get to the goats seeking shelter from the rain. the good news is they got their goats. get it. i will be in all weekend. here is trace in for shep. >> trace: a wild day on wall street, the dow reacting as the show down the two largest economies. we are monitoring the market as china threatens to fight back at any cost after president trump said he might slap an extra billion dollars in tariffs on chinese goods. plus, the daily briefing anchor dana perino sat down with facebook executive sheryl sandberg as the social media giant deals with a privacy scandal. what does cheryl sand beg have to say about how facebook handles personal information. i will ask this hour during shepard smith reporting ♪ >> trace: i'm trace gallagher in for shepard

smith. china warns it will counter attack with great strength if president trump follows through on his threat to slap even more tariffs on chinese goods. the white house saying moments ago that president trump still believes the u.s. would win a trade war but doesn't want it to come to that. the president doubling down on his plan to impose $100 billion in tariffs on top of the $50 billion in tariffs his administration already proposed. china threatening to strike back with taxes on everything from american cars to soybeans. president trump called into a radio show this morning in new york city and said all of this will make the united states better in the long run. >> the easiest thing for me to do would be just to close my eyes and forget it. if i did that, i'm not doing my job. so, i'm not saying there won't be a little pain. but we're going to have a much stronger country when we're finished. that's what i'm all about. we have to do things that other people wouldn't do. so, we may take a hit and,

you know what? ultimately we are going to be much stronger for it. >> trace: president trump facing some opposition in his own party. republican senator ben sasse of nebraska said, quote: this is nuts. the national retail federation released a statement telling the president to stop playing a game of chicken with the nation's economy. a live look now at the dow. the markets have been down all day long. and the losses accelerating within just the past hour. you can see the dow is down 723 points. let's get to the chief white house correspondent john roberts. he is live for us on the north lawn. john? >> trace, good afternoon to you. where the dow really fell off the cliff was a little bit earlier this afternoon. the treasury secretary steven mnuchin was on one of the business channels and asked about the potential for a trade war. look, this whole tariffs idea is not designed to ignite a trade war, but there is always the possibility of a trade war. that's when nervous investors who are already seeing the indexes down

about 350 points deciding, you know what? it's friday. i'm out of here. that's why we see the market down more than 700 now. we just had a pen and pad session on the record with the president's new chief economic officer larry kudlow. i asked larry kudlow about what the treasury secretary said about the potential for a trade war. kudlow said any foreign policy could go awry. he didn't expect that would lead to a trade war. this is not a bluff by the president. the president said the notion of a trade war is the wrong way to look at this. the issue should be how long china has been getting away with what it's been getting away with, according to the president, and the effect that that has had on the united states. listen here. >> we already lost the trade war. we don't have a trade war. we have lost the trade war. now it's $500 billion in deficits. and, a theft of $300 billion in intellectual property.

>> trace: now, when you look at what's going on in the markets today, it really have a reaction to the possible, not to the what's happening. but the markets have always ban leading indicator. because larry kudlow stressed to us in this on the record pen and pad session that this is just the beginning of a months' long process. and that there are all sorts of back channel negotiations going on between the united states and china, which could alleviate the idea of tariffs being imposed. livable to what larry kudlow said this morning on the white house north lawn driveway. >> president trump says enough is enough. now, we're not running a trade war. if you read the thing, you will see this is just a proposed idea, which will be vetted by usdr and open for public comment. nothing has happened. nothing has been executed. i read about how -- there is no there there yet. but there will be. >> there will be. he said that the president would impose tariffs if china doesn't change its behavior. but, kudlow also said that

he hopes that at the end of this month's long process it's got to go through a discussion period, question period. and then through an assessment period. so it could be months before tariffs are imposed. he says he believes at the end of that process there is a chance that tariffs may not be necessary. but, he also added that china cannot be allowed to get away with what it has been getting away with anymore that the u.s. has backing of its major trading partners in going after china, which brings us back around to this idea what about what the treasury secretary said that there is the potential here that this could all go wrong and ignite a trade war? i put that question to the press secretary a short time ago. >> steve mnuchin, treasury secretary said well, it's not intended to. this could ignite a trade war. how concerned is the president that this could tip the balance into a trade war? because the stock market took a look at that statement and didn't like it at all. >> again, this is something that china has created and president trump is trying to fix it. and we are moving forward in that process of trying -- we

are going to continue putting pressure on china to stop illegal and unfair trade practices that they have continued in for decades. >> is he willing to fight a trade war on this? >> we don't want it to come to that the president wants us to move to a process of fairness, to free and fair and open trade. >> just as our session with kudlow was wrapping up this afternoon, i asked him who is in better position to weather a trade war should it come to that. when you look at the fact that china's debt is 317% of its g.d.p., it's got to rely on a robust export market to keep its booming economy afloat. larry kudlow suggesting that the u.s. is in a much better position to weather some sort of tariffs on exports than china is which is why ultimately, trace, the white house believes china will come around to some sort of negotiation. larry kudlow also said there may, answered underscored may soon be a list that the united states delivers to china to say if you will want to avoid all of, this here is what we want you to

do. trace? >> trace: a little negotiation, john roberts live for us in the north lawn, john, thank you. let's bring in gerri willis. really, another rough day on the market. we are looking at 735 points down. john roberts was alluding to the fact that there is no trade war in place right now. i know the markets are always forward-looking but wow, 740 points on the prospect of a trade war. >> that's right. keep in mind here, that just because these promises of tariffs haven't gone into effect that doesn't mean that prices in the market don't change, right? because it gets ahead of the talk from the politicians. you are looking at that market now down 750 points going down an additional, say, 300, 400 points. since about midday. john roberts had this exactly right. the federal reserve chairman saying he is unsure. this was in response to a direct question to him from reporters. is he not sure of the impact of a trade war on the feds' economic outlook. what does that mean? let's just pars that a little bit more. that means that we could

actually have more interest rate hikes than we are anticipating and we are anticipating three. we have already had one. that makes traders sit back and think about the impacts of more interest rate hikes on the markets generally. let me tell you a little bit about the stocks that are down today. cater pillar, boeing, those are two stocks that get killed in this conversation about trade wars. why? because they have such a large proportion of their sales overseas and in china. those are stocks that really get hurt. i want to talk a little bit about how we started of the day. prior to this afternoon sell off, we were down about 320, 340 points. that was on trade war fears. absolutely. so, china telling us we will immediately fight back. we have no other choice after the president said he was going to institute $100 billion of tariffs on chinese goods coming into this country. china saying we have to do something. we have to react. so, every day the tension in this conversation gets a little more intense. a little higher, and stocks

are not reacting well, of course, it is friday, so, any bad news, professional traders don't like to hold those stocks going into the weekend. trace, back to you. >> trace: yeah, gary willis fro --gerri willis. the dow is down 735 points. we clearly see how this is playing in the market. how is it play playinglying the prospect of a trade war. >> this guess back to the question john roberts asked larry kudlow, who is better prepared to deal with a trade war? you know, you can see a lot of people that you would think would be supportive of president trump cutting and running already ben sasse the republican senator from nebraska saying that this is nuts. obviously, is he concerned about agricultural exports. a lot of the leading trade organizations. tech organizations saying that they are very troubled

by this idea. you don't hear that same kind of dissent in china, obviously it's an authoritarian regime. and there are a lot of things that president xi, who is president for life can do. he is not worried about november. a lot of things he can do to try to shield chinese businesses, to shield chinese consumers by government intervention that president trump can't do. so, there are real questions as to if we do get into a trade war, which country can maybe not better economically but better politically withstand it? >> trace: yeah. and it's a who blinks first kind of scenario, chris. i know you are going to have a larry kudlow on fox news this weekend. he said look, we should blame china on this. and the president is saying the same thing. you are saying maybe the president is getting some push back, but it doesn't appear to me like president trump is going to let down his guard on this or back up at all. >> well, we will see. you know, you have a few more 700-day drops in the stock market, how much stomach does president trump

and the people around him have? and remember, you talk about politics. republicans were hoping to run in november based on a strong economy. and the benefits of the big tax cut in december. you start seeing this kind of thing, even before any of these tariffs and john roberts is quite right. the tariffs have been announced. they haven't been imposed, it will be at least a month before they are imposed. if you start seeing the impact this is going to have on the markets, and potentially on growth, you can be sure a lot of republicans are going -- who are already worried about the mid terms in november are going to go to death con one. >> trace: there is room for negotiation. the dow a little bit of a recovery down just below the 700 point. >> i have got to say. that is really a glass half full interpretation to say that's a recovery. yeah, i mean, it could play out over time.

but, remember, this is why people like gary cohn, who was the -- larry kudlow's predecessor as top economic advisor in the white house thought that this was just a terrible idea he said nobody disagrees with the idea that china has been cleaning our clock and stealing intellectual property, all kinds of bad things, but there were a lot of top economic advisors to the president who didn't like the idea of tariffs and said there are other ways to bring them to the table to try to get them to negotiate fair trade with the chinese without going into this. first it was the billion dollars he decided last night the president announced tariffs on another. and potentially another $100 billion in chinese tariffs. he escalated. and the chinese going to come right back. you get closer and closer to the border. and both sides are saber rattling, somebody is going to get hit with a saber.

>> yeah. somebody is, crist. chris.i want to get your take inside white house business. we have been hearing about scott pruitt. the whole condo 50 bucks a night. what do you make of the chief of staff john kelly is pushing for scott pruitt to go? >> i'm sure they have good sources. and i wouldn't be surprised if kelly wants him to go. the question then becomes how much clout does kelly have? because it seems more and more that president trump is making decisions without consulting his chief of staff who really put some blinkers on him for a period of time and very much controlled what was going on in the oval office. but president trump, as he always seems to, decides he is the one whose name was on the ballot. he was the one who was elected he is going to decide what is he going to do. so, you know, john kelly, i think, only has limited clout in this area. the real decision for the president, he is the only one who is going to make this is on the one hand he likes scott pruitt, he has

pursued the trump agenda when it comes to rolling back environmental regulations. on the other hand, the president seems to have very little patience with, as the man who talked about draining the swamp, with swamp like behavior when you are talking about sweetheart deals or raising, you know, for the $50 a night house in the condo. or other arrangements that have been made. now there is a new story in the "new york times" that scott pruitt wanted to have his motorcade put its alarm on and go through red lights and go through traffic when he wanted to go to his favorite restaurant. that's not the kind of thing that's going to set well with this president. >> trace: no. we should note the president met with scott pruitt today there was no talk, we're told about the job front. chris wallace, "fox news sunday" anchor. >> you bet. >> trace: this sunday chris talks with the new white house economic advisor larry kudlow and democratic caucus

congressman joe crowley from new york. that is this sunday on your local fox station. the dow down 647. the trump administration imposing new penalties against moscow as well. we will get to that and more comingur up on shepard smith reporting. in drug stores nationwide. prevagen. the name to remember.

down 750 at one point. key will keep watching it appeared bring you updates

throughout the hour. there is other news out there including the white house unleashing more sanctions against moscow for what it describes as destructive activity, including meddling in the 2016 presidential election. the trump administration officials announced punishment against dozens of government officials, companies, and businessmen with ties to russian president vladimir putin. but white house press secretary sarah sanders says president trump still wants to have a good relationship with russia. rich edson is live for us at the state department. rich? >> good afternoon, trace. they even got vladimir putin's son-in-law, he is an oil executive. he married putin's daughter in 2013. the treasury department says shortly thereafter he became a billionaire. he is reportedly since divorced putin's daughter. but he is still on this sanctions list. treasury department has a list it says of seven russian oligarchs. 12 companies they own or control and 17 senior russian government officials that include one of the world's largest aluminum producers and top oil and gas executives.

the treasury secretary steve mnuchin says in a statement quote the russian government operates for the disproportionate benefit of oligarchs and government elites. russian oligarchs and elites who profit from this corrupt system will not longer be insulated from consequences. >> freezes assets as well. that's a problem for a number of these russians who have significant assets in the west and in the united states and in london. the russian embassy here in the united states has just responded according to russian state media saying, quote: the united states has made quote anotherrer reason newanothererroneous step. the u.s. announces these sanctions after diplomats were kicked out of russia returned to washington. that's in response to the u.s. expelling 60 russian diplomats because of that u.k. poisoning case. so back and forth we go.

trace? >> trace: back and forth. rich edson live for us at the state department. keeping our eye on the dow over there talking about wild swings. in the last 15 minutes there have been 100 point swings down 668 now. at one point it was down 750. very tough day for the dow jones. we will keep you updated, of course, throughout the hour. plus, the u.s. military making moves after president trump ordered national guard troops to help secure the southern border. the pentagon now announcing plans to create a 24/7 support team. that and what we know about how many troops could be heading down south is coming up. ♪k ♪ and other parts of south america. like these mountains, each amazing on their own. but together? magical. all, for a smoother tasting cup of coffee. green mountain coffee roasters. a cockroach can survive heresubmerged ttle guy. underwater for 30 minutes. wow. yeah.

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♪ >> trace: another live look at the dow recovering from its lowest level but still down significantly, 4 or 643

points. it was down at one point 750-plus. we have a comprehensive update coming up at the bottom of the hour. first, president trump has said he may send 2 to 4,000 national guard troops to the southern border. and the white house says that could be just a starting point. >> it's going to be as many as it takes. we are looking at what that needs to be. and we're going to move forward in the process. the president thinks that's a good first step to have 2,000 to 4,000. if we determine that we need more, we will make that decision. >> trace: pentagon officials have also said they will establish a border security support cell which will be manned 24/7. national security correspondent jennifer griffin is with us at the pentagon. jennifer? >> trace, defense secretary jim mattis was just asked that very question at an honor court here at the pentagon. when will those national guard troops be in place? he did not provide any new details about timing. >> we are looking at how we can best provide the support to the department of

homeland security. we'll figure it out and it will be consistent with law and the spirit of congress. no problem. >> the president wants 2,000 to 4,000 national guard to remain along the border until the wall is built. that could be a long time. the acting deputy director of the border patrol said this morning they are planning for the surge in troops to last until the end of next year. there is little chance the wall will be built by then, given that congress did not provide the $25 billion needed to build it. white house press secretary sarah sanders was asked whether governor jerry brown of california would agree. browne has deferred to the california national guard. >> we will continue moving forward with the other border states. we are working with states' governors right now to go through this process and we hope to have national guard on the ground as soon as possible and we'll continue to work with california and we are hopeful that they will do the right thing and help protect our borders. >> the guard will be in a

supporting role, we're told. it's not clear that they would be armed. they will help build roads, provide surveillance, help with communications and do vehicle maintenance, according to the defense department spokesperson. attorney general jeff sessions just notified all u.s. attorneys offices along the southwest border of a new zero tolerance policy for those attempting illegal entry into the u.s. quote, the situation at our southwest border is unacceptable. congress has failed to pass effective legislation that serves the national interest. that closes dangerous loopholes and fully funds a wall along our southern border. so far no reaction from the aclu and other rights groups and it's not clear what the attorney general's message means in real terms. trace? >> trace: jennifer griffin live for us at the pentagon. jennifer, thank you. let fption bring in jonathan swan, is he a national political reporter for ax zos. jonathan, you hear 2,004,000 troops going down along the border. he is going to keep them there we don't know what their job is yet. he plans to keep these men

and women down there until the wall is built. he got 1.6 billion in the budget for the wall. he needs 25 billion. they could be down there for a while. while. >> they can be. and the reason that trump is seconding them reflects more than anything, you cannot emphasize enough how frustrated he was and actually shaken in some ways by that spending bill that he signed. sources who have spoken to him say that at the time they didn't think he really processed exactly how bad this is their terminology this bill was. it was only when he actually watched the coverage and saw conservative allies of him on fox and other networks tell him through the television what a terrible deal this was, that it really sunk in. he obviously threatened to veto it. he ended up signing it and, he is now just looking to see whatever he can do through the executive branch without congress to strengthen the border. and this move by sessions is

actually pretty important. it means that if you cross the border now, you know, you are going to be prosecuted. that's the order. it's a big deal. >> trace: yeah, it's a lot of words. but, you know, we are down here on the border and really in reality, it is nothing but words. because you can't process these people. you come across the border. the backlog in these immigration courts is phenomenally long. so when he says yeah, you walk across the border, we're going to prosecute you. yeah, well, it's for the most part not going to happen, which is why we have gotten into this whole catch and release thing. we bring these people across, we give them a court date, they go and never come back. really what jeff sessions is trying to work for here, jonathan, some type of a deal. they know the budget might have been bad. they need to forge some type of deal to really secure the border. >> the deal is a separate -- i sort of disagree. i think the deal is a separate issue. actually, the way it's been explained to me by someone who has followed this very closely this was tried under

george w. bush on certain sections of the border. it could actually be done pretty quickly. you bring them. in currently what happens is basically no consequences. you described it correctly. border patrol detains them. they check a thing saying it's basically voluntary deportation effectively, they leave. there is no real mark on them. this time if they get deported they have a criminal record. if they come back in again, it's a felony. that has real consequences. more likely to be prison sentences. so, i think we're too quick to say it's nothing. i'm not saying it's going to transform the world and change everything on the border. it's clearly not. clearly the wall and these other issues are much, much more important. what happened today is not nothing. it is actually fairly significant. >> trace: and i have got to go quickly here, jonathan, what do you think the next step in this? if we in fact do get 2 to 4,000, politically very quickly, what's the next step when these national guard proops are actually along the border? >> well, again, your correspondent said, i don't

know that they are going to be as people imagine them with their weapons on the border. what this is -- from what i understand, is supporting resources because, if they are going to be prosecuting every person that crosses and, you know, obviously that's a big tbd. they are going to need more resources. this should be seen as additional manpower to help out. >> trace: jonathan swan, national political reporter for axios. jonathan, thank you very much. >> thank you. >> trace: well, meantime take a look down at the board. the dow is down a little bit more, 692 a major dive today as investors react to all this talk of potential trade war with china. but the drop also comes on the heels of a new jobs report. the latest numbers from the labor department and more market reaction is coming up. ♪

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least 7 palestinianian protesters along the gaza border today according to palestinian officials who also report more than 1,000 others are hurt. [chanting] >> palestinians chanting as they roll out tires. they lit them on fire, reportedly to send up black smoke in an attempt to block the view of israeli forces. israeli troops also firing steel gas, steel pellets and water canons. here can you see some of the smoke. this is the second major protest against israel in the past couple weeks. israeli military spokesman calling the protests riots. he claims the terror group hamas is using to insert terrorists into israel. reuters reports hamas spokesman is calling on protesters to keep things peaceful. these protests not as dell deadly as last week when 20 palestinians died. we'll be right back.

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story. the dow down 650 points. that's bad. it actually was worst. if you just joined us, it was down 750 at one point. the markets also reacting to a, well, a somewhat underwhelming jobs numbers. right in the jobs numbers were not great in this report. according to the labor department the u.s. added 100,000 jobs in march. that's half as many as the economists expected. the unemployment rate though held steady at 4.1% for the sixth month in a row. that is the lowest it has been in 17 years. the fox business network senior correspondent adam shapiro is live for us in washington. adam? >> trace, the job number that you mentioned 103,000 created, that was a miss in the eyes of not only analysts but investors. look at things like the unemployment rate 4.1%, it held steady because the participation rate. actually fell by 158,000 people. and one of the issues that we hear in regards to this is that that prime working

age group, men and women between 25 and 54, they are not coming back into the workforce at the same rate as other age groups following the great recession. now, the other thing that is on the minds of investors, not just this jobs report, but it's china. and not only the imports that we get from china but the exports that we send to china. and you have the president who tweeted that perhaps he'll ask the united states trade representative to actually add an additional $100 billion in tariffs on chinese imports. that's just a possibility that the president has not gone there yet. but it's the kind of thing that worries investors, especially because they don't know how that will impact overall on the economy. the federal reserve chairman jerome powell was speaking in chicago within the last hour. he was asked specifically about the impact of tariffs and a trade war with china. and here's what he said. >> people really don't see yet any implications in the term in term for the outlook because we don't know the extent to which the tariffs

will actually come into effect and if so, you know, how big will that effect be and what will the timing of it be? it's too early to say. we did hear from a number of business leaders around the country that changes in trade policy had become a bit of a risk to the medium term outlook. >> now, of course, the federal reserve has no say when it comes to tariffs. they do have a lot of say when it comes to interest rates and the federal reserve chairman reiterated their gradual approach to raising those interest rates over a long period of time. back to you. >> trace: adam shapiro live for news washington. thank you. let's bring in mark rosenberg the co-founder of in the 90 seconds that adam shapiro was on 640 down in the 500s and back to 628, the wild swings. this thing is amazing. but, to the point, in this trade war, prospect of a trade war, president trump's got to believe he has got

the edge here. >> i think. so i think economically the united states has had an advantage. >> right? china's trade is more dependent on the united states. i think secretary mnuchin is right there are other buyers of u.s. debt if the chinese decide to play that card. schins politically better placed. they are authoritarian country. they don't have to deal with the senators. or voicing opposition. the chinese president xi can effectively do what he wants in terms of trade policy whereas trump does have to listen to constituents. >> trace: it's not as if the chinese economy is going gang busters, there ask not eternal push back because he is not going to be in office for life. >> right. >> trace: they have to think about the economy over there as well. >> they absolutely do. as a result ultimately this will end up in negotiation and stabilizing over the near term. but in the meantime you value lot of bombast and rhetoric and will continue to drive the market and wild swings like we are seeing right now. >> trace: isn't this the

start of the negotiation? i know we are making hard line numbers. 100 billion here, is this not the start in your estimation of a negotiation or is it down the road. >> it is a volatile way to start negotiation. there are set precedents to conduct trade negotiations, rules in the united states many in ways created. we are not following those rules. we are taking to twitter and making announcements and theying making announcements bag. two actors used to making announcements and not necessarily following through. as a result the chinese government and the trump administration, have you high uncertainty about what is actually going to happen. >> trace: we are in the 500s for the first time in over an hour. that's a little bit of good news there. you think 30 days is the benchmark, the number here before we will know what the markets are going to say about this. >> i do. that's what our indicators say. our trade risk indicator for the united states is up 11% since the election. we see that stabilizing over the next 30 days. and that's because, according to our data that's generally the time we should see the noise become real,

right? negotiations actually start, people sitting down the back channels becoming more transparent. but, in the meantime, i think all this noise is going to rattle the market. >> trace: remember when the dow would go up 20 and down 18? >> those days are over. >> trace: mark rosenberg good of you, thank you, sir. >> thank you. >> trace: dana perino sat down with sheryl sandberg. we will talk to dana about her interview coming up next. ably narrow fast food drive thru lane. but what a powerful life lesson. and don't worry i have everything handled. i already spoke to our allstate agent, and i know that we have accident forgiveness. which is so smart on your guy's part. like fact that they'll just... forgive you... four weeks without the car. okay, yup. good night. with accident forgiveness your rates won't go up just because of an accident. switching to allstate is worth it.

>> we know at facebook we did not do enough to protect people's data. i'm really sorry for that mark is really sorry for that now we are taking strong action to get ahead of the problem. this is a long process we are going through in systematically looking. we expect to find more. just like we did this week. we will proactively come out. we're going to fix the problems. >> trace: that was facebook chief operating officer sheryl sandberg. she just sat down with dana

perino to talk about the growing scandal at the company. despite what lawmakers might hear from mark zuckerberg. he is set to testify on capitol hill tuesday and wednesday. lawmakers say they want to know how a data firm tied to the trump campaign accessed private information from nearly 90 million facebook users. that firm cambridge analytica. facebook has made changes to its privacy settings since the story broke last month. but federal regulators are investigating the company's policies. and don't forget, this comes after the company admitted that russian backed trolls were able to manipulate the platform during the 2016 election, to help prevent that from happening again. facebook just announced a major policy change. sandberg told dana from now on only authorized advertisers can run issue ads on the platform like ones about politics. let's bring in dana perino, she is the daily briefing anchor and co-host of the five. she is live near facebook's

headquarters in california. dana, i was watching a little bit of this interview with you and sheryl sandberg at the top of your show at 2:00. a lot of i'm sorries from sheryl sandberg to me was not overly surprising but she seemed like this company is beginning to be contrite. >> yes. i think a lot of people in washington, d.c. look to silicon valley and see a lot of arrogance, that's not what you are hearing this week from mark zuckerberg and sheryl sandberg who has done a series of interviews leading up to testimony next week. when they wind up in front of congress, you know how who he boating republicans and democrats when there is a big hearing like this. you can imagine you take somebody like mark zuckerberg who has idealistic view of the world and it is sincere and match up against republicans and democrats who are loaded forebear against this company, against big tech. and they are starting to look at all the things that they might consider levers that the government can pull to try to deal with this

issue. they have a big problem on their hands. i think that the other reason that they keep using the word sorry and responsibility and she said there could be more to come is that they don't exactly know what is out there. but they anticipate that they there probably could be more that they are going to have to reveal. they don't want consumers to be surprised by that. >> trace: yeah. i want to play a few parts of the interview. let's begin with part of today's announcement that cheryl sandberg said. play. this. >> what we're announcing today is that if you are running, not just an election ad, so you are a candidate. you are running an issue ad and we are going to publish a list of issues. we are going to verify how are. you are going to have to tell us your location, your identity. if you won't till us that or we don't think it's correct, we're not going to let you run. >> trace: yeah. because the cambridge analytica thing that was the big whale, right? everybody said oh my gosh, 90 million. facebook has known this has been going on, dana, for years and years, back to the obama campaign. they manipulated a lot of the user information during that campaign as well. so, facebook is known this

has been going on for a while. we finally got the iceberg instead of the tip in this latest round with cambridge analytica. >> right. i think one the things that the trump campaign would say is look, we are being criticized for using facebook to our advantage but that's what every campaign tried to do. when president obama did it, it was seen as very pioneering and very smart and it certainly helped lead him to a win. it just so happened that republican campaigns ended up catching up so that then there was a level playing field but the democrats would say that cambridge analytica and this russian influence is what actually really helped president trump win. i don't think there is actually somebody here who believes that there was a single ad from a russian that ended up changing any particular mind. now, it might have reinforced feelings, but they are actually being very careful to not say that either because i think when they get in front of congress next week you will have so many members of congress all over the map. everyone that i talk to has very strong feelings.

very angry at facebook but for so many different reasons. they have to prepare for everything next week. >> trace: yeah. and i want to play -- you mentioned russia meddling. i want to play this sound bite on russia. play. this. >> how far back does it go? did facebook know in the fall of 2015 that it had a problem with russians trying to influence the election? >> we learned about this late. we did not know -- we did not know then. we had seen some early activity. we had published some stuff but we didn't understand the gist of it, now we do. now we are taking action. >> trace: did you get the feeling in this interview, dana, that facebook is being very forth right now, now that they have got their hand caught in the cookie jar a couple of times? do you believe they are being forth right and contrite? >> dana: well, i think one of the best things that you can say if you don't know is that you don't know. and i think that there will be some push back from at least democrats on the committee next week when they testify that this time line is very important.

when did you know? and obama administration officials. when did they let facebook know. when did facebook let the government know? that time line will be very important to establish when they knew thought russians were drying to influence the election and the next follow-up question is why didn't you do more then? facebook's answer is we are sorry for all of that, this is what we are doing now. they are trying to very much look forward. congress doesn't always do that though. trace trace yeah. and finally, the sound bite we are going to play is talking about facebook's growth which has been astounding in the past 8 years. here's sheryl sandberg on facebook growth. >> dana: part of the success of the business has gotten so big. have you 2 billion users. can you hire enough people to actually keep up with that? >> at our size and scope, we have real responsibility. and we know that people have that question and it's a question we're answering. we are ramping as quickly as possible. and you have to use technology, too. what you said about an arm's race in the beginning is true.

>> trace: yeah, do you have enough people to be able to go through and call these news sites to make sure that you are not being one-sided in your news because movies the country gets their news from facebook. different things like that are imperative to the future of this company, dana. >> 48% of adults get their news from facebook. so, obviously, that is a big deal. you have to look at how many people that they have hired. they are going from 10,000 to 20,000. still, how many humans can you hire to try to keep up with that because presumably, if they have 2 billion users now, that's only going to continue to grow. they are covering all the corners of the world. mike bloomberg actually in axios in december of 2017 said this company might be just too big. you can bet they have questions about that next week too. >> trace: great interview, dana perino. >> thank you. >> trace: fighter mcgregor couldn't take down floyd mayweather in the ring. he had no problem beating up a bus. is he in serious trouble.

the incident that landed him in the lock-up. and what happens now is coming up. ♪ ♪ weeds. nature's boomerang. at roundup®, we know they keep coming back. draw the line. one spray of roundup® max control 365 kills to the root and keeps weeds away for up to one year. roundup®, trusted for over forty years.

♪ >> trace: and a fox urgent now. ufc super star conor mcgregor one of the biggest names in the fighting world walked into courts minutes

ago. he is facing assault charges, accused of attacking a bus filled with rival fighters. a judge just set his bail at $50,000. tmz caught the confrontation on camera. >> trace: man, can you see mcgregor shatter the bus window with a dolly. the glass wounded others. it went down in brooklyn at an event promoting tomorrow's nights three of which have been called off. he has been going after another ufc fighter that person had altercation with a teammate of mcgregor's. the head of the ufc talked to mcgregor. told him it had to be done and it was justified to him. well, there you go. all i can say is it's bad it could have been worse.

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