and joining me now, white house economic advisor larry kudlow. lcome to "fox news sunday," larry. >> larry: thank you, dana, appreciate it. >> dana: a mixed bag of economic numbers. if talking about it, the dow dropped, then it bounced back, retail sales are up. job growth continues, manufacturing is slowing down. is the administration considering any loop to new legislative policies or executive action to stave off what some are saying could be a possible coming recession? >> larry: well, first of all i don't see a recession at all. second of all, the trump growth program, which i believe has been succeeding lower tax rates, bid rollback of regulations, energy opening, trade reform. we are going to stay with that. if we believe that's the heart of the free enterprise, we want an incentive-oriented supply-side to comment to economy providing opportunities for everybody across the board and as your report mentioned, blowout retail sales. consumers, first of all, they are working. the employment numbers are terrific. the second of all, they are work

and join them in our white house economic advisor, larry kudlow. welcome to "fox news sunday". >> thank you, dana. appreciate it. >> is been mixed economic numbers this week. were talking about the dow dropped and them bounce back, retail sales are up, job growth continues, manufacturing slowing down. is the administration considering any new legislative policies or executive actions to stave off what some are saying could be a possible coming recession? >> first of all i do not see a recession at all, second of all, the trump progrowth program which i believe it has been succeeding, lower tax rates, being rolled back regulations, energy opening, trade reform, we will stay with that, we believe that is the heart of the free enterprise. we want an incentive oriented supply-side economy. providing opportunities for everybody across the board and as you report, we have brought retail sales, let me just pause there, consumers first of all, they are working. employment numbers are terrific. second of all, they are working at much higher wages. third of

the one thing i-- i love larry kudlow. it's a global economy. i'm glad american companies are in china doing business because there's a lot of customers. what i don't like is they close off markets to the american business community in china. they're required to have a chinese business partner when you do business in china, and they steal all of your stuff. every democrat and every republican of note has said china cheats. the democrats very years have been claiming that china should be stood up to. now trump sand we've just got to accept the pain that comes with standing up to china. how do you get china to change n should people of south carolina be prepared for? >> some. consumer prices on commodities are going to go up. were you fee increases at walmart. the president has backed off because he's worried about the christmas shopping season. i'd tell mr. president, listen, you have a lot more bullets than they do. the goal is to get them to change their behavior. the chinese government, the chinese army, and the chinese business community are

jonathan: larry kudlow, thanks for catching up. the national economic council director joining us from the white house. here on bloomberg tv, we are back for some final thoughts. anastasia, your thoughts. anastasia: i think larry kudlow ruled out a lot of the worst case consequences, so i think there is a constructive message to be had, and the bar does seem to be pretty low for china to agree to some of these agricultural purchases and potentially move us forward. i think the pullback we are seeing in the markets could be a buying opportunity, so anything that positions a little further toward september is how i would think about this market. jonathan: michael collins. michael: you really have to think about the knock on effects. weaker investment spending can lead to weaker hiring and consumer spending. i think we are starting to see more evidence of that trajectory. the final word is the fed policy works for confidence channels, and i'm not too confident about what is going on in the u.s. economy right now. jonathan: i don't thi

. >> my guest this morning, president trump's chief economic adviser, larry kudlow. >>> plus, taking on president trump from the left. i'll talk to presidential candidate beto o'rourke. >> we must take the fight direct to the source of this problem. that is donald trump. >> and on the right, former congressman mark sanford, focused on the growing national debt. >> i would say at this point, yes. >> also, our brand new nbc news/"wall street journal" poll on president trump, his election prospects, and his ability to handle a crisis. >>> finally, power politics. the fight over congresswoman rashida tlaib's grandfather in the west bank. how president trump is turning it into an issue that divides republicans and democrats. joining us today, peggy noonan, joshua johnson, carol lee, and yamiche alcindor. welcome to sunday. it's "meet the press." >> reporter: this is "meet the press" with chuck todd. >>> good sunday morning. throughout his presidency, donald trump has had one powerful and faithful ally, the economy. more than anything else, he has counted on the economy to help overcome do

you heard larry kudlow just now, doesn't think there'she recession coming. t white house?oplede v well, d reioinn wi t whi h fcoming for acothav urictallthstcoupleized mthk i f mesimr somendin to nkingedke well lat ba're lea sically n's is. of w sign. e other are not g>>we aint isof ourllco ing do io shta uth m stinopdes inittive. wanted to do tha the thaterd mady conslliderion. he's r igsoit looking at r ways te econ a littitcafter the sti but thleemuet is running o oionsuto . he's ralreadysed f nge economygood in america, gn the plumbins areing, the teaepctuallgoaf awer wt wubn atassi out o tue hkcansco andisg. mquel ns hidealeao wantntesswandally h scan. he'severything he can to regulation, t.an i reg ndi nst kowa, dim the ailoil fse pre nebe aiaskn >> da: larry kudlow really catheyen o ctraseenn utbendrytn t op,s hengdonalin t nina, ttehe a need i for re t inkmp thi brutish ch isroblem. sathisuy it an tful.t o haall street journal" ar t attack-- "the wall ournal" at a rally this but i tht youweekeeineres trump's unpertur, recession, and you can do something that really

that we're open to negotiations larry kudlow that says in the walt disney company tumbled as much as 5 percent afterwards reported a steeper than expected earnings decline 2nd quarter profits fell 51 percent the disappointing figures come despite strong box office gains thanks to record breaking films like the evans is endgame which became the old time top grossing film disney announced it was spending more than and to space just in the run up to its launch off its 1st bundle video streaming service in an open. talk of a video streaming when we talk about climate change we who rarely think about the internet industry we all assume the oil industry is the biggest culprit and a factor in transport in agriculture also the big climate baddies but a study from a think tank in france now suggests that the internet isn't nearly as green as you and i might have thought digital services accounted for an estimated 3.7 percent of global greenhouse gas emissions is almost twice as much as civil aviation and still about hof as much as all the world's cars and motorcycles one reason the huge serve

advisor larry kudlow addressed the impacts earlier on bloomberg. that any consumer impact will be very small and the biggest burden in economic terms is falling on china. vonnie: joining us now is the inernational policy reporter washington. you've been there for the job report today. larry kudlow is not worried. is he putting up a brave front? is this not visible yet in the data? bit of both.tle i would lean to the idea there is not a serious problem. we have 3.7% unemployment. we are running out of workers and that's making it harder for companies to hire. at some point, there may be some fallout from the trade disputes. it's hard to parse out in the jobs numbers. we do see a decline in fabrication hiring, that is what you would expect with tariffs on the steel industry. seem tolated companies be adding jobs, at least not getting rid of them. the trade dispute does not show up in those numbers yet. jobs numbers are a lagging indicator. it takes a while for that to show up. kevin: the senate passed the debt ceiling extension. that provides some ec

sorry, larry kudlow. it is time to bring out our next guest, back with us again tonight stephanie ruhle and host of the 9:00 a.m. and 1:00 p.m. hours here on msnbc. you get what larry was saying. i need fact-checking the economic indicator for us and when foreign leaders when economists and germany hear those guys we just aired, do they think it is crazy talk? >> they are utterly confused and as our business leaders. i spoke to a number of our executives today who says we are sitting on cash because who knows what the president's policies are. for his two top advisers, peter navarro to say i can say with absolute certainty that the economy will be fine in 2020? no one could say and for larry kudlow to say there is no economic indicator? larry kudlow days before the crash of 2007 said we are okay. more about historical perspective. the economy is chugging along and compares to other countries, we are doing well. kellyanne conway is right. but we are at a 10-year point in economic expansion and the way fina

the white house donald trump's economic advisor larry kudlow pointed to upcoming bilateral talks as a source of confidence. the door is open for additional negotiations. we are planning. for the chinese the in the coming year in september you know they are meeting. they have their. leadership on clay for about 10 days i think it's already begun and then no come out of that to still be ahead of the september 1 terrible line and you know we hope the economy or we hope we can have some very positive results and we go she ations that's an optimistic view the president's office said. that we're open to negotiations like. the national correspondent only bonds joins us from frankfurt only do these multi mystic tones there from a called low help. it seems to be helping here and early european trading and frankfurt where i'm standing it looks like the opening will be a little bit higher positive that's not certain yet and that's not certain even if it is open higher whether that will be the trend for the day one so yesterday on tuesday here in european markets people starting off with a bang b

that's what larry kudlow said not long ago a few moments ago. in reality the people behind the scenes are paying attention to what these trends are showing. they are worried about it and they're telling the president that, they're being honest with him and he's responding in kind. he knows a lot of his reelection hinges on the economy. that's why you're seeing the president lash out in ways about the economy. yes, i'm considering this, and then when one aide shows the president that actually, remember, president obama is someone who instituted that payroll tax cut in 2012, that's something the president then came out against yesterday, citing what president obama did. so they're trying to propose all these different ways to stave this off, and the president is responding in kind saying publicly he's fine with it, but behind the scenes aides are saying that is not the case that's happening inside the west wing. >> kim collins, appreciate it. perspective now on the money and the politics, joining us cnn political commentator david urban in additio

speaking of larry kudlow, president trump's team is trying to clean up confusion.g me on fox business another tax cut pitch is indeed coming. listen. >> we are developing again tax cuts 2.0. we're touching base with all the key people in the administration. david: but, larry, it seems that the president took 2.0 off the table yesterday. >> he didn't. i spoke to him about it. what he was speaking to was something immediate, urgent or anti-recession. we just don't buy that scenario. david: forgive me for interrupting, but how soon -- might we see more tax cuts before the election? >> before the election, yes. in fact, you might even see tax cuts 2.0, which would drive additional tax relief and create additional tax incentives for middle class folks, for blue collar workers, for small businesses. additional incentives. additional tax cuts and you might see that during the campaign, to be perfectly honest. there is nothing in the near-term. that's what the president was getting at. we believe the economy is quite healthy. we expect some relief on short-term interest ra

after the release, we will hear from larry kudlow. matt: good morning. is bloomberg daybreak europe. i am live from berlin. se are looking at allianz' earnings coming across the wire right now. companyres to the compiled estimate of 2.9 9 billion euros. it is a leading on -- it is beating on the second quarter. seen a range of 11 billion, 12 billion on the year. if they hit that number bang on, it will be no change from last year. we are going to speak with the .llianz cfo do not miss that interview at 7:00 a.m. london time. in about an hour. nejra? nejra: i have numbers coming in from credit agricole. the context is it is joining fox capital.listing the second quarter ratio, 11.6%. second-quarter revenue coming in t on -- meeting the estimate. if we take a look at some of the other numbers coming through, second quarter french retail bank revenue. versus the estimate of 875 million. that is what we are looking at there. the context -- revenue gaining. in the about a rise ratio further securing the dividends. the key return on equity. that is what we are

. >>> well, top white house economic adviser larry kudlow telling "squawk on the street" this morning that chin's economy is crumbling, adding that the president is still ready to make a deal joining us now first on cnbc, former u.s. ambassador to china and former commerce secretary, gary loch. ambassador loch, thanks for joining us today >> my pleasure >> you know, one of the life lessons that i've picked up along the way is maybe pay a little less attention towards and put more stock in actions based on the actions we've seen over the last couple of days between the u.s. and china where would you say we're at in terms of these trade talks, and i guess we should really say, this ratcheting up of tensions between the two countries. >> well, i think it's a very bad sign on both sides first, the president's announcement that he is going to raise tariffs to 10% on the rest of chinese goods that are coming into the united states, which really impacts consumers and it's going to be on clothing, electronics, toys, iphones and things like that that's really going to start hitting american ho

larry kudlow, national economic council will join us at any minute now.ut jackie, if the economy is slowing down and there are signs, today we have revisions of the amp limit figures to the downside, what do you do other than cut taxes? >> it's an option that's on the table and the president took off the table. i think it's a danger talking to much to the media even if the strategy that the white house is considering that they may not employ depending on the cell this plays out. we take every word and we pounce on it. yesterday he was doing and today he is not. he may still do it who knows. >> one obvious example is when stimulants would be taken to the pages of the wall street journal which is to in the tariffs. in the trade war, even larry kudlow himself admitted that the tariffs are in fact taxes on americans. we heard from businesses big and small and all these baha'i in the sky ideas are easy similar to the economy would do be cut taxes but the president himself put on a new seat and a positive in effect and get some revolution to the trade war. >> i

larry kudlow from france at the g7 summit. he appreciates it. >>> he said he wrote the damn bill that critics are accusing bernie sanders of softening up on his medicare for all plan. the candidate is here to defend it next. but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands? our mission is to provide complete, balanced nutrition for strength and energy! whoo-hoo! great-tasting ensure. with nine grams of protein and twenty-six vitamins and minerals. ensure, for strength and energy. and twenty-six vitamins and minerals. the first survivor of alzis out there.ase and the alzheimer's association is going to make it happen. but we won't get there without you. join the fight with the alzheimer's association. we really pride ourselves on >> temaking it easy for youass, to

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really doesn't want a trade deal. >> speaking of larry, the national economic council director larry kudlow was our guest earlier here on "squawk on the street." >> that was a very heated discussion between you and larry. >> what are you talking about? heated me and larry we go so far back. >> larry is a friend. >> we talked about the leverage that china has versus the u.s. and/or do we have more leverage. here's what mr. kudlow had to say. >> i think china is getting hurt significantly much more than we are, as i said before. so, as i said before okay if they want to wait, maybe so the chinese economy is crumbling. it's just not the powerhouse it was 20 years ago everybody knows that as i said before the supply chains moving out. >> it's not ready yet they are open for business. >> they are but aren't going to take $508 billion imports coming into the country certain industry where china is the only supplier. >> i think when you go back over the white house saying no exemption for apple. what is apple supposed to do. >> they have to eat it i'm sorry. they have to either pass it along or ac

here is what white house economic advisor larry kudlow had to say about the economy last night. >> weieve in the recession talk. i think the economy's very strong. i think the consumers are leading it. i think we had a lull in manufacturing and business cap ex but the evidence is showing there's comeback. cheryl: be sure to watch "varney and co." this morning at 9:00 a.m. eastern time, they'll have all the breaking headlines from powell's speech. lauren: larry kudlow said americans could see more tax breaks ahead of the 2020 election. >> you might even see tax cuts 2.0, which would drive additional tax relief and create additional tax incentives for middle class folks, for blue collar workers, for small businesses. additional incentives, additional tax cuts. and you might see that during the campaign, to be perfectly honest. lauren: they're trying to keep the economy revving. kudlow said the white house is not looking for any near term tax cuts. cheryl: there could be a new tariff threat for us to deal with, this time on the united states and in particular u.s. tech companies over pre

stuart: jonathan, your response to what larry kudlow had to say?kudlow was one of the few trump officials who just a few months ago essentially admitted that yes, in fact americans were the ones paying the tariffs. he didn't acknowledge that this morning but i think in my opinion, he almost dismissed the impact these tariffs are having. i wonder truly if the president wants a deal, stuart. he's talked endlessly about how china is ripping us off, taking our jobs, we're losing on trade. so the president might need an enemy which is why all the expectation that a deal is imminent, more and more it looks like a deal is not imminent and i can just bring you back once again to december of 2018, when the president started shaking with new tariffs the market went down dramatically over the course of the next couple of weeks. stuart: it did indeed. ashley: one of the interesting things you mentioned, the story you believe that's being underreported are these historically low interest rates. he said to you, mr. trump does not like the idea of the europeans m

shortly after the story broke a white house official responded, quote, as larry kudlow said yesterday more tax cuts for the american people are certainly on the table but cutting payroll taxes is not something under consideration at this time. >> joining us now cnbc editor at large john harwood and "l.a. times" white house reporter eli stoke els. john to you first. larry kudlow in the past specifically 2011 was highly critical of the payroll tax, saying it didn't work. whether it is the payroll tax or any other tax cut why should we believe it? the president was out there just before the midterm saying get ready for a middle class tax cut. we never saw it. why do we think we'll actually see one now? >> we don't. we have a trillion dollar deficit. the administration has very little credibility in terms of its economic prescriptions given where we are now. the administration wanted to do something to stimulate the economy, if you talk to economists they'd say the first thing he can do is absolutely nothing. like do nothing to inflame the trade war further. if he wants to do something re

larry kudlow from france at the g7. we appreciate it. >>> he said he wrote the damn bill that now critics are accusing senator bernie sanders of softbing up on his medicare for all plan. the 2020 candidate is here to defend it, next. fact is, every insurance company hopes you drive safely. but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands? the first survivor of alzis out there.ase and the alzheimer's association is going to make it happen. but we won't get there without you. join the fight with the alzheimer's association. i had a few good tricks to help hide my bladder leak pad. like the old "tunic tug". but always discreet is less bulky. and it really protects. 'cause it turns liquid to gel. so i have nothing to hide. always discreet. that's ensure max pr

larry kudlow talking about the burden falling on china. do you think that is the objective here, or was it designed to push the fed around? david: i think it has the attraction that it does a bit of both. i think the fed has kind of offered an insurance policy to president trump against the impact of trade policy uncertainty. the problem about being an insurer is that sometimes thing you insurer against provides some of the behavior that would lead you to do a payout. i do think president trump is focused mostly on china, but he knows this will add pressure on the fed to deliver for the rate cuts. guy: fed pricing for september went from 60% to 90% plus. 's september down now to get sequential cuts? david: quite a lot can happen between now and when the fed meets in september. one of the things that is going to happen, and addition to inevitably a stream of trump tweets and mixed messages about what is going to happen on the tariffs, we've also got an ecb meeting. i think that will also influence the way the fed is thinking as well. ado th

farmers agree with larry kudlow that the u.s. has the upper hand? >> u.s. many have given the president in spirit credit for saying let's take on china. there's been unfair trade practices. >> in spirit. >> but they have been suffering. since these tariffs were put in play, billions in arm aid have had to be doled out in china in retaliation to the president's new tariff threats said yesterday, that handshake on our last meeting about buying all those farm products, agricult udone, finished, over. >> we'll talk more about this in this hour. stephanie, ali, thank you. >>> i'm chris jansing. it's

is it larry kudlow, the former cnbc commentator? who is shaping the policy? >> all of the above.ortunately, i of depends on who is the last person to speak to the presidt. on some days, it is peter navarro, who is pushing that hard line, saying we need to take on china now, have this and battle, ultimate fight between the two powers. then you have other people like larry kudlow, steve mnuchin, who are saying, let's try to think fortunes anditical don't have a recession going into 2020. that'sreally depends -- why we've seen this frenetic approach from the president. one day he's listening to navarro, the next day mnuchin. >> so much is driven by tmp's chaotic governing style. that's really bad for investors. the other thing is that he's heading into 2020. we're hearing, despite hiss, positive commehat there's a lot of concern at the white house, behind the scenes, about what this economy is going to look like in september, october 2020. and trump is kind of run out of things to do. he's run out of tools in his tool kit. the tax cut, you know, has kind of run it course. the trade

mnuchin, larry kudlow then robert lighthizer and peter navarro on the trade team specifically all in the room with the president for a considerable amount of time earlier today. as they work through what policy options are here so presumably, we'll hear something from the president, but been taking to twitter throughout the day today to make the point ultimately that he wants american companies to pull their supply chains out of china. in fact, he used the term order american companies to take their supply chains out of china he says i hereby, american xaeps are hereby ordered to start looking for an alternative to china and he's going to offer a response to those this afternoon. we're waiting for what that might be >> where does the power to order that process reside? >> i mean it doesn't right? there is no legal authority for the president to simply tweet that american companies have to do one thing or the other. i mean there are a couple really exotic options that the president could use. i mean in theory, he could try to move the tariffs to 100% on chinese goods and that could re

larry kudlow talked about the talks being positive, giving way to more teleconferences in the next week, possibly face-to-face talks. it was a pretty indicative timeline of progress. president trump actually talked about huawei technologies in his rope line from bedminster, called it a national security threat which confounded directly some media reports this weekend that the u.s. was going to extend huawei's temporary operating license in the u.s. kind of a lot to unpack and not really quite clear what is going on. president trump talked about the relative strength of the u.s. and chinese economies and sort of gave the indication the u.s. , that chinar hand needs a trade deal more than the u.s. does. a lot to unpack and we could know more in the next few days. more, trumpis even making comments on europe as well, been a change in his , that china needs a trade deal more than the rhetoric? ros: more of a continuation than a change, some stuff about from hisd tariffs rally in new hampshire thursday night. he has been saying for a long time he thinks many u.s. trading partners including t

larry kudlow was asked about this idea. the president wants to purchase greenland. here's what he said. >> this is an interesting story. it's developing. we're looking at it. we don't know. years ago harry truman wanted to buy greenland. denmark owns greenland. denmark is an ally. greenland is a strategic place up there, and they got a lot of valuable minerals. i don't want to predict an outcome. i'm just saying the president who knows a thing or two about buying real estate wants to take a look at -- >> what is there to take a look at? because denmark has said it's not for sale. what's the white house doing here? >> ding, ding, ding. greenland has said it's not for sale. i'm smiling because sometimes a story like this would come out and the white house would shoot it down. larry kudlow confirmed this is something the president is interested in and they're looking at. what does looking at mean? the president is going to copenhagen in a few weeks. so perhaps he'll bring it up with leaders in denmark when he's there? but i think greenland's comment about not being for

economic adviser larry kudlow.iliar easing the potential for a tax cut before election day and new in person trade talks with china plus is facebook's digital currency in jeopardy a new report says some early libra backers are looking to distance themselves after a regulatory backlash. it's friday august 23rd, 2019 and squawk box begins right now. >> live from new york where business never sleeps, this is squawk box. >> good morning, welcome back to squawk box here on cnbc. we're live at the nasdaq market site on times square this morning. kelly evans is hanging out with us. >> what? kelly. >> kelly evans is here >> look at you >> what part of look at me -- >> look at you being here. >> i'm excited to be here. i haven't told andrew my news yet. >> i was just saying i thought of you immediately. >> back on social media. >> she is back on social media.

. >> so here's how the president's chief economic adviser larry kudlow tried to explain that way. >> if i can reinterpret that. he spoke to us, he didn't exactly hear the question. what he was intending to say is he always has second thoughts and he actually had second thoughts about possibly a higher tariff response to china. >> when it comes to north korea's recent missile tests, trump and shinzo abe appeared to be on two pages. this is what president trump had to say. >> are you concerned at all about north korea conducting more tests? >> i'm not happy about it, but, again he's not in violation of an agreement. >> and then there's the issue of the economy and concerns that the president's trade war could lead to a global recession. trump defended his economic policies while taking a shot at the press. >> the market is doing great. our country is doing great. everybody was telling me yesterday people are trying to copy, we cut taxes way down. get rid of regulations, large numbers, more than any president has gotten rid off and we're doing really well. you people want a recession be

paul: larry kudlow says recent calls between the u.s. and chinese trade and go shares have been positive, potentially opening the door to further progress toward a deal. president trump has reinforced that message tweeting, we are doing very well with china and talking. let's cross now to washington. did we learn anything new about ?he talks today ech interesting comment by larry kudlow saying the talks we have had this week by telephone have been more positive than indicated by each side he suggests him thing going on there and talks about a timeline with more talk in the next week to 10 days, and potentially face-to-face talk scheduled for september but not confirmed and he sounded optimistic. donald trump said the u.s. and china have been talking but did not provide details, and he muddied the waters in his comments leaving new jersey this doernoon, about i do not to a trade deal with china yes, and china needs to do a dealt more than the u.s.. there's certainly nothing terribly clear coming out of the white house. i think after the d

. >> larry kudlow there, the president's chief economic adviser, but over on capitol hill, more congressionalemocrats questioning the administration's policies and i should point this out, leland, the same goes for 2020 democratic candidates out on the campaign trail. >> that's the best possible way to come to a conclusion that benefits our economies and ensure that is we have a stable global economy going forward because i'm afraid that this president is driving the global economy and our economy into recession. >> beto o'rourke there talking about the best way forward is to not continue this trade back and forth with china. i should point that in a week or so we will hear from chairman jarome powell, interesting to measure impact not just on markets but also chance to gauge the white house's reaction, the chairman to speak on friday. we are also looking forward to housing numbers, new home sales, i think that's on a wednesday, i will check the metrics on that and see what the president working with negotiators on talks with china, interesting week, back to you, my friend. leland: the presid

larry kudlow used to say when he was pretending to be an economist on cnbc. and so the economic buffoonery of donald trump and incompetent band of economic advisers is catching up with them. yesterday the stock market rallied a bit after donald trump announced that he was once again delaying imposing more tariffs on china that he had been threatening to impose but when donald trump explained why he was delaying those tariffs until after the christmas shopping season, even he could not figure out a way to continue to pretend that anyone other than american consumers are actually paying the trump tariffs. the president said yesterday, "we are doing this for the christmas season. just in case some of the tariffs would have an impact on u.s. consumers." "just in case." "the christmas season." he wasn't finished. "just in case they might have an impact on people, what we've done is we've delayed it so they won't be relevant for the christmas shopping season." "an impact on people." donald trump is not trying to preserve the christmas shopping season in china. he i

here is larry kudlow. >> every single one of those leaders that something has to be done with china unfairtrading practices, every single one express support on the very key point, i'm just saying the contentiousness and argument that some people were writing 48 hours ago are not happening. eric: there's the recognition that china has to be faced? >> absolutely. and the europeans themselves will tell you it. you know, we've been in diplomatic circles, we've heard it and we heard that china is taking on an an an an >> the foreign minister of iran is there, france invited them obviously try today push back against iranian nuclear deal, this comes as iran has threatened the private american citizen, the state department pushing back saying saying sayie in tehran will face consequences if anything happens and tehran announcing sanctions on them and basically threatening private american citizen in the fdd because of spoken efforts for the iranian people for democracy and freedom in their country. >> that's right, eric, like a throwback to the days when they wrote the controversial book. early

you've got larry kudlow. it seems there is not a lot of people minding the stores just as a general staffing matter. >> you've got a whole bunch of senior aides and senior officials in trump's world right now whose number one priority seems to be backing up what the president of the united states thinks is the current reality. >> right. >> obviously that might not actually jive with what actually is the current reality, but among president trump's personal reaction and ongoing strategy to the bad economic news, it appears he has a two-tier strategy at the moment. it's a calm strategy. blame the media and fed chairman jerome powell. he's said for years going back to at least 2017 when i spoke to people who have spoken to trump about the economy and recessions in the abstract going back to the first year of his presidency that he does believe in self-fulfilling prophesy when it comes to economic news. he believes if economic news bubbles up in the media and more cable news and radio and tv invite pundits on to

stuart: larry kudlow, always a pleasure. we thank you very much for being with us again today. good stuff. >> thank you, stu.

. >> and larry kudlow playing cheerleader in chief on "meet the press" and the other shows. take a look. >> i sure don't see a recession. we had some blockbuster retail sales consumer numbers toward the back end of last week, really blockbuster numbers. you know, what we've got here, consumers are working at higher wages. >> right. >> they are spending at a rapid pace. they are actually saving also while they're spending. it's an ideal situation. the second half, the economy will be very good in 2019. >> 39% of those polled approve of the president's handling of the economy. 33% approve of him overall. the economic numbers are a bright spot for him. jillian tete, what about the real economy? the president seems to react to the market the way he reacts to polls and we had that 800-point drop last week, the markets recovering today. last i checked, partly is it because germany said that they're going to goose their economy that's lacking? what are you seeing globally? >> here is the key issue. when larry kudlow came out and said that consumers are doing great, he was correct,

[inaudible] >> reporting in cn, in that larry kudlow -- >> i hope not, i love larry kudlow, i think he'sc job, he has been going through health problems as you know, but i watched him this morning, he was terrific. i think larry is a terrific guy. i haven't heard that at all. [inaudible] >> i saw that they've had the worst year in 27 years because of what i've done and they want to come to the negotiating table, you know, they are having companies -- the companies are leaving and they are laughing off millions of people because they don't want to pay 25% and that's why they want to come to the table, i don't think any other reason, president xi likes me very much, they are losing millions and millions of jobs in china and we are not paying for the tariffs, china is paying for the tariffs for the 100th time and i understand tariffs work very well, other countries it may be that if i do things with other countries, but in the case of china, china is eating the tariffs. at least so far. >> a lot of the economists say that -- [inaudible] >> yeah. i'm prepared for everything. we are doing tre

. >> one person who felt that way was larry kudlow. month before he joined the administration, he wrote about what a terrible idea tariffs were. he's now the president's closest economic adviser. so who is the president listening to when you see him make moves like he did yesterday, clearly showing that propping up the stock market is his number one priority? >> well, the president also said around the time larry kudlow and that news came out, he said, don't worry, larry agrees with me that tariffs are a good tactic. so perhaps larry got more than he bargained for. >> did he agree with the president? >> i believe, and he has said, and the president has said that tariffs were a negotiating tactic, but they are clearly very much more than a negotiating tactic. they are the blunt instrument that the president prefers to use in every scenario, whether it's immigration, whether it's national security, whether it's trade. so he has made it clear he likes it, he gets the results he desires, he believes, and he thinks they're effective. >> but

could someone top larry kudlow? david asman had things turning around.u in 60 seconds. s! and you know what goes great with that shrimp? steak and unlimited shrimp! and this year, with two freshly made sides, you'll get more than you imagined. hurry into outback now for our steak and unlimited shrimp. outback steakhouse who used expedia to book the vacation rental which led to the discovery that sometimes a little down time can lift you right up. expedia. everything you need to go. expedia. ♪ here i go again on my own ♪ goin' down the only road i've ever known ♪ ♪ like a drifter i was-- ♪ born to walk alone! ...barb! you left me hangin' on the high harmony there. if you ride, you get it. geico motorcycle. 15 minutes could save you 15% or more. >> charles: with stocks selling off, president trump getting ready to head off to prance and the g-7 summit and getting ready for fights on multiple fronts. hillary vaughn could be attention convention this weekend. hillary? >> the white house is teasing this g-7 summit as a chance to talk to trading partners about

last night, though, i talked to larry kudlow in the white house driveway and larry kudlow as of lastconomic council director at the white house, still confident the chinese side would negotiate in september. here's what he said last night. >> we are still planning for the chinese team to come over here in september i don't want to name a date or anything, but we're waiting. so the deputy's call is quite constructive. >> so larry kudlow suggesting talks are still on for september and now see retaliation this morning. the question will be for the white house this morning whether that means talks are on or off all of that going to be overshadowing the g7 over the weekend. the president meeting with advanced democratic leaders in france over the weekend china not invited to the g7. of course, not a member of the g7 leaders there, advanced western democracies taking part. the president of france is invited a number of other countries to sit in on the g 7 this weekend china not there even though it dominates headlines. >> eamon, thanks watching futures react to this news china in retaliati

didn't mean to correct you, but it's even more striking. >> i even think larry kudlow thought the samehing. i think, look, you can use tariffs like he used it with mexico. short-term if you're trying to put pressure to get a result right away. but in the case of china they are playing trump. this is concerning politically for a lot of republicans. >> you know, ian, if you're going to take on china, you need more allies. i look at the makeup of this current g7. how ready are some other members of this g7, how ready are they to start working more with china than the united states? >> uh, you know, i wouldn't say they're ready to work with china more than the united states. but, my god, they want a hedge. the funny thing, chuck, is the timing's actually good. the u.s. economy is doing quite well. the chinese economy is weaker. they have got these problems in hong kong. they're real, they're significant. you know, the fact is that the united states doesn't need labor in the supply chain the same way they use to. so there are a lot of american companies that would love to be able to get rid