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  Economic Adviser Larry Kudlow on May Labor Report  CSPAN  June 1, 2018 2:47pm-3:00pm EDT

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collections to see items from the in their shoes exhibit to hear about journalist and author grace hawthorne know for his work soul sister. on sunday at 2:00 p.m., we'll look back to jfk's visit to forth worth general worth square where he gave an impromptu speech to thousands of spectators the morning he was assassinated. >> the other half of that day was in forth worth where everything seemed possible. where ideas were important. where leadership was important. that half of the day is important to remember. >> and then a visit to fort worth stock yard's historic district which was once the location of the largest livestock industry in texas. watch c-span's city tour of fort worth, texas, saturday on c-span 2, book tv, and sunday at 2:00 p.m. on american history tv on c-span 3. working with our cable affiliates as we explore
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america. . >> trump makes protocol with report tweet before data is released reads a headline in the new york times today. they explain that under long standing tradition, the president and several senior administration officials, including the treasury secretary and the chairman of the council of economic advisors, are briefed on the numbers the night before. and they're briefed on the numbers which they are not supposed to disclose until the report is made public at 8:30 a.m. earlier in the day, white house economic advisor larry kudlo spoke with reporters about the departure from protocol and the administration's newly imposed tariffs. here's a look. >> good morning. >> good morning. >> my pleasure to see you. >> why was it appropriate for the president to tweet about the job report before it was released? >> why not? he didn't give anything -- >> it was market. >> wait, wait. short sellers might have looked at that and said he's gaming us.
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and then -- he didn't give any numbers. and, by the way, i just want to make this point. i've been at this game awhile. just like it was years ago. these numbers come out the night before. the cia knows and these days they come to nec. and i make a call whether to let him know or not. and it just so happens last evening i let him know. >> how can this go against the 1985 -- >> no. >> because no one should reveal what the findings are the night before before they're released. >> right. and we didn't. >> why is this such secrecy. >> wait. this is important. no one revealed the numbers to the public. >> why would the president tell anybody to look at the jobs report if it was gieoing to be negative? [ laughing ] >> you'll have to ask. that's a therapy thing. i don't know. >> therapy thing? >> he's got -- look. it's up to him. he likes to tweet. i do think a lot of people are waiting for the job.
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[ inaudible conversations ] >> i just want to inject this radical notion the jobs report was really good. the economy is doing really well. and kudlow and hasset are doing their job. i just want to say that. and friends of mine, lord knows on the other side of the aisle, good friends of mine, told us we couldn't get done. we're here. we're here. and i think that's -- that's the story today. okay. [ inaudible conversations ] >> are you going to tell the president the jobs number next month? >> i have no idea. i have no idea. he is president. [ inaudible conversations ] >> look, it's very important. the way i look at this, first of all, believe the president when he says he wants help on this
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production and the world price. he wants reciprocity. okay. these are important concepts in the trading game. so, you know, we tax their cars 2 and a half percent and they tax ours at 10 or more, that needs to be changed. that really is unfair. [ inaudible conversations ] >> now, having said that, this is what i regard as family call and the conversations are wide open and could well be solved in the months ahead as the conversations continue. i'm not making -- [ inaudible conversations ] >> i'm just saying the structure -- [ inaudible conversations ] >> keep talking. >> family appears to be intensified. [ inaudible conversations ] >> unacceptable. the reciprocal word is now being used in counter bailing
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terrorists against the united states and appears to be getting worse. >> i don't know. look, we told them awhile ago, maybe months ago, that we want to help on these issues. we want to help, for example, on china's crusade to subsidize steel production. corner markets. and, therefore, drive prices down. they may get it to us. it just hasn't happened yet. >> what do you think of farmers say they're concerned about their bottom line? >> so i think that this is a story that's going to play out for a while. and i think if you read the statement yesterday, it may have been one of the absolute things is that we are open for further discussion. [ inaudible conversations ]
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>> farmers. >> talking about trade when it continues -- when you get national on both sides and government saying we have to protect our future. as the political aspect and economic aspect. do you have any anxiety about this? >> look -- >> national confrontation takes on a life of its own. >> it's quite true, harrison not my favorite economic policy, but i must say when you're in these negotiations, something the president taught me, you have all of the tools available on the table to get where he wants us to get. and where he wants us to be with this stuff, lower your barriers. let us export more and more. we will give you the same privilege. and we will grow faster. our workers will get paid more. and so will yours. >> larry --
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[ inaudible conversations ] >> trade deficits. but you're talking about tariffs. and the president over and over again talks about trade deficits as if the problem is countries aren't buying things from the united states. not just they're necessarily having higher tariffs. >> the best way to solve trade barriers is to lower the barriers. i've said that for a million years. [ inaudible conversations ] >> lower the tariffs. lower the tariff, non-tariff barrier. and let the free market operate privately. this, by the way, is part of our discussion with china. part of our discussion with europe. part of our discussion with our neighbors in canada and mexico. let's agree major point some of this stuff is tough. but let's agree to have a generalized reciprocal barrier reduction so everybody wins. that's the way out of this.
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but, again, the president has made it very clear whether it's negotiation or enforcement legally tariffs are part of it. [ inaudible conversations ] >> what do you say to the farmers all across the country? [ inaudible conversations ] >> this is going to hurt their bottom line. it's going to hurt their quality of life. >> the farmers are very important. i've been in the white house. i've been in most meetings. we are doing everything we can to help their market. everything we can. and we know that. and their mandate is trade not aid. >> but what do you think they're going to lose money on? >> let's see what happens. >> should we have retaliation action from the eu from canada? >> you know, talking about -- [ inaudible conversations ] >> they haven't implemented them yet. they're announced them. >> right. >> just think of this, though. >> but you may retaliate against those retaliations, is what you're saying? >> you're getting way too hard. get to it.
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i say let's talk. all right. and i believe the president is a superior negotiator. so let's see where this takes us. [ inaudible conversations ] >> next week the president will go to g7. we sit down with prime minister and have a conversation about nasa and also can you shed some light on the conversation that they had with the vice president. he suggests that there was a demand for a clause and that's what is leading to talks currently. >> you'll have to ask vice president pence about that conversation. i wasn't part of it. regarding sitting down at g7, i'm sure there's some discussion with all of the leaders about these various points. [ inaudible conversations ] >> i'm going to emphasize this point. this is in my judgment the family quarrel. a family quarrel.
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there's trade disputes and it's a family quarrel and it's it keeps lines of communication over. this thing can work out [ inaudible conversations ] >> i'm the optimist. and i think down the road -- look, i said this when i first took this job and had similar discussions. it's a long process. president trump -- i mean, he said to me again yesterday. he believes free trade and i believe it too. but, but, but, you've got to clear away the debris of unfair and illegal trading practices which has come to litter the world trading system which is badly in need of reform. if you can take that and clear that debris, you'll have the proverbial rainbow at the end of which is a pot of gold. and when you open up that pot, we will have faster economic growth. that's why trade reform is important. it is, if done properly, trade
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reform is a growth policy as long as it's done. that's what president trump wants. [ inaudible conversations ] >> it's hot out here. >> there's a number of people out here concerned in germany. >> thank you. >> how is your relationship --. >> here is breaking news now from the associated press. president trump ends the week of uncertainty announcing historic summit with kim jong-un is back on for june 12th in singapore. here is president trump now making the announcement. >> we'll be meeting on june 12th in singapore. it went really well. it's a get-to-know-you kind of situation. mike has spent two days doing this. we've gotten to know their people very well and we will -- you people are going to have to travel because you'll be in singapore on june 12th.
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and i think it will be a process. it's not -- i never said it goes in one meeting. i think it's going to be a process. but the relationship building is a very positive thing. >> now russian president and french president and japanese prime minister join a panel of world leaders at the st. petersburg international economic forum. an annual gathering of international business. from russia, this is about an hour. >> thank you very much. we've had five very he will qent speeches. and no -- eloquent speeches. and now is the time for questions and i hope direct answers. the conversation has gone all the way from football to endoscopy and climate change. but now i want to talk about trust and especially look at three areas where this is an issue. we have the iranian nuclear that we talked