tv The Intelligence Report With Trish Regan FOX Business June 28, 2016 2:00pm-3:01pm EDT
it is now only 143. market bouncing back after losses last couple days but the other thing is donald trump. we're waiting for trump speech supposed to be on trade. there are a lot of other news items going on today, in pennsylvania, the key battleground state of pennsylvania. to take you through it all, trish regan. trish: breaking right now, we're waiting on donald trump as the dow climbs 142 points, rising after a brutal two-day selloff. we're off the highs of the session there. is big question whether or not the market recovery we're seeing is actually real or whether or not there is some kind of a global slowdown, even a systemic crisis looming ahead. we're all over it. i'm trish regan. welcome to "the intelligence report." the market is up 142 points. nasdaq up 66. this comes on the heels of course of european markets rallying today, rebounding after being slammed really badly last
couple days. take a look there, ftse 100 up, and dax in germany trading up nearly 200 points. so we are watching right now, all of these markets and asking the question about, whether or not this is simply an overreaction to britain's decision to leave the european union? or whether or not there is something more here. tell you, nigel farage in an exclusive interview with me, the leader of the uk independence party thinks you know what, it is all overblown. everything is going to be fine. watch him here. >> this hysteria about markets, let's end that. that is rubbish. trish: before we end it, i was talking to people who said, you know what? london is no longer going to be a financial center for europe. your response? >> oh, please. please. please, please. london is not a financial center for europe. it is a financial center for the world. europe is becoming a little
backyard. 85% of the global economy is not in the european union. trish: of course, you know, he is kind of got to say that, right? meanwhile other analysts predicting we go back to the growth levels in uk and elsewhere in europe not seen since the 1970s. so which is it and how seriously should you be taking the selloff we saw and rally we're looking at now? art hogan, wunderlich securities and rob blackwell, london bureau chief for the american banker. good to see you. you predicted bad things would happen should the "brexit" materialize. they did. maybe they could be subsiding. should people come in at this level or is there more pain to come? >> there is more volatility, trish. in markets do, they overshot. we lost 3.$6 trillion in global assets on something we have no answers to.
the more answers we get, is article 50 delivered now or september or ever? what that means. how will negotiations go. right now i think we're working our way back, to the dow being down 800 and back up 150. probably more appropriate response. more we learn, the worse this will seem. right now i think volatility will be the norm, not exception for period of time. trish: what about this for us, rob? one would have to assume the world will still trade with the uk. you might have interim period as they work out the new trade deals that are challenging. not all of sudden people saying we'll not do business in london anymore? >> that is true. impact in the u.s. will be limited. mortgage rates going down because the fed not likely to raise interest rates. there are impacts obviously globally in london. some big banks in the u.s. will have to restructure a little bit. i don't mean to say a little bit they ignore london but to disagree with mr. farage, a lot
of banks see london as gateway to europe and that will change as britain goes through with it. trish: in way? bankers packing up suitcases and heading to europe? they certainly can't go to france because nobody works in france? >> good point. frankfurt is a possibility. when you look at it, a memo from jamie dimon last friday. he sent it out to his employees. there are 4,000 employees there in the uk. look, we may need to make changes. we're still sorting it all out. there is a lot of uncertainty. trish: we know markets don't like uncertainty, art hogan. when does uncertainty catch up with the market in a way none of us like? >> i think part of it has. largest reaction is uncertainty. in and of itself, uk lifing eurozone shouldn't cause as much uncertainty, is italy raising their hand or are they next? that is a concern. if this comes to fruition,
europe will make a ugly divorce so that no one wants to do this -- trish: stop for a second. that is important. you say the eu will make it such an you cannily divorce it is basically seen as example what not to do, thereby discouraging italy, portugal, spain potentially following suit. what does that do to the uk in the interim? >> in the interrim make as negotiation process more difficult. we're simply walking away and business as usual. we'll have to fight for everything they get. the process will not be painless. remember, these guys are important to each other. they're more important to each other than they are to us, right? at end of the day, as you said at beginning they will continue to do trade. but they won't make the process look like it is easy. i think that is the, and we won't know how that goes until the fall very least. trish: big question looming out there for everyone, right, is this systemic triggering event? are you we'll going to see a real problem in the banking system? certainly you look how they
traded recently, the european banks. that was problematic. is it going to be a problem such as what we saw in 2008, rob? >> it doesn't look like it right now. we haven't seen the, granted things are volatile and doesn't like uncertainty but u.s. banks have way more capital and liquidity than -- trish: i don't mean u.s. banks. i mean actually european banks. we were looking at the european debt crisis, every summer, right, for the last five years it seems, this thing brews up. just last summer you had greece on the verge of total chaos there, with people protesting in the streets, throwing poll tiff cocktails. here we are coming up on this summer and uk saying bye-bye. just seems as though every year it is something and so i wonder at what point can the european banks themselves not take it anymore? i mean, at what point do we reach a threshold when it suddenly turns into a systemic event?
>> i agree obviously when you're looking globally european banks are in a more challenging environment but you have to remember, one of the big differences twine the u.s. and europe is, in the u.s. we don't want to prop up banks. we did in 2008. we bailed them out. we do not want to do that anymore. europe has culturally a lot less issues bailing out banks. they tried to put in place some ways to prevent that from happening. they're a lot less concerned about too big to fail than we are. trish: thank you very much. art, rob, good to see you guys. want to point out to viewers, everyone, donald trump will be speaking any moment now. he will be speaking in pennsylvania. he is expecting to accuse china of manipulating its currency. this comes as the bank of england is pumping over $4 billion worth of liquidity into the country's banking system following the decision to exit the eu, all in an effort to prop up its currency. how will trump's accusations
affect our fragile markets. we have mark smith, and on the phone, stephen roach, former head of asia at morgan stanley. trump will tell us china does not play fair. does very a point? >> he is right. china is a currency manipulator. everyone is currency manipulateter, europe, united states. we'll be talking about this five years from now. trish: just back up for viewers, you say everyone is a currency manipulator because we're willing to print a little too easily? you think what we did in the united states thereby depressing value of our dollar? >> the problem in the world today, trish, too much, enough growth. how do you get growth if i can't get it from productivity, you steal it from trading partners. the world is taking turns. 2010, cheap yuan, 2011, cheap
dollar. 2012, cheap yen. 14-15, china. trish: everybody is doing it. china is guilty as rest of the world doing it. how do we get an advantage over china right now? we want to make sure that the u.s. is productive but right now seems to be coming at its expense? >> this is the shanghai accord latest in february. they're trying to maintain peg between china and u.s. and cheapen the dollar. we get advantage via japan and europe. we're trying to have inflation with higher import prices. u.s. has a net trade deficit. japan, they will not intervene. they have been told not to. they have been threatened by lagarde and jack lew. they're not going to. i see the yen trading through 100. trish: mark as we look forward to donald trump speaking about china, this is an issue that obviously resonates throughout america right now because people have seen their jobs disappear, if to china but someplace else
overseas. how do we regain an edge? >> the easiest way to gain an edge in an economy take the barnacles off it. lower taxes. remove as many lawyers from the business process. reduce number of regulations. do all the things that the barack obama legislation has not been doing, not friendly to business. i frankly think the way to view this, trish, i like to use example of the lawn. american businesses and american economy is like the lawn. if you simply remove the rocks of regulation and taxation, the lawn will grow. what has been going on with this administration unfortunately for the last eight years with, he keep putting in rocks and rocks and rocks on the lawn preventing from growing. that speaks to that same issue. i think it is major component of it. i think it's a major component of it. trish: at same time you have got china willing to steal our intellectual capital. that is, you know, employing people at much cheaper rates.
how do we compete in the global environment when china is so far ahead of us in terms of the cheapness of its labor and the capital it is willing to put forward to grow its economy overall? >> but, trish, no one really wants to do business with china. no one really wants to do work in china. let's be clear about that. trish: why not? they have a billion people. of course you want to be there. >> no the reason why american businesses make the choice to leave the midwest to go over to asia is because they can engage in labor arbitrage and environmental arbitrage and basically cost of production is cheaper. one of the ways to fix that is to basically make the production of jobs, the creation of jobs, less expensive than it is currently in the united states and major way of doing that is with regulations and taxes. get rid of red tape and people will stay in the united states and not go overseas. trish: i have mr. roach on the line and i want to get his thoughts on that. stephen, where are we at a
disadvantage when it comes to the trade deals that we've negotiated with china? >> well, trish, i think, rather than view this as a one-way adversarial relationship where china is robbing us of our economic livelihood, i think we need to take a long hard look in the mirror. we run trade deficits last year with 101 countries, by higher math excluding china, that includes 100 because we don't save as nation. it is not about gardening or fixing your lawn as just alluded to. it is about sucking it up and moving away from excess consumption economy, cutting budget deficits which is exactly opposite of what donald trump is going to do and boosting savings we reduce current account deficit and multilateral trail imbalances with 101 countries including china. we need to negotiate on number
of issues you suggest, intellectual copyrights, and come on, this is donald trump mantra. let's blame mexico for drugs. let's blame islamic religion for terrorism and let's blame china for jobs. look in the mirror because i think some responsibility ourselves. trish: i heard a lot of good ideas in the way of okay, we need to do a better job ourselves and of course mark's point we needless regulation. jim, back to you for a minut if i'm making something here in the united states and i'm trying to export it anywhere in the world and i'm sending it over to china, if they're slapping a tariff on that good, my product is not as competitive in china as it otherwise would be. and if they're shipping things overhere and i'm not putting a tariff on it, then their products in turn become more competitive. yet we love all that cheap stuff we get at walmart from china. >> yeah. trish: how do we continue to
reap benefits of cheap goods but at same time we not destroy what we create here. >> there is non-tariffs barrier. japanese once banned french skis because they said japanese snow was different than french snow. a lot of ways to play the game. classic case, august 15th, 1971, richard nixon put 10% tariff across all imports. he didn't want a 10% tariffs. he wanted to get germany, francep to devaluate dollar. that is how i see trump. threatening tariffs not because he wants tariff but wants better deal on intellectual policy. trish: you have to talk tough, right. >> "art of the deal." absolutely. unfortunately out of time. good to see you all, thanks very much. >> thanks, trish. trish: british remembers dents, everyone taking to the streets in london today in support of the european union, in support of it but, you know that kind of sentiment is it a little too late? uk officials announcing they are going to have a new prime
minister, basically the train has left the station. we're going to be live from london next. plus we are still waiting on donald trump who is going to be speaking in pennsylvania. he is going to slam china for the bad trade agreements we've negotiated with them. we'll carry it live right after this. you guy's be good. i'll see you later
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trish: check out these markets. you can see the rally still going on but not as strong as earlier in the session. we're up 131 points. we'll take it, right? after couple miserable days it has been quite a ride for markets hear and overseas. a little bit of a recovery going on. meanwhile outgoing british prime minister david cameron arriving in brussels for a special eu
summit where he will announce his country is leaving the bloc. he is hopeful the meeting will be as constructive as it possibly can be. watch. >> we're leaving the european union we must not be turning our backs on europe. these countries are our neighbors, our friends, our allies, our partners and i very much hope we'll seek the closest possible relationship in terms of trade and cooperation and security because that is good for us and that is good for them and that's the spirit in which the discussions i think will be held today. trish: all of this happening as a protest in london broke out in support of the eu. we know a lot of people in london liked the eu. in fact london voted the other way. ashley webster is in london. joins me with the latest. hey, ashley. reporter: hey, trish. you could say that london is the center of the remain campaign. over my shoulder we're in trafalgar square at very center of london. a pretty large group, i say
maybe 250, 300 people plus a lot of curious and tourists trying to figure out what is going on. these people are very pro-e.u. they say the wrong information was given out. it was not democracy because the vote ended up, ended up the wrong way. you know what, trish? england lost because, i love to have that game replayed. trish: donald trump is speaking. let's listen in. he is about to sound off on china and trade. here we go. >> i have to say all the amazing workers, gabe said they're the most important, the amazing workers. [applause] i know you've been through some very, very tough times but we're going to make it better and we're going to make it better fast, okay? just watch. [cheers and applause] so, today i am going to talk about how to make america wealthy again. have to do it.
we're 30 miles from steel city. pittsburgh played a central role in building our nation. the legacy of pennsylvania steelworkers lives in the bridges, railways and skyscrapers that make up our great american landscape. but our workers loyalty was repaid, you know it better than anybody, with total betrayal. our politicians having a aggressively pursued a policy of globalization, moving our jobs, our wealth and our factories to mexico and overseas. globalization has made the financial elite who donate to politicians very, very wealthy. i used to be one of them. [applause] hate to say it, but i used to be one. what it has left millions of our workers with nothing but poverty and heartache.
when subsidized foreign steel is dumped into our markets, threatening our factories, the politicians have proven, folks, have proven, they do nothing for years they watched on the sidelines as our jobs vanished and our communities were plunged into depression-level unemployment. many of these areas have still never recovered and never will unless i become president. [cheering] then they are going to recover fast. our politicians took away from the people their means much making a living and supporting their families. skilled craftsmen and trades people and factory workers have seen the jobs they loved shipped thousands and thousands of miles away. many pennsylvania towns, once thriving, and humming are now in
a state of total disrepair. this wave of globalization has wiped out totally, totally our middle class. it doesn't have to be this way. we can turn it around. and we can turn it around fast. [applause] but if we're going to deliver real change, we're going to have to reject the campaign of fear and intimidation being pursued by powerful corporations, media elites, and political dynasties. the people who rigged the system for their benefit will do anything, and say anything to keep things exactly the way they are. the people who rigged the system are supporting hillary clinton, because they know, as long as she is in charge, nothing's going to change.
the inner-cities will remain poor. the factories will remain closed, and the borders will remain open. the special interests will remain firmly in control. hillary clinton and her friends in global finance want to america into thinking small. and they want to scare american people out of voting for the better future and you have a great future, folks. you have a great future. these people have given her tens of millions of dollars. my campaign has the absolute opposite message. i want you to imagine a much better life and a life where you can believe in the american dream again, right now you can't do that. [applause] i want you to imagine how much
better our future can be if we declare independence from the elites who led us from one financial and foreign policy disaster to another. our friends in britain recently voted to take back control of their economy, politics and borders. [applause] i was on the right side of that issue as you know, with the people. i was there. i said it was going to happen. i felt it. [applause] while hillary, as always, stood with the elites and both she and president obama predicted that one and many others totally wrong. now it's time for the american people to take back their future. we're going to take it back. [applause]
that's the choice we face. we can either give in to hillary clinton's campaign of fear or we can choose to believe again in america. [applause] very sadly we lost our way when we stopped believing in our country. america became the world's dominant economy by becoming the world's dominant producer. you know that from right here, right in this plant. [applause] the wealth that is created was shared broadly, creating the biggest middle class the world has ever known. but then america changed its policy, from promoting development in america, in, in, in, america, to promoting
development in other nations. that's what's happening and that has what has happened. we allowed foreign countries to subsidize their goods, devalue their currencies, violate their agreements, and cheat in every way imaginable. and our politicians did nothing about it. trillions of our dollars and millions of our jobs flowed overseas as a result. i have visited cities and towns across this country where a third or even half of manufacturing jobs have been wiped out in the last 20 years. today we import nearly 800 billion-dollars more in goods than we export. can't continue to do that. this is not some natural disaster. it is a political and politician-made disaster. very simple. it can be corrected and we can
correct it fast when we have people with the right thinking, right up here. it is the consequence -- [applause] it is the consequence of a leadership class that worships globalism over americanism. this is a direct affront to our founding fathers who america wanted to be strong, they wanted this country to be strong and they wanted to be independent and they wanted it to be free. [applause] our founding fathers understood trade much better than our current politicians, believe me. [applause] george washington said,
that the promotion of domestic manufacturing, will be among the
first consequences to flow from energetic government. alexander hamilton spoke frequently of the expediency of encouraging manufacturing in, in, in, the united states. [applause] and listen to this. the first republican president, abraham lincoln, will produce wants and ruin among our people. he understood it better than our current politicians. that is why he was abraham lincoln.
i guess. [applause] our original constitution did
not even have income tax. instead, it had terrors. not domestic production. after the revolution. we turn things completely upside down. we tax and regulate and restrict our companies to death. then we allow foreign companies back keep, export their goods to us tax-free. how stupid is this. how can it happen. how stupid is this. as a result, we have become more dependent on foreign countries than ever before. ladies and gentlemen, it is time to declare our economic dependence once again. that means --
[applause] that means voting for donald trump. [cheering and applause] i will do it. no doubt about it. not even a little doubt. it also means reversing two of the worst legacies of the clinton years. america has lost nearly one third of its manufacturing jobs since 1997. even as the country has increased the population. at the center of this catastrophe, to trade deals by bibill and hillary clinton. the north american free-trade agreement or the disaster called nafta did 22. china's entry into the world.
it is the history of this country. the entrance into the world trade organization. the greatest in the history of our country. hillary clinton supporting it. after he left office was unbelievable. it was also bill clinton who lobbied for china's disaster's entry into -- who backed the terrible agreement. then, as secretary of state, hillary clinton that i'll bleed while -- trish: we are getting this feed coming in from donald trump,
there seems to be some hits on the feet coming in. you can hear those malfunctioning errors coming in. let's listen back in. it seems like it is okay now. trish: unfortunately, the hits still keep coming. you hear donald trump talking about globalization. helping the elite at the expense of the working class. he pointed out that the elite have been helping the bankroll the campaigns of many politicians. chris hahn is joining me with his thoughts on this. i know that you are a big supporter of hillary clinton. making the point that politicians have completely failed us when it comes to these trade deals. doing so in the names of globalization. the links that are backing them. calling for it to be this way.
>> i think it is the simplistic view of what trade deals are. there have been some good. for the most part increasing employment in the united states of america. >> also built a lot of apartments. and condo buildings here in the united states of america. and a lot of those are made around the world. he made that claim. i am one of them, to a certain extent. i know how they work. it has to change. this is fascinating to me. though globalization will create a rising tide for everyone. the better it would be for all of us. it has not worked out that way.
people are frustrated and angry. go ahead. your thoughts. >> look at our recovery over the last three years. we have are covered at a much faster rate than the rest of the world. these trade deals have been bad. these trade deals may have been good. i am not saying that they are all good. >> there is a lot of protection for workers that i would add to these trade deals. just throw them all out here and they are all bad all the time. >> it makes it bad for american companies to compete with beards the feed is clean right now. donald trump. >> we fail to generate many given years. we also failed to create over 1 million jobs. what a waste.
what a sad, sad thing. [applause] the job creation deficit due to slower growth since 2002 is well over 20 million jobs. that is just about the number of jobs our country needs right now to put america back to work at decent wages. wages are very low. no competition and they will go up because we are going to thrive again as a country. [applause] the transpacific partnership is the greatest danger yet. it would be towards american
manufacturing. giving up all of our economic leverage to an international commission that would put the interest of foreign countries above our own. it would further open our markets to aggressive currency. cheaters. cheaters. that is what they are. they are not playing by the rules. they are cheating. it would make it easier to ship cheap subsidized goods into the united states market while allowing foreign countries to continue putting up their years in front of our exports which is what they do. it is very hard to export to their country. call monnin, everybody. come on in. bad leadership. leading the foreign practices that keep american cars from
being sold overseas. that is not all. mark my words. the back door at a later date. they are watching. they are studying. they are not in it now. by the way, if it is no good, they will pass. forcing to compete directly. vietnam. one of the lowest wage countries on earth. not only will they undermine our economy, but they will undermine our independence. that is what is happening. the tpp creates a new international commission that makes decisions the american people are no longer given the right. spending vast amounts of money.
it should be no surprise then. hillary clinton. the leading part in drafting the trans pacific partnership. please remember that. [applause] she praised or pushed the tpp on 45 separate occasions. hillary clinton was totally for the tpp. just a short while ago. totally against. she was shamed into saying she would be against that, too. and i will tell you, it was the same shame that she had recently where she was sort of forced into saying radical islamic
terrorism. did not want to say. she was shamed into that. [applause] but have no doubt that she will immediately approve it if it is put before her. that is guaranteed. guaranteed. she will do this. the american workers for wall street and thorough out. throughout her whole career. the american worker. they have disasters. never ever forget nafta. you know what it has done and i know what it has done. i have seen the devastation that it has left behind. here is how it would go. she would make a small token change. the choir at the pack and ram it
we do not need to enter into a massive international agreement. it ties us up and binds us down. a trump administration will change our sales trade policies and i mean quickly. thank you. seven steps i would pursue right away to bring back our jobs. i will withdraw the united states from the transpacific partnership which has not yet been ratified. [applause] i am going to a point the toughest and smartest, and i know the mall, trade negotiators
to fight on behalf of of american workers. [applause] i will direct the secretary of commerce to identify every violation of trade agreements a foreign country is currently using to harm you the american worker. i will then direct all appropriate agencies to use every tool under american and international law to and these abuses. abuse is the right word. number four. i will tell our nafta partners that i intend to immediately renegotiate the terms of that
agreement to get a better deal by a lot. not just a little. by our workers. if they do not agree to a renegotiation which they may not because they are so used to having their own way. not with trump. they will not have their own way. i will submit under article 2205 of the nafta agreement that america intends to with draw from the deal. [cheering and applause] number five. i will instruct my treasury secretary to label china a currency manipulator.
they cannot take unfair advantage of the united states. meeting with sharply. that includes terrorists and taxes. [applause] i will instruct the u.s. trade representative to bring trade races against china. at the wto. [applause] prohibited to the terms of its entrance to the wto and i intend to enforce the rules and regulations and basically i intend to enforce the agreements.
if china does not stop. american trade secrets. i would use every lawful resident, look how much this is so easy, i love saying this, i will use every lawful presidential power to remedy trade disputes including the tariffs concurrent with 201 and 301 of the trade act of 1974. section 232 of the trade expansion act of nine teams 62. when they say trade expansion, they are talking about other countries. they are not talking about us. there is no expansion. we get the joblessness. that is the way it works. not going to happen anymore.
president reagan deployed some of the trade measures when motorcycle and semi conductor imports threatened u.s. industry. his tariff on japanese motorcycles was 45%. his tariff to shield the industry was 100%. that had a big impact. a big impact. hillary clinton and her campaign will try to spread the lie that these actions will start a trade war. you are ready have a trade war and we are losing badly. badly. [applause] she has a completely backwards. she supported one terrible deal after another. from nafta to china.
it does not matter. no matter where she went. the american worker was her. you will be hurt worse than ever before if she becomes president of the united states. that i can tell you. [applause] ending that war. the air out. you will not see it anymore. i cannot guarantee it. after me, they will start guaranteeing it again. we will make sure we never go back. [applause]
>> thank you everybody. i appreciate it did a new era of prosperity. independent once more. that sounds great. [applause] under a trump presidency, the american worker will finally have a president who will protect them and fight for them. we will stand up to trade cheating. cheating. cheaters. that is what they are. we will stand up for trade cheating. anywhere and everywhere. it threatens the american job. [applause] we will make america the best place in the world to start a
business. we will hire workers and open factories. making it impossible to do business. [applause] this will also include massive tax reform to lift the burdens on american workers and businesses. getting rid of all of these rules and all of these problems and all of the pure rocker c which are destroying, absolutely destroying, our job creation capacity. the best in the world did now we're getting close to the bottom. getting close to the bottom. [applause] many people think that these regulations are an even greater impediment. the highest tax nations in the world. we are also going to fully capture america's tremendous
energy capture. this will create, for our workers, and that is what we want, our workers reducing our budget deficits which are massive did massive. trade deficits. we do not even want to talk about it. hillary clinton wants to shut down energy production. shut down the mines. she said it just recently. she wants to shut down the minors. i want to do exactly the opposite. [cheering and applause] a trump administration will also ensure that we start using american steel for american infrastructure. [applause] and a lumen am.
[cheering and applause] just like the american steel for pennsylvania that build the empire state building. that is what we are going to do. american steel that fortify america's crumbling bridges. it will be american steel. it will be american steel that sends our skyscrapers soaring. soaring into the sky. beautiful site. it will be american steel that rebuilds our inner cities. it will be american hands that remake this country. american energy. american resources.
[applause] it will be american workers who are hired to do the job. nobody else. american workers. we are going to put american steel and aluminum back into the back bone of our country. this alone will create massive numbers of jobs. high-paying jobs. good jobs. not the jobs we have today. we will create massive numbers of good jobs. trade. immigration. foreign-policy. we will put america first again. [cheering and applause] we are going to make america a wealthy again.
[cheering and applause] we are going to reject hillary clinton's policy of fear and terror policy of absolute nonsense. it is not working and it is grossly incompetent. we cannot take it any longer. we are not going to take it any longer. we are going to embrace the possibilities of change. we'll change. not obama change. real change. it is time to believe in the future. it is time to believe in each other. it is time to believe in america again. this is how we are going to make america great again for all americans. for all americans.
[applause] we are going to make america great again for everyone. i promise you, if i become president, we will be working again. you will be so happy. you will be proud of your president. proud. proud. proud of our country once again. i appreciate it did thank you very much. trish: donald trump promising that the error of economic surrender will be over shall he become president of the united states. talking about what he intends to do to get this economy going again. how to make us more competitive on trade. he outlined a 7.5 form including things withdrawing the united states from the transpacific trade agreement.
has not yet been ratified. i am joined by stephen maurer. starting first with stephen. looking into trumps economic proposals. walk us through some of the biggies in here. the secretary of commerce identifying every violation. how do you do it? more of a free trader than donald trump. a real anger that voters have. as he said very clearly, especially china. this idea of getting tough with china, i think that that is very appealing. i love what you said about our taxes done. we tax what we produce.
we do not tax what we import. i love what you said about energy. we should producing massive amounts of energy. trish: he also mentioned that he would label china a currency manipulator. get tough with china. basically take these cases to the wto. chris haun. this is the kind of stuff that plays from a political death. how does she combat this? a proponent of the president trade deal. >> you know what, i do not think that she thinks it is a perfect deal. it is funny. they are all against free trade. free trade is actually better. he will be for it, too, if he becomes president, which he
won't. the benefits of free trade far outweigh. countries that trade with each other usually do not go to war with each other. >> let me just point out. he said, he has a book out about currency wars. he said the problem with chi right now is they have old the labor and the capital. we also have the labor. what do you think about that. unchartered territory. they have the money. they have the people. they have the cheap labor. much harder for us to compete in that environment. >> our trade arrangements with china working very well for the american worker. i think what the american people want is someone who is tough at the negotiating table with china. that does not mean that we will cut off trade with china.
only if they start opening up our markets. >> how unnerving do you think that this makes china right now? you know that they are watching. they are not nervous if they are looking at the polls. and maybe one that plays mp or you did the message is flawed. the man was making -- trish: the message is going to resume. you just do not like you it is coming from. >> new york city or l.a. i think about my husband's hometown mayor. outside buffalo new york. once a thriving community in the 70s and 80s. they went elsewhere. the community has been devastated i that did. >> inc. about where he gave the
speech today. whichever candidate -- trish: i have to run. neil cavuto today on fox news. i will see you there. 4:00 p.m. . liz: declaring economic independence for america, blasting the north american free trade agreement. tpp, the world trade organization, china and hillary clinton. we'll take an in-depth look but arguably one of his strongest speeches, whether you agree with what he said. we've got british brexit
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