larry kudlow was a big advocate and advisor before it was passed.'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 l

larry kudlow talking about the yield curve not being a big deal anything out that there gives you pause? >> well, you know, i'm sort of a natural optimist i like where we are. kudlow said it really brilliantly today with a growth recession. the way i describe it is we have little mini recessions built into the last eight, nine years. so the sort of business people in this country, you get really kind of beaten up after a recessi recession. that '08-'09 thing was vicious it's taken a long time for people to get some elbow room. i think we're there now. i think we're in early to midstage, that's my view. >> what's it like managing a pension fund in illinois and you could ask that in many states where there's all this pressure on you guys to outperform as much as possible because previous politicians made very big promises >> they made promises that could have never been kept. >> right >> so in illinois, we are under 40% funded there is nothing we can do responsibly with a portfolio that's ever going to make that up we just have to do the best job we possibly can, and that's kind of what w

plus larry kudlow and ivanka plus larry kudlow and ivanka trump coming up right -♪ he's got legs of lumbernd 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. maria: welcome back to our special one-hour edition of wall street. now my interview with treasury secretary steven mnuchin. you cut the corporate tax rate to 21% and critics say it's not helping others. why the focus on lowering the corporate rate and what impact has it had? >> i traveled with the president during the campaign. we literally met with tens of thousands of people. we met with small business and big business. we heard two critical things. please cut regulation and allow us to do business and give us a competitive tax code. if we can compete fairly, the united states will win and we'll see products made in the u.s.a. advanced manufacturing

maria: my thanks to larry kudlow. when wall ♪ you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. add-on advantage. and now you know.ed- jardiance is the only type 2 diabetes pill proven to both reduce the risk of cardiovascular death for adults who have type 2 diabetes and heart disease... ...and lower a1c, with diet and exercise. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. do not take jardiance if you are

and i saw a lot of similarities between what steve was saying and larry kudlow today and they have very different ways of saying it and if you take those two remarks and the two speakers from your conference, larry was saying trump needs a win on nafta, possibly eu autos because we're going to focus on china, and what steve bannon just said is put yourself in a seat belt, lock yourself in this is going to be a long process. it's not going to be a short run, and it is akin to the build-up of the soviet union with reagan fighting the cold war. it's just going to be with china on trade policy rather than defense spending and so from an investor takeaway, getting a win on the eu or nafta for trump will be important. investors have given trump a pretty big leash on china because there is no time line or deadline and let the process play out, and sarah, i think what steve is saying is a win is two different parts of this. number one, tariffs in china right now are 9% if you can get them down to the rest of the developed world at 3% there will be better market access and two, to stop stealing

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larry kudlow, thank you so much! [ applause ] it's larry kudlow with jim cramer at delivering alpha this morning. a lot of topics. gdp. in kudlow words maybe for the next quarter or two. >> and no recession in sight. >> right on china a significant trade is in -- being stalled by president xi good morning welcome to "squawk on the street." david faber is delivering alpha and going to be there. this was a heck of a way to dick off, david. >> yeah, it was interesting listening to kudlow. i think listening to our experts chime in, of course, carl, in terms of what they thought was important. from my perspective, it was the language used to describe the trade dispute with china which i think differed in tone with how he was describing relations, at this point, with europe. and certainly with mexico. it is seemingly, at least, the possibility of real progress it didn't sound that way on china, to me i'm not sure what you thought. >> no, he said xi doesn't want to make a deal it's holding the game up he could end the tarif

maria: my thanks to larry kudlow. don't go anywhere.oin us neck in an exclusive interview when "wall street" comes right back ♪ maria: president trump's daughter ivanka is a special advisor to her father. she has been a lightning rod for often harsh, inappropriate criticism directed at her. she is very involved in policies at white house, tax policy, among others. i sat down with ivanka trump at the treasury department. she sun phased by the haters and focused on getting things done for american families. >> it is remarkable. it is the tax plan in conjunction with the economic gypped today of the administration more generally. deregulation and all the other actions taken to really release the animal spirits of the economy and business. we see that in record levels of optimism. but the tax cuts was really the core of that economic agenda. we were, we were incredibly excited to see even in these incredibly early days, we're marking a six-month anniversary, the millions of people that have been directly benefited. that is only going to con

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oh, yeah larry kudlow's a wonderful guy i'm sort of ashamed he made that statement about the deficit being equal >> you heard larry say it's the rate of increase they were hoping to arrest down the road >> it was like the third derivative -- >> oh, you took calculus do you remember anything i remember that weird looking "a" that y "s." but that's about all how would you do it differently? would it be entitlement reform democrats don't like entitlement reform >> i think there's a framework to deal with fiscal problems it's additional revenue -- >> so you want to raise taxes. >> i think that's part of pit. >> who should we raise them on >> high income households. we could take the corporate tax code we have and make it more efficient and raise more money there's still a lot of loopholes on the overseas. there's a lot of loopholes for pass throughs. i think we could give sugar of making expensing permanent. >> you don't want to complain how much things are going right now. it seems like you've got a horse in the race. and you can't ignore that for the most part, we just had lasr on he ha

they will drop it if they don't get approval by the antitrust authorities in china >> i thought larry kudlowery subtly -- there was no subtlety. it was an anvil -- hammer/anvil that president xi doesn't want anything good. it made me think immediately, sell nxp that's where the old kudlow grammar days it was a dramatic statement by larry kudlow that i think the clinz are chinese are reacting to. >> the country not happy with what the country's top economic advisor told cramer. >> i do not think president xi at the moment has any intention of following through on the discussions we made. and i think the president is so dissatisfied with china on these so-called talks that he is keeping the pressure on. and i support that >> in response, a spokesperson for china's foreign ministry says, quote, the relevant united states official unexpectedly distorted the facts and made bogus accusations is shocking and beyond imagination." sort of a direct swipe at what larry said >> my take-away was they watched. frankly, in terms of signaling, i think larry kudlow was always considered to be the guy within

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larry kudlow said china is the worst. well, if you want to go after china, then you want to have your allies on your side. you don't want to have your allies against us. >> tpp. >> exactly. so you should have done tpp, that way you get the asia allies on your side. we don't have that, but we could still dock on it. there are more than 20 parts of the tpp agreement, the japanese and others kept open because they were in our interest. we should negotiate our way back into that. the first step we have to do is we have to get nafta done. to get nafta done, you're going to have to take aluminum and steel tariffs off of mexico and canada, among other things. if you're going to do that, you're going to have to do that for your allies as well in europe. so i'm watching this week as a truly important week. will he start pivoting to the positive this week? or will he double down with auto tariffs? if he's doubling down, we have some ways to go. but i do agree that you could get more. part of the reason that trump is very popular wi

i think the most important thing and larry kudlow just confirmed to me that these numbers are very sustainable. a one-time shot. i happen to think we will do extraordinarily well in our next report next quarter. it is going to be outstanding. i want to strong because benefits not quite as good, you will not let me forget it. but i think the numbers are going to be outstanding. accomplished an economic turnaround of historic proportions. when i came in to office, 1.5 fewer americans were working than eight years before. we had lost almost 200,000 manufacturing jobs under the previous administration, and you all know, they say you have to lose manufacturing jobs. it will get worse and worse. manufacturing jobs are obsolete. no, they're not obsolete. a are the greatest jobs we have. more than $10 million have been added in past years. we have turned it all around. once again, we are the economic envy of the entire world. when i leave the leaders of countries, the first things they say invariably is, mr. president, so nice to meet you. congratulations on your economy. you are leading the entire wo

certainly not the coming down rapidly that larry kudlow claimed. that is going to continue. in february the white house office of management and budget estimated that the deficit will keep rising. it's expected to reach $984 billion in 2019. as for kudlow's caveat that he meant future deafficits. it's expected to rise from colon current level to 9.5%. this is a different way to measure it. my point is that there's no way you can calculate this and get to a different conclusion. even factoring in economic growth, by the way, which is what kudlow likes to do, the con gre -- congressional office says it's $1.27 trillion to the deficit over the next ten years. again, i say there is no coming down rapidly of the deficit. it's not projected to come down either. debra, what am i missing here because i've run the deficit numbers every way one can run them. as a percentage increase, percentage of gdp, as a measure of a month this year versus last year. in no circumstance is it lower. >> no. the deficit is going up. it's going up. it's going to near $1 trillion next year. even if you l

and i think the most important thing, and larry kudlow just confirmed to me along with kevin hassett, that these numbers are very, very sustainable here this isn't a one-time shot. i happen to think we're going to do extraordinarily well in our next report next quarter. i think it's going to be outstanding. i won't go tucson because then if it's not quite as good you will not let me forget it, but i think the numbers are going to be outstanding. we've accomplished an economic turnaround of historic proportions here when i came into office, 1.5 million fewer prime age americans were working than eight years before. we had lost almost 200,000 manufacturing jobs under the previous administration and you all know they say, well, you have to lose manufacturing jobs. it will get worse and worse. and you faction jobs are obsolete. no, they are not obsolete. the greatest jobs we have. more than 10 million additional americans have been added to food stamps in past years, but returned it all around. once again we are the economic in the of the entire world. when i meet the leaders of countries

when was the last time you had larry kudlow on talking about 4.5% growth rates. >> larry kudlow shouldmore interviews, i agree with you. >> i'll call him. >> can i ask you about sin clare briefly, there was evidence about the sinclaire deal. i know you spoke with the president about it. is he the invisible hand overseeing media regulation right now? >> i think he's quite the opposite. i don't think there's any evidence he got any medals in the fcc. you know that's an independent agency. and his appointment showed a lot of integrity. he rejected the deal not because he dislikes sin claire, they're eight months delayed in the process, refuse to comply to the most >> they were doing some shady stuff. just to explain to our viewers, they were doing something to secretly own the stations. >> i told the president about my opposition, because sin claire would have reached 77% of u.s. homes. i did not necessarily agree with that point of view, i did not want to see nbc and the rest of the liberal networks owns 70%. i think it would have been very dangerous if nbc was the local news coverage in

talking] vonnie: president trump, along with kevin hassett and larry kudlow, not taking questions. i should reiterate the headlines. he talked about the trade broughtand how he has that down. he says the numbers are sustainable and we should see someone numbers in coming quarters. -- similar numbers in coming quarters. hetalked about the economy, talked about women and minorities, talked about manufacturing wages and the still industry. -- steel industry. demographic exchanges with his base. and he talked about health care and tax cuts, as well. in talking about how the drilling and mining activity has skyrocketed and how the president has done what he was not sure he would do, that he has brought on the trade deficit. did 1% ofaying trade growth, but a lot of it was driven by imports of soybeans from china, and that could have been in anticipation of tariffs. no guarantee that will be sustained. so a lot to digest. caroline: i think it is interesting the parting remark from larry kudlow, saying this is sustainable as far as the eye can see. i am looking at reporting today, bloombe

friend of yours, larry kudlow. the director of the president's national economic council. larry, welcome back, so good to see you. thank you. >> brennan: we did have a good economic growth number that q2 number 4.1%, hard to argue it was anything but goodwin for the president. but when you take it apart was this sort of just a temporary burst of buying ahead of the implementation of the president's tariffs? >> no. i don't think so at all. the basics of this number were consumer spending and business investment. those are the basics of any number. c plus i to put it in economic terms. it's doing terrific, rising better than 4% as was the overall. and i know some people have tried to downgrade this by ahead tariffs.s, buy heay, we don't know that, lot of heroes about that. i'm glad to see exports rising whatever the reason. the biggest thing that nobody has talked about in terms of these smaller issues is, inventories. inventories fell by i think $5 billion. that is very unusual. it took at least a percentage point off of gdp. but these things jump around a lot. the heart of

, you're not hearing -- my colleague spoke to larry kudlow last night.kudlow. don't worry, everything will be fine. we'll find a solution. this is a larry kudlow saying, no, we really need to take on the chinese and this is, the ball's in their court, she is really messing with us and messing with the wrong guy if messing with donald trump. hearing bellicose from senior trump officials, when we talk to them privately there really isn't any obvious exit ramp from this cycle of escalating tit for tat tariffs. as for consumers, farmers, the people this has effects on living around america, this is a concerning situation. >> then let's hone in on those potential voters and consumers. it seems that this trade war with china will be changing up at least some of the senate races in trump states. tell us a little bit more about how that is playing out. >> it's not just senate races. it's also house races across the midwest. we are already seeing the effects of tariffs on soybeans, dairy. so you're getting, you know, take north dakota. heidi heitkamp is vulnerabl

larry kudlow could not tell me what he thinks these going to be the growth rate. >> wires picked up yourmorrow. he has no knowledge of them but he thinks they'll be big. stuart: i don't know if anybody who is not forecasting 4% growth or thereabouts. >> the president broke vertical about the jobs number. >> tradition. i do want to get this in. cnn reporter katelyn colin told she could not attend the rose garden event at the white house yesterday by white house communications deputy in warmer executive bill shine. this after she has president trump about putin's proposed visit to washington. fox news has come out in support of the cnn reporter. i support her as well. i support cnn. i think you have the right to ask questions if you want to ask. i don't know what tone or specific questions were asked, but you've got a right to ask them and it's wrong to exclude her. joining me in this? liz: yes, this is our first amendment. stuart: brent bozell, and argue with us on this? supporting cnn, the right to ask the question. >> stop the presses, i am not. the first time ever that i've disagreed w

stuart: that was president trump, white house economist larry kudlow.hey were speaking before the numbers. now we got them. 4% annualized with the economy. he works with art laffer. do you think the economy can keep up this pace? >> no question about it. with the huge tax cut in december, no reason for the economy not to grow at 4, 5%, as it did in every great boom in the 20th century. i think we can do that again. stuart: wait a second, brian, democrats, a lot of republicans, some republicans are saying you can't keep up a pace like this. some of the reason why we got the 4% spurt, one-off reasons, big sale of soybeans in may or early effects of the tax cut. you say not true, we'll see four or 5% growth as far as the eye can see? is that your forecast. >> the new normal was that we grow 2%. we always grew at 4% in the great booms of the 20th century. that is the great american experience. if we clear government regulations and taxes out of the way we can see the historical match again. stuart: inflation tends to tick up with a strong economy, what abou

conference and it began with the president's chief economic adviser and unapologetic free trader larry kudlow has no quarrel with the president's approach to china. >> i have been a long time critic of china and it's all a matter of pelic record on tape and i think the president is doing exactly t the rightng here. this should have been doneears ago. a, the world trading system is broken. the world trade organization is broken and we just had this discussion at the g-7 and the biggest culprit is china. >> a for any hope that there might be a breakthrough on china, kudlow said that while he believes the chinese do want a deal on trade that the president of china, xi doesn't and that they are waiimng for to move. kudlow struck a much more hopeful w toneh respected negotiations with mexico over trade and nafta and with respect to possible trade breakthroughs with europe. he said he expects that an emissary of the european union may come to washington with a gnificant proposal on trade. sen griffin had a similar view on tra far as the president's mission was concerned and a more nuanced view of s

trump: why isn't listening to his adviser, larry kudlow. larry kudlow is a big free-trade guy. i voted for trump because of some of his economic policies but i wanted to secure the supreme court. these tariffs are going to hurt people. when you go to walmart, everything is going to be doubled. your pickup truck is going to be 25% more. that is the problem. it is going to hurt us, so i disagree with these tariffs. thanks for your show. daniel: i couldn't agree with the caller more. i think you have successfully put it well. the president really believes this. he has been, complaining about trade. 30 years ago, it was japan. now it is china and other trading partners. he's getting free-trade advice from certain advisors, steve mnuchin at treasury, larry kudlow, but he is getting protectionist advice from peter navarro and wilbur ross and robert lighthizer, and they are ascending in this administration so the president impulses and tendencies on trade are being reinforced. we are going to pay the price for having a real-life experiment here. economists of and saying free-trade is

to be back with you it's a big day on cnbc it's the delivering alpha conference big names like larry kudlowmark lasry, we'll have much more on the delivering annual conference in a few moments. and it may be a good day for you and your money stock futures are slightly in the green. all eyes are on the nasdaq, not the dow. it's all about the base, ns, noe treble tech stocks keep pushing higher. yesterday a number of big-time stocks made for highs. amazon, facebook, google, microsoft hitting new records. amazon shrugging off prime datek woes we'll get more on that in a bit. buyers are still coming into bonds. the ten-year ticking a bit lower to 2.86% >>> we'll have more on the broader markets and your money in a second. first we have some big breaking news on big tech, specifically google european union regulators set to fine the company a record $5 billion. let's get to willem marx with the breaking details on alphabet >> thank you very much the last few moments we've been hearing from sources at both major news agencies that we are going to expect 4.34 billion euros worth of fins leveles le

and i think the most important thing, and larry kudlow just confirmed to me along with kevin hassertese numbers are sustainable. it isn't a one-time shot i happen to think we're going to do extraordinarily well in our next report next quarter i think it's going to be outstanding. i won't go too strong, because if it's not quite as good, you won't let me forget it i think the numbers will be outstanding. we've accomplished an economic turn around of historic proportions. when i came into office, 1.5 million fewer prime age americans were working than eight years before we had lost almost 200,000 manufacturing jobs under the previous administration, and you all know they say well, you have to lose manufacturing jobs it'll get worse and worse. manufacturing jobs are obsolete. no more than 10 million additional americans had been added to food stamps in the past years but we've turned it all around once again, we are the economic envy of the entire world when i meet the leaders of countries, the first thing they say congratulations on the economy. you're leading the entire world. they sa

larry kudlow and i might take one side of an argument. mnuchin might be on that side with us wilbur ross and peter nofr o on the other side but the president makes the decision based upon what i believe to be good evidence from all sides of the equation when do you that and feel like you're part of the process, you know that -- in my particular circumstance, the fiskically conservative argument is being made and being considered and given fair weight. if the president decides to go another way number one that's his prerogative because he is the president. not me and then number two, i know for a fact that i've been heard. so often republicans on the hill used to complaint -- the bigds complaint complaint was we never had a chance to participate in the conversation that's happening i think the president is making better decisions because of it it's the management style he wanted when he put together a team of me and peter nofr o and wilbur ross and bob lighthizer and steve mnuchin. we are getting good results and decisions. most importantl

. >> top kmous economic adviser larry kudlow joins me. after you were last here, you had health problems. you're out of the woods, good to see you. >> never better. to quote my favorite author, reports of my demise were greatly exaggerated. >> we're happy to hear that. 4.1% growth rate is a positive for the country. you said you agreed with the president this is sustainable. there are economists are skeptical. moodies says the growth is not sustainable and will come close to stalling out in 2020. another said it's a result of doomsday prepping. in "the new york times" she said, quote, global economies are stockpiling raw materials, intermediate and finished goods before tariffs take effect. once they hit demand, they will no longer need to build inventories and this boost to economic growth will end. why are you so confident it's sustainable? >> i appreciate that they disagree, they often do. policies matter a lot, jake. i think the president deserves a victory lap. low tax rates, rolling back regulations, opening up energy, for example.

with veterans of foreign wars and speech and talked about the economy and great time to talk to larry kudlowes to trade, larry, great to see you, when it comes to tariff and trade, do you think this is day one of a deal or the day one of a continued fracture between the eu and the usa? >> well, i don't want to get ahead of the story and really is story is going to be when president trump and president sit down one-on-one, nobody else, that's going to lead off the bilateral and that's going to be absolutely crucial, brian, but let me say this, i met with senior staff in the eu, i met with yunkre's right-hand man for some time, they have a positive attitude going into this, we, our team has a positive attitude, expectations are so low that i believe it is possible, i don't want to predict, it is quite possible that people may be very surprised on the upside, you know, where there's a political willingness there's a political way and i just say, you know, keep an open mind, you may surprised in meeting. ainsley: we are talking about tax cuts 2.0, stuart varney thinking that it wasn't going to p

and -- larry kudlow. and we have dave on the republican line. good morning. caller: first, a quick,. comment. it would bother to work if the government to 90% of what they earn? a question about medicare. once therstand it, biggest contributor to the growth in our national debt, tens of trillions of dollars in future liabilities for a program that people pay into for about 50 years and take out of for about 15 years, yet i hear more and more democratic politicians composing -- proposing medicare for all. what do you think that we do to our national debt? guest: there are a couple things on medicare. i made a reference about being a member of the baby-boom generation. i am on the backend of that as it were, but beginning in 2010 is when the first of the baby-boom generation became eligible for medicare. 65 years old. we now have for the next 15-20 years, between 10,000-11,000 per day that turn 65 and become medicare eligible on that. that is putting enormous pressure on obviously federal spending. and i do not say that as being a bad thing, this caller and a n

we also hear from economic council her larry kudlow, who said president trump should not be blamed for damage from tariffs. trump'se say, president tariffs are damaging this, that and the other. i say, do not blame president trump, he inherited a completely broken world trading sentiment -- world trading. yvonne: many people are siding with kudlow. ros: one person that would not be siding with kudlow would beat kudlow before he joined the trump administration. yvonne: [applause] -- [laughter] trader.s to be a free there is an understanding that there are issues with the world trade organization. there are measures around the world that may have disadvantaged the u.s. on trade. going full-blown with trade war might not be the right thing to do. even since we talked last we had news on our bloomberg terminal, bmw is raising its price to suvs in china by 7%. those are because of the trade war's and those suvs are made in south carolina. is and a lot of republican lawmakers are concerned about the unintended consequences of this tariff here, or that tariff they are and what happens on the

larry kudlow heads the white house economic counsel, he said he believes world trade is broken kudlow does not believe the chinese president, xi jinping, has any intention of following through on their previous discussions >> insofar as we know, president xi at the moment does not wish to make a deal now, i'd love to be wrong on that we are waiting for him the ball is in his court and the tit-for-tat business which is nobody's favorite path, but nonetheless, they can end that this afternoon. this afternoon by providing a more satisfactory approach and essentially, jimmy, doing what the rest of the world knows needs to be done >> kudlow added they're looking for china to bring tariffs and other trade barriers down, get rid of ip theft. overnight china's foreign ministry spokesperson said that kudlow had unexpectedly distorted the facts and made bogus accusations that were shocking and beyond imagination. for what it's worth, the hedge fund managers and private equity managers who spoke yesterday seemed optimistic that a trade deal would be reached and they were urging investors in the

. >> even earlier larry kudlow said he believes gdp could be four percent for a few quarters despiterade tensions we are seeing. he believes dealing with trade now will be better for the long run. >> i have been a long time critic of china. it is all a matter of public record on the tape. i think the president is doing exactly the right thing here. the world trade organization is broken. we just had this discussion at the g-7. the biggest culprit is china. >> kudlow added he doesn't believe president xi has any intention on following through on their discussions and until they do president trump will keep the pressure on. >> fascinating stuff. what did ken griffin have to say about the banks because he is often fairly outspoken about that. >> he has spoken about how he would like to see the banks break up, become smaller. he reiterated that point today talking about how a greater number of banks is better for competition which would provide better value for the consumer. when he was pressed on citadel he said there was plenty of competition in that business. i think he was speaking s

manyi don't think too agree with everything larry kudlow said. there are many people who there is resignation -- there is recognition with the world trading system and things could even manyut businesses in the u.s. and republican lawmakers, you know, don't is a surly buy into the idea the administration is on the right path. they think there may be ways to address problems without going full on trade war. in the past week, as you know, we had profit warnings from general motors, westinghouse appliance maker talking about unintended consequences of steel and aluminum tariffs. they were happy when the administration put -- not happy on the tariffs on washing machines. they did not expect to get hit by the knock on steel tariffs. i think people want a different solution, and they are concerned. ramy: bloomberg editor ros krasny from washington, dc with the latest out of the white house. central banks set the agenda with bank of japan and fed wednesday.uesday and that is followed by the reserve bank of india and bank of england. kathleen hays is in

dow opening up about 42 points higher nasdaq about 30 points higher. >>> larry kudlow says today's u.s. gdp number will be big. speaking to fox business, kudlow did not speculate what that number would be, but he said he had no reason to disagree with the prediction that it would be in the range of 4%to 4.5%. speaking in illinois, president trump gave a sense of his personal hopes for the second quarter anybody. >> somebody actually predicted today 5.3. i don't think that's going to happen, 5.3% if it has a 4 in front of it, we're happy. if it has like a 3 but it's a 3.8, 3.9, 3.7, we're okay. >> steve liesman has more on what to expect >>> it's the one economic number everyone is talking about, second quarter growth which could be as strong as 4%, 5% >> most people understand what president trump is doing, what we're doing is good for the economy. i think as you know, we're looking forward to a very strong gdp number we have real economic growth. >> reporter: earlier this week the president tweeted out we have the best financial numbers on the planet. the median of 12 economists surve

larry kudlow knows this very, very well. he's one of my best friends.e when i tell you, he's arguing the good cause internally. he's just phenomenal. >> ben? >> tariffs are such a complicated issue. it's almost unbelievable. ben smith, the father of economics, said tariffs are a bad thing. but just in recent years, a great, great genius before his death, paul samuelson, said sometimes we do need tariffs. there are countries like china that do require tariffs. if targeted properly against countries like china, i think they can work well. targeting them against countries like canada and mexico, very, very grave doubts about that. china is very much an outlier in terms of trade and does need some work. >> and so art, do you see that targeting, you know, china could ultimately bring the best benefits for the u.s.? >> i do. i think it's sort of humorous today. i think it can work with china. i think it can work with the eu. as long as it's done correctly. trump has told me personally several occasions that he's a free trader. and this is a tactic for him to

you have larry kudlow on the other side along with steven enou mnuchin.n hassett, and ivanka trump and many others who will be joining joe. that's not all we have today we have big things happening here in times square we'll be joined by joe moglia, chairman of td ameritrade. when he was ceo of td ameritrade, he took client assets from $24 billion to 28$20 billion, increasing it by more than ten fold. td ameritrade today client assets top 1.2 trillion. we'll get a good view of what investors are thinking, where they're putting their money to work and what's happening. we'll dig through that with joe who also happens tobe the coac of coastal carolina's football program, making sure he's training this team to be leaders. happy birthday, brian. >> you share a birthday with nelson mandela and richard branson. >> you know who was the 17th >> who >> kelly evans nice run here. >> is that the water sign? >> must be >>> on deck, break out the bacon. d.c. is serving up a heaping pile of pork erti your random but intesng stat of the day. if you think the swamp has b

why isn't he listening to his economic advisor, larry kudlow? i voted for trump not because of his economics, well some of his economics, but i wanted the chair for the supreme court. the thing about these terraces that they will not work -- these tariffs, is that they will not work. when you go to walmart everything will go double. when you buy your pickup truck it will be 25% more. that's the problem. it will hurt us. i disagree with these tariffs. guest: i couldn't agree with the caller more. he put it well. the president really believes this, for 30 years he has been complaining about trade. 30 years ago was japan, now it's china and other trading partners. i think you getting free-trade advice from certain advisors, i think steve mnuchin at treasury, larry kudlow, but he's also getting protectionist advice. prejudices and impulses on trade are being reinforced, and i think we are going to pay the price. we are having a real-life experiment, economists and other people have been saying free trade is good for the united states. shows in our e

>> larry kudlow is known for it being positive.e expectations are so low going into this, the president possible talking about increasing auto tariffs, there is still an ongoing investigation as to whether the administration will move in that direction. he also floated 0%. two extremes there. this is the first business meeting. >> harris: thank you very much, good to see you today. the house financial services committee, you know they're talking about this. congressman, great to see you. from the great state of wisconsin, always. i want to talk about the concept, you just heard our reporter refer to a trade war being discussed on your committee, is it real or not? >> i think we were in a trade war before donald trump even took office. other economies around the world have barriers and tariffs on american produced goods. donald trump for the first times that i am going to push back and make it fair for the american worker. there is some pain in the process, those countries around the world that go after what they perceive as a weak

. >>> white house economic adviser larry kudlow blamed chinese president xi jinping for holding up al between china and the u.s. >> so far as we know, president xi at the moment does not wish to make a deal now, i'd love to be wrong on that we are waiting for him the ball is in his court and the tit for tat business, which is nobody's favorite path, but nonetheless, they can end that this afternoon. this afternoon by providing a more satisfactory approach and essentially, jimmy, doing what the rest of the world knows needs to be done tariffs down, non-tariff barriers down. ip theft, no allow the american, or british or whomever, german, full ownership of the companies operating in china >> larry kudlow talking to jim or jimmy cramer. chinese officials hit back at those comments describing them as shocking and calling the accusations bogus. a spokesperson from china's foreign ministry said the american flip-flopping on trade is now well recognized and it's clear who is right and wrong on the issue turning to europe, kudlow said the administration expected eu president jean-claude junc

you hear larry kudlow saying we just have to wait to see what works.resident is right, this could turn out great. if he's wrong, who knows what's going to happen? i think his aides have resigned to where we are. >> this is any president's dream. there are a lot of people watching who didn't vote for the president. you can say this started under obama. that's fine. look at the headlines around the country. the president could just breed that in and he did take credit this week. you could take the victory lap and not do anything to mess with that, or you can try to do what -- this is the issue on which he's been most consistent. >> look, there is a playbook for taking an amazingly good economy and turning that into an electoral success with an election in a few months. the question is will he follow it? the message discipline that he and the republican party have to have to counter and blunt the democratic wave that could be coming, you need to stay focused on that topic. and the trade war is one of those things that could challenge that discipline, but