exemplary. kennedy: thank you come back anytime just not anytime tonight. follow me on twitter. see on fox and friends and her tomorrow that's all i've got. c, wall street is racing ahead on

word that the trump administration has completed a phase one drug deal with china. that's calls for pushing back on tariffs on chinese goods. $50 billion in exports scheduled to kick in sunday. we'll find out if that is the case. michael pillsbury is here to join us on all of this. wall street's vote is already in. the dow surging ahead 225 points, and the s & p 500 up 26 points. the nasdaq's 117th close in the trump era. two principle aspects to the trade agreement reached between china and the united states.

economically what benefits each country. what does each give up and what will rehave as a result in balanced reciprocal trade and politically what are the up reply cases for u.s. national security? with us tonight to take up all of that, dr. michael pillsbury, he's director of the center for chinese strategy at the hudson institute. good to have you with us. this is an extraordinary step forward. it is, however, still clearly unformed. what are your thoughts? >> i think it's a tremendous achievement by the president. he told might has do with his relationship with xi jinping. this has been part of his strategy the last three years. the focus on the authoritarian leader who has the power to deliver the kind of results that president trump promised during the campaign. it looks like he's done that. the president is quite delighted

that the chinese have agreed to his terms. this is a clever idea to have a phase one and wait a year to sign phase two, that's what the president told me today. lou: there will be no talks in 2020? >> the talks can go on but they won't be public. the idea is to have a signing ceremony with president trump and the chinese a year from now and try to cover everything else that isn't covered today. lou: that's a lot to cover. as i understand it, we are looking at the basics of an outline here of a deal. i don't know there is text to it. >> no, lou, it's much more than that. the president said he's nailed down quite a few things. lou: way was saying -- i want to get to all of it. but i want to establish first

whether there is text to all of it. >> there is some limited text. whether the president wants to announce the whole thing with a long written agreement, i'm not sure. does it matter that the chinese may have given him so much that he doesn't want to embarrass them by making it all public. so it might and lower-level signing agreement. not him and president xi and not some long 20-page deal. but there is enough detail in what's been agreed to that i'm astonished at the successfulness of these talks. they have gown and down as you know, and now looks like a real breakthrough. lou: that's wonderful news. investors thrilled on wall street. now you are talking about details and the coverage of the agreement. if you will give us two or three of the principal highlights.

>> the president campaigned on the trade deficit, that it was sucking our manufacturing dry and cratering our inner cities, the fentanyl outbreak was based on unemployment. so he wanted to focus on additional chinese purchases of american products. he has locked in $50 billion just in cultural products. energy will be added as well. the second thing is, something you mentioned many times is this rampage of stealing our intellectual property and trade secrets. the president said he locked that in with an investment, with an ebb force the mechanism to protect our investment in technology. lou: robert lighthizer the u.s. trade representative maintained throughout that he will insist upon powerful enforcement

mechanisms particularly in intellectual property. are there dates certain for trust but verify verify case? >> it's my understanding that the $50 billion purchases have to be the same quarter by quarter. we'll know fairly soon if the chinese don't make the purchases they promised to make. there are several other mechanisms in the enforcement process that deal with an end to intellectual property theft. at least if it continues we'll have a mechanism to punish the chinese when they are caught doing it. that's part of the break through. >> it's one of the most difficult aexpects of any agreement with the chinese. it goes to the heart of national security. the chinese as ut as that you td me with the cultural imperative

towards pillaging and stealing intellectual technology and whatever they can. >> they call it revenge. >> i call it theft, and i don't like it. i would punish those who did. is there a mechanism for that to take place? their culture be damned. >> a certain amount of punishment will be involved if there is serious chinese cheating. i want to be optimistic and celebrate the breakthrough. but the president's technique seems to have worked. gradually work on each individual concession. pocket this phase one deal today and tomorrow, announce the details, and leave some of the harder issues until phase two. one of those is the industrial subsidies. a massive program they have that

distorts markets. the companies that get subsidized so much also steal our intellectual property. it looks like to me based on what the president said. lou: is there currency manipulation in the discussion? >> i think the use of currency as a weapon in trade the chinese promised not to do that ever again, and that's verifiable because our side can watch the transactions that take place. lou: one of the least opaque issues that are fiercely difficult and controversial for both sides. >> they pride themselves in deception is their trademark. >> a cultural imperative. as also,s we look at what's occurring here, is there anything in terms of financial markets, financial institutions, because as you and i both know, wall street has vigorously interested in whatever vacs that

it can achieve in any deal. >> the chinese have had security concerns. if they opened up their financial markets to american banks to come in and see exactly what the chinese economy is like to make money out of that knowledge, that would hurt their security and slow their growth. that's one of the big breakthroughs. they agreed to open up to american owned banks wholly owned by american banks not joint ventures. wall street will be thrilled when they hear the details of this financial breakthrough. there is the bilateral investment treaty. it's been stalled since the days of bill clinton. the president got a breakthrough there, too. lou: no wonder so many wall street ceos have spent so much

time below any in beijing. i guess the last metric we need to hear as fireworks are going off and there is celebration beyond wall street. what will the trade deficit look like as a result of phase one of being put into effect? >> it will improve. it will also show up in our own manufacturing spurting ahead. the president joked with me. he said our farmers will have to buy more tractors and plant more fields. the large chinese purchase is coming soon. lou: i guess i would say from his lips to god's ears and the farmers are cheering wildly as well. great to have you with us. michael pillsbury, thank you very much. >> i think the president heard your criticism the last two or three years and sort of followed your advice. that's my view of your role in

all this. lou: i'm hardly a critic. i'm more of a cheerleader. eric holder,ed the attorney general who became the first cabinet secretary to earn the contempt of congress tries to intimidate bill barr and john durham, taking on some pretty difficult targets there. we'll take that up with the "washington examiner's" byron york. and i will have a few thoughts about tonight's announcement of a phase one trade deal with china. what the democrats, the radical dimms are trying to do or the course of three years with this president. and it smells like a -- like a not all zeroes are created equal. at schwab, we believe investors come first. we work hard to make you happy.

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seats. socialist labor leader jeremy corbyn trailing with 191 seats. if this holds, it should mean johnson will have no trouble getting brexit through which was his intent throughout in what has been a very controversial beginning to his prime ministership. jim jordan proposing an amendment to strike the first article of impeachment. >> i would say when did it happen? every will swalwell said. democrats say there is some scheme to have an announcement made by president zelensky to get a phone call with the president to have a meeting with the president to get the aid released. when did the announcement happen? they got the call on july 25, they got the meeting on

september 25. they got the meeting on september 11. there was never an announcement from the ukrainians to have an investigation. those are not the facts. lou: the on sitting cabinet member ever to be held in contempt of congress now lecturing about leadership and ethics. president obama's disgraced attorney general

what's really clear is we have gotten to everything has been said phase of this impeachment. they are just saying the the same things top each other over and over and stover. lou: i'm going to make you feel bet were the whole thing right now. this just in to fox.

per chad pergram our producer on capitol hill. it looks like they will continue the committee until the earliest 11:00 p.m. eastern time tonight and could possibly go beyond that unite. i said earlier today they are going to midnight. lou: there is something special about that. >> what this means, nobody's mind is change, not on capitol hill and not in the country. the sides have hardened. i was looking at the polls. if you look at the polls during the first couple weeks of october. there was a peak of support for impeachment. democrats were 85% then and they are 85% now. lou: we are told by our polling folks if you look at the polls in terms of those who are acceptable and methodology and

sample size and margin of error. there are only two of those polls. a 7-point swing against impeachment in that time. in fact, this process has led to greater opposition to impeachment, the opposite of what the dimms hoped would happen. >> if you look at republicans at the same time, some polls support peak up to 10%. if you look at independents it's gone down 5%. democrats are pretty much set in concrete on this. lou: and they are sinking rapidly. >> support from everybody else is going down, and that will have electoral effects. if anyone is thinking about moving their positions, it's probably not going to happen. this is going to be a non-event.

it will be a stain on the record of the radical dimms *. it will be a stain on the judiciary committee and the speakership of nancy pelosi. it could not be otherwise because this is the culmination of what has been a 3-year effort on the part of the radical dimms and the deep state to block, obfuscate and overthrow president trump without a single fact in support of the ridiculous plot that the intelligence agencies spun up amongst four, perhaps five heads of those agencies. it is just so horribly corrupt to look at that it is mind numbing to think it has taken this long for this to be revealed to the american people. >> you mentioned the articles of

impeachment. in the earliest days democrats talked about a campaign finance violation which was complicated. then they were talking about a quid pro quo, then they were talking about extortion, then they seemed to settle on bribery because they had focus groups with the word bribery and it seemed to go over pretty well with people. lou: except for the fact there was none. >> that was a problem. but when it came time to draft the articles of impeachment, they did not charge him with bribery, they talk about abuse of power. abuse of power is completely fuzzy but sound really serious. so that's what they are pushing. the other thing, contempt of congress is fascinating. democrats -- lou: for whom would you have greater contempt if it were not

congress. it sounds like the right decision taken by the president of the united states to me. >> the president has real privileges involved here in his conversations with his national security advisor or his white house counsel or any other top aide about matters of state, foreign policy and national security. he has real privileges and real responsibilities like running the country. and to future presidents and the presidency. democrats, if they want to subpoena this stuff they could have gone to the courts and have a judicious outsider decide this. lou: byron, as always, great to have you here. this spectacular moment in our country's history. as sordid as it may be thanks to the dimms and the deep state.

appreciate it. up next. rinos and the radical dimms alike are voting in favor of amnesty for illegal farm workers. didn't you know we could bring people together. that's what happens in the swamp. we'll have that story and much more right after this quick break. stay with us. most people think of verizon as a reliable phone company. but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business. (second man) virtualize their operations. (woman) and build ai customer experiences. (second woman) we also keep them ready for the next big opportunity. like 5g. almost all of the fortune 500 partner with us. (woman) when it comes to digital transformation... verizon keeps business ready.

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only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ >> you night had to happen. members of congress passing new legislation that would put more than a million illegal immigrants on a pathway to citizenship. the bill is hr538. it's called the farm workforce modernization act. it provides a process for illegal farm workers to seek a certified agricultural workers status. those working under that designation could move on to get a green card. the big passed wednesday 260-65.

republicans helping out. ken cuccinelli, acting director citizenship and immigration services. mr. secretary, i can say now. let's start with this bill. your reaction to it and why must both parties operate in the dark of night? >> you know, we are seeing a lot of that today. but you know, you comment on the way in, a lot of the process is very -- there is a reason the president calls it the swamp. delays reason people don't even argue with that. and, you know, this has come about, there is a problem we have to deal with about a huge number of illegal aliens who are working in -- in agriculture.

what this bill is aiming at is that particular piece of the population. lou: i understand. >> we have the problem everywhere. lou: by the millions. >> yes, that's right. and tens. and all while trying to contend with this swamping at the border. and which draws down a lot of our dhs people all the way to the border so it pulls them away from interior enforcement, span we end up turning a lot of people around very quickly at the border which ways we are doing now. but it isn't without a cost. those people, those law enforcement officers come from other parts of the country and other tasks to do that. lou: it's a mess, isn't it. >> it is a mess, isn't it. >> it is a mess. lou: the president is doing his level best to build a wall,

secure the border, bug undercut by a politically activity judiciary as well as a hell-bent on an open border and wide-open immigration on the part of the democrats. and rinos who want to serve their corporate masters with as much cheap labor as they can get. meanwhile the same people are getting screwed. that's our middle class and hard-working americans put into competition for wages and jobs with folks who are thrilled to be here. >> those are people this president cares about, and i think people on both sides of the aisle -- he got a lot of democrat votes here, too. here is a guy who isn't beholden to any of these interests. what lot of what we are having to do is we have to work with the laws that already exist, we are winning our court cases when they go through, but we have never seen a president more tied

up in knots or attempted to be tied up in knots by judges than president trump. he has had more nationality injunction than all other presidents combined. we saw another one these week on the wall it's devastating to our efforts to build the wall. it's almost half of the wall in terms of its effectiveness. lou: the district court level judge managing to block over $3 billion of border funding. it goes on and on. should the mayor scan people put up -- it seems to me we have two choices at the southern border, just welcome can the cartels, their drugs, their human smuggling, sex trafficking. and maybe on the other side of it we wave the white flag. >> there are people who want to

wave the white flag. >> i don't want to -- >> i said we both know there are people of that would like to do that. but since may we have knocked down the crossing by over 100,000 a month. catch and release was happening en masse back then because our systems were overwhelmed. that is not happening now. border patrol is to be credited. you heard from commissioner mark more garn, they have done a spectacular job of bringing that tone end. that's due to this president without much help from congress. lou: ken, thanks so much for everything you have gone. the radical dimms' attempted overthrow of the trump presidency started with an attempt to block his campaign and then his path to the white house. i have a few thoughts about

this. the dimms and the deep state combined to overthrow president trump. converse live we know all of this because of the investigations that were launched by the fbi and the justice department in their efforts to subvert president trump and his agenda. and the investigations by the doj inspector yearn is hard work to find out what was going on with those initial investigations. and of course a dogged determination of attorney general barr * to investigate the investigators. and hold accountable those who corrupted our fbi and department of justice. even as we watch the hapless dimms trying to construct two hollow and meaningless cartr articles of -- articles of impeachment.

they appear to be unaware they are performing before an alert american public. after three years of their then offous -- mayor attacks on president trump. the cross fire hurricane investigation, the russia investigation, based on one phone call. and now the vapid conclusion to what has been a three-month-long farce. all of it is clear and all of it was designed overthrow the president. if that failed, then to block the president's agenda and intimidate president trump and the democrat party. the president, they want to

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start stopping with nicorette this is the epson no more buying cartridges.. big ink tanks. lots of ink. print about... this many pages. the epson ecotank. just fill and chill. liz: phase one, the deal with china. michael pillsbury joined us

tonight to tell us the deal locks in $50 billion in agricultural purchases by the klein ease and an enforcement mechanism to stop chinese theft of billions of dollars of american i.p. every year. general nadler and his judiciary committee debating two articles of impeachment that haven't got a chance of passage against this president. house speaker pelosi says once that vote goes to the floor for a full vote, she won't force moderate democrats to vote in favor of impeachment. eric holder tries to intimidate william barr. there is more than just a little irony in that. obama's attorney general says bar is unfit to be attorney general. john durham is iewning. maria:'s -- is

ruining barr's reputation. they say two gunmen were driven by anti-white and anti-law enforcement beliefs. congresswoman rashida tlaib tweeted about that shooting saying white supremacy kills. tlain has since d. she has since deleted the tweet. the washington times opinion editor, charlie kirk. let's start out with the great news. the trade deal for the president, it's not what he wanted. it's smaller than anybody wanted. but it's all that was possible. >> to me the greatest part of

all of this is the timing of when this is going on. this is going on at a time where as you were just showing on the screen, house democrats gathered debating these ridiculous articles of impeachment, and when you compare that scene to the scene most americans see today, the economy is doing well. the lowest unemployment in a half century, wages are going up. all the things that actually matter to people going on. you have this circus clown show going on in the house of representatives. lou: it's an unfunny clown show. i am talking about the lowest unemployment rates in history for african-americans, and asians, hispanics. what more could you ask of this

man. the truth is the democrats are asking one more thing. that is to be owned by them. to be intimidated. it's clearly what their strategy was from the moment he announced his candidacy. >> they literally -- they hate donald trump so much they would rather hurt him, hurt america as long as it hurts him. they don't care. they literally hate him more than they love their country. that's -- you know, i can't agree with the democrats on anything. i want an opposition party that keeps republicans honest. i want an opposition party i at least trust. that's a very bad thing for america. >> it's deeply troubling. i don't know if you heard my commentary. to think this has been an

orchestrated effort, a joint venture if you will of the deep state and the radical dimms to hold this president in shackles, to stop, to blunt his agenda, they get lucky, jeff throw him. that's what they are thinking throughout. it required such a preposterous arrogance on the part of the fbi, the justice department and the democratic party who financed the fraudulent dossier christopher steele clutched to throng enough to have john mccain hand it over to the fbi. >> to have michael horowitz talk, he could not connect the dots to prove political bias. behind that. i do understand, i totally disagree with him. i understand why he didn't want to get into this. but this is what appalls me. maybe you can't find a democrat

or republican political bias. but it's the deep state bias that's so clear. that is what it was. lou: god bless barr for saying, the forward of the report is just wrong. >> god bless donald trump. i don't know any human alive who could have endured the crap these people have thrown at him the last three years. he will never get the first term back. look at the amount of energy that has been wasted on all this nonsense. he. thanks so much. we appreciate it. the spying on the 2016 trump presidential campaign. what that means for the deep 8.

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some people say that's ridiculous. i dress how i feel. yesterday i felt bold with boundless energy. this morning i woke up calm and unbreakable. tomorrow? who knows. age is just an illusion. how you show up for the world, that's what's real. what's your idea? i put it out there with a godaddy website. make the world you want. lou: former trump policy advisor carter page reacting to

inspector general michael horowitz' testimony. >> in fact the things that were in there i just the tip of the iceberg. every page i looked through i know additional details about my life and the people i was work with or not working with as the case may be. there is so much more coming out. it's hard to summarize. lou: so let's not try. the spending bill extended the fisa courts another 3 months until march 15 of next year. that's both parties deciding to do that just as we are learning more about the rancid courts and the way in which they are conducting themselves and the way in which the fbi, the justice department and others are abusing them. we are joined by miranda divine. great to have you here.

let's start with horowitz and his report. you are thoughts about it and its up port. >> all day i have been getting emails from people telling me they have been reading "the washington post" and "new york times" and horowitz vindicated comey and the fbi and so on. you would have to be deaf, dumb and blind to think that. i watched horowitz yesterday, and i read the report. and it's shopping and damning. lou: he made it very clear he was not exonerating anyone tied to the process. >> he said there is no bias in the opening of the investigation. obviously lisa page and peter strzok were biased. and he said they were unseemly. but he said the decision to open the investigation was made by

their boss and echo find no evidence the boss was biased. lou: i'm laughing base think that's the silliest thing horowitz did. i think his analysis was terrific. to conjure up a lack of bias at the outset of the report is peculiar. by the way, in the first 48 hours of that report being out he changed things. >> what he said yesterday. he was at pains to draw a distinction between the opening of the investigation which is a lower threshold and the conduct of the investigation which he couldn't have been stronger. the malfeasance, the dishonestly. >> and the truth of the matter is, there was just enough of a smell of the wamp in it for me to be upset. because this is outrageous that we are talking about this 3 1/2

years later. we waited since last more for this guy to come up with a report. i'm not amused. the american people shouldn't be amused. i don't like to see these people in d.c. in their hearing rooms sort of cow to kowtowing and nog their head to this fella. this is a report about the worst political scandal in this country's history. and the niceties be damned. >> the evidence is in there. i think it's good that he acts as the impartial dispassionate investigator. >> i would like to have him be energized. i would like to have seen it not delayed four times. >> it's just the taste. i think anyone who is honest and looks at that report in good

faith will see shock abuses. >> did you see a dwhrin yaition in that hearing room been the honest and dishonest? i don't think the democrats were nearly as appreciative of it as they should have been. >> they are trying to exonerate themselves. this is the beginning of what's happened with the impeachment. all roads lead to rush to putin as nancy pelosi is always saying. adam schiff is so exposed as a liar. he was the one who was reading the christopher steele dossier. lou: he has been lying for 2 1/2 years. how about an accounting. to be honest about the fact this was a politically motivated con try advance on the part of the dimms and the deep state. great to see you. thanks so much.

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on the one device that does it all. thlook at all this ink no more bit comes with.es. big ink tanks. lots of ink. no more cartridges. incredible amount of ink. the epson ecotank. just fill and chill. lou: the trump administration completing the phase one trade deal with china. dr. michael pillsbury sharing the details of the agreement after talking with the

president. >> he locked in $50 billion per year just in agricultural products. energy will be add as well. that's the first big thing. the second thing is this rampage of stealing our intellectual property and trade secrets. the president says he locked that in with an investment, with an enforcement mechanism to protect our investments in high technology. >> dr. michael pillsbury and phase one, the deal is done. investigative reporter john some nonjoins tomorrow evening's does presidential his d historian dog wead. follow me on twitter @loudobbs, like me on facebook, follow me on instagram @loudobbstonight. please join us tomorrow. we'll see you then. good night from new york.

[♪] trish: racism? that's how lawmakers are justifying impeachment of the president of the united states. i'm trish regan. it's getting weird. i am not kidding. as the dems sharpen their pencils one thing is becoming clear. they have no idea what they are doing. and they are in so far over their heads that as a result they themselves are doing the very thing they are accusing president trump of doing. they are threatening the integrity of you are system and our constitution. the entire charade has cost them the trust of american voters. so they are desperately trying