as larry kudlow was forced to admit when he was questioned by chris wallace on fox news.gh. in fact both sides will pay. both sides will pay for these things and of course it depends... if it's and of course it depends... if it's a tariffs on goods coming onto the country, the chinese aren't paying stop know, but they will suffer gdp losses and so forth with respect to a diminishing export market and goods that they may need for their owi'i... goods that they may need for their own... but the president says china pays for the tariffs and that they may suffer consequences but its us businesses and us consumers who pay? correct. to some extent. i don't disagree, both sides will suffer on this. there is acceptance that both sides will suffer, there are advantages to both countries' economies as a result of all of this. and there is a danger that all of this could still escalate because here in washington, officials are admitting that they are expecting beijing to retaliate, and as i mentioned president trump has already asked for the paperwork to begin on perhaps yet more ta

but his economic adviser larry kudlow has been forced to contradict the president, admitting that itill be american businesses and people that will pay. chris buckler has the latest from washington. the white house, of course, is trying to focus on the message that trade talks are continuing. if you listen to larry kudlow today, the white house economic adviser, he was pointing out and playing up the potential of presidents xi and trump meeting next month injapan for a 620 summit where they could discuss some of these issues. but actually, larry kudlow was also forced to admit that some of the conversations that have taken place during negotiations at the end of last week in washington actually just covered the same old ground. there was no breakthrough. and at the heart of this disagreement are issues about how china forces foreign companies to operate in the country, rules and restrictions about intellectual property, forcing the sharing of information and technology, for example. those are all things america wants to try to change, and it also wants to be in a position to ensure t

but his economic adviser larry kudlow has been forced to contradict the president, admitting that itmerican businesses and people that will pay. chris buckler has the latest from washington. president trump did double tariffs, in fact, more than double tariffs, on some $200 billion of goods imported from china into the us but he was also forced to admit that some of the conversation is actually just covered the same old ground. there was no breakthrough and at the heart of this disagreement are issues about how china forces foreign companies to operate in the country, rules and restrictions about intellectual property, forcing the sharing of information on technology, for example. those are all things american wants to try to change it also wants to be in a position to ensure that all of that agreement is enforced but there is no meeting of minds and meanwhile, the headlines and concerns of both country's economies are about the dangers of tariffs being put in place and as you mentioned, president prompted double tariffs, more than double tariffs and some $200 billion of goods import

chinese state media is picking up on larry kudlow's comments in the u.s.ally, look, this is going to hurt the u.s. economy. it is chinese, u.s. consumers. they don't talk about the fact that chinese consumers will be hurt, and that is certainly the case. china is using the white house aides words against them saying, look, u.s. consumer, you don'tment don't want to feel the pain, maybe you should pressure your government to stop going forward with the trade war. whether that's fair or not, i won't offer an opinion on that. that's certainly the argument they're making. >> we're hearing about people moving from china to even japan. >> just hard to believe that stating the obvious about tariffs is international breaking news. we'll check back with you next half hour. thank you, matt. >>> the white house taking a new tact as it pushes back against congressional investigations, accusing house democrats of violating rules and enormous of congressional oversight. democrats are demanding documents they know they have no legal right to see including confidential co

>> well, clearly the president was watching larry kudlow on the sunday shows yesterday, and is tweetingsponse to that this morning saying in sort of acknowledging what kudlow was saying, and saying that u.s. companies won't have to pay these tariffs if they're willing to make their products here in the united states. >> but hold on. please. >> a country that does not have tariffs. he's trying to beat around the bush by saying that u.s. companies can avoid them without having to say yes, u.s. companies are paying them. larry kudlow tried to thread a delicate needle by saying that both sides will pay this and that china will pay indirectly in a hit to gdp and hit to other economic indicators there without saying yes, china is actually writing a check for those things as the president has said in the past. >> except he didn't thread a needle. the needle tricked the president's argument. bill cohen, there are not empty t shirt factories sitting in the rust belt of the united states with factory workers just waiting to turn the lights own and fire the machines back up. how can the president

leland: economic adviser larry kudlow telling fox news this morning that the chinese haven't come fars this as business as cross america plan to charge each and every one of us more because of the cost of tariffs on chinese goods. rich edison joins us now. do we have an idea or are negotiations continuing this weekend or on pause? >> there's a bit of a pause, leland, unclear when the next round will happen. this is a massive escalation of the trade fight with china and, appears the trump administration is preparing to take it further. the united states raised tariffs friday on $200 billion of chinese import. the administration says it's beginning the process of even more tariff increases, targeted at $300 billion in additional chinese import covering about every remaining product china sends to the united states. the white house says the two sides were approaching an agreement when china back-tracked on significant commitments, the trade fight, tariffs and retaliation from china means higher prices for consumers, lost business for american farmers and global drop in stock prices, top

his name is larry kudlow. ector and i was hoping to see a huge grin on the man's face but there you go - look, larry, i have said this is spectacular and it will not support do you want to add to that? >> is another blowout number. solid 3.2% gdp which is a blowout number last week. very strong economy and again i will say we talked about president trump's policies tax cuts the regulation opening energy, trade reform, stable dollars and so forth he is rebuilding this economy and i heard your guest talking about productivity surging and that is hugely important and maybe we'll get it up today's job number but that and here's a very key point and 3.2% growth 263,000 jobs which continues the strong trend we have no inflation. virtually no inflation. strong growth, with virtually no inflation. i think the inflation measure for the first quarter is 0.9% in year-to-year is about 1.4 so that is an important point. very strong growth, very low inflation and policies are working. stuart: can bring out one big negative.

consumer that will be hardest hit by this increase in tariffs larry kudlow also indicating it'll be at least another 3 months before all these tariffs actually start to take effect because there has to be a 60 day consultation period for the levies that president trump says he now wants to put on some $300000000000.00 worth of chinese goods that's the balance of the goods that china of course exports to the united states the language we're getting from chinese leaders continues to be fairy restrained very moderate i think that's because they want to be seen to be very much the adults in the room right now but state controlled media is not holding back in particular the global times newspaper which has a very sort of nationalistic leaning it has a very belligerent editorial on monday warning that the u.s. strategy right now was useless and also saying that china is prepared for a worst case scenario but the central thrust of the editorial was essentially this the chinese people have a far higher pain threshold than people in the united states the u.s. secretary of state might pompei o i

the chief economist larry kudlow will hit back at the naysayers in moments.hat is the reason behind the left's effort to take down bill barr? why so intent on downplaying the word spying. this is still going on tonight. plus, two end of the week favorites. we have unearthed footage of bernie sanders and joe biden. it's hysterical. and a principal who has had enough. and some journalists desire to jail bill bar. i kid you not. the news that should matter most to americans is today's jobs report. it's another record breaker and another sign that trump economics is work. in april 263,000 jobs were adding to the economy surpassing wall street and economists expectations. the experts were wrong by 70,000 jobs. the unemployment is 3.6%, the lowest in nearly 50 years. the last time the unemployment rate was this low, the following things were not even-month-old. -- even imagined. mobile phones. video games. the mri machine. and disposable lighters. it's been a long time. in the 28 month since trump has been in office the economy added 5.4 million jobs. these are spe

top white house economic advisor, larry kudlow, says the u.s. is trying to correct a generation of unfair policies. >> i think this is a risk we should and can take without damaging our economy in any appreciable way. maybe the toughest burden is on the agriculture sector. we get that. we helped them before on lost exports. we'll do it again, if we have to and if the numbers show that out china has yet to announce if or how it would retaliate. administration officials say they're expecting a chinese government response. china's options against u.s. imports are more limited since china imports much less than the u.s. imports in chinese goods. china has yet to announce if or how it will retaliate. the administration officials say they're expecting a chinese government response. china's options against u.s. imports are more limited since china imports much less than the u.s. imports in chinese goods. there are no negotiations scheduled between the two countries so the white house says there's ad good chance president trump and chinese president xi-

larry kudlow is exactly right.er from the short term damage done by the trade barriers but they will, too. will that bring them to the table? goodness gracious i hope it does and i hope they agree to negotiate what should be free trade. they know what's free trade. >> sandra: i hear a lot of optimism and you've been cheering on the president to fight this fight and making the case like larry kudlow that it's worthwhile for the united states. >> it's enormously worthwhile. a free trade agreement with china, japan, europe. when the president left the g-7 in ottawa and he said you know, we're willing to get rid of all trade barriers, tariffs and non-tariff barriers if you guys will. they looked and whistled in the air and said the words to the doris day song. >> sandra: oats amazing to see the president in his words this morning. tweeting a lot this morning. he said the unexectedly good first quarter gdp was greatly helped from tariffs by china. some people just don't get it. in the wake of the big gdp number and drop

larry kudlow addressing a false claim by the president related to tariffs.porter: that's essentially what we already heard from larry kudlow and to a certain extent senator rand paul is the administration's argument in a nutshell and that is, yes, there could be some short-term economic pain as we sit down at the table with china and try to open up those trade barriers that we have with china that leads to this massive trade deficit, and yes, there will be some pain, especially among farmers and the agricultural sector. they will be given some $12 billion in subsidies to help the medicine go down, but the long-term pain is worth it. we need to open up those borders, those trade barriers with china. they're not playing fair in accordance with world trade organization rules. they're taking technology, insisting that american companies that want to do business there transfer their know-how, their technological know-how to chinese companies and the chinese government before they're allowed access. here's a little more of what larry kudlow had to say by way of ex

there's a story, it's been reported, that larry kudlow took that op-ed right into the president'desk, and it inspired him to give you the call to ask you to be one of the federal reserve governors. that what happened? >> i wasn't there in the room, so i can neither confirm nor deny that. >> that's what you've been told? >> you know, i do knowed donald trump lhat piece and he liked my point, which is -- this is the re of supply-side economics, so i'm so glad you're asking me aboutth . what we believe as supply-siders, if you cut taxes, if you reduce regulati, if you make american companies great again, they will produce more. and if you produce more, you shift, outward, the supply of goods and services. and a lot of liberals believe, when you have that kind of increase in growth, that thatca es inflation. and we've always believed that's completely backwards. and so we've completely rejectee thisthat, somehow, every time we get wage growth or every time we get morerowth in the economy, "oh, my gosh. the fed has to pull it back." why? we want workers to be better off. i mean, think abou

larry kudlow says this is a negotiation, not a war.does it look like to you and how long will it be before we get a truce? >> we are in a negotiation and the consensus in the markets is we eventually reach a trade deal here that would be our base case. the underlying issues go to more than just trade. it is really that broader relationship. that is where we see the possibilities for tensions continuing in the future. there is this -- the last week is spoke to the fact the underlying relationship will be with deep intentions and it will be difficult for people in china to reach a consensus with the u.s. on issues like intellectual property reform, technology transfer and such. the events of the last week whereby the fact we are five months into a negotiation and china wants to walk back on the wording of the deal when we are in the final stages really speaks to the fact this underlying relationship will be difficult to maneuver in the future. where we are at the moment, these diplomatic negotiating stance, this impasse which is a non-de

we will discuss how the moves will affect much of what we buy with larry kudlow, the chief white house economic advisor. then, the showdown between the president and congress escalates. house democrats demand to see the full mueller report and the president's taxes and talk to some key trump advisors. >> there may be some other contempt of congress that we might want to deal with at the same time. >> chris: we will sit on the congressman in 2020 presidential candidate seth moulton. plus, joe biden widens his lead over the democratic field. we will ask our sunday panel if he has the staying power to win the nomination. and our "power player of the week," the son of a famed investor on being a farmer, a sheriff and crusader at the border. >> i just like doing things that are different. >> chris: all right now now on "fox news sunday" ." >> hello again and happy mother's day from fox news in washington. president trump shows no signs of backing off his trade war with china after negotiators failed to strike a deal. on friday he more than doubled tariffs on some 5,000 categories of chinese

larry kudlow says he expects retaliation. >> it is interesting.xpected countermeasures have not materialized. we may know more this evening or tomorrow. i reckon we will see what they come up with. so far we have not heard on that basis. >> theresa may is trying to win support of the labour party by reopening brexit talks with brussels. number 10 is trying to rewrite the outline agreement on -- senior labor officials have warned their party want to a deal without a second referendum. the government is still hoping to take the u.k. out of the block by the summer. manchester city has won the english premier league after a 4-1 win against brighton. they clinched the title after a closely fought race with liverpool. that team won the highest point tally for any team that finished second in premier league history. the teams also have the highest combined point totals ever. global news, 24 hours a day on air and @tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus: i will pick it up f

so what ousted white house economic adviser larry kudlow have to say. well lauren kudlow also said that the u.s. has started the process of trying to impose another 25 percent tariff on the remaining $300000000000.00 worth of goods sent from china to the united states every year but he did indicate that it's not going to be an instant process it's could take as little as 60 days perhaps as long as 3 months if not longer here's more of what larry kudlow had to say appearing on one of the sunday public affairs shows here in the u.s. we want to be as sure as we can be we don't think the chinese have come for not if we wait and see the talks will continue and i will say this is a g. 20 meeting in japan toward the end of june next month and the chances that president trump and president xi will get together at that meeting are probably pretty good. now as for whether or not these negotiations between beijing and washington are dead lauren la larry kudlow did say that the chinese have extended an invitation to the u.s. treasury secretary steve maneuver and to

president trump top white house economic advisor, larry kudlow. welcome back to fox's sunday. >> thank you chris. happy mother's day. >> i'm not sure we need to say happy mother's day to each other. >> i want to start to something you said a couple weeks ago when he said energy deals with china. >> i think round about the seven nearby. maybe even the 5-yard line looking into the ends of. chris: what your line are we are now and what set us back? >> we may still be on the fiber the seven but as i said in the clip, it's a tough insureds to get. the situation for us, from our standpoint, we were moving well instructed talks and i think that is the case we will continue as the president suggested. in history on friday. the problem is, two weeks ago in china there was backtracking by the chinese and we covered the same ground this past week with lighthizer ammunition. you cannot forget this, this is a huge deal. the broader scope and scale and to countries they've never had before. we have to get through a lot of issues for many years, nonreciprocal, u

consumers aren't paying for it is disputed by larry kudlow this weekend. we consumers are paying for those tariffs. what is interesting to me is the retaliation from the chinese has not been announced yet. i wonder whether they are planning something very dramatic. i think that is the key moment. we have to see how china retaliates. david: one of the things that struck me over the weekend was parties seemed to go further apart. over the weekend, we heard from liu he, mr. kudlow, and mr. trump, and it doesn't sound like they are coming together. marty: i think the whole notion of trump and xi talking over the phone and reaching some sort of deal, the devil is in the details. they can't reach a deal. it is the people underneath them who do. it is not going to get sorted by a phone call. alix: that is when market participants tend to say it is too important, there has to be a deal. but when you look at the underlying issues within china, chinese pride and political maneuvering, it is a very different story. it also seemed like president trump really wanted to

goods is about a $50 billion tax on the american consumer and american businesses i'm surprised larry kudlow is sitting there on the one-third of the tax cut wiped away. >> for ten months, china is paying tariffs to the usa of 25%. is that a misunderstanding of how tariffs work >> i happen to know several people who work for the president who explained this stuff to him i don't think he misunderstands it >> in other words, you think that's a deliberate? >> i think it's deliberate mischaracterization. >> because americans pay the tariffs, correct >> one way that chinese can pay the tax. two ways chinese can pay the tax. reducing profits on some of this so they may hold the line on some of the prices but the other losing the business. vietnam and thailand, those are two ways but ultimately @tax is paid and the profit margins are maintained, it's the u.s. consumer and business that pays the tax. >> what's your take about when the president issued that tweet? we sort of saw this before when the u.s. is negotiating with canada, for instance, with the usmca and other negotiations. >> i do think it

that is larry kudlow. with us isjinny yan, chief china economist at icbc standard bank.to that and you were nodding. give us your take on where we are apt in this stalemate. some say any trust has now been eroded between the two sides. it is a clear case of leaders flexing muscles but i think it is right to think both sides will suffer greatly, particularly us consumers and this is why it is important to think about the inflation effect on consumers. things will become more expensive. 0n the china side, china policy makers can roll out stimulus policies to try to boost the economy but, at the same time, that will set back some of the structural reforms it is undergoing. china has yet to retaliate to friday's increase in tariffs. what might it do? i think this tit—for—tat which has happened previously has not done anything great for both economics and politics. i think what china will continue to do is try to stabilise the economy at home and this is the critical thing. as long as the economic growth can be ensured to grow at roughly 6% this year, i think from a social st

i mean, what larry kudlow had to say is not revelatory in any way, is it?ay is not revelatory in any way, is it? know, but i think we need to go back to the beginning. because when president trump had his ma nifesto, because when president trump had his manifesto, that is one of the top things he said, the imbalances between china and the united states are unacceptable. i think a lot of people in the united states know that. but on the other side of the coin, it is all very well saying no, we're going to a bit from 10% to 25% on $250 billion worth of goods and probably increase that to $325 billion, without thinking that the chinese are going to come back with some reprisals. 0f chinese are going to come back with some reprisals. of course they are, how could you not? and we all waiting for that, and that is why markets today are a bit on edge. they don't know how china will react to this. i think this is a process, i don't think you actually go to the table and say we're going to negotiate this and negotiate that and it will be done and dusted and we will

larry kudlow, the president's economic adviser, admitted to that. he also said china will feel some pain. so how do both sides get hit here? >> well, with the u.s. it's much easier to quantify. we know items impacted by tariffs, those prices are rising much faster than the inflation rate. economists believe households will pay $500 to $1,000 on average this year. but china it's a lot harder. first of all, they don't import as much u.s. stuff as we import from them, so that's different. also, the statistics we get out of china under the best of circumstances are a little bit arky. >> dickerson: so the president has said, if you are one of those consumers who sees your prices going up, you have an option, which is to buy from another country. trw viable is that option? >> well, in some cases it can work, but in others, not so much. if you look at consumer electronics, we don't make a lot of consumer electronics here. so i think that's a very difficult thing to keep in mind. also, there is the knock-on effects. remember, some items not subject me tarif

consumer that will be hardest hit by this increase in tariffs larry kudlow also indicating it'll be at least another 3 months before all these tariffs actually start to take effect because there has to be a 60 day consultation period for the levees that president trump says he now wants to put on some $300000000000.00 worth of chinese goods that's the balance of the goods that china of course exports to the united states the language we're getting from chinese leaders continues to be fairy restrained very moderate i think that's because they want to be seen to be very much the adults in the room right now but state controlled media is not holding back in particular the global times newspaper which has a very sort of nationalistic leaning it has a very belligerent editorial on monday warning that the u.s. strategy right now was useless and also saying that china is prepared for a worst case scenario but the central thrust of the editorial was essentially this the chinese people have a far higher pain threshold than people in the united states saudi arabia says 2 of its oil tankers have

consumers white house economic spokesperson larry kudlow notably one off message in a television interview both sides will suffer from the latest trend toward more terrorists mr kudlow conceded now for a more in-depth look at the current trans-pacific trades also we are joined by our correspondent alex milledge from toronto alex welcome. thank you. alex 1st of all china's heading back heading back big what's the latest. as you mentioned 60000000000 in tariffs as of retaliatory measure for the 200000000000 the u.s. put up against china when you break it down we're looking at terrorist between 5 and 25 percent on everything from spinach to batteries that are supposed to kick in on june the 1st let's be frank when you have 2 countries of this magnitude these economies 2 of the biggest in the in the world we're going to see ripples throughout the world economy beyond these 2 nations so simply put this isn't good use but as we mentioned the last time we spoke about this this isn't quite over or even president trump of said these talks are ongoing so we might see some movement in the next couple

economic advisor larry kudlow when you heard on with stuart varney, one. things that he said was securing trade deals in addition to jobs, that might help further u.s. growth. >> these trade deals, particularly usmca i think will be very bullish for economic growth and investment. we'll see continued surge in auto workers, farming, manufacturing, so forth, so on but that's the sweet spot. connell: more on that with hector ba rote toe, from the -- barreto, latino coalition. attended a meeting at the white house complex i believe hector was about trade, usmca. the mexican ambassador on hand. take us inside of the meeting to give us the buzz whether or not people think this thing will get passed. what do they say? >> it was a great meeting t was very positive. we had businessmen from around the country, business leaders, also from mexico were there. everybody really wants the agreement to go through. timing is everything. a big issue when is congress going to schedule a vote? we hope congress down overly politicize this. connell: right. >> but as you know, co

but his economic adviser larry kudlow has been forced to admit that it will be american businesses and will pay. 0ur north america correspondent chris buckler has more. president trump did double tariffs, in fact, more than double tariffs, on some $200 billion of goods imported from china into the us, as those talks were taking place, and he is threatening even more, which he is threatening even more, which he says is bad for china because they will be forced to pay. except that's not exactly true, as larry kudlow was forced to admit when he was questioned by chris wallace on fox news. fair enough — in fact, both sides will pay. both sides will pay, in these things. and, of course, it depends... if it's a tariff on goods coming into the country, the chinese aren't paying. no, but the chinese will suffer gdp losses, and so forth, with respect to a diminishing export market, and goods that they may need for their own... i understand that, but the president says china doesn't — it pays the tariffs. they may suffer consequences, but it's us businesses and us consumers who pay, correct? yes

council of economic advisors chief larry kudlow was saying on sunday we want to be as sure as we can be we don't think the chinese have confident enough we'll wait and see the talks will continue and i will say this is a g. 20 meeting in japan toward the end of june next month and the chances that president trump and president xi will get together at that meeting are probably pretty good. in fact during that interview on sunday larry kudlow did concede questioning that in fact it is u.s. consumers who would be paying the higher tariff ultimately that money does not end up in the u.s. treasury $1.00 other point lauren there's been a lot of talk here in washington about whether the negotiations between beijing and washington have actually fallen apart and that there is no prospect now for some sort of bilateral trade deal well mr kudlow also said during that interview that the chinese have extended an invitation to both the treasury secretary steve minutia and to robert light hisor the u.s. trade representative to come to beijing for another round of talks on this bilateral trade deal

stay with us on bbc world news, still to come: larry kudlow, one of donald trump's economic advisers wrong to assert that us tariffs on chinese goods are paid by beijing. that has a television commentator, they have come for the vatican. the man they called the butcher went on trial in a temper he was the gestapo chief. he never looked like sentenced to six years in jail, the judge told mrs mandella there was no indication that she felt even the slightest remorse. an all—out effort to help the victims of the earthquake, the worst at the country in 30 years. the computed deep blue has triumphed over the world chess champion, is the first time a machinist a raining world champion ina machinist a raining world champion in a classical chess match. the first legal same—sex marriages have been taking place in massachusetts. this is bbc world news today. the latest headlines. the united nations kicks off a major push for climate change, saying the political will to tackle it is fading. there are just 11 days to go to the european elections that the conservatives admit will be difficult for

larry kudlow reluctantly admitting what everybody else already knows, u.s. companies pay tariffs, not china. >> it's not china that pays tariffs, it's the american importers, the american companies that pay what in effect is a tax increase and oftentimes passes it on to u.s. consumers? >> fair enough. in fact, both sides will pay. both sides will pay in these things. >> but the tariff on goods coming into the country, the chinese aren't paying. >> no, but the chinese will suffer gdp losses and so forth with respect to diminishing export market and goods they may need. >> it's u.s. businesses and u.s. consumers who pay, correct? >> to some extent. i don't disagree with that. both sides will suffer on this. >> breaking from his boss who falsely claimed the u.s. will be quote taking in tens of billions of dollars in tariffs from china. okay, so this trade war is not over. the administration says it's begun the process of raising tariffs on everything else the u.s. imports from china. that's another $300 billion worth. for now, iphones, toys and tennis shoes, th

the short-term pain, to quote larry kudlow, is a cost benefit. we can put up with some pain now, but we can open up china and take part in their markets. and actually have a very proper legal trade partner. then this short-term pain, according to the administration, many of those watch say it's worth it. >> harris: let's talk honestly about that. he said he was glad to hear him say that. i think it would go a long way for the president to say, "you know what? what you are feeling is real, wherever you are. but this is why we are doing it and it's going to be amazing." because it is. they have to do a better job of getting that out there. it's farmers, the agricultural community, they are getting really hit hard. it's real. if china goes ahead and starts adding more tariffs to people providing the peanut scum the sugar, the wheat, the chicken, the hogs, all of these products. >> harris: this economy is so resilient and so amazing. if we were ever going to do this, and that's why he would hear -- i would think, -- people like chuck schumer agreeing

even white house economic adviser larry kudlow admitted sunday the administration's approach hurts theu.s. businesses and u.s. consumers who pay, correct? >> yes, to some extent. again, both sides -- both sides will suffer on this. >> reporter: among those suffering, minnesota soybean farmer brad hovel. >> it's getting really tough. >> reporter: hovel says china's demand for minnesota's soybean crop has dropped significantly since the trade war began. today soybean prices reached a ten-year low. >> it is a shame they put them retaliatory tariffs on us. >> reporter: president trump says he will meet with china's president xi jinping at the g20 summit. so far that far-off prospect has not been enough to reassure nervous investors. >> so what comes next in president trump's trade war with china? jill schlesinger discussed it all with john dickerson. >> jill, let's start with the stock market, which companies were hit the biggest. >> intel, apple and caterpillar together. the three of them down 10% in the last six trading sessions. why? when you look at where their money is coming from, in

process of negotiating deal that's the real question as i say the white house economic adviser larry kudlow says he expects china to retaliate after trying more than double those tariffs so where are the trade talks now what's what's next. well khaled did indicate during that interview that the chinese have issued an invitation to both the treasury secretary steve and to robert light hisor who is the u.s. trade representative to come to beijing for another round of negotiations when that's going to exactly happen kudlow said he does not know but he did say that there are talks under way in order to get this next round of negotiations on its way but in the meantime there is a real concern that the tariffs that have been imposed in the last 3 days by the u.s. government may end up being permanent and not be rolled back as donald trump has indicated that he would consider doing if there is a trade deal actually reached with the chinese and so this idea of using tariffs as a form of leverage or a way to control the other side to was perhaps give up more at the bargaining table could end up bein

despite trade negotiations with china in holding pattern, you could say, house economic adviser larry kudlowthat is the president's strategy is spot on, the proof, even some of his fiercest critics support him. >> in order to correct 20 years plus of unfair trading practices with china, unlawful trading practices, this is a risk that we and take without damaging the economy, in my judgment the economic consequences are so small but the possible improvement in trade and exports and open markets from the united states, this is worthwhile doing. politically i think the country is completely behind the president in approach with china and as fact as you know leading democrats such as senator schumer and others have supported the president in this battle, so i don't -- you know, i think -- sometimes you can do the right thing and in a sense this is bipartisan and it's long overdue. heather: well, last year u.s. commerce department announced trade deficit with china is now at a 5-year low. ♪ ♪ heather: 2020 hopeful bernie sanders teaming up with congresswoman alexandria ocasio-cortez for a green n

goods but so far it hasn't said what the action will be president trump's top economic adviser larry kudlow said the trade war would hurt both sides both sides will take and these things and of course it was such a tariff on goods coming into the country the chinese are paying no but the chinese will suffer g.d.p. losses and so forth with respect to a diminishing export market and goods today may need for their own history on this but god president says china doesn't china it pays the terrace they may suffer consequences but it's the u.s. businesses and u.s. consumers who paid correct yes to some extent and yeah i don't disagree with that again both sides both sides will suffer on this and the polls have closed in the philippines mid-term elections which could see president rodrigo to take consolidate his power filipinos have decided who will fill $18000.00 positions including half the seats in the opera house you're up to date with the headlines here on al-jazeera the news will continue after rewind pencils and bullets i hope you just stay with us thanks for watching. thank. you. thank me

only a present donald trump's top economic adviser larry kudlow outlined the impact of the trade war both sides will pay these things and of course it was a tariff on goods coming into the country the chinese are no but the chinese will suffer g.d.p. losses and so forth with respect to a diminishing export market and goods that they may need for their own history on this but president says china doesn't china it pays the terrace they may suffer consequences but it's us businesses and us consumers who paid correct yes to some extent i don't disagree with that again both sides both sides will suffer on this. one off from al-jazeera as adrian brown in beijing. well larry kudlow scum and in a sense bear out what chinese leaders have been saying again and again namely it will be the us consumer the will be hardest hit by this increase in tariffs larry kudlow also indicating it'll be at least another 3 months before all these tariffs actually start to take effect because there has to be a 60 day consultation period for the levies that president trump says he now wants to put on some $30000

larry kudlow conceded that yesterday. tax on a lot of consumer goods, $600 billion -- no, $200 billion coming in. the retaliation is affecting all kinds of sectors. i will give you one example, lobsters from maine. exporting lobsters from maine to china, which is one of the markets we worked for years to develop, is now virtually dead because of the retaliatory tariffs of the chinese. this is, as they say, high-stakes. possibly will be successful, but i think the president has gone about it in a pretty heavy-handed way. vonnie: let's pivot for a moment to the attorney general. are you satisfied with the job bill barr is doing? sen. king: no. i think he misrepresented the mueller report both in his summary letter he submitted to congress, and then in his regrettable press conference as he introduced the report. he should have allowed it to speak for itself. know, i think the dispute about the attorney general is somewhat of a distraction. i think we should be focused more on the underlying issue of what the russians did, h