larry kudlow is part of a wing that wants a negotiated solution.is not clear we will get that soon. david: thank you. from presidente trump on more tariffs to come on china. this is bloomberg. ♪ let's take a look at the markets and see how they are reacting to the president's latest comments. we are seeing the dow s&p 500 and nasdaq reversing earlier games. tech and consumer discretionary were leading the gains but as you can see the nasdaq is down 2/10 of 1%. not surprising considering the chineset said more tariffs are ready to go. we have already heard from tech companies with cisco and hewlett-packard warning that if they saw $200 billion worth of soon, that could raise their prices. including internet costs. not surprising that the nasdaq is taking a hit. more, -- ee we asked the question, which is more important the jobs number or the terror question? this announcement on air force , you see what the market does. the answer is right now the markets care about trade. quite such an important contacts. the president said $200 billion of tariffs

larry kudlow coming up in a few minutes. we'll take a quick break and come right back. >>> the wall street call on the cards. see which one this firm thinks is set to outperform plus, larry kudlow may be about to move the market a live interview focusing on trade is straight ahead. >>> before the break, our data partners at kensho on the insurance sector after a major hurricane. the data shows the sector trades negatively 100% of the time two weeks after landfall with an average drop of 4.7% for more go to cnbc.com/kensho oh, and there's the closing bell. (sighs) i hate missing out missing out after hours. not anymore, td ameritrade lets you trade select securities 24 hours a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bell? sure can, jim. ♪ trade 24/5, with td ameritrade. ♪ this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you

kudlow, the white house economic advisor, larry kudlow was on at 12:50 or so.'s that circle where he started talking saying tariffs could be coming soon, more tariffs could be coming soon you see the market take a leg lower. tariffs the marginal mover of the stock market the other problems the markets are having is the banks are doing nothing and haven't for a long time. again today, another 1% down day. many of the stocks, believe it or not, are not far from 52-week lows that's hard to believe with the s&p close to an historic high. citi moving 9%, 10% for pnc, usbancorp. without banks moving forward it will be hard to keep sustaining highs on the s&p. >> thanks, bob well, as president trump gets ready for another round of tariffs on chinese imports, the head of the international monetary fund says the outlook for global economies has deteriorated due to trade. >> clouds on the horizon has not become lighter but darker. >> that's christine lagarde. is she right let's bring in ben man deli at jpmorgan and james investment research ben, i'm going to start with y

larry kudlow will join us this hour 201,000 jobs added futures down, though, maybe on rate hike jitterss wage growth in august is at a new cycle high europe is weak today ten year above 2.9 and the vix above 15 our road map begins with weed, whisky, and a flame thrower. elon musk giving an unforgettable interview. the chief accounting officer resigns. >>> u.s. wage growth is in a nine-year high unemployment 18-year low the stock futures are slipping now. trump's economic advisor larry kudlow is going to join us this hour >>> and nike, the nfl, and the new colin kaepernick controversy. the president announces what was nike thinking? >>> tesla is down in the premarket. the automaker said the fcc filing dave morton has resigned effective tuesday, september 4th. he has no disagreements with tesla's leadership or financial reporting. comes hours after musk makes another eye-opening move last night on joe rogan's pod cast. musk was smoking a joint and drinking whisky. >> sir, is that a joint? or is that a cigar >> no. >> okay. >> it's marijuana. >> it's weed. >> out of a -- >> okay. like toba

guest: larry kudlow was the best man at my wedding. we are very good friends. we work together side-by-side during the campaign and devised the tax plan. i agree with every word larry just said. there is no law of nature this is the american economy cannot grow faster than 2%. and hillary obama clinton economists said. we believe if you are first obama policies, we would tell trump look at everything. can get growth. with theoing on now economy, is we are firing on all sin -- cylinders. jobsve 6.5 million more today than people to fill them. i have been traveling this summer all over the country. everywhere from portland maine to portland oregon. everywhere with few exceptions. in the cities, cranes building new factories. apartment buildings. new warehouses. it is the biggest construction boom in the history of the united states going on right now. why is it happening? because of trump policies. you asked me about debt. went up when attila -- a lot. in the obama presidency, we doubled the debt. one thing we told donald trump is we're not going to get this debt

larry kudlow makes this very clear. believe them both very much, what i hear about taling that, and i hear from businesses china is taking these things. we can't own a certain percentage of a chinese company which makes no sense. trish: i agree. >> if they're behind us in technology clearly they would be advantaged by having freer trade rather than less trade. they would be booming as a result. right now i think they're on the brink of collapse and i don't think xi is in good shape. trish: i hear you. my advice to larry and my advice to the president, stick to your guns, don't budge. >> they will stick to their guns. believe me, larry and the president will stick to their guns. i am one, i get all scared on this stuff. i wrap myself up in a fetal position and cry. trish: we have the best game in town. we'll use leverage while we have the ability to do it. >> i hope they get a free-trade agreement with china. i love china. i think china would be a great partner of ours. trish: art laffer, thank you. good to see you sir.

still ahead, we are going to be talking with president trump's chief economic adviser larry kudlow isng to be here to talk about another strong job's report this week, but first, questions of presidential power taking center stage in this week's supreme court hearings amid talk of presidential subpoenas and pardons in the mueller probe. >> let me just ask you this, can a sitting president be required to respond to a subpoena that's why capital one is building something completely different. capital one cafés. welcoming places with people here to help you, not sell you. with savings and checking accounts with no fees or minimums. that are easy to open from right here or anywhere in 5 minutes. no smoke. no mirrors. this is banking reimagined. what's in your wallet? i'start at the new carfax.comar. show me minivans with no reported accidents. boom. love it. [struggles] show me the carfax. start your used car search at the all-new carfax.com. your society was dearled by a woman, who governed thousands... commanded armies... yielded to no one. when i found you in my dna, i learned where my

i am pleased to say we welcome larry kudlow. good morning to you. the question we have been asking around this table, where did the jobs keep coming from? well, listen -- i think calculating the whole story, and kevin hassettck in the caa has done some work. too precise, you have 10 million people who want to be employed and have not yet, but they are rejoining the workforce. some people think that that number could be as high as 20 million. when you have a strong economy -- look, we are in an economic boom. it wouldeople thought be impossible. we are actually picking up speed isn andw on things like wages and so forth. when you get these conditions, boom, more people will come to work. they will be rewarded by higher wages. i want to add one thought. i know the focus is on average hourly earnings. it went up 2.9 cents year on year, that's great. when you take out taxes, right, add in benefits, add in bonuses and use the right inflation measures, you are probably looking at 1.4 or 1.5% real income after-tax. i like to call it take-home pain. that is

still ahead, we are going to be talking with president trump's chief economic adviser larry kudlow isng to be here to talk about another strong job's report this week, but first, questions of presidential power taking center stage in this week's supreme court hearings amid talk of presidential subpoenas and pardons in the mueller probe. >> let me just ask you this, can a sitting president be required a sitting president be required to respond to a subpoena alright, i brought in new max protein ...to give you the protein you need with less of the sugar you don't. i'll take that. [cheers] 30 grams of protein and 1 gram of sugar. new ensure max protein. in two great flavors. ♪ ♪ they're the moderne stone age family. ♪ ♪ from the town of bedrock. ♪ meet george jetson. ♪ ♪ his boy elroy. with instant acceleration, electric cars are more fun to drive and more affordable than ever. electric cars are here. plug into the present. but let's be honest, nobody likes dealing with insurance. which is why esurance hired me, dennis quaid, as their spokesperson because apparently, i'm highly likable.

still ahead, we are going to be talking with president trump's chief economic adviser larry kudlow isng to be here to talk about another strong job's report this week, but first, questions of presidential power taking center stage in this week's supreme court hearings amid talk of presidential subpoenas and pardons in the mueller probe. >> let me just ask you this, can a sitting president be required to respond to a subpoena -♪ he's got legs of lumber and arms of steel ♪ ♪ he eats a bowl of hammers at every meal ♪ ♪ he holds your house in the palm of his hand ♪ ♪ he's your home and auto man ♪ big jim, he's got you covered ♪ ♪ great big jim, there ain't no other ♪ -so, this is covered, right? -yes, ma'am. take care of it for you right now. giddyup! hi! this is jamie. we need some help. (guard) i've seen things unnatural things. these people they don't sleep... like ever. they reveal in extremes and defy limitations. these pursuits may seem unnecessary. but the scariest thing i can imagine is a world where this, doesn't exist. >> can a sitting president be required to respond to a subpo

still ahead, we are going to be talking with president trump's chief economic adviser larry kudlow isng to be here to talk about another strong job's report this week, but first, questions of presidential power taking center stage in this week's supreme court hearings amid talk of presidential subpoenas and pardons in the mueller probe. >> let me just ask you this, can a sitting president be required to respond to a subpoena minimums and fees. they seem to be the very foundation of your typical bank. capital one is anything but typical. that's why we designed capital one cafes. you can get savings and checking accounts with no fees or minimums. and one of america's best savings rates. to top it off, you can open one from anywhere in 5 minutes. this isn't a typical bank. this is banking reimagined. what's in your wallet? >> can a sitting president be required to respond to a subpoena? >> i can't give you an answer on that hypothetical question. >> you can't give me an answer on whether a president has to respond to a subpoena from a court of law? >> each of the 8 judges currently sitti

but larry kudlow suggested that in fact the u.s.ome in and do what the imf hasn't done, play the sound bite. >> the treasury is deeply involved in this discussion, deeply involved, which is a great thing. and, as you and i learned and others, the only way out of argentina's dilemma is to set up a currency board, the peso links to the dollar, but you can't create a single new peso. david: think of that idea? >> that is sensational. 1990s, argentina did a half-baked currency board which had some success. they didn't do it right. it went kablooy. david: it did last for seven years. >> every time you do a real currency board it always works. so by taking out of the hands of politicians and central bankers, having that fix, it kills inflation overnight. bulgaria did it 20 years ago. almost hewlett-packard irinflation overnight -- hyperinflation. stability. david: argentina sounds like it is far away but could lead to a spiral for emerging markets all over the world. >> it has speculators going after currencies because they know central b

thank you all as well to treasury secretary miewnchen and director of national economic counsel larry kudlow for their tremendous work. everybody has worked very, very hard. this is long and come many years actually i will say in coming. in a few moments we will sign a document pledging that our countries will take the additional necessary steps to implement the new united states korea trade agreement. i want to express my gratitude to president moon and his entire team for their dedicated efforts to reach really what we would call a historic milestone in trade. something that most people thought was not going to be happening from. day one i promised the american people that i would renegotiate our trade deals to ensure that our agreements were fair and reciprocal. for decades, politicians have talked about fixing broken trade deals only to do absolutely nothing about them. my administration is the first to keep our promise and deliver. in addition to this deal we have many in the works and they are fair deals, reciprocal deals. they make a difference to our companies and united states as a

dom, back over to you. >> larry kudlow also made some comments during his chat with becky yesterday. there's no real reason the tariff also have an impact or hurt the u.s. economy and also saying china just needs to say yes to some major trade development. any sense there could be headway being made behind closed doors or in back channels? >> it doesn't seem like it it seems like we're stuck with the war of words and the actual tariffs that will be hitting businesses larry kudlow made the argument that moving towards freer trade would be pro growth, but many economists disagree with him you see the imf marking down growth estimates because of the trade tensions that are roiling businesses and businesses are saying eventually we will have to pass on these price increases to our customers. >> what's the next step here what happens next? where do we see -- is it a formal negotiation is it kind of like going through the back channels to chat a bit? what do you expect to see? >> initially there had been some discussion that treasury secretary steven mnuchin might lead a new round of talks

peter: i sensed a little bit of that from larry kudlow today, that he does not want a trade war. i think he understands it is bad for the country, but he is also thehere does not seem to be nationalists within the administration, they seem to be dominated the conversation. -- dominating the conversation. that is happening more more, as the people who used to be pressing the case for globalism are leaving the administration one by one. appreciate your time, peter coy. still ahead, president moon heading to the north to salvage the stalled nuclear talks. we are live in seoul later this hour. >> up next, more on the market and why it is said to be knotty. -- naughty. this is bloomberg. ♪ ♪ day and a view of the harbor in sydney, counting down to the open with features futuresed -- unchanged at the moment. i'm shery ahn in new york. haidi: escalating trade tensions seem to be reaching a peak. you are watching daybreak australia. investors grappling with the latest american threat to expand tariffs on chinese goods, but our next guest says it is more than a knee-jerk reaction. we have

stuart: larry kudlow was peaking right there.pointed at 200,000 new jobs. we got 4% growth last quarter, probably this quarter as well. i was looking for 300,000, 400,000 jobs at some point. where am i going wrong? >> i don't think you are going wrong. look, i think all the pieces are in place. i think it's a good report, a strong report. the most important thing here i think is this. you have a consistent trend line of more jobs and more people being hired, and i wish mr. kudlow had hit on this, but you have to look in the dynamics of the numbers of the toughest jobs and toughest people to hire. if you look at indicators like people with disabilities, there's a consistent great story and trend line of more and more people being pulled into the labor market who were on the sidelines. i think that's a great sign. then you have to ask yourself does this 200,000 number align with the policies that are still being put in place, deregulation, lower taxes, and a push to take the foot of government off the back of opportunity. i think i

markets hit session lows since larry kudlow said the president is not satisfied at all with the china trade talks, and tariffs are coming quote, soon. you get to define soon but it may come in this hour. we don't know. >>> florence has exited stage left and has left 23 dead. the region submerged in trillions of gallons of water. some forecasts say the worst is actually yet to come as businesses struggle to reopen shop. could companies have avoided the damage? we will introduce you to a company that formulates a battle plan for businesses before the storm in order to dodge mother nature's worst punches. >>> apple's latest disruption giving the medical device industry heart palpitations as the new watch comes with an fda-approved ekg. the chairman and ceo of stanley bergman distributes hospital quality ekgs and is here in a fox business exclusive. >>> and news of a brand new generic for those who suffer from migraine headaches. i know a lot of you do. >>> the ten-year now back above 3% while the s&p, it looks like it might miss a five-session win streak. less than an hour to the closing

. >> earlier this woke we saw larry kudlow, the national economic adviser talk about optimism about the trade deal. and the president comes union and shuts it down. and to me i think this has -- it's going down a parallel path with everything else you just mentioned about the manafort things continuation. we have increasingly compromised president. and therefore it goes back to what we are talking about when guy says, the chinese they don't have to actually blinch right now. they can wait and see it out a little bit. >> i would argue, dan, whether the president is compromised or not, the i don't want to opine on that. the guys putting in place in the trade policy they are going no where. this is a group of guys waiting to do this to china a long time. i think there are elements what is going on that makes sense. >> the irony is kudlow and unusualen don't want to do it. >> part of my point earlier is that who knows whether this headline that comes out about trade was anything more than misdirection, change of of the subject in the face of some pretty damaging potential headlines about th

in the next hour, larry kudlow, white house economic council director.. ♪ alix: it is that time of year, when students prepare to head back to the classroom. this week, we are hitting the books and learning about different aspects of education and what can be done to improve it. yesterday, we explored preschool education. today, we are zeroing in on education technology, which is changing the way students learn and how teachers do their job. david: on the forefront of that is john fallon, ceo of pearson, the world's largest education company. welcome. give us a sense of the role of technology in education right now around the world, but particularly the u.s.? john: i thought your piece on the student debt crisis was important because that is at least in part a college completion crisis. americans over the age of 25 who have started college but have nothing to show for it in terms of an associates or bachelors degree. one of the things i think education technology can do is help more students be successful. how do we do that? we make the whole experience

larry kudlow saying he has advice for china, saying just say yes to something. still, the chinese have not taken steps to protect u.s. intellectual property or lowered their trade barriers even though the u.s. has been very specific about what it wants. u.s. negotiators have been trying for quite some time to get the chinese to sit down to talk. so far, they have just been talking and the talks have been complaints and retaliation tariffs. john: thank you, edward. with me is mike lee and "wall street journal" editorial page assistant editor james freeman. mike, i want to start with you about the tariffs. the market does not seem to be reacting. this is not in the grand scheme of things, if you are a farmer having to have a $12 billion government bail-out or you work for a newspaper in tampa bay where you are being laid off, i'm not diminishing that, but talking about the trillions of dollars you are bringing into the country, you are only talking about $200 billion, less than 10%. is the market not reacting to this because they think there won't be an escalation

white house economic adviser larry kudlow says the u.s. is ready to negotiate a trade deal with china but only if china is prepared for serious talks. the president's view is not to destroy the chinese economy we're not trying to put them out of business we're trying to get them to join the international trading nations world and be a citizen and abide by the rules for the first time in some twenty years i think the chinese you know may find themselves more isolated if they don't come into the global process and if they don't provide new information and begin to say yes to the ask president from oh let's get the view from china then scott hardly a lie first there in beijing so scott just picking up on what the senior economic adviser larry was saying there that the the hope is that this is going to try to get china back to the negotiating table on trade but it's a debatable point whether whether it's going to have that effect. highly debatable if you will because the indications coming from china even before monday's announcement in washin

esther kudlow did not want to talk about that yesterday. in 2008 -- mr. about that yesterday. policymakers must confront the next downturn. they will have their hands tied while overall debt levels are higher than during the previous crisis. this is a surprising essay. why will the policymakers have their hands tied? is that were doing a great job. prof. roubini: on fiscal policy, we are running a $2 trillion debt. when the next recession comes, the fed will not have much headroom before the next recession. -- it will not be enough. it is going to be difficult. backlash. populist and all thetell out tools will be much more constrained with an overall debt level higher. tom: the one that is immediate is yesterday mr. kudlow made clear he believes you can grow your way out of the deficit and he cited not once but twice in his conversation, that they already have modeled out new trupian growth that will be in growth that will bring in money. what does history tell us? prof. roubini: reagan tried ambush tried it. look at the latest numbers. the deficit since

kudlow did not specify which entitlement programs would face cuts. he blamed previous administrations for expanding food stamps. he claimed tax cuts would eventually reduce the figure. >> entitlement reform. i have not heard about that in recent years. >> a problem for democrats and progressives who see so much as a way to cut taxes for corporations and cut benefits for people. >>> ahead, north korea says quote gangster logic by the united states is slowing denuclearization talks. the third summit of the year happening right now between north and south korea. will it ease concerns? we are live in seoul. what do harvard graduates know about cognitive performance? as you'd probably guess, a lot. that's why a new brain health supplement called forebrain from the harvard-educated experts at force factor is flying off the shelves at gnc. forebrain's key ingredients have been clinically shown to help enhance sharpness and clarity, improve memory, and promote learning ability. and now every man and woman in america can claim a complimentary bottle. just use

mean of the dumbest things you should be doing. >> they should put a gag on kudlow. every time he walks prases the press he's got something to say that's not relevant. today he's going to quos us five or six seats here. they have their issue. lou: should the president grab him by the nape of the neck say get out there, tell them you're sorry and you didn't mean what you said? >> he better clean up the story tomorrow, otherwise it's out there, alive and well. it's what paul ryan wanted and at the end of the day the votes aren't there for it, the voters don't want it, the republicans don't want it. the president is going to pay the price for it. lou: restoring the international trading system to a healthy balance, stopping the rape and pillages of america by the chinese and whomever else want to perpetuate our deficits forever. and then everything that's going right in the economy and then this happens, it's annoying as the dickens. >> it's the mark meadows -- the director is basically the guy, mulvaney, the guy that makes the determination on what's going to be in the

your castro live for us there in washington thank you now top white house economic adviser larry kudlow says the u.s. is ready to negotiate a trade deal with china but only if it is prepared for serious talks. the president's view is not to destroy the chinese economy we're not trying to put them out of business we're trying to get them to join the international trading nations world and be a citizen and abide by the rules for the first time in some twenty years i think the chinese you know may find themselves more isolated if they don't come into the global process and if they don't provide new information and begin to say yes to the assets of president. of syrian state media says its defense forces have into cept a number of missiles fired at the coastal city of latakia they were targeting a state run industrial compound but it's not clear who launched the strikes but israel is expecting it's thought to have been a suspected well it's sort of been behind a series of strikes targeting iranian and hezbollah forces that have joined syria's war fighting alongside the government stephanie

could make you big money. >>> and larry kudlow at a speech at the new york market club.t" starts now.

kudlow say that the wto is dysfunctional. we have heard the president criticize the wto.w why the administration is deciding to trash the wto at this moment. the u.s. and china have now taken their dispute largely outside the wto, but let's not forget that the wto has 160 plus member countries, it governs our trade relationship with a lot of countries around the world. it has succeeded in bringing down tariffs and nontariff barriers and has created a lot of trade rules and for a lot of u.s. trade, that has been good. it does not help the u.s. to be seen as trying to undermine the system or talk it down. we should be saying that china needs to live more within the rules and that is what this dispute is about. david: in fairness to the president, the wto has not helped sort this out. a quote now from what the president said yesterday. he said for months we urged china to change these unfair practices and give fair and reciprocal treatment to american companies. we have been very clear about the types of changes that need to be made but so far, china has been unwilling to ch

. >> karen, kudlow today economic love and speaking to our becky quick today, he said they're just waiting on the chinese coming to the table. as guy said, there's no indication they're ready to do it >> one thing that really disturbed me today was saying a lot of money flowing into the coffers. i hate that trump looks at the trade war that way to me it is just a tax on the consumer somewhere along the line we're getting taxed. >> what's the former larry kudlow used to say before. tariffs are a tax. >> right he's not controlling the tax conversation, it seems i'm not opposed to the idea of having a better trade policy i'm not a fan of tariffs we seem to have such a haphazard policy, that it's really hard for companies to know what to do so to me, that rightfully should be weighing on the market. >> office depot today talking about consumer end products. the cost of chairs, for example, going up significantly as a result of the tariffs we're seeing there is a broad impact. the bigger question is what's the market going to be, the multiple, how is all of that impacted >> we haven't seen the

joining us from the white house is larry kudlow, national economic council director. sir, thank you so much for joining us. how would you characterize these talks? >> well, it is just an invitation as far as i know. there is some discussions and information that we received that the chinese government, the top of the chinese government wished to pursue talks. melissa: okay. >> and so we, secretary mnuchin who is the team leader with china, has apparently issued an invitation. i can't give you many details because there aren't many details but, you know, melissa, i always believe in most cases talking is better than not talking so i regard this as a plus. melissa: how do you regard the rest of the trade talks going on right now? how would you characterize what is going on with mexico and canada? we get these reports in bits and pieces, as you well know the market is hanging on every word. >> mexico, we basically have an agreement in principle i think will last. that came together what, a week or so ago, 10 days or so, give bob lighthizer and jack christian a lot of cre

larry kudlow makes an interesting point, we get into this on trade and all these other subjects, theass are making more and blue-collar is making more. what you make of it. >> it goes to show you the economic policies that are in place are working. there is a full on trickle down effect going on were you mentioned the poverty rates. look at minority unemployment. look at youth unemployment. virtually at all-time lows. it just goes to show you, in an administration that embraces small business, big business, capitalism, the consumer itself, it just goes to show you how much wealth can be created not just at the high-end but for all american. >> there was a debate or is won this week, i guess maybe it was more last week between former president. >> obama had some good timing coming out of the oh eight recession, but there was some speed going into the presidency that i believe he kept on the accelerator a little bit more. anyway you slice it, just look at the data. the economy is smoking, elon musk, joe rogan podcast. it's true. four-point to percent gp growth, all times high in consum

would make the announcement off the markets closed on monday top white house economic adviser larry kudlow says the u.s. is ready to negotiate a trade deal with china but only if aging is prepared for serious talks the president's view is not to destroy the chinese economy we're not trying to put them out of business we're trying to get them to join the international trading nations world and be a citizen and abide by the rules for the first time in some twenty odd years i think the chinese you know may find themselves more isolated if they don't come into the global process and if they don't provide new information and begin to say yes to the asps of president. castro is life for us now in washington and heidi what measure is the white house preparing to impose on china. these second round of tariffs have been long discussed trump asked his aides to prepare them earlier this week and so are expecting is an announcement that some two hundred billion dollars worth of chinese goods will be taxed by these tariffs somewhere between ten and twenty five percent now where ever of falls along that

all right heidi thanks for your castro in washington will top white house economic adviser larry kudlow says the u.s. is ready to negotiate a trade deal with china but only if it is prepared for serious talks. you is not to destroy the chinese economy we're not trying to put them out of business we're trying to get them to join the international trading nations world and be a citizen and abide by the rules for the first time in some twenty years i think the chinese you know may find themselves more isolated if they don't come into the global process and if they don't provide new information and begin to say yes to the ask president. let's get the view now from china is live for us in beijing so the u.s. is stepping things up here but as china has made clear in the pasta they have retaliatory measures of their own. exactly hauserman been characterized in the past is china's officials saying that they will not negotiate when a gun is pointed to their head referring to these tariffs and obviously they're going to respond in kind from what it sounds like there are indications that there is

larry kudlow then said oh, i didn't know what his views were, everyone knows what this man's views are. and i think that one conclusion we might want to draw from this is that this is a white nationalist administration. not everyone in the administration is white nationalist, but it's certainly an administration that has white nationalist policies, white nationalist sympathies, the president regularly employs white nationalists and outright white supremacist rhetoric like when he tweeted the lie about a genocide of white farmers in south africa and directed the state department to then investigate this white nationalist conspiracy theory. there are, i would wager, more outright white nationalists in this administration than there are black people. >> ian smith was a political appointee. this was not someone in the civil service, obviously? >> that's my understanding, yes. >> and so you've got a -- you've got people -- people think about who is in the white house but there are all kinds of people in the agencies and sort of at the top of the agencies that are the political folks. it's e

that was larry kudlow on heels of breaking news. he poured cold water in a sense maybe they're coming back but we're under no pressure and we're not asking for this meeting. what is your impression of that situation? >> that's great. it was a good interview with national economic council's larry kudlow. i do think that china is kind of waiting this out right now even though their economy is taking a big hit, their stock market, for example, is down in bear market territory, about 20% this year. the yuan, their currency is collapsing and they have to save face. president she is in power for -- president xi is in power for life and they want beijing to know that he has the upper hand. the u.s. ultimately has the upper hand noted by whose economy is really weakening. >> keith, that was impression i got from interaction. china wants to come back to the table and that the negotiators on our side, all right, we'll sit down again but we're under no pressure. what do you think? >> you know, i think that is a very calculated risk and a huge

larry kudlow then said, oh, i didn't know what his views were.ryone knows what this man's views are. i think that one conclusion we might want to draw from this is that this is a white nationalist administration. not everybody in the administration is white nationalist, but it's certainly an administration that has white nationalist policies, white nationalist sympathies, the president regularly implies white nationalists and outright white supremacist rhetoric like when he tweeted that lie about a genocide of white farmers in south africa and actually directed the state department to then investigate this white nationalist conspiracy theory. there are, i would wager, more outright white nationalists in this administration than there are black people. >> ian smith was a political appointee, right? this was not someone in the civil service, obviously. >> that's my understanding, yeah. >> so you've got people that are -- people think about who's in the white house, right? but there are all kinds of people in the agencies and sort of at the top of t

. >> we signed the -- larry kudlow got the deal. it's done. >> we have to see what the deal is and what it isn't. i'm not saying he won't get things done. i'm saying i don't authentthinkt to score him on that basis because he's been making a lot of noise on it alone. the economy, the numbers are what they are. >> that's not noise. you have the lowest unemployment. >> i'm not saying that's noyes. i'm saying on trade, that's noise until he puts it to paper. >> a book like bob woodward's in my mind is a distraction. it's a disportion. i speak to a lot of people in the white house. i'm friends with larry kudlow, john bolton. nobody is saying what i'm hearing out of that book. nobody is saying -- i believe -- again, this is old news. there was a lot of turmoil in that administration the first six to eight months and i think there was a couple reasons for it. first of all the president was new to govern. he had never done this before even though he had been a great businessman. second, i think reince priebus was not the best chief of staf

it's still navarro the last time larry was on, larry kudlow, he talked about the chinese. low-level talks, low-level talks -- give me a break don't trade like that. >> there's been a lot of selling, as we've said dom chu is looking at the emerging markets really, dom, it's been an ugly picture for the balance of the last couple of weeks >>> you go back to a year, even the last six to nine months, and it's been terrible you look at the markets, the etf, the shares, the etf, if you look from the highs, we were a plus 50 at one point now we're hovering at 41 this widely traded etf is why people are focused on whether there's value in place three of the hot spots we want to focus on here are not necessarily the biggest ones out there but they've been getting a lot of attention a $300 million etf off by about 32% three months alone. one of the epicenter issues. there may abbott om out process. another one is the fxi you can see down 15% over three months very steep down trend. over the past week perhaps a little bit of a move last week down 1%. another one is indonesia as we ta

larry kudlow will be joining the surveillance team after the u.s. jobs report that 2:30 p.m. u.k.you are watching in new york. with the threat of further tariffs on chinese imports hanging over markets, this is going to be a great time to hear from larry kudlow and indeed with that op-ed in the new york times as well. let's get a check on the markets. the euro stoxx 50 pointing higher. something has turned sentiment a little bit. u.s. futures point higher. nasdaq futures point to something that looks flat. a turnaround in sentiment the last half hour. there was a selloff in technology stocks yesterday. we will get the job report data later in the united states. next.ean open" is up ♪ guy: friday morning, good morning. welcome to bloomberg markets. this is "european open." i am guy johnson alongside matt miller, who is in berlin. matt: asian stocks continue their decline dropping on worries about emerging markets and the outlook for tech earnings. although we have seen mainland china stocks start to rise, futures look good for us in europe. cash trade is less than 30 minutes away.

larry kudlow is right, the economy is booming, when you look at the rate of unemployment, all the jobsed, the economy is very, very strong and people normally do vote their pocketbook. with the exception of the manufacturing sector which has taken a little bit of a hit last month, you really haven't seen across the board a huge it impact of the president's trade wars that being said, democrats are still likely to win the house in november not just because of anti-trump but also because in a state like pennsylvania that all the congressional districts were redrawn by the supreme court so, you have a number of districts now that are democrat that before were republican. so, you'll see a rise in the number of democrats, certainly from the state of pennsylvania, but nationally i think democrats will win at least 24 seats, maybe as many as 30, 33. >> those districts were redrawn because the court did not approve of the way they had been drawn, presumably in favor of the gop people joe, i want to take -- take me inside a white house and we know there are internal rivalries and knife fights a

>> reporter: sue,od earlier white house economic advisor larry kudlow said presdent trump not satisfied with the state of the talks with china so far, however, he said they remain at the negotiating table. they were waiting for china to comek and discuss these issues with them, however, one senior administration official saying that though the administration is unified,hina has been off of it. >> ylan mui in washington. long night. thanks. into the close amid those increasing trade tensions. steep lossesn some of the biggest tech companies also dragged down the broader market. the dow jones industrial fell to 26,692. the nasdaq was the hardest hit. it dropped 114 points and the s&p 500 was down 16. >>> and technology stocks are among the biggest laggards during today's down day in the market but, you know, the sector has cleareen leading this bull market higher over the past so.ade or and small caps, which are up 10% this year alone, have aayo a role as well. in fact, some say that group is even more attractive right now given these rising trade tensions globally. gary bradshaw is with

i'm friends with larry kudlow, john bolton. there's probably half a dozen people i speak to regularly over there. nobody is saying what i'm hearing out of that book. nobody is saying -- i believe, again, this is old news. there was a lot of turmoil in that administration the first six to eight months, and i think there was a couple reasons for it. first of all, the president was new to govern. he had never done this before even though he had been a great businessman. second, i think reince priebus was not the best chief of staff to start off on. i think now that's pretty clear. when general kelly comes in, you see a radical change in that administration, and i think the president -- you know, they all say he's fighting with general kelly all the time. i hear they have a great relationship. >> well, this is not the first time we've heard kelly accused or quoted as calling him an idiot or something worse or being completely disgruntled about what it's like to work with the man. >> how many times have you called a friend or family

>> i think it depends on which advisor the president -- of the --sident you talk to, larry: larry kudlowe president wants free-trade and this is just an attempt to get leverage which are long-standing issues, navarro whous peter is saying, no, tariffs are a long-term solution to change, the complexion of the global economy. romaine: are some of the issues like that -- intellectual theft they negotiated? publicly it seems all about the trade deficit. >> the sensible reason many of the tariffs are in place is because of ip theft and issues. romaine: the bright -- caroline: the president speaking right now. president trump: i would like to take our great vice president, president pence for joining us and bob lighthizer for his incredible efforts as he has worked very hard. thank you as well to treasury secretary steve mnuchin and director of national economic council larry kudlow. for their tremendous work. everybody has worked very hard. this is long in coming. many years, actually. moments, we will sign a document pledging that our countries will take the additional necessary steps to imp

larry kudlow will join us this hour 201,000 jobs added futures down, though, maybe on rate hike jitters ten year above 2.9 and the vix above 15 our road map begins with weed, whis,

larry kudlow had said we'll take a look at federal regulations for google. ajit pai, the chairman of the sec says social media companies should be more transparent and police this aggressively on their own. he did not abide any threats to that or he would do anything if the companies did not move to be as transparent as he wished as quickly as he wished. let's get the read from georgia republican congressman, buddy carter. he was busy questioning jack dorsey, will be i should say, later today. congressman, very good to have you. i guess touche to both sheryl sandberg and of course, mr. dorsey for appearing. are you upset and angry at some of your senate counterparts were that google didn't send larry page? they offered some higher-ups but the committee refused. if it wasn't going to be the big gun they didn't want to hear? >> i think they do owe us an explanation. the united states congress wants you to appear before them. nobody is above that. and, certainly we need an answer response. i think it is very irresponsible of google not to send their chief execu