>> thank you. [closing bell rings] liz: the dow well off session highs, up 70 points. nasdaq down 27. mixed day on stocks. it is friday, tomorrow. i will see you then. connell: liz, a little more whiplash on wall street with the major averages mixed at the close. trade uncertainty, fears of a government shutdown is out there. the dow closes up 60 some points. way off session highs. we were up 200 plus early in the session. s&p 500, nasdaq composite, well just a little bit lower. down less than a point for s&p. nasdaq down as it settles in by 28 points. a lot for to us talk about. very special guest joining me on the program today. i'm connell mcshane. >> i'm charles payne. in for melissa francis. this is after the bell. more on big market movers. first is here is news this hour. connell: he wants the wall

top democrat says republicans don't have enough votes for the wall. punishing saudi arabia for the murder of "washington post" columnist, jamal khashoggi. the saudis about to defy president trump on another issue we'll talk about. facebook opening a pop-up location trying to teach users about privacy. so "after the bell" decided to pop over and ask tough questions ourselves. charles. charles: markets ending in the green. another volatile day. not as volatile. gerri willis on floor of new york stock exchange. hey, gerri. >> this is boring day, right? dow up 69 points, s&p basically

flat. once you get under the surface real interesting stuff going on. look at the leaders an laggards. industrial, consumers leading. mcdonald's, proctor, 3m look at those. laggards, nike, visa, goldman sachs, home depot, travelers, a mix of stocks on these two lists. want to get you to general electric. big headlines on that company today. everybody was paying attention to internet of things company they want to open separately from ge. $1.2 billion software company. interesting stuff, but the thing that really propelled this stock today, it is up 7%, was the fact jpmorgan up graded the stock to just neutral, but took it off the recommended short list. think about that. so general electric giving a boost thanks to jpmorgan. charles, back to you. charles: analyst said it was a

sell at 30. thinks the carnage is over. connell: trade tensions between the u.s. and china weighing on investors as edward lawrence continues to talk about that. president trump speaking out. what is the latest, edward. reporter: donald trump says has sights own a fair trade deal for china and protects intellectual property and open market access as well as lower tariffs for u.s. products. he is optimistic to get something on paper that verifies the chinese will follow through but he will not back down. listen. >> i have an additional $267 billion worth of taxes essentially to put on china. they don't want that. that would be devastating for china. and, they are now agreed to go buy soybeans, tremendous amounts of soybeans. you see that already happening. reporter: he was talking about those tariffs. the chinese bought more than $500 million worth of soybeans in the past 24 hours.

signaled that the government buyer could buy more soybeans. this could be a olive branch for soybean farmers hurt by. the made in china 2025 plan may change. a new proposal opens access to foreign companies, and downplays the goal of tech dominance by 2025. as the administration has its sights on china, he is looking at the federal reserve. president saying that the federal reserve is his biggest threat to the economy. >> hopefully the fed won't be raising interest rates anymore because if you compare us to, as an example, president obama, he had zero interest rates. anybody can make money with zero interest rates. i'm almost at a normalized interest rate. yet our economy is soaring, our jobs are soaring. our businesses are doing tremendously. >> as you know the next week the federal open market committee meets is widely expected to raise interest rates again. however the tone of the federal reserve president changed. now we're near neutral, hinting

there could be a pause coming over the next year. connell? connell: edward thanks. edward lawrence in washington. we're joined by danielle dimartino booth, former federal reserve advisor, "fed up" author. kevin kelly is here. welcome to you both. it is interesting, guys what we're seeing from either economists or from in one survey from duke university, chief financial officers, more and more pessimism working its way into people's outlooks show you numbers from duke. kevin, almost 50%. 48.6 believe recession is coming next year. by end of 2020, more than 80% think we're in recession. risks inability to attract, retain qualified workers, so-called skills gap. what do you make of this so-called pessimism building?

what does it mean to you? >> cfos are saying this, they have rising input costs via labor and costs of capital. if you're a cfo, you have a hard time, trying to maintain profit margins, go back to what recession really is, that is slowing of economic output. connell: right. >> from gdpwise, go from 4 1/2% growth to 4%. and unemployment rate go from 3.7% to 4% unemployment that is recession if it happens under two quarters in a row. under obama administration they called that secular stagnation. they were fine with it. whenever we get a recession, here is the main take way, it will not be like the great financial crisis because fiscal policies unleashed the economic spirit of american businesses and consumers. connell: seems toe be the mainstream view, danielle, if we do have recession it won't be so deep. that said, timing if history is anified is important politically

to these type of things, when recession or downturn hits. where do you stand on this debate? >> my greatest concern with all due deference to all of the wonderful tearing down of regulatory apparatus happened under the current administration, my greatest concern we resolve the problem of overindebtedness landed us in the great financial crisis in the first place piling on more debt. we're now starting to see cracks in the fixed income markets, bond markets much more troublesome and worrying than what we've seen in the stock market. connell: recession end of next year, danielle? what odds you put on that? >> i've been saying this for some time. we've had housing slowing for 10 straight months in a row. cfos are just people like you and me. they drive around their neighborhoods. they see the for sale signs multiplying like bunnies. they see the writing on the wall. they're in charge of hiring, firing employees. charles: thank you all very much. meantime, bringing jobs back to america. president trump approving of

apple's latest expansion plan that could approve 15,000 jobs in austin, texas. >> you're businesses are doing tremendously. apple announced spending $15 billion in this country. charles: danielle, start with you there. these cfos, something with the bunnies, i like that line, have to borrow it one day, they're always pessimistic by nature, they see some negative signs, what about the core of this country? the job creation, the money coming back, expatriated cash, billions of dollars, feels like that should be enough to at least get us the momentum through to next year? >> well i'm very happy, if you don't mind say, hook 'em. that is my alma mater. that is where i went to school. it's a hotbed of technological higher education. i'm absolutely delighted there will be a huge campus in austin, texas. i've never been of the opinion even if we go to recession, that

will not spell out the death of innovation in this country. we have lots of great countries and great universities and cities and the opportunities are vast for bringing more work back to this country because the costs differential frankly between us and asia and other countries where we used to outsource manufacturing, that cost differential, that gap shrinked appreciably in recent years, allowing more american companies make more sense out of math doing more business in the united states, especially in austin, texas. >> kevin, a lot of people want to see capital investment that is the one ingredient we need to see carry through into next year. >> we have been looking at capital investment. manufacturing pmis, new orders index has been expansionary mode almost the entire year. the problem that we have, we have a skills gap. companies here want to hire as many people as possible. we have 7 million unfulfilled jobs. the problem isn't capital investment. the problem isn't unemployment

rate. it is the skills. charles: right. >> we need to reinvest in people to get productivity for the cfos we talked about earlier. charles: the jobs are spreading like bunny, danielle. >> i love it. >> thank you both very much. connell: so as we continue here today, a looming government shutdown. everybody is still talking about this in washington with president trump not backing down on his 5 billion-dollar demand to fund the border wall. what exactly are taxpayers being asked to buy? we'll break that all down in terms of billions of dollars actually have to go into this. if democratic leaders can hop on board. charles: plus taking aim at general motors. president trump's latest comments about the automaker. what it could mean for the future of the company. connell: farmers concerned over trade. impact of the president's tariffs. what it could all mean for you and your wallet. that is all coming up. ♪

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>> they have changed the whole model of general motors. they go to all electric. all electric will not work. i don't run a car company. all electric won't work. wonderful to have a percentage of cars. going into this model she is doing i think is a mistake. charles: fred barnes, "weekly standard" executive editor, fox news contributor. of course, fred, president trump not the only politician upset about this. in fact this news about general motors created the most incredible of motley crewp people upset, unions and big money, democrats and republicans. this is not about electric cars. i think it is about gm making business mistakes, now trying to mask it. mary barra is in pickle. what happens? >> this pushes trump right where

it hurts. this is not supposed to happen with him. and once he has been president. his jawboning hasn't worked. i think trump will not let up on this. and, you know, gm should have talked to him beforehand. they shouldn't have just dropped the bomb, then things would be a lot better off if they had done it differently. charles: there is no doubt about that, anytime you announce a massive layoff it is bad. a few weeks before christmas is worse. politically swing state is even more awful than that for me someone who watches the company very closely, it is very clear that they have products people don't want. not just cars. they're losing market share in crossovers. they're losing market share in trucks. they're losing market shear everywhere else. do you lay off americans keep the mexican factories going to protect margins, ultimately you

need americans to buy the car? remember lee iacocca made a pitch to save his company. >> doesn't look like gm following the lee iacocca model. there is a financial reason stick what you're doing in mexico. that is where you're making more money, or at least you're generating more revenue that way. and you spend -- charles: revenue starts at the top. you need people to buy the product. if americans turn on general motors, it won't matter how big margins are in no one buys the product! >> that's true. but the product isn't going to get to the stores, the showrooms if they don't have a, if they aren't doing well enough in mexico to help that out. charles: yeah. >> but mentioned about gm, their cars, you know, look, it continues to surprise these auto companies that people, really don't like the old sedans. they really like a bigger cars,

and, you know, those are ones that i have. charles: it's a pleasant surprise. those have fatter profit margins. >> it is, but this may not go on forever. they may be caught, as they, the auto companies, they are always get caught when buyers change their minds. they like something different. charles: let me say one thing real quick. in the last quarter general motors netted $2.5 billion. a year earlier they lost $3 billion. that is a five billion dollar difference because of president's tax cuts. i can see why he is upset. i really believe mary barra has a pickle a political pickle that could become problem with sales because people won't forget this, fred. >> one word trump hates more than any others, you know what that is? layoffs. >> i think we all hate that word. fred barnes, great talking to you. thank you very much. >> you're welcome. connell: more from the

white house with issues the president is dealing with including the possibility of a government shutdown. time is running out in terms of congress getting something signed. blake burman is live with the latest on that. blake. reporter: hi, there, connell, we saw that spectacle in the oval office here in the white house earlier this week between president trump, chuck schumer and nancy pelosi, the leader of the republican party and the two leaders of the democratic party. now both sides have to sort of figure it out as to where to go from here. the democrats have put on the table what they say are a couple different options which essentially would leave funding levels the same. the issues still remain today, as they remained two days ago, there really hasn't been much movement today. that is the issue of border wall funding. the president wants $5 billion for a border wall. democrats are not willing to give him anything near that. the key date on this one still remains december 21st, next friday, when it has to all be figured out or otherwise there is a partial government shut

down, that would include the department of homeland security. a few you vehicle factors, december 21st is few days before christmas. one would wonder whether or not lawmakers would want to stomach, including this president shutting down the government right before the christmas holidays. also, democrats set to take control of the house. in a few weeks time, nancy pelosi will run the house of representatives. that certainly changes the dynamic there. connell, wait and see mode at white house. president trump is firm in his demands. democrats are firm in theirs as well. connell: blake, not to minimize the government shut down, but looking at perspective markets we've been through that before. we made it through that before. stocks often go up after the government shutdown. be that as it may, what about china? harris faulkner was down there interviewing our president today, from people you speak to, president's own comments, do they buy it, that china turning

the corner to make concessions? reporter: they feel there is a lot of big move here. i.p. theft was addressed by china. purchase of ag products. auto tariffs coming pack down to 15%. you add all these things up, people we speak to intimately involved with all of this stuff feel pretty good where things stand and you know, there is a 90-day window which is i guess a 80-day window, something like that. add in holidays in between, closer to 60 than it is 90 at this point. there is progress. president trump as we've seen in his tweets and comments earlier today with harris faulkner feels positive. connell: we'll see, charles? charles: breaking news. costco reporting 2019 first quarter results, go to deirdre bolton. >> charles, if you look at earnings, costco beat most

expectations. 1.62, 162 cents however you want to say it, costco beating that estimate at 1.73. so that is a gain, if you do the comparison quarter on quarter. that is better than 20% increase. a little slight miss on seas. that is why you are seeing after-hours, hourly arrow, in the red, facing downward. so you had a miss on sales. wall street looking for 34.80 billion. you did have costco posting 34.3. i want to highlight, they had released about a week ago, same-store sales pretty strong. growth of better than 8 1/2%. a lota lot of people saying it l be a tough quarter for them but they can execute. back to you. charles: the stock is taking it on the chin so far. deirdre, thank you very much. connell: pointing the finger at the saudi crown prince, senators approving a resolution on the floor going against the trump administration following the murder of jamal khashoggi. we'll talk about it coming up. what happens next.

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charles: a bipartisan rebuke. senators approving a measure to end united states military support for the saudi-led war in yemen. admonishing saudi arabia for its role in the murder of columnist jamal khashoggi. fox news's peter doocy live on capitol hill with the latest. peter. reporter: charles, the trump administration wants lawmakers to be careful not really rock the boat with saudi arabia a strategic ally but just a few minutes ago they passed a resolution condemning the crown prince of saudi arabia, their most dramatic action yet. >> but as a result of what the chairman just offered, it is a clear and unambiguous message, about how we feel about what happened to this journalist. reporter: next up senators might move to sanction saudi arabia

once there are a few more republicans in the ranks, according to lindsey graham, who thinks sanctions could be veto proof or unable to be undone by the president if he wanted to. first thing first, not only did the senate condemn the crown prince, but in a separate vote on resolution that predated the journalists murder, they voted to pull troops from the war backed by saudi arabia in yemen. that was supported by republican mike lee and independent bernie sanders. >> both progressives and conservatives have made a profound statement that 45 years after the passage of the war powers act, 45 year place, finally the united states senate has come together to use that authority for the first time, and say, that the responsibility for war, the constitutional responsibility for war rests

with the united states congress, not the president. reporter: the defense secretary, secretary of state, cia director were here briefing lawmakers on very graphic intelligence they say points to saudi arabia in that journalists murder and some lawmakers wanted to see more. they weren't satisfied with the presentation. make no mistake these actions were inspired by that intel. charles. charles: charles, thank you very much. peter doocy. connell: we bring in peter brooks, to talk more about this. heritage senior fellow and former deputy secretary of defense. good to see you in new york. >> yes. connell: to follow up on peter doocy's reporting, a couple questions, want to talk about oil, which is our interest. he says, well, we don't want to see any rocking the boat, if we're the trump administration. seems to me the senate rocks the boat a little bit with this. >> certainly does. this is lame-duck congress. a new congress coming in next year. there are a bunch of things going on here. they're unhappy about what the

administration done about the carbon dioxide murder. connell: right. >> they're unhappy about the war in yemen. they're also happy, if you heard bernie sanders talking about the war powers resolution. they have been saying congress has to give the president authorization to use force involved with the yemen war. connell: right. >> there is a lot of complicated issues. connell: what are the odds as they push it forward they can get to peter doocy's point, this veto-proof majority that would force the president to act here? >> this is just a resolution, a non-binding resolution a sense of the senate saying we're unhappy about this. this sends a signal to the white house we want to you do some things about it, otherwise we may do something. i think that comes up in the next congress. right now the house will not do anything about the senate resolution. next congress in january, when democrat-led congress they may feel very strongly, be able to come to some sort of a agreement with a republican-led senate trying to force the president's hand, sending him a bill, as opposed to resolution. connell: if you're advising the

president, and we already heard what he had to say about it, it is interesting, another story had bloomberg earlier about oil, saying saudi arabia plans to target the u.s. with what we're described as sharp export cuts. now president trump has been very clear, he was supportive of saudi arabia, even going against his own party to do so, but very clear, hey, keep the oil flowing, keep prices low. this seems to be the exact opposite of the saudis what the president was calling for so now what does the president do? >> this is speculation, saudis could show some pique about what happened in the senate. connell: what do you mean? >> they're unhappy by this resolution. connell: they're really sticking it to the president. >> they are sticking it to the president. the president may have to make tough decisions because of this. they're also in cahoots with the russians. remember this goes back a week or ago, where they met with the russians. they talked about both, about oil prices which is important to each one of them. it could force the president's hand to get tougher with saudi arabia on this issue, because it may, gas prices may

go up. connell: would you go far to say it should force the president's hand? what would be his motivation not to act if they basically said to him in not so many words, hey, listen, we'll put this right back in your face, we'll not listen to what you want us to do? >> first of all this is a very important relationship. we're dealing with heinous crime. this is complicated. there is a lot of signal here in the united states they're unhappy. the saudis may have forced the president's hand based on raising of oil prices. he may decide he needs to do something. this is not the end of the story. connell: okay. >> we're in lame-duck congress. we're moving into the holidays. will be a new congress next year. we'll have to see what happens in saudi arabia, if we see some sort of accountability which is what everybody is calling for over this heinous crime. connell: as a final point, i wonder what our strategic interest for price of oil we're looking at. it is 53.11. it went up a couple bucks. for consumers it is true we want as low as possible prices, i get

that, but from our very own oil industry important from a national security as well, you need the price at least above 50 bucks, right? we probably don't want it to go too low either? >> i get your point. that is something for you to discuss. i'm not in oil or energy. connell: speaks to how complicated issue is. >> it is very complicated. talking about war powers act, bernie sanders was. talking a murder of a journalist. the war in yemen which is terrible humanitarian disaster. it means there are tough challenges, tough choices ahead for the administration and others. not just the united states. connell: great to have your analysis. anytime you're in new york stop by. just walk in. >> thank you very much. charles: the border battle continues. president trump vowing to follow through on one of his biggest campaign promises by building a wall. what exactly does $5 billion pay for? we'll explain next.

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connell: border wall battle. new "fox news poll," showing 66% of those who asked are very worried about illegal immigration. 59% concerned about the migrant caravan. the fight over the president's wall heats up in washington, taxpayers may be in the dark how billions of dollars might be spent. william la jeunesse live on the story from los angeles. william. reporter: president trump changed the word wall to fence he might get his five billion

dollars. i'm exaggerating slightly but this does seem to be a fight as much about semantics as substance. dating back to the early 90s democratic lawmakers repeatedly voted for fences designed to keep people out. in 2006, a majority of senate, 64 house democrats voted for 700 miles of double fencing, cost of cbo at time was $50 billion. they never ran out of money but they erected 100 miles of steel bollard style fencing. this is the same thing president trump calls for a while. they talk past each other. calling same thing something different, favoring differences over substance. >> we need border security. the wall is a part of border security. you can't have very good border security without the wall, no. >> we're not paying $5 billion for the wall. we're simply not. reporter: what does each side mean by wall?

president trump already using money given to him by congress, is stalling 120 miles what you see there, what he calls a wall in texas and california. that is in addition to 650 miles of barrier that already exists on the border. half of that only stops cars. it is that vehicle barrier you see in the corner. the rest is a lot of old and ineffective stuff from the vietnam wore. the president wants another five bill to build 215 miles of new barrier here inst, el centro, yuma, el paso, some analysts doesn't say to be a fence for it, now against it, because jump calls for a wall. >> they voted for the secure fence act. they voted multiple times for border fencing. no moral difference between a fence and a wall. makes no sense. only argument to deny trump the wall because they hate trump.

reporter: what we're really waiting on right now exactly what is in the 5 billion-dollar package. it does include judges, i.c.e. agents, border patrol. that may be factor. connell: melissa has been basically saying this, don't call it a wall. semantics. charles. charles: facebook trying to calm your fears. the social media company working to assure users their data is safe. are they doing enough to keep your information private? >> on scale from one to 10, how much do you trust facebook with your personal information? >> five. >> i think there is more, we put more on it than we realize.

charles: damage control and hot cocoa. facebook addressing growing concerns about its data-sharing practices with a one-day, privacy pop-up in new york city. >> our goal is for people to feel good about their experience

on facebook. we want people when they're on facebook during this time of year, at all times, to feel safe. feel like they know, they know how to protect our data. charles: but is it enough to convince users that their data is safe? "after the bell," we hit the event to find out. >> how confident are you in trusting them in the future with your data? >> not super confident. >> i would not say i have full faith in the platform. >> i am concerned about it. >> i would rather my personal information not be sold or used. >> i'm hesitant to delete it, but if it doesn't get better pretty soon, i will. charles: lance ulanoff, a technology expert. lance, it is so interesting, because you have these countervailing forces here. people want businesses to be able to do what they do but they feel like this company is abused the privilege, custodianship of our information. they probably are going to force some sort of change there.

>> absolutely. we never really had anything quite like facebook in our lifetime before. it has grown into this massive thing, 2.5 billion users. everybody is on it. everybody has been sharing information for years. and really only in the last 18 months or so, people woken up to the fact what happened to their data and not adjusting their privacy settings properly. i was looking at photos from the popup, facebook trying to explain, we don't sell your personal information, we try to share ads that align with your interests so connected with advertisers and users but obviously been a very rough 18 months with cambridge analytica, with breaches, the leak of emails that kind of painted maybe a not so great picture the way facebook is running its business. it has a lot of work to do. a one-day popup in bryant park is obviously not the solution. it was to me, it is just a publicity stunt to try to get us

talking about facebook, and that they're serious about this, but to win back everyone's trust is going to be a long term project for facebook. it has so much to do. charles: along that line, i spoke with a professor the other day who suggested we might even need a constitutional amendment as americans to protect our privacy. the more we put it out into cyberspace, whether our google searches or the intimate things that we may put on facebook, could you see the pendulum swinging so far that either we need more rights to protect these rights and this privacy, or would a solution be somewhere where we actually have part ownership of it? if it is sold, we get a piece of the action? >> well, look, you're not going to have a constitutional amendment because it would take forever to get anything done there. it just wouldn't happen in time but i really believe in 2019 we're going to see some regulations coming down. many of the companies have said that they support it.

i think they support it because they know there is no other option. so, you know, we will see some kind of regulation, similar to the gdpr that we've seen in europe, that already had an impact on a lot of american companies. we'll see something here that is going to draw some sort of red line about what can and can't be done with our information that will better protect our privacy. it will probably going to change how many of our social media platforms work. charles: i got to tell you, just the idea they held this whole popup thing in new york city, i met with the ceo of twitter, i said you guys need to do things in mobile, alabama, des moines, iowa. in of itself a lot of people out there feel like ultraelitists, progressives, they're so tone deaf to half the nation their policy is actually harm the very users that use their products. >> well, certainly you know, having this one popup in new york city was about drawing the media in, which would deliver the message.

i really think that's why they did it. but, yeah, it needs to be a much more comprehensive broad-based approach to teaching people how facebook works, how it is using your data and how to change your privacy settings. after all the trouble of cambridge analytica, a large percentage of people started to look at facebook privacy settings, started to take time away from the platform. there is still again, just more work that needs to be done. i really do believe that people have much more control over the data than they think, but most people just use these systems and just don't ever check their settings. charles: let's hope they find out for everyone's sake, even facebook, whose stock is under pressure. lance, thank you very much. >> my pleasure. connell: reaching the boundaries of space. virgin galactic's spaceship successfully climbing 51 miles high today, bringing the company one step closer to commercial space tourism. how about that? founder richard branson says he wants to be first on board the

six passenger craft. him and elon musk. there you go. charles: twins. trade concerns hitting america's farmland. how the president's tariffs impact our nation's farmers and the price you pay at supermarket. that's next. but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell.

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charles: what do you get when you put a capitalist and a farmer together? the davos of farming. the farming business network hosting the annual summit this year in omaha, nebraska, where farmers learn about new technologies and opportunities. kristina partsinevelos, right in the thick of it, fitting right in as usual. kristina. reporter: i have to be right here. it is very exciting. we have independent farmers, greg, won't tell me how long he has been farming, decades

through school, generations all throughout your family. walk and talk. everybody is working hard. they're sharing data. that is the point of the conference. you have a lot of technology and a lot of data. i want to get to some topical things like trade and tariffs. how has this affected your crops and sales and exports? you are a farmer of soybeans, grain, wheat as well. >> we're sitting on grain inventories because we lost about two dollars every 10. >> oh, wow. >> in market appreciation. we're waiting for the market to come back based on the trade war. reporter: you're waiting. how do you feel? are you optimistic it will come back? because china did make a promise when it came to soybeans they would be buying more. >> right. reporter: where are you on the scale? >> we're 70% positive. we're hoping for some good news. good news is a selling opportunity. reporter: that's cool. walking this way. we have people behind me,

subsidies came out in the summertime, 12 billion, put in a dent, helping offset some of the financial losses? >> it helps. reporter: it helps. what about the technology here? focus of entire conference, you have google here and big players. how does that change your farming? >> data is a big piece of farming operations. we gather a tremendous amount of data. the data we improve upon how we analyze the data and use it for decision making. reporter: do you analyze it? >> we're working on it. reporter: we're the davos of agriculture, farmer to farmer conference. omaha. back to you. charles: i love the enthusiasm. even when the chips are down. we love our farmers plus they feed us. kristina. thank you very much. appreciate itp. connell: that is the real reason. china meantime slashing auto tariffs on u.s.-made cars. the president actually spoke about that very topic in a fox interview this afternoon. we'll bring you his latest

comments and some reaction next. ♪

>> let me tell you what happened they lowered their tariff on the car from 40% to 15, 15 is not acceptable, still 52 high. too high. >> but better. >> we charge them 2 1/2, now we charge 25%. >> president trump explaining why he is confident about his strategy on trade war with china. joining us from washington. john, in correct me if i am wrong, pretty much back to where we started auto tariffs with china. resetting things. >> we were at 15%, in retaliation to tariffs u.s. put

to china we were at 40%. we're where we started. i do agree, we have to keep making progress. >> 3 companies onboard, stock prices, ford, general motors, tesla, one of three is green. makes sense, tesla. only one it would help is tesla, they make their karrs here -- cars here, the thinking this helps company you deal with? >> it helps everyone, but helps exporters. bmw, and daimler and tesla export, a lot of vehicles from u.s. to china, no question that is beneficial to get back to where rest of the world is with u.s. -- regard to china trade. >> many of other companies, what we consider u.s. companies. thigh mak -- they make their che cars in country.

you have a best case scenario that you have been able to put together? if your clients ask you, how is it going to shake out? is it -- what do you tell people to hope for? >> i think that is a great question. it still unclear at-this-point. there is a lot of risk still there. it is good to have a negotiating strategy. as we've seen with mexico and canada in the new nafta, usmca, the tariffs go on easily, it takes a long time to come off, steel and aluminum tariffs on canada and mexico. i am still concerned we might not be able to have clear sailing we need yet, and certain too that long lead time industries like autos need. >> i can tell you, last week, they assume they are going to stay. i know a lot of people thought it was a negotiating tactic, to

your point, they have not gone away, it could be a new normal. >> that is right. that is the concern. there are consequences to high tariffs imposed on autos. no question, it could be painful for consumers and raise cost of the production in u.s. >> are prices going up? this is the argument for people. >> i'm not sure that is the case, i think companies made profit warnings with regard to steel and aluminum, i think that pricing go up as a result. >> could, and we'll watch and have you john to talk about it thank you for joining us. >> thank you, connell. >> thank you charles payne for r joining us, filling in for melissa. he did bring key attributes to table. >>s i did see your tweets, i get it, i am not melissa frances.

>> we used to have a regular show, tweet us if you know the name. >> do. >> we try to forget about it. >> we're looking for the person that used to watch it. >> bulls and bears with david asman starts right now. david: i am david asman on bulls and bears thank you for joining me, we begin with latest u.s.-china trade develop, new survey, finding trade war between two country is biggest threat in their mind of the u.s. economy in 2019. president trump speaking saying things for in the right direction. >> we have placed tremendous tariffs on china. whether china sends thing