we ask larry kudlow, live only on fox news sunday. for the first time in light off the party 2020 front runner pre- >> i do not praise racist. >> you've agreed today that you are wrong to oppose in america. >> i did not oppose an america. >> how badly has joe biden been damaged and is the field will be too far to the left. we will have an exclusive interview with democratic party chair tom perez. we will ask the panel who won the first debat and how it will reshape the democratic race. the power player of the week, the new archbishop of washington on moving beyond a crisis in the church. >> the past is real, it's painful, but the future is also possible and hopefully very positive. >> all right now on "fox news sunday". chris: hello again from fox news and washington. president trump has wrapped up his trip to asia. with a handshake with kim jong-un, a walk into north korea and an agreement to revive nuclear talks. all this just a day after hitting the reset button with china. in the ongoing trade war between the worlds two biggest ec

kudlow actually just completely contradicts him on that. this anti-immigration thing has gone way too far. for example, we'll take a break but let me get this in. for example, donald trump is blaming the government of mexico, several times, for sending us these terrible people. first of all, the government of mexico has nothing to do with sending us anybody. let's remember this, before we get so protectionist, the united states and mexico have very close relations. they're an important partner. they're our second biggest export market, our third biggest trading market after canada and japan, and china, rather, and literally -- literally millions of americans go to mexico for tourism and vacation. >> he's right about that. >> it is harsh stuff. and i talked to kudlow a couple of days ago, and talked to him on the phone and it was funny because i read him the clips and he said, that was then and this is now. >> so he's changed his tune. >> and then he said well these were hypotheticals. we don't know how the tariffs will work with mexico and

i think larry kudlow will help alleviate a lot of those concerns. of course, selling informational services into, you have to go through the commerce department in order to get that license as long as it's not national security, that's going to leave you with some concerns but the president gave up a lot and doing that but i think overall, the market will appreciate what's going on here and i do think the president is moving in the right direction, a great love between the combination of north korea and the progress with china because if you're ultimately going to get a deal, they have to be involved in that decision. >> chris: the deal to lift at least part of the band from selling goods to the chinese telecom huawei, huge, giant telecommunications company in the chinese very upset when they banned all sales of u.s. technology to them. that apparently was the price of the president had to pay to get the chinese to resume the talks. >> once you open that door, it's hard to close it. there's a very fine line even in the technology of figuring out wha

i think larry kudlow will help alleviate a lot of the concerns. of course selling information or services into, but you have to go to the commerce department in order to get that license in as long as it's not national security, that will alleviate some concerns. but the president gave up a lot undoing them but i think overall the market will appreciate what is going on here and i do think the president is moving in the rejection. integrate combination with the progress with china. if you're openly going to get adela north korea it's going to have to involve the chinese. they're going to have to be involved in that decision print. >> the deal to lift at least part of the band on selling goods to the chinese telecom huawei, huge giant telecommunication company in the chinese very upset when they banned all sales of u.s. technology to them. that apparently was the price that the president had to pay to get the chinese to resume the talks. too high of a price? >> maybe. when she open the door it is hard to closer. there is a very fine line even the t

consumers pay and kudlow says yes to some extent. i don't disagree with that.ows what his answer was because kudlow has been on cnbc. >> a professional lifetime. >> you and i could take an hour of your show tonight if we wanted to and play larry kudlow's punditry and his time in government back in the reagan years, we could play it all out for an hour, more than an hour, we could play an hour and find an hour's worth of clips kudlow saying tariffs are bad economics. if we impose them, they have negative ekes on u.s. consumers, u.s. consumers pay for tariffs, not to a large extent bud entirely. yet, like so many alleged free market ears, so many business people, so many republican who have built their entire ideology on the ideology of free tariff anti-tariff causes over the course of the last 30 years in america, all of them like well, if trump's for it, gi eseverything i said before is no longer operative. it's a joke. >> what about the trump voter, they have learned china is a pretty big soybean buyer and how dependent on trade the agriculture sengter is. tru

kudlow deflecting that speculation. meanwhile breaking news just moments ago. cbs said to be formulating an offer for its sister company viacom. this is renewed push for a merger. efforts to get a merger of these two companies. weeks, representatives of cbs and viacom have already had preliminary discussions. cbs directors discussed prospects of a deal at a june 14th meeting. expectations that there could be a union of these companies is speculated about a lot. we're getting headlines just now as this is happening. cbs trading up a little bit here in after-hours trading. back to you guys. melissa: getting a lot of different headlines, gerri. those coming from the president, speaking with reporters right now. here is the preliminary version of what we're hearing. he did not ask acting defense chief shanihan to withdraw. he heard about the allegations exploding all day regarding shanihan. he heard about those on monday for the first time. we'll have a lot more coming from that little press impromptu back and forth just as soon as we have it. connell. connell: we'

three years later, kudlow is accepting a job in the white house. andrew kocin ski with us now.ade those comments after president trump launched his campaign. and you found other times kudlow was critical about the president's trade ideas. >> yeah, that's right. he made these comments in june, july and august of 2015. trump had just launched for the presidency. and it really was kind of cud low's main critique that the president's trade policies, it was even worse than that clip we just watched. he said it could lead to another bad recession, it would cause all this horrible damage to consumers and businesses, and he even linked it to the great depression, to tariffs that were installed in the 1930s, saying high tariffs equal high taxes equal depression. >> that's not all. he also said this, this is a direct quote. how is this guy going to negotiate with anybody, whether it's china, whether it's vladimir putin, whether it's the moolahs, he can't even get the story right on mexico. so, you found he was highly critical of trump's immigration policies and trump's criticism of mexic

. >>> before larry kudlow became the top economic adviser, he was something of a pundit.e issued a warning about the trade policies proposed by then-candidate trump. cnn's k-file found this from the radio show in 2015. take a listen. >> you slap a 25%, 35% tariff on our leading trading partners like mexico and china, we may not like them, sir, but tariffs and protectionism is not the answer. it will do inicalculable damage to the american economy. >> incalculable damage to the economy. the president is proprosing a 25% tariff against mexico. laura, let me start with you. this, i think, whatever larry kudlow says today, reveals why so many republicans on capitol hill are really, really worried about this threat of a tariff. they agree with what larry kudlow 1.0 that it will do damage to the american economy. >> yes. and republicans know that this is also not a political winner for them. studies have known that in republican-leaning counties, tariffs hurt people there the most. in those states that are going to be key to trump winning re-election. so that's why i legitimate

we ask larry kudlow, live only on f

we'll talk with top white house economic advisor larry kudlow. congress finally agrees to give the trump administration nearly $5 billion to help with the migrant crisis at the border. senate judiciary chairman lindsey graham weighs in. plus, democrats face off against democrats. [overlapping speakers] >> i am the only candidate here who has passed a law protecting a woman's right of reproductive health. >> hey, guys you know what? america does not want to witness a food fight. they want to know how we're going to put food on their table. >> brennan: we'll talk with two presidential hopefuls who took the stage. minnesota senator amy klobuchar and former texas congressman beto o'rourke, all that coming up on "face the nation." ♪ ♪ good morning and welcome to "face the nation." we begin today with cbs news white house correspondent who is in seoul, south korea where she has been covering the president's historic visit to north korea. >> good morning, margaret. the suspense over whether president trump and north korean dictator kim jong-un would mee

i was the one asking larry kudlow that question in that clip that you just played.t you heard him saying was the classic, you know, washington nondenial, denial. he is saying on the one hand that story is six months old and he almost caught himself. he said it happened, it allegedly happened six months ago but then saying he is not going to confirm or deny whether it ever happened. the important point he says is it is not happening now. right? so they're not denying necessarily that it happened six months ago but they're simply refusing to confirm it and sort of trying to move past this with the idea this is old news. but it would be unprecedented for a white house to demote a sitting fed chair for any reason whatsoever. there is some question about whether that is even legal or not. the law says the president can remove the fed chair for cause, quote-unquote, but doesn't define what cause means. everyone has always assumed that means you failed to show up for work or did something horrible. in this case the white house was looking at demoting him to a regular membe

larry kudlow was just out here on the driveway gaggling with reporters. asked him about that reporter thatted a occurred earlier about the report of demoting jay powell he did say that they are not considering any efforts now to change jay powell's status larry kudlow was also asked extensively about the president's phone call with xi jinping and just said that he believes it's better to be talking than not talking he's glad that they are talking. and finally, i ask him about the president's tweet about the german dax the president suggested that the draghi comments were driving the dax up and that was unfair larry kudlow said that the president believes that there is a policy, he called beggar thy neighbor in place in certain parts of europe and they want that to stop >> eamon, thank you. >> you bet >>> still more to come on this morning's rally still ahead, but beyond meat turning negative just a moment ago. down more than 16% from its highs of the day but still up 34% for the week we're backft aui bak aer qckre (osamah) cancer is... the ugliest disease

after larry kudlow went on the air shooting that down, the do you finished down.o it's a mixed day. the tale will not be told until the two leaders meet and that won't be until about 36 hours from now, neil. don't hold your breath. keep a close eye on what's going on in osaka. >> neil: you never sleep, john. >> shepard: i'll sleep when i die. >> neil: i hear you. meantime, you think this isn't a big deal in a lot of democrats in the next debate say when it's come to china, yeah, it's a big deal. >> the biggest geo political challenge is china. >> economic threat, china. >> china and climate change. >> china without a question. they're wiping us around the world economically. >> neil: that is in stark contrast to joe biden when he first said they're not really competition, not really a threat. he's changed his mind on that. iowa republican senator joni ernst was saying that the president needs to hold firm on this. >> soy bean farmers in iowa, one of the largest hit groups. they're sticking with the president on this. they have told me that the pain they're feeling

in the american economy, joining us is national economic council director and cnbc friend, larry kudlow, always a pleasure to speak with you. >> thanks, melissa appreciate it. thanks for having me. >> i want to ask you about what the president said earlier, and that's because he believes china wants to make a deal but it's got to be a great deal do you view this as a pivotal time for the u.s. economy, given what has happened in term of the slight downturn we saw in the latest reading >> actually, i think the u.s. economy is very strong and i wouldn't put my stock in one month's jobs number. there's, you know, lots of other evidence on jobs and wages and nfib and ism reports 3% growth this year. on the china point, the president said a couple of times in recent days the g-20 meeting in japan, i'll be there, looking forward to it and see if we can make further progress, but that phrase, it has to be a great deal for the u.s. look, we were about 90% home on what we thought was a very promising potential deal this was now almost a month ago when the chinese shocked everybody and started pul

larry kudlow saying it's a six-month-old story because it allegedly happened in february it's alleged and he's not going to confirm whether or not it happened but he's going to confirm it's not happening now kudlow, who would have been presumably in the loop in this in february if this was going on, not willing to say that it did happen but willing to say that it's not happening right now and they're not going to make changes at the fed. some question among experts of whether that's even legal. the law allows the president to remove a fed chair for cause but there's a great debate over what exactly for cause means does that mean he has to quit showing up for work or do something terrible or does that mean if the president doesn't like his policy on interest rates, he can remove him that seems to be a gray area right now. >> thanks very much. >> powell under even more pressure to cut rates following talks of easy money emanating from europe, and steve liesman joins us with more on that a lot to talk about, steve >> yeah, there was an interesting chain of events this morning that unfold

now at this hour via the president's top economic advisor larry kudlow, kudlow is saying that at this point quote, we not taking any actions to change his status, meaning of jay powell but of that report that the white house explored the possibility of demotion earlier this year, kudlow would not necessarily deny that portion of it. listen here. >> that story is, i'm aware of it and reason i'm not going to comment it is a six-month-old story. >> [inaudible] >> allegedly, allegedly. >> [inaudible] >> i'm not going to confirm or deny anything. i will not comment. reporter: did it happen six months ago allegedly? he said he will not confirm or deny it. there are couple different issues. the idea of demotion, legally the president of the united states cannot demote the chairman of the federal reserve. of course there is also the issue of firing which is separate from demotion. now for a fed chair to be fired there has to be cause. the president not liking the chair of the federal reserve's interest rates policy is not cause for firing. when i asked larry kudlow if the white house sort of

larry kudlow says there will be consequences if china does not meet president trump at the g20.m slashes its forecast. in extended trade. welcome to "bloomberg daybreak: europe." we are just under an hour away from cash equity trading in europe. global equities with a weekly gain and u.s. equities as well. we thought green on the screen yesterday. today, muted. ftse 100 futures edging higher. dax and cac 40 futures flat. a little but a prevarication at the end of the week. the 10 year treasury yield continues to move lower. we are on a 2.08 handle, down one basis point. yesterday, we send the tenure 10-year btp- yield. we could be there again, judging by the futures. -- not necessarily risk off. we are looking pretty flat on a headline level. >> flat. not seeing much direction either. we are mostly lower. even for asian stocks, we are set for a second straight week of gains for asian equities. keep in mind, we are waiting for key data out of china. retail sales, fixed asset investment as well as industrial production. not much appetite to buy on these dips large caps down. . mum

comment onl, let's what larry kudlow said. we reported earlier, according to people simply with the matter, that the general counsel of the white house looked into how legal it would be. is it still a possibility? >> it never gets born with president trump. this is another one of those examples. have clear,he two distinct views on the economy, the best interest rate path is for the economy. is under a fair amount of stress and pressure these days to shift his views a little bit more dovish weight. it would be vice chair clarida who thinks the same way, if powell were out of the picture. >> we have been highlighting, the trump rent of powerllll, clarida, and another, they have a strong view of the economy. support that,not but they have been stubborn in letting go of their views. they may shift abruptly. chair powell has signaled in the past when they do get outside, they do tend to move abruptly and quickly in the other direction. vonnie: you are made the head of rate strategy a few months ago. it is a fun day, between mario d

larry kudlow, thank you so much.

to discuss that, let's bring in chief white house economic advisor larry kudlow. welcome back to fox news sunday. >> thank you chris, i appreciate it. >> what has the u.s. and china committed to as a resume the stocks and is there a deadline for how these talks will go on? >> first point is to resume the talks as president xi continuing the talks which have been interrupted for a while. it is a very big deal. i think that is a banner headline from this. i think everybody is going to be pleased at that, no promises, no deal made, no timetable, i want to emphasize that, president said several times, this is about the quality of the deal, no timetable, no rush, he is comfortable where he is in any case. i think coming back we will resume the talks, the two teams will begin together in tariffs will not be race, there will be no lifting of tariffs, on the remaining 300 or $325 billion and that is an important concession by president trump. and we also expect the chinese, while the talks are going, we expect the chinese to begin large-scale purchases, imports of the u.s

kudlow, the dow is up 95 points here's what else is coming up on "the exchange. >>> coming up, from fake meat to hiring artists to cybersecurity to pet food. the ipo parade keeps going at what point will investors no longer buy into money-losing companies? plus, pay the premium. that's what one analyst says about the homebuilders right now. he'll break down why >> and the one area of the retail market that could be ready to see a price spike >> this is "the exchange" on cnbc sales, supply chain, inventory - ♪ ♪ it needs to track it all, from cincinnati to singapore. ooo! ♪ ♪ and protect it all. customer records, our financials, they better be secured. but i also need easy access, to manage data across my clouds - no matter where it lives. ♪ ♪ so if an auditor shows up, i can be a step ahead. that's the cloud i want. is that to much to ask? expect more from your cloud. ibm cloud. ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. no matter what you trade, at fidelity mno kidding.rd. b

all of a sudden, you have larry kudlow saying they may still be on the way >> it's impossible to predict at this point this is going to be about the personality of donald trump in the room with the personality of xi jinping to see what comes out and whether or not we get this truce that's been possibly telegraphed, right if we get that truce, i think the market is happy with that. yes, they would like something much bigger. but to fred's point, he's right. this is a generational shift we want the chinese to be different than they are. >> right >> which seems unrealistic >> yes >> and, fred, i also wonder if -- and this is where they had an interesting point in the column maybe our approach to huawei has not been the right one the better way should be to entice them into our markets and use that as leverage as opposed to banning them. regardless, that chip is on the table and the chinese want that situation fixed. should the u.s. allow for them to be operating like normal here >> hank paulson, former treasury secretary, wrote about this in the financial times. he says the u.s. has the whe

i expect lighthizer, may be larry kudlow, and maybe john bolton. that is interesting when you have larry kudlow, who is a more gop establishment, and then john bolton, who is a hardliner and expects china to come very far to the american demand. that does not seem very realistic. and how much will the president give, face-to-face with the xi,ident -- with president and will that hold as they leave whatever room they are in and their staff gets back to the business of trying to implement anything they come up with? these deals are so complicated that the devil is in the implementation. you want to verify certain things. and the chinese are not exactly open when it comes to verifying anything that has to do with their economy. place weat is the one are seeing republicans, especially republicans from rural states, wanting to put pressure on the president in terms of the trade deal. joni ernst, who is up for reelection, has been critical of the president, wanting to see movement, because she says her constituents are really hurting by the tariffs. you

stiffer tariffs on chinese imports if negotiations remain deadlocked by house economic adviser larry kudlow says there are no pre conditions. oh it's moving to the aviation sector here southwest airlines is extending the cancellation of flights due to the grounding of boeing $737.00 max planes until october 1st the airline said it made the decision before the f.a.a. a federal education authority identified a new potential rist regarding the planes united airlines had earlier stated that is was extending cancellations into september the $737.00 matches grounded worldwide after 2 deadly crashes within a matter of months. it remains very much on certain when one of these planes will take off again. boeing has been trying to get its global fleet of 40737 max plans back in the air since march when every airline regulator in the world grounded them following devastating accidents involving the model in indonesia and ethiopia. continuing on certainty over the safety of the plan has delayed the return and now there's more bad news for the u.s. plan maker. test pilots for the u.s. federal aviation a

larry kudlow -- alex: currently is doing a lot of work.e: he says it is a six-month old story and the white house is not considering any commotion, which is a good thing considering jay powell is conducting fomc meeting. be interesting to see what happens post 2020 if the president wins that election. let's get more on the markets and figure out what has been going on. bloombergs kristine aquino joining us on set in london. you've not had a chance to positive her breath today. let's talk about -- to pause for breath today. let's talk about mario draghi. i'm assuming by the reaction he must be more dovish. >> it does seem that way based on the reaction. expectations were already very dovish heading into the speech. there was a consensus, even with markets live, we were thinking markets might be shrugging because expectations were already dovish. it would take a high bar for mario draghi to surprise. it is a combination of the fact that it was mario draghi using the forum to express this view and also the timing of it, which is just before t

larry kudlow also threatened consequences of its own if china xi jinping doesn't meet with the president at the g20 summit even with xi jinping and unrest. secretary of state for political military affairs under bush 43, ambassador, very good to have you. >> hi, neil, thanks. neil: where is this going, easy sort of thing, large crowds amassing in the center of a city, you think square, 30th anniversary recently and now this, are the two similar or how would you describe? >> look, that situation shows us that the deal that was made when left hong kong it has been violated, the goal post has been moved. china is creating authoritarianism and we should never lose sight of the fact that freedom is the single most important thing that we represent, whether east asia or the gulf. neil: the chinese don't care what we think, they don't care how this looks across the globe much as they did 30 years before they became the super economic power they are today but that this might end quite violently? >> i don't know how it ends, neil, but my view of authoritarian regimes is the one thing that they ca

larry kudlow said people don't have to buy goods from china so they don't have to pay the tariffs and he's confident about the future of trade. >> the world's trading system is broken and president trump is the guy that's trying to fix it. and it's not easy. but he believes it will help, you know, america's long run. they are on the wrong side of history. we will win this battle. >> cooperate actions are beginning in some cases to prove him right. rh said it is moving production out of china to avoid paying tariffs. nintendo and google are looking to do the same. >>> the toronto raptors are nba champs for the first time in team history, the first time in canada's history. >> there's a new nba champion and it's a team from toronto, canada. we the north are now we the champions. >> toronto beating the two-time defending champions, golden state warriors 114-110 to win the series in six games. they are the first canadian team to win a title. kawhi leonard was named the mvp. the super star free agent to be averaged more than 28 points a game against golden state and becoming the first play

hampshire and our top economic adviser and great friend, i hear that voice, money, mup, money, larry kudlow. thank you, larry. few people in history have revolutionized economic thought and poll. he shaped economic reforms and helped turn the recession into an economic boom. and raised government revenue was to adopt strong and innovate create jobs and create greater opportunity and he has proved it over and over depean. t went on to earn his pfed from stanford university. and younger professor at stanford university. he is very deceiving. he looks like he is in his 40's. a little older than that. don't talk about that. in 1970, art severed as the first chief economist at the office of management and budget and economic model to forecast tax revenue and predict economic growth. university of the chicago. we remember in 1974, two million americans joined the unemployment hipes and inflation hit 11%. right now we have inflation at almost nothing. i like that better, don't you? [applause] good to read this and we realize how good. the consensus in washington on both sides of the aisle the gove

i understand why both secretary ross and larry kudlow are saying what they are. it's a very different perspective from china, which is that xi jinping was absolutely not prepared to come and meet with president trump until the deal was baked 100%. didn't want to negotiate didn't want the situation that kim jong un had where they talked in generalities and there is or is not something to sign now, what we just heard on that clip is if they meet at the g20 we're not going to have a deal for them to sign that the hope is they're going to move the ball during the meeting. the chinese don't want that. and it actually implies to me if you put that together with what we've seen from the americans with putting huawei on the restricted entity list over the last week, we're actually further from a deal right now than we were a few weeks ago larry kudlow's absolutely right. we were 90% there. the chinese did walk it back but since then it's actually gotten more challenging. >> so ian, despite that do you think that the effect on the economy has been a little bit less than w

attacks on chinese imports if negotiations were made deadlocked white house economic adviser larry kudlow says there are a no preconditions. for. whatever happens at this weekend's g. 20 that is feud between the u.s. and china is likely to redraw the global trade map nations like vietnam a benefiting as companies seek an escape from tariffs could african countries also benefit is reason for optimism plenty of challenges. the mumbai the nairobi railway at its opening in 2017 finance them built by the chinese have cut travel time between the cities by hours china has its own reasons for investing in africa it wants to expand its trade reach and it isn't alone foreign investment across the continent rosa levon percent between 20172018 new projects bring new opportunities for business not a bad thing as rising protectionism puts a dent in traditional trade routes another reason for optimism africa's free trade agreement becomes operational next month all but 3 governments have signed on if things go as invision goods and services could soon move between countries with less friction and that w

kudlow called it.t last week the harvard harris poll showed that a strong majority of the country support the china tariffs and 8/10 republicans, and do you know what? china is paying for those tariffs. they paid for those tariffs because they are exporting less to us. they are forced to lower prices, they are earning fewer profits, the chinese government acing the unemployment rate affected negatively, they are bringing in less tax revenues. not clear why they are digging in because they are clearly the ones being hurt by the terrace. lou: why would they not digging in? they have been robbing as the president says, this piggy bank blind for decades! to their immense benefit by the trillions of dollars and why is the president points out previous presidents put up with that, it is a shameless, shameless grossly negligent conduct and their responsibilities as presidents who preceded him. >> i think it is important to remind the viewers what the complaints are here. it is really the chinese economic aggr

0n the wall street journal, trump could retaliate if xi balks at trade meeting, kudlow says. economic adviser warns there could be more tariffs if china's leader doesn't agree to a face—to—face meeting at the upcoming g20 summit. quartz explains why hong kong's protesters were afraid to use their metro cards. it reports people queuing to buy subway tickets with cash so they couldn't be traced using their smart cards, and the data used to prove they were at the protests — one of the dangers of the growing cashless society. and business insider says spending on pets has increased by over $22 billion in the past ten years. that is an increase of more than 50%. the reason could be millennials leaving having children until later, and pampering their pets instead. and don't forget, let us know what you are spotting online. use the hashtag #bbcthebriefing. but before we go, here are the markets. a strange session going on in asia, struggling for a bit of direction, but the oil price continuing to rise on fears of global supply and what looks to be an escalating conflict and aggravat

but on thursday, president trump's economic adviser larry kudlow was quick to play down those reports the discussions and negotiations, tariffs, our economy is strong, their economy is very weak. perfectly happy with that. if talks fail, he said he will go to plan b which is another round of tariffs. if the talks do better, then perhaps, perhaps, we might avoid that. in the last hour or so, china's president xi has been addressing a meeting of the brics developing countries, brazil, russia, india and china. rico hizon has been following this for us. what did he have to say? that's right. victoria, he was in no move whatsoever for pleasantries right. victoria, he was in no move whatsoever for pleasa ntries and right. victoria, he was in no move whatsoever for pleasantries and only had soft word on the eve of his meeting of his meeting —— only had tough words on the eve of his meeting. he said some develop countries are taking protectionist measures that are leading to trade conflicts and economic blockades calling them the biggest risk in the increasing instability in the global econom

larry kudlow, the chief economic adviser talked about this earlier on fox.. >> there's no preconditions. i don't know where that came from. we're believe it's possible that if the meeting goes well the chinese will come back to the negotiating table and pick up where we left off in may where we completed roughly 90% of what could be a good agreement. >> the markets are looking forward to that they're up today. we don't know with those talks if they bear fruit or not. could be premature on the stock marked's part. trade is a big issue. the other is iran. the french president, emmanuel macron told reuters that he is going to bring up the subject of iran with the president during some of the plenary meetings and encourage the president to ease the sanctions against iran in order to bring them to the table. i don't know how he would react to that he figures he can squeeze them like north korea to bring them to the table. >> shepard: john roberts, reporting live. secretary kudlow mentioned a report, he said he didn't know where it came from. the "wall street jour

you mentioned larry kudlow.ington and he said today the president would be fine with the status quo. >> perfectly happy where we are, where he is and where the u.s. is in these discussions. we have tariffs, we are gaining revenues from the customs duty. our economy is doing very well. china's is doing rather poorly. reporter: remember, the last time these two met was at the g7 at the end of last year, buenos aries. all the talk going into that meeting was about tariffs, tariffs coming down the line and what it would mean. that meeting happened, then there was a pause on future tariffs. here we are, six, seven months later now, in japan at the g20 and all the talk is could there be tariffs in just a few days' time. these two are going to meet on saturday here in japan and i think either by the end of that late week, late weekend, maybe beginning of the work week, we will have a better idea of where this thing is heading. neil: thank you for keeping track of it all, blake burman. now, chamber of commerce survey ou

larry kudlow will be joining us to talk about those trade talks.o things stand, and a whole lot more, so stay tuned for that interview. an upward start. sharply unchanged. >> trace: it looks like all things are going -- >> sandra: what sort of conditions the chinese are going to put on a deal, a lot of talk about what happens with huawei. we will have a lot more with larry kudlow coming up. >> when you -- not doing great for anyone else, that if corruption, pure and simple, we need to call it out. can't make a living wage. it is an economy that works for everybody. not just the wealthiest in our nation. >> we have a system that favors those who can pay for access and outcomes. >> yes, we are supposed to be for free college, free public college for our young people. >> sandra: 2020 democrats on that debate, hammering president trump's policies, specifically the trump economy, saying it only benefits the ri rich. president trump calling the debates about a half hour in, "boring." kayleigh mcenany it joins us now. there is a lot of question about whet

chief economic adviser larry kudlow said people don't have to buy goods from china so they don't have to pay the tariff and he is confident about the future of the strategy. >> the world's trading system is broken and president trump is the guy that's trying to fix it and it's not easy, but he believes it will help, you know, americans in the long run. they are on the wrong side of history. we will win this battle. >> kudlow says the pain will shift to china not american consumers as companies move out of china and that's something that is slowly beginning to happen. rh, formerly known as restoration hardware, says it is moving production out of china to avoid paying for tariffs. nintendo and google are reportedly looking to move production out of china as well. >>> the toronto raptors are nba champs for the first time in team history. >> there's a new nba champion and it's a team from toronto, canada. we the north are now we the champions. >> toronto beating the two-time defending champion golden state warriors 114-110 last night in a terrific game to inn with the series in six games

white house economic adviser larry kudlow adding the president is happy with the status quo. >> he's perfectly happy where we are and where he is. in these so-called negotiations and talks. and if need be, we may move ahead, we may move ahead on additional tariffs. reporter: the chinese say a precondition for the meeting between president trump and president xi jinping is that no additional tariffs are added on chinese products imported into the united states. kudlow says there are no preconditions for this meeting and the president could go forward with those additional tariffs. the president indicating that might not be at 25%, it could be at 10% going forward, but the tone of the talks and how the talks sort of end up this week will be very telling, first later on today the two trade delegations will meet, then a day later on saturday here in japan, both president trump and president xi will have their meeting. back to you. susan: edward, thank you so much. let's bring in former u.s. ambassador max baucus. what's your reaction of these hard asks by the chinese president heading in

about the white house exploring the legality of demoting fed chair jay powell, here's what larry kudlow said about that a little while ago >> i'm not going to confirm or deny anything. i'm just not going to comment on it because it allegedly happened six months ago, and it's not happening today. and therefore, i have nothing to say about it it is what it is >> demoting jay powell how would that work? >> i don't know, honestly. bill, it's a great question. i don't know that they could actually do that i guess that's why they were exploring the legality of it, but you know, one of the reasons i might offer that we are the world's preeminent financial system is we have a very good and independent central bank, and a way to introduce third world volatility into the american financial system might be to play around with the fed's independence >> indeed. thanks, steve. >> a pleasure. >> see you later >> so the trade talks seem to be improving. europe is open to more stimulus. would fed chair powell give this market an extra jolt by cutting rates tomorrow as jim grant has forecast? or at least

there's a lot of ground here to make up, scott larry kudlow, speaking for the administration earlier this morning said that there are are no preconditions to talks this week and he said there's still a plan b if the two sides don't reach an agreement, that the u.s. would still go forward with the tariffs. hear it in larry kudlow's own words. >> if the talks fail he has said we will go to plan b which is another round of tariffs if the talks do better than that, then perhaps, perhaps, we might avoid that >> reporter: although we should note everyone involved in the talks knows that it's ultimately up to the president and what he decides to do behind closed doors in this meeting. of course there's always event risk associated with the president at events like this. we know the base case according to ubs, citigroup, deutsche bank, goldman sachs is all a cease fire, but no deal this week back to you. >> all right kayla tausche on the ground in osaka, japan, for us, at this hour jim, i throw it to you if you come out of this weekend with some sort of tariff truce, no new tariffs for some

we'll talk about it all and first cnbc interview with the point man larry kudlow an exclusive interview with david solomon we'll ask him about stocks, the future of banking and whether the economy can weather any economic storm when free is really expensive. how google and facebook could have avoided the scrutiny of regulation with one simple change all that is ahead this hour. but the markets, they're turning negative putting the dow seven-day winning streak in jeopardy let's get more of what is going on and maybe what happened with dom. >> we have some movement down in the overall market also shares of united technologies we'll talk about that in a bit the dow industrials off 60 points we were making a run of up 200 at one point and 186 at the high a similar percentage to climb for the s&p 500 off by one quarter of 1%. so, fairly moving to the evenly kind here in the markets the technology sector and the communication sector over the course of the past week. two to watch look at that gap between the two of them technology and the white line the best performing sector in the s&p 500 gi

maybe the kudlow view and that of others -- >> i agree with that >> -- is that all of this stuff, people get too negative on where the economy is and everything is going to be -- >> the other thing -- >> two major events coming up in the next week and a half, right? the fed meeting and then the g20. so, you'll have one and i do think the fed does not cut at their meeting next week because, yeah, you've got nine bullets left, but you're still at historically low rates and they're not going to cut down to zero, i don't believe, unless you see an '08 so where are you going to go? and then the overriding factor, which will trump the fed, will be what happens at the g20 so, you'll have plenty of opportunity to take advantage of volatility and buy don't be fully invested now. >> i agree with you. >> i agree with that and i also think people are failing to recognize that summer months are some of the lightest liquidity as well so the market -- >> that cuts both ways, though >> it does, it does, but i think if you were someone who's fully invested and you're worried about it, don't make a rash d

larry kudlow came on earlier. he shot down those ideas. were you think are with this?s probably better than mine, in fact, melissa. it seems like you in a few weeks ago there was progress being made. that is the word of the white house. i think the hope of atrophic administration, the president, is to get a good deal. i think that would be hughley hy helpful political he. we can put some of these economic uncertainties behind us. if it is true, i know kudlow denied it, but if it is true that they are saying that we are not going to talk about anything until we take the huawei issue off the table and reinstate some of that, i think that's a topic really hurting the chinese. it seems like a pressure point for them. if the president took is a good negotiator, he will put us them on the pressure point. >> melissa: i read an article in "the wall street journal," tomi, talking about the fact that why this isn't hurting as much is it because it is because there's a lot of cheating going on through vietnam. as usual, the market is finding a way to deal with this. that is that