trade agreement, a series of terms and negotiations has been conducted with ambassador lighthizer in line with the u.s. japan joint statement on september 26. by now, we successfully have reached consensus with regard to the corn element of both the agricultural and industrial products, and i certainly welcome this development. >> [speaking japanese] >> mr. president has pointed out next month at the end of september, both of us are going to attend the un's general assembly, and on that occasion, we will have the bilateral summit meeting and we would like to set the goal of signing this japan-u.s. trade agreement and seizing that opportunity. we still have some remaining work that has to be done at the working level, namely finalizing the wording of the trade agreement and also finalizing the content of the agreement. but we would like to make sure that our team will accelerate the remaining work, so as to achieve this goal, reaching the signing of this agreement at the general assembly at the end of september. >> [speaking japanese] >> and i am very happy that both of our teams have

[speaking japanese] >> translator: and on this occasion, myself and ambassador lighthizer had a chance to present what we have agreed to at the ministerial level, and successfully both obtained endorsement from president trump and also prime minister abe. so the key mission for both myself and ambassador lighthizer is to complete the remaining work as soon as possible. of course i have my own team which will focus on completing the remaining work. and i sort help that by working hand-in-hand between myself and ambassador lighthizer, and also between the japanese and american teens, we will like to complete the remaining work as soon as possible. >> thank you very much. i appreciate it. >> mr. president? >> yes, co-head. >> will be auto tariffs ring a place? >> are you talking about with regard to china? >> with regard to japan. >> there are a series -- pardon me. you are series of industrial tariffs that are being reduced. auto tariffs are not in that group. >> said they remain? >> it depends. are you talk about japan or are you talking china? china is a very different situation. >> i

government, according -- including trade representative robert lighthizer. [chatter] [laughter] thank you very: everybody, we appreciate it. a wonderful day, and a wonderful deal for a lot of people. today we are signing a breakthrough agreement that will make it easier to export american beef into the european union. we have been under negotiations for quite a while and our beef farmers we did not think were being treated fair, but the eu stepped up, and we appreciate it and we have great representatives here with us today. this is a tremendous victory for american farmers, ranchers, and european consumers. american beef is considered the best in the world. we are delighted to be joined today by ambassador robert lighthizer, deputy secretary of agriculture, the european union's ambassador to the united states, and the representative of the presidency of the council of the eu. i want to thank senator john hoeven my friend for being here. good job, john. along with the president of the national cattlemen's beef association, jennifer houston. and the president

we are delighted to be joint today by ambassador robert lighthizer, deputy secretary of -- senski. since he and representative of the presidency of the council of the eu. johnt to thank senator hoeven my friend for being here. along with the president of the national cattlemen's beef association, jennifer houston. and the president and ceo of the u.s. meat exports federation dan hallstrom. thank you, congratulations. the agreement we signed will lower trade barriers in europe and expand access for american yearrs and ranchers, in one, beef exports to the eu will increase by 46%. over seven years they will increase by another 90%. the exports will rise from $150 million to $420 million and -- an increase of 180 percent. my administration is standing up for ranchers and farmers like never before. we're protecting our farmers including with china. you may have read a little bit about china lately. agricultural products and exports have increased more than $10 billion and imports have increased 31%. in another major when we opened the japanese market u.s. beef and markets in tunisia, m

lighthizer: thank you, mr.nt, for being here today and for your leadership in making trade policy work that are for all americans, but particularly for our farmers and ranchers. i'm pleased to be joined today here by the deputy chief admission of the embassy of finland, the eu member state that currently holds the presidency of the council of the european union, and ambassador , the ambassador from the eu. this agreement will nearly triple the duty-free access of american ranchers to high-quality beef in europe. initial estimates indicate that u.s. beef will grow by over $270 million a year once the agreement is fully implemented. exclusive,ew, country specific quota, american ranchers have a guaranteed market share in europe. we look forward to the european union approving this agreement expeditiously. >> mr. president, ambassador lighthizer, ladies and gentlemen, i am honored to be one of the signatories of this eu-u.s. beef agreement. [inaudible] for the usa. provides a solution to a long-standing dispute in

lighthizer assured him there is good golfing weather if you're on the green. there is a little bit of the a breeze. this is a mini deal they're working towards. this is not an overhaul, over comprehensive tray relationship between the u.s. and japan. really a few points that they are trying to agreen on. the first point would be opening up japan's agricultural markets to u.s. farm products. that is a big one. because that only, would it open up a market for farmers here in the u.s. but it also alleviates some pressure and some of the markets they have been shut out of because of ongoing trade negotiations with china and the u.s. they're also discussing potentially making japan automakers exempt from a possible car import tax that the president hinted at earlier this year. that is something that definitely is on the table. the whole plan over the next two days, the goal to get something agreed to, put on the table finalize. so when the two leaders meet at g7 summit in france, they have something to agree to, something to announce. but really that is up in the a

what seems to be happening now from the chinese side, american side is very secretive, bob lighthizer is one of the best secret keepers there is. but the chinese side, they say they are upset more now, they thought that the talks would end up in an agreement that was only what they call guidelines. not legally binding. that you could sue chinese companies in court. or that you could -- -- >> you have to keep your word to do what you say. that would be very difficult. that does not auger well for anything substantive to happen for some time. the president may well be right that nothing could happen after election of 2020 have been decided. >> yes, but trump has already had quite a impact on chinese economic growth, i, agree with president when he said several types now that if hillary clinton had won, chinese would have already surpass our economy or during her term. but it is not going to happen on my watch, we see a slowdown in china. if it is -- lou: it is a significant slowdown. it an economy that based on previous metrics, offered by the chinese government, you have to assume it i

ambassador lighthizer filed the 301 complaint to deal with the structural issues.rom there, because china didn't do anything, we put the first round of tariffs on, 25% on 50 billion. successive rounds on 200 billion. every time we did that people ran around with their hair on fire saying there would be massive inflation, consumer would get hurt. for a few days around those tariffs there would be market volatility, the market would dip a little bit. but then people would realize, as they will in this case, while this is important for trade policy, between the u.s. and china, from a macropoint of view, and a market point of view, it is smaller potatoes. if you have, what we learned, here is what we learned, charles, this is the most important thing i will say today, what we learn from the chinese, every time we put on a tariff, what they do is they dilute the power of that tariff in terms of inflation on our consumers by lowering they're prices, and by devaluing their currency. charles: right. >> from the day the tariffs went on, charles, to today, the currency the y

i, therefore, urge the house of representatives and ambassador lighthizer to focus on their specific concerns and to propose solutions in short order so that we can pass usmca. doing so will provide much-needed certainty to american workers, businesses, farmers, ranchers' families and will enhance the credibility of our ambitious global training. senator wydenen. >> thank you very much, mr. chairman, and i want to make clear at the outset that i look forward very much to working closely we you on all of these issues. colleagues, the finance committee meets this morning to discuss what needs to happen for nafta 2.0 to deliver better results for american workers, our farmers, our ranchers and particularly american families from sea to shining sea. i do want to begin my remarks by giving a big oregon shout-out to one of our witnesses, ms. paula barnett, not only because she is an oregonian, but as a entrepreneur, ms. barnett is a perfect example of why the original nafta needs a bold upgrade. ms. barnett is an artisan from brownsville, oregon. i've been in that area often for town halli

lighthizer has provisions in the agreement which basically keep tariffs in place which is expensive formericans but they are necessary, what the president has failed to do is articulate the necessity of this, this is not about selling some more wheat. this is about securing america's future, leadership in the world, protecting america's technology and so forth so all the things that we work so hard to develop in america and the prosperity that we have continues for the next generation. rob: when you look at this it seems like the smartest thing we could do for the future of country is to take medicine in tough way and cut china off. is that even a possibility? >> we need a plan b, if they don't sign a deal, i'm willing to make changes, but if they don't sign that essential deal, then we need to go to plan b and that is basically balance bilateral trade and that would push the supply chain into other places in asia, let's face it, does anybody honestly believe that we need china to get toys and coffee tables and to assemble cell phones that that can't be done some place else. no, no, chi

, a series of intensive negotiations have been conducted between minister motegi and ambassador lighthizer in line with the japan-u.s. joint statements on september 26 of last year. [speaking japanese] >> translator: and by now, i we successfully reached consensus with regard to the core elements of both the agricultural and industrial products of our bilateral consultations on august 23. and i certainly welcome this development. and now, as mr. president pointed out -- [speaking japanese] .. the trade agreement, seizing that opportunity. we still have some remaining work that has to be done at the working level. namely, finalizing the wording of the trade agreement and the finalizing the content of the agreement itself. we want to make sure that our teams accelerate the remaining work and achieve this goal realizing the agreement on the margins of the u.s. assembly in septemb september. and i'm very happy that both of our teams have been working on this specific issue in a win-win manner, bringing benefits to japan and the united states and in the entry of this trade agreement, i'm quite

we're delighted to be joined today by ambassador robert lighthizer, deputy secretary of agriculture. sennski, the european union's ambassador to the united state . and representative of the presidency of the counsel of the eu i also want to thank senator john hogan, my friend, for being here along with john, good job, john along with the president of the national cattle man's beef association, jennifer houston. thank you, jennifer. and the president and ceo of the united states meat export federation, dan hall strom thank you, dan, very much. congratulations. the agreement we signed today will lower trade barriers in europe and expand access for american farmers and ranch rers. in year one, duty free american beef exports to the eu will increase by 46%. over seven years, they will increase by another 90%. in total, the duty free exports from rise from $150 million to $420 million and increase of over 180%. my administration is is standing up for a farmers and ranchers like never before. we're protecting our farmers in many ways including with china you may have read a little bit abou

the issue here was when the team came back, ambassador lighthizer, secretary mnuchin, they reported to potus, we had a meeting on it and the president's not satisfied with the progress on the trade deal. he also was a little disappointed that he doesn't think the fentanyl issue has been resolved in china, and so he's put this 10% tariff on the $300 billion. but no, i don't want to play any games with that. i have not heard anything definitive. stuart: i have to bring you into this one as well. there is speculation in various quarters that china could impose martial law on hong kong this weekend. we just had live pictures from hong kong showing the protesters are gathering all over again. do you put anything into this at all, martial law in hong kong sunday? >> well, look, stu, i'm not an expert on hong kong. i think that would be most regrettable if your report is correct. that's not part of our trade discussions and so forth. it's a separate item. stuart: it's part of xi jinping's worries. >> i reckon so. i'm a freedom person and we want to help freedom-loving people all around the wo

trade representative robert lighthizer. they stood outside talking for a few moments about the weather. it's a very hot day in washington, 90 degrees, but lighthizer said it is good golfing weather, if you're on the green and have this slight breeze. they have been talking over an hour, not about the weather, of course, about this mini trade deal they are considering. this is not a renegotiation of the overall trade relationship between the u.s. and japan, but more of a mini deal that would be a precursor to a larger, broader trade discussion. the deal on the table addresses japan opening its agricultural market to u.s. goods in exchange for cuts to u.s. industrial tariffs. japan also wants the u.s. to give them immunity from a potential car import tariff the president threatened earlier this year. the benefit of a partial trade deal allows japan to really get ahead of a possible car import tax without having to do an overhaul of the entire trade relationship between the u.s. and japan. this is a two-day trip for the japane

look, they gave lighthizer all their markup and their changes, and remember mexico has already approved is waiting to approve this. president trump i think has cut a good deal here, he accommodat ed both of these nations particularly gets this could be tent situation in mexico so china can't gain the system, and sending products through mexico. it's a deal that works with people works with the farmers. i don't know how nancy pelosi holds us back anything but partisan politics but what president trump is trying to do on trade is reformat what the elites in this country and the corporates in this country have basically gone away to de industrialize our country, maria and also to effect and lower the wages of american workers this deals with korea and talk about with japan, the new nafta deal which i think will be approved a number one priority for the trump adminitration, lighthizer and when people come back and also e u, this gets back to the center piece the entire realignment around china because china is the one that makes a difference and the europeans and the japanese canadians and

i can tell you, just a second ago, i was in the west wing and saw peter navarro and robert lighthizerst standing just outside of the oval office, presumably set to go in and meet with the president to talk about this chinese retaliation this morning. they didn't talk to me, so i don't know exactly what they're up to there, but they are within feet of the oval office as of a couple of seconds ago. so the president tweeting, within the past couple of seconds about china, responding here, saying, our country has lost, stupidly, trillions of dollars with china over many years. they have stolen our intellectual property at a rate of hundreds of billions of dollars a year and they want to continue i won't let that happen. we don't need china and frankly would be far better off without them so the president saying here that stealing intellectual property must stop he's saying that american companies need to start looking for an alternative to china, including bringing companies home and making products in the united states. the president saying here, i will be responding to china tariffs thi

thate thing i suspect is trade representative lighthizer was not terribly enthusiastic about the 10%ariffs. that is the worst set of targets, by definition. the places where you expect to have the highest cost to yourself. i think lighthizer may have been substance respect and the -- respect in some sense, the traditional surge. a decent sized shot even now. we're are still working through the increase to 25%. we will still have 10% tariffs on another $125 billion. that is not a small shock. joe: obviously, but -- obviously, by doing this delay, trump has conceded what he said in the past. that it does not hurt the u.s.. it clearly does. is he really going to let it go? let's say there is no deal. does this just create another situation in which domestic issues, it becomes very hard to put those tariffs on. >> i have given up trying to forecast precisely what the president is going to do. in a big, deep sense, it probably doesn't matter that much whether we put tariffs on the last 150 billion. we will have put tariffs on $450 billion. there isn't currently a clear path to removing al

supported the ongoing work with ambassador lighthizer. consider open mind to possible improvements in the agreement. [no audio] will not required to any changes in u.s. law and at the same time, every day that passes is another day that benefits usmca gone realized, trying to reopen the whole agreement could risk unraveling the deal together. i therefore urge the house representative and ambassador lighthizer to focus on their specific concerns and propose solutions in short order so we usmca.s doing so will provide certainty farmers and enhance it >> i lookty forward to working closely with you on all of these issues. discussed what needs to happen for nafta to porno to deliver better results for american workers, farmers, ranchers and in particularly, american families. marks by giving to missgan shout out paula barnett, not only because she is an oregonian, but as an entrepreneur, she is perfect example of why the original nafta needs a bold upgrade. .he is an artisan forve been in that area townhall meetings and the 1800 people. about

we also understand that conversations between ambassador lighthizer have been constructed . given this momentum we hope members of this committee can work to help resolve any remaining issues so that congress can approve usmca and allow its full potential for ..s. automakers to be realized i want to thank you for holding this important hearing. >> i just want to say, welcome. his wife lives in my favor part of delaware. you have been a terrific leader. it is headquartered and we are delighted to see that happen. you are a great community leader, an eagle scout and serves on a lot of towards. [indiscernible] and he has been a scout leader for many years of his life. he and his wife have raised 12 children. i think it's like 12 children. >> i appreciate that an injection -- introduction. thank you members of the finance committee for the opportunity to be here to testify. as you have heard, my name is jim collins and i am the ceo of that aggro science. company that was spun off. it is a company with more than 300 years of combined agriculture experience. i am honored to share

government, according -- including trade representative robert lighthizer. [chatter]

opportunity to strike a free trade deal with the united states, and i was pleased to meet ambassador lighthizer two days ago to discuss that opportunity and get things moving. this is following the very positive phone call between prime minister boris johnson and president trump. i think this shows there's a real economic headwind behind our economic partnership. i know it is something the heritage foundation has done a lot of work on, laying out those opportunities. but i want to restate the case of why our two countries should be working more closely together. we are two of the freest, most democratic open nations in the world. our success is being driven by the talent of our people, not by bureaucrats or party officials. ultimately it is the power of free enterprise, by giving people the ability to put their own ideas and resources forward and obtain the gains of that enterprise that has powered our nations forward. it is the idea that people should have the freedom to create value, goods and services to sell them based at home and abroad and to reap the benefits of their own hard work. what

it's not even bob lighthizer. it's peter navarro. now, while peter navarro is a very nice guy, a smart guy, a harvard ph.d. in economics, he's not trusted by the markets. the market, most investors think the guy is like out there on the spectrum when it comes to trade. yet he's the hawk. there were several reports that said that he's the one with the president's ear on this stuff -- liz: i do have to say i spoke to him after the show on friday on the phone. he did not like when we had our big retail lobbyist, the shoewear lobbyist on, matt priest, who basically said the same thing, and i spoke to peter, i said come on the show. he said okay. he will come on perhaps tomorrow or wednesday, he said. to explain why he continues to say and have president trump say that it's the chinese who are paying the tariffs. >> if you notice, there are only two people saying that. over the weekend, chris wallace interviewed navarro, navarro said it. donald trump said the same thing. it's not accurate. i mean, it's absurd. liz: he looks at it in a way

neil: so was lighthizer for a moment there.o now, i'm wondering -- >> lighthizer sided with navarro briefly. neil: right. i'm wondering if they all hardened positions now? you have to tout the president's line, not you, but officially the line that matters and he seems to be the mind-set, i'm not budging the, i'm not giving in. goldman sachs among the firms, we'll not see a deal before the election, play that out, then what happens? >> well the president has got to walk a tightrope now. i said this yesterday on "bulls & bears," this is his base. the ag community, they're very strong red states, but how long can they stand, sustain being hit in the pocketbook? they bought in for a while as long as there was 28 billion going out to them but they will burn through that pretty quickly. neil: even the credits they're getting from -- >> i don't think it is going to be enough. no it is not going to be enough. there are soybeans at the docks waiting to be shipped. neil: when you talk to the guys, are they getting angry? are they -- >>

there's three or four other major agreements that ambassador lighthizer is working on so these tradingelationships are going to add significantly to growth and we're still somewhat hopeful that china will come around and enter into a fair, good deal with us. >> chris: let me just pushback a little bit on the idea that the only concern is trade because the president has flipped on a few issues, for instance tariffs, and taxes, in recent days and i want to play some of his contradictory statements. president trump: the tariffs are not being paid for by our people it's being paid for by china. we're doing this just for christmas season just in case some of the tariffs would have an impact on u.s. customers. payroll tax is something that we think about and a lot of people would like to see that. i'm not looking at a tax cut now we don't need it. we have a strong economy. >> chris: the issue is whether or not you can see this widely, i'm sure you've read it too, secretary, whether this administration has a steady path to keep us out of recession and the question i guess i have for you is as

i have known bob lighthizer for 30 some years. i would state unequivocally that he is an honorable man, that we are working to try to get to yes. if we can, we will. if we don't, we will fight. i think that he will try. i'm going to mexico to see if i cannot try as well, because on all three of the issues it would take at least a reopening for some of the issues. a couple of them. i will help there. if the administration insists on an up or down vote right now, we would oppose it. and i think we would be successful in opposing it. i think the mexican worker would oppose it with us, and i think the canadian worker would oppose it with us. >> mark gruenberg, press associates. >> thank you for talking with us, rich. irrespective of who wins the nomination next year, has the afl-cio, your political committees started letting plans for what labor's effort is going to be? richard: absolutely, we started a year ago. in 2018, we went through the biggest member to member program we have ever had. i will pull out a few actuals for you so th

robert lighthizer and mnuchin went back over there and things would be on a even keel.hat is obviously not the case. a couple things to remember. one of course ultimately all the incentives in the world for both sides to come to a deal. that is what is going to make ultimately china great, that will make the united states great. second of course one tweet should not cause you to cast aside your long-term goals. we like to roll up sleeves, look for quality merchandise people are making a mistake with right now. charles: i will come back to you on that. i think that is a critical point for investors in the audience. jason, we opened relatively flat. had a huge surge after disappointing economic data suggested in my mind that the fed will have to cut-rate again whether powell want to or not. we lost all of it. this is not the freefall we might have gotten a couple months. i'm shocked we're not down even more. what are your thoughts? >> as i wrote in my notes this morning to everyone i think the market, at least this morning, obviously when we were nicely in the green, they

. >> after yesterday's modest fed rate cut, right up until noon when steven mnuchin then robert lighthizerame here to the white house to brief the president on the talks in shanghai earlier this week. that's when everything went off a cliff. with this week's trade talks in shanghai producing no progress, president trump to date moved to light a fire under president xi jinping. if announcing a tariff on $300 billion in chinese goods. >> i think he wants to make a deal but frankly he's not going fast enough. >> the markets had a heart attack on the news taking more than 600-point swing. the president not worried. >> i'm not concerned about that at all, i expected a little bit because people don't understand what has happened. >> u.s. officials would only say the shanghai talks were constructive but the chinese sources say beijing is in the process of decoupling from dependence on the united states. they now insist they will not change their laws. that could be just tough talk to get the u.s. to back off but it appears things are not moving in the direction president trump wants them to. pres

here you can thank lighthizer, not trump. certainly not navarro.ighthizer is really credible with businesses. chinese are untrustworthy. i think what is going on here, once again they're trying to bicycle donald trump this will be the third time they have lured him back to the negotiating table because they're trying terribly hard to get past the election in hopes of getting a president biden who basically is an obama era appeaser. it is that simple. that will probably be terrible point of inflection for america's future, if that happens. if that happens. charles: peter, what about the idea, maybe this could be an inflection point? i got to tell you something that i think was overlooked by many yesterday. after the ustr came out said, no, we're not joking around, these tariffs go into effect, september 1st, december 15th, they put it in the public record, the market rallied. we were off 100 dow points. we closed up over 250 dow points. what is the market sensing here in the last 24 hours? >> i think there is sensing some sort of deal is in the offi

>> these things have come up and ambassador lighthizer has to the best of his ability assured us thatif there are a couple of tweaks, i don't necessarily think it would require full ratification from the other countries, from my understanding. and listen, regarding the here's a a lot of issues related to icalndustry. we need to bring those costs down so that would be something that would be favorable. but this thing is ready to go. we need to sign it. we need to help it advance our economy. we just did a great deal. the president did a great deal with japan where the china trade discussions are continuing. we've got our best people on it, right, from larry kudlow to peter navarro to am bass r doorr lighthizer who is probably the best in the country at this juncture in time. so i feel very positive and the economic outlook will be far stronger once we make this progress. i mean, our long-term growth, that inverted yield curve should get normalized when we can get some of these things completed. usmca is first on the docket. dagen: i want to bring in jessie on the usmca. insight into th

trade representative robert lighthizer says other items, some 21 pages worth of items will be delayed until september 15th. some items are delayed, you mentioned those, cell phones, laptops, videogame consoles, clothing and shoes. what will go under tariff on september 1st, a lot of agriculture, meat, milk, livestock, sour cream. steel products like washers, pipe, art, including painting, sculptures. on the call between the two delegations the chinese made stern representations they did not like the tariffs. they wanted tariffs delayed or removed. two of the trade teams, the two trade teams agreed to talk in another two weeks. the chinese are expecting to come to the united states and the u.s. is expecting the chinese to come to the united states at some point in september for face-to-face talks. today we asked the chinese commerce ministry if they did in fact give up anything to get delays with tariffs. we were told no. the plan for china, not buy u.s. agriculture, something the president would like to see. the president tweeting he would like to see agriculture going forward. that c

ambassador lighthizer, secretary mnuchin went to shanghai we're wide open to negotiations on this. that all would add some certainty. but it takes two to tango, you know that, so we'll just see how this plays out but we must protect american interests here we just must >> larry kudlow, thank you so much for coming on "squawk on the street." always great to see you, sir. >> thank you, jimmy. appreciate it. >> a quick programming note from us as well coming up on september 19th, vice president mike pence will join joe kernen at cnbc's alpha conference we never did get that speech from pence. >> that was the cold war speech. >> that was last year. there's another one expected that hasn't yet occurred, i don't believe. there was rumor of another one where he was going to come out. >> he's not about trade. he's not about commerce. he's about the existential conflict they're two different people talks about the south china sea and about religious persecution. >> larry kept saying they're open to negotiations. >> that was big. >> was it? >> that meeting is still on in early september. >>

treasury secretary steve mnuchin says he and ambassador lighthizer are looking forward to restarting to negotiations with the chinese delegation but we don't have a time frame yet when these face to taste talks will begin. kristina. kristina: thank you, hillary. jackie deangelis is at the new york stock exchange. you saw the stocks soar after the president said china wants to talk about trade. reporter: you saw them soar in the last couple minutes of trade on this optimism, pausing, if you will, maybe there will be progress made here. the president said the chinese want to come back to the negotiating table. the chinese issued a statement saying they want some sort of a peaceful resolution. the markets like that, closing 269 points higher. along for the ride, stocks with chinese exposure. nike, apple. goldman sachs trading higher. walt disney was higher. travelers was a dow winner. i want to draw your attention to tesla shares. reports are out that tesla will be raising prices in china as a result of all of the trade friction that we've seen on friday, sooner than the company planned

i'm let kudlow carry the flag with lighthizer and they will do a great job. the president is going to bring home some news. i promise you on that. it will be good news. david: let's hope it is. peter, thank you very much for being here. appreciate it. >> all right, david. david: today's trade tensions sending the markets lower. the dow closing down 623 points. the s&p falling 76. nasdaq dropping 240. stocks today losing 825 billion dollars in market cap, according to the wilshire 5,000. coming up next, we will have more on the president's trade decisions today as well as his comments about the left pushing for a recession. >>> plus, the major bust of cyber criminals stealing millions of dollars through false on-line interactions. we will have all of that and a lot more, right after a break. doctor bob, what should i take for back pain? before you take anything, i recommend applying topical relievers first. salonpas lidocaine patch blocks pain receptors for effective, non-addictive relief. salonpas lidocaine. patch, roll-on or cream. hisamitsu. i switched to g

youhe trade negotiation's, are not the lead in the trade negotiations, bob lighthizer is in the lead.an you make comments on nontrade issues until the trade issue is resolved? sec. pompeo: yes. we have made some. we have other places where we have gone backwards. the chinese have been very helpful on north korea. they have done more to enforce the un security council resolutions on north area than ever at any time in his or he. with us todayul in afghanistan in a project there, something people do not spend a lot of time thinking about. so far so good with respect to respecting our sanctions. there are places we can work with china. there are lots of diplomatic principles we have, we don't share the same values but we have overlapping interests. david: you have been to north korea and met with the leader on two locations. you have been there when the president has been there. what type of person is the leader of north korea? does he began english, do you communicate in english with him? -- does he speak in english, do you communicate in english with him? sec. pompeo: i have spent more