lou: joining me now, peter navarro, director of trade, industrial policy, director of the white houseational trade council. peter, great to have you with us. i don't know about you, but i'm getting a kick out of reading headlines on various news outlets talking about, well, it's judge kavanaugh's confirmation uncertainty, it is rod rosenstein's uncertainty, it is trade barriers and tariffs that are creating uncertainty in a market that that has already exploded to new highs over the last week. i mean, you must be laughing day in and day out as you watch the business press try to cover these issues and markets. >> i think there's a lot of frustration among the trump haters that our economy is doing so well and that this stock market is looking correctly at these tariffs on china and our other trade actions. it's actually beneficial to global economy. lou: absolutely. >> lou, we've been talking about this for years, how we need to restructure this global economy in a way where trade is free, fair and resip p procall, and president donald j. trump is really exhibiting leadership on this.

i'm joumanna bercetche white house adviser peter navarro tells cnbc china must stop ripping off america when it comes to trade, beijing warns u.s. exporters will get hurt in this trade war >> they know what needs to be done the challenge, of course, is that they engage in so many egregious practices it's difficult to get a deal with china than it would be with mexico there it is. >>> sweden's prime minister will step down after he loses a vote of confidence sending the krona lower against the dollar. >>> comcast gets busy buying up sky. the u.s. cable giant acquires over 500 million shares at its offer price and is looking to buy more to reach its 50% target. >>> and next raises its full-year profit guidance after sales in august and september top expectations despite an uncertain year ahead >>> good morning happy tuesday. let's look at how markets have been doing yesterday i should tell you that the dow saw its worst day in more than six weeks. this is on the back of a flurry of conflicting reports about the future of the deputy attorney general, rosenstein. we saw the u.s. index dow e

peter navarro. congratulations. this is a boom like the 1980s. what is the headline in today's economic figures? >> you are right about this. you and i go a long way back. talking numbers, how they affect wall treat. this is extraordinary. we have millions of jobs created since the president took office. we are seeing strong wage growth. i always like to try to kate to where the puck is going to be. and what i like about these numbers is business confidence is really off the charts. when you combine that with the strong manufacturing numbers that also came out this week, that means we are going to continue with these numbers. we'll have a lot more investments. on the consumer side you have got consumer confidence off the charts. when you combine that with wage growth, it means we are going to get the con sum sun -- the consumption driver going. good today and looking good for tomorrow. what this president is doing is extraordinary. it's an extension of what he promised to do. i was part of that campaign, i was probably on one of your shows during

joining me now, peter navarro, assistant to the president, director of trade industrial policy and director of the white house national trade council. peter, first of all, good to have you with us. this is consistent with everything the president has said throughout. he means to balance trade, he means for it to be fair, and he means for chinese theft of u.s. intellectual property, some $600 billion a year, to end and end forthwith. >> what a courageous and visionary decision by this president. goes back to a campaign promise fulfilled now. china basically, as everyone knows, is just stealing our stuff. they forced the technology transfer when companies go over to china to try to sell into their markets. every day they engage in cyberintrusions. basically they are a predator. this president is standing up to chinese predation. so far the chinese have responded not by changing their behavior, but rather, by slapping tariffs back on us, and engaging in the bullying of our farmers. so today is historic. to be clear, it's 10% on $200 billion, roughly $200 billion now, and then january 1st, that

tariff of their own and let's be clear that on the white house trade council we now have both peter navarro and tim life hisor both of them are academic economists in the united states who have made documentaries and publish books and have been known for bashing china accusing china of foul play and urging more tariffs and protectionist policies in response to china on the global markets now at this point in the aftermath of this two hundred billion dollar tariff at this point eighty five to ninety five percent of chinese imports it is estimated will be subject to a tariff eighty five to ninety five percent of chinese goods imported to united states will be affected not a small number by any estimate now it is important to note that the statement did end on an optimistic tone it ended with the sentence hopefully this trade situation will be resolved in the end by myself and president xi of china for whom i have great respect and affection so there is almost a tone of optimism at the end of the statement say father has been no official response from beijing to the latest announcement that th

joining me now the office of trade and manufacturing policy director, peter navarro. you this morning. you heard the good news. >> giddy up. where's my horse. my kingdom for a horse. dagen: what can you tell us about china many coulding back -- china coming back to the table, the vice premier coming to the united states about continued talks. can you give us insight into when and if that's going to happen. >> the chinese indicated they wanted to talk. we're happy to listen. it's no secret what needs to happen, dagen. there's a long list at my office at the white house, prepared a report that had over 50 different unfair trade practices the chinese engage in. the united states trade representatives did the report on the 301 investigation which documented how china steals our technology, how they force the transfer of literally dozens of and dozens of unfair trade practices. the chinese need to know what they do. i think the markets are getting this right in the sense that this is the time for china to be held accountable for its nonmarket economy behavior, for its chea

the friction of gary and peter navarro. trump created that and revels to it. >> i think we last spoke ten hours ago and spoke about methodology and both seen and you had noted on twitter, the tweet of david maranis, one of your fellow reporters at "washington post," biographer, who had said he would stake his life on the accuracy and methods in effect of bob woodward having known him for 41 years. so it strikes me we could have a second day of the white house questioning the goods, questioning methods, questioning voracity and the point you were making last night is, be careful. >> yeah. you know, i think the white house is going do have to tread carefully. bob woodward is not just any journalist. he's been at this since watergate. he took down a president then and he's been chronicling every president since. he's done 19 books and he has a very clear method. he does interviews and collects documents. he has e-mails, things on tape. he really builds a reporting foundation behind the narrative that he writes and so it's not

-- be sure to catch maria bartiromo's interview with white house direct your peter navarro tomorrow on "mornings with maria" at 7:00 a.m. eastern. thank you for watching for charles payne is here now with making money. charles: good evening i'm charles payne. catastrophic flooding in the southeast as hurricane florence leads -- leaves a path of distractions. thousands of them stranded to have a live report from north carolina covering up their first president trump is expected to announce he's applying new tariffs on to order billion dollars in chinese goods. meanwhile what was her saying even if china does cut a deal to supply chain will move onto cheaper nations. the question is what about human rights? labor child labor and other harsh convictions. the time to finally address those issues as well? he are discuss "fox news" contributor deneen gorelli and editor of "the weekly standard." let me start with you deneen. there are a lot of organizations one says there's up to $144 billion in u.s. imports coming from murky circumstances. it could be child labor, forced labor, labor or situ

>> well peter navarro says you don't.nderstand that but -- >> i think it is a negotiating tactic. >> we are trading partners but i don't know why we keep coming at this, the media from a position of weakness. canada needs america a lot more than america needs canada. a whole lot more. so push comes to shove, and they don't want to be fair, believe me, there have not been fair. particularly when it comes to protecting what justin trudeau has called his national interest. we saw them earlier with tpp, it is protectionism. it is all right for them to practice protectionism but unfair for us to complain about or say let's -- >> we are not exactly saints. >> i think -- we have some tariffs but we have the lowest. we spend more money, we spill more blood, we build more countries, america has stood tall for the free world and we have lost lives and trillions of dollars. i think it is time to save your our friends why are you giving us this on these things? >> let's not forget it is number one market. also want to say i think you

peter navarro two economist in the united states who have been kind of known for bashing china and accusing china of foul play have been included in the trade council of the white house and have been advising donald trump in these ongoing negotiations with china so this is been much anticipated people were expecting trump had threatened a new tariff of two hundred billion dollars it seems we have that tariff now before us with this white house statement now what is interesting about the white house statement i will add is that the statement actually does end on an oddly positive note the final sentence of this statement announcing this new tariff on china reads hopefully this trade situation will be resolved in. the end by myself and president xi of china for whom i have great respect and affection so despite the fact that they're imposing this this big tariff despite the fact that they're accusing china of play the statement itself does end on a rather positive note so we're going to have to see how the market will react we're waiting for a reaction from china to this announcement from the

when peter navarro says i am happy then this ends notice peter navarro -- >> was it navarro's idea toaise your hand and ask for talks again? >> i think navarro's idea is to go to 35 >> most people would understand why he said that >> by the way, tim cook says we'll fix this and life will go on jack ma sort of painted a different picture at that alibaba investor day take a listen at that. >> if you want to have a sharp solution, there is no short term solution china/u.s. trade lasts for 30 or 40 years there is no problem and it is impossible >> obviously carrying some water for chinese leadership there he said it would be a mess for all sides that you need new wto. you need a wto refresh because of these weak trade loss >> right >> i think that -- one of the things that happens is we are spending society we spend than any other country. we spend it on a lot of stuff and a lot of the throw aways from china the point is our landfill are filled up with plastics from china. >> you are with me that's what i have been waiting for. i have been waiting for you to come right down the pipe where

united states imposing new round of tariffs on each other escalating the ongoing trade battle peter navarro, office of trade and manufacturing policy, had this to say on president trump's trade strategy yesterday >> there are allies and partners and strategic rivals like china ripping us off and the american worker off and the president is going through these areas whether it is mexico, canada, japan, china, and so on, and in europe and basically calling them to account and getting to the bargaining table and getting a better result for the american people >> let's bring in larry lindsey. i was going to start in a different place because i want you to explain some of your numbers. but let me just get your reaction to what you heard peter navarro just say is the president getting recommendations that are benefiting the american worker and the american economy, the american people? what do you think? >> well, i think that the process will end up there. you know, everyone, not just america, but everyone has been ripped off by china now for decades and decades. and we did it for good reason. we

different from peter navarro, who often gets more press than bob lighthizer.nt aspect, and that is that bob lighthizer is a creature of washington. he is very practice that washington politics and really knows the trade law and how to deliver on some of these often vague and sometimes impetuous trade ideas you get out of the president. you paint such a brilliant picture throughout your piece, talking about his brother and the lattice lifestyle -- lavish lifestyle he managed to build up, but he has always been a hawk on china. sean: absolutely. that is the other thing. he is front and center in these nafta negotiations, engaging with the eu and japan, but this is a man that has been preparing for one battle the last decade or two, against china. you can go back and he is there writtenand congressional testimony, laying out a course of action that looks a lot like what is playing out now. that is testing the boundaries of the wto and the rules there, pushing china harder than anyone has and taking a skeptical view at the whole establishment position of allowing

and on the other side, you have a wilbur ross, peter navarro, they have won the fight, it seems.hey have got the ball. they are moving quite quickly on nafta, or at least trying to. tariffs are the tools they have decided is going to be the most effective in trying to bring about your reshaping of the trade deals. carol: washington is coming on on a big week on fed rates. this week's cover story is an in-depth look at jay powell's first months in office, a story that leads the politics section. jason: the fed chair is not supposed to be in the politics section, but we can think donald trump put him there. -- for putting them there. his tweets test the principle of central bank independence. carol: it does. one of our veteran fed watchers joins us now. >> unlike janet yellen, he has made a concerted effort to go on capitol hill and pound the caucus, as he puts it. he has visited about -- in the first six months, he has visited or spoken to about 45 lawmakers, roughly. that is three times the amount that his predecessor did over the same timeframe. behind this, of course, is our tw

all of that and joining conversation peter navarro will walk us next steps on china. house majority leader kevin mccarthy is here first on fox, and senate judiciary committee john kennedy and david perdue is with us here and fox news jack keane also with us this morning. don't miss a moment of it, we have big 3 hours coming up. let's kick it with top story, america's message to the world, president trump will address the united nations general assembly later this morning, 10:00 a.m. eastern where he will push forward global agenda for the united states. we are waiting for that speech, but we kind of expect, jon, that he will be talking about america first but deals with partners around the world, what are you expecting? >> you know, i think we might get a slightly many consultory tone, on the one hand we had north korea, he's speaking to the leader of north korea, surely he will address that, i'm interested in what he says in trade agenda, we are picking a fight right now with the chinese but just this week we have the president doing a deal with south korea on trade,

peter navarro, the white house trade advisor, he has been optimistic.here is momentum in the united states to get this deal done. worried about their supply chains, especially between the u.s. and canada as well as to mexico. they have made their thoughts known to the white house. i think canada really feels a lot of urgency to get a deal done. as always, and has been the case for over a year, a few things that neither side wants to give up on. haidi: what are the major hurdles and in terms of issues both sides are stubborn on at the moment? actually some of the ones on the canadian side would be they want to get a free pass from the net its mates -- from the united states to not subject steel and aluminum tariffs. saying those tariffs is something the u.s. wants to put on in the name of national security and canada reasons that as a strong u.s. ally, it should not be subject to those tariffs. the u.s. wants to get access to the canadian dairy market, which has pretty high barriers, protective barriers. i think the u.s. negotiators the u.s. can threaten

let's bring in trade director peter navarro. here is your opportunity.ou talk about the economic numbers and democrats want to talk about the numbers. and president obama claims to have laid the groundwork. >> the obama thing, it's interesting. i mean, i was on the campaign trail with the president and hillary's surrogates there were always saying how we could never grow over 2%. when obama left office growth was 1.6%. here we're hitting over 4% in the latest quarter and if you think about it, if you just look at obama's policies, right? are you going to get more growth with higher taxes or lower taxes, right? obama raised taxes. are you going to get growth with more regulation or less regulation? obama raised regulations faster than almost any other president in history. so there's no -- you know exactly why that economy was growing slow with obama, and of course, all the trade. he was sending jobs off shore just like his predecessors were at the rate. we lost over 70,000 factories and 5 million jobs since 2000 because of his policies and his predecesso

if you think of the likes of the ustr's robert lighthizer and peter navarro versus moderates like stevenuchin, the treasury development -- department and larry kudlow, it seems as though the light heiser-navarro team are winning out. announcingadying, positions of $200 billion. when the consultation ends this thursday, that could be friday morning asia time, china has said it could respond with duties of its own on $60 billion of u.s. imports. it will be a very pivotal week whether this amps up into more of a trade war given the fact there are no negotiations planned at all. ford is the hearing latest falling victim of these tariffs. what is the detail? david: you could call it that but ford was planning starting next year to build this new focus active crossover suv, a small suv into china and exporting, but the new levies on it notit basically makes very economically viable. the ford president of north america saying resources could be better deployed. they were only protecting -- projecting to sell 50,000 in the u.s.. they sell 2.5 million in the u.s. domestically, so it is a symboli

when peter navarro sold the trade war concept, his initial interviews in that wall street journal editorialh is history, they said what about retaliation? he said there will not be retaliation. what happened to the forecast? you said economists made forecasts. they made weathermen and astrologist look good -- astrologists look good with the forecasts. [laughter] david: we are in such uncharted water. maybe i am trying to avoid getting one of the hiccups. [laughter] david: the fact is, i don't know. cliffe in an unfolding shock narrative which means you cannot forecast it. there are nosy scores -- no z scores. ramy: no trend lines. david kotok, a pleasure having you on. chairman. advisors coming up, from china to canada, it is a big week for the u.s. on the trade front, as we have been talking about. tim keeler joins us next to discuss the outlook. this is bloomberg. ♪ haidi: i am haidi stroud-watts in sydney. ramy: i am ramy inocencio in new york, and you are watching "daybreak australia." u.s. automakers sold more than 16 million cars and trucks over on its, but most of them actually misse

i was thinking peter navarro. trish: i know peter. >> who is leading the train?opefully, and i agree with you, trish that would be the path to go down, absolutely. trish: mark, good to see you. thank you so much. we're going to get some more color from the president on the kavanaugh hearings, et cetera and trade as well. this is very much in focus right now. there is expectations canada is closer to reaching a deal with the united states of america. we have seen success on the mexican front. can that be reached with canadians? the president is threatening $200 billion worth of tariffs on chinese imported goods as we try to deal with the chinese head on. it is something that very few presidents, i can't think of any of them, that have been willing to take on because it is such a contentious issue and one that really could have a very significant effect, near term effect on our economy. but here is the president talking about it now. >> thank you very much, a working group with representatives of the emir and kuwait and we're working on some very large transactions

give peter navarro one thing he raised consciousness, and donald trump, all the bad stuff china doesn trade, stealing intellectual market, no doubt. they have a huge market and booming economy even as they slow down and our major businesses want access to that economy. they want so much access to the economy they were willing to give up intellectual trade secrets to get access to it. there is where the conflict is. they all want to do business there. it is good for these companies to do business there. the u.s. sells a lot of stuff to china we point out. we buy a lot of stuff but we sell a lot of stuff. the trump administration makes a very good case about them being bad actors on international trade and now we're having a conflict. i think of all trump's trade agenda, some i think is insane, this is real. listen, china is a very bad actor. they violate human rights. the journal, "new york times" had a huge story about persecuting muslim, chinese muslims. this country acts, this is a totalitarian regime that we have to be very leery dealing with. they want to steal our lunch, there i

getting to the bargaining table and getting a better result for the american people >> that was peter navarrosting our allies over bad trade deals. his comments coming moments after the president inked a new trade deal with south korea. the president calling the pact a big deal and a great day for the u.s. it is president trump's first major trade deal since taking office >>> a senior chinese official says it is difficult to proceed with trade talks while washington is putting a knife to china's neck comments follow a new round of tariffs which went into effect yesterday. china is also accusing the u.s. of trade bullyism and said the timing of new trade talks will depend on the will of the united states. >>> trade tensions remain front and center, but stocks still don't seem to care much. the dow is up more than 2% this month with everything else that's going on. let's bring in ken cayman. the market has shrugged off. this kind of language has been used since march or april. the markets have not seemed to care you think they will care about the midterm elections in a couple weeks >> yeah. tha

i think peter navarro came on this show on march 2nd and said i don't believe any country in the world is going to retaliate against us. so far we've had retaliation on over $100 billion in u.s. exports. i'm sure china is going to continue matching to the extent we can. we've had retaliation by the europeans, japan, mexico, turkey, a number of other countries. we can talk about short-term improvement in the economy and monthly job reports and the stock market moving up or down in a way, but these are long-term actions with long-term implications -- liz: let me jump in here, speaking of long term, dallas fed president robert kaplan, while he didn't denigrate the trade war with china, he said with ed lawrence on fox business, hitting the wires all afternoon and morning long, he said this could last years. now that said with, this latest 267 billion that the president dropped like a grenade during the discussion with reporters on air force one. how do you think china is reacting behind closed doors? xi jinping and president trump started off on a great foot in the first year of the united

we'll make a deal with the chinese unless you're hearing it from an outspoken protectionist like peter navarro. still, even though tariffs and trade remain in the driver's soot something different about today's action the industrials held in just fine many did quite well like united technologies, what is going on there? is a split-up coming normally they get punished but the border market gave up most of its gains so, please, let's learn from today if not from the other ten days this is happening. don't be taken in the next time treasury secretary mnuchin maybes it sound like we're making progress with china he is not in charge. withthat in mind let's look at the game plan. first on monday, we hear from fedex and from oracle. we pulled up with the ceo of u.p.s. on "squawk on the street." he talked about the opportunities and challenges in an increasingly e-commerce dominated world. i don't envy u.p.s no matter how fast you are and how much you spend on workers it's nearly impossible to get the holidays right you never know when you're going to get some sort of surge in demand you're not thinki

there's a punishment factor that seems attractive to him that peter navarro feeds and our good friend larry kudlow is fighting the good fight there's a different mind-set within the white house when it comes to trade that isn't fully appreciated. >> do you think you get a deal before the election, and do you see the election risk that i snee. >> a deal with china no >> here is another question -- >> hold on on the election risk, you have to think the house and the senate >> they kept tax cut 2.0 from going through. >> but, joe, the repeal you talked about -- >> no, no, no, no. to ron's point all you need is the house to block the tax cuts. that's a problem for the market. >> i agree that it seems like a punishment thing i'm going to throw it out and you don't respond. i will make it worse and you don't respond. don't we have enough checks and balances built in to our procedures -- >> no. absolutely not i don't think so the other thing, too, this could have all been handled so much better had we joined tpp had we, in fact, cited and licensed more terminals to sell liquefied natural gas

one thing that's clear is there is a split within th trump administration between people like peter navarro and u.s.t.r. and the trade representative, who ar pretty hawker on trade, steve mnuchin, the treasury seetary is trying to cut a deal, and the doves here seem to be losing. >> yang: secretary of congress wilber ss says american consumers aren't ral he going to notice this because the tariff are so small. do you agree with that? .> no, i don't wilbur ross is a pretty rich3-g. i bet he doesn't pay that muchnt atn to the prices of things he buys. we know that overall this is only goi to have a dest effect on prices in the united states. but in those affected industries and those groups, i going to go up. there's an electric bike maker in seattle, rads, bihat's raised the place of $1,500 bike by $200. washer and dryer prices have gone up 15% in the last several months because of president trump's tariffs on steel and the tariffs on imorted appliances. so in those industries that are affected, the prices could go up quite a bit. lvnow, one si lining at least for some of us is because the c

testify to mark the -- be sure to catch maria bartiromo's interview with white house direct your peter navarro on "mornings with maria" at 7:00 a.m. eastern. thank you for watching for charles payne is here now with making money. charles: good evening i'm charles payne. catastrophic flooding in the southeast as hurricane florence leads -- leaves a path of distractions. thousands of them stranded to have a live report from north carolina covering up their first president trump is expected to announce he's applying new tariffs on to order billion dollars in chinese goods. meanwhile what was her saying even if china does cut a deal to supply chain will move onto cheaper nations. the question is what about human rights? labor child labor and other harsh convictions. the time to finally address those issues as well? he are discuss "fox news" contributor deneen gorelli

what has national trade council director peter navarro says it's time to hold china accountable. >> this to be held accountable for its nonmarket economy behavior, for its cheating going forward, we can't have a healthy global economy if one of the biggest economies is basically a predator. >> melissa: i'll ask you this, the president tweeted china has openly stated they are actively trying to impact and change our election attacking our farmers and ranchers, industrial workers because they are loyal to me. what china doesn't understand is that these people are great patriots and fully understand what's going on. >> jason: the reason we have a donald trump who became president trump is in large part because of this issue. you had blue-collar democrats who went the president's way, they were tired of what's happened over the last few decades on both sides the aisle, they wanted to try something new. the president is taking a very tough negotiating stance and i think he is willing to pull the trigger and say let's go to zero but if you're not going to go to zero, then we are certainly goin

we don't do tariffs, and you and i agree and every economist agrees that's a bad move -- >> not peter navarro okay, sure, what do we do about chinese abuses of the world trade system. >> we should point out that every economist agrees, larry kudlow, the president's economic adviser, might sing a different tune, but he doesn't like tariffs either. walk us through china's position though. in the short term this does hurt china. what position are they in? they do want to ship a whole lot of stuff here. >> they have a long-term goal as well, they have an industrial policy. we don't. >> and the president is in that seat forever. >> exactly right. economists talk about the value chain. the more difficult it is to make something, things like aircraft, we're really good at that, the more educated your workforce has to be, the better skills training you have to have -- >> i love you, but we've got to listen to the president speaking outside marine 1. >> we're really just going to say hello to all of the folks from fema, the military, the people that are working so hard. and i think it will be an incre

peter navarro, robert lightheiser, i think those guys understand it.t think president trump understands it. joe's initial question is trump doesn't understand it. he thinks they is somehow being paid by chinese. we're tariffing at the moment $20 billion. we have a budget of $4 trillion. this is a rounding area in the great scheme of life. >> there are so many cases where this president actually doesn't understand how the world works, doesn't understand how trade works, doesn't understand how international organizations work. the president talking about the chinese paying tariffs reminds me of him talking about how nato coffers are filled, we're getting billions of dollars in nato. we're getting so much money in nato now, more than ever before. no. it's a 2% commitment. they pay 2% of your gdp to your own military establishment, to build a fence. but here again, you've got the president just not understanding how something actually works and in this case, it ends up costing americans, american companies and american consumers, doesn't it? >> absolutely.

. >>> in the meantime, peter navarro blasting some of our allies over bad trade deals. >> our allies strategic rivals like china are ripping us off and the american worker off and the president is going through these areas whether it's mexico, canada, japan, china, and so on, europe. and basically calling them to account and getting to the bargaining table and getting a better result for the american people >> navarro's comments came moments after president trump inked a new trade agreement with south korea. the president calling that a big deal and a great day for the united states. >>> okay lots to come in the next two hours of "squawk." we're going to talk about the president's address to the u.n. today. and then later becky is going to sit down with melinda gates to talk to her about her work to help close the gap for women and tech backing diverse founders that exclusive interview coming a8: ete te. back in a moment obvious. sometimes, they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with

do you think that's legitimate >> i think the president is listening to peter navarro, appeared peter'siew has always been the same, the stock market will take a dip and that's okay, because the economy is so strong we can absorb it i find that -- as being -- i think it's one view. i don't think that's the view of the hard line, and i think the president is very much listening to the hard line. >> interesting jim mentioned amazon we are going to talk about it today. aditi roy has news in seattle. >> reporter: hi there, carl. later on today amazon plans on holden an event related to amazon devices and alexa that's what we know officially earlier in the week cnbc did report that amazon plans on coming out with eight new alexa-powered devices by the end of the year ranging from a microwave oven to an in-car gadget what could such an expansion mean for starters, it mean many more users coming into the ecosystem. it's also about alexa moving into your kitchen or your car. jeff bezos has said he wants customers to use alexa wherever they are and bringing mower customers into the tent and conn

you have hawks like peter navarro and robert lighthizer.inning out over the more conservatives, such as stephen mnuchin and larry kudlow, who want more time, more consultation on the impact of this. china is also readying some tariffs on $60 billion in retaliation. yvonne: they are running out of goods to tariff. how are they likely to respond this time around? we are talking $200 billion this time around. stephen: they are planning to impose tariffs on $60 billion of u.s. imports to china. there could be other issues, as well. they can recognize the you on -- what a nice the yuan. is a wait and see period for china. yvonne: ford is taking actions in light of this. stephen: this is not a huge move, but perhaps symbolic of what we could see down the road, the proverbial iceberg. they are saying they are focus active crossover suv they had planted next year to ship to the node stays is built in china desk to the united states is built -- to the united states is built in china. there were imports of autos to the united states, 25% tariffs will

david: even as you speak, peter navarro is coming out and saying we are going to keep going with china not back down and keep imposing tariffs. we will have nafta problems. when you talk about local origination or production, how much is because of the nature of your business and how much do you take into account the trade conflicts with the u.s. and brexit? emmanuel: we have taken the view 10 years ago that the world would do globalize. david: 10 years ago? emmanuel: 10 years ago, because we see people want local and be sure they are as safe as possible. they do not trust the old model to deliver that anymore. there is a whole trend that goes for local. if we have to pay the price for a carbon footprint, we are balancing and cutting the footprint in two. the more local you will be, the less you will be in your carbon. you see that digital giants have to operate at the very local neighborhood at level. there is a whole trend that is going to re-localize food from the start. that is the revolution we are trying to contribute to. of consumerse expectation and demand. can you do that with

punishment on trade, central to his philosophy about economics that he is getting from the likes of peter navarro and others i don't know how much interest he has in necessarily settling this without some form of punishment being extracted i think that is a risk >> so lisa, what do you do if you believe what ron believes that this is going to happen, more tariffs will be imposed, negotiations will not really bring anything different with china, how do you position your portfolio? >> we're taking a more wait and see attitude on the tariff issue. certainly it is a key risk to what may happen in the economy and markets going forward, but these things are very difficult to predict and ultimately really whether it becomes more posturing and 150ids are abideso negotiate their way to a conclusion or whether we have a couple more rounds of tariffs is de so our advice again is not to react at this point, but again to stay positioned in your u.s. equity positions as it is and then continue to monitor that situation. >> and trade and the fed overshooting are really intertwined. we've been looking back. benb

is it peter navarro? every time we have a different engagement with china, over the last 18 months, it feels like it has been -- by a different person. i would love nothing more than a poland on the other side, the kansas side,. i know who i am and what i want. part of what we need from this administration is to put the u.s. trade representative at the tip of the spear on those trade organizations. give them latitude and power to go deal with issues, that i again come get run across all of our administrations, including the current >> here is a one. personal favorite. on the wto -- i did not write this, but it intrigues me, how does a rule-based trading system reconcile with the digital economy? are the rules made by governments, or by global corporate monopolies? can the wto ever be reinvented to handle the digital economy? >> yes. >> yes, you say? elaborate. >> a first step was the transpacific partnership. the group of 12, tried to deal with the rule that would do with the new economy. could they have

who are they dealing with, is it wilbur ross, the treasury secretary, is it peter navarro, is it ambassador lights i -- ambassador lighthizer? every time we had a different engagement if you like it has been led by a different person. i love wants nothing more than an opponent on the other side who can't decide who they want to be. i know who i am and what i want. part of what we need from this thenistration is to put u.s. trade representative at the tip of the spear on those trade organizations and give them the latitude in their power to go deal with issues that have run across all of our administrations including the current one. mr. reinsch: here's a personal favorite on the wto. i didn't write this but it intrigues me. how does a rules-based trading system reconcile with the digital economy? are the rules made by governments or by global corporate oligopolies? can the wto ever be reinvented to handle the digital economy? all yes. i think the first up was the transpacific partnership where the group of 12 tried to deal with the rules that would deal with the new economy. could they have

peter navarro talked to us yesterday on the closing bell, talked about the impact on the markets right signed that south korean trade pankt listen >> sometimes it creates a little volatility on the stock markets because the president takes rightly strong trade positions, but as you see today these are the fruits of that strategy. and again, if you are a market investor, i think what you should see is a bullish move towards a structural realignment of a global economy more towards the kind of free trade, free and fair trade, that will make everybody prosper. >> joining us now from morgan stanley, and also the head of equities michael, do you agree with mr. navarro that investors think this is a bullish sign that the president's trade tactics and negotiations are working should investors be comforted? >> well, it is really just one situation out of many kind of hot trade situations throughout the world. korea, nafta, europe and the strategy working one isn't necessarily going to work this another place the issue you with regard to how the u.s. and china are relating to one another is tha