for that much more. there's something we're not seeing. regardless, it is insane. connell: we had a lot of crazy stories today. the dow down 101 points. thanks for joining us today and every day. melissa: that does it for us. bulls & bears starts right now. i walked into the room and i told senator schumer, speaker pelosi, i want to do infrastructure. i want to do it more than you want to do it. but you know what? you can't do it under these circumstances. so get these phony investigations over with. >> investigates or legislates, that's the ultimatum president trump is giving to democrats after he blasted house speaker pelosi for accusing him of engaging in a cover-up over congressional probes. that's just moments before a scheduled meeting with them on infrastructure. this is bulls & bears. i'm susan lee.

take a look at the panel. let's go straight to john roberts first though at the white house with more on today's big blow up. john? >> you know, it's three times now that meetings between the president and nancy pelosi and chuck schumer, susan, have not gone well. there was that oval office meeting where it was televised, talking about a government shutdown. there was the january 9th meeting in the situation room where the president said to nancy pelosi are you ever going to give me money for a border wall? she said no. he said we've got nothing left to talk about. he walked out. then today as the president was watching television this morning and sees nancy pelosi walking out of the caucus meeting with democrats and say that he is engaged in a cover-up. the president could have just called up to capitol hill and said you know what, this meeting on infrastructure is off. but the president wanted to make a point here, so what he did was he let nancy pelosi, steny hoyer, chuck schumer and others come up to the white house, get themselves settled in the cabinet room and then the

president walked in between the oval office to the outer office and into the cabinet room through the door that connects them all and laid into the democrats. here's what he told them. >> i said let's have the meeting on infrastructure. we'll get that done easily. that's one of the easy ones. and instead of walking in happily into a meeting, i walk into look at people that have just said that i was doing a cover-up. i don't do cover-ups >> the president told the gathered group there that unless you let these investigations go, we're not going to be able to do business together. he was really ticked off over what nancy pelosi said. the last time a meeting blew up, and that was back on january the 9th, nancy pelosi and chuck schumer came out to the front of the west wing, what we call the stakeout location to comment on it. this time they waited till they got back to capitol hill. here's what senator schumer said. >> to watch what happened in the white house would make your jaw drop. we were interested. we are interested in doing

infrastructure. it's clear the president isn't. he is looking for every excuse, whether it was let's do trade first or whether it was he's not going to pay for any funding, or whether today that there are investigations going on. >> it is true that at this meeting the three parties were going to try to figure out how to pay for 2 trillion dollars in infrastructure that they agreed to the last time they met, which was the one meeting out of the last four that seemed to go pretty well. and it is true, that the president did say recently let's pass -- ratify the usmca before we go down the road of infrastructure, but that was seen by a lot of people as being kind of a hurry up move. today, though, the president highlighted the differences in what he saw as the differences between what the white house is trying to do and which democrats are doing. listen here. >> i've said from the beginning, right from the beginning, that

you probably can't go down two tracks. you can go down the investigation track, and you can go down the investment track or the track of let's get things done for the american people. >> this has now left a big question, susan, over what will happen to many pressing issues that lie ahead. the white house and congress have to work together on ratification of the usmca, the budget and spending caps as well as a debt ceiling. i'm told by some white house sources that there's a lot of that can get done without a whole lot of interaction between the white house and congress. we have one thing pretty clear here, that between merit based immigration which the president unveiled last week and what happened today, we've got pretty much the sort of clear markings of what the 2020 campaign is going to be fought on. we'll see. susan? >> john, thank you very much. now as you heard the president vowing not to work with the democrats on getting a deal on infrastructure, lowering drug prices, the budget, or even

other key pieces of his agenda until democrats' probes are ended. is he right to put his foot down? >> well, what you are going to see happen is the probes are going to go forward because the democratic base demands it. if they didn't do these probes, a lot of these people in congress on the democrat side would be facing very nasty primaries, and they want to avoid that. so if the president insists on no probes, nothing is going to get done. and markets may not take that too badly, when washington does things, like on infrastructure, yeah, we need infrastructure, but they are also talking about tax increases, which would not be good. >> you know, john roberts referred to the last two times that there were meetings in the white house that the president walked out of or ended abruptly, in terms of pure polling, when the government shut down, that did not end particularly well for the white house. it is hard to see how this one other than playing to a base that is still going to support

this, will like the image of the president standing tough, against illegitimate and unfair hearings and investigations, it is usually better to have your adversary be seen as responsible for a logjam and not you. there was that meeting, you know, where trump said fine, if the government shuts down, i will take responsibility for it. that did not poll or play particularly well in public. i don't think this is going to play particularly well in that arena either. liz: what are you supposed to do, though? here's my question, zach. you don't set off a stink bomb 20 minutes before you walk into your in-law's house for dinner and then pretend nothing happened. >> give it ten minutes. liz: exactly, on the one hand yes, a u.s. president should be ready to just absorb everything and just have it bounce off like teflon. we know that trump does not have that within him. he doesn't want to do that. so it almost seemed like it was a deliberate poke in the eye, and i'm just not sure how

helpful any of that becomes. >> you're certainly right, that it was, and he took the bait. the fact is, he could have walked into that meeting and said we've got this great plan. he could have taken all the credit for it. you know, i'm going to rebuild america. it is going to be beautiful. it is going to be wonderful. 2 trillion dollars invests and going to create jobs. that would have been much harder for the democrats to play against even if they tried to nudge him and poke him in the eye. >> i think, zach, that's a key point, i think the take away on the tone today, guys, is really negative. it is the tip of the iceberg. infrastructure is like a euphemism, it's just a tip of the iceberg versus usmca, immigration, all these other things that are being held up because of the fact that chuck and nancy and donald let's stay on the first name basis here are still so far apart on so many things. and what they want to do is drag all these things out into 2020, so that in an election year, things get even more heated. they get more tense.

and maybe risk the election or the reelection of donald trump if things don't get done. >> this is where donald trump has an advantage being just one person rather than a body in congress or a caucus, and that is he can go to these bridges and say see how this is falling apart? they don't want to do anything about it. to take the issue out there and focus on the economy, focus on they are not doing anything about the trade agreement. go to the farmers and say we're trying to get this resolved, they are standing in the way. go on offense. too often the republicans receive blows. they don't carry the blows. >> to liz's point, though, he's got to deflect that blame. >> the way -- you don't accept the blame. what you do is you go out and set the agenda. use the bully pulpit. go out and say this is the issue. >> and by saying i'm not going to do this until they stop, you lose the ability to go to that bridge. if he had said bring it on, i'm

going to sign a massive bill, we're not going to raise taxes and then you can go out to the bridge and say the democrats don't want do that, they don't want it to do in a free market way. whatever the line would have been, he could have done that. by him walking out and saying you stop or i do nothing is not -- liz: a budget deal that's supposedly coming, a budget deal that would raise the debt ceiling. the american people do want some action. this inability to come together, it becomes a massive problem. like steve forbes just said, the markets may not like it. they often do like when nothing can get done, obviously, but i'm just not sure this time. >> it often kills the hopes of any big ticket legislation for the next 18 months. this is basically tabling it for 2020. here's what the democrats stand. here's where president trump stands. it's just politics that's getting in the way of something that by the way we all agree on

which is we need better roads, better tolls, better airports and let's get something done about clean drinking water but politics seems to get in the way of something that every american wants >> all of it ready made for the president to make political points on going to the water and say i want to clean it up. they're blocking it. you can point out the probes are fake. they are finding any reason to investigate him. he's probably almost hoping that go for impeachment. that would secure his reelection. >> we did address some of the bridges and infrastructure back in 09, and we did address throw billions of dollars at water improvement systems and here we are back in 2019, still needing to fix all that stuff. >> yeah, okay, here we have more happening in washington as well. so not just the politics, and chuck and nancy and president trump, but treasury secretary

mnuchin being grilled on capitol hill. what he is saying about the trade deal with china and the tariff tit-for-tat that moved markets today. plus on the impact it could have on the economy and your wallets. openturning 50 opens theuard. door to a lot of new things... like now your doctor may be talking to you about screening for colon cancer. luckily there's me, cologuard. the noninvasive test you use at home. it all starts when your doctor orders me. then it's as easy as get, go, gone.

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date for the two presidents meet and a signing ceremony. i think it would have been the most -- the biggest change in their economic relationship that we've ever had. unfortunately, china has taken a big step backwards. now sometimes you got to go backwards before you go towards. i'm still hopeful we can get back to the table. the two presidents will most likely see each other at the end of the june. >> we went from ferrari speed to something barely making it to the finish line, not even. mnuchin responding to questions from the house financial services committee about the status of the trade deal with china. hillary vaughan has following this minute by minute. mnuchin also got tough questions about who is really suffering from the tariffs? >> exactly, liz, that's right. mnuchin told committee today that he has some say if these tariffs and the costs associated

with these tariffs would trickle down to consumers because he says he is working on an exemption package. he is looking at items that would particularly hurt families on fixed incomes, if they were to go through with this fourth round of tariffs against china, but not everybody was convinced. iowa congresswoman adams -- i'm sorry, cindy axne questioning mnuchin's confidence that these costs wouldn't be passed down to consumers. >> can you tell me what costs these tariffs will put on these american families? >> i don't expect there will be significant costs on the american families, and that's something that we are absolutely focused on. >> have you done research on this? >> i have. as i said, i just spoken to all the major companies that provide consumer goods. >> so if you have done research on this, how come we haven't seen this research? i haven't seen it. i don't think my colleagues have seen it. why hasn't that been passed on to us to ensure that the constituents in our district aren't paying the costs for this >> let me just comment, the last

tranche is under investigation. >> mnuchin said he speaks with wal-mart cfo regularly as well as hundreds of other companies around the u.s. to get a sense of what items they can get from other countries and what items they have to import from china. those products would be candidates on this exemption package. mnuchin also confirming that the president and he are making progress on a bailout package for farmers. i asked secretary mnuchin why are they bailing out farmers and not other industries hit by the latest round of tariffs. >> we're going to have a 301 process and look at exceptions that impact certain consumers, people talked about diapers and other things, if they can't be sourced otherwise, we're going to be very careful on this, but the farmers are being personally retaliated for political reasons. >> mnuchin saying today the fourth round of tariffs should be ready to go in 30 to 45 days, but he does assure lawmakers that this exemption package will a b a part of it -- will be a part of it.

liz? liz: hillary, thank you very much. steven moore is joining us for the heritage foundation. steve, the treasury secretary says the pain from tariffs that won't significantly hurt consumers or cause major cost increases to american families. is he right? >> no, not exactly, but it is true, liz, that some of the costs of these tariffs will be born by either the chinese government in terms of having to subsidize their industries or just diminished profits of the chinese companies and some of it will be borne by american consumers. i have heard economists say the entire cost of this will be borne by the american consumers. that simply isn't true. the chinese will take a big whack here. that's why donald trump is imposing these tariffs. i hate tariffs and trade wars as steve forbes does, but in this case you could hear the frustration in that testimony of my friend steve mnuchin. they really did feel like they had a deal with the chinese, with the government in beijing,

and then something happened a couple weeks ago where the chinese just started backtracking from that, and that is why, you know, donald trump is frustrated and has imposed these latest round of tariffs. there's no question, liz, it will pinch consumers, and the -- american consumers, and the question is whether americans are up for that. i happen to think this is the epic battle of our time between china and their abusive trade practices in the united states. i don't think we can continue to go on with impunity with respect to the chinese abuses. >> steve, it's scott martin. you know, that's a tough call that i have here in looking at this. it's like to your point, why would the administration risk political capital here and being out of touch when it comes to say the impact on the consumers? the impact grows with every day we don't get a deal done as far as the risk to the consumer. you look around. i talk to folks too, like mr. mnuchin just said, and you look at any kind of building materials, anything prefab, even

stuff down to hot tubs are going up in cost. >> hot tubs? [laughter] >> it is only rich people like you that have to worry about hot tubs. [laughter] >> that might get you in hot water. [laughter] >> so look, my view is yes, there is going to be pain to american consumers and companies. the pain will be threefold in china. trump is using leverage here. china needs to trade with the united states more than we need to trade with them. obviously we both benefit from the trade situation. but look, i mean, this is a good time for the united states to stand up to beijing and say there's a new sheriff in town. we're not going to take these abuses. there is nothing. i mean i would love any of you, any of the four, five of you to tell me what donald trump is asking of the chinese that's unreasonable. every demand that he has is very reasonable. china should do these things, and they simply refuse. susan: well, it takes a long time to turn the titanic, steve.

i want to ask you whether -- >> hold on, is there anything unreasonable in what he's asking? susan: he's been asking for a while. i will give you that. no, there's nothing unreasonable, but in terms of speed, it might be unreasonable in getting the whole bureau of a ten member standing committee that -- they have a conservative bend as well, asking them to agree to basically give up china sovereignty. i think that might be a little unreasonable in their view, yes. >> here's the thing, somebody was asking earlier -- susan: let me ask you, steve. what if china came in here and said why don't you do this for us? how do you think the president should react? >> they are the ones stealing intellectual property. they are the ones who impose tariffs on us. they are the ones who closed their markets on us. look, we have opened up our markets for 25 years to the chinese. we have helped their economy grow. now they are the second largest

economy in the world. they think in the next five or six years, they will be the largest economy in the world. why shouldn't we have a level playing field? i mean -- >> steve, if you think we've got the white hats and they have the black hats, i don't see why we should negotiate. there should be tariffs of 100%. then we should treat them as the enemy. own the -- on the other side saying they should come to the bargaining table, it's a complete contradiction on your part >> no, i want a world in which both countries lowers our tariffs. donald trump has basically said to the europeans and china let's go to zero tariffs. that terrifies these other countries. no, i would love to see, you know, a more level playing field. i think it is -- the american farmers, american manufacturers should be able to sell more of our products over there. >> steve, as would we all. but simply saying it may be reasonable to ask these things

that doesn't make the policies that follows from a reasonable ask -- >> let me address this. donald trump in the first moment he came down that escalator four years ago announced he was running for president said he was going to get tough with china and that he would impose tariffs on them if they didn't behave. he won the election on that issue. he's doing what he said he would do. ultimately i think he's going to win. >> steve, there's no question about what the problem is, trade abuses and the like, why we can't go to the wto earlier, why we didn't work with our european allies whose companies suffer the same thing our companies do and go after specific individuals as we did with huawei or specific industries, specific banks. you throw one of their banks out of the swiss system, they go down, the international payment system, without resorting to tariffs. it is not the diagnosis. it's the prescription that we have to worry about. what happens -- china may be hurting more than us, but what if they wait us out a year?

what's going to happen with that? liz: let me jump in before we go, it is the way that steve mnuchin couched it. perhaps if he just gave some lip service and said we know it hurts but you have to take one for the team right now. he said no, it is going to be fine. wilbur ross holding up a can of soup saying oh, you know -- >> i think you make a good point. if i were trying to sell this to the american people, i would say look, this is going to hurt. no question about it. we are in an epic battle with the chinese. this is a good time to be confronting them when we have a strong economy. their economy has faltered. at the end of the day, i believe we're going get a deal with china. it is not going to be a great deal, but it will be better than the situation we have right now, and it will be good for american farmers and manufacturers, and yes, obviously steve forbes is right, you know, when we go to wal-mart and get all this cheap stuff from china, that's a good thing for us. i'm not arguing against that. i think we can get a better deal >> what about the hot tub,

steve? [laughter] liz: thank you very much. >> i want to use your hot tub. [laughter] liz: we will see you next time. you guys can settle that after the show. we'll speak with farmers, go directly to the source about this coming up. meanwhile, new irs data revealing quite a bit about how taxpayers feel when it comes to cheating on income taxes. we've got surprising details you can't miss, next.

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susan: while a majority of americans still feel there should be no cheating on your taxes, a newly-leased survey by the irs shows that numbers are slipping. 85% of people now say no amount of cheating was permissible which is down from the 88% from the previous year. guys, what do we make of this 3% difference? >> it's di minimus.

i'm surprised it isn't more. [laughter] >> i agree, steve. i think the word cheat is a tough word to use here. i would use other euphemisms like maybe hey maximizing, taking the most advantage of, putting in a good return. respect to the laws that you have, when it comes to how you're structuring a business whether it's c corp., s corp., llc. the americans get it. they look at the trillions of debt that we have. they see the waste, fraud an -- and abuse in government programs all alongside with record revenues coming into the treasury department which seem to go out to the door to special interest groups and roads to nowhere. liz: that's kind of an issue too when you think about what's within the law. oh, i had a conversation that revolved around work on the beach in fiji so i get to write off the whole trip? you have to distinguish between what is true cheating and what is within the parameters of legality. but i think what this survey means is are you not declaring what you should?

are you actually cheating? and if that's the truth, that becomes a problem for those who actually pay their taxes in full. >> well, the problem is the code is so complicated and corrupt, you could not go along with the code even if you tried to because nobody knows what's it in. the irs doesn't know what it's in it. 10 million words and rising with the rules and regulations which is an argument for the flat tax. throw the whole thing out. >> here we go. someone should really propose that, steve. [laughter] >> yeah, with that idea. >> what's one thing if you were to take the long picture view, it's rather incredible relative to so many countries in the world and even to american history; right? the income tax is only a product of the second decade of the 20th century. the fact that americans believe they should pay tax even if they should cheat on them is actually historical terms rather extraordinary. most people don't feel they

should pay taxes. at least they feel they should pay them. >> personal income taxes in the u.s. is probably the lowest. you go to the u.k. where you pay 55% in income taxes. that's probably where you will look to cheat. i know steve forbes wrote an interesting column recently on foxbusiness.com and you said government waste when it comes to spending has cost the u.s. economy 2 trillion dollars. when you look at that, you always wonder where are my tax dollars really going at the end of the day? i'm not surprised that americans want to pay less to the government. at the end of the day, are they the best in terms of spending it efficiently? >> countries with the higher tax rates, the eu, their growth rates are half to third of those of the united states. taxes are a burden. they keep going up and up. that's why people come here. they don't cheat. they just move over here. by the way, over 30 countries around the world have the flat tax. so this isn't theory anymore. liz: what is the solution? i guess, you know, we have got a lot of smart people sitting here. how do you get people to fully

get on board beyond saying do you want potholes in your roads because if you don't, pay your taxes. you know, it isn't the best way and the most efficient way that they spend our money, but it's certainly the greatest country in the world. >> i think public private partnerships though too, that's one thing the government has always kind of dangled out there that never get followed through on. i don't blame the private sector for maybe not wanting to go in on with the government. the other reality is getting some sort of private enterprise involvement would be helpful i think to fixing a lot of the problems more efficiently. >> i still like the flat tax idea, guys. we have members of the democratic party looking to move full steam ahead in pursuing the impeachment of president trump right now, causing more gridlock in washington, d.c. could it backfire on democrats heading into the 2020 election? we'll be asking democratic congressman from california. that comes your way next. my insurance rates are probably gonna double.

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liz: we are just getting this breaking news, two u.s. officials are just telling reuters that the pentagon is now considering a request to send 5,000 additional u.s. troops to the middle east amid rising tensions with iran. we will continue to monitor this and any other headlines that get us more details. we promise we will get them to you. now this. >> it was a very positive meeting, a respectful hearing of ideas and i think very impressive presentation by our chairs. we do believe that it's important for -- to follow the facts. we believe that no one is above the law, including the president of the united states. and we believe that the president of the united states is engaged in a cover-up. liz: speaker pelosi with some blunt and tough talk for president trump after a meeting of house democrats, specifically

focused on impeachment. those comments later caused the president to walk out of an infrastructure meeting with the speaker and senate minority leader schumer just minutes after it began. the president vowing not to work with democrats until their investigations into him end. democratic congressman is joining us now. he sits on the house budget committee. and sir, there are a lot of big-ticket items like the budget, for example, that need bipartisan support. i'm thinking healthcare as well. are you concerned that after those comments today, that nothing might get done this year and that these continued probes might backfire on the democrats because the president remains intransigent about moving forward until they are gone? >> i'm very concerned for the country. our competition is china. we are at gridlock. we need an infrastructure bill to expand broad band to everyone, invest in science and technology and it is disappointing that we can't get that done. even during the nixon impeachment, the congress passed the highway fund.

they passed the endangered species act. there's no reason we can't have investigations and cooperate on issues for the country at the same time. susan: congressman, do you agree with the house speaker who says that president trump has engaged in a cover-up? do you think he needs to be impeached? >> i'm not there yet in terms of the impeachment inquiry. i do think we need an aggressive investigation. the bob mueller report raised serious allegations of misconduct. we need to hear from bob mueller, and we need to hear from mr. mcgahn and we need the committees to do their work. at the same time, we need to be focused on legislation, on infrastructure, prescription drugs, and issues that matter to the american people. >> congressman, steve forbes here. in terms of impeachment, it seems that the base of your party is continuing to push that. speaker pelosi knows that's a non-winner. you give a real victory to president trump when you do that. are you going to be able to resist those pressures? on the mueller report, he found no crime.

so the president proclaims his innocence, and i think the american people think these probes are just witch hunts to harass the president >> well, steve, let me answer both questions. i do think the caucus is going to be unified behind speaker pelosi. we had a meeting this morning. the vast majority support her approach which is the committees need to investigate, do their oversight. the country needs to hear from mr. mueller, mr. mcgahn, but there shouldn't be a rush in terms of any further action. i do think most of the country believes that the mueller report was very serious. there was sweeping and systematic interference by the russians in our election. put aside president trump or whether he was engaged because i agree there was no evidence of coordination -- or conclusion of coordination, but we should still be taking action on preventing further interference. there were very serious ten counts of allegations of potential obstruction of justice. we have a duty, obligation to

investigate that. >> has anyone in your caucus looked at those redacted parts of the report yet? >> not to my knowledge. and that's because they believe that those redacted parts should be available to the entire committee, to be able to do our job. i really believe -- >> why don't they look at them first and then come to that conclusion? >> because they believe if they look at that, then that would give an argument for denying it to the broader committees, and they think constitutionally they are entitled to this, and they want the justice department to go to court like ken starr did and -- >> on releasing grand jury testimony? that's against the law. should that be breached? >> well, steve, i don't think they should be releasing things that are sensitive to national security or sensitive to individuals, but the justice department could go to court as past special prosecutors have done and argue for the release of as much of the report as makes sense. i think that will actually help

move us forward. i believe the administration giving -- being a little bit more cooperative would help the speaker do what she wants to do, which is focus on the legislative agenda. every time we aren't getting documents, it's actual -- actually increasing the pressure on the speaker. my view is the president should be more cooperative with speaker pelosi. liz: scott? >> shouldn't they allow, though, the speaker and anybody on both sides, i guess, allow the investigation investigators to do their work, and get the report to come out and be reviewed? that's what i think the were is here. then it ends up being chuck and nancy on a first name basis against donald. don't you guys risk at least political power from the standpoint of americans are getting tired of this bickering, and therefore if it's this constant battle of the mueller report which needs to be taken care of and reviewed yes, but to impede legislation seems very it y to me because so much

wasn't the democrats that were impeding legislation. speaker pelosi, senator schumer went to the president. the president had said we want a 2 trillion dollars infrastructure bill. we said we're going to work on that. let's work on the details. and they by all accounts, the president cut short the meeting and said no, i don't want to work on this while there are ongoing investigations. it is perfect -- >> -- [inaudible] -- on the floor yet? >> it is perfectly reasonable in my view that we can work on this while there's ongoing investigations. i don't see why the president can't engage on infrastructure or on prescription drugs or on any of the other prioritieprior. >> has there ever been a time when more than four or five people in congress have seen a report that it doesn't get leaked to the press? >> probably not, but this is a very serious issue that you could go to jail for leaking something to the press of this magnitude. >> never happened. it will be in the new york

times. >> congressman -- >> there are no secrets in american democracy. there's something to your point, steve. but i really think just getting the information out there, letting mueller testify, and then letting the american people make a decision is the best way to go, and i think transparency is actually in the president's interests. >> how do you make sure that kind of the silent majority of the democratic party, dozens of freshman representatives in swing districts throughout the midwest who really want to focus on healthcare and farming and infrastructure and education, how do those voices become more a part of this dialogue and not a constant discussion about mueller, about investigations, etc.? >> i appreciate your pointing that out because many of those candidates did run on healthcare, infrastructure, making sure america wins the technology race against china, that delivering for this country, and they are being heard. they may not be on all the networks and prime-time, but let me tell you, their voices were heard this morning. a lot of them are saying that we need to continue to keep the

focus on doing the work. they're working in a bipartisan way to do things for the american people. so i agree with you, that their voice matters, and nancy pelosi, the speaker is listening to them as well as the other parts of the caucus. liz: congressman of california, thank you for coming on bulls & bears. >> thank you very much for having me on. liz: any time. you know, zach just brought up the midwest and farmers. farmers telling fox business they are indeed feeling the pinch of president trump's tariffs on china. but just how bad is that pinch? our jeff flock is talking to farmer first-hand. he's going to join us and you next. ♪ (vo) i know what you're thinking. electric, it's not for you. and, you're probably right. electric just doesn't have enough range. it will never survive the winter. charging stations? good luck finding one of those. so, maybe an electric car isn't for you after all.

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susan: president trump is meeting with farmers tomorrow at the white house. sourcing telling fox business that the president will unveil another relief package to help farmers being caught up in the middle of a trade war with china. will it go far enough, though? jeff flock is in illinois talking to farmers first-hand. and jeff, what are they saying to you? >> we have been talking all day about farmer sentiment. a lot of people losing confidence in the president's ability to get this deal done, and, you know, some people have said, you know, the farmers are criticizing the president. you know -- of course that happens on twitter. you know how polite people can

be on twitter. the reality is the president himself has said yeah, the farmers are taking a hit here. take a look at -- i'm on soybean bins here. this is full of soybeans, some of which have not been sold yet because the prices are so low. take a look at the price, three month chart we went from 9.60 to when the tariffs kicked in and everything went to heck now we're down to 8.30. that's a huge hit to farmers who farm soybeans. you are not especially critical of the president. you are just pointing out reality. >> that's correct. farming is a business. we have to make money to survive just like any other business. right now what we're receiving our crops is below the cost of production for the break even price. we are hopeful that these tariffs are going to be resci rescinded or resolved or some kind of compromise so we can start receiving a fair price. >> that's a big part of your market. a lot of them go overseas. you know, we did a survey, not a scientific poll, but a survey that the folks at the illinois

farm bureau helped us with. here's one of the comments from a farmer. some obviously don't like the president. some do. one guy said as a farmer, i'm tired of paying for trump's lessons on global trade. we surveyed these folks, 32% said they are losing confidence in the president's ability to get it done. 30% said they are confident. and 28% said they are not confident at all. and 60% said actually what's happening now is going to have an impact on their opinion about the trump administration. but then i come back to another comment from another farmer who said hold their feet to the fire, meaning china. if we give up after taking this hit, i will be upset. you have taken a hit here. and the president's acknowledged that. that's why there's going to be an announcement tomorrow of some aid to farmers. what's your opinion? do you want him to hang in there tough? or is it time to, you know, cut bait? >> well, we just really would like for a solution to happen

quickly, sooner than later. all of our farming operations will be better off the sooner this happens. the longer it goes on, the more we will be frustrated and the more likely there is going to be collateral damage, whether it been farmers who can't farm their multigenerational family farms anymore. >> yeah, people going out of business. tomorrow we will hear from the president. we will see what kind of aid they are going to come up for the farmers. they need help. they are going to try to give them some. susan: jeff, thank you very much. good to see you. >> you too. susan: another college admissions scandal, this time involving special treatment on the sat. but are wealthy students gaming the system? we will find out. shall we take a commercial break first of all? yeah, let's do that. ♪ all money managers might seem the same, 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. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions

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liz: the number of students now eligible for special treatment like extra time to take the sats is reportedly surging now, particularly among wealthy students. the "wall street journal" finding affluent public high schools are far more likely to grant extra time on college admissions tests. in fact, here's a look at some of the numbers of students eligible. at some of the affluent schools the journal was highlighting, 1 in 5 in new york. 1 in 4 in connecticut. 1 in 3 at massachusetts. are wealthy students or their parents gaming the system? scott? >> yeah, liz, you know, as somebody who has a young kid, 5 and 8, but are kind of worried

about tests like this coming up for them, even though yeah i get it's eight or nine or ten years away, but still the reality is as they have said about this situation, there's this overidentification of learning disabilities or learning challenges with some of these kids. unfortunately, it is kind of like the medical industry. the system is being set up to where the sat is being gamed. it is maybe starting -- being a standardized test maybe it is starting to show its true colors that we need to find a better way to get kids into the college and get them tested. susan: i think it is proving what we have always thought of standa standardized testing which is that it favors the wealthy, those that can have tutors and more time to answer the questions and not the best students that get into these top schools and the best scores. i feel sorry for the students that have to suffer and skip soccer like some people did on saturday mornings to get extra study. >> the other issue is for those who don't get the extra time, liz and i both have teens going

through this, it raises the ceiling of real unfairness. one of the things these tests were supposed to do was everybody was in the same boat and it is such a high percentage are now getting five or six hours instead of four, the ones who don't get that are looking around and going wait a minute, i'm now being penalized for not having tried to game the system. it creates an incentive for other people to try to game the system. >> it goes to show how manic this whole system is. and kids should be told by their elders what college you go to doesn't nearly matter as much as what you get out of it. and that's not even a fraction of what you do after you leave college. that's what counts. let's get over this mania stuff. liz: yeah, and standardized testing cannot measure things like guts and grit and for kids who are able to exhibit that, bravo to them. really important. that will do it for bulls & bears. we would love to hear from you. tweet us, whatever you want, we are right here. thank you so much for joining us

right here on the fox business network. david asman, we will see you soon, he's coming back soon. take care. elizabeth: well, it was a jump the shark moment. a defining moment in washington. that puts the breakdown in d.c. into clear focus for all the world to see. it was supposed to be a bipartisan no-brainer meeting on a 2 trillion dollars infrastructure plan, potentially, but it fell apart after five minutes because nancy pelosi claimed that president trump is involved a cover-up, without offering any proof, no explanation, no information. that happened one hour before that meeting. so the big question for democrats tonight, are you going to win in 2020 on symbolic impeachment because the republican senate will reject impeachment.