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you've worked with larry kudlow. do you believe him when he says justin trudeau stabbed the u.s. of these negotiations? >> i consider larry a good friend. i've known him for almost 30 years. no, i don't believe him. i'm also a little worried he telegraphed the whole thing was just an act just to look strong before the meeting with kim. now president kim or chairman kim, whatever you want to call him, knows it was a false moment, if indeed it was. i'm shocked we're focused on things like dairy subsidies, that this is a point of contention with one of our closest allies. this g7 meetings is in some ways unprecedented. we've never not signed a communique. i don't think that this is in the best interest of the united states, to take this approach. i think among the president and his team, there's a staggering degree of economic incompetence here, when you're threatening your closest allies with tariffs not only on steel and aluminum, but as john harwood said earlier, on autos, which would be a major blow to north america if something like that took place. larry is an avowed free trade

but there were so much weight put on what larry kudlow said. chief economic advisor at the white house, that seemed like a bit of an overreaction. >> perhaps. i am seeing a different trend. i am seeing markets understanding that it is more than just rhetoric. it is not just confusion and inconsistency. there are real-world implications. companies are pushing back as a result of some of this confusion. theou are thinking about building a factory and you do not know what your tax rate is going to be, what you're -- your tariffs are going to be, you are going to hold off. that is a natural reaction. perspective, we are looking at this and saying the longer the confusion goes on, the more of a real economic impact it is going to have. even if they get settled just fine. cringing far are and going down when there is something negative said, and then when it is taken back, they lift up. the delay and negativity is very real and that is one of the reasons you are seeing bond yields come down across the board. >> is that also the possibility that what

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twier account, possibly the president himself, tweeted that the white house chief economic adviser larry kudlow has suffered a heart attack and is being treated at walter reed. we do not have additional information about mr. kudlow's condition. but as nicholeed a lot of concern among people who know him and work with him. >> and the person that folks feel most concerned about not being in that meeting are obviously the national security adviser and an intelligence official because of how little we know about the program and because it's possible that donald trump -- >> here we go. >> this appears to be live. >> they never stop. >> mr. president, how do you feel about this meeting? >> i feel really great. we're going to have a great discussion and a tremendous success. we'll be tremendously successful. and it's my honor, and we will have a terrific relationship. i have no doubt. >> [ speaking foreign language ]. >> translator: the past -- old prejudices and practices work as obstacles in our way forward, but we overcame all of them and we are here today. >> that's true. thank you very much, ever

larry kudlow was a big advocate and advisor before it was passed.e's bullish on the economy, the stock market and the president's position on tariffs and trade. >> it's come on faster and strong. it's a healthy economy right now. folks said it couldn't be done. gdp may be an abstract number. a lot of our critics say you can never beat 2%. we are beating 3% and we are on an upswing when the comes come out for the second quarter. stock markets may be slightly off the high. but they had a fabulous run. one of the great things about president trump. he stuck to it. you know, steve moore, myself. art laffer. steve mnuchin. we worked together very closely during the campaign. friends of mine, skeptics said no, he won't follow through. he has followed through. he never flinched, not once. we got the legislation through. the economy is responding. this is now the u.s. pavment the hottest economy of in the world. capital investment for new jobs and better careers flowing in from all corners of the world. maria: the left and the detrack towards, the skeptics

. >> we of course are standing by for larry kudlow to speak on the g7 summit. before we get to mr. kudlow let's get to kayla tausche at the white house for more on what we can expect. >> that summit is shaping up to be extremely contention between the u.s. and its six closest allies, including canada and many countries in europe, including the united kingdom, ital germany, france, and others normally, these would be allies that the u.s. would be working behind the scenes to craft a statement for the end of the two-day summit to talk about what the countries all have in common and their shared areas of policy agreement of course, many of these allies have already seen some consternation with the white house because of the president's decision to withdraw draw last month from the iran deal now of the allies finds itselfn the opposite side of the tae from president trump because they have been targeted by steel and aluminum tariffs. each one of the countries has beenking an exemption from those, but last week the president decided to go forth with those now instead of crafting a statem

the problem is they were told by larry kudlow last night, larry kudlow had no why the president abruptly pulled out of that g7 communique. then within hours it was larry kudlow on cnn cutting down justin trudeau in the most ferocious way possible. now, apparently the president was unnerved, fuming when he heard justin trudeau say this. >> i have made it very clear to the president that it is not something we relish doing, but it is something that we absolutely will do. canadians are polite, we're reasonable but we also will not be pushed around. >> will not be pushed around. that apparently is what dit for the president. the prime minister's office came back in a statement saying, look, this isn't something the prime minister hasn't said to donald trump in private and public before. from larry kudlow we know it was timing. timing was the issue here. the president felt he should have had a lot more support from his closest ally going into that key north korean summit. larry kudlow pretty much laid it on the line saying it made the president look weak and he did not appreciate that. fred,

paula, are we hearing reaction following larry kudlow's comments? >> reporter: yeah, just incredible times. i can tell you with trudeau's officials following this minute by minute, they are reeling and quite shocked on so many levels. every hour has seemed to be a new episode, a new page in the saga. i have to tell you, fred, the new influx of people around him is to de-escalate. that's what they tried to do at the g-7 summit, so they thought they had it at hand. then to hear these comments and the reason they're confused, they asked larry kudlow last night, look, what happened on air force i? larry kudlow apparently found out, and how, that the president was absolutely fuming. now, to that end, our foreign minister, patricia freeland, spoke a little while ago about the comments not just from larry kudlow but from peter navarro. take a listen. >> canada does not believe the oral attacks are particularly appropriate or a use way to conduct our relations with other countries. >> trying to stay diplomatic there, i'm not sure it's going to work. some of

but larry kudlow was there doing the financial aspects for the president. and he has said on this morning's networks that he supported this final communique and only agreed with the president when the president got his back up after justin true bow basically just spoke the facts as he saw them. >> let's turn to north korea now, something with which you have a lot of experience. i saw jennifer jacobs of bloomberg news reporting the president intends to meet with kim jong-un one-on-one in a room with just their interpreters. how extraordinary is that? how worried does that make you that they would be meeting without the panoply of policy advisors? >> my guess is that when that interpreter comes out, the president's advisors will want to have all of the notes of the interpreter, know what went on in that meeting. i can understand the president wanting to get a feel for kim jong-un and believing that he can, one-on-one, size him up and see what's going on. the interpretation actually is helpful because it gives each of the leaders a few moments to consider how

just being told that larry kudlow president trump has just tweeted that larry kudlow has had a heart attack. the tweet reads our great larry kudlow has just suffered a heart attack, he's now at walter reed medical center. that tweet just being sent from president trump. larry kudlow just appeared on jake tapper's show describing his feelings about what happened at the g-12 summit. he's recently gone to the white house, we'll continue to try to follow up on any information that we hear. president trump tweeting that larry cuddler i suffering a heart attack, and right now he's in walter reid medical center. i want to put up the tweet actually nown the screen. our great larry kudlow, who's been working so hard in trade and the economy, has suffered a heart attack, he's now in walt irread medical center, our thoughts and prayers are with him and his family. at this time, we'll continue to keep you informed about that. kudlow obviously not part of the team i want to bring back in governor richardson. i was reading an account of a meeting kim jong-il had with madeleine albright. he didn't

congressman, i want you to react to what peter navarro and larry kudlow said. first, navarro, saying justin trudeau has a special place in hell reserved for him for attempting to diplomatically hoodwink this president, donald j. trump. i have rarely heard such harsh back and forth between senior advisers, representatives of administrations, to another country's leader. >> thank you, alex, for that question. it does not help the american worker when the president throws a temper tantrum at one of our closest allies. it's particularly odd to go after canada for three reasons. number one, the u.s. has an $8.4 billion trade surplus with canada. number two, canada hasower average tariffs than the united states. and number three, american steel companies and steelworkers oppose these tariffs on canadian steel. so the very industry that the trump administration is trying to help opposes these tariffs. none of this makes any sense. >> that said, congressman, is there any part of this that is justifiable? the president himself keeps reiterating the farmers, specifically

we last saw larry kudlow back in washington as he was doing interviews following the g7. kudlow, among others was defending the president in this latest feud with america's ally, particularly its neighbor to the north, canada, saying the president had to lash out at justin trudeau because he couldn't appear weak in advance of his meeting here with kim jong-un. he was there by the president's side, now in an iconic photo of this division that exists between the u.s. and its allies. standing alongside angela merkel and others as the pattasat stone-faced a as they pssed him in what was a contentious visit. larry kudlow joined the president's team only a matter of months ago. he was one person, like many of the others the president has invited in who the president liked. he viewed him as someone who spoke his language. he was a contemporary, roughly the same age, a friend dating back to kudlow's days on cnbc. he of course is a friend of this network, having served for cnbc as a commentator and an analyst for many years. again, the president breaking this news that larry kudlow

we'll talk to larry kudlow this hour >>> trade war tensions, u.s.llies, and major trading partners are striking back against a white house move to slap steel and aluminium tariffs on canada, mexico, and the european union >>> fiat chrysler set to add more than 60,000 drives to waymo. >>> not only did the may jobs number beat forecast, april revised higher unemployment rates dipped to 3.8. the lowest since 2000. wages up 2.7 from a year ago the lowest unemployment going back to data collection in '72 very little wrong with this. >> yeah. we have an amazing economy now we have an amazing job-created economy. and, by the way, the growth is happening, if you're a worker, with not that much wage growth but the fact is that jobs are plentiful. we do not have enough people in this country that's what this number is about, to me, david. >> three-month average 172,000 2017 average 182,000 2016 average 195,000. >> where are we going to find the workers? >> i know. by the way, what is weird another record high and a number of those in the labor force. how do y

larry kudlow characterizing this as a family quarrel.ooks as if it could be a rather fractured family affair. >> i think that is absolutely right. that u.s. is negotiating on three fronts, the trade negotiations with china, the issue of what happens with nafta, and the trade negotiations with the eu. beforet is just trade one has conversation over the split on the iranian nuclear deal. in terms of the relationship with the eu, particularly on the news that mr. macron saying s he will not sign a g7 agreemen. -- see anicult to see agreement here. the u.s. has said we will carry over europeany car imports into the united states. and the eu is setting to respond by saying, yes, we will impose tariffs on u.s. exports to europe, whether it is motorcycles or food or other u.s. products sold in the european union. i do think that the analysis of this g7 meeting will be fractious. what does this mean for investors? we continue with investors worried about the day-to-day uncertainty, worried about the asml equityd come markets over the last few we

larry kudlow joins us next. man: i got scar tissue there.ame thing with any dent or dings on this truck. they all got a story about what happened to 'em. man 2: it was raining, there was only one way out. i could feel the barb wire was just digging into the paint. man: two bulls were fighting, (thud) bam hit the truck. try explaining that to your insurance company. woman: another ding, another scratch. it'll just be another chapter in the story. every scar tells a story, and you can tell a lot more stories when your truck is a chevy silverado. the most dependable, longest-lasting, full-size pickups on the road. they have businesses to run they have passions to pursue how do they avoid trips to the post office? stamps.com mail letters ship packages all the amazing services of the post office right on your computer get a 4 week trial plus $100 in extras including postage and a digital scale go to stamps.com/tv and never go to the post office again >> major news today on two fronts for the trump administration. first on trade. commerce secretar

larry kudlow is now at walter reed medical center.ater, the5 minutes president walked into that summit after kim jong-un arrived. then we see the body language, the smiles of these world leaders, now the meeting is underway. we are expected to hear from president trump himself following this expanded delegation. pompeo, and kelly are with president trump. >> we talked about south korea may be getting more. how would we know? >> if there is any sense sanctions are going to be lifted, north korea does not have to give much on its nuclear program. we don't fully know what north korea's nuclear arsenal will look like. realre likely to see maybe even john bolton set off the smoke alarms at the end of the meeting. hearts, he does not really want this to happen. the secretary of state, mike is more ready to throw all of the pieces in the air and see what happens. john bolton is much more traditional, hawkish in the republican party. thesn't that remarkable, seniornt taking two advisers of the ashley different worldviews and bringing them a v

in july as larry kudlow says that president trump is not solely responsible for rising tensions. >> don't blame trump blame the nations that have broken away from those conditions very important point all right? trump's trying to fix this broken system. >>> and the shares fall as the drink maker's flat dividends disappoints investors although cognac sales help. >>> warren buffett and jamie dimon are teaming up in a tv first, our u.s. colleagues will speak to the sage of omaha and jamie at 12:00 p.m >>> good morning, again. welcome to "street signs." we were just talking about the delayed open of the ftse 100 you can see it's just opening up behind me about 40 points higher, about 0.5% roughly we have got a bunch of stocks going -- so that's taking off about ten points from the overall composite. but as you can see, the ftse 100 is starting off on a firmer footing. let's switch and talk about the action in europe this morning. of course we did have a stronger session in asia as well saw a bit of a bounce as far as the asian equities were concerned. this is seeping into europe as well u.s.

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larry kudlow joins us next. ron! something's going on at schwab. oh really? thank you clients?ower did just rank them highest in investor satisfaction with full service brokerage firms...again. and online equity trades are only $4.95... i mean you can't have low cost and be full service. it's impossible. it's like having your cake and eating it too. ask your broker if they offer award-winning full service and low costs. how am i going to explain this? if you don't like their answer, ask again at schwab. schwab, a modern approach to wealth management. >> major news today on two fronts for the trump administration. first on trade. commerce secretary wilbur ross is in beijing for talks aimed at fending off a trade war with china. u.s. allies laughed with no tariffs on steel and aluminum about to retaliate. second, preparations are wrapping up for the trump-kim jong-un summit in singapore. Ãis live at the white house with the latest on both. >>reporter: growing concerns on a trade war before the two largest economies can be inevitable after beijing warned washington no need to deal

to quote larry kudlow from just a couple months ago, a major calamity for our economy and our markets i hope it works out. >> chris: that's pretty cavalier. >> larry: the nafta talks haven't broken down. we're still having those conversations and we are still having the steel talks with canada. as i said, take a look at the communiquÉ the white house put out. good faith negotiations are welcome and we hope to continue there. i don't think things are broken down. i don't want to be cavalier about anything. these are very serious matters, could affect the economy. there's worries about that every place. i don't want to deny that. but i do want to say this. if you cannot abide by the rules -- that's the thing. in the world trade game rule breaking is all over the place. that's why i think that the president is right. we have got to make reforms and we have to stand up for u.s. interests as we go along. don't blame trump. blame china, blame europe, blame nafta. blame those who don't want reciprocal trading, tariff rates and protections. trump is responding to several decades of trade abus

david: one final question for larry kudlow. something even more important than the economy. until... we lost it. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for on your satisfaction. can s it's a new day at wells fargo. but a t like our first day. wells fargo. established 1852. re-established 2018. so, wife's sister's husbandmy us was a lawyer, so i called m. sobut he never called me back!us if your cousin's wife's sister's husband isn't a lawyer, call legalzoom and we'll connect you with an attorney. legalzoom. where life meets legal. david: you were sneered at by media for suggesting that god's will had a roll to play in public policy and economics, what did you make. >> was unfortunate, i don't want to name names. you know me, both of you do. i live a life of faith, i had my ups and downs, last 25 something years, god's will has helped me, faith in god has helped me, faith in my friends like you two have helped, that is the way i am, i do i don't make predicts,i show up

we're going to hear more about it from larry kudlow, the president's economic adviser. >> i would just start by saying if you're going to have a trade war, and they do tend to be losing battling. they're usually zero sum games. i can't think of one example where a trade war has been good for the country that started it. but if you're going to have one, it's good to fight the folks that you have a real legitimate beef with. this is what is so very ironic about the president calling canada a national security issue, fighting with the your pe -- europeans. these are the allies that we might come together with to put pressure on china, which, to be fair, has been a serial infringer in a number of areas, not just around steel, but around tech transfer, around the high growth industries of the future. and that's really where we should be putting our energy. we are in such a losing game here by alienating the very allies that we could be working with. europe in particular is at a point where it could be pushed closer to china. germany is now a larger trading partner with china than it is with

trish: moments ago, top economic advisor larry kudlow briefing the media ahead of g7 summit. w blasting the wto, claiming that the current trade system is broken. allies to level the playing field. zero tariffs for everyone. that's fair. i'm trish regan. welcome, everyone, to "the intelligence report." big rally on our hands up 221. nec d

larry kudlow is right about that. we also know that larry kudlow is actually, in private, much moreau posed to these tariffs. publicly he has to go out and support the boss. the president did sign the big american tax cut. economic growth, you see those jobs numbers? wow. yes, he inherited md -- with these tariffs, people think, wait a minute. just when you have this growth and boom, are you able to separate it? >> the first was full of stuff that business likes. tax evasion and more. it definitely pushes in the wrong direction for two reasons. yes, we'll protect some steel worker jobs, some aluminum jobs, but there are way more jobs at companies that use steel and aluminum. if you were a company thinking of investing in a new factory, even one making steel, how confident could you be that the policy of landscaping will still be the same when you've finished reading it it for now. if you're going to do this, if you think. this is for the way the people who made it america does, when at least you have an economy that s

it reads, quote, earlier today national economic counselor larry kudlow experienced what his doctor says was a very mild heart attack. his doctors expect he'll make a full and speedy recovery. kudlow one of the president's closest advisors. he's been on the job sin march. someone thought to have a great relationship with trump. he was one of the people set out to send the president's message to the public about what took place at summit g7. this is something the president thinking about during this meeting with kim jong-un. we're told tonight, don, larry kudlow expected to make a full recovery. >> ryan. thank you very much. we'll get back to you as soon as we get more on that information. back to singapore where the historic summit between president trump and north korean yan leader kim jong-un is underway as we speak. back with the panel. anderson, we saw president trump and kim jong-un meet face to face. the big we is, when will we find out if they have some sort of deal? >> we expect statements from president trump and some other decorations or communication or some other jointtatemen

start the send to larry kudlow and steve mnuchin. guys who understand if you want to push back on china, which i believe is the right thing to do as well. let's come up with a comprehensive plan to rally our allies around it and stop putting into place these blunt tariffs, which conspire out of control and ultimately hurt amican consumers and american companies. maria: but let's not forget these are important issues. hurting american business has been happening for decades now because china feels the intellectual property, while not even admit that they're doing it. >> why would you want the white house to hurt american companies? for a start you've got the trips agreement and the wto in intellectual property. you can rally allies to run restricting investment in china or selling sensitive technology. >> would have the chinese is safely in the european and japan

larry kudlow said trump was not retreating on trade, a rally ignited. why?ank you for having me. we went into a year saying the fed was going to continue to march on a gradual tightening pace. we were hard-pressed to see 10 year treasuries breaching 3%. we were above that for some time, but it is reminder there is global forces at play. there is considerable risk and high valuation in parts of the market, equities. we will retrace. we still live in a world where between 2.5% and 3% on the 10 year is a fair value. kathleen: let's look at a bloomberg charge. we have the 10 year yield showing the rally. over the last few weeks, another gtv chart now, i will give you from the library. it is the spread between two's and tens. it has gotten so flat. is this something the federal reserve and investors can shrug off, or is it sending some kind of a warning signal about where the world is heading amidst trade wars and the fed that says it will raise hikes again? joe: it is the latter. they will try to minimize it at times area domestic labor market conditions are fai

larry kudlow says, don't blame trump, it is your fault. times"he "financial reports unicredit is developing a merger plan with socgen. analysts are skeptical. and facebook fumble. more questions about how facebook shares data with device makers. the company defends itself, as the stocks hit a record high. >> welcome to "bloomberg daybreak." i'm david westin. the summit going on in singapore next week -- >> what's interesting about this market in general is you have tensions, italy still has issues, spain as well, get the markets are following the jobs data in the u.s. and ignoring everything else. >> either they don't react or the react for a minute. >> i was talking to a ceo over the weekend, how can i make a decision based on threats? i have to operate as i can. in the markets, that is what you are seeing. a a rally underway in the futures market, the dollar index is 93. flat, and crude rolling over off .6%. parently we will see more opec oil come into the market, the question is when. >> time for the morning brief stop apple holds -- mo

the legendary larry kudlow and the legendary john bolton. we had a good meeting, both on defense and the environment, and frankly, on tariffs. which is what we are here for. first, i would like to thank prime minister trudeau for hosting this summit. it has worked out to be so wonderful. the people of canada are wonderful. it is a great country and a very beautiful country, i might add. we tackled a variety of issues facing our nations. at the top of the list was the issue of trade. a very important subject because the united states has been taken advantage of for decades and we cannot do that anymore. we had extremely productive discussions on the need to have fair and reciprocal -- meaning the same -- people cannot charge us 270% and we charge them nothing. that does not work anymore. i made a lot of statements having to do with clarity. we want and expect other nations to provide fair market access to american exports, and we will take whatever steps are necessary to protect american industry and workers from unfair foreign trading practi

larry kudlow later said china's responses to u.s. trade demands have so far not been as factory, and that the administration is not retreating on china. foreign -- a former u.s. court of appeals judge is emerging as a top contender for the u.s. supreme court, according to two sources familiar. justice anthony kennedy announced his retirement yesterday, letting president trump nominate his successor, potentially creating the most conservative court in generations. greek prime minister alexis tsipras has found to speak with the financial commitment he began with european leaders earlier this month. he is determined his country will not go back to the responsible management of public finances seen in the past. translator: what happened in greece in previous years and let us to bankruptcy was a waste of money, corruption, and irresponsibility in the management of public finance. we should not go back to that, and as far as i am concerned, i will do what i can to let greece not go back to that tragic period. juliette: germany has been kno

let larry kudlow. he is trying tn po dowy any sort of tension. the tension is not going to be in any sort of unease walking into this meeting. you know how the treasury secretary was received at the g7 finance ministers meeting of the has already taken place but, kudlow also who describes us as a family quarrel to his plane out. also said h look, when you see the trade situation that's taking place a across the country right now and all across the world point the finger elsewhere. >> i need to find out. whether it is texas or florida or puerto rico. you going to louisiana and alabama. and places that have not been hit like this you can be very proud of yourselves. very proud to be with you and speaking for myself and my wife we think you very much. grt job. thank you. president trump addressing the employees. we were getting conflicting messages and information the president of course having spoken to fema and we have to keep in mind it's hurricane season and they are going to be very important to all of this. the trade issue we are going to be s

larry kudlow cracks me up. trump has consistently touted the economy is doing well admittedly steep aluminum and steel tariffs going into effect on america's allies may undo that. the wall street editorial board called it a needless trade war writing, quote, so much for donald trump as genius deal maker. we're supposed to believe his terror threats are a strategy. on thursday he revealed he's an old-fashioned protectionist. his threats to slap tariffs on steel and aluminum will hurt perhaps republicans in november. joining us from the white house associated press reporter jill colvin. jill, i want to ask you this. to me, having watched donald trump in 2015, 2016 and 2017-2018, one thing he's been consistent about the entire time he's run for president and 20 years before that, he's been a proud protectionist. he's been anxious to do this the entire time. is he happy today in the face of all the criticism and condemnation? he's like, dudes, i'm right about this, i'm doing what i think is best? >> yeah, this is s

stuart: i promised you larry kudlow and i am going to deliver. e monitor, he is being mic'ed up as we speak. remember, larry was sidelined with a minor heart attack a couple of weeks ago i think it was. this will be his first interview on television since his recovery from th minor heart attack. go through the markets for you. the dow is up, left-hand side of the screen, up 1% as we speak. 230-point gain. a complete reversal from where we were earlier this morning. the price of crude oil reaching $72 a barrel. two items of interest there. number one, the president wants no more iranian oil exports. he wants to put sanctions on anybody buying iranian oil. number two, we got nine million barrels of oil taken out of storage. in other words, we're using a lot of oil in this country. demand very strong, therefore, the price going up to 72. >> yeah, this is -- larry kudlow interview is going to be really key because the president and the white house is moving on protecting intellectual property with china. parate from, that the trade tumult still contin

larry kudlow made it clear they will not go soft in negotiations. think trade will continue to be a biz -- big risk going forward. bullish because global growth is good, earnings are good, earnings are lower, the dollar is slightly off the highs and oil is lower. the stress points are removed and the positioning is much cleaner. guy: we rely fun the mliv team to provide us with clarity. why are we not getting clarity from the mliv team? mark: we did fail you this morning. i take the lion's share of responsibility. there were issues freezing us in our tracks, one is the perception that trade has taken a positive term -- turn. the other one was how seriously should we take the singles from the ecb that they will discuss tapering next week? it seems it would be necessary to discuss tapering. this is a bad time. maybe the fact they are making an effort is sending a signal to italy. what message is it sending? are they holding their feet to the fire and saying we will put you under pressure or are they saying, we do not care about italian stress. the mes

that canada wants to see. >> now we also heard from president trump's top economic advisor and larry kudlow kudlow saying trudeau is, quote, overreacting and he downplayed the fall outfrom new tariffs. >> in the announcement from the white house it said very clearly that we still welcome good faith negotiations that's why i regard this as a family quarrel this is a trade dispute, if you will it can be solved if people work together. >> the topic of trade sure to heat up this week. the president headed to canada for the g-7 summit. >>> speaking of trade, the forecast that global gdp growth could take a hit of 1% if tariff threats do escalate into all out trade wars. >>> let's see if jeff kilberg agrees with that joining us is jeff kilberg, founder of kkm and cnbc contributor. i want to get your take on the markets. stock, futures up. the markets don't appear to care how come >> well, i think when you look at the trade talks, talk about $50 billion specifically to china. right now it is interesting. we have trade disputes to use larry kudlow's words we have trade disputes on three continents

the president's top economic advisor, larry kudlow. larry, welcome, i know you got in late last night from canada from the g-7 talks. the president called the canadian prime minister weak and dishonest. what exactly did he say to get this kind of response from the real estate? >> to be honest with you, prime minister trudeau, by the way, i respect, i have worked with him in good faith, getting through a good communique on friday andhos conference, the president is barely out of there on the plane to north korea, and he starts insulting us. you know, he starts talking about u.s. is insulting can -- we are not weak, canada are not going to be pushed around. >> brennan: he was talking about the u.s. tariffs. >> that's true and in general, okay, it was an attack on the president. we are going to have retaliatory tariffs now these are things that prime minister said before basically but he didn't say them before after a successful g-7 communique where president trump and the others all worked in good faith to put a statement together, which

right yeah absolutely and it's very important to look at what larry kudlow said today larry kudlow is of course the head of the economic council for president trump i think actually in this instance trump is right what the. ministration did was abominable but as larry kudlow said he said look these trade agreements they want fat there is no such thing as a trade war when we were being penalized all the way along so now all we want is open markets and fresh trade which hasn't been in existence so i think the discovery of this is yet another indication that actually trump was right well we'll have to keep an eye on it it seems to me hilary that we're going to have to have you back several times on this thing because it continues and continues and we're looking forward to next march when the. show reported to the c.e.o. and founder of straw marc thank you so much for being here thank you appreciate it . the imperial are valid value in the southwestern eastern rather part of california bordering new mexico and arizona is big business for agriculture but there's a problem in the valley sal

look at what larry kudlow said today larry kudlow is of course the head of the americas those of course the head of the economic council for president trump i think economic council for president trump i think actually in this instance trump is right in this instance trump is right and what the about of our administration what the about our administration did was abominable but as larry kudlow said he was abominable but as larry kudlow said he said look said look these trade of these trade agreements the mint's they want fair there is no say one thing as a trade fair there is no such thing as a trade war which was when when we were being we were he not being penalized all the way all the way along along so so now now all we are all we want we want is is open open markets markets and for a fresh fresh trade which which hasn't hasn't been and it being an existing existence i think so i think that the think that the c. of the of this is yet another indication that actually it's another indication that actually trump trump was right right well we'll have to keep an eye on it it seems to me

. >> it is not reassuring coming from larry kudlow at his national economic council.more in the free-trade camp along with steve mnuchin opposing not global, protectionist and there's this tug-of-war in the white house that will have an impact on their economy. in the end, president trump is trying to protect u.s. jobs in the american steelworkers and manufacturers here. trained to hold on. at one end you protect american steelworkers on the other hand you've got a lot of americans in south carolina work in a bowling in bmw factories. it's the exact opposite to their jobs. >> i understand, that there was a good deal with regards to the e.u. tariffs that may be coming to germany was going to build more plants in the u.s. and they haven't done that. mercedes and bmw building more plants in mexico still. there are many i think that her surgical approaches we can take especially towards chinese intellectual property. that is what you're getting at. blanket tariffs on steel and aluminum may not be the best way and that's what larry kudlow is talking about. >> surgical is n

does larry kudlow have a point? >> nothing projects strength like saying i'm not weak.t of a odd bit of theatrics and does speak to the character of the people who surround the president at this point. you don't hear a lot of the president's advisers doing the thing where the president gets over and they try to walk it back or explain what you really meant. when you see amplication and that is what the president wants heading into the summit. >> trump effectively backed out of the deal with allies while traveling to try to reach a deal with a foe. is that really fair analysis? >> it was a whirl wind weekend. the president suggesting that his relationship with allies was not a ten and he got on a plane and a twitter storm blasting canada kind of ripping up all the progress. the whole summit was about trump. he does not see allies and adversaries in the same traditional way. he is willing to take on canada or france and be friendly to north korea in pursuit of the deal. he sees allies as not giving him the deal he wants and possibly getting the deal from north korea. he i

larry kudlow will sort out the trade mess, and we have a market rally. "varney & company" about to begin. ♪ ♪ stuart: we'll start with this, president trump, here's the presidential tweet first thing this morning. why aren't they firing no-talent sam that bee for the horrible language used -- samantha bee for the horrible language used on her show? yes, i promise you, ladies and gentlemen, more on that throughout the next three hours. [laughter] switching gears to that wonderful -- ah, it's not wonderful, it was a solid jobs report. economist john lonski is with us now. okay, i'm calling it a very solid report. how about you? >> i agree with you. the economy's all about growth, and this report indicates the u.s. committee economy will grow rapidly enough to move that unemployment rate lower, increase consumer confidence and provide, you know, a boost to consumer spending. stuart: to move it lower, it's now 3.8%, you want to move it down, you've got to bring a whole lot of people either out of retirement, off the sidelines -- >> you know, we look at the l

this is another example of that. >> yes, larry kudlow has a tough road to hoe. he agrees with you, but of course he's got to speak to the president. moments ago we got the news that david koch, he's retiring from ko industries. what does this mean? is this a surprise to you? >> well,avid the president of americans for pros epnie, know, he's y one, provided inspirational leadership, he's a great man. and we wish david and julia and their beautiful family the very best. for health reasons he's stepping aside i think as the statement says. it's a loss fos fr us because h an inspirational strong leader and has been from the beginning. >> thank you, tim. >>> coming up, forget about the $40,000 sound proof phone booth. we're learning about a new item that's on scott pruitt's wish list. why on earth would he want an old used trump hotel mattress? at least it's not the mattress from a hotel room in russia. >>>. >>> it's time for your business of the week. as founder of the company flichg digital times, she's been that the since before the internet was invent add and she

larry kudlow recovering this morning from a heart attack in singapore.ave the latest outbreak of those condition. his wife said he is doing well. look to you the details. voters head to the poll to the poll of five states this morning for primary day. hitting the campaign trail, kid rock. we have those details on the other side of this break. and don't worry i have everything handled. i already spoke to our allstate agent, and i know that we have accident forgiveness. which is so smart on your guy's part. like fact that they'll just... forgive you... four weeks without the car. okay, yup. good night. with accident forgiveness your rates won't go up just because of an accident. switching to allstate is worth it. cuz, um, i thought that was what i needed to do. we got our orders to go overseas and i went to baghdad, iraq. we were transporting a bomb sniffing dog to the polling stations. we rolled over two anti-tank mines, it blew my humvee up, killed my sergeant. after the explosion, i suffered a closed head injury, um, traumatic brain injury, loss of a li

president trump's chief economic adviser, larry kudlow, is in good condition after suffering a very mildk yesterday evening. kudlow's being treated at walter reed army medical center in maryland. the white house says kudlow is expected to make a full and speedy recovery. >>> now a look inside north korea through the eyes of a defector. grace jo lost most of her family to famine. she says her father was killed by the state. her mother took the rest of her family first to china and then to the united states. she spoke to jeff glor. >> reporter: what are your first memories? >> i was sitting inside -- at the time we didn't have rice to eat. >> reporter: like many north koreans her age, grace jo group hung -- grew up hungry. >> exhausted, hungry. >> reporter: famine ravaged north korea, millions starved to death. grace says she ate on average one meal a week, usually rice. sometimes what they caught on the floor. your grandmother boiled mice, baby mice. >> yes. newborn mice. >> reporter: that's the first time you'd eaten in how long? >> i don't even remember. >> reporter: her father snuck in

>> related to his top economic adviser, lester, larry kudlow. had joined the president at the g7 summit in quebec, but the president tweeted that he has suffered a heart attack, is back in washington at the walter reed medical center, the president tweeting about this as you mentioned, moments away from that handshake with kim jong-un. clearly, this is something that he and his staff are thinking about. kudlow is in his early 70s. we last saw him just 48 hours ago, on the sunday shows talking about the tensions that erupted in canada between president trump and canadian prime minister justin trudeau over the new steel and aluminum tariffs that the u.s. has put on our allies. we don't have any word on kudlow's condition at the moment, but we expect we should find out more. clearly, t foc now of the president's top aides who are joining him, and kudlow not on this trip, of course, perhaps a little split between what's happening at home and what's happening here. >> yeah, we're watching for president trump now to arrive at the capella hotel. andrea

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