thank you both for joining us fellas alex let's start with you give us some detail on what the business roundtable in the chamber are saying. to the same business people that were loving the tax cuts and loving the deregulation are not loving the tariffs against china so much because they say that retaliatory tariffs from china are going to hurt a multitude of industries in the states including manufacturing farming and of course consumers in general now we have one guy here and this man really stands out when his voice is heard i think we've got to listen we talk about gary cohn he's a former head of the national economic council he was working with closely with the truck been a straight and what he had said is that this was just last week that a trade war could wipe out all those booms that we were just talking about from businesses or for businesses from the tax abuse they were getting so this one cancels out the other talking across the board here when you're hearing from the business world in the states what people are saying is yes we do want fair trade with china we don't believe it's fair

supports the facts of those issues the business roundtable has been quite clear we don't think tariffse way to do it. you make more. people tends to retaliate. you can incite nationalism in countries because it's not the same thing if you don't negotiate and be tough on each other. if you put a country in a tough position how they might react it could create potential negative outcomes. we are cautious about doing it that way we want to support trade, we want to get nafta done we think you can make great progress with china and they will be responsive with those issues >> reporter: very quickly the latest coming from the white house is they are looking for bilateral talks instead of nafta, canada, mexico, the united states, bilateral talks with us. what do you think about that jamie? >> i disagree, we're stuck here on two issues. okay, for nafta the sunset proichlths the president can rip it up whenever he wants? he can rip it up, i don't know it creates more uncertainty for everybody else there is uncertainty there anyway you want consistency the arbitration you can go to effectively

red flags over the impact of chinese retaliation and the prospect of further escalations the business roundtable a group of corporate c.e.o.'s posted a statement opposing president trump's recent imposition of tariffs on fifty billion dollars of chinese imports to the u.s. walks pressing sympathy for some of president trump's complaints about china's trade policies perhaps the round table opposed what they called quote the administration's misguided focus on temporarily reducing america's trade deficit with china through goods purchased the trumpet ministration previously attempted to float a package of supposedly chinese promises to buy more from the u.s. as they gain from that confrontation only to see if chinese the chinese deny such commitments the chamber of commerce president tom donahue toady similar line saying this is not the right approach and in that regard we now move to a trade war and today we focus on china as we were just discussing and the united states to help us out we're joined by our team is correspondent alex my hyla bitch a trade effort from toronto and from our new york s

ed out and the business roundtable support the issues. think tariffs are the way to do it tariff has unpredictable outcomes you hurt allies more than anyone else people tend to retaliate >> senator chuck grassley with similar warning tweeting that agriculture will be the first to be retaliated against. joining us this morning is "new york times" columnist jim stewart who spoke with the senator for your column. it's good to see you it's so interesting because it's really at the cross roads of economics here and politics too. >> absolutely. i think it's important to understand when looking at what's going on here how important the farm build isand the farm vote is to trump and the republican party they are geographically concentrated in a handful of states critical to his majority and will be going forward. they also have a lot of senate races up for grabs even though people think of these as republican states, it would not take a big swing in farm voters to move them into the democratic column. and this is a huge issue for them they do not

conduct in the twilight of his indistinguished career is another ingratiated himself to the business roundtable and coch table and wall street. mike fernandez is threatening to with hold all funding from republicans who will not back the daca discharge pecision. and assembled the megadonors to join him including former chairman john roe and david mcneil and doctor in the university of miami health system and coastal construction tom murphy junior. and sergeio pinno and carnival cruise line and enrique sosa who own ryan and the destroying of gop. joining us is a congressman from florida. congressman matt gates. you put out a strong statement. it is shameful to see how the house gop leadership. that is straightforward as you can put it. why, i just got to ask why in the world are you putting up, not you, but your conference putting up with a man who can do what he did today in the leadership briefing. change the subject from the success of the party and biggest primary night in the election psyche and he will turning it to himself and the idea that evidence matters in his judgment of whether or n

administration as a member of the so-called business roundtable an association of america's top executives advisors politicians in washington and hopes that his voice is heard i think the politicians do listen to us i think they take our advice as know how they implemented it or not implemented how long it takes it's different the reality says . that globalization is unstoppable driven by mobile technologies. at the dynamics of emerging markets in africa and asia the actions what we see not only in the u.s. but other parts of the world is kind of a momentum correction of globalization i believe that globalization is only taking a break but people are connected and that we do is that connecting the people globally we build bridges not voles actually this is the really defeater sending money from mobile to locations sending money from mobile to for almost four billion a concert worldwide and this has been probably one of our because investment one of the most success stories in fact dot com why our mobile soon dot com is growing the fastest in our business and western union is constantly exp

tom donahue in the chamber of commerce didn't want it the and the business roundtable didn't want it and the koch brothers didn't want it and they are the ones that are managing the bill today. >> yeah, and so i didn't know until i just got here to go on with you that they pulled the bill at the floor. when i left the conference 20 minutes ago, we were going to have a vote tomorrow. >> lou: i am curious on this. is there anyone paul ryan will not lie to within the conference? is there any rain, is there any reason, why anyone in the republican conference should tolerate him as speaker for another minute. >> i can't say that he lied. he has gotten good with his words because he said this compromise bill address all four pillar and takes care of all four pillars and he didn't actually say it was going to fix all four, it says it addresses sdmem on chain migration, he didn't say it ends chain migration. those words this puts us on the road to fixing chain migration. i said we have been on the road for a hundred years and we need to get off of the road and fix it. that's parsing words, b

business roundtable ceo josh bolton and chair, jpmorgan's jamie dimon, told reporters they'd advise the white house against tariffs and protectionist policies to no avail. 132 ceos rponded tthe survey during the middle two weeks of may when the white house was negotiating trade deals on nafta fricascreased intwo fronts w the weeks since. the u.s. may pursue separate deals with canada and mexico to replace the cut trilateral deal and a white house team in beijing reportedly rebuffed an offer from china to buy $70 billion in u.s. energy and crops. here's white house press secretary sarah sanders. >> our focus is on making sure we get good deals. i'm not here to make an announcement on what those look like, but he's going to push forward to make sure he gets the best deal for american workers. >> a campaign promise turning into a "c" suite headache. kayla tausche, cnbc business news, washington. >>> a fly in the ointment that could end the recovery that's what jpmorgan's jamie dimon thinks about trump's trade policies head to cnbcor more on what ceos think about current trade tensions and

the business roundtable urgedengagement, not friction. in canada. pete assignmentens, the ceo of the oldest lyfaun business, worry leaders are missing the opportunity to move forward. my greatest fears we don't have historic at perspectives, obd we connue to apply ideas past ideas that arlete to modern-day problems. >> reporter: failing to keep the u.s. in the iran d nucleareal and the paris climate accord. beforeg, leavinresident trump added a new curveball for the one-time group of eight, bringing russia back into the fold. e>> russia should be in meeting, it should be a part of it. you know, whether you like it or not, and it mayot be accomplicically corree politically correct, but we have a world to run. the g7, they threw russia out. they should let russia come back we should have russia at the negotiating table. >> reporter: russia was expelled in 2014 after invading crimea. european officials say the u.s. should strengthe the g7 instead of adding new challenges. canada's foreign minister says russia continues to flaw flaut the rules. >> there'

chaka robins who chairs the business roundtable immigration committee said in a statement the practiceis cruel and contrary to american values good on those folks the two groups joined a chorus of critics that also included the united nations high commissioner for human rights who yesterday said quote the thought that any state would seek to deter parents by inflicting such abuse on children is unconscionable. you bet big time was more on this in the coming days and specifically on the economic and business impact of u.s. immigration policy. and in the latest presidential pronouncement on trade donald trump has threatened to impose additional tariffs another two hundred billion dollars worth of imports from china if china does not make an unspecified changes in their trade policies last friday mr trump announce fifty billion dollars of tariffs on chinese goods provoking china to retaliate financially and rhetorically white house trade advisor in china hardliner peter navarro served as hype man for the threat telling reporters china has more to lose in the trade war. and big news on the

s of apple tesla and google detractors also encompass the business roundtable in the u.s. chamber of commerce and i'm not suggesting there are other factors that influence the decision there were members of president trump's own political party already speaking out in opposition to members of the clergy plus all of the former living first ladies of the united states perhaps even the first lady mamiya trump who was at the southern border today or the president's daughter of made a difference but business leaders. played a defining difference difference they made an enormous and important role and good for them if we consider why business leaders take policy positions there are basically two reasons that they do so it impacts their businesses bottom line on things like taxes or minimum wage or sector specific issues and or if they consider an issue so significant from a moral perspective that they believe using their voice will assist in moving the matter in the direction they seek well it could be a combination of the two i think the second reason a moral imperative is the

s of apple tesla and google detractors also encompass the business roundtable in the u.s. chamber of commerce and i'm not suggesting there are other factors that influence the decision there were members of president trump's own political party already speaking out in opposition to members of the clergy plus all of the former living first ladies of the united states perhaps even the first lady mamiya trump who is at the southern border today or the president's daughter ivanka made a difference but business leaders. plaited defining definite difference they made an enormous and important role and good for them if we consider why business leaders take policy positions there are basically two reasons that they do so it impacts their businesses bottom line on things like taxes or minimum wage or sector specific issues and or if they consider an issue so significant from a moral perspective that they believe using their voice will assist in moving the matter in the direction they seek what could be a combination of the two i think the second reason a moral imperative is the mor

they could line up with the business roundtable and the chamber of commerce and kock.oining us tonight issan outstanding congresswoman from tennessee. diane black joining us tonight. and great to have you with us. i share with you. the you like the word rinno. >> i do like it. >> we have a viewer named wanda. edrollins is concerned about the use of word rinno. he loves rinnos. she suggested possums where they are and one of each and armadillo and she mrefrs possums. no one calls them o'possums that i hear. i don't think we have it yet, wanda. what do you think? you want to go with rinno or keep looking. >> i will stick with rinnos and the acronym is what it is. i will stick with that. >> lou: you have an idea of border security that is fascinating and raise the money and build the wall. and get it done. they say yes we will the american people can send their money in. is this new? the crowd funding? it was done with the washington monument and a lake of commreepgz. nape did crowd funding and you can go see the monument and see the money and it will not fund the entire

ministration has brought upon the united states and there is also news on this story as the business roundtablein the u.s. chamber of commerce have both come out in opposition to the policy of taking children from their parents the chamber's president and c.e.o. tom donohue published an official blog for the group titled separating children from families must end now donohue wrote quote let that sink in for a second our government is forcibly separating children including toddlers from their parents and sending them to detention facilities as a means of sending a message and influencing congress cisco systems c.e.o. chuck robins who chairs the business around tables immigration committee said in a statement the practice is cruel and contrary to american values good on those folks the two groups joined a chorus of critics that also included the united nations high commissioner for human rights who yesterday said quote the thought that any state would seek to deter parents by inflicting such abuse on children is unconscionable you bet big time what more on this in the coming days and specifically

chaka robins who chairs the business roundtable immigration committee said in a statement the practiceis cruel and contrary to american values good on those folks the two groups joined a chorus of critics that also included the united nations high commissioner for human rights who yesterday said quote the thought that any state would seek to deter parents by inflicting such abuse on children is unconscionable you bet big time well more on this in the coming days and pacifically on the economic and business impact of u.s. immigration policy. and in the latest presidential pronouncement on trade donald trump has threatened to impose additional tariffs another two hundred billion dollars worth of imports from china if china does not make unspecified changes in their trade policies last friday mr trump announced fifty billion dollars of tariffs on chinese goods provoking china to retaliate financially and rhetorically white house trade advisor in china hardliner peter navarro served as hype man for the threat telling reporters china has more to lose in the trade war. and big news on the fi

partnerships and accountability through all of these conversations sitting as the head of the business roundtableo play such an important role part of that partnership business community and how important that had been. and part of that is the transformational component but they were not such a player 15 years ago in the enterprise of assistance and development. >> i cannot begin to answer that without accommodation to bring in the business community to give a focal point because the business community, the ceos that i work with those that are leading the american companies they all care deeply about every one of the issues that has been discussed and it's not just a matter of humanitarian instinct it would not have been a place you would want to do this and if you're going to do business anywhere you need good workers and healthy workers and workers that are well-connected. business is deeply interested in this type of good outcome. and then to give american businesses and in which to operate. i don't want to finish without picking up that was mentioned with the partnership sense but and in addi

american beverage foundation has funded this to the tune of $4 milion so as well as the california business roundtable. it would undo the decision to eliminate the super majority requirement for initiatives based on the ballot through voter petitions,ut would tie our hands for requiring a 2/3 majority for all new taxes, special or general, including retro active to petitions on today's ballot. it would eliminate the ability of cities to put a tax measure on the ballot without a 2/3 board of supervisors vote. and it would create a burden on departments that depend on fees by requiring that they be calculated on actual costs rather than reasonable costs. the california league of cities is opposing this measure and other cities are passing similar resolutions. i want to thank the city attorney's office forlaggin this and to supervisors fewer and sheehy for co-sponsoring. very sadly with supervisor peskin -- thank you. this is because today's election day and i've gotten no sleep whatsoever. sorry, my dear colleague. i would like to close today's meeting in honor of renee yanez, dedicated artist, activist

essentially a quarrel between the top business leaders in this country represented by dimon, the business roundtableesident trump over this tariff business. now the president may walk away from it and not do these tariffs and carrying a big stick and not going through with it, but i can tell you right now jamie dimon and president trump have not spoken since february. one of the reason why is the relationship has cooled over the trade issue and he's essentially alienating, i would say, a pretty important bloc here for republicans going forward. if you want campaign contributions, this is where the money is, and it's over trade. neil: can you argue, he's one to complain with a tax cut that made him a gazillion dollars. where is this going, the trade thing? it is supposed to produce the results, you don't need to actually have them. >> exactly right, neil. this is the biggest test ever of trump's negotiating model, "the art of the deal." threw down the gauntlet on iran, withdrew from the iran deal. going to singapore to negotiate with kim jong-un. this is many, many times bigger. essentially donald tr

he'll be hosting a roundtable, a business roundtable amid another big political story, his tariffs are china. he will have a campaign rally later in the day. this is a big story. separation of children from their families is not going away. >> no, it's not. we will be talking about it all morning because there's so many developments. "the associated press" reports that babies and toddlers, the youngest, are being held at so-called tender age shelters in texas. we don't know much about it. nick valencia has visited one. he's live in hidalgo, texas with more. >> reporter: good morning, alisyn. these three shelters are located in the rio grand valley with a plan to open a port in houston. it defines any child under the age of 13 to be tender age. since this zero tolerance policy has been implemented, more than 2,300 children have been separated from their families. the youngest being september to these tender age shelters. my crew and i went to a facility run by southwest keys, the nonprofit that works hand in hand with hhs. it's a facility where children, only children, younger than 10 y

the business roundtable said this is a profound mistake, that in terms of prices for consumers here in the u.s., our own ability to export and economic growth all endangered by a tariff war the president started. here's the irony. overall, fareed, in terms of taxes, the united states, e.u., canada, very low, under 2%. there are specific products that get high tariffs. the president is right about milk products being sold to canada just like the canadians are upset that we slap a 300% tariff on tobacco. the trans-pacific partnership resolved the milk issue with canada. that would be a way to do it. starting a war with your best friends, not the right way. >> it's important that people understand, these trade deals are complex packages. you can always then point to one area where you feel you got shafted, you know, you got something else. for example, the united states sells its services everywhere and often other countries resent the fact that we get that special treatment so everyone's making some concessions in return for some reciprocal concessions on the other side. >> that's exactl

steel, pork, cheese any bourbon and there's concern from business executives and the powerful business roundtablet trump's overall trade strategy and that uncertainty means they are scaling back plans for hiring and spending. 85% of america's top ceos worry trade policy will slow the economy. 90% think it will lead to higher business costs, but poppy, looking at a win like granite city, that's important for the optics of this president even as many other allies and business leaders are concerned about the president's trade policies overall. poppy? >> christine romans, thank you very much for that. >>> buckle up for this breaking news. mexico is slapping $3 billion on tariffs on u.s. goods. this is in retaliation to what president did to mexico just days ago, our u.s. ally. here's anmportant reminder. mexico is the second largest market for u.s. exports. they're the second biggest consumer of goods we make here in this country with american jobs. they buy $345 billion worth of u.s. goods and services according to the commerce department, brianna. you know what? this is what trade war looks like. >

the speaker, who is owned lock, stock, and barrel by k street, the chamber of commerce, the business roundtable brothers and wall street. so it won't be favor of american middle-class and american working families, and indeed, that is his hallmark for 20 years in the house. he works for k street. >> tucker: so why the push to get this through without a debate? it seems like the republicans could win this debate if you look at all the polling on it, and the republicans are basically on the side. >> lou: as you have reported, you can slice and dice the demographics anyway want to come and more people are disgusted and appald by that dilatory us and a negative impact of illegal immigration into this country, and that is simply the straightforward fact. but they can't even raise a voice that is even remotely comparable to the ownership of the establishment and global elites who are demanding cheap labor. and that is straightforward. it is your purpose to bring more immigration into this country and to preserve lower wages. just as president trump has wages rising, the middle class is now growing. i

did you hear about this, the business roundtable dropping a grenada. 132 ceos in the latest organization are increasingly uncertain. the head of the roundtable, jamie dimon saying president trump's trade policy is the fly in the ointment that could end the economic recovery. our next guest agrees. he says financial markets have little room for error here. joining us now, chief investment officer, gene goldman. gene, we think there are safe sectors. what are ones you say are safe, not safe, and what are the secret safe ones if what jamie dimon and roundtable is true. >> liz, great question. you look at business cycle. you do feel it is a little extended but good news about the business cycle is the fact that it is not like traditional business cycles in the sense that you have both rising rates and rising earnings, most business cycles end with rising rates and rising earnings. markets have done very well last i' fan of history. like fdr once said, calm storm never made a skilled sailor. so things are changing. market volatility is incasin dramatically. melissa: okay. >> what would you su