bike, that is why i think baby yoda looks like et, i love him how about you. deirdre: how can you not. melissa: okay, "bulls and bears" right now. david: look at this, s&p, nasdaq closing at new record highs, all eyes on white house for high stakes trade meeting is underway. we could have breaking news at any moment, sources tell fox, that a deal with china is imminent. we have all details, a live report from the white house. this is "bulls and bears" thank you for joining us, i am david asman, joining me jonathan hoenig, liz peek. gary kaltbaum and millionaire businessman, 2020 democrat candidate, johnn john delaney, o to break buhrmann first what is the latest.

reporter: according to sources familiar with matter phase 1 trade deal between u.s. and china has been described as imminent and done. a chinese government the source telling fox business that president trump agreed to not impose tariffs that were to be put in place sunday. it is important to stress, we've not heard a announcement or direct confirmation at-this-point from either president trump or the white house. and cone versely as well, federally on thofficially from e government. there was a high level meeting here at white house this afternoon that has since wrapped up. president met with his trade team, president teed up that meeting in the day, by saying there was potentially a deal in sight, tweeting get very close to a big deal with china, this

morning, president before the cameras remained tight lipped. >> we won't talk about china. we're working a deal with china. i wouldn't say up until now they have loved me. reporter: bottom line, we have been told until this deal, phase one deal, between u.s. and china is imminent. essentially done and that beijing has been told that the tariffs will not go into effect sunday, still we await final word from the person who signs off anything any everything inside that building behind me, that being the president. david: we remember well, months ago we said we had a deal, chinese who were here did, they sent it to beijing, they said no deal. reporter: i was this oval office. he had a one-sheeter with bullet

points, have we gotten past that point is the question. david: thank you, blake. >> is president trump on the right track in dealing with china? >> everyone wants a deal. china wants it their economy is in tatters and slowing, we want it, our economy is doing well but could be doing better, there are groups like american farmers who have been hurt. the big breakthrough today, we're long way from a text. is that america agreed to roll back tariffs, not just not implement the december 15 tariffs but roll back those in place. china sounded like they were approaching to agreeing to commit to purchasing agricultural purchases and manufacturing purchases and other things, it hopeful.

david: john. >> we need a deal. i have been around all 99 iowa counties, farmers are hurting, farm bankruptcies are way up. we need a deal. they say, devil or god is in the details, i don't think we actually know what is in this deal. but i think a deal is good. and i'm hoping it is a good deal for u.s. workers and u.s. farmers, i hope it is -- we can use this to go to next phase, to deal with china. compete. david: not everyone is cheering a potential de with china. christian whiten writing an op-ed, joining us now, make your case. >> we don't need this deal, our economy is doing great, q3g

dp was revised upward. if you look at commodity prices, corn, hogs, cattle, everything except for soy doing well, but a spike in early 2010 as height of quantitative easing, get this we have usmca coming to passage probably in february, u.s.-japan deal that takes effect unio jany 1st that will help farmers and ranchers, what have chinese conceded? have they reformed intellectual property no. what is rumors we're cutting back half of the existing tariff, not just canceling those to take effect sunday. what was never a part of october agreement that lead to this, we never said we would cut existing tariffs, this look like less

than glass half full. >> we knew there were not going to be more tariffs, going by precedent, i have been writing about it for a few weeks. mexico tariffs threatening and eu orders threatened in a were pulled back. for me this good news, tariffs are paid by business and consumers, and there is too were uncertainty that is put in business and the economy, you back this out, we stop talking about this and move on and i think that economy has a few more little percentage points of gdp going forward that means better earnings possibly higher stock market. >> christian, i would agree with gary on this, it is a good idea. to your point there is a bigger story with china, the question is if that should be on back of consumers and businesses. good news that even what we have

done so far. has driven enormous numbers of companies out of china, i have heard over 60 companies have left in last several months to go to vietnam. i think this note only -- not only way to address u our issues with china, i think many more forums are better. >> we should address china on multiple levels, and we are. treasury department has been tougher with cfius and canceling chinese attempts to take u.s. technology, you have a defense build up, president restores spending to 7 billion, and a secretary of defense who is doing what president wants talking about busting up forces in asia. but economically chinese are on back heel, food prices spiked, because of swine flu the pork prices have doubled and chinese premier run into political

trouble in hong kong because of his ope own causing. i agree we do need -- the way you establish certainty say we'll wait until after. >> so did the president blink, details are not out yet, in your estimation did president blink give in to political pressures by removing tariffs. >> we have to remember china is very smart on these. and this is a good week for them to try too cut a deal with the president. that is the big worry to electric at details of deal, when you take into considering this other stuff on capitol hill with impeachment, president wants this announcement. have you worry that china saw weakness and stepped in cut a deal, i would disagree christian, you have to see what is going on in rural america, bankruptcy up 23% among farmer

that is a fact these with ethanol waivers that has hurt farmers, but biggest issue is intellectual property. >> can -- >> they have been stealing intellectual property for decades, we cannot let that continue, and only way to really rein in china -- intellectual property to make sure our allies are working with us, one off deals, they don't are not as effective on thatish. >> they are only thing this is effective, great to say to get together with allies it would be great if france, germany and china got tough w we have been saying that forever. >> two things. >> first, china is not going to change so easily they have been promising things throughout years, cutting deals, but something about china, they are cutting so many partnerships and

so many teal deal rao deals in the world -- deals, i am not sure we could say they are in big trouble, they cut a deal with pipeline and china, they have a lot of ports in world, they are in debt they have ghost towns, i think they are in decent chi shape going forward. david: christian one question. the thing that stopped last deal was verification. we thought we had a deal worked out, so did chinese here then to bay thingtobeijing, they say no. now beijing said it will not discriminate between chinese company and foreign company on ip, we know that is bs, how do you nail them down? that key problem. the law they passed, breakthrough we won't

discriminate against foreign ip, they don't protect domestic ip, in china, what's yours is mine. they allowed chinese government to access computer in companies, we have talked about we're opening an office in beijing, we have huge diplomatic missions in each other's countries,on well -- way tonly wayto watch tr companies then ease up pressure. david: i don't want to rain on anyone's parade, a great day for the market but a lot of reasons to yet be skeptic el, thank you, christian. david: a new study plowin blowis in one of elizabeth warren's signature tax deals. details on that and how she is responding, coming up next. h.

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david: elizabeth warren is pushing back. research group from university of pennsylvania finding that even if her new tax survived constitutionallin challenges it would collect 30% less than her claims it would reduce economic growth by discouraging investment. here is how senator warren responds. >> they didn't actually analyze my wealth tax, they changed provisions then analyzed something else, i am very confident about our numbers on this. it is a very popular idearc ide. >> will it survive. >> what is popular with democrats is having wealthy americans pay more in taxes, i

support that, all democrats do, question is how, problem with wealth tax it is likely unconstitutional. david: why? >> the constitution allows to us collect taxes on income. so nowhere in constitution does it say we could put a tax on assets. country that had it largely backed away. wealthy do need to may more in tax in my judgment, best way to do that raise capital gains rate, no reason it should be lower than ordinary income rate. people who invest for a living should not pay le not pay les in those who pay work. >> i have to give you great

credit. i don't hear many democratic referencing the constitution any more. thank you. the reason to oppose wealth tax, elizabeth warren's we'l wealth , it system more -- it is immoral, un-american, unfair. in this country wealth is private, not elizabeth warren's right to redistribute what she think its right. this notion that we could vote to steal people's money, on which they have already made taxes is mob rule in america. >> before we tax another american one dime, we should get a full accounting of everything they send, they do a trillion over what we're spending, but back on elizabeth warren. let me say this, i think everyone has it wrong. does anyone believe that the people that are very wealthy who have very smart accountant and lawyers are not already sitting

back saying, the about bahamas and bermuda look pretty good, do you think they will just take that every year on their wealth? they will begun. and when you have nobody left to tax have you no money, then when these people leave the economy will head south, goes there vicious cycle the worse idea i heard. >> to that point, i have talked with heads of two or three money management organizations, that is what is going on, they are besieged by wealthy people trying to figure out how to get around this, that one of reason it is not product call an practd has not worked in other country. the reason i believe, it is not constitutional, it stets up taxation as proportionate or some word like that indicates that every state is subject to

day same taxation but her taxing are only on billionaires and people over a half million in assets, it is new york, it is california a few other states that is what -- that is a serious issue in terms of -- >> there is also th the intrusin issue. have you tax police come to everyone's house decide how much this painting is worth this jewelry. >> we should not play that out too far, the morality point i don't think it valid, we can charge whatever tax we decide as a nation through democratic process. we charge taxes on people's houses. which is an asset tax, not talk when morality, we should talk about practical smart tax policy, it is probably unconstitutional, wealthy need to pay more. >> no they don't. >> yes, they do. >> we have trillion dollar

defit, economy record growth, debt -- >> john. >> let me. >> basic research, and the data is clear the wealth have contributed less as a share of their earnings than in decades. >> let me just -- >just -->> respectfully disagres immoral, it is wrong if you break stow t into someone's houu steal their money, it wrong if you vote. >> do you think property tax i immoral? >> i do. >> you don't want public schools. >> no, i would refer private schools, you are getting it finally. david: you can tell jonathan is a libertarian. >> there is another term beyond that. david: britain is waiting for results of high stake general

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conservatives extra 50 seats won, and also 86 seat majority that is a thumping. a dreadful night for labor who have -- if numbers prove to be accurate, they would have lost some 71 seats coming in with 191. that would belowest number for labor in the decade that would bring to question the future of jeremy corbin, who has been running a campaign that has been based on health service, and other issues social issues of the u.k., boris johnson has been pushing brexit. and if this is true, he could get brexit through and by the january 31 deadline of next year. really quite a remarkable night, i have to stress, these are just predictions, real numbers are starting to come in probably the first seat or two next half hour, but not until 6 a.m. local

time before we have true picture. these exit polls, have been pretty accurate in last 3 electiontions. if true, boris johnson has been vindicated for calling that snap election, now can get his dream of his brexit plan through. a big night it appears for boris. david: extraordinary news thank you, ashley. how will what happens there affect us here? >> well first thing, is that so-called special relationship is alive and well because president trump and boris johnson have a pretty good relationship, they have been talking doing a major trade deal on heels of brexit arrangement that is made. i am not sure how fast they will be able to move toward brexit, but my guess johnson having secured it appears the substantial majority that is contrary to most recent polling out of u.k., this something, i

think they will move quickly as they can. >> i think someone who is running in democratic primary against people who are running to similar flat platform to corbin that send a message. david: which is. >> socialism is not what american people want, it not what works, we are to get back to kitchen table issues that matter, fixing healthcare, creating job, and raising pay. and creating public schools. those are thing that matter, not throwing out whole economy model. >> a great opportunity, as you said, if socialism does not work, you know what you know whato -- capitalism works this is a great opportunity for u.k. to try capitalism, they have broken away from rest of the eu to establish free trade. and open revisiontion regulations and -- regulation, and make u.k. a free trading center.

watch t to flourish. >> capitalism is great but it needs to balanced with strong social programs, a safety net and making smart investments that combination has been has bn jeffrejeffreygenius ofthe u.s. >> let's be real. boris johnson looks like high won, but big government in u.k. is not going away, for me about like the flu up against pneumonia, we know who that new pneumonia was, hopefully they anymore toward capitalism, people in u.k. are fantastic, i think that jonathan said it right, there could be another hong kong there, they are a great financial center, times that by two times that by three. david: old hong kong, emphasize

that. >> old hong kong. david: fiery exchanger on capitol hill, key house committee prepares to vote on articles of impeachment again president trump, our ban on mann inside, following all of the fireworks. >> how can they stand up and say, two weakest articles of impeachment, with a straight face look at american people say we did good. do you recall, not♪ ♪ we would walk on the sidewalk ♪ ♪ all around the wind blows ♪ we would only hold on to let go ♪ ♪ blow a kiss into the sun ♪ we need someone to lean on ♪ blow a kiss into the sun ♪ we needed somebody to lean on ♪ ♪ ♪ ♪ all we need is someone to lean on ♪

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david: house judiciary committee -- democrat and republicans dis agrerepublicandisagree on credif impeachment. >> if we don't respond to president trump's abuses of power, the abuses will continue. we cannot rely on an election to solve your problem, when the president threatens the very iny it getveryintegrity of that ele. >> this not a rifle shot impeachment with -- this is a bird shot this is pin the tail on your impeachment theory. david: to the man inside of beltway, chad, assuming that house votes to impeach, senate vote to dismiss the articles of

impeachment. >> absolutely, this just takes a minority vote. there is one school of thought that where president wants to talk the bidens that would give democrat the chance to call perry and mulvaney, if they dismiss it quickly, all they have to do is present articles to senate that just takes reading them allowed and - -- aloud . >> in senate doesn't mcconnell and schum very to com schumer hh a struc structure for impeachme. >> they don't have to do anything. there are 25 rules which were written for impeachment trials.

they are treated like standing rules in senate, there are 44 standing rules, you can't undo those rules, but only two things they have to do is what i spelled out. this key difference, i want to hone in on when trent lott and tom daschle did in 1999 with approximatelapproximately clint- president clinton they got together forged a deal got all senators to agree to something, you can imagine that happening in this toxic environment. >> chad tremendous reporting. let me ask you, gets past impeachment now, it looks like a done deal, are democrats going to run on this politically. and is president running away from it? reporter: you know pretty -- for president trump to have that albatross. you know to be you know the

third u.s. president to have this but in some respects, you know, things work in reverse for president trump. he might embrace this. and try to you know turn this on democrats, in politics you need a foil. this is an opportunity for him to turn it on them, you can see liberal democrats maybe over playing their happeneds in liberal district -- hands in liberal district that could backfire on moderate democrats, impeachment is so muscl muscula. >> chad is one of the best in business. i think chad summarized it perfectly, no one knows how it will play out, i don't believe that democrats did this for political reasons, i think they did in for principle, i think there is a chance that mcconnell and schumer cut a

deal on how to do trial in senate, i don't think it will be dismissed right away. it will be a 3 to 5 week trial. and i doubt there will be witnesses, i think it will be a straight forward trial, democrats we present our case, and president will have an opportunity for his defense, they present their case, it will be straight forward. >> key, you know to point out, a lot of people go to 1998 model, talk about how republicans and house over played their hand, history does not always repeat itself, just because democrat did this, does not mean it will necessarily blow up in their case, but converse is, you know if democrats go through and impeach, people say, you know this is te terrible for them,. look at model 2009-10 with obamacare. this is the resounding roll call

vote from this office, democrats thought that was writ right thin you talk to democrats they tell you they think this is right thing, politics be dammed, it could be similar to what happened with obamacare. >> i keep wondering about those senator still running for presidency, and being tied up bike elizabeth warren and bernie sanders. are they going to' even three or four weeks of sitting in that chamber, it seems they certainly will want to pretty expedited trial. i would think that chuck schumer has to pay attention to that get this over quickly. reporter: depends on what they think their rival circumstance if they want to call in bidens, does bernie sanders or elizabeth warren think, maybe we should agree to that deal to have witnesses here? you know, you have to really think this through the 3-d chess of who that might benefit. and you are right, they have to be there, senator schumer indicated other day that it is you know a paramount responsibility to be there, the

sense -- sergeant at arms could get the senators and compel them, we don't think that will happen. i will say senators do take their responsibilities seriously, and for something of this magnitude, they will probably be in washington. david: chad, president called this impeachment light had. and "wall street journal" said this say low bar impeachment with nixon and clinton, you done have to proven tents. there was -- intent there was a specific cr crime, this still partisan will it now become a low bar impeachment process repeated more often in future. >> -- cardinals won the world series, they only one 84 games, they are still the world champions on scale with yankees and reds, there is not an asterisk next to your

impeachment, either you are impeached or not. david: question is whether you have an o an asterisk every term now on. people talking about impeachment in second term of trump. chad thank you very much. >> thank you. >> how can democrats compete with the strength of the trump economy in we'll ask john delaney, coming up. >> we had tremendous reports coming out on the economy, it will be incredible, numbers like we've not seen before, 26,000 jobs we're the envy of the world, we want to keep it this way. i'm your 70lb st. bernard puppy, and my lack of impulse control, is about to become your problem. ahh no, come on.

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win against any democrat candidate. >> no question, reason i do, everyone that i talk to, i ask them are we stronger now? or 2016, every person without missing a beat or blinking an eye, come on they roll their eyes, you are stronger now. david: eric trump, confident that strength of economy under his father will easily deliver president trump a second term. and on unemployment at 50 year low, wage growth on the rise, john. how do you or any of your democratic rivals run against the strength of this economy. >> well, you know in many ways, i'm happy that jobs number are good. but i think story is less about jobs more about pay. 40 -- according to fed data, 40% of american people cannot afford basic necessities, you travel, you go to small towns you see people with two or three jobs, half of country cannot afford a

surprise 500 expense. we should have been doing things like increasings earned income tax credit, a national infrastructure program to create middle class, middle skill jobs. i think this election will be about a variety of issues, always about the ecuador but i . >> we have wage rates rising at fastest rate in 30 years away ahead of inflation, one thing that does not get captured in wage data because there are million more jobs than people a. the opportunity to upscale for a better job numbers ref -- reflect that, people's incomes are going up faster than single digit wage ins w increase we se. , i think that data you talk about, i am always suspect of

these number its turns to be a talking point, i will go look at these numbers, and see if that makes sent to me, it does not make sense in this environment. >> as i always say, unless you are god bridg bring data. >> that is what i do. >> these are numbers. >> another piece of data, census bureau says current population survey middle class income is up 5,000 since president trump became president. >> one more thing, can i say, the president's approval rating on economy is something like 57%, close 60. that tell niec me most americane feeling pretty good. >> they are feeling pretty good, i wish more people voted their pocketbook, i don't think they do if they did they would vote for crallism an capitalism and . and in obama years, a lot of

people voted for obama they voted for taxing themselves, a lot of people vote on morality. what is not working for democrat is anti-trump all of the time, they need an optimistic vision for america to counter president trump. >> i agree with that. >>l let's not forget who is leading. imagine the day bernie sanders says i will raise your taxes if you make above 29,000, and president said, i lowered your taxes, imagine if elizabeth warren said, my plan will will cost 2 million jobs and president says, well my plan brought in 6 million jobs, imagine this joe biden said, well, i'm going to roll back everyone that president did and president says, everything that i did has led to 3.5% unemployment, they have big problem if you go t -- toe-to-te on those numbers, these numbers today.

>> business community wanted 25%, they cut to 21%. no one asked for, let's raise it to 25%. let's launch a fully paid for trillion dollar infrastructure program to rebuild communities in the country. there is a wins message. >> leave it there. i know we could go on, before break, what is coming up on "evening edit." >> i wish i was sitting at your kitchen table, half of what john delaney gis just said was total wrong. david: oh,. >> i agree with liz peek, surgeon, it was of -- sorry, jos off base. >> highlight of impeachment hearing today, democrat case getting weaker by hour, more new poll results showing voter don't see an impeachable offense. and democrat moderate defecting, getting reporting in, also house judiciary chair jerry nadler joins nancy pelosi and adam

schiff in a desperate move, saying we can't rely on voter to get rid of president trump. >> and more egregious power from the fbi, under the obama administration, president obama did know in 2016 about fbi spying on trump campaign, and be in february knew in 2017 -- >> liz we have to run, a hard break, i'm sorry we'll get to diswrojohnjohn delaney on your . david: another scary incident with amazon ring security system, this time in a child's bed 4r507bedroom. kurt the cyber guy is here to tell you how you and your family can prevent that from helping, you want to stake around for this. do you want? i've got uh, ai robots, i've got vr goggles. i want your sled, please. no.

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david: hacking into your home, stories have been popping up where amazon ring security cameras have been hacked into. the latest in a kid's bedroom. >> who is that? >> i'm your best friend i'm santa claus. >> mommy. >> i'm santa claus. don't you want to be my breast obestfriend. david: scary stuff, is there anyway for amazon to stop this. >> i know the guy behind ring, the fact is, they did not intend to do this they had that camera up 4 days, they make mistake most make, we unwrap this time of year be we have camera in house. to take care of our pets, watch our kids, we don't turn on that two factor a -- authentication.

you make sure it is you connecting with camera. make sure that creep cannot get through as easily to -- get in your house, that cannot continue. >> gary. >> my simple question is, how do they sell a product that has the abilabill fee of ability of a c. >> until we can lock up every hacker in the world, no. >> this technology is convenient for us, we adapt using it, we love it, then we see stories like this, we demand they strengthen the security. they tweak it a little bit. security is there, they didn't activate it, this is a wake-up call on all, if you have this

stowfstuff that is pointing at r private in your house, god know what that creep could have done had she was alone. >> i am bewildered about a parent that puts camera in a child's bedroom, if my days legos. play mobiles. >> this is not entertainment, jonathan. jonathan. >> i was naughty, i think my parents would have done well with cameras, this is kind of classic, a baby monter, we use them. >> it is essential, it keeps us in a place we understand that our kids are safe, we need to make sure we bolster that security ourselves says that is available for most. david: we have to leave it dplrk we could git, itthere. >> a good message. david: a great message. remember cocaine santa sweater? it now looks like that is not stopping world's largest on-line

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david: the infamous cocaine santa sweater that walmart pulled is sold on amazon, it is a bestseller, should it be. >> it is terrible, insulting, again our values, amazon should take it down. >> i think it is charming, a book free to choose, this demonstrates this america's religious tolerance, imagine if it was any religious figure in middle east. >> it is pretty scumy, if walmart refused to sell it, i think bad that it was picked up by amazon but note surprising. >> i guess amazon new moniker infloin-- blow we trust. i think this probably a lot worse out there than this.

david: i don't mean to be a party pooper. i am for a good time but thousands of people who died from this addiction not good. that is st for "bulls and bears," thank you, john, see you next time. elizabeth: s&p and nasdaq close in record territory, we bring you break down on impeachment hearing, this has house judiciary chair nadler reiterates what nancy pelosi and schiff say, democrats will not lead it up to voters in 2020 election, saying we cannot rely on an election to solve our problem, meaning getting rid of president trump. >> debate, is impeachment falling apart, a month might mol shows a majority of voter still do not see an impeachable offense, they oppose impeachment, nancyos