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i'm going to instruct my treasury secretary to label china a currency manipulator. the greatest in the world. >> that was last summer in akron, ohio. in just the past few days, donald trump has made some stark policy u-turns from his positions during the campaign. for starters, on nato, on russia, if not putin, on syria, on china, on that last topic the wall street journal reported the following today, trump says the dollar is getting too strong and he won't label china a currency manipulator. he said, quote, i think our dollar is getting too strong and partially that's my fault, because people have confidence inme. but that will hurt timately.

joining us is our own sphanie whose background in finance means we often call on her to explain such things to us. stephanie, in addition to being the first humble brag in the history of the white house, for all of us who didn't take economics, what does a stronger dollar mean, and more fundamentally, is donald trump right about this? >> well, first of all, you have to establish donald trump is 100% flip-flopping. but maybe you're okay with that. what he said on the campaign about the strong dollar, about janet yellen, about china being a manipulator, he's clearly saying something different now. it appears that maybe he is looking at things based in fact. so in terms of there are be a strong dollar, it seems he likes the idea strong dollar because he loves the word strong. but given how strong our dollar is in the global economy, it currently is too expensive for

other countries to want to buy our goods. if the dollar were to get stronger, so if we saw the border adjustment tax, you would see the dollar get stronger and that would be a negative. we wouldn't want that to happen. so president trump making the signal that he is today is kind of saying, border adjustment tax, not happening. in terms of -- you're seeing janet yellen raise interest rates which sounds like she's on the path to do, president trump no longer wants her to do that, saying maybe the economy isn't as strong. customer confidence and sentiment is up, but when you look at the actual facts, when you look at the soft gdp number or actual jobs numbers, he is saying maybe i would like it slow and steady, which is so different from what he said last fall. he said janet yellen and the fed highly politicized, she was only leaving rates as slow as they were because she wanted the economy to look nice and good for obama. but the lifetime savers deserved

more. well, now that he's president, remember, the government, borrowing trillions of dollars, he wants those rates low. and he wants things smooth and steady. it also points to the fact that he is maybe -- we talk about steve bannon maybe being out, steve bannon brought in novarro. peter novarro is the guy said china is the currency manipulator. here's the thing, the department evaluates are the other countries, are the currencies being manipulated, they are not. maybe this is a sign that peter navarro, stephen bannons are getting farther away from trump. jared kushner was sitting next to president trump during the campaign when he made a lot of these claims that didn't make a lot of sense. >> in our final 60 seconds,

donald trump's base voted for the businessman they had seen on television, figuring that on the base line economy, he would be right most of the time. is he right most of the time? >> he flip-flops basically. but basically now the turns he's making, make it sound more like he is listening to more rational people who have a deeper understanding of the economy. steve mnuchin him received said not that long ago, some of the data and information that the trump campaign team was looking at might not have been the best. we didn't have that much money. steve mnuchin wasn't advising him on the economy at the time, he was a finance chair. but it is amazing, it is a stark contrast to where he was. a lot of those hard-core trump supporters are not economic dpu are yous, they're people who want jobs, they want their wages up, they want things to move to a more positive. he has a guy like wilbur ross sitting next to him now. kevin warsh was in the room two

days ago during the ceo meeting. he's one of the smartest guys on the economy out there. you can throw your hands in the air and say are you kidding me with this flip-flopping, but he's flip-flopping with a lot more rational. >> thank you, stephanie. as always, we appreciate it. >> thank you. after our next break, donald trump learns a lesson about north korea. and like health care, it turns out to be harder than he thought. think again. this is the new new york. we are building new airports all across the state. new roads and bridges. new mass transit. new business friendly environment. new lower taxes. and new university partnerships to grow the businesses of tomorrow today. learn more at esd.ny.gov

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yeah, i just saved a whole lot of money by swhuh.ing to geico. we should take a closer look at geico... you know, geico insures way more than cars. boats, motorcycles... even rvs! geico insures rvs? what's an rv? uh, the thing we've been stuck on for five years! wait, i'm not a real moose?? we've been over this, jeff... we're stickers! i'm not a real moose? give him some space. deep breaths, jeff. what's a sticker?!? take a closer look at geico. great savings. and a whole lot more. we have to be very vigilant on north korea. we cannot let this guy go much further. china should handle that problem. china could handle that problem very easily. they say they can't, but they're toying with us, okay? >> welcome back to "the 11th hour." president trump april of last year saying china should handle the north korea threat. the president discussed the matter with china's president last week, and described that conversation with "the wall

street journal." they write this. quote, mr. trump said he told his chinese counterpart he believed beijing could easily take care of the north korea threat. mr. xi then explained the history of china and korea. quote, after listening for ten minutes, i realized it's not so easy, mr. trump recounted. i felt pretty strongly that they had a tremendous power over north korea, but he said it's not what you would think. the problem, of course, is the number of policy professionals and readers of history who knew that already, like the number of people who knew health care was complicated. we've asked barry to join us again tonight, a retired u.s. army four-star general, whose experience includes military policy on the korean peninsula. barry, most people who reach the office of president, it's no one's fault or to their detriment have a background in

government. donald trump is not. he's been involved in other pursuits. how does it strike you to hear that his briefing on the china-north korea relationship came from the president of china? >> yeah. it's sort of unsettling. brian, my experience with the business community in this country, particularly in new york city, they're incredibly well informed. smart people. they pay attention to the world community. if you ask them where slovakia is, they know. astonishing that the president is learning for the first time some of these observations. north korea is probably the most serious threat facing the united states and our allies. japan, south korea, australia, that region, nukes, they're moving aggressively in a direction where they will have an icbm, they will have a submarine launch ballistic missile, they alrea hav solid state missile technology and mobile missiles.

these people are a dreadful threat to the united states, and the region. and mr. trump notioned that we're going to take care of it on our own. i would suggest he's sadly mistaken. >> you told me days ago this train is leaving the station, to the extent that we should switch, along with all the other allied nations in the region, to a defensive posture to concentrating perhaps on how to get these things out of the sky once they're up there. >> yeah. i think -- i pay a lot of attention to what bill perry says. i think he's come to the conclusion that many of us have, they will -- north koreans will never do away with their nuclear weapons. not going to happen. the chinese don't actually have the leverage to force that situation on them. so what do we do. well, we get a coalition. we hem them in. we try and talk to them. we provide them economic aid if they're starving to death. but we better build a defensive

system regardless of what the chinese think about being a threat to their capability, we need to put that in place. ten years from now the american people will be in tremendous peril. >> i want to play the back drop during which the president briefed the president of china about the cruise missile launch. we'll talk after this. >> i was sitting at the table. we had finished dinner. we're now having dessert. and we had the most beautiful piece of chocolate cake that you've ever seen. and president xi was enjoying it. and i said, mr. president, let me explain something to you. this is during dessert. what happens is, i said, we've just launched 59 missiles heading to iraq. >> headed to syria? >> yes, heading toward syria. >> everyone is allowed a mistake, general. but what happens inour reading of history when presidents arrive on the job and find out what it's like to use the levers

of u.s. military power? >> well, it's an awesome thing. u.s. defensive establishment is still the most powerful course for good that is imaginable. 2.2 million men and women. they have the most advanced technology on the face of the earth. having said that, it's astonish the president talking to the chinese -- these are sophisticated people. they do have strategies. they do have a long-term view. they don't want to see the korean peninsula united under -- with u.s. and japanese, you know, presence. so again, it's a little bit baffling seeing mr. trump struggling with these new things. >> general, wherever you seem to travel, we find you. we are so much the better for having you on the broadcast. thank you very much again. >> good to be with you. after another break, the president's dark view of the world, repeated again today. and its context given today's

date. and its meaning in our history when "the 11th hour" continues. you have access to in-depth analysis, level 2 data, and a team of experienced traders ready to help you if you need it. ♪ ♪ it's like having the power of a trading floor, wherever you are. it's your trade. ♪ ♪ e*trade. ♪ ♪ start trading today at etrade.com i've been fortunate enough to win on golf's biggest stages. but when joint pain and stiffness from psoriatic arthritis hit... even the smallest things became difficult. so i talked to my rheumatologist... and he prescribed enbrel... to help relieve joint pain and help stop further joint damage. enbrel may lower your ability to fight infections. serious, sometimes fatal, events including infections, tuberculosis... lymphoma, other ncers, nervous system and blood disorders,

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of. welcome back to the 11th hour. fdr died on this day in 1945. he was he was sitting for the portrait painter. he complained of what he called a terrific pain in the back of his head. when he slumped forward everyone thought he just dropped his cigarette holder. instead the american giant of that century was gone. troops were stunned and shaken by the news. american children of 12 or 13 have never known another president. many wondered how we could possibly go on. his sunny confidence and resolve got us through the depression and a world war even his critics admitted that. it was on this day that the current president's remarks were so striking in comparison. we thought of our friend thrks presidential historian who on

twitter today has chronicled april 12, 1945 including the president's desk in the oval office after word of his death. michael, under fdr the phrase leader of the free world has never been more true. donald trump's world view today as he put it, the world is nasty, the world is a mess. how do you, how should we process the contrast? >> well, i would not take him saying that the world is a mess very seriously if you compare it to a lot of things in history not least that night that we are talking about, april 12, 1945 when the free world, the allies were roaring to a victory in europe but the world was still extremely unsettled. one thing that was amazing when listening to president trump today he makes the point that he doesn't read books for better or worse. you saw the sense that this was

someone who does not have a historical framework. even the thing that he said today about one of the worst or perhaps the worst situation between the united states and russia in human history wasn't exactly the way he put it. i think if he knew about the cold war he would say that yes we have a difficult situation between america and russia now but if you look at the cuban missile crisis or certain other moments it's not so bad. >> it has been proffered before that when he uses superlatives like never before it is because -- >> or most beautiful chocolate cake you have seen. >> because he doesn't have the baseline of history, history in a way begins with his election and his move to the white house and his presidency in his field of view. >> well, i think that's right. and you know i would have said

it abstractly before this presidency but i really say it now which is that when you become president you have to make all of these decisions quickly on the basis of fragmentary information. sometimes one of the ways that you can do this with some wisdom is to have some ideas of where presidents in the past have succeeded and failed, not because you are ever going to know a president that is exactly the same as the case that you are dealing with. it gives you a little bit of perspective and the person who knew that and talked about it more than anyone else that i can think of as president was the man who became president this day in 1945, harry truman who didn't have a college education but i think more well read about presidential history than almost every other president. >> how much would you like to sit down and brief the president on the historical markers you feel he should know about every

day? >> well, i think that would be interesting to do. i think a lot of historians would do that extremely well. but i think it is really no substitute for having a little bit of background. by that i'm not saying that he has to know every minute of the battle of new orleans or the lewis and clark expedition, every place that the two of them went to, but it does help to have some greater understanding of the history of the constitution and politics and given things he was talking about today, the history of american presidents in war. >> april 12 is a big day on the calendar. it is an honor to mark this day with you on our broadcast. >> honor for me to be with you. after our final break, do they or don't they know each other? the evolution of donald trump's answers on the question of vladimir putin when we come back. what if technology

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last night separately i spoke with a man that i have gotten to know. i don't know putin but i do know this gentlem this gentleman. he is the president of china. >> last thing before we go. it was a common question on the campaign trail. have you, donald trump, ever met russian president vladimir putin? do you know him?

do you have any sort of relationship with him? you saw there his answer to the question as of this afternoon. this topic has been a moving target for donald trump who has changed his answer to it over the years. >> what exactly is your relationship with vladimir putin? >> i have no relationship with putin. >> do you have a relationship with vladimir putin? >> i do have a relationship. and i can tell you he is interested in what we are doing. >> i don't know anything about him other than he will respect me. >> i was in moscow a couple of months ago. they treated me so great. putin sent me a present, beautiful present with a beautiful note. i spoke to all of his people. >> i got to know him very well because we were both on 60 minutes. >> we did 60 minutes together, not together. >> i spoke indirectly and

directly with president putin who cld not have been nicer sdprmpt en i don know putin. i never met putin. this is not my best friend. >> donald trump on vladimir putin, a man he said today he does not know. that is our broadcast for tonight. thank you for being with us and good night from new york. at the southern most tip of the great state of nevada, there's a town called calnevari. it sounds like a pasta, i know. but it's not. it's a combined jumble of abbreviations for california, nevada and arizona. calnevari. that's the name of the town. it has 200 or 300 people in it. it's on route 95.