inside morici a mountain wallow readies the 1st test scenario with cyclists as the focus this is tim central component is the dashboard a planning module for camera operators and directors using an input screen they control the flight paths and camera movements of individual drones so they direct out and the media stuff i have to. think about all the backing of. the shows and troubles dot com in place no one where you have to perform a production with the drones but you can concentrate on the editorial staff. all the technical details are taken care of by mission control this system checks all components for plausibility and calculates the ideal flight path for the drones it also make sure none of the drones gets another drone in its picture. one of the program's features after the planning and control is the ability to simulate the mission on the monitor. it's a short step from simulation to reality to test the multi drones practicality for media production to drones track a group of cyclists with video cameras all completely autonomous like. the cameras follow the bike riders with

we ask peter morici. this is a pretty big deal, china lowering tariffs on 859 product.stion at the top why should the average american care about this? >> the tariffs are going down below the rate they charge other nations for american product. of that result in $200 billion more in us exports the way donald trump has promised that is a huge boost to the us economy. every 100 billion gives you gdp of 150 billion. hundreds of thousands of jobs, great stuff, jobs jobs jobs jobs. rob: was the trade war with china worth it? >> it is not over. absolutely. his critics say cost americans, look at inflation, you can get a cheap tv. chinese absorbed most of the cost, most of the pain but the alternative was to keep going the way we were where china kept destroying american jobs and so forth. in the midwest the people hurt by retaliation largely found other jobs within weeks. the only way, donald trump's economy, for you not to have a job is to not get out of bed in the morning. the reality is it did little to hurt us and a lot to focus the chinese on. they have to change their w

peter morici says the market will grow even larger in 2020 and he is live up next.non: half past the top of the hour you are watching "fox and friends first," look at our top headlines this morning starting with this fox news alert, the fbi joining the search for missing mother and her tweet week a daughter in texas. heidi broussard vanished with her baby after dropping her son off on thursday. austin police will give an update on their investigation this afternoon. former trump campaign official rick gates will be focused today, being sentenced for charges stemming from the russia investigation, he pleaded guilty last year to hiding money from a job in ukraine, the doj said he provided, quote, extraordinary assistance, the department is not seeking prison time. last-minute negotiations are scheduled in loyola university days before the next democratic debate. food workers at the school are on strike demanding higher hourly wages. the 7 candidates who qualified for thursday's debate are threatening to boycott in solidarity. now to foxbusiness alert, boeing suspends

international trade commission and university of maryland professor pete morici.bers, thanksgiving and black friday sales are up over a -- around a billion dollars each, little bit less for thanksgiving sales, so what does it say about the economy and why are people spending so much now? >> they have confidence in the trump economy and it's that simple, the consumer confidence numbers, they don't just say are they confident, what's the job's outlook, how do you feel about inflation, how do you feel about the future, very important indicater and they are indicating positively, investors, the stock market has changed, more and more investors and a lot of us ordinary folks are investors moving to what are called cyclal stocks and outlook is 10% gain and finally, there's been a shift in the polls, mr. trump was lagging behind the principal democratic candidates until about a month ago. rob: yeah. >> now he's running about even, depends on which one you pick, one ahead by a point and the other behind by a point, he wins the electorate college big, the shift in voting b

bring in university of maryland economist peter morici to break down last 10 years.hat will happen the perhaps the next 10. peter, i thought was interesting, one at a time with you, but lower interest rates had the fed backed into a corner. many people are saying that the central banks around the world have left us in a pretear -- precarious situation in general. >> i don't think so. they may be thinking that way but they don't have to. if we go to electronic money, digital dollars, the fed can bypass the banks to stimulate the economy. there is big potential that way. sweden is looking at it. china is looking at it. the fed is moving slowly. that is unfortunate but they do have options. charles: you're not worried about negative interest rates, asset bubbles, not worried about things historically associated with missteps with central banks. >> that is different than tools. in the short term it gives you a sugar hike, gives you help. long term rots your teeth. my feeling interest rates should be in positive zone. you don't need to lower interest rates to get stimulus

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bring in peter morici, former trade guy. it is all progress. it is all positive. >> you're absolutely right. this deadline business is absolutely correct. i've been in the trade business since i'm 16. i'm now 71. it goes back that far. i've been a trade official. written about them. tenure on them. the whole darn thing. this is like the nfl. everything happens in the last ten minutes of the game. everything happens in the last 30 days of trade negotiations. they already have a template for britain's arrangement with the uk. that is the, with the eu. that is the canada deal. likewise we have a template for their arrangement with us. that the usmca. matter of them becoming a fourth partner. this can be done and he is absolutely correct. the reason the markets were down and the pound was down is because bloomberg and "wall street journal" were dilitants who have never done trade agreements, oh, that's impossible. it was in print this morning. that is absolutely nonsense. it is not only possible, it is the only way to get it done. stuart: all these deals, the deals we

peter morici. thanks for coming. >> in take care.ts. he waits a long time. >> what did you get mrs. trump for christmas this year? >> that's a tough question. i'm still working on a christmas present. ed: he is still shopping. do you wait until the last minute as well? we will talk about it coming up ♪ ♪ ♪ ♪ making it smaller. and you'll be surprised at how easily starting small... ...can lead to something big. start stopping with nicorette at bass pro shops and cabela's. with savings of up to 50% on select men's and ladies' clothing; footwear; fishing and marine gear; and toys. use your gift cards and take advantage of huge savings-- in-store and online. ♪ ♪ ♪ silent night ♪ holy night ♪ all is calm ♪ all is bright ♪ round yon virgin ♪ mother and chil child ♪ holy infant so tender and mild ♪ sleep in heavenly peace ♪ sleep in heavenly peace ♪ silent night ♪ holy night ♪ shepherds quake ♪ at the sight ♪ glory streams from heaven above ♪ heavenly host sings hallelujah ♪ christ, the savior, is born ♪ christ, the savior, is born ♪ silen

international trade commission chief, peter morici. great to see you. merry christmas.ew year. the whole shebang. first of all, on china, let's talk about trade in general. we are in a position right now where all the work the president has been doing over the past couple of years, the ustr, are beginning to pay off. no? >> absolutely. we've got this deal with china coming together with the deal with mexico and canada. those will provide the templates to future trade agreements. agreements that are based on real reciprocity. no more the u.s. lets in their products and they get to block ours. the china tariff, wonderful news. we are going to pay lower tariffs than anybody else because after all, we have been china's biggest market. $100 billion more in exports a year if we get them, if the tariffs work, if the tariff cuts work. huge boost, hundreds of thousands of jobs. david: instead of dealing with the wta, the president has been very specific and so has the ustr and treasury secretary. if china violates, because verification is the key here. it's always been tough wit

brian: peter morici who talks really fast and wear as bow ty an economist said.ople like paul krugman and the folks you saw there are liberal democrats. they don't like donald trump and the tribe decided to cook up a scenario basically talk the economy down. they were basically letting their politics get in the way of their economics data, reasoning, the history of tax cuts and deregulation were irrelevant to people. the trade deal with china were not a mistake. only polemically used by liberal economists to basically trash the president. the tariffs on mexico hurt mexico. they didn't hurt the united states. they brought mexico to the negotiating table. and now we are getting a better deal. the reality is his policies do work. steve: the policies do work, according to him. you look at the stock market. you look at how people feel. what do you think, given the fact that we are now at 120 records on the dow? what do you credit that with email us 00 foxnews.com. we're also on facebook. brian: agreed to fund the government. unlike last holiday season the president ha

peter morici served as chief economist for the u.s. international trade commission.us live now. peter good to have you in. >> nice to be with you again. ed: interesting to think back to 2016 when some of the smart money managers, allegedly smart were predicting there would be some sort of market meltdown if donald trump got elected. seems like just the opposite happened. >> absolutely. some of our best economists that live on the charles river with elizabeth said we would have recession. not to mention krugman with the "new york times." the reality his policies are working. they're working well. i might say the economic textbooks, written by good liberals up there on the charles river said tax cuts and proper regulation works well. the thing is, that so many of the analysts, whether they write at "wall street journal" or on a canoe on the charles river, homoacademis is really homo hypocrites. they let it blind them. mr. trump might not be the nicest person on earth. i don't particularly dislike him but they do, but, that separate that from his policies. they're very