if you don't like facebook, don't use it. >> i know. david: that does it for "bulls & bears." we'll see you next time. ♪ liz: president trump announcing that yes he'll meet with chinese president xi at the summit this summer as apple's problems helped wipe out gains for the dow. president trump said he will meet with vladimir putin at the g-20. now a lot can happen between now and the g-20 and with peut. and china. we're going to bring all of that to you tonight. and the president taking a swipe at joe biden who is about to hold a rally at this very hour in new hampshire. the president tweeting quote,

china is dreaming that sleepy joe biden or any of the other democrats get elected in 2020. that store coming up. and we will debate hoi house moderates are now on the move. disavowing and separating themselves from the hard left as less than half of house democrats now support things like bernie sanders single pair system. fox business takes on this fiery debate, capitalism vir sus socialism. bernie sanders saying, yes he wants to wipe out all of your taxes. we've got the cold hard facts and answers that they have been saying all along, bernie's plan is a disaster. we're bring you the answers tonight to questions that bernie refuse to give. iran, the u.s. flexing its muscle with b52s in the middle east.

and one israeli cabinet official is worrying that iran with mess with israel. democrats going way overboard. accusations mounting to convictions. they're talking prison now. they're ramping up their calls to lock up attorney general bill barr over the mueller report. that debate tonight. this as jerry nadler, nancy pelosi, al green and now adam schiff all say their goal is to stop trump to getting reelected. critics say this is the constitutional crisis, democrats not doing their job on kitchen table issues. tonight we debate one of the worst congresseses in history when it comes to getting nothing done. i'm elizabeth mcdonald. the "the evening edit" starts right now. welcome took the show. you're watching the fox business network. we have every angle of today's

action covered for you. we have edward lawrence at the white house and the markets reaction to china. let's get to edward lawrence in washington. >> president donald trump will meet, as you said, with the chinese president at the g-20 summit there. the president today is meeting with hungarian prime minister here, dinner later on tonight. but most of the questions there focused around china and the president saying that the two leaders have not spoken actually since the president raised tariffs on $200 billion worth of goods last week. he's not worried about china retaliating upping the tariffs from 5% to 10%, 20% and in some cases 25%. >> while the reaction is very simple, china has been taking advantage of the united states for many, many years. aim not just talking about during the obama administration. you can go back long before

that. and it's been taking out 400, 500, $600 billion a year out of the united states. and we can't let that happen. >> and late today the u.s. trade representatives office released a list of items that they're going to put under tariff. the items currently not tariffed. some $300 billion. those tariffs could go in place after june 17th. that is when the public hearing on this is. china triez to target the farmerers with retaliation and e president loves farmers, working on a plan to help them with 15 imil ondollars. uncertainty is rot ling the market. >> . >> we don't know what the next step is. everyone is looking around trying to think can they salvage a deal. are we in a permanent trade war with the second largest economy ionthe globe. >> and the vice premier calling this a compensation even though

the u.s. trade representative says it's china that pulled back on all of the concession, basically all of the concessions thaconcessionsthat they made. the president saying it was 95% complete. in fact, liz, one more thing, iran, the white house is watching the iran situation. the white house believing that iran is targeting possibly oil riggers who are coming through the strait. they're concerned about that and ready for any action. liz: ed art edward lawrence. thank you. let's get to deadra at the new york stock exchange. >> they were selling across the board as the trade tensions escalated between the world's two largest economies, the u.s. and china. the dow and the s&p 500 saw their deepest drop since january of this year. as for the nasdaq, its deepest drop since december of last year. selling across the board 10 of 11 sector groups of the s&p 500

closer lower. utilities was the only group to eke out marginal gains showing the defensive stance of many investors. three stories stood out. boeing closing down 4.5%, 736 max mad l, its return will be in august, later than the june deadline. that model involved in two separate airline companies deadly crashes in the past seven months. apple closing down worse than 5%. the supreme court giving a green light for a class action lawsuit to go against apple. the charge monopolies tick concerns about apple's app store pricing. uber, only its second day of public trade, that stock down 10.5% and has broken the ipo price by $5 a share.

liz: now china retaliating, telling the world trade organization that the u.s. is quote bullying china after it increased tariffs on $60 billion of u.s. goods as of june 1st. now for reaction let's get to the director for strategy, the awe chuauthur of theauthor of tr marathon," michael pillsbury. what was your' action? >> i was relieved. they could have been much more ferocious. we can't control skittish investors on wall street understanding that that is quite limited by china. overall the mechanism of the trade talks are still in place, a possibility of something big happening at the next g-20 still there. neither said has said anything to break up. this is clearly a situation

where we're on the right, the chai noo renegechinese reneged . i'm around about the chinese negotiator having his title removed before coming last week. he was not only vice premier but he had the title special envoy the president. that took that away last week, told us to never say it again. there's some kind of power struggle going on in beijing, the hard liners are taking back things agreed to earlier. this is cause for concern. but the basic structure of the talks is still intact. liz: that's news, what you're indicating the hard liners taking charge. what should the president do now? >> well the president has known this all along. he wrote a book three years ago in which he talk about a concept i like very much, a good china

and bad china. good china is open to free trade, the bad china is what we have now, a predatory state capitalist system that seeks out advantage, exploits it and then he's really had enough. it's been going on at least 20 years, as i say in the "hundred year marathon." his strategy is to get them to see the cost of continuing this policy. and part of the strategy he knows -- ligh lighthizer testifo this -- there are some that don't want to t empower the system. i'm optimistic that the reformers in china want a faster-growing economy and they think the free market and cutting out the theft, being open to foreign investment, they want to do that. the problem is how to make them do it, the enforcement mechanism.

liz: china's birthright is turning upside down on them. they need economic growth. final word to you. >> the possibility of a good deal is still very strong. what president trump has avoided this past week is very good news. we could have had the chinese sign a deal that did not have solid enforcement, then we would have had straye trade friction r years to come. right now we have it with a good oof enforcement. liz: michael pillsbury, thank you for your insight. president trump is saying that china is hoping that joe biden gets elected in 2020. the president tweeting, quote, i think china thought they were being beaten so badly that china might have thought i'll wait around for the next election 2020 to see if they could get lucky, have a democrat win. in case they would continue to rip off the usa $500 billion a

year. here's what's going on in the u.s. the economy is strong. a trump blue collar boon is here. hillary vaughn is in washington with more. >> hey, liz. president trump is sizing up the 2020 field of democrats that are hoping for a chance to run against him in the general election. and so far the president says he likes his odds. >> all i need is the opponents that i'm looking at. i'm liking what i see. >> the president taking a shot at the current front runner joe biden on twitter, writing quote, china is dreaming that sleepy joe biden or any of the others gets elected in 2020, they love ripping off america. but bide season the only democrat running that's actually dealt with president xi and he's sounding off on hoi he would deal with china in a face-to-face negotiation. >> we should make it quid pro

quo with xi jinping. it should be simple. here's the deal. you say in fact anything has to be owned 50% by chinese to invest in china, guess what. in america it's the same thing he's gone about it the wrofng wg way. >> biden took issue with some the points that he says have gone unnoticed in this negotiations, intellectual property theft is a big problem and he would like to see that as the certain of all of the negotiations. liz: hillary vaughn in washington. great to see you. we're bringing you real word, real facts, real information in the fight against capitalism versus socialism. this is a t 2020 agenda for the democrats. the fight of our generation. first up, congress this week with a health care agenda. but bernie's single pair medicare for all plan half, do

democrats want it. bernie saying i'll wipe out your private insurance and raise our taxes. it's left of what china does. we're going to have that debate coming up. the u.s. air force announcing several of its b52 bombers deployed to the middle east to send a clear message to iran. stop with your aggression. their first defensor mission, the b52s. we're going to ask the israeli ambassador to the united nations about this escalating crisis. that story coming up. in the transportation industry without knowing firsthandness the unique challenges in that sector? coming out here, seeing the infrastructure firsthand, we can make better informed investment decisions. that's why i go beyond the numbers.

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only at a sleep number store. during the memorial day sale, save $1000 on the new queen sleep number 360 special edition smart bed, now only $1,799. only for a limited time. sleep number. proven, quality sleep. liz: breaking news. the associated press reporting that a u.s. official now says based on initial assessments that iran was involved or iranian backed groups were involved in sabotaging four tankers in the middle east off of the u.s. of the uae. this after secretary of state med with. rich has more. >> administration officials claim there is an emerging threat from iran. and speaking from the oval office this afternoon, president trump issued iran's leaders a warning. >> we'll see what happens with iran.

if they do anything it would be a very bad mistake if they do anything. i'm hearing little stories about iran. if they do anything, they will suffer greatly. >> secretary of state mike pompeo spent the day in brussels. he was supposed to be in hoes cow for if the third time in a week rescrapped a stop on the trip. the state department says he's meeting with the nato secretary general, and leaders from france and the united kingdom. brian hook is traveling with pompeo and he says quote, the secretary shared information and intelligence with allies and discussed the multiple plot vectors emerging from iran. iran is an escalating threat and this seemed like a timed visit. if not, iran says it will resume producing highly enriched uranium. this as the soash it press

reports that a vessel was damaged in what gulf officials say was a sabotage attack off of the cost of unite united arab emirates. the two will likely discuss iran along with a host of other issues and differences between the two countries. liz: rich hudson at the state department. thank you. reuters reporting that the israeli minister warning that iran may attack israel. reports that iran is now saying that u.s. hardware in the region no longer a threat. it's target. military hardware they're talking about. joining me now, israeli ambassador to the united nations. great to see you. >> good evening. liz: how real is this threat from iran? >> when they're panicking, they're threatening. i would advise iranians to flee the u.s. we know the might of the u.s.

military. the last thing we want to do is threaten the u.s. liz: the united kingdom is warning about an accident happening, something unto ward that happens many the midst of a conflict that could cause things to spiral out of control. we know the u.s. and secretary of state mike pompeo stopped in brussels and met with officials there. what is your tal is your take ok is saying. >> look at what's happening. the economy in iran is shrinking and they're missing mistakes. they're threatening countries in the gulf, threatening israel. the sanctions will continue. and i hope that europeans will wake up, joining the u.s. and apply sanctions to bring them back to the negotiating room. liz: we've got the hard left of the democrat party saying that the u.s. is too militarily

aggressive here. what's the reaction in the mideast when the u.s. deploy b-52 bombers to the region and is if u.s. being aggressive here. >> i think iran is trying to destabilize the union and they're signaling to the u.s. with all of the incidents that have happened all of the sudden in the gulf. so today the people in the u.s. is supporting them, backing home. important for stability in the region. the iranians are spending $7 billion a year. that's a lot of money. liz: tell us about the human rights abuses too, in iran. they were executing teenagers. >> we don't hear about that. we don't hear about that at the u.n. liz: how bad is it inside iran? >> it's horrible. liz: what's going on? >> the executions.

they don't think of a free press in iran. nobody is speaking about that. it's about time. and i'm saying directly to the iranian people we're with you. and the day will come when you can flourish and build your nation again. liz: here's a question for you out of the financial times rocketer that once voice calls were used to inject smie ware on to iphone and android phones. what's your take on that in. >> i'm not familiar with that report. we're proud of our technology and innovation. i don't know of anybody listening to our phone. nothing new about that. i don't know about that specific report. liz: thank you for joining us. really appreciate it, sir. several other stories we're tracking to night. president jimmy carter recovering from surgery to repair a broken hip after falling this morning at his home in georgia. the former president on his way to go hunting for turkeys when it happened. the e. coli breakout just

got worth. 57-tons of beef were recalled. now the cdc says 19 more people have gotten sick since the last update from the cdc. the total now is 196 people, 28 of these patients have been hospitalized, including two for a type of kidney failure. the cdc warns that in spite of the recall there may be more contaminated beef. so check your refrigerators. 187 nations, nearly every single one around the planet signing a limit to limit plastic. plastic pollution in the waterways and the ocean. but the u.s. is not one of them. and has not ratified that convention. so the u.s. was not involved in those negotiations. fox announcing that it is now renewing "empire" the series of its upcoming season and after

previously announcing it had no plans of bringing back the character of jussie smo smol sm. avengers "ends game" topped the movies peek chew. now the third highest grossing movie. finally, actress doris day has died at the age of 97 from complications of pneumonia. hollywood's original girl next door was best known for her roles in the '50s and '60s and also for her chart topping hit song. she earned an oscar nomination for the movie "pillow talk." the battle lines drawn between capitalists and the socialists. it is real. it is happening.

where do the democrats 2020 candidates fall and u are they stepping up with answers? we'll show you how they're not answering serious questions. a show june between the white house and the house democrats other getting president trump's tax returns. it's ratcheting up. a judge is expected to rule tomorrow. that debate coming up.

liz: well, we bring you a real live life debate. it's no longer academic. never before have we had to debate capitalism against socialism like we are now. wet' getting close to the 2020 leks and the democrats are trying to say this is not an issue but it is. we're gowrng to take a deep dive into the socialist policies. you're not going to get answers from the 2020 democrats. you will from watching shows like ours. jackie is here with a breakdown.

>> a as the 2020 election approaches, there's increased discussion regard socialism. private versus government ownership. individual versus collective goals. high versus low competition. individual versus shared wealth. socialism is gaining traction with america's youths, ages 18-29. according to a gallup pole on this age group, 68% viewed socialism positively, now only 45% do. in bernie sanders said, quote, democratic socialism to me is creating a government, economy and society that works for all rather than just the top 1. but what if competition, innovation and free markets are no longer functioning. can wealth be regenerated to continue to support a socialist agenda? that's a question that needs to be answered ahead of the poll. liz: thank you.

here's the issue. medical professionals across the country, doctors, surgeons, nurses say that bernie sanders socialist single pair plan would collapse the system and bernie refuse to answer questions about that on the cost of the fallout of his government run health care plan. anlet's bring in our guest. >> it won't sustain it. 180 million people without private insurance. crazy. liz: it's interesting. we crank into the number, drilled in. there are 25 surges done a day at private hospitals versus one at a government run va center. that's the issue. no incentive at va or government run facilities tharchlts' a microchasm of the problems. >> government unions and

america's cas cash payers. do you get frustrated watching this debate? >> i think that people that believe a social lis tick approach to the united states, they believe in their heart that it's right, it's mind blowing that they are that -- i'll use the word ignorant to the possibilities of what it could do. liz: it was really interesting, rand institute came out with a study and looked at 25 states, 4 million people in terms of private sector insurance when they go into the hospital versus medicare. they found that yes, the people are in this health system who have insurance, private insurance pay more than their fair share, more than township l what medicare patients pay. a surprising finding. >> i've always put insurance as a top prayerty an priority and w to attract people per family per

week in my company, it's $76 a week. liz: for what? >> for insurance. and $35 a week for a single person. i've always kept it low because people want that and that's how i attract really good people. >> liz: bernie's plan would cost $32 trillion. here's bernie never answering questions. this is what the american people have to nays as bernie sanders refuse to answer questions. >> how can you challenge the idea that socialism is bad. >> might ask them, not me. >> your marginal tax rate was 26% because of president trump's tax cuts. why not say i'm leading the revolution, i'm not going to take those. >> i am -- i paid the taxes that i owe. and by the way, why don't you get donald trump up here and ask him how much he pays in taxes. >> would you be willing to pay 52% on the money you made in you

can volunteer. >> you can volunteer too. >> you suggested that everybody in your bracket would do. >> and martha, why don't you give. you make more money than i do. liz: never answers questions. it's frustrating, right? >> completely frustrating. liz: when you come back we're going to stay on this story throughout the week and we want to have you on again. thank you so much. be sure to catch the social capitalism versus socialism a town hall at 2 p.m. eastern time right here on the fox business network. the battle for president trump's tax returns turning out into a all out political war. a judge could rule tomorrow about whether thawld could happen, the release of his tax returns. that story coming up. ments. key portfolio events.

liz: welcome back. you eefer watching the fox business network. a federal judge in washington, d.c. is expected to decide potentially tomorrow on whether

or not president trump has to comply with the house democrats and the oversight committee and release his tax returns. his financial records on top of that. house ways and means chair richard neil issued subpoenas last friday to steve mnuchin and charles reddick to deliver trump's returns. what do you think the judge is going to rule? what does this mean for the president? >> it's a little bit tricky. let's back up and break it down. the irs code section 6103 says that three committees in congress. but in this case it's house ways and means can ask for and obtain the tax return of me u.s. citizen. however, there's two pircht things that you have to add in. a, it has to be delivered in closed chamber which people have omitted in this discussion a little bit and that raises the key question, does it remain in

closed session. but ten times more pointerly, the 800-pound gor gorilla in the room is this legitimate congressional oversight or more of a political issue. the point is legitimate congressional oversight has to do with legislation, a legislative matter. the immediate argument against it is what are you talking about? how can it be a legislative matter. when they made the question, house ways and means, he said this is to conduct oversight -- liz: all right. it's a supreme court decision in the '50s. >> watkins. liz: when i covered the irs that was a big deal. it can't be a fishing expedition. we got to move to this. you got to, by law, does the white house have to answer the subpoena? >> it's an open question. the judge will rule abdz as to whether they have to comply or

not. and then even though you've ruled against it, can you stay and hold in abeyance to give us a chance to appeal. it's going to be an interesting ruling. it's more about the subpoenas to banks than the returnses themselves. liz: house intel chair adam schiff says trump's trumps are going to come out before the year is over. watch adam schiff here. >> do you believe congress will all thultimately get the presids tax returns? >> yes. >> why? >> because the legislation is abun tantlabundantly clear. it says the president shall, not may, not might. >> do you think this will take weeks, months or years? >> i think it will take months to prosecute through the courts. i think the courts are going to be aware and mindful of the disruption of the democratic process. >> so sounds like you get

congress will get to the president's tax return this year. >> oh yeah. liz: what adam schiff is leaving out is the supreme court decision saying it can't do a fishing expedition. it has to be for legislative reasons. watch this democratic congresswoman saying you've got to get trump's tax returns to make sure he's paying his quote unquote share. watch this. >> i can't believe we're going to this level. for four decades presidents have voluntarily submitted their tax return to the american public that they know the american public expect to see whether their president is paying their fair share of taxes. liz: nothing to do with the law. >> thank you. in the political discussions, it's mixing apples and oranges. every president has done it. that's irrelevant to any legal discussion about to whether whether or not the law requires it. adam schiff, it has to be in a closed session and he leaves out the watkins case and the concept

that any attempt to get a president's tax return has to be for legitimate legislative prurp. purpose. we may pass a law requiring future candidates to disseminate their returns. liz: 6103 says the president can get tax returns too. we could ask every member of congress turn them over. coming up, several high profile democrats pushing hard for robert mule tore testify but will they like what mr. mueller has to say? several other high profile demeanors are throwing around the word jail when they're talking about attorney general william barr. we're going to debate that as well, coming up. fact is, every insurance company hopes you drive safely.

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house democrat judiciary chair jerry nadler said that robert mueller will not testify before congress this week. but the question remains when will he testify and will the democrats get what they want out of hobbit mueller. kat ridge her ridgkatherine hern

washington with more. >> if he could point to discrepancies between his version of events and attorney barr's recent testimony about how the russian report was handled. two chairman are questioning whether a senior state department official warned the fbi about the anti-trump dossier's author christopher steele and his political motivation. timing matters here because it appears the warning came in mid october 2016, that's two weeks before the surveillance warrant application for a trump campaign aide. according to a state department official, the handwritten note to show the opposition research firm fusion gps paid by the democrats was deeply involved. according to the notes, steele and possibly others were quote keen to see this investigation come to light before the election. now senator graham wants the records declassified including a heavily redacted 2016 e-mail the

senator believes it was sent to the fbi. >> so the fbi is now noticed on october 11th that their confidential informant is trying to get the dossier out for political purposance the state department figured out the democrats paid for it. how could they get a warrant based on the same document and not tell the court what the state department told them. >> the reported have gone to the justice department's inspector general who is doing their own investigation. his office is not commenting on the status of the report but the new records and allegations could delay the report. liz: thank you. for reaction let's get to former justice department official tom dudupree. what was your reaction to what katherine was just reporting. >> the story gets curiouser and curiouser.

it seems that this dossier has made it way through various channels in washington and at some point along the way i seems as though people left off a critical point, namely the origin of the dossier, why people are looking to push it out into the public realm. liz: demeanors are in overdrive right now. accusations tantamount not just to a conviction but prison when it comes to foarnl william barr. attorney general william barr. let's watch this. >> it's our responsibility as a coweek wall branch of government to hold them accountable. i don't want to throi him in jail but i'm ready toe do so. >> i think you have to have him locked up unless he agrees to participate and come to the hearing. >> we do have a little jail down in the basement of the capitol. but if we were arresting all of the people in the administration, we would have overcrowded jail situation. and i'm not for that. liz: your reaction, sir. >> well, i mean it goes way over

the line. it's one thing to say i disagree with the attorney general or other administration officials on political ground. disagreement is healthy, it can be constructive. but when you say we disagree with them, we're going to put them in jail, the attorney general in jail, other administrators in jail, it's contributing to the overall breakdown between congress and the administration. liz: democrats talk of constitutional crises. they're not legislating. just 16 laws enacted year to date more than 440 in the last congress. now nancy pelosi, al green and adam schiff have all been talking words to effect that the country can't survive another four years with this president. al green said i'm concerned if we do not impeach this president he will get reelected. jerry nadler, we cannot wait four years to vote mr. trump out of office. we must keep our eye on two goals, defining the congress from him and the gopped againstt

each other. lisa page asked peter strzok -- trump, he's not going to be president and peter strzok replied, no he won't. we'll stop him. in august of 2016 before the comey leaking. yowryour reaction to what the democrats are say. >> it's not helpful. when you have people threatening to imprison the opponents and you have impeachmenpeachment ant gagses overwhelming, there's little chance of legislation being passed. that's what if congress is there to do. when you see the rhetoric being amped up, large oien the democratic side but own both sides to some extent, it's not helpful. liz: trying to overturn the prior election, sir, that's what

the critics are saying. >> well, i think there's a lot to that. i think there are a lot of people unhappy with the prior election and they want to overturn it. liz: thank you so much. coming up, the border crisis getting worse. you're not going believe what the numbers are showing. truly staggering. we're going to break it down next. smart bed is on sale now during our memorial day sale.

liz: well the border crisis

escalating. border patrol numbers coming in. the level of border apprehensions now at 504,300. homeland security forecasting that total of apprehensions will surpass the totals of each of the last 13 years. that could happen just 122 days from now. that's not even the most alarming thing happening now. overwhelmed detention centers. at least six mass escapes in six weeks with people being detained there. let's bring in heritage senior writer. the detention centers are breaking out. >> the numbers are truly astonishing. they should be alarming to bethh republicans and democrats. and the mass breakouts should be extremely concerning. if you watch videos you can see the migrants actually throwing chairs at agents who are supposed to be there helping them and it really shows you,

despite democrats trying to paint ou all of the migrants ouo be good people, there are a fair number of bad hombres mixed in here. in 2018 that 17,000 migrants were detained with criminal records, many of them with tie to ms13313. and these breakouts are a reminder of why we need a vetting system that work to know who is coming into our country. liz: people at the border keep saying fraud is hang with the migrants coming in. they're working the loopholes, coming in as fake families, in some intans renting children to try to cross the border. at what point will the democrats say yes, this is, not just a humanitarian crisis but a crisis in terms of national security? >> right. we need to keep reminding them that it is a humanitarian crisis. children are being recycled to get the family units in. and president trump is doing all he can.

some would argue too much in order to create a system that works. but really this is up to congress. president trump has asked congress for 5.7 billion in funding to help the situation. democrats refused to come to the table and negotiate with republicans and we really need to keep highlights the numbers and also the stories, the personal stories that e wither ooh hearing across the border to show that this is a real crisis for both americans and migrants who are trying to come in here. this is only making it more difficult for them. liz: yowz ear sayinyou're sayinr for those doing it the right word. >> i've talked to many legal immigrants and they're the first to say it's not fair, not working and it's not fair once they get into the country either. liz: thank you for come in and on the show. thank you, too, for having us in

your home. "lou dobbs" is next right heir on the fox business network. have a good evening. ♪ lou: good evening, everybody. since taking office president trump has fought the end the years of chinese theft, trade imbalances and deficits that are hurt the american economy and worker. the president has tried no good faith to work out a trade deal with china places tariffs on chinese goods when the chinese slow-walk those negotiations. yet today despite the president's warning against retaliatory tariffs, china announced it would raise tariffs on u.s. goods. president trump saying he's not concerned with china's retaliation. >> we're in a very strong position, our economy has been very