mobilization of phones and computers. looking at internet of things. you have the semiconductors to work with. you have biotechnology. [closing bell rings] finally you got financials and look at all three spaces if you have opportunities with the market volatility. liz: chris, thanks so much. have a great weekend. that is it for the "claman countdown." connell: we had quite a close as we move to the chosing bell on wall street. still the dow lower by some 87 points. we have all the trade concerns we'll talk about the next hour. s&p 500, nasdaq also in the red. there is a lot to brac down. i'm connell mcshane filling in once again for david asman. melissa: i'm melissa francis. this is "after the bell." we've got another big show for to you today. the president speaking out on the explosive ig report and more calling james comey's actions criminal in a wide-ranging impromptu interview and press

conference on the white house lawn. that was a lot. the president also slamming the fbi over new evidence of political bias as more disturbing texts within the agency are now coming to light. former deputy assistant director at the fbi, danny coulson, former defense attorney gregg jarrett, the host of "special report," bret baier, joining us this hour to break it all down. plus the u.s. announcing tariffs on $50 billion of chinese goods, sparking fears of a trade war as china is reportedly getting geared up to hit back. forbes media chairman steve forbes what happens next. it is day two at the u.s. open in shinnecock hills at southhampton, new york. the course is prove to be a beast. the latest on the leaderboard. connell: it is a beast. we'll get back to shin cob in just a minute -- shinnecock in a minute, melissa.

markets down for the fourth trading session in a row. this is the longest losing streak for the dow in six weeks. phil flynn watching all the action in oil which was interesting today and gold. he is out at the cme. he is in chicago. let's start with nicole petallides at her usual post on the floor of the new york stock exchange. before we get to the markets, breaking news here on the at&t-time warner merger. >> absolutely. just moments ago we learned new developments on the at&t-time warner merger, 85 billion-dollar merger got okay. latest in at&t memo, time warner ceo jeff bewkes will plan to leave after a brief transition. it is also worth noting that he did testify that he believed, he would be terminated without cause an should the merger go through, that he believed at&t executive john sankey would take over his duties at new company. we'll see what develops with that. at the same time turner chief john martin is leaving after

this at&t acquisition. so the new company has a new name. it will be renamed warner media. taking a look at the major market averages, the dow was down 280 points. it finished down 85. it is down for the week. s&p and nasdaq came under pressure t was all about trade tensions. first we impose tariffs. then the chinese were going to impose them right back. for the week, the dow is down 1%. s&p, you saw the fractional gain, thought it would be down for the week but squeezed out a gain. chevron, ge, boeing, among laggards. no doubt names related to industrials and tariffs are ones that get hit the hardest such as boeing and caterpillar. chevron in there. that accounted for 3/4 of the losses. apple, down 1%. this after the multiyear deal signed for a-listter oprah

winfrey. no news on the deal or payment. she did wonders for weight watchers. this comes on the heels of netflix signing former president obama and wife michelle. back to you. melissa: wow. oil was today's biggest drag, dropping 3%, settling lower for the fourth week in a row. it is the longest losing streak since september. we're seeing gold tumble as well. we have phil flynn. hi, phil. sorry about that. >> you sure do. no problem, melissa. big selloff in oil. biggest one-day selloff since april 2nd. interestingly enough that was the last time the oil market was hid with china trade war fears. what happened after that? the market calmed down and we rallied. we'll see if that happens next week. the other thing in play with oil is the opec production increase. the market right now is pricing in the possibility that opec is going to raise oil production by 1.5 million bears of production per day.

so combination of increase in production, possibility of a trade war, it is going down. now also china will not leave out the u.s. energy producer. in their sanctions, they're going to say the u.s. energy producers could get tariffs on their oil as well. gold doesn't like that either. it killed it. back to you. melissa: yeah. gold at a low for the year. that is amazing, phil. thank you. connell. connell: melissa, let's fill in some details on the tough talk we've seen on trade. president trump began the day announcing a 25% tariff on up to $50 billion worth of chinese goods, raising new fears we're heading into an all out trade war. >> we're just going to do $50 billion on $50 billion of high technology equipment and other things coming into the country because so much of our secrets -- you know we have the great brain power in silicon valley and china and others steal the secrets and we're going to protect those secrets.

those are crown jewels for this country. connell: we had the response. china vowing to he retaliate, put tariffs on u.s. goods bit 6th of july. ed lawrence live on fox business at the white house with the latest on all of this. edward. reporter: connell, president flexing u.s. muscles in terms of economic muscles. he is trying to level the playing field in his mind. president said we already lost the trade war here. we is trying to make up ground. he believes it is his responsibility to protect american industry. >> we need protection. everyone is taking advantage of us. the european union made $151 billion on us last year. i told you about china. you look at japan. you look at south korea. we help these countries militarily among everything else. at what point does it stop? reporter: in the latest round of tariffs you mentioned we're putting on chinese technology. this is high technology.

where china wants dominance in this by the year 2025, $50 billion worth of tariffs go into effect on july 6th. a number of companies in america are trying to figure out what the impact on them will be. the chinese announcing on the same date july 6th, they will go forward with matching tariffs. we're seeing a unique situation form here. prominent republicans are very concerned about these tariffs. have you them pretty much as a tax. we have democrats actually applauding this action. senator chuck schumer says this, quote, the president's actions on china are on the money. china is our real trade enemy. their theft of intellectual property and refusal to let our companies compete fairly threatens millions of future american jobs. these trade skirmishes affect all aspects of life here in washington. you have international diplomacy, finance as well as politics. back to you. connell: you're right, edward. point out it is very interesting

politics. senator sherrod brown had supporting statement. who would have thunk it. back to you. melissa: jack hough "barron's" senior editor, fox business susan li and john layfield. jack, i will start with you. you watch the markets get roiled by the trade battle, think back to the moment at the g7 when president trump suggested to the world why don't we all trop all of our tariffs, go to nothing. that tells you where he is headed and trying to get. do you think he get there is at some point? >> i'm hopeful and market seems hopeful this is still posturing. i would not describe this as a trade war yet. the numbers are manageable. they're proportional. so we're hoping things will get better. i think one thing really going for u.s. stocks right now the alternatives are so much worse. bonds still stink. the u.s. with mild to moderate

is skill better than your europe on its best day. melissa: john what do you think? >> labor strife in france. italy perhaps dropping out of the e.u. the eu is a problem. china shows data is slowing. u.s. is best possible place to be is the u.s. only thing that could derail this is a trade war. jack is right. market is hopeful it is negotiating tactic. it is crazy one. getting your matches as close to you can to gasoline this could blow up on us but the market is hopeful this will work out. melissa: susan, we saw a huge selloff on the announcement but saw the market claw back at end of the day. it didn't end. it tells you market believes there is resolution out there for the best. >> market recognizes how small numbers are comparison to the

entire trade relationship of $600 billion, right? at the end this is the great post overhang for investors, this trade dispute. that is the greatest and biggest trade relationship in the world. what happens with canada, european union and the like. china, high technology. i would look at semiconductors. talking about semiconductors and chips. a lot of those chips are actually manufactured in china. you're getting pared back when you send it back here to the u.s. connell: trade talk in a moment. let's get to the breaking news nicole brought us at top of the hour, at&t issuing memo of on acquisition of time warner. they told us about the new company name. the new company name will be warner media. some interesting personnel decisions maybe not unexpected but interesting nonetheless. that time warner ceo jeff bewkes is leaving. testified during the trial that might be the case and now he is leaving.

they will put in place a brief transition of john martin who he had -- headed up the turner networks is also leaving. susan, i will start with you on this particular story. you've been covering it a lot. thought what is has been announced this afternoon? >> this is pretty much expected this deal has closed since the department of justice said they are not going to request a stay in that district court ruling but you know right now the focus is on technology. this deal, the floodgates of deal-making opened up. it is not just at&t, by the way had to pony up a lot of doll letters. they are levered with a lot of debt. what does it mean for comcast pursuing fox as well? connell: right. >> there is concern on debtside in terms of non-financial debt. at&t has highest and comcast would be second highest. looking for moody's and ratings downgrades if they do indeed close the deal with fox. connell: we'll talk about the stocks more in a second.

jack hough, we talked-about person nell moves and jeff bewkes and brings up another jeff, jeff zucker. >> i'm not sure this makes any kind of sense. hear done a fine job running that business. at&t is doing the deal for the content. this would be like imagine goes buys, cbs. les moonves, you've been the hit maker for decades, we're the phone company. here is the door. i'm not sure how well this works out for investors. as far as at the top at cnn, if they can do this, maybe they will turnover all over the place. connell: maybe thrill was lot of movement. john stock exchangeky, new ceo, executive takes over as ceo. john, get your thoughts on the stocks. it has been a lot of fun movement here last few days with all the speculation, right? what do you make of it? >> i owned at&t.

own it some time. has a great yield. own verizon. worried about the debt. you loading the company with massa sieve, massive amounts of debt this is all about vertical integration. it is about getting control of hulu, fighting amazon, apple and netflix as far as streaming. you have to have the content. you have to be a massive player in the market right now. when you look at massive scale of apple 1.3 billion users right now of their products you have to be able to compete with that in some way and that is what this is all about. connell: jack, susan, john, thanks to all three of you. we all get used to a new company name, warner media. melissa. melissa: i like it. this course is challenge for many of the top players. here is where things stand on second day of play. jared max joins me later in the hour with more on today's leaders. former trump campaign chairman paul manafort now behind bars. why a federal judge decided to revoke his bail and send him to

jail ahead of his trials on money laundering fraud. president trump holding a surprise news conference and interview with fox news this morning where he slammed the conclusions of the ig report, calling acts of james comey criminal and cited more evidence of bias at the fbi. i will ask bret baier, host of "special report," what if any effect these new revelations have on the mueller probe. that's next. >> what they did during the election was a disgrace. it is probably never happened in our country before. and that is just the tip of the iceberg. what is going to happen when we go further? and there was total bias. ♪

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>> i think that james comey was unfair to the people of this country. i think what he did was a

disgrace. i think he goes down as the worst fbi director in history. by far, there is nobody close and i think i did the country a tremendous favor by firing him. connell: president trump holding i guess you would call a impromptu news conference in the white house driveway after the release yesterday of that ig report. hillary vaughn had quite a day at the white house. not every day you see something like this but tell us what came out of this, hillary? reporter: connell, president trump making it very clear this morning speaking to us right here on the driveway of the north lawn, he doesn't think that the inspector general report hit fired fbi director james comey hard enough. in fact he called him the ringleader and says he should take the fall for what his right-hand man did while he was leading up the fbi. deputy director andrew mccabe did under his watch. >> don't forget all of these people like strzok, what he did was criminal. strzok and so many others,

mccabe as well. >> you mean bias? >> they all work for comey. comey knew everything that was going on. do you think mccabe didn't tell him everything? mccabe told him everything. >> he said that the inspector general quote, blew it when he claimed there was no political bias involved in the clinton email probe even when the fbi's peter strzok was caught texting another fbi employee promising to stop the president from being elected. now the president thinks he should not have a job at fbi. >> go into the fbi, take a poll of the real fbi, not the scum on top, comey and that group of people. >> most of those are gone. >> i don't know how peter strzok is still working there to be honest. >> he is working in hr. >> that is even worse. reporter: connell what is interesting to point out yesterday the white house responded to this report saying they were happy with it. they think it speaks for itself. but today the president clearly wanted to get a few things off his chest what he didn't like in

that report. connell: i think that is pretty clear. thank you hillary vaughn on the north lawn of the white house. medical list back out to you at shinnecock. melissa: here is bret baier, "special report" host on fox news of course. let me play you another little taste what we saw this morning, get your reaction. >> i'm looking at them too, if you don't mind. [shouting questions] >> one second. if you read the ig report i've been totally exonerated. >> collusion -- >> take a look, no, take a look at the investigation. i have a good relationship with kim jong-un. that is very important thing. i can now -- >> wait. president obama lost crimea. wait, wait. that is his fault. it is his fault. melissa: um, you just, you just spent a bunch of time with the president. >> i did. melissa: sit down with him, i don't know what you call it on a plane. sit back sit down on air force one. then he charges out to the front

lines there, what is your reaction. what do you think? >> first time a president ever done that. melissa: ever. >> a news conference on front lawn, according to mark knoller who is the historian. melissa: i like that factoid. >> first time it ever happened. obviously he feels empowered. he feels like the wind is at his back in this situation, whether it is north korea summit put him there or the economic situation or his own feeling about things, he is taking more questions of the he took 36 questions in singapore. he has done a series of interviews. an now he did this on the north lawn. i think it was pretty telling. obviously the ig report doesn't exonerate the administration or him or the campaign. it looks at the hillary clinton situation but he is talking about the fbi and those top people that come under serious question in this ig report. melissa: i thought one of the most telling things about the report is, if you put it to the

side, look at the text, see that there is this common thread through the fbi, from the mueller investigation in russia, in emails, everywhere, and that's struck. the emails, the text, pardon me, talking about how much he hates the president and how much he and page feel it is their responsibility to do something about it, maybe that is what his reference is to? what is your take on that? >> yes, i think that is what his reference is to. there are two sets of texts. there are the page-strzok texts. another set of texts that deal with another two fbi officials or lawyers and those are equally, you know concerning in the eyes of the ig. melissa: these are ones where they say, i think we have them for you, put them up, all trump voters are poor, middle class, uneducated pos. i'm sure everybody can figure out what that means. another employee saying i can't

stop crying. you promised me it couldn't happen, you promised. it makes the point, it wasn't just one fbi official or two. this is a group of people who seem to be against the president while doing their job. do we know if it affected their job? can you make that heap? >> we can't and the ig doesn't but what he does in the 568 pages he teases the next ig report, which is early stages of the trump investigation. remember strzok is in charge of that. melissa: yeah. >> he focuses on that, instead of looking at the anthony weiner laptop with the clinton emails. it is important to put it all with perspective and timeline. what the president did today was stir the pot like he often does and he is driving the news cycles, and he is doing it pretty effectively from a political standpoint. melissa: yeah. you bring up that point about strzok. he was in charge of the investigation for a full year. at that point he lost interest

in it. when you go back to the text. he wanted to be moved off it because there was quote no there there. does that carry any weight you think? >> yes. i think that at the end of the day we'll get another ig report, before you get the mueller report. and we could be, you know, it is the investigation of the investigations. people get really frustrated because you say, we can talk about this all day. who is going to be, pay for what happened that's wrong? melissa: right. >> people at home get really bummed out about this process. melissa: yeah, i don't blame them. bret baier, thank you very much. so glad you're wearing golf clothes. what club is this? >> burning tree in washington. melissa: obviously burning tree is burning. >> we walked the course. it has been amazing here. melissa: fabulous. this is albany. we're wearing our club. connell is jealous. that's okay. >> sorry, connell. melissa: bret baier, thank you so much. meanwhile facebook executives on capitol hill this

afternoon meeting with top republican lawmakers. we'll tell you why. plus are we in the middle of a trade war. the president says we aren't. what does steve forbes say? i want to know. he is giving us his answer after the break. >> he is my friend, president xi. he is a great man, a wonderful guy but at some point we have to straighten it out. we lost $500 billion in trade deficits last year. we can't do that. ♪ about what happened to 'em. man 2: it was raining, there was only one way out. i could feel the barb wire was just digging into the paint. man: two bulls were fighting, (thud) bam hit the truck. try explaining that to your insurance company. woman: another ding, another scratch. it'll just be another chapter in the story. every scar tells a story, and you can tell a lot more stories when your truck is a chevy silverado. the most dependable, longest-lasting, full-size pickups on the road.

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easy to just grab it and go and i can change it on the road. i did photoshoots with my aligners in and you can't see them. a smile is a first impression, that's why i think having a great smile is so important. >> the trade war was started many years ago by them and united states lost. >> you say we're on the losing end of it? >> no, there is no trade war. they have taken so much. last year $375 billion in trade deficit, with china. we had $800 billion over a period of years. each year close to $800 billion in losses on trade. not going to happen anymore. not going to happen. can't happen. connell: this is a big day for

trade no doubt about that, whether you think there is a war. president trump defending his decision to slap tariffs on $50 billion worth of chinese good, despite threat of retaliation from china we've already seen this afternoon. steve forbes is with us in studio, forbes media chairman. always good to see you, sir. >> always good to see you, connell. connell: free trader if there ever was one, steve forbes. is it fair to say we're in a trade war with the chinese? >> no. if the markets really thought there would be a trade war they would be down 870 points. connell: they came back at end of the day. >> there were negotiations. there are mum blinks before july 6th, they may get together to work something out f nafta blew up, real trade war with china, you would see the market down 2 or 3,000 points. the market obviously believes they will work something out. connell: do you believe that? is that how you see things? how would you see the next few things playing out, with the obvious caveat it is almost impossible to predict the way

the president handles negotiations? >> i think they work something out. he will proclaim a great win. they get something in return. the fact of mater, he doesn't want to hurt the economy. that is his proudest achievement. >> right. >> tariffs are sales taxes. when you have a sales tax on products it will hurt the economy. connell: the president is talking about the effect of his actual tax cuts he put in place. he talked about deregulation as well but talked about tax cuts of the to your point he using as negotiating leverage what would be a tax hike. >> it would be a tax hike. there are studies that show, it will take a way a chunk of especially low and middle income earners for tax cut we got earlier this year. connell: right. >> there is something clear. he wants more in return than the negotiators got so far. the chinese offered to buy $70 billion of soybeans and other stuff. maybe he raises 90 or 100 he says victory. on to the next.

connell: edward lawrence brought it up earlier this hour is political cover. you would think eventually hurt the market and economy the democrats would go after him on this issue. the funny part they are the ones who agree with him. most supportive statements came from chuck schumer and senator sherrod brown of ohio. that is where most aggressive support comes up. they don't have a leg to stand on if they want to go after hum on trade which is interesting. >> they see two ways. they want to get back at the constituency trump took away from him last year or the year before. also if it hurts the economy that will help us in the election. connell: also democratic policy traditionally. >> they have been far more protectionist than the republican party. bill clinton got through his trade agreement, he had to have republican support. it has been reversal. used to be the democrats are free traders. now the gop somewhat. connell: before we go back to melissa who is really enjoying herself at the golf course. >> somebody has to do it.

connell: look at us with the suits and ties. get your thoughts on the ig report. she and bret spent a lot of time talking about it. what is your big takeaway when we saw yesterday and heard today. >> deplight the language comey committed a crime. connell: a crime. what is the crime? >> the crime he exceeded his authority. he did things he knew were illegal, starting with leaking, making decisions he had no right to make and this whole thing, spying on trump campaign, it is laid out there in very measured way all the things at fbi, those fbi agents and leaders did, very measured i think ultimately makes it more potent. the president is right. this thing is just beginning. connell: wow. always good to see you. thank you very much. >> thank you. connell: steve forbes. melissa, pack out your way now. melissa: excellent. former trump campaign chairman paul manafort no longer on house arrest but now behind bars. a federal judge revoking bail over new charges of witness tampering, sending him to jail to await his trials for money

laundering and fraud charges. the judge saying this is the only way to stop him from speaking improperly to witnesses. the president tweeting this in response. wow, what a tough sentence for paul manafort, who has represented ronald reagan, bob dole and many other top political people and campaigns. didn't know manafort was the head of the mob. what about comey and "crooked hillary" and all the others? very unfair. there you go. connell: what a day. much more still to come. not backing down, the doj inspector general taking james comey to task for the handling of clinton email probe. why president trump is slamming the former fbi director as a ringleader of the den of thieves. plus round two well underway in shinnecock. we'll have you out there with more action with melissa at the u.s. open. ♪ for our customers.

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>> what he did was criminal. what he i he did was terrible tg to the people. what he did was so bad in terms of our constitution, in terms of the well-being of our country. what he did was hosch. should he be locked up, let somebody make a determination. melissa: tell us how you really feel. president trump tearing into the former fbi director james comey today over the bombshell ig report, calling comey's actions

criminal. joining me gregg jarrett, former defense attorney and fox news anchor, danny coulson, former deputy assistant director of the fbi. gregg, let me start with you, is the president right? is there anything in there that was criminal? >> yes, it would be obstruction of justice. you can obstruct your own investigation. there is a key in the, in the report describing comey's conduct. he made ad hoc decisions based on his personal views. in other words, he was manipulating the system, torting the law twisting facts to reach a predetermined outcome he desired. that is arguably a corrupt act under the obstruction of justice statute. so the president makes a valid point. melissa: wow. danny, let me ask you, you know, a lot of what was revealed here has to do with those texts. it wasn't just peter strzok. there was a lot of other officials. one just identified, fbi

colleague. trump supporters are all poor to middle class, unindicated lazy, pos. this doesn't make people feel good about the fbi supposed to be out there enforcing the law, doing vests. here is how director wray proposes to fix things. >> we'll hear to the appropriate disciplinary process. once that process is complete we won't hesitate to hold people accountable for their actions. melissa: what do you think, danny? is that enough? will will do the trick? >> first of all this was never an fbi investigation to begin with. james comey hijacked a investigation, took it into his own little office where he ran the investigation in a incompetent way and made the prosecutor decision himself. he controlled it from start to finish. i like what director wray had to say. he put desperation between the fbi and cabal of loose cannon

crazy people and the fbi. this, fbi had nothing to do with this case. it was taken away from the fbi and put into his office. the fbi never got a chance to investigate it. remember watergate was run by field agents, iran-contra run by field directors, not the commander that came to a conclusion that was logical. this case was totally unlike that. melissa: gregg, what do you think of that? >> i think that is absolutely correct. james comey surrounded himself purposely with people like peter strzok and lease that page, andrew mccabe who were profoundly bias and the ig report found persistent and pervasive levels of bias. and this is the important part, quote, a willingness to take official action to impact the presidential candidates election prospects based on their bias. could they prove absolutely with

testimony and documents that they fixed it so hillary clinton would be absolved? well of course not. that would be confessing to a crime. you don't reduce it to writing. you don't confess it to the inspector general but the facts are sufficient and inexorable to reach that conclusion. melissa: danny, to restore confidence though, you say this isn't the better part of the fbi but twas the top for a while and there were a number of people involved. does getting rid of that group rid the system of the problem? do you have to look how was this able to rise to this level? how is it not detected before it went on? does there have to be short, systemic change? >> i think you have to remember too, you said it, it started at the top. it didn't start with the agents and i think that there are many, many aspects of this case. i think christopher wray is doing a lot of things to see it doesn't happen again. one of the things will be

training. i'm sure somebody will walk in the door and tell the agents and support people, if you get involved in bias affects your investigations we're going to prosecute you. that is a great message to put out there. it is kind of sobering. i would like to add one thing if i could what gregg had to say. there is also a civil rights violation here. when you conspire to deny civil rights, that is a crime. >> that is right. 18 usc 242 is the statute. danny is absolutely right. abuse of power. melissa: gregg jarrett, good for you. i love that. thanks, guys. he had the number right at tip of his tongue. new worries about anti-conserve tough bias at facebook. how republicans are addressing their concerns with top executives on capitol hill today. ♪ a bachelor.

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connell: we had some gop leaders meeting with facebook on capitol hill about allegations of bias against conservative speech on facebook. ford o'connell joins us. republican strategist. always good to see you, ford. >> always good to be with you, my friend. connell: kind of interesting this meeting took place. facebook has been through a lot. willing to sit down with leaders in the republican party, at least talk about this. what do you make of it? >> heading into the all-important 2018 midterms, republican leaders have a vested interest to make republican activists are not censored on the site and republican stories are not buried. 67% of adult americans get news through social media. at 210 million users, facebook is the best place to disseminate news and opinion. connell: best place for the trump campaign. look at meeting with majority leader kevin mccarthy and

romney mcdaniel, and brad parscale, working on re-election. if you look at interviews, facebook helped them, with all the issues facebook and conservative speech, it was trump campaign took advantage of facebook during the last election. kind of ironic. >> it is ironic. donald trump campaign used fast bike like a stradivarius in getting to supporters. facebook which tends to lean liberal is transparency and openness. given all the what facebook has gone through, they have a vested interest keeping republicans happy. they believe republicans less likely to put regulations on them then say democrats. connell: that is a good point. it brings up a issue how this should be done, how the speech should be regulated or everything allowed on the mat form. that could be dicey. show you something the ceo of "the new york times" said of algorithms. that is a lot of times how it is done, computers do it for us. this is from mark thompson. process of citizens making up

their own mind, news sources are messy can lead to fake news but rob them of that ability and replace straightforward accountability of editors and publishers for the news they produce with a centralized trust algorithm will not make democracy healthier but damage it further. so a long way of saying that we've need human involvement here, or just let the speech go up, let people decide for themselves. how do you think it should be handled? >> it is best to let people decide for themselves but don't believe mr. thompson's words. he is not as concerned about democracy as he is concerned about the "new york times" brand because as i understand this algorithm it will put "the new york times" on equal footing with lesser known news sources. therefore "the new york times" will have to compete. he is more concerned about the "new york times" brand than democracy. don't be fooled by the language. connell: fair point. if you left the playing field that creates other issues from a business perspective for big media organizations. thank you, ford. good to see you. >> you got it.

thank you connell. melissa: breaking news right now. elizabeth holz stepping down as ceo of theranos. that is part of the settlement with the sec. holmes as well as the company was charged with fraud earlier this year by the commission alleging that the company misled investors and customers. connell: wow. a lot going on obviously at that company. the hardest challenge in golf, meantime we'll talk more from shun any cob where medical list -- shinnecock this week where top players in the world are handling one of the sport's most difficult courses. ♪

we are back live in shinnecock golf course. dustin johnson holding a steady lead followed by ian poulter from the uk. anything can happen. here to break it down, sports reporter from fox headlines. tell me where we're at. >> an appropriate song to bump in under pressure by david b bow iks e. dustin johnson won the stavment jude classic last week by six shots. he reminds me of justify who just won the belmont crown. this is what dustin johnson is doing. i don't think he's going to lose the tournament. >> talk to me about tiger. he has the most people following him around here, everyone is in love with him. is he going to make the cut? >> tiger woods is not going to make the cut. 7 over is the cut and tiger is at 10 over par which is going to

make the eighth time he's missing a cut in a major tournament. he started his comeback in december, ranked 1199th in the world. right now he's ranked 80th. a lot of weight loss came off really early. he went from 12500 dow 1200 ando 800 and now he's sitting at 80. someone asked him today can he ever win another major and he said absolutely. they said why. and he said have you seen the way i'm swinging. he said this course is gettable. >> america loves a comeback. thank you for joining us. back to you with some breaking news. this can just coming in, an exclusive report from edward lawrence in washington on tariffs and how much money the u.s. is actually bringing in. the steel and aluminum tariffs. what are you learning? >> these are specifically the tariffs that were instituted on

june isst. the custom borders protection is the one who collects the tariffs. these are tariffs from mexico, canada and the european union only. in the first week the u.s. collected $82 million worth of tariffs in steel alone in canada, mexico and the european union. that's in the first week of this being into effect. $82 million. for aluminum the u.s. has collected from canada, mexico and the european union, $28 million. the money goes into the u.s. treasury main fund. they get 110,000 dollars on implementation of the tariffs on specifically mexico, canada and the european union. big numbers at least in the first week. this cost does get passed on to the consumer or the folks who are buying it within the united states. but these are the figures, what this is what is being paid at the border as the materials are coming into the united states. >> well it's one of the things that we talk a lot about the threat of the tariffs.

but this reminds us that some tariffs are already in place. good reporting, edward. thanks for that. melissa, back to you. more from shinnecock hills on the second day of the u.s. open. we'll be right back. minor acci-o big deal, right? wrong. your insurance company

: it has been a crazy news week wu fun things mixed in as well from shinnecock hills. you've left me behind, melissa but it looks like you're having some fun, right? >> we've got fans coming by in the back, they asked about lou dobbs and they asked if i was vanna white and i said yes. i'm not even kidding. i wish i were kidding. that really happened. >> where's pat say jack. >> she looks awesome. i took it as a compliment. >> enjoy your weekend.

i'll see you when i see you. thanks for having me this week. >> absolutely. no. it's been a pleasure. that is it from here at the u.s. open. the evening edit starts right now he's a great man. he's a wonderful guy. but at some point we have to straighten it out. we lost $500 billion in trade deficits last year. we can't do that. so much of our secret. we have the great brain power in silicon valley and china and others steal those secrets and we're going to protect the secrets. the crown jewels for this country. >> president trump vowing to straighten it out, levying a 25% tariff on $50 billion of china's goods. wwe've got the can bait coming up, how trump will react. more fallout from the ig report. questions continue to mount