouple from reliance on the u.s. economy. that could already be seen in an agreement they made with russia, basically china will try to create a soybean industry for russia, including technology and the transportation of that but chinese sources again saying that this meeting did not go well for the u.s., or for china. they were really digging in their heels. the newest member of that meeting, the chinese commerce minister really dug in, saying he basically wasn't quite up to speed on everything. he needed to delay. there was a lot of delaying going on within the meeting t did not sit well with the u.s. side, u.s. trade team according to our sources there. again the chinese unwilling to budge or add back in anything, or any co

edward lawrence is live from jackson hole with the latest for us. edward? reporter: connell, tough assignment being here. we're looking forward to that speech tomorrow by federal reserve chairman jerome powell, specifically looking to see what he talks about with trade uncertainty. also the global economic slowdown, if and when that could affect the u.s. economy. also we're looking to see if there are any hints in the speech talking about if he supports a rate cut or not. now i spoke with the host of this event, kansas city federal reserve president esther george who said that she indicated, she hinted she might not support a rate cut at the next meeting. because she believes right now the fed is meeting their mandate of low unemployment and stable prices. >> as i look at it we're going to get a number of data releases between now and the tile of our next meeting. i want to take all that information in. i think that's really important to understand how those will influence our conversation at the september meeting. and to be honest, i always want to keep my

to edward lawrence, who landed the big interview live in jackson hole, wyoming. edward, what is the anticipation right now on what powell will say? reporter: well, liz, you know, i know how you love newspapers. the anticipation is not in the jackson hole daily. the big story here is they are removing juniper trees to help the sage grouse in the west. all eyes on this resort right now. all eyes are on this financial resort here in jackson hole, wyoming. kansas city federal reserve president esther george says that consumer spending is the reason this economic boom is happening. she's a voting member of the committee that sets the federal funds rate. she says that right now, the federal reserve has met their mandate, that they have low unemployment and prices are stable. last week, we had an exclusive interview with jim bullard, the st. louis federal reserve president, who advocated for rate cuts, more accommodation to get inflation back to their target range. esther george this morning hinting at the fact that maybe she would not support rate cuts going forward be

here to break down the numbers, from the white house is edward lawrence. reporter: charles, a phone call between the two trade delegations this morning set all of that off. the u.s. trade representative's office said, yes there will be 10% tariffs on basically everything else the china i am poverty into the united states with the catch, there are a groupings of items, some 21 pages of items will be exempt from that, or delay the tariffs until december 15th. these are items we're talking about. groups like laptops, cell phones, videogame consoles, toys and some clothing. we're also talking about athletic shoes in the clothing. nike was very concerned about the round of tariffs. so was under armour. the delay gets them through black friday, most of the holiday shopping season. president trump still frustrated he says that the chinese haven't followed through with what they promised him back at the g20 summit, that is buying agriculture. listen. >> they said they would buy farm products. so far they have disappointed me with the truth. they have not been trut

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 balance

. >> edward lawrence is at the white house with the latest on how economic experts say your wallet could be impacted by this. >> reporter: markets opening wednesday amid uncertainty. the president's decision to delay some chinese tariffs until mid december initially creating a surge tuesday, as stocks climbed more than 400 points in mid afternoon trading. but this morning the market taking a plunge as economic data in europe and raise i can't signaled the possibility of a looping recession worrying some investors. >> i think the market should be really happy about what happened yesterday. you have certainty now about how things are going to unfold. >> reporter: still the tariff delay bringing some economic relief after weeks of trade tensions between the u.s. and china. >> it looks like the trump administration wants to save christmas. >> reporter: products that could benefit from the tariff delay including cell phones, laptops, shoes and clothing. >> no matter what the white house guys say every week, it is american companies and consumers that are paying for those tariffs. >> reporter:

fox business's edward lawrence live on the scene with the latest. edward? reporter: market liking what is coming out of the white house. delay on some tariffs. it will be until december 15th. u.s. companies can still sell to huawei for now. as you mentioned the u.s. ambassador to china here at the white house for a meeting with the president. talking about relations and hong kong. the administration sending huawei a lifeline. u.s. companies can sell to the chinese companies for at least 90 days. the commerce second saying that will be it, unless a special new license is approved. 35 companies are going through that process right now. the vice president saying the administration is following a plan on china. >> president trump believes china wants to make a deal. but as the president has made clear, it has got to be a deal on our terms. because china has had it so good for so long. things have to change. reporter: the vice president saying china has broken every deal they made with the united states. this administration now saying no more. >> over the past 1

thanks, edward. edward lawrence. >>> uber and lyft, off to the races. with the closing bell ringing in 48 minutes, the ride hailing leaders moving in tandem to the upside in trading today after lyft gave quite the guidance boost. but will uber be able to break away from its closest competitor after the bell when it reports its latest quarterly results? no, i didn't say earnings because it's probably going to report a loss. susan li has a preview of the next lap in this market indy 500. >>> later, the businesswoman who battled bankruptcy, a stay in prison and cancer to make a triumphant comeback. reality queen and star of "dance moms" abby lee miller in a fox big exclusive when "the claman countdown" comes right back. (vo) the ant mindlessly marches on. carrying up to 50 times its body weight. it never questions the tasks at hand. but this year, there's a more thrilling path to follow. (father) kids... ...change of plans! (vo) defy the laws of human nature... ...at the summer of audi sales event get exceptional offers now! (groans) hmph... (food grunting

edward lawrence is live at the white house. edward, let's talk about china first, because yesterday, we saw what china's idea of retaliation to the president's call for september 1st tariffs look like. what more are they talking about? what are you hearing? reporter: china has some options in the bag. the big stick for them in their bag is talking about rare earth minerals. the chinese supply 80% of the global market with rare earth minerals and there's some fear that the chinese could limit exports of those minerals there. in fact, recently within the last couple of months, president xi jinping visited one of the largest rare earth minerals exporters and producers in china there. now, limiting the exports could hurt u.s. technology, we are talking about those minerals in everything from cell phones to radios and also watches, smart watches. china could also retaliate against american companies in china. specifically, they are working on their own entity list, that is that blacklist, where you can't buy or sell from anyone if y

sources in beijing are telling fox news -- fox business networks, edward lawrence that china is hammering out a plan right now to retaliate. good evening, edward. >> shannon, a lot of movement within china. signaling this could be a prolonged trade dispute. the chinese sources are telling us that they are expecting 10% tariffs on an additional $300 billion to be imposed on september 1st. those sources are also telling us to believe that they are preparing for 10% tariffs to go to 25% because china refuses to buy u.s. agriculture. the chinese government officials are at an annual government retreat where our sources are saying they're working on ways to retaliate that will not affect china's economy. the one idea being considered is to further support government companies and support foreign companies in china, just not from the u.s. still, the chinese economy slowing, president donald trump looking at that and believing the chinese will need a deal. >> thousands of companies are leaving china now because of the tariffs. and we are in a very good position. as to whether or not a deal will

let's get right to edward lawrence with the recap at the white house. the president just said it, edward. reporter: some 23 minutes, the president. we have come to expect this from the president as he's leaving. took questions on a whole range of topics but first and foremost on his mind was the hurricane that's bearing down on florida. he said with dorian, he's going to get updates while he's at camp david. he said it's a little too soon right now to say that the state should be evacuated or what parts of the state need to be evacuated but he's going to be looking at that. the president also saying he's going to come back on sunday because he has meetings here in washington at fema talking about dorian again. the president did declare florida a national emergency or approved the national emergency declaration for florida. that puts fema in the position to help out. he also talked about tariffs. the president talking about china, saying that tariffs have put us in a good position to negotiate. it's really important things that he's talking about there.

connell: edward, thanks. edward lawrence at the white house. gerri willis is next up on the floor of the new york stock exchange. great day, obviously, gerri for stocks. what type of vibe did we pick up on the floor? reporter: this is great stuff. everybody is talking about the china comments you mentioned before. companies like intel, caterpillar, doing better. why? because they rely on china for a lot of sales. they are higher today doing very well indeed. jpmorgan chase i want to mention before i go to other stocks. financials doing better as a group. that yield curve situation correcting itself a bit. that is meaningful for bank stocks. as you see here doing much better. other dow winners, ups, home depot. here is story you might not have considered. home depot doing better because of the threat of the hurricane. hurricane dorian threatening the u.s. high every sales for home depot in terms of lumber, in terms of anything they sell there. that will be good for them. they're up 2.4%. a lot of reason these stocks are headed higher. the main t

stuart: edward lawrence, on top of it. thank you very much indeed, right there with the news as it is happening. i want to bring in danielle dimartino booth, former fed advisor. danielle, spell it out, you just heard edward lawrence, you spell it out in plain english what is chairman powell telling us? >> i can't do plain english, but i can tell you said the word eventful, stu. he said the last three weeks, since the fed met have been eventful for markets. he specifically cited chinese tariffs. hawkish rhetoric from the likes of boston fed president rosengren that the fed has done enough to address. the trade war with china seemed to be slightly retaliated by what powell said in this speech. on the other hand of course he mentioned unemployment still being very strong. so he is, he is speaking, in a very balanced way. but again he is made note what, how much transpired in the markets over these past few weeks. i think that is friendly. stuart: we all have to read the tea leaves here. we have to interpret what he is saying.

edward lawrence live from jackson hole with the latest there. what was it like when the tweets started to hit the fan? reporter: things got a little more serious here in jackson hole. they have a level of independence separating from the president, they are responsible or acted upon by congress. they have their mandate from congress. federal reserve chairman jerome powell said today that the federal reserve will act as appropriate to sustain the expansion. now he did not lay out the case for long term deep cuts. that set off president donald trump on twitter. the president saying on twitter, that they have a strong dollar and a weak fed. then asking who is a bigger enemy, jay powell or chairman xi? the president wanting rate cuts to take on china a trade dispute. powell says in the speech there is no precedent to integrate trade uncertainty into monetary policy. he is saying there is no clear path forward to incorporate cuts in the middle of so many trade disputes. powell adds that the fed is watching closely specific global events, what is happ

neil: edward lawrence on the latest what the chinese are doing and saying. edward? reporter: here we go. again, the chinese must be reading the president's twitter feed overnight in china there. now it appears the chinese state media is now reporting that china is going to suspend the exemptions they have offered to buy agriculture from the united states. they had originally given some tax exemptions. the tariff exemptions, on the imports of certain agriculture, soybeans being one of those. now the chinese saying they are going to back off that, they are not going to honor those exemptions, they are going to withdraw them as of august 3rd. they are also reporting, chinese state media is also reporting the chinese have told their government entities not to buy u.s. agriculture from the u.s. that has a lot of the private entities in china sort of pausing at the moment to see hey, what should we do as this all shakes out. but the big news here is the exemptions that china was going to offer on the tariffs are now looking like they are going to be rolled back, and that

let's begin with edward lawrence at the white house. edward? >> president donald trump lighting a fire under president xi jinping for these trade talks. he of the giving a deadline for tariffs. chinese sources are saying the directive is to decouple from the united states. that is buy from other sources. also build stuff or make it in china that they would byte otherwise from the united states. chinese sources tell us they refuse to add back tonight concessions removed from the trade agreement, and want the u.s. to trust china that they will protect intellectual property rights. china will not budge on the text and they will not change their laws. chinese imports will start at 10%, but the president hinted they will not stay at 10%. president trump: i did more than anyone thought on the first $50 billion. i can do much more or less. with respect to a deal. but they will pay a tariff. reporter: the president saying during the g20 the chinese agreed to buy more agriculture from the united states, and that has not happened. there is another meetin

edward lawrence at the white house with more. edward? >> president trump signed a limited trade agreement. this agreement does a number of things. the first thing it does is give president trump a victory on a partial trade deal. it allows u.s. ranchers to be competitive in europe. it guarantees the u.s. shaffer exports in the marketplace and resolve the long-standing issue with the wto. president trump: we love our farmers abarran muchers. with this announcement we take one more step giving them the level playing field. they have been looking forward to this for mani' many years. they want a level playing field. that's all they want. reporter: the administration in the middle of a larger trade dial with the european union. the european union does not want to add agricultural in that deal. the united states want agriculture in any deal they do with the european union. they hope the deal signed today helps nudge the greater deal along. the president signed the deal pausing the debt ceiling until july 2021, increases spending on the milita

edward lawrence in washington night with the story. >> the new rules posted online by it immigration and citizenship services without fanfare. they talk about residency and how to establish residency. it outlines how children born to citizens outside the united states are not automatically considered the citizens. temporary visits tr to the united states -- to the united states do not establish residency. a citizen born in the united states generally meets the citizenship requirement as long as he or she can prove that the mother was not transiting through the united states. those parents would have to apply for citizenship unless the parents establish residency. this apply towvments s. military and government officials who work in embassies around the world. it would stop women from coming across the border to give birth. it will likely be challenged in court. lou: as we are used to. the yield curve inverted again, but investors not excited at all. the dow up 258 points. the nasdaq up 30. two weeks ago, much if not most of of the leftist media and business press panicking over the i

lawrence. edward, good morning. >> reporter: good morning, cheryl and lauren many. president trump lighting a fire under president xi-jinping for the trade talks. he set a september 1st deadline for the next round of tariffs to be imposed. chinese sources in beijing are saying that departments have been directed to decouple from reliance on the united states, replace what they buy from the u.s. with other sources or make it in china. chinese sources are telling us they refuse to add back in any of the concessions removed from the trade agreement and want the u.s. to trust china that they will n force intellectual property rights. china will not budge on the text of the agreement and will not change their laws. president trump saying that the tariffs on the next round of $300 billion of chinese imports will start at 10%, hinting they may not stay at 10%. >> i did more than anybody thought with the first $250 billion and the 10% is for a short-term period an then i can do much more or i could do

dow sold off and nasdaq down 155, s&p fell 45, edward lawrence with more on the story from the white house. reporter: the federal reserve cut rates a quarter of a point. but not everyone in the room who was voting was happy about it. there were two decenters, boston federal reserve president, and kansas city federal reserve president, they thought that fed fed funds rate needs to stay where it was. in end federal reserve chairman powell said it was nothing within u.s. economy domestically that called for a rate cut. to your point this afternoon, federal reserve say the in light of implication of global development, they are making the rate cut, that would include other central banks in the world siding stimulus to their economy. fed to chairman saying that weakness in manufacturing and business investment goes to perception that tariffs are bad for the economy. he adds it will not be a be a lg period of rate cuts but also not one and done. >> do that if you saw real economic weakness and you thought that federal fund rate needs to be cut a lot. that is not what we're seeing, we're se

liz: edward lawrence is here with more. >> the president is going to honor the victims of the shooting there, he'll meet with victims' families and the survivors of the mass shootings. the mayor of dayton, ohio not thrilled with the president's visit. >> he's made his bed and he has got to lie in it. his rhetoric has been painful for many in our community. and i think the people should stand up and say they are not happy if they are not happy. >> the white house pushing back all day with the fact democrats are saying the president's rhetoric is responsible for these shootings. administration officials pointing out the dayton, ohio shooter posted on twitter some far left views. the president today saying that he'll protect the farmers because china made the announcement they will not buy any u.s. agriculture from farmers. there could be a bailout. so far the government has earmarked $28 billion to help farmers the past two years. the white house economic advisor said targeting the president's voter base will not work. >> the chinese delegation preparing for a trip in september. china sa