apparently not. charles: we made it back to being down 48 points. we were down as much as 180. very tight trading range. neil cavuto. it is yours. take it away. neil: thank you, my friend. we have a lot going on. follow up what you started, charles, the beginning with steel and aluminum. at latest count now it has grown to include pork, cheese, apples, maple syrup, chocolate, ketchup. if they hit scooter pies, ring dings, game over! very happy to have you, thank you, everybody. we're trying to follow where all of this is going. the thing about trade tiffs and disagreements, they become trade wars and potentially worse. canada the latest to get the salvos going yesterday. i would not have known yesterday was canada day, if not for my canadian colleague and friend, kristina partsinevelos. what are they doing here? >> they are going after specific items. they have a list of 120 items,

25% tariffs on steel and aluminum products in retaliation to the united states. 10% on other products. i feel like vanna white. yo further. the reason for yogurt, comes primarily from wisconsin, the yogurt canadians are buying. going after certain states that are president trump's base. ketchup, a big story in canada. heinz ketchup closed their plant in ontario. people are turning to french's ketchup even though an american company. they have a manufacturing outlet in canada. canada said they will continue -- they don't want to be bullied. that is what the media is saying. they're providing $2 billion to compensate manufacturers that might be hit by u.s. tariffs. want to move on to other products. there is chocolate, orange juice. i want to switch over to europe. they retaliated on june 22nd with their items. going after motorcycles, boats, peanut butter.

motorcycles is story of late. harley-davidson said they will move manufacturing overthat's because of tariffs. however harley-davidson says they have been in the creation of creating this plant about a year ago they actually said so. may be propelled forward by these tariffs. so they're going ahead, saying tariffs are pushing them to move some production abroad. however those motorcycles made in the u.s. will be sold to americans. they're still sticking with that. if we move on to china, china possibly some word on more tariffs this friday. china may increase their tariffs specifically on soybeans and dairy products, increase that to about 25% that could be worth more than $34 billion on u.s. goods. this is definitely already hitting certain farmers. you're seeing soybean prices down over the last three months. you're seeing futures for soybeans also down. so, seafood, i didn't really know this, we, americans, here, do sell a lost seafood to klein,

about $1.3 billion worth of seafood to china, especially lobster. that is why that falls into that category. overall the biggest fear is the state of flux for american companies. what should they do going forward? should they be investing. a lot are holding out because they don't know what will happen in the short term. that is a big concern. if manufacturers like harley-davidson, decide to take their plants, maybe even heinz ketchup, to produce for that audience there in canada. people are saying they don't want to back down or countries don't want to back down. neil: when you talk to your canadian friends, what do they tell you? they are rallying around prime minister trudeau right now but in unusual ways too. they don't like the way this has sort of devolved, do they? >> they do not. me coming out saying i'm a canadian, a lot of canadians feel like they're being bullied unfairly, especially secretary

of commerce wilbur ross on june 20 say, you know what? we actually have a trade surplus with canada when it comes to steel. there are inaccuracies there. canadians don't feel like their products are a threat to national security. they feel like finally they need to step up to the plate. all three big political parties in canada joining force, we agree. we should put the tariffs out. if anything canadians can buy alternatives or go overseas to cheaper country. neil: they appear to be doing that. kristina, thank you very much. >> thank you. neil: as kristina reported u.s. companies are facing folks for the worse, gm, polaris, they could affect jobs and operations going forward. to a global automaker. john, you have been concerned, warning about this could get worse. there are signals it is certainly not getting better. what do you think? >> i think you're exactly right, neil.

we have been talking about this for quite some time and it is getting worse. call it whatever you want. call it trade war. call it tit-for-tat. there are real consequences. we're taking hits right now. neil: now, these, u.s. automakers, you know, gm, of course the first to say, i notice the president didn't cite them like he did harley-davidson, said it would move some jobs overseas but gm has a legitimate beef here and i'm wondering if others start echoing that and risk the rage of a presidential tweet because it might not register now, right? >> yes. neil, you know there are 13 car companies building cars and trucks here in the united states of america. gm is certainly one of them. it has been here for 100 some odd years. a lot of car companies are building here. all are saying the same thing. which this will raise prices on consumers these taxes. it will make it more expensive to build cars and trucks in the united states. all not for nothing, we'll

invite retaliation which means we can't export as many cars, it is a lose, lose, lose proposition. why you hear gm, toyota, honda, ford, everybody talking about this. the risks are significant. and certainly the uncertainty in the near term is already creating problems. neil: what is interesting, so many of these companies, foreign companies as well that have u.s. manufacturing plants, a lot goes back to the japanese carmakers case to ronald reagan when he wanted japanese automakers voluntarily limit their exports to the united states. so a lot of them set up operations here in the united states for which they are not being rewarded now it seems. >> yeah, you know, these car companies, may have started out as small import manufacturing, sales and service. so you have an entire value

chain that supports american manufacturerring. the international car companies alone employ 1.3 million americans across that whole value stream in the automotive industry. so it's a significant investment. a significant opportunity to continue to transform communities and employ americans. we don't want to lose that. >> you know, do you think the president has a method to this though? i get the feeling that he is kind of playing it as he goes along. >> yeah, you know, that is obviously a question for the president and for the administration. we're concerned that regardless what the strategy is, that the results and reality could be different than what we hope. we certainly don't want to make it more difficult to export cars and trucks built in america by americans. we did that two million times last year. two million cars and trucks got exported from u.s. plants around the world. if we penalize those exports,

that is eight assembly plants worth of annual production. i'm not sure what the method is here but let's make sure we get more trade and more trade agreements and that certainly i agree is what really needs to take place now. neil: a lot of people didn't think we would get to this point where the tariffs would go into effect from the other side. we thought we would avoid that. doesn't look like we have. john, thank you very, very much. >> thank you, neil. neil: in the past if we had grievances on trade we went right to the world trade organization, the wto as its known. there was talk that the administration was seriously junking our participation in that, and revising whole range that we have right now. "axios" reported it is being considered even though, even though wilbur ross is saying no such thing is. let's get the read on things with "axios" reporter. eric, i'm sorry what is the real deal here? what is the administration saying about the wto? because i know they're not big fans.

they don't think it helps us, but what do you think? >> order for this bill came straight from the president. there is reason we should take this seriously. this has gone through the u.s. trade representative. the draft we received is the second draft. it has gone through commerce. this is something taking very seriously the administration. administration officials know this kind of move is dead on arrival. neil: you need congressional approval? >> exactly, exactly. we report on friday the president said, many, many times privately he wants to withdraw from the wto even he knows it is kind of a radical move. neil: is his sense then to advocate that, erica? he thinks the wto doesn't do us any favors when in fact it does? we win more of our cases by far than we lose? >> right. so there is two sides. you're right, that we win 86% i think of cases higher than average, compared to china's 67%. we had a big win with soy. the president is right, the wto

is in over its head especially this current trade situation. one example they have no method to dole with intellectual property theft, one of the president's biggest complaints against china. and no way to deal with state-owned companies that is the one of the biggest headaches. neil: wto does not recognize that china advanced from a developing nation to economic powerhouse. i can understand that. >> exactly. neil: where are you getting a sense this is going? with all trade wars in the past they veer out of control? in the beginning focusing on steel to aluminum, now on 800 products, everything from maple syrup to cashews. it is nuts. >> the u.s. could find itself isolated pulling back from multilateral agreements. the president feels only way to get a fair deal of trade to negotiate one-on-one with every

country. neil: that is a lot of countries. >> that is what he likes. one-on-one with the counterpart, no international deals in his way. on the wto note, there is something there is no policy process at the white house at this point to pull out of the wto, but something the president keeps returning to. we've seen before if he keeps returning to something sometimes he will go ahead and do it. neil: he is savvy, pragmatic enough to accept the half-full glass and full glass he wants and south korean deal is reminder of that he got some concessions i would deem minor concessions he could point to some things better than we had prior. in the end is that what we're looking at here? the canadians might do something about you who they treat our dairy farmers? the chinese might do something how they deal with intellectual property or u.s. technology firms that want to do business over there but it will be just around the edges but better than it was? >> right. that is definitely a good bay of looking at it.

that is the most likely scenario. the president goes far and lays out demands. pulls back a little and settles for a more, what the world would consider a reasonable deal. we saw that with investment restrictions on china. neil: right, right. he. >> he threatened restrictions. markets were roiled. he said i will defer with congress, go with the existing, make what we have stronger with foreign investment review. definitely something we've seen before. neil: let me address real quickly, republicans, not a lot but enough to be concerned that the president is doing all this unilaterally and they want to tighten restrictions so he can't impose restrictions on his own. that doesn't seem to be going anywhere. they're obviously keeping an eye towards november elections, fearing that the gains we got from improving economy and markets today notwithstanding could be very short-lived because this could undo it all, right? >> becoming conventional wisdom the benefit of the corporate tax cuts has been blunted by tariffs. harley-davidson is great example

of that. neil: right. >> they had 700 million stock buyback with the corporate tax cuts, a great sign of progress but now with the threat of eu retaliation they're moving some production eye broad. neil: the president got that, that the they were using trade thing as excuse to do something they always wanted to do but he didn't lash out against gm? >> i think it is harley-davidson's americanness he is talking about. resonates with his base. it is americana company and that is, seeing them moving abroad i think really struck a chord with the president. neil: i think you're absolutely right. erica, thank you very, very much. "axios" reporter, erica pandey. large international concerns, boeing, deere, some of the others outside the dow, they would be ones most vulnerable to a hit and they are getting hit. more after this. ♪ man: i got scar tissue there.

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weeds it would be continuing trend of better-than-expected earnings, or better earnings than the prior year and momentum seems to favor this continuing for a while. the question how long of a while? money morning.com, dr barton and, scott hodge. scott, i apologize. it your sense earnings are strong when we get them from the second quarter? we're year-over-year comparison with a much higher tax rate versus lower tax rate but that the trend will continue? >> yes, exactly, neil and i think that trend is, there is a lot of the tax issues built in but i think we've also had some economic momentum helping us here. and i think the thing to watch for, as we go along, how many, how many companies are reacting postively to positive earnings. you are remembering last quarter

companies with blow out earnings. they pop up a little bit and get slammed for a few days. i think expectations will be slightly more muted this time but i think earnings season could lead us to a nice little blow-off top as we move forward. neil: scott, the president seemed to intimate with the chat with maria bartiromo he is opening cutting taxes in a second wave a little more, 21% to 20%. making individual rates permanent that has been bandied about before but what would that do you do you think? >> that would cabinet positive. other countries are looking to lower corporate rates because the big cuts that reduced our corporate rate. we're seeing more corporate tax competition, if you will. it would be a good thing to lower the corporate rate t would add some certainty in what is now a very uncertain corporate world with all the tariffs hanging out there. we estimate, our tax models estimate, if all the tariffs go into effect it, could carve back

25% of the economic benefits from the tax reform act. that is a bad thing. neil: the president always argued that we're in a very strong position, that is the u.s. economy, u.s. markets, bumpy as our markets have been, certainly chinese suffered more, into bear market territory, 20% from the highs, from the 2016 lows, so they have to come back to the table. that is sort of like the hope, inevitable realization, so hopes that they come back. what are your thoughts on that? >> well i think the president understands that he has a really strong hand and you know, if you look at just the pure numbers, you know, china, china exports 43% more goods than we do. they, we import 23% more goods. so there is a big imbalance there. they have more to lose in the short term and the long term than we do and is the president

overplaying his hand? that is what the markets keep worrying about here. is this more negotiation upon negotiation and he wants to make good on more free trade down the road by getting some concessions here? or will he stick to his guns and start having companies pay these numbers that we're seeing? that's the big question and i think we're seeing the markets say no, this is a negotiating ploy and it's all going to be food down the road. neil: they are giving him benefit of the doubt. i don't know whether that is justified but they certainly are to your point. gyrations notwithstanding today or last week. scott, i'm curious as to effect on average americans though, who are seeing whatever tax savings they're getting, getting wiped out potentially paying a lot more for a lot more goods? >> neil, i'm afraid president is playing chicken with the american economy and not just the chinese and europeans.

we estimate the current tariffs has the potential to eliminate as many as 48,000 jobs, but if all the countries including the united states, up the tariff game, we're talking job losses up to 340,000 jobs this could affect average americans. let's not forget, tariffs are paid by american taxpayers. this is not a tariff on chinese per se, this is a tax on american consumers. so they are the ones that will be paying the price for us trying to punish the chinese and europeans. neil: gentlemen, thank you very, very much. that puts it in perspective. as both these gentlemen were intimating, tariffs are not something governments pay, something you pay. could be avoided someone blinks, someone agrees to do something the other side didn't envision, but in the meantime when push comes to shove and canadian tariffs will already be implemented. so you will pay a lot more for a lot of these goods, the fact of the matter is, it started, it has already started.

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neil: ever get the feeling facebook can not get out of its own way? some user information came out again. i could give you details. it is up on our website. it is latest chapter but something nyu marketing proprofessor scott galloway was way ahead of talking about big technology names that led the market higher, amazon, apple, google, and of course the aforementioned facebook. thanks for coming. >> thanks for having me, neil. neil: i want to quickly get to facebook. what is the latest thing? every time they say, that's it, there is nothing more, we're on top of this, something else comes up. what else is going on? >> you're exactly right, something you will never hear from facebook, not as bad as we originally reported. only thing you know for certain is things get worse. in this instance after 2015 they

were no longer sharing this type or this robust data set. ends up they were with multiple platforms, including chinese platforms, which presents a security risk, the onion, every time you peel back the onion here, you find out it was worse than originally reported. neil: you know, back in the winter, you wrote an excellent piece looking at influence, size, disproportionate weight of some of these technology behemoths that grew rival gdp collectively of france, if by the way that is a worthy goal but leaving that aside, you said, might look to rein them in a little bit. this is not an indictment of the four, referring to amazon, facebook, apple, and google, key health, pruning firms when they become invasive.

what did you mean by that? time for regulators to come in, for each and all of them to be addressed, what? >> yeah, i think regulation could have unintended consequences. i'm not a fan of regulation, and i think it can be expensive and ham-handed. i believe the regulation in europe, gdpr, will not only constraining them and cement their position. my point, time to break them up. we're at a natural part in the economic cycle, a few companies with excellent execution, lock economic environment end up with so much influence that small companies can't get out of the crib and big companies that are traditionally better employers are prematurely euthanized. these companies effects -- effectively dominating their power. and exercise their mow moply power. when we unleashed ma bell, we found out fiber and technology were lying dormant in bell labs

and. we're at this point now. 92% share of search, one company, google, amazon, loses or gains the market cap of federal express in a day. can take tens of billions of dollars out of a sector by announcing acquisition of 100 million-dollar company as we saw yesterday with pill pack. time to oxygenate. they haven't done something anything wrong we haven't been doing that. elected officials hold scrutiny with other companies did. neil: be careful when you wish for, go after amazon, aggressive moves it made to acquire companies, just doing so can wipes tens of billions of dollars out of those respective businesses, the question becomes how you break it up, and what you do. you mentioned the at&t example but it might not apply here because, these are such tangled webs, what do you think? >> i don't think it is that

hard. most of these companies, the road map is to look back. why does facebook, intragram, whatsapp, messenger, four of five apps in the world, all set their guns in uniform attack on number five, snap, putting snap out of business as we speak, why wouldn't we spin intragram? why wouldn't we ask them to spin whatsapp? why does amazon need to own aws, one of the most profitable sectors in technology when they can subsidize retail platform? when chinese came in priced below dumping. when amazon does it we call it innovation. i don't think breaking up the companies would be that difficult. neil: if we do, and whatever justification is taken for that, the fear is it could lead to a bear market. that the initial reaction would be to sell, it was a bumpy ride originally for ma bell before seven spin-offs of the technology that it inspired but it would be a rough adjustment

process. what do you think? >> so i want to acknowledge there is no free lunch. it is impossible to imagine there wouldn't be losers here but you know, i'm voting with my wallet. i own their stocks. i believe amazon and aws is two separate companies would be worth more than they are as one. i think facebook, i think instagram is the most valuable platform in the world, would trade ad incredible valuation. i'm not convinced shareholders wouldn't convince, wouldn't benefit from a spin of these companies. neil: all right. might be forced on them one way or the other. very good seeing you again, scott, thank you very, very much. >> thanks for having me. neil: all right. did mexico just elect their own donald trump just on the left? why the new guy coming in is ready to fight big time with the guy in this country already very much in. ♪ (♪)

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neil: all right, it is not working the way the president would want it too. the president is making a pitch to tell saudi arabians, could you increase, highly suggesting, strongly suggesting, their oil production by about two million barrels per day. don't know what kind of commitment the president got out of the saudi prince, talk of that normally would send prices southward, on increased supply would go for more increased demand didn't work. to phil flynn what he makes of that. phil, what do you think? >> i think that the old saying is, can you drill yourself to energy independence, neil? you can't tweet yourself to energy independence either. so apparently it didn't work. i think the reason is, is because the market is starting to realize, saudi arabia didn't commit to raising production by two million barrels. if there was a strong commitment by saudi arabia, we probably would have seen the price of oil go down a couple dollars a barrel. but even if they did commit to that increase of two million

barrels, neil, it would only be a short-term fix because the real reason why oil prices is rising is strong global demand. we've got global demand on the cusp of hitting over 100 million barrels of oil a day here in the u.s. we're demanding more oil than we ever had before. to be honest with you, increase in price was actually moderating demand. if we lowered prices artificially by getting saudis to raise production for a short-term situation it would only help us in the short run, demand would go back up. we would use up the extra oil, we would be looking for more oil. there isn't anymore oil in the world really we can get to very easily. it would only have a short-term impact. neil: for drivers, july 4th week, into the weekend, this summer, are things at a constant here? levels are fairly high. i guess they could be higher still? >> yeah. i think refiners have done a

great job keeping prices low. can you imagine, neil, if 10 years ago if we saw the oil prices at $74 a barrel, we would be talking, 3, 3.50 a gallon. neil: absolutely. >> that isn't happening. refiners in the u.s. done such a great job raising production. they're producing record amounts of gasoline. what is amazing consumers are not showing any adverse reaction to the high prices. gasoline demand numbers continue to be near record highs. apparently because the economy is doing so well, consumers are grinning and bearing it when it comes to filling up their tank. neil: thank you, my friend. always good seeing you, phil flynn. >> thank you. neil: a lot of u.s. energy interests are a little bit concerned what happens south of the border with this big liberal victory on the part of obrador. he won big. he got entire government to go his way. complete run of the table, has sweeping liberal victory has some wondering whether we have a

version of hugo chavez, former venezuelan strong man right south of us in mexico? that might be a bit extreme. let's get read from heritage foundation latin american policy analyst. anna, thanks for joining us. what do you make of this guy? >> he is is clearly a leftist, a populist, a very big nationalist. if you scratch the surface, you were talking about before, his communist roots are there. this is 2018. this is mexico in 2018 and there are enough factors that will kind of keep him in place that he won't go of at deepened. neil: you always hope that is the case. now the rogue's gallery of a lost chavez types, most of them out of power now, have been praising his victory, saying it is a sign of things to come for the region what do you think? >> i think, look, communism has lost the 21st century war of ideas, right? we clearly see evidence, case in

point with venezuela. the dire crisis of that country has proven that communism and socialist economic policies simply do not work. amlo has seen mexican people will elect out parties not serving their interest. decimation of the traditional two-party system. amlo has you mentioned with his movement and has control of congress. elections happen in six years. if he doesn't prove his worth and he doesn't address the underlying issues that got him elected, mexicans will vote him out. neil: might be a response of government that has been overtaken. i wonder how he would get along with donald trump? some says it kills the nafta agreement. others argue the opposite, it might hasten one, what do you think? >> i think there parallels between amlo and president trump. both were essentially elected by constituencies who felt

disenfranchised by the political, economic elite and both are serving interests of respective countries. very few things more in the u.s.'s interest or mexico's interest have warm relations with the countries on opposite side of the border. i would hope am low would recognize immigration and testimony perrett rick allowing central american migrants north. and nafta. i hope an agreement can be reached that would benefit both leaders. neil: amlo is short for andres manuel lopez obrador, he goes by that right? >> yes. neil: when he takes over officially, he talked very much about corporate interests that seem to have eclipsed the average mexican citizens' interest, what is he saying, what is he telegraphing? >> he is specifically telegraphing the rampant corruption that exists within the country, particularly within

the public sector. mexico currently has 14 current and former governors either under investigation or sitting inside of prisons. one governor who embezzled two billion in public money. so that is the corruption that he is talking about, that public sector corruption, colluding with the private sector and with criminal interests. that is what he, i would haj is trying to root out. we should be wary though to make sure that his anti-corruption campaign is notlyally targeting one particular, political opponents because that would be dangerous. neil: so but your rationale here not to show a socialist, liberal wave south of the border, in colombia the conservative candidate was elected. >> exactly. neil: there is no way to say this is carbon copy of one sort of left-wing leader after another? >> no, it is simply not. the left in latin america is claiming there is resurgence of the left simply because, there

the left is dying. we've seen a great regression, a rollback of the pink tide. you have conservative elected in colombia. another conservative elected in chile as well. these are two countries where the left had significant strong hold last few years and i anticipate that being the case. el salavador, controlled by leftists having elections next year i think conservative party will win again. i think we're seeing conservatives in the region gain momentum. neil: anna, you know your stuff. very impressed. i learned quite a bit. thank you very, very much. >> thank you. neil: we'll see how it sorts out. lebron james, people tell me is quite the basketball player. he is going to the l.a. lakers. if he had gone anywhere else he would have saved a lot on taxes. that apparently didn't matter. when i look at the size of this deal i begin to see their point. after this. in high school.

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saved ton in taxes but obviously that was not his first goal. what do you think? >> well, you're right, neil. if he had come to the houston rockets in texas -- neil: forget it. >> he would have really saved a lot of money and, probably won a championship but, you know, lebron will be successful anywhere he goes. he is the best individual basketball player and team basketball player in the nba right now. and so i think, he had a lot of media interest with uninterrupted, with spring hill entertainment out in l.a. this was something that was a decision made on behalf of his family i believe. so, you know, he can pay the taxes. he can afford the taxes. neil: yeah, i guess he can. what i did notice, not to get too far off the subject, maybe i didn't know this, you pay the

state tax wherever you play during the course of the year. that's got to be very, you know, detail, you need like a s.w.a.t. team of accountants just to keep track of that. >> well, that's correct. so let's say, typical regular season nba schedule is 82 games, and they play 41 of those games at home. neil: right. >> so he is taxed on the 41 games at whatever the state rate is. if he played for the houston rockets or dallas mavericks or san antonio spurs, he would pay no income tax because texas doesn't have income tax. but if you plays in california or new york or pennsylvania, then he will pay the appropriate state income tax on those games. then they obviously work out, you know where he plays his road games and tax him accordingly. so, you're right, it's, it is a complex situation taxwise but this is what happens with these

greedgy governments. they have to get their hands in the coffers and pay for all the dole-outs they give. neil: i assume not just basketball? , you know, baseball players as well, you know. you sort that out in the town that you're in? >> that's correct. that's correct. so major league baseball, the national football league, all sports. and, so that has been, some of the challenges, you know the nfl wanting to potentially put a team in london, you know, how do you deal with the salary cap situation and then, you know currency exchange differences and things like that. neil: wow. >> so there is a lot going on in the sports world. neil: still a lot going on in the tax world, if you indulge me what is happening in my state of new jersey where the governor has just imposed a millionaires tax, at least those five million and over, tax on corporations

that will soon be hiked from 9% now to 11 1/2%. the idea is to raise a lot of money, increase spending by about 4 1/2%, but i don't see any effort to control government spending. i see a lot more of an effort to raise revenue for that spending, and more spending at that. what do you make of it? >> well, you're right. i love it. living in texas, we're open for business. we welcome everybody. we love to have cavuto coast to coast broadcast live from north texas. neil: i'm looking at my options. i think you're right. wonder, this flies in the face of what you would think would be common business sense let alone what is going on millionaires side, what is going on corporations leaving the state in droves. i can not imagine this is going to bolster their argument to stay? >> well, it's not and you've seen that.

texas has, has really reaped the benefits of the very liberal, social, tax policies of california and illinois and new york. now, some people that are making five million dollars a year, let's face it, they're going to be able to pay their taxes and still maintain a high standard of living in new jersey or new york. but you're right. the more that these state governments continue to tax individuals or corporations, neil, there is a tax right now apparently in california they're considering, asset tax. if you had a second home in california and you know, palm springs or santa barbara, wherever, they would tax you based on the total value of your assets, which would include that house. so people that maybe live in texas or florida, but also have a second residence in california, i think you're going to see retired people living on

more fixed income, even if they're wealthy, they're going to start selling those assets and getting out of there, who wants to, you know, be a sitting duck for a government to come in and just tax you on everything you own? it is government out of control. neil: to your point, i find far more creative coming up with ways to raise money than rein in spending money. coming up with ideas how to slow the revenues. never ceases to amaze me. but keeps happening. >> well, that's why we have politicians that are, are amateurs and not professionals like you. they're not business people that think about that. you know, they, instead of creating transactions and creating commerce, they just think the best way to do it is to tax and take away from those who drive revenue and, then reapportion it to their

constituents. and it's, it is a zero sum solution but, hey, at some point i got to get you out to a sports event. major league baseball all-star game is broadcast on fox, on your network in two weeks in d.c. any chance i can get you and gasparino down to the all-star game? neil: you don't want us together in any all-star game unless you have a very large food bill. we'll talk about that. john, very good having you again. be well. >> thank you, neil. neil: it is amazing. but again, to john's point here we're so incredible way we go about this, always these governments. not only in states like connecticut and new jersey and illinois, that always come up with these ideas how to add surtaxes. they never get the money they estimate. they are always amazed afterwards how they never did, because money is mobile. it moves. more after this.

.. .. whoooo.

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risky, why they had to include that in the next is anyone's guess. it is officially out of control right now and that is largely coming not from the chinese, but the canadians and by the end of the week we are told chinese. it's getting a little dicey. edward lorenz on the growing dizziness of that. he was next, what is next. >> i can say the latest is the canadian tariffs are the additional terms went into effect on sunday. i talked 30 minutes ago with the foreign ministers office and they said there's no change in their position. they believe canada is not a national security risk to the united states. the president donald trump saying that is not the point. when you have any tariffs against the u.s. couldn't canada does have tariffs against u.s. goods, that affects the u.s. companies and their ability to survive as well as u.s. workers and bad effect on the national security of the united states. this is what this is that the president of the united states had to say about what trade should be.

>> first of all, i love free trade aired at the g7 i have an idea i'll guarantee you will do immediately. no one pay any tax. no barriers, no tax. are you all set? can it coming out when you get 275%. we are going to take down all of our taxes. reporter: the president says you'd like to market to decide which products and industries thrive. u.s. products are good ones. like ours, for instance commend the european union charges as 10% tariffs on cars going into the european union. we charge 2.5% coming into the united states. to level the playing field there should be a 20% tariffs on cars coming into the united states. on friday, the european union sent a 10 page report to the commerce department and detailed by the current tariffs and any new tariffs are unjustified. it also threatened $300 billion in more terrorists. a spokesman says that effort will spare no effort be a

technical or political level to prevent this from happening. we've already seen appeals from the french president and the german chancellor to get the u.s. to back down and tariffs. the president says drop of a terrorist as the big german automaker companies would like to see in all of it goes away. this is kind of developing into a global game of economic chicken. neil: and no one is winning. thank you very much my friend. a look at the latest on whether any of this comes to pass. a lot of these tariffs has kicked in so we don't have to wait for that. this is something that governments don't pay, you pay, which is by the chamber of commerce, and specifically this president is rallying against this. campus director reformed.org. we've got moody's managing director john lonski and last but not least, chief market strategist quincy crosby. quincy, this looks like it could

get wildly out of control. >> it does look that way. the market seems to be thinking that at some point negotiations will begin. that is what the market is looking for. for example, the chinese deadline is july 6th. the market wants to hear we are delaying and rebooting negotiation. that is the other ratio. the market i thing as claiming to the idea that this could get very serious very quickly. >> it is certainly very much concerned. it's also worth noting the equity in china, germany, places like that are doing much worse. i think 16% year-to-date. ever since this became an issue, the chinese market is down by nearly 9%. neil: the president said they need to come to the table more than we do. >> by business gamble. they are very patient.

>> that is the risk that he is taking. they could end up doing a lot of damage to the u.s. economy and take away all the momentum we now have on the labor front and that could prove to be costly come november. neil: have you heard about the whiskey? are they getting anxious? america first. it's still satisfying to stick it to other countries and protect american workers and american jobs. people realize tariffs are like he said attacks on american consumers and i think it's going to hurt them going into that narrative. they also disproportionately impact trump voters and workers in industries that have traditionally supported trump and losing their support on that. young people will be in d.c. this. we saw apology after the tariffs that were put on refrigerators

and things of that nature and young people will see this as they get out of college into the real world. uncertainty in the market as well. >> the flipside is a lot of people look at this and say if this is what it takes to force cheaters fans worldwide, so be it. but that is a suicidal passes in a? >> unfortunately in this as part of the insurgency in the market. we just don't know. the fact of the matter is you do have to upgrade some of these agreements. there's no doubt about it. times have changed. you look at china's position in the world, second-largest economy. when they came into the wto, which also has another issue on the market right now. it was a true emerging market. neil: it still categorized it. >> to begin the negotiations of 1986, finalized in 2001 and still to this day enjoys a

number of the concessions that were actually afforded them without status. it is understandable. like many things it's not like what you do, it's how you do it. neil: john, do you think there's a method to the president's madness or it might just be madness? >> will find out whether there's any logic or madness. we've got to be paying attention responding to these different proposals. the market continues to sell off. that is going to her business investment spending, business hiring. >> to think he surprised? >> offhand i don't think so. maybe what he surprised by is the willingness of other countries to retaliate the stubbornness on the part of other countries to enter into some negotiation that could bring about the type of trade deals he's looking for. neil: the deal among people

right now as they were like in the tax cuts, liking economic improvement and that has been the wind at the president's back. >> this is something that may play well and people like the idea of leveling the playing field and realize the implication on their own life and it's also important to take a step back and look at this from a political standpoint. the way president trump is change the norm in the republican party to see the republican party be anti-free trade and anti-free market in embracing things like tariffs and trade wars you wouldn't expect to see. neil: a couple senators were finding away to check check the president on this and they realized they were going nowhere fast, so they dropped it. >> in many ways a lot of republicans have free election in mind that they don't want to go against president trump for fear of reelection in being primary. going against president trump has been getting reelected at the republican. just the way it so quickly

evolved while republicans hold its principles is something we should keep in mind. >> the average voter is asking me, how do terrorists hurt me as an american come as a consumer? if they are not convinced this will do any damage and if anything these tariffs might actually benefit the economy overall. they don't realize that this involves consumer prices and the loss of jobs in those industries that use steel that other inputs, aluminum and whatnot, bumbler. neil: but i also wonder whether we are being honest here. when you look at the average tariffs the nations impose on others. ours is around 3.5%. the canadians find individuals. targeting suvs from abroad and sopping double-digit tariffs on those. so how does that sort out?

>> that is the issue. there is another element to this and that is how the white house sorts it out. we get different messages from different players within the white house. you notice how the cable news shows primarily focused on the market to say it is not what you think it is. it's really this. exactly. that's important because the perception is that there is no one theme, no one message that needs to get out. there was his against fair trade or against a level playing field. absolutely the democrats agree with that. the negotiating table or just saying do this and don't do that. i'm looking at this. the market can deal with bad news and deal with negatives.

neil: nervously optimistic he will do so again, but his bat space misplaced? >> we don't know yet. the market is starting this third-quarter negative. but it's barely contained. it's not outrageous. i think this is going to be a play-by-play. and that is how the market is functioning. the fact remains that with the dollar rising, even as a safe haven current be for the idea that our numbers are good. look at manufacturing. we haven't seen numbers like that in years. the dollar rising, the federal reserve is active. it is putting amazing pressure on emerging markets. by the way, american companies sell an awful lot to emerging markets because those are the growth areas. so there is a negative than

positive and negative than positive and the market's job is to sort this out and put you in equities or stocks or currencies or whatever that are going to do better. that is what the market's job is. train to the customers and the item they want to get is more expensive. they find another item that are all like items not been affected by this. >> and letting people decide for themselves that they're willing to pay more. i think most americans would prefer to make decisions for themselves on purchasing and not have the government in which industry they are seeking to protect and not protect. >> the president actually said that to a number of folks on the campaign trail. remember, he said that our jubilant to pay more just for more jobs in america? it sounds good but in reality look at how we put out a business in main street america in order to get cheaper goods.

>> americans should have the right to decide if they're willing to do that and decide to pick up the litter and what products they are willing to pay a little bit last. i think ultimately it comes down personal safety. >> meanwhile, in the dollar is getting stronger against the chinese currency. an effect on the u.s. exports are getting more expensive for the rest of the world while imports to the united states are becoming cheaper and that sort of goes against all of these tariffs that the u.s. government has put into effect. neil: we are down about 140 points. we been worse, also been better. i think pretty much that is the just to get a nice. there is no way of knowing right now. what we do know right now is the president just resorted a grenade into the trade morass here, with the hope being that cooler heads will prevail. so far, no indication that is going to happen. we shall see.

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we will go to blake burman at the white house with more. turning tide fair, neil. the president's counterpart from the netherlands to be greater prime minister. he will be here for about an hour to sit on top of the president. a couple different issues in place. president trump will be headed overseas next week at the nato summit. the netherlands a nation of nato. this will certainly lead into that. but also, the president continuing to talk about how he would like to see trade deals with the european union changed. maria bartiromo couple days ago. the president continued the threat of potential imposing a tariff of 20% on cars coming into this country. a couple different topic that could be on the plate for this meeting or 45 minutes from now. in the meantime, the trump administration is keeping tightlipped on a couple different north korea headlines north korea headlines we are working through today. ask the u.s. is now reporting u.s. officials are optimistic about a round to meeting in new

york rather between the president and kim jong un, possibly in september wrapped around the u.n. general assembly. we made a couple calls on this one. security officials we've spoken to are being very tightlipped. they are not commenting at all. also the reports are based off of satellite images shows that north korea appears to be building a missile manufacturing plant. the national security adviser john bolton over the weekend would not comment about the report, but he did to dish out some renewed skepticism about the north korean's intentions. >> but there is not a name starry eyed feeling among the group doing this that were well aware of what the north koreans have done in the past. >> president trump met at the white house a little bit ago was secretary of state mike pompeo heading over to north korea we believe at some point here in the near future.

>> like burning. thank you very much. north korea right now on what's going on there. the critics of the president say that they're pulling a fast one on us right now. a couple things. one facility getting nuclear rice quake and another that shows nuclear ambitions that are increasing, not using too nuclear showdown. best-selling author put on all things having to do it by region. gordon chang, on the nuclear front, is it your sense that the north korean are beefing up, not scaling down? >> that is incontrovertible. the satellite images taken nine days after the summit showed that they are improving the cooling system of the five milliwatts reactor -- megawatt reactor. that clearly is inconsistent with the notion they want to give up their weapons. the most recent report that the north koreans are building a facility to build more parts for

their solid fuel missiles. that is also in can to stamp at the notion that they are going to give up their weapons. all of this as either one of two things. either kim jong un deceived president trump or does not control the military in north korea. can they want to give up his weapons but the generals may not. neil: the nuclear facility, they could come back. for energy purposes, nothing to do with some of these other things that have been cited. you say what? >> the light water reactor could be connected to a great, but the most insensitive reactor is five-megawatt reactor is not connect it to a grid. there is no peaceful uses for the plutonium that comes out of that react there. so you know, this is not a question of opinion. this is just for north korea's program is and they seem to be improving that plutonium reactor. that is a very bad sign. >> wouldn't they know that we

would know in the world would know that this was fairly easy for us to check. >> of course. they know the set of satellite and it may well be kim thinks he can push president trump around. after all, he saw the chinese pushed trump around on dte -- zte that he very well may think he could do the same thing. also remember that xi jinping him in the chinese roller mat for him at the second meeting and essentially after that, kim had a very different attitude towards president trump. that is an indication that kim thinks he doesn't have to worry about what the u.s. thinks because he's got china added back. neil: very interesting. always good chatting, my friend. gordon chang. the atlanta fed is out with an estimate right now on the quarter just completed in the gdp growth. for .1% now from an earlier rate of about 3.9%. keep in mind in the beginning they were talking about it could

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neil: window week from today the president will make his pick to lead the supreme court. but already republican senator susan collins of maine and dictating that has a problem with roe v. wade. chris bedford debut for the president to sort of hedged his bets, get democrats on board. it won't be easy, will it? you make no comment not going to be easy. there are two camps kind of pushing back and forth at once as they got to get this done right now if you want to change and make it more conservative. others say we should wait until after the election because the republican party may invigorate

their base, which is a risky move. murkowski and collins have made it clear with her upon the care about and now probably what the supreme court to one of the highest values they hold as abortion and protecting planned parenthood a half a billion dollars abortion industry. if they are not going to vote for the supreme court justices had roe v. wade should be stricken from the books. neil: did they vote for neil gorsuch? >> that was before they thought there was any risk. now people are more afraid. also, i'm wondering if we will see that level of cooperation again. a couple democrats came over and voted as well. people are looking at heitkamp, donnelly, joe manchin, three people in states that president donald trump one by many, many points. will they go back or stand with the party's base in a no-win for donald trump. >> what makes this a little bit heightened sense of urgency for republicans here in democrats who have their concerns that

this will be a court is that you are replacing, you know, a tiebreaker vote with one who's on the conservative side. but history tells us that the justice you appoint or name is a necessarily the justice you end up with including anthony kennedy himself. >> absolutely true. they kind of go both ways and was called a dealmaker. i think that all camps would be satisfied potentially if they could put forth somebody who said just like gorsuch said that he or she supports the rule of law, select president and not some kind of act is to remake the courts and take into account the supreme court has ruled on before. that will bring over a likely some democrat, probably certainly not a majority of democrats. maybe a few minutes to get the president to take on a supreme court. neil: a couple of the names have talked to come in the list has whittled down now for the

president of the united states including a couple of women here. much has been made of the fact that whoever it ends up being will be very young, upper 40s, early 50s, so they could have decades of influence on the court. would you make about? >> is pretty rare. president trump is in a fortunate position for himself because it is where someone will really shake the court as much as it looks like he's going to be able to do what potential he too pics, maybe even a third of the been there for four to eight years. that is something people are taken seriously. ever since the old case under president reagan getting pushed up in the democrats have become such a partisan and difficult issue to get a supreme court justice don beyer. the federal society can heritage for action as well as on the left are going to push really hard to get something done and they will poorest through some pretty good candidate than whatever it is we'll be talking about this in decades. neil: switching gears on the dow down 163 points. are they getting worried that

this president might be costing them the very games he helped create. >> i think there's definitely concern about that on capitol hill. the republican party has been a free-trade party for decades now. or just as long, donald trump one of his longest held police at end of america is getting a raw deal and trade. you can find interviews in the early 80s when his attacking president reagan for being weak on that. the congress may declare they are not willing to side with him on too much protectionism. neil: yeah, but they can't be a rna on whatever he comes up with. that seems to falter the congressional support on terrorists. they seem like wimps. >> they haven't really represented themselves too well. right now it is more of like what they're not going to do. they will protect the world trade organization. they don't want the one-on-one negotiations the president is craving. we see this pushback from foreign countries. the president saying this is me

negotiating right now and a lot of states impacted at iowa, the gop is strongly supported the president and saying we trust you to get this deal done and we hope it doesn't ruin the taxes, which have only just begun to occur. neil: they are hoping that it works out at his house in prior worries. they are keeping fingers crossed at that point. always good to see you, my friend. what happened south of the border that has repercussions for a lot of trade deals including the election of a liberal who not only has full control of the legislative a factor as well, but a message for the president. i am not here to do your bidding. after this. jardiance asked- and now you know. jardiance is the only type 2 diabetes pill proven to both reduce the risk of cardiovascular death for adults who have type 2 diabetes and heart disease... ...and lower a1c, with diet and exercise. jardiance can cause serious side effects including dehydration.

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the liberals have the full run of the government when they do take over. all of this as angela merkel is just taken on by a thread right now. the coalition government falling apart largely over immigrants. a separate issue come up with the issue that seems to be resonating right now is the mavericks of outside the box candidate dating back to abuse out with donald trump in this country. that continues to be the increasing headlines worldwide here does go "the wall street journal" editorial board member. we also have your and deirdre bolton. when you guys look at this. and i'll go to you on this. the idea that this new mexican government, this hard left taken in the landslide is going to be problematic for the president than us. when you think of it? >> it doesn't look good are the reason he got elected is because the moderates his speech. he came from a very what i would

say corporatists more than hard left background. he comes from tabasco in the south. very much traditional pre-state. he couldn't win in 2006 on that platform of isolating mexico being kind of self-sufficient and everything and in free-trade keeping oil in the hands of the government. none of that works for him. he traded in 202012 and didn't work. this time he moderated his speech, called himself an outsider and a lot of it came from dissatisfaction with the two other traditional parties. neil: a lot of corruption. >> although i wouldn't say he's a boy scout when it comes to correction. he also has been backed by a lot of really corrupt characters, including the old union bosses who have gotten in trouble with the law and traditional politicians who have also been seen as very corrupt. i think what got him in was not the anticorruption because they

were all three guilty of that. he was able to frame himself as an outsider. maybe. again, i think outsider. they have been in the presidential palace in the last 30 years and they didn't do anything. it's not only the corruption. the violence issue is people are at the end of their rope. how are we ever going to get a handle on this problem with the drug cartels. he doesn't have a solution, and thankfully they called around tried and failed. he had a lot of corruption scheduled. and i think people, you know, at your university president when trump was elected that they basically the voters through an empty gin bottle through the front windshield. i don't know if you remember that famous piece he wrote. this is the tequila bottle. people are just really frustrated. i don't see a lot of solutions from the sky.

but he is something different from anything else they've tried. i also think the millennial vote had a lot to do with it. neil: he is the guy and i'm wondering the peso was jumping on this. now i don't know where it's gone. the idea that the trade agreements with us, nafta, what do you think? >> the one thing that was interesting as they said here's the one area where, believe it or not, this could actually be helpful to the trump administration and even helpful to nafta conversations with the idea that we would prefer if mexican auto laborers are paid more than they currently are because it just makes it less attractive than for our auto companies to put factories and workers in mexico. that was actually her colleagues point this morning, which was interesting seeing that silver lining. that is one thing we can think about. >> i made some phone calls about that. i know in the second debate,

lopez over doris at the free trade agreement can't work if we don't have equal wages on both sides, which of course is preposterous because wages are a reflection of productivity. there is so much more in this agreement and the auto. robert leigh peyser who is the ustr has been insisting that there be a sunset clause, that nasa expires -- a nasa expires in five years a month it by everyone. mike pence called justin trudeau and said don't bother coming down and talking about the dairy problem to washington unless you agree ahead of time that the condition. you have to accept the sunset clause. i don't see mexico accepting the sunset clause. i just don't see -- i saw that piece and i just don't see it being quite that easy. i think that they do share that

one objective. i think it is preposterous because it is not going to work in terms of the economics of it. i would just remind our viewers that it is also not the only thing that was in play. neil: actually, if you could just keep it down. is that your idea that this has changed anything? all the anger, you could really date back a couple years ago to the brexit vote. we've seen it pop up a number of other times. even emmanuel mccall and in france. what is going on here? >> it is an antiestablishment feel. business as usual is just not good enough. merkel i believe, even if she doesn't lead in the coming days or weeks, she's done. there's no doubt about it. come one come all policy towards migrants was too much of a political damage has been done to her.

we've seen the rise of populist in italy. there are others out there that will certainly come to the forefront. the interesting thing in mexico as an antiestablishment. anti-the current status quo with the current parties that have always been in place for many, many years. he is a bit of a donald trump style person. he is kind of a firebrand. he is able, makes very, very outrageous statements, but perhaps doesn't follow it up with the same actions. we'll have to wait and see. what is interesting is the bubble through the windshield is a good analogy. we have chronic property in mexico. we have horrible corruption, violence. what are you going to do about it? nothing up to this point is going to work your good luck is all i can say to him. $25 billion in social programs per year. he says we can achieve that by addressing the corruption in the

ways. neil: we find the money -- >> it doesn't really add up. although it is not quite the right description of mexico. mexico has had a rising middle class under the last 30 years of economic reform. this election was transparent. it was fair and complaining about the status quo. these are the people who changed the system so you could have a fair election. not like the kind of election that he was involved in when he was the leader of local pre-party. >> how far leftist politics? you only have brazil, venezuela, nicaragua and floating. certainly that style of government isn't working. i'm interested to see how far that he does. >> basically what we tried to say in our editorial is he is going to be constrained by reality a fairly open mexican economy. he can try to close the economy, but that would have serious

repercussions. the country has basically really moved up in the world. >> the number one issue apparently with safety. >> i don't see that ending because the u.s. has a huge consumption problem with drugs. all that money by definition goes into the pockets of criminals. neil: thank you very much. whatever you guys said, 70 points or they should probably just stay. a little more after this. you're welcome, america. (phone ping) gentlemen, i have just received word! the louisiana purchase, is complete! instant purchase notifications from capital one. so you won't miss a purchase large, small, or very large. technology this helpful... could make history. what's in your wallet?

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it's a good time to get your ducks in a row. duck: quack! call to request your free decision guide now. because the time to think about tomorrow is today. neil: all right, facebook is admitting now -- you're sipping, keeps having to admit this. hillary bond with more. reporter: facebook is admitting they need extra time to comply with data privacy makeovers that they gave their sites for years ago in 2014 after facebook rolled out the new roles, some developers said they needed more time to get up to speed good they offered a fixed amount expansion including many key, panasonic, spot if i commend the dating a pinch, even the delivery service ups in a document handed over to congress friday before midnight, facebook says making data access to 52 hardware and software makers

including amazon, apple and microsoft. 38 of those companies have been phased out. facebook says three companies will continue to have data access necessary so that users can utilize their app on preferred forms. the the product partnership saying the purpose of these partnerships was to build facebook and facebook features into products. people were only able to accept -- experienced these data to support them when they logged in or connected their facebook account. amazon, apple will still have access to data information. the key is the only have access to your data when you login and actually use the app. neil: hillary comic thank you very, very much. a lot of attention to what's happening in new jersey right now. when democrats run the table with the governorship. they were able to push through a tax increase on multimillionaires. joe piscopo very annoyed at

that. a hike in the business tax that will go up fairly dramatically from 9% to 11.5%. joe piscopo, star in our garden stay with us. i thought this wasn't going to happen? >> that is that they voted for coming neil cavuto. by the way, phil murphy, very nice man. very, very nice. politically -- i don't understand it. i mean come you are going to get slammed. you are going to get slammed with your taxes. >> the taxes on joe piscopo. neil: you have those deductions. but that wasn't surprising. other states that have tried, whether it is a zero-sum game. >> the president gave the corporations a break, so it will filter down it will trickle

down. the worst thing you do, we are losing companies in new jersey. they lost mercedes-benz. everybody is leaving jersey, man. what do we do? what type of corporate tax. $400 million. it won't happen. $200 million. boyer is what mr. zuckerberg left us. that worked out well. you can't give money to the government. they don't know how to create revenue. i'm so pumped up about this. we're talking on the radio. everybody is so upset he caused you can't just keep writing new jersey budget you >> this notion that whether you are for or against hiking taxes on the businesses, there is a lot more creativity with that sort of thing then there is trying to rein in spending. even if there was a fake effort in that regard, i say well coming in now, but there's not.

>> is not any don't create revenue. they are trying to jumpstart the new jersey film commission which is great. >> they are not going to go to texas. california thought the same thing. >> they are going down to florida. if i be one more person jerseys and the florida resident now, you can afford to pay that. it is like robert de niro. we are so confused. i will translate every morning on the radio show. you've got a hero like robert de niro going after the president, which is ironic because the president is taking on a lot of de niro's characters, which is true. you see the president say i want you to hit me in the face. and then they throw everything at president trump things like this, i never went down. you never got me down. >> it's out of control. there is a history on the senate not work.

i am wondering, he was against this, right? >> neil cavuto put steve sweeney on. the guy should be governor. he got bought out. he's got those big meaty hands. hi, i just benchpress rhode island. when you mess with this guy. neil: he did not say that. i will wring your neck, mr. governor. but really come you got to give it to china because that's a big difference. >> he obviously was concerned in the beginning about leaving the state and all of that. if you didn't have your hit show, you would be out. so what's going to keep people there? >> somebody has to run and take our state act.

people walk up to me at the food show we are doing and appearance because my career is going great. the sponsor at the food show. more people came up to me and said, where is our new jersey? what is happening to our new jersey. they're becoming progressive socialist, becoming a socialist state. that is not new jersey. that is not -- neil: are you acting like a man of the people? >> i am a man of the people. that's what i yam. you and i should go after the bhutto piscopo -- piscopo caputo. we will do fundraisers. neil: what are republicans doing when this is going on in the state? the minority party? >> this the first time. i know the inside. >> i really feel bad. neil: let's think about this.

a lot of people want to do the run. >> the party the republicans came to me and said if you go when coming you will rip everything out. i am not an obstructionist. so i took the hit. you know what, mr. caputo, no more. i think maybe as an independent you've got to cap the property tax like they did in california. >> chasing people? >> chasing people away. they're going to double the tax plan. just the italians alone come out. >> it's really amazing. the brain drain is one problem. >> we are new jersey and trust me, we are going down. i never went down. he never brought me down. neil: you had your moment, young man. no, have a great life. down 68 points.

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neil: last few seconds here. waiting for the arrival of the prime minister of the netherlands. he is visiting the president of the united states. a previous powwow. they are making some changes in their government echoing what president wants to do, of course, night and day. we have friendly relationship with them.

these are one of the few countries we are not sanctioning or going after with tariffs, i think, althoughthough they are part of the european union, aren't they? trish regan with the dow down 73 points. trish: neil is right. tariffs driving wall street lower. uncertainty around the world. we have a market searching for direction as we kick off a crucial week for trade. i'm trish regan. welcome, everyone, to "the intelligence report." ♪ trish: new developments on global trade. canada is targeting a u.s.-made products with a whole fresh round of tariffs while china and european union are getting ready to pile on with new tariffs of their own