bulldog, we loved her very much. videos jt remind us how much better dogs are hand people. [laughter] people are so problematic, and sometimes you really don't want the deal with them. you never, never, ever not want to spend time with your with dog. dog owners know that. cat owners, i don't quite get. god bless you all, but dogs are wherest the at. maria: you know what? it's true. and i think about my sweetheart, dusty, who is so smart, it's incredible. and, you know, when i first lost ella bella, i didn't want to get another one, but i'm so grateful that i ended up taking the plunge and getting my baby, dusty. great to to see so you with, guys, mark tepper, joe borelli, thank you thank you so much for being here. see you again tomorrow. have a great tuesday. dow industrials at the highs of the day, up 128. "varney & company" picks it up on that note. stu, take it away. t stu stu on that note, good morning, everyone.

call it a great leap forward for free speech. met a making big changes to the its vetting process. mark zuckerberg's fact checkers in the past have been too politically biased. they are moving to a community notes policy similar the, and, and zuckerberg's moving the trust and safety team out of california. where do you think the they're going? they're going to,. if trump -- to texas. if trump had not been elected, this would not have end happened. president biden acting as the spoiler in chief, announcing new rules designed to the block trump's agenda. trump may have trouble reversing them. bind also stopping some mining operations in nevada, and kvp says biden's last two weeks in office will be jam packed. watch out. to the markets. the buying continues. the dowvilles up 125 as we speak, that's with 29 minutes to the opening bell. the nasdaq up another 40 points.

if now edge, big tech -- technology, big tech did well yesterday. something of a mixed picture this morning. amazon, alphabet up. no selloff. bitcoin holding around $100,000. there is the, 100,700 per coin. i got that. the 10-year treasury yield just above 4.6%, moving to 4.663. the 2-year right around 4.25, you're at 4.27 there. the price of oil, $73 a barrel. gas, well, that stopped falling. regular now averages $3.06 per gallon, diesel actually moving up 2 cents to $3.53. on the showed today, biden releases 11 terrorists from guantanamo bay. they'll be transferred to oman if to restart their lives. separately, the white house is negotiating with the that'll t t one high profile gitmo prisoner

for americans detained in afghanistan. this is a woning story. the revolution in american government. business people run the new administration, not politicians. maybe that's why biden's so desperate to block the changement all around the western world bureaucratic, leftist government is in, trump-style government is in. just sit back and watch history, folks. it's tuesday, december 7th, 2024. "varney & company" is about to given. ♪ ♪ ♪ i got nothing to say, but it's okay ♪ good morning, good morning, good morning ♪ if. stuart: the beatles' tribute, so it's the not actually the beatles. a little watered down there, but i'll accept it. i like it. >> i don't know about that. stuart: look at sixth avenue, empty. it is extremely cold, by the way.

oh, yes, congestion pricing. that's having an effect. all right. congress has officially certified the 2024 election which means the transition of power has begun. trump's inauguration is just, what, 13 e days away. trump says biden is doing everything in his power to make the transition as difficult as possible. he took to truth social to slam biden's lawfare and his executive orders on energy. he wrote, and and if i'm quoting, fear not. these orders will all be terminated shortly, and we will become a nation of common sense and strength, end quote. all right. now listen to what the white house says the president will be up to in the next two weeks before leaves office. >> we have 14 days, and it's going to be a jam of packed, certainly a jam-packed final sprint to the who two weeks. as you know, we're going to go to nola, new orleans, we're going to go go the california. when we come back, the

president's going to -- there's the carter, obviously, the carter memorial. but he is definitely jam packed, jam packed. as you all know if, especially just looking at the weekend. stuart: joe concha with me now. is this just going to be two more weeks of biden spoiling trump's administration? >> well, karine jean-pierre is right, stu, in the sense that we have not seen joe biden this alive at any time during his four years in office. i mean, he's really been active and really busy like we've never if seen since 2021. but, of course, to your point, the goal so to harm the country in the midwest vindictive fashion possible -- in the most vindictive fashion if possible. why else would they be selling off border wall for pennies on the dollar unless it was out of spite and to hurt trump in why else would they ban offshore drilling knowing trump wants to, on day one, drill, baby, drill? why else would he commute the

death sentences of, what, 37 of 40 inmates on death row? i mean, this is so small,s it is so petty, it does nothing for the well-being of the unite. zero class, zero integrity, and joe biden will exit as one of the most unpopular presidents we have ever had at least since carter or nixon. stuart: joe, i want to bring you back in just a couple of minutes. i've got another issue for you. meta just announced major changes to its censorship policy. that's what i'm going the call it, its censorship point lauren, tell me what's happening? >> they're ending their fact-checking program admitting it has gone too far. here's ceo mark zuckerberg. >> we're going to get back to our roots and focus on reducing mistakes, simplifying you are to policies and restoring free expression on our platforms. more specifically, we're going to get rid of fact checkers and place them with community notes similar with, and -- similar to x starting in the u.s.

lauren: meta has lifted restrictions on speech. their new head of policy, joel kaplan, spoke about the company's evolution on "fox & friends." >> there's also no question that there has been a change over the last pour years. we -- four years. we saw a lot of societal and political pressure if all in the direction of more content the moderation, more censorship, and we've got a real opportunity now. we've got a new administration and a new president coming in who are big defenders of free expression, and that makes a difference. we're pretty focused on the future and the opportunity we have right now with the changes we're making today to really open up the space for debate, expression -- lauren: kaplan said elon musk has had an incredibly important role on getting people focused on free expression, and meta's goal, it's really about reestablishing trust for their 3.2 billion users across their platforms. trust social media. i spoke with him after his "fox & friends" interview, and he said, look, the company is so

excited to work with the trump administration because, quoting, president biden had no interest many dealing with ceos. often the tone was negative, and there was no opportunity. stuart: they're excited now. lauren the new world order, it's coming in a few days. [laughter] stuart: yeah, they know what's coming. thanks, lauren. come back, joe concha, please. did they only do this because trump is heading to the white house? >> that was one hell of a report by lauren, by the way. as revealing that biden, for example, was always negative if towards companies like facebook, didn't meet with ceos very often. and donald trump, they are bear hugging him as he comes in through the door, yeah. so the answer your question, stu, this absolutely is the donald trump effect and the elon musk effect per that report earlier. i mean, here we saw musk take over twitter two years ago, he bought e it, actually, if for $44 billion. it was very important to him on a personal level because of free speech and free expression and not censorship and suppression

of certain messages, especially when they came from the right or anybody that the the old twitter used to the disagree with. so now facebook, same deal. they're saying, okay, we just want to go back and do a exactly what we see x doing, twitter doing. obviously, they're now one of the most popular if not the most popular outlet as far as apps, as far as getting news, especially young people where they get their news. facebook sees that and they say, okay, imitation's the best form of flattery, we're going to do the same thing. it's the right thing the to do, stu. stuart: interesting to see them reveal this on fox and no place else. >> yeah. stuart: significant. it really is. all right, joe, moving on, nvidia's chief, jensen huang, gave the keynote address at ces conference. tell me what he said. lauren: he spoke for 90 minutes. i have abbreviated version. three big items. number one, get ready for physical a a.i.. this -- they have created a model to train robots and cars.

number two, the a.i. supercomputer that fits in your hand, it's called project digits.. yeah, they're putting a.i. in desktops and pcs. all a.i. and number three, new gaming chips. nvidia shares are higher. i mean, they could be, if gains hold, the biggest company in the world. stuart: there's some real revolutions in progress, aren't there? and we've got it all on the show today. let's bring in thomas hayes. you're watching the market for us. are jensen huang's comments going to push nvidia the new highs? >> i think so. you're familiar with the story of icarus are. the bad news is jensen huang is flying too close ott to the sun. the good news is his wings are not melting yet. the company's at $3.7 trillion, it wants to probably push to $4 trillion, that would be 8%. i think beyond then every semiconductor cycle, right now he has no competition. competition is coming. and as far as training the

robots and training the cars virtually, what could go wrong, right? versus having to put the cars out on the roads, you're putting it in a studio. we'll see what happens. but on balance, this is a positive thing for nvidia, probably pushes higher from here. stuart: most of the the people watching this program have some money in the magnificent seven, big tech stocks. >> that's correct. stuart: in a nutshell, give us your forecast for the magnificent seven in 2025. >> okay but not quite as good as 2024. why? earnings growth is decelerating. they're going to have 21% earnings growth this year, and the multiple has not yet rerated downward with. you compare that to the broadening of the rally, small caps are accelerating earnings growth from 8% to 2 1%. but you only pay 15, 16 times for that earnings growth versus the mag 7 you're still paying 333 times. same growth -- 33 times. same growth, where do you put your money, stu? if. stuart: the international

longshoremen's union and port if owners held a secret meeting haas night. a new strike is set to begin january 15th. what was the meeting about? lauren: well, they spoke on sunday, the union9 and the ports, to resolve the sticking point of the deal which is the automation issue at the ports. sources tell fox the union negotiates to add more people to automated facilities. that's in addition to the previous deal for that 62% wage hike over 6 years. so now it appears that they've ironed out the automation issue. formal talks will resume today in new jersey. if this deal is finalized, that strike the next week would be averted that would halt half of the nation's container volume. that's a big deal. already there are reports that major retarials from home depot to dollar general and the gap have started implementing contingency plans just in case. stuart: it's going trump's way. he doesn't want a strike. lauren: nobody wants a strike. we need automation. stuart: yeah, we do.

republicans have a tidal wave of security bills. we're going to the talk to wisconsin senator ron johnson. biden reportedly transferring 11 guantanamo bay prisoners to oman if to start new lives? why is this happening now? if we'll ask incoming trump border czar tom tom homan. he's next. ♪ we're jamming i want, that jam it with you ♪ where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management your best defense against erosion and cavities is strong enamel. nothing beats it. i recommend pronamel active shield because it actively shields the enamel to defend against erosion and cavities.

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xfinity. made for gaming. rewards members, get early access to an ea sports fc25 kit. visit xfinity.com/rewards. stuart: officials in louisiana facing criticism after new year's terror attack in new orleans. many say the city did not do enough to protect the city. gater tenny joins me now. --

garrett tenney. city is hosting the super bowl next month. what are officials doing to prepare for that? >> reporter: well, stu, state officials are now pushing to take on a much larger role many in securing do superdome -- the super bowl than originally planned in part because of a lack of confidence in city leaders who they sue as having fail -- view as having failed to secure and protect folks last year on -- week on new year's. state officials say they are confident that next if month that new orleans will be the safest place in the country, and that is in part because the white house will now be sending additional federal resources to help sure the super bowl. we are told the department of homeland security will now have a much larger presence than initially planned. if as those preparations get underway louisiana's attorney general is also ordering the state's bureau of investigation to conduct a full review of the security failures from last week. here she is earlier on "mornings with maria."

>> i think it's going to dissect everything that led up to this event, all of the planning, all of the organizational subdivisions and agencies and operations in new orleans that were involved or not involved that maybe should have been involved. i think we've got to look at the problems there holistically and see what kind of dysfunction is occurring and then fix it. >> reporter: the healing process here continued yesterday with the president and first lady coming to the town to offer their condolence on behalf of the nation. they stopped by the growing memorial on bourbon street to lay flowers and offer a prayer before heading to a church nearby where they met with some of the victims' families as well as two of the officers injured in a shootout with the suspect that ended his rampage. >> i know events like this are hard, the shock and pain is still so very raw. my wife jill and i are here to

to stand with you, the grieve with you, pray with you, let you know you are not alone. >> reporter: in addition to the super bowl, the department of homeland security has also now raised the threat level rating for mardi gras to the highest level, and they will be sending in additional resources to secure that event which is huge here as well. if stu? stuart: garrett, thank you. let's bring in incoming border czar tom homan p. you're planning to hold weekly white house press briefings. what will be in those briefings? i mean, they put the border right at the very center of the white house and the administration. what will you be doing in the briefings, a list of deportees? >> we'll be doing what the current administration isn't doing, varney, we're going to be transparent with the american people. we've said, president trump has said we're going to concentrate out of the gate on public safety and national threats. we want to tell the american

people exactly what we're doing, who we're arresting and how we're going about this. a lot of people are claiming, you know, mass deportations are going to be inhumane and racist. we're pointing to show the american people we know how to do this, and we're going if to do it the right way. we're going to be very tran parent and and let them know -- transparent is and let them know exactly what we're doing everything week. stuart: we have the first migrant caravan of 2025 making their way to the southern border. 2,000 migrants. i thought mexico was going to stop these caravans. are they not doing that? >> well, apparently not. we'll have to see what they're doing. you know, i don't know what discussions the incoming trump administration has had with -- [audio difficulty] representatives from mexico outside me. but bottom line is this administration will release them look, even after what happened in new orleans can and las vegas even though that wasn't somebody that crossed the border, they're still releasing thousands of people every day into this country.

they're releasing through the cbp-1 app, thousands from the if border patrol. [audio difficulty] they haven't changed courses at all. matter of fact, they're trying to sabotage the incoming administration. they're trying the sign policies every day that's going to affect our administration, right many so i just wish the transition would be smooth and be honest and let us do what they're going to do, but they're going to to put every roadblock up to make sure we're not successful. but we're going to be successful. we're going to do this job with or without 'em. they can keep sabotaging us, but we're going to to get this done. stuart: biden's going to release 11 prisoners from guantanamo bay. they were sent to man to, quote -- to oman to, quote, start new lives. why would we release these prisoners right after we had a terror attack that if new orleans? -- attack in new orleans? >> common sense tells you we wouldn't. i don't know if bind even made this decision. people in his cabinet probably did.

again, i don't understand, why did he commute death sentences for murderers? i mean, it just doesn't make sense, everything they're doing. the death sentences that he excited, the releasing terrorists back to oman, like that's going to keep them off the a battlefield, selling border wall pieces, signing policies for multiple millions of dollars, there's a lot of damage we've got to undo, and they're just adding to the list. as far as releasing the terrorists, i don't know how we endothat, but i think -- undo that, but i think it's a bad decision, potentially. i'm talking as tom homan,s i i think it was a terrible decision. and if why now? why did they wait four years to sell border wall pieces? they're doing a lot of damage in the last few weeks of the administration, and i just don't understand at all. stuart: it's deliberate. tom homan, you're all right. thanks for joining us, sir. see you again soon. >> thanks for having me, varney. stuart: you got it.

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stuart: dow expected to be up over 130 points at the opening bell, nasdaq up about 40. david nicholas joins us now to cover the market. can we expect this recent chip rally to continue after nvidia's very positive comments? >> yeah, stuart. there's an old saying that goes if it ain't broke, don't fix it. if you look, semis rallied on monday. i think they're going toally again. yeah, invid. >> -- end nvidia just hit an all-time high, i think yesterday. so i think it's where you want to be going into 2025, stuart. stuart: i know you like asml, i believe they are the company that makes the machines that make chips. you really like it, don't you? it's already gone up a lot. >> stuart, you're spot on. it's a lithographing machine maker. if look, this is the closest thing to a monopoly that we have. i don't know if you've seen

these machines, stuart. they cost upwards of $300 million. they're as big as two airbus a-20s. nvidia cannot get their chips without this a machine, so i think this stock is down 40% from its highs. if you want to put money to work in semis sector and want to own a different play, own the machine maker, asml, stuart. stuart: what can we expect from trump's inauguration? any kind of bump up for the stock market in. >> yeah, stuart, look, if you just see what happened with meta, you and lauren were just reporting on this. these big fortune 500 companies, they're checking their political ideology at the door. i think investors should do the same thing. meta if donated a million dollars, jeff bezos? if him and trump weren't exactly best friends. uber's donating $2 million. these company ifs want to get on the right side of the administration. i think you're going to get more

tax cuts talk, and this is what's going to drive, just wait until we get tax cuts. that ooh, i think, is going to add an additional 10 president earnings perrer -- 10%. stuart: does it help the stock price if the ceo is friendly with donald trump in. >> well, look at tesla. i mean, that stock is up 40 plus percent. i think other ceos are seeing this and saying, you know what? the tide is turning. we don't want to be on the wrong side of this for the next four years, so i actually think there's some correlation between those fortune 50 companies that support trump and their stock prices doing well in 2025. stuart: david, we've never seen anything quite like this before, at least i haven't, and i'm much older than you. david nick lags, thanks -- nicholas, thanks for joining us. look at that. well, there's the bell. in a few seconds -- he's itching. yeah, there you go. away we go with. the market is open and, yes, we have opened on the upside.

start with the dow jones average. it's up 150 points in the early going, and there's the dow 30, clearly dominated by winners. and nvidia are, by the way, has hit a new all-time high. it's in the middle of your screen right there. s&p 500, how's that doing? the that is up .39%, gain. and the nasdaq composite, i'm expecting a solid gain there, and we got it, one-third of 1%, up 69 points. big with tech, let's have a look. what have we got? alphabet, microsoft, amazon up. meta, down a fraction. apple down $1.49. let's pull out nvidia. they just released new gaming chips. this is important stuff. taylor, what can you tell me about these chips? >> so remember, this is the consumer electronics show. so they're trying to show us things that appeal to the consumer. we're getting new chips based on the same blackwell architecture, we know about that for a.i., but this is for desktop and laptop, pcs when it comes to gaming. they're partnering up with

micron where micron's making the memory for the gpus. if you're a big gamer, really like what you heard yesterday. stuart: i want to hear about uber partnering with nvidia because that, to me, is a very big deal. i've got a sliver of uber. >> yes. their partnering to to make autonomous driving a little bit better. uber has said they're going to be pairing the data they're getting from uber's trips with the nvidia platform to help make sure the a.i. models are working more efficiently. basically, western get better autonomous vehicles on the road given the data we're getting from these two companies. stuart: we've got all kinds of changes the free speech announced this morning by meta. including they've ended their fact-checking program. that's a very big deal. is that effective immediately? >> we think so. because with the new program that they're laying out which they're calling community notes, they say it will be rolled out in the next few months. we don't have a clear timeline yet on that new system.

remember last year i sat down with joel kaplan, longtime republican, ousted the former guy who was more of a democrat, right? this is sort of what we had been maybe waiting for. i think this is still very much big news, but it makes sense given dana white's now on the board of meta, right? stuart: yes, he is. >> long supporter of trump. would have a chief policy officer who's very much aligned with the white house. they've admitted this used to be a community where you'd go on facebook and instagram and it would include people. it's been very divisive especially when you're monitoring who can say what about what issue. they want to get back to their roots. stuart: i was fascinated to see that he's moving his trust and safety team out of california and they're going to texas. and then we've got amd. they've announced their own a.i. pc and gaming chips. tell me more. >> yeah. a lot going on at ces yesterday, right in a new a.i. finishes c gaming chip. this helps amd further compete

with intel, qualcomm for the gaming chips when it comes to desktop and laptop pcs. more games. stuart: google building a team for a new a.i. model. [laughter] coming tick and fast. what can you tell me -- thick and fast. >> they're trying to simulate the real world. i don't know totally about this. it's part of the deep mind group at google. i know, bear with me. what they're saying is they want to create a world, an a.i. world that simulates the physical world, the real world. so we'll have to see. right now i think of, like, a video game, right? a very interactive a.i. that simulates the real world, but this is bigger than that. stuart: they're using a.i. to train robots in cars -- >> yes. so we can have an a.i. world that directly simulates the real world. stuart: i think i understand that. [laughter] >> you might understand it better than i do. [laughter] stuart: my prompter says a downgrade for tesla. >> yeah. impacting the shares.

this is from bank of america. they downgraded to the a neutral from an outperform, but they raised the price target up to $490 from a 400, so they're still pry trying to play catch-up. investor sentiment has improved enough that they like the growth drivers like the robotaxis that tesla has coming down the pike. but some of that business execution risk is e high because, remember, elon musk has said he wants that machine to be better than humans. you've got to get that right. stuart: yes, you've really got to -- i'm just not onboard entirely9 with the robotaxi. >> no? stuart: no, i just can't. >> they're pretty cool. stuart: i'm an old guy. i'm not an early adopter. >> you want your horse and buggy back? stuart: get out of here. [laughter] then we have microsoft announcing a big investment in india. what's it for? >> $3 billion in inned ya in the next to two years, all on data

centers. -- in india. stuart: what are lofty expectations for a vaccine company? >> they're looking to get ten new approvals for vaccines by 2027. this would help the sales of existing drugs as well as they have a pretty good late-stage pipeline that they're looking at, again, trying to boost revenue. so, again, if they can get new approvals for things, it helps the pipeline. stuart: got it. we used to call this news you can use. mcdonald's launching a new mcvalue menu. what's on it, how much? >> the key news for me, i'll answer your question, it's national. so remember when i said last fall we were talking about how each franchise was testing out that $5 value meal, right, and you could do buy one, add one on option for an extra dollar? if mcdonald's now wants to make this national. they need a big, national plan like this because it's been tried and testedded and shown that it's worked at a few franchises. you get your $5 value meal, that's going to be national, and maybe the buy one, at one on for an additional buck, which is not

bad, maybe at all the mcdonald's coming out. stuart: that is a big deal. >> huge. stuart: i remember last week -- i was away, but i was watching the show. hindenburg, they went after carvana. the stock really tanked. what are they doing today? >> carvana has come out -- hindenburg research was criticizing the deal between carvana and allied financial. -- ally financial. ally financial is going to be buying what carvana is selling which is about $4 billion in car loan receivables, putting it off their books, giving it to ally financial. so, again, ally, according to this hindenburg report, was stepping away from that partnership. carvana coming out today and saying the partnership very much on. stuart: the market is open and we're in the green pretty much across the board. taylor, thanks very much. coming up, listen to what trump had to say about biden banning offshore drilling. >> it's ridiculous. i will unban it immediately.

i have the right to the unban it immediately. what's he doing? stuart: well, will it be easy for trump to unban it? bret baier will join us on that subject. senator adam schiff not ruling out investigating trump during his second term. >> a lot will depend on how he chooses to govern. if he abuses his office, we will vigorously push back. stuart: are democrats gearing up for more lawfare? tennessee senator marsha blackburn responds to it all. she's next. ♪ i can buy myself flowers, write my name in the sand. ♪ talk to myself for hours, say things you don't understand ♪

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stuart: plenty of green in the first 12 the minutes' worth of to business. the dow's a up 18ing 0. a very small gain for the nasdaq, it's up just 3.

canada's prime minister, justin trudeau, has announced his intention to resign. edward lawrence at the white house for us. what's president-elect trump saying about this? >> reporter: you can imagine, stu, he has has a lot to say. president biden believes that justin trudeau resigned because of his own internal pressures. the white house press secretary saying that president biden sees justin due doe as a good friend to the united states -- justin trudeau. on truth social, president-elect trump says the u.s. can no longer suffer massive trade deficits and subsidies that canada needs to stay afloat. he adds that trudeau knew this and resigned. there was an internal debate in canada of how to respond to the threat of 25% tariffs on decade kwan goods, and that led to the resignation of the deputy prime minister, and now the prime minister is resigning. >> canadians deserve a real choice in the next election, and it has become obvious to me with the internal battles that i cannot be the one to carry the

liberal standard into the next election. >> so at least one conservative premier believes that the resignation is a result of more than that. she thinks it's a public shift mirroring what the united states is going through. >> but with the wokism, with the extreme environmentalism, with the punitive approach to taking to anything from mining the all the way through to the development of oil and gas, excessive carbon taxes, making life more unaffordable, spending like mad, speeding the increase in inflation, i think we've had parallel experiences over the last four years and, quite clearly, canadians had enough of it. >> reporter: so china also making moves ahead of a trump administration, adding more american companies to its expost port -- export control list including boeing defense and lockheed a martin. the president-elect saying he might add 60% tariffs. and those tariffs forced china to sit down and make that phase

one trade deal in the first trump administration. back to you. stuart: we remember. thank you very much, indeed. economist e.j. antoni joins me now. trudeau out. how do you see this tariff showdown with canada shaking out, e.j.? >> oh, city -- stu, i see it working out very well for the american people because we're going to have donald trump at the helm. anytime if he was negotiating on our behalf in the first trump administration, i think things worked out well for the american people. what he's about when it comes to international trade is getting the best deal possible for the american people because they are the ones he represents. look, it's not that he's out, you know, to hose the rest of the world here. it's not that he's out to do economic damage to places like canada, he's just trying the get the best deal possible he can for the american people, again, because that's who he represents. and when it comes to dealing with a nation like canada, trump understands that he holds all the cards. he has all the leverage here because he understands he can wield the american consumer's

purchasing power as a kind of financial weapon on international stage when almost all canadian exports are coming here to the united states and if only a few percentage points of our exports are going there. again, it's very clear who holds all the leverage. stuart: "the washington post" reports that trump will only impose tariffs on critical imports. now, that's a switch from blanket tariff policy. it's a big change. now, trump denies this change, but is it -- if the policy went through, is it best for the u.s. economy? >> well, institute, it depends on -- stuart, it depends on a lot of different factors some of which have to do with upcoming legislation. and i think that's one of the reasons why the incoming president keeping all of his options open. in other words, everything right now i on the table whether that's a blanket tariff or more, let's say, strategically placed tariffs. look at something like the tax cuts and job act which is boeing to be expiring soon. if -- going to be expiring soon. if that does expire, you are

going to see a massive tax hike on the american middle class, so it's imperative that the incoming administration works with congress to ensure that they extend that tax relief to the american middle class. but they're going to need some, quote-unquote, pay fors in order if to do that. one option might be to impose a small blanket tear i have -- tariff. in other words, we're going to shift some of that tax burden away from income taxes and onto imports. that's one option. again, this is why i think the president needs to keep his options open. there are just too many unknowns. and so to answer your question what's going to be best for the american economy, it's going to the depend on what we see in the coming months. stuart: we have to trust president trump to get the best deal possible for america. that's the bottom line here, because it's a -- tariffs are a work in progress, right? >> oh, absolutely, stu, 100%. and, again, how we're going to impose those tariffs, what kind of tariffs we're going to impose, a lot of that depends on what what we see in the coming

months and years. and if i think given trump's success in his first term, we have good reason the trust him that he is going, to as you said, get the best deal for the american people. stuart: e.j., thanks for joining us. thank you, sir. let's change the subject. donald trump jr., he's talking a trip to greenland. the president-elect, that would be donald trump, he wants to take control of that territory. what do we know about that trip? if rah. lauren: it's not official business, but he will talk to people there as his dad escalates his desire the acquire the autonomous danish territory. the president-elect writing i am hearing that the people of greenland are maga. my son, don jr., and representatives will be traveling there to visit some of the most magnificent areas and sites. the people will benefit tremendously if and when it becomes part of our nation. we will protect it, cherish it from the very vicious outside world. so what we do know is greenland is very mineral-rich including the rare earth minerals where

china mom dominates, and that is one reason why trump might see it's needed for national security. stuart: it's absolutely vast. >> lauren: test yes, huge. and its -- pronunciation, insure, the capital. [laughter] stuart: the administration's bringing in a new form of government. this is my opinion. it's run by business people, not politics. in short, the trump team is trying to bring the efficiency of private enterprise and biden, again, my opinion, should get out of the way. that's my take, top of the hour. of. the fight between nippon and u.s. steel is only just beginning. the companies say biden violated the constitution by blocking their merger. a full report on that is next. muck waiting, waiting on the world to change. ♪ we keep on waiting, waiting on the world to change ♪

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♪ ♪ stuart: ah, the fight between u.s. steel and nippon steel and the administration, it's only just beginning. lydia hu in pittsburgh for us. what's u.s. steel's competitor, cleveland cliffs, what are they saying about this? >> reporter: well, the cleveland cliffs' ceo, lorenzo

gone sal stress, he says he saw this lawsuit coming, and he's fully prepared to defend himself in court. he did not the discuss directly the merits of the accusations which are that cleveland cliffs conspired9 with the union to block the sale of u.s. steel, but he did talk about whether he would make another bid himself to buy u.s. steel. recall that cleveland cliffs offered $54 a share in a cash and stock offer to buy u.s. steel, and that competed with nippon's $55 per share offer, all cash there. well, gonsalves says that's off the table, he's not going to revisit. >> new york i'm not. i'm not if. the situation has changed. the backdrop of the market changed. we have a new president coming to town, and tariffs are coming. what they're trying to do is --

[inaudible] >> reporter: and now we see u.s. steel and nippon, you know, filing these lawsuits against the government, against cleveland cliffs, against the union in a last ditch effort to try to save their deal. gonsalves says to him this deal is dead. listen here. >> look, at this very moment the deal has been legally blocked. and i don't see how this deal can be resuscitated. keep in mind there's -- tony blinken is in japan right now eating sushi in japan. very soon in his position we're going to have marco rubio. >> reporter: and gonsalves, he might be right there because senator marco rubio, of course, is trump's selection to be secretary of state. and recall that rubio opposed this deal between u.s. steel and nippon. he was among the first group of lawmakers to raise concerns,

calling on secretary yellen to do her work and cfius to block in this deal. and that may not if work well as they try to revise this deal even as nippon's executives say they remain committed and laser focused on trying to close this deal and buy u.s. steel. we're going to foil. stuart, back to you. stuart: thanks, lydia. check markets real fast, please. dow's up nearly 200 points, the nasdaq's up 32. still ahead, wisconsin senator ron johnson has more on republicans' sweeping border plan for trump's first day in office. bret baier reacts to trump vowing to undo biden's offshore drilling ban. senator adam schiff will not rule out investigating trump while he's in office. tennessee senator marsha blackburn are will be here on what may be the return of the democrats' lawfare. and and biden administration promising a jam-packed final go weeks. we're going get -- two two weeks. is what it could mean for blocking trump's agenda.

will cain on that. the 10:00 hour is next. ♪ oh, yes, it's ladies' night, and the feeling's right -- ♪ oh, yes, it's lady' night ♪ work..