dow and s&p negative for the year. [closing bell rings] that will do it for "the claman countdown," on the anniversary of bombing of pearl harbor we're so proud and thankful for all our veterans of this nation. that does it for the "claman countdown". melissa: selloff on wall street. major averages sinking across the board after president trump's economic advisor suggests new tariffs are not off the table. the dow closing down 559 points. had been down more than 660 points earlier in the day, extending its losses for the week. the s&p 500, tech-heavy nasdaq, ending lower. see that right there. everybody in the red there. down about 4 percent for the week. i'm melissa francis. connell: i'm connell mcshane. the good news it is friday. melissa: there you go. connell: this is "after the bell." we have team coverage of all going on the crazy markets. gerri willis on the floor of the new york stock exchange.

susan li in the news room. edward lawrence in washington. phil flynn watching all the action at the cme. gerri, you get to go first. >> i tell you the traders are happy to close out the week. the dow down 559 points. as you just said, that will be down 4.5% for the week. markets across the board. index is down 4% and change. take a look what dragged this lower. financials people are focusing on right now. in the dow, jpmorgan chase down. american express down. financials a big drag. this is reaction to flattening yield curve. other sectors, nowhere to run, nowhere to hide. industrials, technology, also dragging on the dow. look at worst performing stocks from today. united health, boeing, 3m apple, ibm. what is going on here? it is all about china trade. that was the biggest issue today i can certainly tell you that not just traders but investors

telling us people are concerned whether we get some kind of a trade agreement with china. talk about apple briefly. morgan stanley reducing their stock price target on apple. also saying they're expecting fewer sales of handsets. and why? because they see asian customers holding on to their handsets longer that will result in fewer handset sales for apple. others downgrading. apple under fire here today. guys, got to tell you. a rough week for the dow, 4.5, 4.6, 4.9. tough week. connell: ugly. ceo of huawei technologies making a court appearance today. could end up facing prosecution in the united states for fraud charges as concern remains high maybe this could jeopardize the trade war truce we thought we had between the united states and china. susan li in the newsroom with all the details.

>> publication ban being lifting in the courtroom where the cfo of huawei is facing bail hearings this afternoon. here is the latest on these charges. u.s. counsel today said meng is accused of using an unofficial subsidiary skycom to evade iran on 2009 to 2014. that she made misleading representation about skycom that it was separate from huawei. but they actually were the same company. and u.s. officials are seeking extradition so she can be prosecuted in the u.s. meng speaking through a translator in the canadian courtroom. the lawyer says there are not clear charges in the warrant. we're awaiting to go back to the administration who knew what when, when men was arrested

december 1, the same day the dinner took place between president trump and president xi xi. john bolton telling npr news that he got a heads up few days in advance but doesn't necessarily pass on the information to the white house and president trump himself. he said no one knew before the impending dinner of the arrest. canadian prime minister trudeau the canadian government was given a few days advance notice. it wanted be clear it was justice department issue and not political. larry kudlow explained on our air what huawei did wrong. >> they violated with the sanctions against iran. they had been warned. finally we had to pros cute that. susan: china called for meng's for her release. calling washington a despicable rogue for this arrest. back to you guys. >> wow, susan thank you.

let's go to edward lawrence in washington with the latest response from the administration u.s. trade truce with china. edward? reporter: melissa, the bottom line if the chinese don't make trade changes the president says tariffs on $200 billion of chinese goods will go up to 25% in march. president donald trump labeling himself tariff man. i have two sources who say the u.s. already collected $11.7 billion on tariffs. that money goes into the treasury. here is how it breaks down. $7 billion has been collected on the 301 tariffs. those are out of the u.s. trade representative's office and target china technology imports along with other items. the president also put his first tariffs last january on solar panels and washing machines. the section 201 tariffs at 30%, have collected $507 million. lastly the section 232 tariffs on commerce department on steel and aluminum collected more than $4.3 billion. all of this brought china to the table to talk about trade

reforms, regardless of the arrest white house economic advisor larry kudlow says the talks are progressing. >> i'm not privy to the law enforcement action. we're certainly deep in discussions on trade actions. i don't think one cancels out the other. reporter: still chinese experts say the arrest of the huawei chief financial officer may have consequences for americans. >> i think american businesses arely to face a lot of harrassment in china. and business executives who may have anything from a parking ticket to more serious issues are likely to find themselves potentially being scooped up by chinese police. reporter: china may not see the difference between legal and trade actions but this administration is making the difference the point that there is. melissa. melissa: edward, thank you. connell: we have our panel here to talk about trade in the markets. paul avesano, jack hough, "barron's" senior editor, keith

fitz-gerald, money map chief investment strategist. welcome to all three of you on a friday. if you look at crazy gyrations we've seen up and down in stocks, keith, you first, how much this week has to do with something like trade we can talk about versus these computer algorithms coming in and running crazy in markets? what's going on? >> you know connell, that is a very good question, very hard to separate the two, once momentum gets started, computers chase it. it's a race into the basement or ceiling depending which direction the wind is blowing but i think there are very serious undercurrents the huawei situation will have serious repercussions for american business. that is in my thinking. i have to admit that is disjointed from the rapid up and down trading activity. connell: it has been some week. nasdaq down 200 points today. paul, your take to the importance of keith's point to the huawei story. is it important? >> i think its important.

the two big stories besides china with big one on trade and tariffs people are forget about interest rates and the fed decision and what is happening there. have we reached neutral policy yet? we know likely another 25 basis point increase in december but what happens next year? inflation, i think that is the other thing causing some market gyrations. connell: jack, everybody has a theory. you, as we wrap up what has been another volatile week, where do you put china trade on the list? >> it's important but the reason investors are so skiddish about that, and other issues right now, it is just the backdrop. growth is slowing. we'll go from 20% plus earnings growth to mid single-digit rate next year. suddenly for the first time in more than a decade investors are seeing they can get more than 2% something as simple as bank account. that is heading to 3% a year. a lot are saying why not take risk offer the table right now?

connell: you agree with that, keith? >> it is very astute point and one i agree with you. the return on your money suddenly becomes less important than return of your money in circumstances like the present. melissa: interesting. weaker-than-expected u.s. jobs report. u.s. employers added 155,000 jobs but missing economist expectations while the unemployment rate remains a 4-year low, 3.7% from the labor department. what caught my attention, hourly wage growth up 3.1% up from a year ago. you were talking about inflation a minute ago. is this wage growth a good sign or does it concern you? >> i think it is both. take a step back regarding the job as report, while slightly below expectations it is still a very strong jobs report and i think people are forgetting that. that being said it is one data point. on the wayne growth it is great to see that. sitting long overdue and

potentially leads the fed to think about more inflationary pressures, whether we lead the path to more neutral rates. melissa: paul is right. it teaches you how spoiled we become. in eight years prior to this if we saw 155 there would be parades in the street. >> i think that is a very accurate assessment. i'm always deeply suspicious of the numbers because of revisions that go on. melissa: that's true. >> what caught my attention the numbers weren't a lot stronger given the backdrop we played out against. so i'm watching this one. i don't know quite what to make of it, but not that expected is what caught my attention here. melissa: jack, i was always tout you couldn't go well below 4%. >> we're there. i don't see much wrong with the employment report. it is pretty good right now. investors are wondering if growth will slow further from here. you mentioned earlier in the program about industrials. i tell you one thing, if you want to know the story what is going on in the stock market right now, look at caterpillar,

down 20% this year but earnings estimates for next year are up more than 30%. so there is something that investors are worried about not yet reflected in either business conditions or the near term forecasts. melissa: interesting. thanks, guys. connell: now, let's not forget about the action in oil today, ending up more than 2%. it was off the highs by the end of the regular trading session with the action really being over in vienna with opec and russia striking a deal to cut production. so, phil, what stood out to you today? >> i think the amazing thing that opec could actually get a deal done. that really got the market going, connell but late in the day i think we gave back a lot of those gains pause of the comments fed governor from st. louis, james bullard about the, maybe taking a pause on on interest rates in december, pushing it off to january. as soon as that hit the wire, believe it or not oil prices started to sell off because a

lot of people buying oil, hey, great news, a production cut, demand is strong in the u.s., record exports everything is good. all of sudden james bullard said, wait a second, we maybe have to pause. that was a warning sign, maybe demand won't be as good as we thought and we started to sell off pretty hard. interestingly enough, gold on the other hand it rallied big on that because if the fed is going to pause, that means more weakness in the dollar and really came up. shows you how these markets especially with the stock market una lot of pressure is really sensitive to these headlines. but in the big picture, when we talk about that cut, connell, it is significant. because right now we're going into the high demand period of the year. opec's going to do along with russia 1.2 million barrels. don't forget about canada. they have cut back 300,000. so that is 1.5. connell: interesting stuff to your first point especially about growth. we're all trying to figure it out, phil, for next year. phil flynn. >> thank you. melissa: president trump

announcing new leadership roles today. we'll tell you picks for attorney general and ambassador to the united nations. we are live from the white house. connell: plus some companies are starting to feel pressure on the bottom lines from the president's tariffs. we see it in the numbers but there are key exceptions. how it impacts the economy as a whole. melissa: chaos taking over the streets of paris as biggest tourist landmarks in the nation close out of fire. steve forbes us joins us what the united states can learn from these violent protests. ♪ ♪ there's no place like home ♪

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mom. ♪ >> no pain, no gain, american companies really starting to feel the impact of the president's trade policies, tariff collections, topping $5 billion in october. new numbers cited in "the wall street journal" this

morning. edward lawrence with more updated figures a few minutes ago. if you were watching yesterday the ceo of u.s. steel was on with us when i was in pittsburgh. they are actually seeing benefits of the tariffs. melissa. >> i think you heard we hired some 400 people here this year. connell: right. >> but for us the key issue is really around national security. that is why this thing is so important. but you can see across the whole country, number of blue-collar jobs increased. connell: will you hire more people next year? >> we're hiring all the time. connell: they say they keep hiring. steve forbes is here, forbes media chairman but it brings up this larger point whether it is more harm than good overall? we understand it is helping companies like his, he explained that yesterday, but overall impact is being felt now. what do you see? >> it is being felt. a few billion dollars comes off the bottom line. profit margins are being

squeezed. if tariffs go in they will be squeezed even more. also cap-ex, capital compensatetures of business. you don't know what the rules of the game are, you hoed back. we should have learned from the early 2,000s when the bush administration, bush 43 put in steel tariffs. connell: they backed out of them. >> they backed out of them, they cost 200,000 jobs in the overall economy. connell: interesting to see the government, as edward reported a few minutes ago, i don't know if bragging but talking about how much money tariffs brought in, overall $11 billion but that is money somebody is paying for? >> it's a tax. we're raising taxes raising more money that ends up hurting the economy f they want to look back in history, richard nixon, his treasury secretary, john conolly, this is great. we collected money.

sent the economy in a tailspin. taxes bad. connell: taxes equal not good. the idea here though, has been, many, in the administration, those who defend the policies, he is really only the president, setting this up to get everybody, particularly china to the table, using that as negotiating tactic but when i talked to the u.s. steel ceo, he had a different point of view on that. here is what he said. >> we don't see it as a negotiating tactic. we see these tariffs enduring for the foreseeable future. connell: to them, steve, it is part of that irbusiness model in that industry now. they need this policy in order to make money. others say this will be negotiated away at some point. what do you think? >> if you're dependent on government tax money, bailouts as they used to be called, that's going to end up hurting innovation and it will hurt the economy. when you get capital expenditures, investment by businesses going down, who buys the steel?

it is automakers. it is construction companies. connell: right. >> if they start to feel the pinch, guess what steel company will feel it too. connell: in a bad economy, in a strong economy it is one thing, when the economy starts to slow it is obviously more challenging. what do you think about whether big picture from the administration, really quote, a negotiating tactic versus a semipermanent or permanent policy? >> if they want to make the point with china about trade abuses they did it with huawei by arresting her. the other company zte, could have put them down a couple months ago. you do that to a few major companies fronting the rules, or chinese banks take them out of the swift system, that -- connell: you like that tactic. some criticized. that is better that their riffs? >> that is better than sales taxes hurting american consumers and businesses with sales taxes.

that is way you get a message to china. if you bring allies in, instead of fighting them, you have a strong front. china will respond. connell: interesting as always. you are coming back later in the show. we're paying you double that. >> 100% of cerio. melissa: resistance rising, angry protesters filling the streets of paris in defiance. french president emannuel macron, can authorities ease tensions before things get worse? grilled behind closed doors, former fbi director james comey facing tough questions from gop leaders but some house republicans say they still aren't satisfied. we'll talk to darrell issa, house judiciary committee member who was at that meeting coming up next. ♪ exactly. sounds like a case of analysis paralysis. is there a cure?

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melissa: comey on the hot seat. former fbi director clamming up on capitol hill desai lensed by his attorneys while testifying behind closed doors.

here now is congressman darrell issa, one of the lawmakers who questioned him today. he sits on the house oversight judiciary and foreign affairs committee. sir, i heard you say earlier today that his lawyers were sort of gleefully telling him not to answer questions. >> i think when it was specifically the fbi's lawyer. in other words, it is still the department of justice blocking justice, if it is being done by the american people's representatives here in congress. melissa: what were the questions you asked that he wouldn't answer? >> i want to be careful to keep the no specifics rule until the transcript comes out but they clearly involved the general categories of hillary clinton, and decisions there. loretta lynch and decisions there. and very much the fisa investigations. those were some of the areas. the thing that is creating a problem is of course everyone knew, including the fbi and the attorneys, at department of justice, what the questions were

going to be and so to surprise us by coming up with very broad prohibitions, to be candid, we could have just easily not had the department of justice in the room, stuck to the subpoena that chairman goodlatte issued, and gotten past some of this but they're now essentially forcing us to go to the department of justice, negotiate a lot more information being allowed, and bring comey back because he set an artificial, surprised with an artificial i have to leave at 4:15, with these non-answers clearly the american people are not getting answers to questions they have. and if you notice today, what was, what came out from "judicial watch" and the terrible violations of protocols that were done by the department of justice, when they were looking and fbi, when they were look at hillary clinton, it is very clear there were still problems there and the new attorney general has a lot to fix.

melissa: i mean, if he is just going to evade no matter what, he needed specific terms. you guys did it. now you have to go back and renegotiate, seals like he would have another surprise roadblock, that he doesn't want to cooperate. so where do you go from there? what is the point of trying to do this again? >> well, first of all getting the truth for the american people you keep trying until you get it. let's remember that comey was a man who came before congress voluntarily and lied to us about his need to get a backdoor into apple phones, millions of phones that he wanted to be able to essentially unlock and look at remotely. you know was later proved to clearly not checked out how to unlock one phone from the san bernardino killer. this is a man who plays fast and loose with the truth and now sitting behind the department of justice that is still stonewalling the american people. melissa: but you know he is not in the position any longer. so what is the point of continuing down this path as

opposed to, trying to either go into the department reform it, change who is there, change the rules around it? i mean seems like this path is not the most direct path in order to, you know, get to justice within the justice department? >> well, you know, sometimes you have to go to each of the areas that need to be discovered or reformed. in this case remember we're still spending, we, the american people, are still spending millions of dollars every month significanting collusion, if you will. and by the way that has clearly been understood is not a legal term. there is no such thing as collusion under the law. comey couldn't answer what collusion was because it is not a term that has a law attached to it. but the fact is, that we're still spending that money. the special investigator is investigating based on, these were a lot of our questions obviously, based on this false narrative of the, the so-called steele dossier which was out right lied paid for by the

democratic national committee and hillary clinton that is still going on. so he may be out but the predicate, the false predicate, the lies told to a fisa judge to get it is still something the american people deserve more than just a promise it won't happen in the future. people have to be held accountable to a lying to a federal judge. those people lied to a federal judge knowingly are justice department employees. melissa: what did he know before he went to the fisa court, did he answer that question? no. all right. congressman issa, thank you. >> you're welcome. connell: taking a tough stance. united states taking clear stance on allied ukrainian forces. we'll tell you what action u.s. is taking. plus the trump administration announcing some new leadership, it is a key post. we'll have a live report from the white house with details on that next. ♪

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connell: shakeup in the administration to talk about with president trump announcing his nominees to be the next attorney general, and also the next ambassador to the united nations. making that official earlier today. blake burman live at the white house this evening or late afternoon with details. hello there, blake. reporter: if he is confirmed it is a 26-year gap for bill barr serving stints as attorney general of the united states.

for a little more than a year during the george h.w. bush administration barr held that role. after the 41st president was laid to rest the 45th president appointed him to be attorney general. he expects the confirmation process to be quick. >> a terrific man. a terrific person. a brilliant man. i did not know him him for until recently, when i went through the process of looking at people. he was my first choice from day one. reporter: democrats are concerned about statements barr made about special counsel and hillary clinton. top democrat in the senate, chuck schumer says barr needs to meet two requirements. first that the special counsel investigation proceeds unempead, that the final report is made to congress and then publicly upon

completion. the president selected heather nauert to replace nikki haley as ambassador to the united nations. nauert left fox news in 2017 to become the state department spokesperson. critics question her resume'. the center for american progress saying today, quote, to nominate someone with zero diplomatic negotiating experience is yet another reminder that the trump administration, which placed generals in charge of foreign policy and methodically gutted the state department, does not prioritize diplomacy. the president describing nauert, described her as someone very smart, very talented, very quick. connell: blake, as you know, yes we do know. blake, thank you for that. blake burman on the north lawn. >> paris under pressure. bracing for another round of violent protests, with the eiffel tower closing its doors and some say it's a warning to the rising socialist movement in the u.s. steve forbes is back to respond. that's next. arthritis take them away.

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melissa: paris on edge. the french government deploying nearly 90,000 police officers this weekend fearing riots that started as protests against high gas prices and they will get even worse. connell: that is what they think. steve forbes is back in the studio. they will be deploying all these resources getting ready for another rough weekend. you think they would have backed off against the gas tax that would have backed off the protest. what do you think is happening in france? >> 50 years ago, 1968 protests nearly brought down the government. this is more than gas prices. economic stagnation, and immigration. that is boiling al over. they're deploying 90,000 so it

doesn't go down to a french revolution. connell: a rights story, economic story? >> state bureaucracy isolated versus much of the french population. they feel they don't have much to say. the fact that france you want to get something done to change, you go to the streets instead of the has of the legislature. not a good thing. france instability has been around for 200 years. we're starting to see it perk again. they want to nip it before it reaches the critical stage. connell: what happened to emannuel macron, president of france? looking at numbers on his approvals. he is struggling. we can put them up on the screen, look at macron at 23%. a lot of people talk about president trump is not that popular. i understand he is not, he is under 50% he looks pretty good against theresa may, eman macron, angela merkel at even 50%. what happened to mack korean? he was so promising so many stories written about him? >> was not bold enough.

exit tax that hindered french growth. he has to, should have done massive cuts in taxation. massive cuts in wasteful spending and regulations, cut the vat. his finance ministry would have gone berserk but showed the french people they will make dramatic break from the past. he bought into terms of climate change even though, even if they raise the gasoline tax it, would be 1/1,000 of a percent impact on emissions in france. france is mostly nuclear energy. they're pretty good on emissions. so he made the wrong policy decision. didn't dot big stuff on the other front on other fronts that would have bought him political capital. connell: know hardly anything about french politics, reading about it, observing this he lost the people, right? we have these populists uprisings in some countries. sometimes they come from the left. sometimes they come from the right. i'm not sure leads to coming

from one side or the other. >> people feel powersless in a strong administrative state. france has the strongest. connell: we have to cut you of. this is steve comey. >> i am coming back on the 17th after full day of questioning. two things are clear, we could have done this in open settings and two, when you read the transcript you will see that we are talking again about hillary clinton's emails for heaven's sakes i'm not sure we need to do this at all. i'm trying to respect the institution and answer questions in respectful way. you will see i did that in the transcript. you will see that if you get a transcript of my return visit which will be week after next. and then, this will be over. [shouting questions] >> new attorney general nominee served as attorney general last time, do you have confidence he cap act with impartiality? >> i like and respect bill barr. he is institutionalist, who cares deeply about the integrity

of the justice department. i'm sure he will use the standard career resources he has to judge what he should be involved in, what he shouldn't be involved in but bill barr is a talented person who is a good attorney general the first time. i liked him very much then. i think he will serve the justice department well. and i'm sure he will talk to the career officials about how to handle that. >> extensively have you cooperated with mueller investigation? >> i can't talk about that. >> how times have you spoken with him. >> i can't talk about that. i'm sorry. >> the republicans came out and said that a government lawyers ran interference and shut down specific lines of questioning. did that happen and if so, what topics were not discussed? >> when you read the transcript, i think you will not see that happening. >> specific topics you still feel like you can't discuss from your time at fbi director? you've been out the door year-and-a-half. what can't you answer?

>> fbi for understandable reasons doesn't want me talking about the details of the investigation that is still on going. it began when i was fbi director. so it makes sense that they don't want me going into those details but that is a very teeny part of what we talked about. a whole lot of hillary clinton emails. it will bore you. >> next time the hearing will be public? have you talked about that? >> there wasn't any talk. i think they want to do it the same way. i wish it would be public. i think we'll have to do it the same way again. >> you said you were okay with the barr nomination. do you have any concerns firing of jeff sessions, president continuing to go after jeff sessions for not recusing himself in the mueller investigation? >> i think the president's attacks on the justice department broadly and fbi are something that no matter what political party you're in you should find deeply troubling. and continue to speak out about, not become numb to attacks on the rule of law. >> firing of sessions specifically, did you have -- >> that is not something i can comment on. >> mr. comey ask you a question

on fisa abuse, a major issue for republicans. did you have total confidence the that you used to serve surveillance warrants and subsequent renewal? >> total confidence that the fisa process was followed and that the entire case was handled in a thoughtful, responsibility way by doj and fbi. i think the notion that fisa was abused here is nonsense. >> as private citizen how do you think bob mueller's investigation is going? >> as a private citizen, someone who knows the justice system i see it proceeding incredibly quickly and very, very professionally. most important indication of that is, you don't know anything about it except when he files something in court. that is the way it should be. >> are you prepared to return next year when democrats regain control of congress to testify perhaps on questions of obstruction of justice and impeachment case? >> i always want to respect the institution of congress. i love it. if they didn't want me to testify. but if they want me to testify, we can do it in responsible way i will abide it.

so we'll see what happens. >> do you know anything about rod rosenstein wearing a wire? did that ever come up in any of your discussions when you were there? >> i can't comment on that. enjoy your weekend. >> mr. comey -- connell: former fbi director james comey meeting with reporters on capitol hill after meeting there with lawmakers, behind closed doors today. something he says he will do in a second session. that also, as he said a moment ago will likely behind closed doors. steve forbes, already here today in the studio on another topic. you were listening along with us to that i don't know what you picked out of it, one of the things on questions come up, melissa talking about this earlier potential abuses of the fisa process, former director was asked about that. he said that the notion that there were abuses of fisa process or notions there may have been abuses that is just nonsense. he did answer that. a number of questions he didn't answer. >> i'm surprised he spoke with the press as long as he did.

i imagine lawyers were not happy. you say a few words hope to come back to put this thing behind him, what he said about fisa is very, very revealing he went out to say it is all nonsense. i wish the president would find a way to release those confidential documents, fbi and other documents to see, talking about abuse of process. what the fbi leaders did during 2016. that has to go out into the public. the sooner the better. i think mr. comey would have a very different tone if he knew those documents would be made public. connell: all of us watch, whether the mueller investigation or investigation of the investigation, would hope to know more than we do. because just, that is our human nature, want to know as much as we can. do you think it has been on both sides transparent enough? even those conversations happening behind closed doors, does that have to be the way it is? >> when you go public you play to the grandstand. connell: that's true. >> you will get a lot of grandstanding and hoping public opinion will persuade your

questioners to lay off. that is what happened the first go round. connell: year ago. >> yep. and so fine. could do it behind closed doors but the whole thing has got to be released because both side, certainly the conservative side, republican side, feel there were real abuses in 2016. democrats feel there are other abuses. get it all out there, release toes documents. they have little trap clauses in there i'm told about obstruction of justice president releasing them. release them anyway. american people need to know. connell: all out there. >> absolutely. connell: steve forbes helpful, thanks for pivoting breaking us. >> thank you. connell: more to come after quick break. we'll be right back. f the futur. f the futur. super. but today you're building wind turbines. morning sir. chief, the blade isn't passing quality gate. that's why you work with watson. i detect frictional loss on the midspan. it can detect the tiniest defects from just a few images

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melissa: the united states military carrying out a extraordinary open skies treaty flight over ukraine intended to reaffirm the commitment to the country. the pentagon releasing a statement saying quote, russia's unprovoked attack on ukraine naval vessels in the black sea is dangerous escalation and pattern of increasingly provocative and threatening activity. joining us to discuss, rebecca heinrichs, hudson institute senior fellow and military fellow. what do you make of this? what is the message? >> message is the united states and nato alliance are strong. putin likes to see if he can break up the alliance, find fissures and exploit them to see if he can find week spots. he will push if he finds weak spots. the trump administration got the alliance together, refuting those who say president trump is weakening or bad for the nato alliance. they sent a strong message, we'll not let you continue these provocative behaviors against ukraine which is not a nato member, but also against the

rest of the alliance. melissa: where do you think is goes from here? what is the next move? >> anytime putin tries to do something like he did with ukraine, we need strong sanctions against russia. there rather things we can do. this came on heals of heels of the previous day, the trump admin disoperation we would no longer abide by imf treaty because the russians are violating the cold war treaty. every time russia tries provocative steps, the united states needs a clear and strong message to have the alliance close together. which is what president trump was able to do. president obama was not able to get alliance to stand up to russian aggression. this is the first time they will not tolerate russia's provocative behaviors in violations of treaties. >> rebecca, we have to cut it short. we appreciate it. you got it all in the. connell: we have breaking news.

president's former lawyer michael cohen. prosecutors in southern district of new york seeking substantial term of imprisonment. that is the way they have just phrased it, a substantial prison term for michael cohen. this memo just coming out. the probation department recommending a sentence of 42 months in prison, recommended, for michael cohen, as well as a fine of $100,000. so this for people that have been following it, most of you know, is separate from what cohen had been facing in the plea deal he had with the special prosecutors. melissa: there would be questions would that be rolled together? would this one be shortened. how much cooperation is going on? with this kind of a sentence recommendation, tells you doesn't look like he is cooperating a lot with the southern district or they have something else because they're sticking it to him in particular. connell: they can do that. it is totally separate case in the legal sense from what is happening with bob mueller's office so. melissa: the china tariffs are far from the cherry on top for these farmers.

we'll take you live to a cherry farm in duval, washington. that's next. ♪ ... i knew about the tremors.

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swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid. connell: china tariffs, they're the pits for cherry farmers. she gets it. they've been hit by a 50% tariff these farmers have on fruit, and well not funny for them i guess. the cherries are perishable so they can't be stored for later sale, something we saw the soybean farmers do on this very program in jeff flock's report last week. to dan springer on a farm for us in duvall, washington with more on this story. dan? >> connell the timing was terrible. they were harvesting the very perishable crop as the trade war was getting started. china has become the most important export market for the cherry industry. the country is the best fruit grown in washington state and pays a premium for it but when the second round of tariffs

kicked in last summer exports to china came to a halt. lower the overall value of the crop and cost growers $86 million in lost sales no growers went out of business but many will if nothing changes. the impacts are being felt all across the country especially in the middle of the country in states won by candidate donald trump. the nebraska farm bureau just issued a report saying the trade war with china cost formers there $1 billion and farm workers in nebraska lost over $200 million in income. congress did authorize a $12 billion aid package but the worry is that for example, soybean farmers will lose a big chunk of the china market to places like brazil and argentina and may never get that market share back. officials at the u.s. department of agriculture acknowledge the farmers pain but continue to blame china but a usda official did tell me he expects this trade war to be over by next fall. connell? connell: interesting story. thank you. melissa: i certainly hope that's true. connell: he said so many places

the president has done well is where they are getting hit the hardest interesting. melissa: that does it for us. happy friday to all of you. connell: we made it to the weekend have a great weekend we'll see you back here next week, bulls & bears is up next. david: hi everybody this is bulls & bears i'm david asman joining me on the panel today, liz peek, adam lashinsky and steve moore. well, more chaos in the markets, take a look at this the dow closing down 559 points after rallying at the open, we've lost more than 1,100 points this week alone driven lower by mixed signals coming from the president, and his administration over the progress with china on trade. negotiations and what exactly will happen at the end of this negotiating period, and while all of this is unfolding one of china's highest profile tech executives is arrested in canada