lou: good evening, everybody. president trump has restored america to prosperity, he's restored americans' faith in our future, and the president has delivered on his promises of more jobs, better jobs, higher paying jobs, creating a vibrant, robust economy with the lowest unemployment rates in a half centuriment the president's economic -- century. the president's economic success puts him in a class with only fdr among presidents, and today he reviewed some of his results in his first 25 months in office. >> our country, needless to say, is doing fantastically well. we're setting records. over 100 days of stock market wins, meaning the highest in

history. over a hundred days we've had of stock market wins. our unemployment numbers are the best in 51 years, and for certain groups -- african-american, asian-american, women, now 71 years. but the other groups and hispanic-american, historic lows on up employment. lou: the left-wing national media, the radical dems, the rinos refuse to publicly credit president trump, although that's beginning to change. but wall street, the koch brothers and the chamber of commerce, or chamber of horrors if you prefer, are seething with jealousy and animosity, and they howled like hyenas today when the president said he would raise tariffs even higher if china doesn't do a deal by friday this week. the establishment and the left can't stand that this president refused to acquiesce to china, put america first and demanded the end of decades of high trade

deficits, refused to allow the chinese to go on stealing hundreds of billions of dollars in u.s. tech and intellectual property each year. these past few weeks haven't been easy, but the president has been at his best, leaving his skeptics, critics and opponents stunned and his supporters simply exultant. we take it all up here tonight. gordon chang, former white house chief strategist steve bannon, congressman mark walker, all among our guests. the national emergency at our southern border is worsening. the mexican drug cartels controlling much of that border and overrunning one border town in new mexico, smuggling illegal immigrants and loads of deadly drugs across the border. "the new york times" finally agrees with president trump. "the new york times" in its editorial today declared there is, indeed, a border crisis and declared it must end now and that democrats must support this

president. former acting director of i.c.e. tom homan among our guests. our top story tonight, the u.s. trade representative, robert lighthizer,ed today announced that the chinese had reneged on some of the agreements reached in recent months and weeks of their talks. president trump not pleased, already frustrated by the slow pace of those trade talks, and today president trump put china on notice. if there's no agreement by friday, president trump is ready to raise tariffs to 25 on chinese -- 25% on chinese goods. this as the chinese trade delegation has been preparing to leave beijing and travel to washington to continue the talks. edward lawrence in washington tonight, he has the latest for us. ed? >> reporter: hey, lou. u.s. trade representative robertize higher and treasury secretary steven mnuchin are moving the terms we're moving backwards, substantially backwards. tomorrow a registry notice will be filed to raise the tariff

percentage from 10% to 25 on $200 billion worth of chinese goods being imported to the united states. starting at 12:01 eastern time on friday. the trade representative also says that he will start the process in the next with two days to put 25% tariffs on $325 billion worth of chinese imports to the u.s. that's about everything that china imports into the united states. now, what happened over the last two days or weekend, the latest draft that came in of 150 pages had substantial changes to it. those changes rolled back concessions that the chinese had made across multiple platforms during a number of different meetings. u.s. trade representative robert lighthizer saying he's not willing to reopen documents that have already been agreed to. he says they're moving backwards instead of forwards with this agreement. now, some economists say the tariffs have not hurt our economy, and this latest move will also not hurt us, but then. >> the reality is with the tariffs the economy has grown

much more rapidly in the united states and much more slowly in china. the chinese are bicycling president trump, thinking he's weak, he's vulnerable with re-election coming up. >> reporter: steven mnuchin says in order to change these tariffs and not raise them, the chinese would have to come back to the table on thursday and friday and put back the concessions they rolled back as well as negotiate in good faith the last 10% of the agreement that needs to be done. there is a chinese delegation that's coming here on thursday and friday. the staffs have been talking. they do not know, the treasury secretary or lighthizer, know if the vice premier will be here for those meetings. they have not had contact with the vice premier since they last met face to face in beijing last week. lou: if the vice premier is not here, does that effectively doom the talks? >> reporter: it does. he's, basically, the only person that can sign off on an agreement. you know, sitting in the meeting with secretary mnuchin and u.s.

trade representative robert lighthizer, it seems that there probably is not a chance that these tariffs not be in place. they will be in place, according to robert lighthizer, starting on friday. they do expect them to be imposed. they don't expect, it seems, an agreement to come off the meetings this week. they believe the chinese have basically done an about-face on this trade agreement, going back on almost everything in all of the multiple sections that they have already closed. lou: you know, a remarkable retreat for the chinese. and speaking of losing face, they're losing immense face around the globe. ed lawrence, thank you so much. appreciate it. reporting from the white house. our first guest tonight says the united states should, in fact, raise the section 301 tariffs until china stops stealing our intellectual property, our technology. joining us tonight, gordon chang, columnist, author, senior fellow at the gatestone institute. this is, as i say, a remarkable retreat on the part of the

chinese. it's, on one hand, disappointing. i think probably some would say, well, this should have been expected. but this trade delegation on the part of the united states led by lighthizer and mnuchin, it is, it's got to be frustrating to them too. but this is a real sign of weakness on the part of the chinese, to do it at this stage, is it not? >> oh, definitely, lou. xi jinping, the chinese ruler, when he saw the concessions that the vice premier had made and offered to lighthizer, he took them all back, and that's the reason why you have the reporting you've just heard x. that really means xi jinping, i think, realizes that he's in trouble. he owns the trade war. he's being blamed for the who lost america discussion in beijing, and he real zs that the -- realizes if he doesn't get a full 100% win, he's in trouble. so that's why they're taken back the concessions. he'd rather not have a trade deal, and we're at a point with

where you just can't talk to china because xi jinping is not in any mood to talk in good faith. lou: it is striking that the koch brothers, the chamber of commerce, the business round table are clacking, basically demanding the president do a deal, any deal. they look like abject fools. this morning they were insisting that the market decline because of the prospect of raising tariffs. the president had announced by friday if there's no deal. they look -- and today the market couldn't even put up with the establishment nonsense, reeling off almost 500 points early, but then to lose only 66 points by the close. this was a real market vote in support of the president. >> the united states is a really vibrant economy right now. youd had that 3.2% growth in q1 -- lou: i love the way that rolls off your tongue, like it's a -- it's amazing what is happening

in this country. 3% growth last year, 3.2 the first quarter at the same time, you know, the hyenas are barking at the moon about the new normal. they said it's just not possible, blah, blah, blah. and then when it occurs, of course, they say it's a sugar high from the tax cut k and they forget about seven rate hikes in the first two years of this presidency of donald trump by the fed. >> yeah. and the important thing is that the growth rate in china, in reality, is a lot lower. and people are saying -- lou: they're in deep and desperate trouble economically. >> definitely. and also they're very dependent on the u.s. last year china's merchandise trade surplus with the u.s. accounted for 129.6% of its overall merchandise surplus. that's extraordinary dependence on the u.s. mark. and yet you have very wise people in the u.s. saying, oh, you know, we should give in to china. this is ridiculous.

we've got all the high cards right now. the only thing that -- lou: which the president has been saying from the time he was running for the office that he now holds. >> yeah. lou: that the united states has the superior position in part because of the tremendous deficits, stray deficits that we've been running. >> yeah. when you look at all the objective factors, we have an economy last year, china claimed only $13.28 trillion. our economy in reality is growing faster. we're not dependent on selling things to china, but china is very much dependent on selling things to us. lou: think of the mindset that's been created primarily by the business lobbyists and wall street, u.s. multi-nationals. and that is that the united states should just simply acquiesce before the mighty dragon that is china, blah, blah, blah. and do you know how that has just settled across the mental landscape of this country until president trump reversed it and

actually started talking about the bright future and the destiny of this country. it was reversed, it started being reversed from the moment he stepped into the oval office. >> you've got a lot of people in this country who say, oh, you know, let the chinese steal, and then let's buy the products they produce with our intellectual property. lou: by the way, think about those morons because those morons are some of the biggest names on wall street, some of the biggest names amongst u.s. multi-nationals represented in the business round table, the chamber of horrors, the koch brothers themselves. it is striking that they would put america not first, but i don't know that we could even see the end of the line at which they would put the united states. >> yeah. you know, you think about all this, we've got some really smart people in the u.s. that say, oh, we should decline, you know, we should just recognize that reality that china will take over. we've got a president who, like reagan said, no, i'm not buy it. lou: this president has just

sent two warship toss the straits of taiwan concurrently, imagine that. gordon chang, always great to have you here. >> thanks, lou. lou: up next, the rad cam dems' seek and destroy mission turning toward attorney general william barr. they have chosen, we will tell you here tonight, exactly the wrong target. we'll take that up right after the break. congressman mark walker joins us. also the trump agenda leads america to unprecedented levels of prosperity. we're all americans. former white house chief strategist steve bannon among our guests here tonight. we'll take that up with him and much more. stay with us, we're coming right back. ♪ ♪

lou: treasury secretary steve mnuchis denied the radical dems' request to see the president's tax returns, a statement from the treasury secretary reads in part, quote: the committee's request is unprecedented, it represents serious constitutional questions, and the resolution of which may have last aring consequences -- lasting consequences for all taxpayers. i have determined that the committee's request lacks a legitimate legislative purpose. the department is, therefore, not authorized to disclose the requested returns and return

information. desperate dems on the house judiciary committee scheduling a vote for wednesday. they're trying to hold attorney general william barr in contempt. chairman geralded thatler still demanding an unredacted version of the mueller report. this despite federal secrecy rules that prohibit the release of grand jury material the, amongst other things. joining us tonight is the vice chairman of the house republican conference, congressman mark walker, also a member of the house homeland security committee, the education administration committees and the intelligence committee. good to have you here. >> good to be here. lou: congressman, let's start with, first of all -- [laughter] were you surprised by treasury secretary mnuchin's response? >> no, i like what some of these cabinet secretary it is are doing. in fact, it was just last week when the democrats thought they would tell attorney general barr what he would do, and he just flat out said, no. and today mnuchin did it a little more eloquent and said,

no, this isn't happening. lou: it is a wondrous thing to behold, as you suggest, when barr said no. what would you do -- [laughter] them, he said? and to see the treasury secretary say no, you're being preposterous, politically motivated annoyances and go away. >> sure. look at the history there even for attorney general with loretta lynch and eric holder. people that, obviously, the administration was able to ploy and pawn whatever they needed to take care of. now you have some strong people in these positions who are saying, no, you not going to use me as a legislative pawn in this game that you're plague. i think, ultimately, it's going to backfire on the majority of these democrats. lou: even this situation with the judiciary committee and jerrold nadler, he's already overreached, without question. it's very clear the laws and regulations that the torn general is following -- attorney general is following, appropriately and legally so.

they're gong to be, if they have to go to court, they're going to look like abject fools. you can't depend on the left-wing media to report faithfully that, you can't count on, you know, the democrats to stop themselves. but the courts will. >> they will. and here's the thing, lou, i've been in congress now for about four and a half years. some of the elder statesmen in the democrat party, they know what's going on here, but they are being hog tied by some of these new members, drug further and further to the radical left. they have to play the game and jump through the hoops just to stay relevant. it's going to cost them, ultimately. lou: and there's an interesting turn, and that is on the part of "the new york times," saying in its editorial today to give the president the money he's asking for for the southern crisis which "the new york times," of all outlets, acknowledges for at least the humanitarian cost of that crisis. >> yeah. well, at least they're moving gradually. i think it took jeh johnson, the dhs secretary under obama, to

call it a humanitarian crisis. but for them to block the president or say we're not going to support the $4.5 billion when the whole reason they're arguing is a humanitarian perspective, it shows you the level of hypocrisy that is the democrat party today. lou: they're not short of man ifsations of hypocrisy, are they? let's turn to the crisis itself. what do you think of the acting director of homeland security, secretary of homeland security, kevin mcaleenan? >> i think he's coming out strong. being a ranking member on the committee, we work directly, very much so, with dhs, even jeh johnson was there when i first arrived in congress. this is somebody who needs to identify the issue and then to message will. most of the american people had no idea of the trafficking that was going on, on the amount of drugs. even as a member of congress, we doesn't really get all that data til late last year and early this year. when the american people started

finding out how big the crisis it is, they sided with the president. so we need to make sure we continue to talk about just the travesty that it's become. lou: and to see the number of americans now agreeing with president trump that it is a crisis. it's moved 17 points from january to last month -- >> it has. for whatever reason, the democrats aren't using that talking point anymore. once you've educated the american people, when it's this, the economy, other areas, they're going to say, wait a second, this president trump's looking okay. lou: and let's turn very quickly as we run out of time here, congressman, to the strike group, the aircraft carrier strike group that's headed toward the persian gulf in response to a threat from iran. what can you tell us, your thoughts? >> thank goodness the president showed strength a year ago to get us out of this horrible treaty that sent hundreds of billions of dollars that we now have evidence was being funded to hamas and hezbollah and other terrorist groups.

i think it's another sign of strength that we're going to show to the middle east that we're leading on these issues. lou: congressman, great to have you with us. congressman walker. look forward to seeing you again soon. >> thank you, lou. ♪ ♪ lou: life imitates art. forty years later. a british cage diver capturing this image of a great white shark. this is a real, live 17-foot great white highwayed for the surface off the west coast of mexico. many compare it to the famous poster for the '75 movie "jaws." there's at least one fortunate difference, no swimmers in sight. that sort of gives me chills just hearing the music again. up next, the new leader in central america warning of china's rising influence in the region. what will america do? we'll take that up and more with national security expert fred flights who joins us after these

quick messages.

♪ lou: panama's president-elect warning the united states about china's rising presence in central america. the president-elect says the united states must act or face losing more of the region to china. panama and china reestablished diplomatic relations two years ago. last december the two countries signed 19 cooperation agreements on trade, banking, infrastructure and tourism. joining us tonight, fred fleitz, national security expert, president of the center for service policy. fred, good to have you with us. >> good to be here. lou: let me start, first, with the iranian threat, apparently a significant threat. the united states -- the president choosing to send a carrier strike force and a bomber task force to the region

to pond to any -- to respond to any action by the iranians. what do you make of it? >> well, lou, it's worth talking about this carefully. this is a show of force in response to credible intelligence that the iranians are planning an attack either against u.s. citizens in the region or the citizens of our ally. but, lou, this is not a preparation for war with b iran. and i say that because cable news and the internet's gone crazy today saying that. you and i have discussed this with the president -- lou: you mean the other cable news. >> well, that's right. not this channel, of course. the president's been very clear, he does not want to start a war with iran. but the use of force is available if he has to use it. i mean, i think he's a credible president, but he does not want us to get -- he does not want to get us in more wars. lou: i don't think there's any doubt about that, frankly. i'm sort of surprised to hear you say e it because this is a president who is withdrawing our troops, trying to minimize the exe pose your of u.s -- exposure

of u.s. forces. so one would not expect otherwise. but also one would not expect other than this president to react to a threat against u.s. interests or americans anywhere around the world. >> the presence of u.s. troops, this deployment of bombers, the aircraft carrier, hopefully, will stop iran from engaging in violence. and i think it's -- lou: what do you think will be the reaction of the iranians? >> well, i'm sort of, i'm sort of dubious if the iranians are going to do something directly. i think they're going to try to do something without their fingerprints on it, such as launching a terrorist attack with a proxy group -- lou: yeah, but as you know, the national security adviser has made it clear whether it's hezbollah, hamas, whether it is a proxy, it doesn't matter. the consequences will fall upon iran. >> and in this case, there will be consequences. you know, the harassment of

american ships in the persian gulf has ceased by those little iranian ships. the reason is because the iranians know that president trump will respond with military force if our forces are put at risk. that's what happens when we have a credible president who will use force if necessary but who does not want to start unnecessary wars. lou: and do you anticipate, what, that this is going to be sufficient? do you believe it will be sufficient, or will there be a test? >> i think it's going to be sufficient. i think the iranians are probably thinking of an act of terror, and i imagine they're going to change the timing of it. i don't think they expected a response like this to this intelligence, assuming that this intelligence is valid. lou: well, this intelligence from, apparently, the mossad, the israelis sharing this intelligence with the united states. now after, what, 700 rockets

launched against israel, are you surprised that netanyahu decided to stand pat here? >> well, this is a very serious matter, you know? about 90% of the rockets fired at occupied areas were intercepted by the iron dome. that was about 280 rockets. this is a very serious situation. and a lot of these rockets were paid for and probably built in iran. and i think there's going to be serious consequences for what happened in gaza. netanyahu is not done dealing with the situation. this ceasefire, i'm afraid, is just temporary. lou: fred fleitz, always good to have you with us. good to see you. we'd like to hear your thoughts on all of this. follow me on twitter@lou dobbs, like me on facebook, follow me on instagram. still ahead, an update to the disturbing video of philadelphia school children talking about beheadings. also cartels overrunning part of

the southern border with mexico. former acting i.c.e. director tom homan joins us right after the break. we'll have the latest for you. stay with us. ♪ ♪ ♪ ♪ ♪ ♪

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lou: headlines tonight, the muslim america society of philadelphia says it's not responsible for that disturbing video posted on its facebook page in which we showed you here last week,

showing young girls speaking in arabic about sacrifice and then chopping off heads. they say it was posted by a local leaders academy that rented space from if the society. curiously, they can't remember the name of the entity and didn't return our phone calls or e-mails to seek further comment. a very disturbing result in philadelphia. an unexpected headline from "the new york times" today, as i said earlier. congress, reads the headline, give trump his border money. the column, by the paper's editorial board says, quote: president trump is right, there is a crisis at the southern border, a crisis of overcrowding, disease, chaos. otera county, new mexico, says it's been overrun by mexican drug cartels since the feds recently shut down two border checkpoints in the area 90 miles north of el paso. the sheriff saying his deputies

seized $60,000 of deadly drugs in april, up from $3500 in january when the checkpoints were still operating. joining us tonight, tom homan, former acting director of immigration and customs enforcement, fox business contributor. great to have you with us. tom -- >> good to see you, lou. lou: let's start with this otera county in new mexico being overrun. we know there are other counties sharing exactly that experience. we are really drawing down resources at the border. your thoughts about that and what should be done. >> well, first of all, you're talking about new mexico, right? they've got a governor there that believes in open borders. lou: right. >> she pulled the national guard off the border. she used to be part of the congressional hispanic caucus. she went after me every week when i was the i.c.e. director, and she was out this, she believes in open borders. first thing, she needs to look in the mirror. she needs to prove to her

citizenry that she cares more about the health and safety of new mexicans than open borders, first of all. so i think, you know, with the numbers up where they are the, i think they need the shift resources to that area and address it, because the governor's failed to address it. lou: it's a disturbing dilemma if, frankly, with that governor pulling those resources and then basically saying to the border patrol, we need you to fill that in. there has to be some accountability here, and just as we're watching lawsuits against sanctuaries in this country, a governor who refuses to defend the state surely faces some accountability besides being at the voting booth. >> and i hope the citizens of new mexico remember that during the next election. look, i knew when she became governor -- i know who she is. she's about open borders, she's anti-i.c.e., she wants to abolish i.c.e., she's anti-border patrol. so, look, it doesn't surprise me

there's a border security issue there. you know, she needs to step up. her number one responsibility is to protect9 the citizens of new mexico. now's the time for her to step up and do it. the border patrol's going to do everything they can, but why would she pull law enforcement resources that she owns off the border or even the national guard? why would she pull 'em knowing this issue is out there? the ranchers have complained and complained and complained about drug cartels, heavily armed, walking through their ranches, and she ignored it. that's, to me, she needs to be responsible for that. lou: well, and the government of mexico, frankly, too. i think you would agree, tom. they're not prosecuting these drug cartels. they're not enforcing law. those cartels are running, running northern mexico, would you say that's a fair statement? >> absolutely. look, nothing happens on the northern border of mexico without the approval and paying off criminal cartels. you and i have talked about this

many times. they're operating with impunity in mexico. mexico actually has laws on the books against alien smuggling and trafficking of women and children. these cartels are making millions and millions of dollars every day. one-third of the women are being raped by these cartels. i mean, when is mexico going to stand up do the right thing for their most vulnerable population are passing through mexico in and i've said it many times, they're doing something in mexico, but they have not yet attacked the cartels that are controlling, managing this entire flow. lou: i want to turn to a news development that i found striking. john kelly, the president's former chief of staff, joining the board of caliburn international, a company that detains una accompanied illegal immigrant children. your thoughts about his work with that company. >> well, look, i respect john kelly are. i mean, the man served 40 years in the marine corps, i think

he's an american hero for that service. i think, look, detaining of children is a necessary thing that we have to do. which the democratic leadership don't want to accept, but they enacted laws called the trafficking victims protection act which says i.c.e. and border patrol must hand over kids to hhs within 72 hours to be detained until they find a sponsor. someone has to do that work. so, look i think john kelly is a talented man. he knows this issue because he was the secretary of homeland security for a while. i think he can, you know, help this company do this very important task. look, these children that come across on their own, the numbers are sky high. you and i have talked about this, when they sign that appropriations bill a few months ago, the democrats put language in there that i.c.e. cannot arrest or even process a parent or sponsor even though they're here illegally and they hired a criminal organization to smuggle their child here, i.c.e. can't touch 'em.

hands off. when that bill -- lou: who would you say is responsible -- >> democratic leaders. democrats put that language in the bill. and they want to attack i.c.e -- lou: but who let it go through, who let it go new the bill? through the bill? >> it got passed by that committee, and i was, i was screaming and yelling about that one section, because i said it's going to result in a surge of -- parents and sponsors won't be held accountable. and what really upsets me, lou, is that the democratic leadership keeps saying separating families, how dare you separate families. what a horrendous thing you did. but they put language in a bill that put these kids in the hands of criminal organizations. i think the government takes better care of these kids than criminal organizations. children have already died, they continue to die. so when they three numbers of -- they see these numbers of crime, they need to look in the mirror because they purposely put that language in to bring more children to this country.

and it's just, it's disgusing what they did, because they put more children at risk. and more children are going to die, and more children will be smuggled because the people who get into this criminal conspiracy can't be held accountable. lou: tom homan, always good to have you with us. thank you, sir. >> thank you, sir. lou: up next, more than two years after the fact, hillary clinton has a new reason why she lost to president trump in 2016. you may have read all of her book, you may have heard all of her excuses. we have a new one to add to the list. we take it up and more after the break. we'll be talking with former white house chief strategist steve bannon. stay with us. hmm. exactly. liberty mutual customizes your car insurance, so you only pay for what you need. nice. but, uh... what's up with your... partner? not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪

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lou: failed presidential candidate hillary clinton continues her complaint and whine tour, unable to, apparently, let go of her loss to president trump in 2016. >> as i've been telling candidates who have come to see me, you can run the best campaign, you can even become the nominee, and you can have the election stolen from you. [cheers and applause] lou: i think she was channeling, if i'm not mistaken, bernie

sanders. she stole that election, did she not? clinton's comments in inglewood, california, coming in front of a crowd that paid as little as -- are you ready for this? -- $2 a seat. the two folks who sit there, they're worth over $100 million, $200 million, and they want somebody's $2 to have an evening? that's astonishing. joining us tonight, steve bannon. he's former white house chief strategist, former senior counselor to president trump. he is a great american, and it is good to see you. >> thanks for having me, lou. lou: let's start with, i mean, let's ignore the clintons, shall we? can we do that? >> i think it's pretty easy to do. the gifter tour. lou: i like are it. >> cheap at any price. [laughter] lou: you got it. this president standing up today and saying to xi jinping that, you know, you can renege, you can do whatever you wish, but

there will be consequences. this is the man we elected, period. this is a great president. >> i think you compare and contrast hillary clinton to what donald trump -- i happen to think today was the most important day of donald trump's presidency. lou: really? >> yes. listen, he's president of the united states because of the rejection of working class people and middle class people about managed decline of our country at the hands of people like hillary clinton. the clinton global initiative, you know, the whole clinton apparatus. these globalists and elitists were very comfortable with the managed decline, particularly vis-a-vis the rise of china. and donald trump confronted that, particularly in the upper midwest. this is the reason he won states like pennsylvania, ohio, michigan and wisconsin. people understand, like j.d. vance, the great sociologist who wrote "hillbilly elegyies. the factories and jobs went to china, and the opioids came in. trump understands they're about

self-empowerment of the working class. today he said to president xi and the chinese apparatus which continually -- whether it's clinton, bush or obama -- the permanent political class, they've tapped along, reneged on every deal. trump said you're not going to come back and retrade us. i'm going to hit you with the tariffs, and i think this is a very big week in american economic history. lou: i couldn't agree with you more. and to think the opposition that this president has faced, the unregistered foreign agents that are represented on wall street, the koch brothers, the chamber of horrors, the business round table, u.s. multi-nationals and their lobbyists. the idea that this president has to contend with them while he's also negotiating with xi jinping and his emissaries, it is, it's stunning that a president has had to face this kind of opposition, this kind of

disloyalty and an active conspiracy to overthrow his presidency. >> let's leave aside the nullification project for a second. let's just talk about china. in china, the resistance he's had from the i.r. department of the chinese communist party, the lobbiests of corporate america and the pressure if has been relentless. and it's all the fear project just like in brexit. project fear that if you don't actually get a deal that's just about buying more soybeans, you're going to have a collapse of the stock market, economic catastrophe. president trump has stood up against that. president trump says, no, this is an economic war. we're going to have fundamental, structural or change in the state capitalism that china has. china has this system of state capitalism. we are going to get changes on forced technology transfers, intellectual property. these are deep issues. and here's the reason this treaty broke down this week. they had the belt and road

initiative, they had 40 countries, they said, hey, we're doing fine, do we need the americans? all of a sudden you saw them saying we're going to put this out to the public to see. remember, this is not against the chinese people. president trump is actually assisting the chinese people. this is against this radical cadre of the chinese communist party. and i've got to tell you, they're supporters on wall street and in corporate america should be ashamed of themselves for the pressure they put on the president of the united states today, over the weekend he said no way, and today he hit the bid. lou: there are so many of the elites in this country, the political ea heats, business elites who should be ashamed of themselves, because in betraying president trump, they've betrayed their country, and they continue. they persist. and to watch what the dems are doing on capitol hill, the nonsense of even thinking of holding attorney general william barr in contempt. this president is under assault

still by the deep state, the radical dems and, of course, the unbelievably petty and persistent establishment of both parties. >> well, here's the opposition party media, the mainstream media and what i call the nullification project, i don't call it the deep state. it's in your grill. it's in your face. they're right there. [laughter] i think this project, the russia thing is a side show to a side show. the beating heart of the problem we have in the united states is this geostrategic struggle we have with this radical cadre of if chinese communist party and our position with china in the 21st century. trump has been a follower of yours, donald trump came into this thing with ideas, that's why he was able to go up to the upper midwest, and working class people said, hey, i understand what this guy's saying. hillary clinton never mentioned it because a globalist. lou: you've got this thing

reversed, i'm a follower of -- >> yeah, but you've been talking about this for a long time. lou: there's an old saying, talk's cheap. what this president is doing -- >> oh, the actions -- lou: historic. >> the pressure he has had, and i think that's what i tweeted the other day. the chinese have done what they've always done to american presidents, and he said, no way. this deal's going to be out in the open and, hey, here come tariffs. lou: here come the tariffs and here comes america. thanks to a fella named trump. steve bannon, come back soon. >> thank you for having me. lou: thank you, sir. mr. bannon. up next, president trump honors tiger woods at9 the white house. we'll have that story right after these quick words. stay with us.

♪ ♪ lou: and on wall street, stocks closed lower. the dow rallied after plunging almost 500 points this morning. it finished the session down only 66 points, one of the great rebounds in market history. the s&p down 13, the nasdaq lost

41. volume on the big board, 3.2 billion shares. crude oil up nearly a percent, over $62 a barrel. gold and silver flat on the day. and a reminder to listen to my reports three times a day coast to coast on the salem radio network. president trump today presented golfing legend tiger woods with the presidential medal of freedom. last month woods won his fifth masters title, his 15th major victory, and president trump talked about woods' extraordinary the career and comeback. >> tiger, we are inspired by everything you have become and attained, the job you've done is incredible. your spectacular achievements on the golf course, your triumph over physical adversity and your relentless will to win, win, win. these qualities embody the american spirit of pushing boundaries, defying limits and

always striving for greatness. lou: and that's it for us tonight. thanks for being with us. good night from new york. ♪ ♪ cheryl: your market movers at 5:00 a.m. beijing consisten confirms the e negotiator will head to washington this week for trade talks, despite the administration's move to tariffs on chinese imports this friday. is the possible trade deal back on track? well, uber and lyft drivers are planning to strike tomorrow over pay and work conditions. but lyft's earnings could be the big worry. since going public in march, the stock is down 16%. today, that could change the game with the first earnings report. what's ride on it for lyft and for uber, who is going to debut their ipo later this week. attorney general bill barr refusing to answer demands for an unredacted russia report.