>> from the fox studio in new york city, this is "maria bartiromo wall street". maria: happy we can to all, welcome to the program that analyzes the week that was in

position you for the week ahead. i am maria bartiromo paris climate which is their top priority. >> we will work to restore american energy dominance, not just the energy security the energy dominance which will lower cost and bolster our national security. i am excited to get to work with this team right away. democrat progressives are sounding the alarm. people care deeply about climate change because my stay is literally on fire and people are anxious, they are anxious and are worried. >> it would be very much the trump team saying crank up the fossil fuels and tear down any

advancement on renewable energy economy. this is probably the biggest issue humanity faces. >> it is clear that the next administration will try to take a u-turn and reverse much of the progress. it is real and it's a matter of life and death. climate activist and world leaders are queuing the sentiment at the climate summit underway in azure by john. here to react the house energy and commerce committee member august pflueger who will be in azerbaijan next week leading a delegation of lawmakers to the un climate talks. it's great to have you this weekend. thank you so much for being here. >> thank you for having me. what are your goals as you had to azerbaijan. >> speaker johnson asked me to lead this delegation is pretty simple is exactly what the mandate that they make a public avis on november 5 it is energy dominance is unleashing american energy, it's making their partners and allies not just domestic needs are met. there are many estimates that

the electricity demands over the next 15 - 20 years are double and you have to be ready for that and unleashing to compete against adversaries which is top of mind and only good for the economy is also national security issue. maria: you represent arguably the most important area region for oil production in america if not the world that the permian basin and you got a lot of value to bring to the table. many women the permian basin have been meeting those needs we got to the point where we are exporting more than we were importing and you places like the bucket in the marsalis and the utica all throughout the united states and we need to cut regulation and we need to unleash the potential that we have, it creates american jobs in their partners and allies want to depend on us not russia or venezuela or china. maria: meanwhile, the president is meeting with the world largest polluter this weekend

speaking with china's president xi at the apex, and south america. will he hold president xi. brian: the climate or anything else to the fire do you think. >> we have seen his track record in our enemies don't fear him, our allies don't respect him and what he should say the president xi you're responsible get 30% of the worldwide mission. and stop sending fentanyl precursors into our country and stealing her intellectual property and that's why it's so important for president trump to be inaugurated and get us back on track and any other aspect of the national security and economic puzzle. maria: is gearing up trump shaking things up with a cabinet pyxis week what's your take on the key positions congressman? >> the speed by which president trump is incredible the ready in

organized and they know what the mandate is in the agenda that the american public have charged us with, the senate is going to have a say, were excited about what they're going to do in talking about energy we know they will unleashing and being a military veteran and is important to regain our readiness to ready to deter the enemies around the world and our adversaries around the world. >> that's why the criticism of the biden administration no deterrent in place for china and no deterrence for iran, no deterrence to stop their bad behavior and get ahead of it, why not? >> he started on day one by green lighting the nord stream project, he reinstated the nuclear program for iran and made every wrong decision the bosch withdrawal from afghanistan one of the most shameful things that i think her country has had to endure in our enemies around the world are

looking for weakness, they saw and taken advantage of it we have to regain strength. i go back to president reagan you want peace through strength and that's what we need, every decision president biden has made has weakened our country domestically and in foreign policy. maria: it is incredible that all we have seen is the election and president trump when it. suddenly everybody's getting into line, last week we had the russians are suggesting they want to reset with the u.s. and we see corporate america start taking their supply chains out of china. steve madden says he only wants to do business production in america among others. you have china trying to do a reset as well and all it was the fact that they know president trump is returning to the white house. >> that's exactly right, he is serious about relieving our country and he loves her country and our mandate is very clear let's restore the dignity and

the character of this nation was get back on track and every single area read am excited you can feel around d.c. in the house of representatives and i'm sure in the senate we have a lot of work to do but is very exciting we know were to get back to the place that america needs to be. maria: congratulations to you you were elected chairman of the republican study committee the largest conservative caucus on the hill. tell us what you hope to achieve when you hold the majority in the house. i'm honored to be elected by our colleagues, it is a proud organization in the largest conservative organization on capitol hill. i think our job is going to be to make sure the conservative policies continue to get past it, we get president trump's agenda past and we do it by which the speed and the desire by the american public, the mandate they have given us and he goes back to the simple basics, but secure the border

and unleash american energy and bring national security and deterrence back to our military and take care of our warriors and their families that's unleash our economy these are the things that were get into the republican study committee has a 50 year plus history and doing the and honored to lead it. maria: that is wonderful we are watching your work. congratulations and thank you so much for your time this weekend. >> thank you. congressman august pflueger joining us from texas. the federal reserve throwing cold water on the stock rally this week former national economic council larry lindsey is here meet the traveling trio. each helping to protect their money with chase. wooo! tools that help protect. alerts that help check. one bank that puts you in control. chase. make more of what's yours. ♪ whenever heartburn strikes, get fast relief with tums. it's time to love food back.

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or get a gift card instantly at wt.com. maria: where markets ended that we, october retail sales higher than expected the month before as well as we head into the holiday shopping season. we also saw wholesale in consumer inflation take up as

well. investors have been expected another cut and interest rates a quarter of a point but this week jay powell that on thursday that he is in no rush to cut rates further. the ceo of the lindsey group in the national economic council director larry lindsey thank you for being here this weekend. how would you assess the economy today? >> i think we were a strong economy, has a lot of tailwinds behind it including increased government spending. it has a robust labor market, wages are high, real wages have gone out and i think that coupled with the wealth effect from a high stock market at least to start for a strong 2025. maria: in terms of the trump administration coming in with president-elect trump's goals to

tap into the energy capacity in america and extend the tax cuts, what are your thoughts on the incoming policies? >> i think that you mentioned they are absolutely essential extended the tax cuts give certainty to the corporate sector with deregulation in a lot of areas are crucial, the question is and when if you rearrange the applecart may tip over he has a lot of aggressive cabinet members with big plans. the country definitely needs big plans. doing them all at once may be a bit much. maria: president trump has talked about deregulation, talking about that and cutting regulation being more impactful than lower taxes, do you agree

with that and can you talk to us about the opportunities to spark economic growth by that cutting regulations. >> certainly in the labor market there were a lot of rather silly regulations put on by the outgoing administration and i think one of the most important is something that we forget about and that's a new regulation on gig workers they have to be treated like employees. gig workers don't want to be treated like employees that's why they're working whether working they want to be treated like entrepreneurs and i hope you will definitely move on that, he's got to move quickly with the office of information and regulatory affairs which is an omb yes up with the right people in there and resend president biden's executive order that basically ended cost-benefit analysis which i thought was absolutely amazing when he did it, those are important areas to go, the

appointment of robert kennedy from whom i have a lot of respect, i think i'm not sure will confront all the problems that we have the healthcare industry and the natural temptation will be little be to read regulate, to be very couple kitted agenda. maria: what about treasury secretary there seems to be a horse race, howard bought nick wants perhaps the job reportedly and you also have scott bessent and john paulson took his name out. what are you expecting for treasury secretary in terms of the roles that are most important here, what should treasury secretary into you think it is? >> i have no idea. >> i have no idea. scott has been a friend for a long time, he is the man i'm rooting for but i'm sure the

qualified people and the president will make the right choice. maria: i would get your take on tariffs and sanctions and whether or not president trump will use these industries each way, i know there has been a lot of upset over the use of tariffs. president-elect trump has been very clear and uses these to get people to the table to keep adversaries and check, what are your thoughts on tariffs? >> the president will use as bargaining chips. i think that is important for everyone to keep in mind. it's how the bargain ultimately works out in the end and will determine whether or not a successful strategy will get an fm economics this is not a sales tax that is good to be borne entirely by the u.s. consumer

that is not true of any kind of tax, depends on the supplier and the demand. in the elasticity of supply and demand, in the case of china and china will bear the cost of most of the tariffs. they doubled that on export growth strategy and outsourcing from china which gives us elastic demand 20 of choices to go to. in president trump will extract a lot, president xi only real exit is to devalue the chinese want. that is something that he is loath to do. i think the china negotiations will go well. maria: thank you very much. great to have you. >> my pleasure, always good to see you. larry lindsey joining us.

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>> we want to/and burn the bureaucracy to help americans stimulate the economy and restore self-governance again. the people that we elect to run the government they are not the one that from the government anymore as unelected bureaucrats speed with theepartment of government efficiency headed by elon musk and vivek ramaswamy already getting to work. vivek ramaswamy on tutoring and dollars of government cuts the ei spending and trimming the workforce could be first on the chopping block as new data shows trump is set to inherit the

largest budget deficit in history, dreaming out americans for tax reform president grover norquist, great to have you think of her being here. they say they will live stream weekly updates for everyone to see in terms of what their cutting. what you make of the new department the department of government efficiency. >> i think transparency is extremely helpful, peter gray stated effort that lasted until 1984 but he did all the study and handed it out in the big book. if he released what he found week after week it would've built more support for in the country and people would've realized what the opportunities are. i love the idea of the transparency. maria: president-elect trump has been talking about his economic plans and he wants to extend the tax cuts and have no tax on tips or social security and no tax on overtime. how will you pay for this. do you buy into the idea as

president trump has told me that as you cut taxes you can actually broaden the base of those paying in taxes, how does that work? >> he may be saying if you cut taxes more people come to work and therefore you have more people making income and paying lower rates that's certainly true for the personal income tax if you are adding new people and bringing people into the workforce. we don't have as many people in the workforce working as we should it is lower rather than higher. if the president wants to take the tax cut and past into thousand 17 and take out another ten years as permanent as anything in d.c. congress is ready to do that, the house and the senate and they also made the point there is no requirement or need to pay for policy that is continuing the present policy of the trump

tax cut the other things that they're talking about doing the president brought it up again and they tried to do back in 2017 was to end the double taxation on americans who work abroad were the only country along with a richer attacks or citizens with a working america and tax them when they go to germany and pay german taxes and american taxes even though they did all the work in germany. germans in america paid american taxes but not german taxes. it hurts us. maria: that is a great point, you also mention the corporate tax rate president trump said if you're going to produce and hire americans and do everything in america as opposed to doing it cheaply overseas, you will be eligible for a 15% corporate tax rate, you say corporate taxes is one area when you cut them you gain revenue and are looking to increase revenue, how does that work.

simply we stop the highest taxing in the world, 35% under obama that was taken under 21 the european averages around 25%. in the united states a 21% we have an average 4% state tax cut so the 21 is really 25, china is at 25 and another at 15 we should have lower taxes and a communist country europe around 25 we should have lower taxes in europe not taxes as high as your in when you simply cut the corporate income you allow companies to do what they did in 2017 on less to invest more in jobs and productivity invested in productivity makes people available to be paid more because they're producing more and we saw the tremendous growth that took place in 2019 alone in the median income jumped 6.8%

6.8% more than the entire growth and obama years. that get you growth and brings in more revenue of the government as more people are working and earning more money. very good analysis. thank you very much. grover norquis (♪) (♪)

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♪ ♪ >> one thing you need to know about ahead of next week only in america if you're looking to own a rare piece of presidential history now is your chance arrange of items up for auction next friday new york city. what are the most unique artifacts is a lock of george washington's hair with the starting bid of $15000 others include a letter signed by through the founding fathers in the flag draped over lincoln's

coffin the auction house estimated many of the pieces will fetch up to a million dollars. check it out. "sunday morning futures" around the fox news channel. i will see you at 10:00 a.m. eastern life or "sunday morning futures". exclusive interviews with trump organization executive president donald trump jr. missouri senator eric schmidt, kentucky congressman james comer and vivek ramaswamy to tell us about government cuts and spending. that will do it for now, thank you for being with me on fox business. have a great rest of the weekend. thank you for joining us. i will see you next time. >> "barron's roundtable" bonser by global x etf's. ♪. jack: welcome to "barron's roundtab