tv Cavuto Coast to Coast FOX Business June 10, 2019 12:00pm-2:00pm EDT
ashley: picking up from last week. stuart: it is, nice gain last week, dow up 1100 points last week. look at it go now, s&p straight up too. what a day. neil, it's yours. neil: deals out of the blue, north of $60 billion worth of deals, stuart, thank you very much, we are following all of that. markets positive, last-minute deal with méxico before tariffs would have kicked in, united technologies and rathion, second largest air space behind boeing and better than 50 billion-dollar deal, but again, the focus seems to be on china right now after the méxico deal and what that could mean, we have blake berman at the white house, we have a read from edward lawrence on capitol hill.
blake, the president has made it clear that he thinks it's in china's interest to put it mildly to score a deal and soon? >> yeah, that was in an interview today, neil, he made it seems if there's not a meeting between president xi and himself at g20 later at the end of month the tariffs would go into effect immediately. they say it will happen. the plans are having for the president and president xi to meet. i guess, we will see, neil, at the end to have month when both will be in japan for the g20 meeting. as for méxico, of course, the deal and méxico to sure up southern border, the president has held that as win and critics
like chuck schumer, the president backed out because of heat taken from business community and republican who is did not want to see tariffs go into effect. the president reacting over to new york times story which said that much of this had been in the works for quite some time and here is what the president said to that, quote, we talked about it for months and months speaking of méxico and they wouldn't get there and we just said, hey, if you don't get there, we will just have to charge you hundreds of billions of dollars in taxes. he also defended the threat of tariffs by saying if we didn't have the tariffs we wouldn't have made the deal with méxico, clearly, neil, the president who has said for a while now that tariffs work, thinks tariffs worked in this case and now continuing to threaten more tariffs against china if the meeting of the two men on the screen does not happen at the end of the month, neil.
>> blake berman thank you very much, my friend. the pressure that blake alluded to on china right now, he's already said in the interview if the chinese president opts not to be at g20 summit in tokyo later this month, he will implement the ta i have -- tariffs, we are not there yet, edward lawrence, edward. >> méxico agreement actually gives the administration a little wiggle room, some extra to saying it allows the administration hey, look, if you come to t with good faith and deal could be worked . >> méxico took the president's tariffs seriously and starting to take enforcement at southern border seriously. this is important to both countries. we now have méxico doing more than democrats that work behind me on capitol hill on securing southern border. >> kellyanne conway says if you come with a good deal, good-faith deal you could make a deal with the administration but
democrats not wanting to work it out, as far as the white house is concerned, a deal is a deal, whether you're talk about a country, company, or politics, now in an interview on another network the president said that the chinese president xi jinping wants to make a deal with the united states, he calls him great man and great friend but earlier steven mnuchin met central bank governor, it was at g20 finance leaders' meeting in japan. mnuchin says that there are similarities between where we are now and where we were december 2018, before the last g20 meeting of the two presidents. mnuchin points out that president trump was able to make a breakthrough then and hopeful that he will have come to same breakthrough at the end of this month. the two presidents can get right to the agreement that's great otherwise president trump is happy collecting all of the tariffs. >> we pay the tariffs.
reporting as as usual. interesting take that people forget. whatever we are doing on china has universal bipartisan support even with the democrats who were ripping the president on the méxico thing and just making a big deal out of nothing. wall street journal on the oddity, what do you make of that and why that is the case? >> well, in both parties you had mounting frustration about trade with china, proceeds president trump and it's not partisan and it's not narrow, it's pretty broad base, cost lots of businesses and agricultural exporters, they don't think the chinese play fair, you have to distinguish between attitudes across partisan lines with china. differences are tactical. democrats think that approaching china and being tough about it, by the way chuck schumer who was mentioned earlier, good indicater of that, they think that's fine, they are disagreeing with president trump, look, why pick fights with canada, méxico, eu, south
korea, let's put those aside and focus everybody's attention on china which we agree with you on is the big problem. neil: jerry, maybe you could be arbiter on this, what many are saying nothing new here, mexicans have conceded and working on this for months, the two countries, my point of a deal, maybe they haven't talked about this back and forth over month but to get crystallized took threat of tariffs is what the white house is saying, the chinese can see. what's the truth here? >> well, i think there's truth on both sides, sounds like mouth answer, there has been conversation of elements of china trade deal, it's true that it habit been crystallized and that's the reality, deal that puts pieces together and put them down on paper. i think the bigger question may be less looking backwards, what's new and what's not new, how enforceable is this, how
much mexicans live up to it. much bigger question than the debate about whether it's all new, none of it is new, that's interesting but i think in terms of what the meaning here is less important to what happens going forward. >> there's concern among republicans you know, jerry, if the president uses the leverage trade as weapon on something that doesn't have to do with trade, just opens the door for future presidents, democrat or republican to do the same thing, they mention joe biden, climate change initiative, if other countries aren't on board he could do the exact same thing, what's the fallout from this? >> i think the whole legitimate concern. i wrote a column a few weeks ago, not just tariffs but using economic center that's not favorable and friendly for other people to take part in and start looking for other markets and
places to do financial business because the u.s. looks as if it's mingling economics, business and politics a little bit too much. that's a legitimate concern. that goes back to obama administration when economic sanctions were used widely as well. is there a trend line that will make the u.s. less attract ifer as place to both do business and where you should see international financing done and alternatives, is china alternative or eu alternative or other market that is could emerge, i think that's a legitimate concern. neil: real quick back to china, we started the notion that chinese might view how we dealt with the mexicans to come to the conclusion at any second you could change your policy, at any second you can change your approach so we can't trust you. >> look, the chinese are getting the message, if what i'm saying is correct bipartisan support behind what the president is trying to do with china, that's the message chinese will take away here, look, this is not just president trump, this is a broad-base american concern right now.
neil: all right, love the article, love having you on, thank you very much, washington editor of wall street journal. meanwhile méxico is promising to made good on what it promised to do deploying 6,000 national guards in southern border, namely along the guatemala order, pacific ocean, yuma republican mayor on what happens on all of this, we need to prove to do what they say. >> méxico has a real invested interest on this relationship with the united states and they are not going to look to strain that any much more than he would tolerate. the president taking a hard stand is good because it showed that he understood the importance and does understand the importance of what this immigration crisis is calling for us but working with méxico's partners is much better than position than adversarily.
>> those who make their way to your city, how -- how would you break them down, i mean, this really targets central americans, notably guatemalan go to méxico and penetrate our border, penetrate your town. how many of them are nonmexicans? >> almost all of them are nonmexicans, for the most part they are all central americans, family units, there's always a minor with them, whether one parent or two parents or multiple kids. that's the demographic. we are dealing with an influx of family units from central america. >> so part of it is also involving where we grant asylum hearings for those seeking asylum in the country and that they'd have to chill out in méxico, how would that affect you rather than having to be waiting for trials or revisits with justices on this side of
the border? >> whole process where people would come through being in the united states until hearing, they would actually stay in méxico, takes people away from being processed by border patrol, takes people from being released in community, all those steps are positive steps and making sure that the influx is kept in check while honoring asylum claims. >> mayor, thank you very much. >> thank you. neil: meanwhile big merger to tell you about, leading all the broadcast right down the united technologies, all of a sudden they want to become defense industry, talk about global behemoth, largest companies on the planet, then what after this?
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neil: some stunning news to share with you, stunning because i don't think details of the scope is what we expected that the justice department after weeks of intense negotiations have decided to provide congress with some of the key evidence in the bob mueller report that could shed, could shed light on possible obstruction of justice charges that were brought up in that report, now, among the incidents that are included are the president's attempts to fire
bob mueller, the special counsel, request, fraudulent record denying that incident, white house has since said it never happened and mr. trump's effort to undo recusal of special counsel inquiry, how much of this gets passed along to committee and how much of it they use that committee and how significant it is on obstruction related charges in that committee, anyone's guess, just letting you know that the justice department is providing some of this material to the committee and nadler, head of judiciary committee said to be quite pleased. in the meantime raytheon, united technologies, biggest deal of the year, susan li has the details. very exciting today. >> that's right, big deal, mega mergers are back, biggest deal of the year, 100 billion plus in
valuation of combined entity, revenue $74 billion each and every year. there are questions as to the timing of this merger because we have united tech, also off loading different units, elevator business and carrier system's business, billion dollar companies on their own and some are thinking is this really the right time for them to be con combining with raytheon after raytheon makes tomahawk missiles, they provide parts, landing gears and other parts to planes, exactly an antitrust situation, looking at companies saying no but the markets has to see and say not 100% sure at this point especially with president trump this morning commenting on this
100 billion-dollar tie-up saying this creates monster supplier which means they have control and aren't that many players in the space, there might be a bit of a concern as to whether or not this merger ultimately gets through, but look, if they are playing against boeing, largest air space and defense company in the world, especially when it comes to revenue, boeing going through own problems with 737 max, looks like they might concern with big player like this, interesting that there was no takeover premium in this, it's almost 50/50, no extra bargain price for the buyer and the seller in this case, merger of equals back to you. neil: thank you very much, susan li, combined company that would be called units technologies if it comes to pass. economy that might be little less vibrant still putting the federal reserve on the spot to
cut interest rates sooner rather than later. u.s. policy strategist, greg and chief strategist jared, gentlemen, welcome, everyone seems to say according to prominent newspapers, not matter of if but when. >> after late june g20 summit in japan, probably get a mid in late july and maybe another one in december and i have a conspiracy theory, as long as the president talks about tariffs the markets stay jittery, in the markets stay jittery leading to concerns about the economy, the fed stays very accommodative, trump gets exactly what he wanted and that's fed rate cuts. >> jared, let's say we have a cut in july, do you think we will have another cut? >> yeah, i do. i think there's 85% chance of two rate cuts, 50 basis points
in total. i actually think to the point the tariff talks continue, no resolution in g20, we see the china trade issue and perhaps other tariffs, then, yes, the chances are there for a potential third-rate hike, but i don't think that's on the table, two is baked in. i think that's what we are going to see, that keeps the markets happy. neil: if we score deal with chinese before such meeting, there's no cut. >> could be, could lead to more confidence in the market that is we don't face recession or slowdown. if trump and xi have a good meeting at the end of june. let me add another wild card since everybody in the world has proclaimed the death of inflation, i get worried. there has to be concern here, that's the fact that if we get tariffs on everything does raise
inflation on a lot of goods. >> greg you and are probably old enough to remember the last inflation, so hence our concern. you're just aging better than i am. jared, young child though you are, do you -- kidding, kid pg, do -- kidding, do you worry that you're not worried, inflation dragon and we can move on, i generally worry just to be contrary on that. >> very, very accommodative and influential central banks and other, you know, political sort of powers out there that are really pushing, it's a different time, you know, if you're bringing up, you know, the 80's, right, much different world we live in, much more -- >> the only difference this time, my friend, some things are not that different, right?
>> yeah, again, t different that people are cooperating. money is here to stay, i think the housing market as inflationary as it is, that's where all the inflation is being driven, that is also what is upholding a lot of america's wealth and believe it or not keeping a lot of money sort of flowing in the economy, so kind of a weird dichotomy going on. what we have right now is okay. neil: greg, final question on china indicating that it's going to fight fire with fire, not really entering in any sort of agreement deals, playing hardball, do you expect it will continue to do that, is washington ready for that? >> maybe not. méxico was an easy one in retrospect, canada probably an easy one, china is a really tough call. i think the rhetoric from china over the last few weeks has been shockingly hostile toward the u.s. and i don't think they're going to -- even if they have a warm meeting in late june, that's not certain obviously, i
think still months and months away from resolving all the trade issues that they couldn't solve in the last few months. neil: gentlemen, i want to thank you both, jared, wisdom of young and old alike is much appreciated here. in your face comments, besides the crack down promising to extradite anyone who causes problems from hong kong to china, not greeted favorably over the weekend, a million gathered in the streets today, no, no, not happening here, china saying it is going to happen whether you like it or not, china is also talking very tough with american technology companies and south korean technology companies, samsung comes to mind who do business in china and sort of giving sort of this is what's the deal if it comes to fighting fire with fire, you guys are going to be in the line of fire. also saying that it is ready to do anything and everything it can to support its own technology industry if things really, really get bad, that
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neil: all right, hard to keep track, 19 of 23 democratic presidential candidates were in iowa on sunday, bernie sanders and elizabeth warren inching closer to joe biden in new state poll, wall street journal political reporter eliza collins, democratic strategist david brown. eliza, first of all, congratulations move over to wall street journal, good for you. what's your take on what's going on in iowa, i know the polls can be all over the map, there was a time when hillary clinton had a comfortable 20-plus lead over then senator barack obama, he ends up inching by winning the state, stumbles in new hampshire, but, again, not according to plan, what do you
learn from this? >> we are still so far out in the big, it's so big i do expect they'll be plenty of surprises but things that are notable on the poll, joe biden still does have lead, the lead has narrowed, now in single digits, bernie sanders was the clear second place before in previous polls and he's got elizabeth warren and pete buttigieg actually basically tied with the margin of error, i think for someone like sanders that's cause for concern and biden as well, biden was not one of the 19 candidates in iowa over the weekend, he has taken a different approach to campaigning, not as aggressive as some of his competitors, so we will see if we see him heat up a little bit but i think that poll showing the other ones closing in and he was not there, granddaughter graduated, but, you know, it's notable when the person who is leading in the state was not on the state. neil: skipped out on similar california, but could have been prior commitments and all that. david brown, we know the former vice president will be back in
iowa tomorrow, that's crucial state, period, isn't it? >> yeah, iowa is absolutely one of the most important states on the road to the white house and, of course, move state as nation's first caucus state, iowa is a really good barometer for how the democratic primary electorate is really giving the race and of course bit different than new hampshire which is not a caucus state, really those two states take on important -- i think it is strike to go see senator warren jumped 6 points from march to today and pete buttigieg, mayor pete jumped 13 points. certainly there's really interesting and powerful momentum there and if i'm bernie sanders, you know, i'm curious to see how he -- how he sort of staves off support to him to elizabeth warren in part because she's compelling candidate and she's doing effective job at
talking about her policy ideas and the contacts of values, and the result compelling narrative that voters seem to be responding to. neil: yeah, she was given political technique, maybe for a while and prescription was to offer very detailed description, might not your cup of tea but something generated in campaign, what are you hearing from just republicans who are following the race? >> well, what i'm hearing is if you are elizabeth warren, this is a fantastic opportunity to raise money, so i think that that scares a lot of republicans on the fact that she may use this as an opportunity to really rack up some cash. although she's gaining ground, mayor pete is gaining ground, you know, i expect this to go up and down throughout -- throughout the year, that's not really going to be surprising and i look at it from the money side of it, neil, and from the money side mayor pete, elizabeth warren, they have a great
opportunity to seize the day to raise funds on this. if i'm joe biden, this is also a great opportunity to raise money on his camp because you can say, help us secure and stay within our lead, we don't want to lose the lead, we want to get our message out. i think that looking on the financial part of it, i think it is a great opportunity for a lot of the candidates to raise money and that's going to leave a lot of the other candidates polling really low in the dust. >> you know, speaking of which eliza, what happened to beto o'rourke, now down to roughly 0 and he was a rock star a little more than 4 weeks ago, what's going on there? >> right, not well received as he was on senate run, he's come in and all over the state of iowa and actually seen the poll numbers decrease. i'm not exactly sure what that is. but people seem to be gravitating towards other candidates, there's a lot of talk of the rise of mayor pete and sort of the lowering of beto
o'rourke that they occupy similar lanes, i think we have a long ways to go, certainly o'rourke could have a come back in the way warren has but it is interesting and noteworthy that he has gone down in a state where he is campaigning pretty heavily. neil: it is still early. david, you know pretty much all the candidates pretty well and i'm your curious that statistically i look at it someone who is number's nerd that it's all the more likely in such a crowded feel even with weeding out lesser players that you get to convention without one person having the delegates necessary to secure nomination. i could be wrong but mathematically it works against it being resolved on first ballot, what do you think? >> i don't think you're wrong, i think that several campaigns are looking at that question frankly as a democrat, i don't think that's a preferred outcome. i'd like to see the party coalesce around a nominee before we head into the convention. i think that's frankly an easier and better place politically for us, no, neil, i don't think
you're entirely wrong, there's certainly scenario where that could happen. do i think to the point you made a second ago as well, such a crowded field, some of the candidates, they probably will not have an opportunity to breakthrough 3, 4, 5 points and then the second sort of level, maybe they should think about running for the senate, such an incredibly competitive cycle in 2020, people in colorado, congressman o'rourke who has national constituency in texas, they want him back to run for senate. take on cornyn. >> that's right. >> joe biden, i'm not hearing any other candidate other than joe biden and the only reason is he can appeal to a lot of trump voters that were originally
democrats, working-class man and that's kind of joe biden's specialty, working-class, blue-collar man like some of the states in ohio, pennsylvania, wisconsin. neil: final word, noel, david, always a pleasure, thanks very much. earlier gains up 138 points now on the dow here but the administration might be kind of reining in on the party on trying to rein in on big tech, i will explain right after this.
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france, the champagne capital of the world, neil, but right now the booze is taking backseat to team usa, the team is number 1 in the world, they have won 3 world cups, four gold medals, yesterday mid fielder julie talked about what makes this team so dominant. >> the players played before us have dna that you learn from second year, first practice you've ever had, it's the competitiveness, it's that fight, it's the grit that you learn, i think at such a young age. carley: all right, a lot of hype is surrounding this tournament as you can imagine, fifa expects over 1 billion people to watch and some games have already been played all the usual suspects, england, france, germany, they have all won, as for team usa they are going to be playing thailand tomorrow at 3:00 p.m. eastern time, you can catch all the action on fox, they are
expected to win that game pretty easily but things will get more interesting when they play sweden on the 20th, i will have continuing coverage tomorrow and wednesday for all your world cup needs, neil. neil: what a gig you got there. all right, carley, thank you very, very much. you were the backup choice, you know that voice, right? can you imagine him in france? [laughter] neil: what's going on, we are talking about government with tech companies, overreach and going after them? >> there's a real crack-down, no doubt. the company as we were reporting on your show last week, fnc and fbn, the company in the most cross hairs i think based on all my reporting is google, why is that? controls so much of search
market share, trump has -- neil: don't say nice things about him. >> the dogs will be unlearned and those dogs are the antitrust division. neil: can the president unleash the justice department to do something? >> yes. neil: he can. >> nothing in constitution or law, good question for andrew napolitano but i think he would agree with me, i don't think there's anything -- anybody barrier that prevents president trump from calling up his appointee over at antitrust division, i want these guys, i want them bloodied and beaten. neil: what do they want? >> you have to prove that they did something illegal, who knows exactly where this is going. i do know this, i've been speaking people close to google side now, they are gearing up for epic bat well -- battle with trump doj.
ub clear if doj have officially told them they are investigating you or whether we are hearing through grapevine but they are clearly gearing up for this. here is what google would say if they were sitting here, we have very good arguments that it's not antitrust, we don't use coercive techniques to maintain search, if you search something, we are not redirecting benefits are for other properties like youtube and things of that nature, they said those arguing, this is what they think is leg up on this thing, those arguments were successful during the obama administration in convincing not the doj but ftc not to bring any charges, not to bring case against them. full ftc voted 5-0 not to bring case against google in 2015, talk about how the staff of, if
tc wanted to bring case but the full commission said no, but there's no doubt, i will say two things, that maybe wishful thinking here and here is why, you have to think about how doj went after the case, the doj actually got involved in this maybe like for the first time like in the old days, tech companies were a lot of it was done by the fdc, the doj wants the case, they want this case to investigate, so already have -- if you think about it, an organization that can bring and we have been told they have ruled anything out in terms of the type of charges, criminal, civil, we should point out criminal cases are extremely high bar, most, most criminal antitrust cases are i think all of them so far have been brought up on cartels, secret price fixing, i don't know how that translates here. but this is serious and, you
know, again, i think we at fox business have been pretty much a front on this, these tech companies are now in the cross hairs not just of congress, the such suspects like elizabeth warren but the alleged free market guys that are running trump doj. neil: would you include the facebook, amazon, apple? >> they are all being scrutinized. i would put google at the top of the list. just because how much it controls and just -- and i think, you know, trump publicly maybe even today publicly singled them out. so -- what we are hearing from our sources both close to the justice department and close to google is that they recognize that they're like of all the tech companies, they're all in the suit, public enemy number one among them. neil: surprised they are holding up, worldwide digital tax.
>> yes. neil: they are holding up surprisingly. >> i think they believe and investors believe that the criminal case is just so out there, you really going to have to make new law. a couple of years to play out. i will tell you google will take stance with investors, if they get worried about this, big institution investors, we have been there before, we know how to do this, we have very good arguments. now, the counterto that is doj is telling us or telling -- not telling us or signaling to people, we should say, not returning my calls that -- whole host of lawyers that they don't like this type of behavior, very serious behavior and they wanted this case. neil: that would worry me as bipartisan push.
>> right. >> to get the guys, you know. >> the closest i came to like doj telling me something, i interviewed at the conference where he clearly said, you know, these guys are on our radar screen. i mean, he said it in such a polite way that if you don't -- if you didn't know the guy it would go over your head, clearly he wouldn't have said that unless this is serious stuff. neil: thank you, my friend, charlie gasparino, interest rates have been, you know, soft of trending down, survey out right now that says they could be cut in half, cut in half from where they are right now. so for homeowners out there, your ship has come in. do everyone who follow this industry feels the same way? one guy doesny after this.
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imagine that, demand for bonds apparently strong. sort of beyond anyone's expectations going into this year strong, the yield on 10-year treasury backing up to 2.14% stands to keep sliding away, trade might have something to do with that but slowing economy might have more to do with that. we might have gotten a peek of that in latest job's report, fewer than expected 75,000 jobs advance here even though unemployment is 3.6%. things will tail off a little bit. so much so that a survey of economists, wall street journal have talked about the possibility interest rates could get into high 1's, not mid to low 2's, managing director jeff taylor says such environment, indeed, would be a good time to buy a house, maybe refinance the one you're in, so jeff, these numbers that some estimate could
get as low as 1 something on 10-year note seem incredible to me but what are they basing on in. >> looks incredible to me too, we were looking for rate hike, not potentially two rate cuts, i think what they are looking at a lot is going by stability, unemployment being as low as it is, wage growth has really, really grown which is important in middle class over last 10 years, bottom half weight distribution is higher, that means that middle class, if you're looking to look in housing market or don't have a house right now, this is literally the perfect time. interest rates are 1 percentage less than it was this time last year. yeah. that's about 10%, that's huge.
people aren't paying over bid right now, more inventory in the market right now, people are feeling better about the jobs right now and saving and great time to finally put that in housing market and make purchase. neil: what stops people is supply, limited, certainly deep price points, refusal of homeowners to sell, you say that's changing a little bit? >> well, homeowners sales but cost of goods for all things going on globally is higher, we will build maybe more, the affordability factor, we just had 1 percentage point basically down, can afford a house.
again, i see a very strong stable housing market but what i'm not seeing 8 months ago people constantly paying overbid. that's come down a little bit, again, more inventory in the marketplace. neil: let's say you're looking at 300,000-dollar house, pushing it, right now it's like 270,000-dollar house with interest rates and maybe more, do you think the rates 3.83 for 30-year fix, that's the traditional one we use, break 3 and a half percent? >> i do. i think people are baking in 50 basis points right now. if you get two rate cuts at 50 and go to 75, yeah, back down to 3 and a quarter, that's just -- if the fed acts that way. 90% chance, the flip side is, all things become great with china and we reach agreement, i could see step back and don't get rate cut this year, probably
10% camp right now, but so driven by untraditional metrics because employment all-time lows, wage growth, incredible volatile for what we are used to measuring. neil: it is amazing, jeff, thank you very much. all right, california right now is making some news, first state in the nation to provide full healthcare benefits for a lot of its illegal immigrants, that's $98 million for some 90,000 illegals, how they do that and crunch to come in california after this. that move us forward. every day, invesco combines ideas with technology, data with inspiration, investors with solutions. because the possibilities of life and investing are greater
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>> we are up about 181 points. backup we have been seeing in the bond market here. seven or eight asis points. that battle that always ensues between stocks or bonds. whether that could telegraphed maybe doing. is a big leap, so d not go there. the dow still up. 200-point game. following that very, very, very closely. a deal with the mexicans. the president argued it would not have been possible if he had not been threatening those
terrorists. the mexican simply did something they were planning on doing anyway. what ever they were, they sped up it did it to get the tariffs off their back. fox news senior capital advisor. what are you hearing, ted? >> happy to escape the building. a short week on capitol hill last wednesday so many could attend the d-day ceremonies in normandie and not have to answer these questions from reporters in the hallway. the fact the president has dow this back, this is a key republican senators at face reelection campaigns in battleground states next year i would look at joni ernst in iowa, tom in north carolina. think about the textiles. texas is a republican state. hundred mile border with mexico. very concerned about these terrorists. here is the other thing.
indicating ab this is why they worked out this deal. there had been pressure dealing with the arms sales. dealing with the yemen war powers resolution. each time they had votes to pass something, but not enough override. a lot of people on capitol hill from both sides of the aisle. that may very well have cracked in the president gone forward with this declaration to impose the tariffs. probably would have faced a resolution of disapproval in the house and senate. maybe they would have had something passed with a vetoproof override majority in the house and senate. neal, that would have been a critical rebuke. >> using the same strategy again that concerned some of them, right?
>> other people i have talked to say they don't think this issue has gone away. putting together a spending bill to keep the government open. border security and the wall in the upcoming round of spending. they wrestle with the u.s. mca to pass that. it is not going away. >> nancy pelosi does not seem smitten i that new agreement. i am wondering if that remains. >> that is certainly the case. she is very concerned about enforcement. they seemed like they were actually making progress until the president started to threaten the terrorists. i talked to the most protectionist members in her caucus. people from upstate new york. they don't think mexico could ever get there with the enforcement. probably the vote will be a lot of republicans. kevin mccarthy.
majority leaders think most republicans will vote for this. probably will not move it until the votes are actually there, neal. >> thank you very much. i want to get the read on all of this. democratic texas congressman. do you believe, congressman, that the president got this substantial deal, as he likes to call it. a lot of this and the promise that mexicans are making was already baked into the cake. what do you think? >> a contract with the white house, but also with the mexicans during this process. quite honestly, it did get focused on this. in the movement already. bottom line is, immigration is one thing. is another thing.
i've been focusing on trying to get the trade agreement between the u.s. and mexico and canada, make sure that we get enough democrats to get this done. the president and the tariffs, just cause a little disruption. >> it should presumably help your case. right? >> the next 90 days. the president said he wanted to review this. i flipped on the border. my hometown is the largest. texas is so important when it comes to agriculture. this uncertainty, this lack of stability is not good for business. the nearest chamber all the way down to the local chamber on the border. >> the effect that terrorists would have had on the mexicans was enough to prompt them to come to washington. you think if you did not have
the threats of tariffs we would've gotten anything out of them? >> i do not know. the threat she certainly would have had a very negative impact. the american consumer would have been paid for this. being on the border and having the largest port in the country, lack of certainty, that is not good for their economy. certainly not good good for our economy. did it get people talking? of course it did. the president has already threatened to do this in 90 days. this is not good for business. >> congressman, democrats by and large not keen on what the president did here. both involved tariffs. both involved pushing as far as you can go to help american workers. why is it okay with china, why
is it not okay with mexico? >> we cannot put mexico, our number one trading partner in the same category as the chinese we know what the chinese do to our economy. we cannot do the same thing with the mexicans. our economy is so integrated, 40% of the imports that come in or should i say the imports from mexico, 40% of those have american parts. when you put a tariff on the mexicans goods, you are really putting a tariff on 40% of percent of american parts. it is really shooting ourselves in the foot by doing this. should mexico do more? absolutely they should do more. should we work with central america? yes. we are given that responsibility away when it should be a joint responsibility. we have to do our part.
the mexicans have to do their part. certainly, north north america needs to do more. thank you so much, neal. >> mexicans are dealing the goods on the promises they have made here. hard to confirm all of these reports. rounding up and arresting migrants trying to get to the u.s. border. watching the commentary writer on all of that. what do we know about this? >> over the past weekend, accosted the train on the way to the state. central mexico just south of mexico city. essentially, a number of migrants, up until 50,000, transporting themselves and avoiding human smuggling and human trafficking to get to the u.s. border. may be about 25 arrested
according to our reporting. this rule was passed by mexican authorities in 2014 and has has largely gone unenforced. if you want to believe some of the reports from the new york times about mexico agreeing to do some of these things to curb immigration, months ago, to only doing it this past weekend, they probably needed a solution that we are looking at here. mexico needs to enforce the laws that they have on their books. >> something this weekend, obviously, the tariffs for or against that type of means what you get results. that is a whole another issue. i also wanted to get your take on what you make of the 6000 national guardsmen and mexico who will be policing the border. guatemala down to the pacific ocean. they are not like our national guard.
they have an increased role to stop crime. cut down on incidents against citizens and tourists there. the worry and mexico is the same soldiers are going to be distracted. they will not be able to do as much of that and crime will start soaring again. what are you hearing? >> how to stop some of these transnational criminal organizations. cartel organizations trafficking people from the northern triangle up to mexico and the united states. the mexican border with guatemala is a lot smaller than it is with the u.s. and mexico. there have been issues in terms of some of these ports of entry specifically. looking at october 2018 migrant caravan.
a lot of people were pushing forward against many of these mexican patrol members creating what would be construed as a human shield very difficult to police that and make sure innocent people, women and children are not harmed. other people rushing to the border. >> you think this will work when off is said and done? >> on board with the united states. there border with guatemala. maybe they should have a discussion within their country about potentially building barriers that are better enforced. >> thank you very much. good seeing you. >> a very good writer. companies under a whole lot of high pressure right now. this is one that will really hit their wallet and fast. a worldwide digital tax.
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major averages going along for the ride. government investigations or breakup talks, you name it. that has risen optimism. similar results with china. that can work both ways. rate cuts based on the idea that trade can construct the economy and slow it down. excitement over lower interest rates. warranted. i guess it would be, if you had a deal in both cases. let's get to the capital founder mike murphy. what do you think of that? >> that is a lot. is bad news good? i do think getting trade off the table is a positive for the stock market. >> you just said it better than i did. even if it met we get a deal
with china. then you could take the need for rate cut. right? >> correct. >> what we really want is a strong economy. stock market boosted by an accommodated fed. i would love to see a world where the fed will cut rates if needed. ideally, we have mexico out of the way. the economy can grow on its own. the fed can step back and let markets do what they need to do or let price dick tate where they need to go. not only for me, but all investors out there. >> what happens if the china thing grabs on? last week they raise the possibility under this month more likely month. where are you on all of it? >> we were at for hikes this year. now we are at three. i try to avoid it as much as
possible, neal. simply, we will be data defendant. we will cut if we need to cut. boost the economy. other than that, we will stay out of the way. if they cut too much it could create a bubble in the market. i think we are in a really good spot. we are getting the mexico deal out of the spot. the tactics can work. they have worked with mexico. and then if you look at the u.s. economy, i think you will find that you can rebound. we will continue to go forward. historically low unemployment. nowhere near full capacity in the economy. if we start hitting there,
corporate profits increasing. the market is going higher. >> thank you very, very much. mike murphy, good seeing you again. >> the g 20 is looking at big tech right now. just sort of a piggy bank ground it is entertaining. a lot of these companies try to post their profits and low tax environments. the europeans are looking at it and saying that is an easy way avoiding taxes. a set amount that everyone would have to pay. 99.9% are american. having said that, chief investment officer on what this could mean. how real is this looking now? >> it is part of that populist movement of more government involvement in business. it is on a global basis
happening in the u.s., too. a real possibility. a real agreement on moving forward. trying to come to an agreement year-end. >> it seemed like they were fighting yesterday's news. the year before news where a lot of companies were generally incorporating or shielding taxes by going to areas. they are not doing that nearly as much. they have rich b-day a lot of money. is that even the issue now? >> it does seemed like it is a dollar short. u.s. tax reform addressed a lot of this. repatriation. leveling of the playing field between the u.s. and the international tax code. i think, i am not sure if they're angry these companies are making money, angry they are at position to best keep making
money, it is kinda fascinating to me. we should tax them more aggressively and slow down potential innovation. i think they are the best at exploiting tax loopholes and they get the best on their investment. >> you have reported on it before as well. the wagons are circling a lot of these high-technology guys. everything from you are getting too big for your britches to you or to slanted in your coverage and search engine. republicans and democrats seem to have common ground on wanting to go after them. what do you tell investors in these stocks? >> a large example on the private market. just way ahead of where the laws are and where the government is. always trying to play catch-up. data regulation is a real concern. generally underway. technology is still set the call
we are not in some new paradigm where the business cycle has ended. be aware of both of those things. there is some risk to the business model from regulation. >> thank you very much. good seeing you. >> thanks, neal. >> california is making a move for healthcare towards illegal immigrants. leading these negotiations saying california believes health is a fundamental right. i always thought that apply to fundamental right for american citizens. the heated debate for that after this. this is where i trade and manage my portfolio. since i added futures, i have access to the oil markets. and gold markets. ok. i'm plugged into equities. trade confirmed. and i have global access 24/7. meaning, i can do what i need to do. then i can focus on what i want to do.
media director on who will pick up that tab. what are you hearing? >> taxpayers. that number is expected to go higher. common knowledge. breaking the law is a bad thing. no such thing as a lunch. you can break certain laws if they hurt your feelings. you can hand out free lunches and in this case free health care as long as a taxpayer is there to foot the bill. this will just further exacerbate the problem of illegal immigration. if you are in another country and you see what happens when you come here the wrong way, you see the benefits that you get, why in the world would you take the time to come here the right way? there's room for moderation on immigration. policies like this make it harder. >> the right or the left. they can start morphing the
language and not have us think that we heard them more think the language. the democratic sponsor saying we have to remind the rest of the country here in california we are pro- immigrant. we are all pro- immigrant. we are pro- illegal immigrants. the senator said california believes it is a fundamental right. you are right. it is a fundamental right if you want to argue that. i just think no one even hears the distinction anymore. between citizens and noncitizens. those that get here the legal way and those that get here that a legal way. >> a conservative effort to modify that language. illegal immigrant is now offensive. >> calling people here as illegal immigrants is insulting to people who have done it the right way.
taken their time to become citizens the right way. one thing if california was swimming in extra money. trying to find programs. a state that is going bankrupt. lost 6 million people in the last decade. it almost makes it even worse. go through the streets of los angeles. san francisco. thousands of homeless people. programs like this trying to alleviate that as trying to have programs that benefit people that are not even american citizens in the first place. >> it just seems like no one is raising that big distinction here. it is what it is. it looks like it has has a good chance for passage. >> i do not think it will be enough votes to stop it. i think it is something that will play into 2020. the left will have to go as far to the left as possible on
immigration. i think you will see more and more candidates spilling that pressure to come out in support for fear of not winning the primary if they don't. i think plenty of americans, it will hurt those candidates in general. a problem without making it a distinction between legal and illegal immigrants. i do think that that social pressure is so powerful. it has been thrown into the same boat. that social pressure plays a role in people going along with this. >> getting the wording exactly right. if you are pro-, make sure sure you put illegal in their and you make sure you are sticking to that. thank you. >> appreciate it, neal. >> it looks like a slam dunk on paper. fair value those facts right now united technology. becoming one of the biggest
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it's just $4.95 per online u.s. equity trade. you can get so caught up. you forget about one that was out there a gazillion years ago. it may be getting closer. charlie. >> hour-long national nightmare might, might be over soon. foxbusiness first reporting preliminary trucks had been going on for a while. we are to buy sources close to the deal, this is rubber meets the road week. a regularly scheduled meeting. what will be discussed is not something regularly scheduled. that is the potential tie up between viacom and cbs.
preliminary talks. lots of them this week. watershed moment. this is where it gets official down and dirty deal terms. there has been some of that. look for friday to be in the pivotal date. possibly, this is interesting, some sort of announcement coming out of this cbs board meeting on friday. we will find out what is going on with this very soon. as we were first to report, broad structural discussions about what this combination would look like. you know what cbs does. sixty minutes. nickelodeon. one ceo. that person is likely. the ceo of viacom. cbs ceo may stay through a transition.
sherry redstone has been pushing for this merger for 10 years, she runs national amusements. holding both cbs and viacom. she is likely to be made chairwoman. that is the sort of broad stroke management. the bankers are trying to arrange us kind of like the merger equals. the shareholders will get some sort of premium. trying to establish them as equal. in terms of giving back, that could change the negotiations. i am just telling you what we are hearing now. finally, we will have to cross this story off our checklist. after they do merge together, the theory is to sell it as a whole.
this is a deal. a deal here. possibly a deal may be a year later. >> charlie gasper reno. this is not any police car. this is not just any other car. live at metlife stadium in new jersey with more on that. what is the deal with this thing >> utility based on the new ford explorer. last year the car outsold any other one behind. this one is all new. offering a couple of versions. the fanciest police car you can buy. this is one they expect the department to five. it is a new hybrid. 24 miles to the gallon. a lot of horsepower.
cost about $41,000. this will be the bread and butter. more importantly for a lot of police departments, police officers spend most of their time parked with their vehicle idling. running everything off the battery. compared to a conventional vehicle. 33,000 of these sold last year. a big seller for this year. also the new ford explorer in july will be one of its top models on the consumer side. >> wild stuff. how is it to drive? >> a lot better than the old one. front wheel drive to rearwheel drive. making it more like a sports car. ford mustang. giving it a little extra gas.
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beijing went back down. this demand to tighten extradition. anyone could be extradited over to mainland china despite those protests a million strong. it will continue doing so. benjamin hall is in london with the details. >> they are not, neal. this could have a real impact. for 20 years, they have been able to host this. speak up against the chinese governments. and as such, hong kong has become a safe haven for people who stand up against that rule. that could all change with this bill. many people are object to it.
it does not appear this will make any difference at all. on sunday, some estimates say up to 100 million people took to the streets against this bill. allow china to deny expositions at will. targeting the political opponents. shutting down any criticism. it is being seen as a major attack. as the record crowds gathered, hong kong pro- chinese leader insisted it is only to prevent hong kong from becoming a safe haven for criminals. the move had not and initiated i the chinese government. few analysts believe her. since being given back by the british 20 years ago, it's been about judicial independence. it has always kept the hong kong dollar. as evidenced today, the freedoms freedoms are disappearing. it seems as if china is trying
exert evermore influence. exposing to the deeply flawed justice system as well is further year ocean of their judicial independence. we have seen a number of critics in the chinese regime. disappearing from hong kong. they need to reappear in chinese courts. they will be able to go in and extradite whoever has been talking against the chinese government. >> thank you very much. we will keep track of this. maybe a result of the trade tip with the united states. china imports slid about a half% in china. exports actually rose. does it put them under the economic gun? jason, good to have you back. >> good to be here. >> what is your sense of what
this means for china? domestic population. many goods from abroad. could that indicate a slowdown going on there or something, i don't know, more sinister. what do you think? >> trade in exports matter a lot to china. 4% of their gdp is exports to the united states. that is about four times as important as china is to the united states. only about 1% of our gdp. trade is really important to them and trade has been hit globally and especially hit in the u.s. china relationship. >> they are looking at their exports returning in may. all of this u.s., you know, piling on is hurting us, even in their country. it is not happening.
maybe we can sort of deal with it. >> it would be a mistake to think that way. these expert numbers are very volatile from month to month. we have not done the second round of 25% tariffs that president trump has promised and may well be coming. if i were the chinese, i would be very nervous about that 4%. not to mention, firms and the different restrictions for their ability to grow and expand internationally. >> reading china through all of this. i guess i am not alone. i am sensing the in-your-face position on this. telling citizens do not travel to the united states to rounding up technology concerns.
what happens if we come to a flow loan trade war. this is saying a lot of things that don't sound like a country about to resume talks to go back to the negotiation table. >> i think they are doing a lot with words. they are not doing a lot with actions. they have many tools that they could use to make it much more costly and difficult for our companies to do business in china. they have a lot of weapons in the arsenal that they have not used. absolutely they are dialing up the rhetoric. you know what, if they change their mind, they can do the 180 and move the rhetoric all the way back in the other direction if they want and need to. >> do you think they will? >> i hope so. for the sake of the united states. for the sake of china.
the global economy. both sides to me, frankly, are opaque at this point in terms of what they are trying to achieve and how they are trying to achieve it. >> chief economic advisor. a lot more. thank you, sir. good catching up. this goes back to the summer of 73. one of the legal witnesses for what would turn out to be very telling. his name, the white house counsel. talking about a cancer on the presidency. fast forward many decades later. kicking it off for this investigation. night and day. what is the deal? s, looked at chart patterns. i've even built my own historic trading model.
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>> initially, house judiciary committee asked for the entire unredacted report. 10% of it was blacked out. attorney general said and i believe him it was blacked out because federal law would not let him reveal certain things that are in there. then they served him with a copy of an order of contempt that they were about to vote on this afternoon and negotiations went back and forth right before i came out here during the show congressman nadler issued a statement saying we've reached an agreement for the mueller report materials. that is the big phrase. if he has reached an agreement for that which was unredacted i can understand that but if he's reached an agreement for the doj to give him underlying evidence, fbi interview notes, transcripts in testimony before the grand jury, transcripts of wiretaps that would be unheard of us we
don't know what it is. to make matters worse this will be viewed, not in public, but this will be viewed in seekers. we still don't know what it is. neil: by john dean? another thing. what does he offer here that maybe he might have offered back in the days of the white house counsel? >> in american law there are only two kinds of witnesses, fact witness who has perceived something or her senses and will recount the perception to the jury to help the jury figure out what happened or an opinion witness who is an expert on some arcane subject matter that requires explanation for the factfinder. the fact finder here is the house judiciary committee. members of house judiciary committee are lawyers. i don't know what function john dean would certainly he's not a fact witness and he was not there. that's what he will do. he will set the table. neil: he's a nonbiased arbiter.
>> know who set the table for saying this was a crime and this was a crime but they don't need john dean to tell them that because after john dean has six former u.s. attorneys professional, federal prosecutors who will analyze the mueller report for them. that is a legitimate expert function. john dean's function is just to irritate the president and get under his skin and get him tweeting about it. neil: back to the new york times. i will not ignore but it says it involves whatever role the president might have had in trying to fire mueller and he said that's not the case and again he said it was not the case but even getting jeff sessions to reverse - >> does have points of the instruction of justice part which is volume two of the mother reports that are the most potentially perils to the
president because those are the parts that bob mueller himself said constitute obstruction of justice. if you look at the nixon impeachment i guess we'll hear about that from john dean or look at the bill clinton impeachment both were charged with obstruction of justice, not as crimes by a grand jury but as impeachable offenses but has judiciary. neil: but they're getting evidence of that fact not to have enough to go either way. >> this is what the members of the judiciary committee who have been saying in peach, impeach, impeach wanted to hear and they will begin to hear it this afternoon. whether that constitutes the beginnings of impeachment or a big fact-finding they can characterize it however they want. neil: it will not move manny's opinions. if you like it or don't but where will this - >> you pointed this out in your introduction or keys to the segment when john dean testified in 1973 he revealed the things that were shocking about the nixon president.
neil: and vindicated when the tapes came out. >> correct. i can't imagine he will reveal anything new and i don't know any witnesses that will reveal anything new. the only witness that can reveal something new will be bob mueller who said we found this but did not put in the report. neil: you need a gotcha moment. watergate revealed the existence of tapes but short of a bombshell discovery like that i don't know. >> when the nixon hearings began in the summer of 73 president had an approval rating of the 70s but by the summer of 70 for the approval rating was in the 30s and what happened in that time period, the hearings. neil: and on and on and on. >> they think the drumbeat will have the same effect. neil: both earrings started in the house and in the senate the most of what went nowhere. neil: the difference here we have a report to work. >> correct. and we believe and we already know whatever the worst is that they have about the present. neil: way to young to remember
the whole watergate. >> i am. [laughter] neil: sadly, so it might. don't let me get started on andrew johnson in the first impeachment trials. charles payne was covering that one. charles. charles: between you i could do it all day. [laughter] neil: thanks a lot. charles: i'm charles payne and this is making money. breaking right now, will stocks send their winning streak today dow up now six days in a row and the momentum is building and more of these markets plus big mergers straight ahead. also, president trump makes a deal with mexico that they promised to do more to protect our southern border and their southern border and also thousand two by more u.s. agricultural products. will the 6,000 national guard troops that they sent to their southern border do the trick to stem the flow of immigrants. will talk to former icy d