the shocking news of some closures across the country. >>> and live with the trump trade adviser peter navarrohis reaction to the "wall street journal" headline, the navarro recession part 2. that when "the claman countdown" returns. 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ ) their medicare options... before they're on medicare. come on in. you're turning 65 soon? yep. and you're retiring at 67? that's the plan! well, you've come to the right place. it's also a great time to learn about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. here's why... medicare part b doesn't pay for everything. only about 80% of your medical costs. this part is up to you... yeah, everyone's a little surprised to learn that one. a medicare supplement plan helps pay for some of what medicare doesn't. that could help cut down on those out-of-your-

trump has not, and peter navarro have not reversed course on trade. it is so obvious that -- liz: they did delay the 10% tariffs for some of the goods coming in from china. but that is an implicit admission that it's the consumer here in america that's paying the tariffs. they don't want to get voters upset. >> wonder if it's too late. here's the thing. you do have massive slowing in global economies. you had in your last segment you talked about germany. we know that one of the strongest economies in the world, we know china is slowing. these are all places that buy stuff from us. if you put that on top of slowing growth here in the u.s., lack of business investment, you have a problem. now, what is really causing this? it's the flattening of the yield curve, obviously. why does that matter? when long-term bond yields go down, when prices go up, that's a signal that we are hitting an economic slowdown. why is that? because people buy bonds as a hedge against, when inflation goes down you buy bonds. because inflation goes down when there's a recession

here is peter navarro firing back.hy why hasn't the "wall street journal" been edearly toizing about china stealing our technology and forcing transfer of technology from our companies and the currency manipulation? so the "wall street journal" -- it's walled the "wall street journal" for a reason it represents wall street. the "wall street journal" never saw an american job it didn't want to offshore. liz: tough word for your company. >> we are for the rule of law. we edito edof d we editorializey times. if he's looking for better treatment of american companies. but tariffs put an enormous cost on the economy. this is by many measures an outstanding economy. but what we are not seeing is a lot of corporate business investment and that's the fear of tried fights that's making executives reluctant. liz: business investment versus consumer spending. it's almost like when we hear the recession talk in the media, everybody gets so much information all day long, they lose their common sense. three things trigger a recessio

it's all good >> i'll piece to white house trade adviser peter navarro next. first in the south, 2020 democrats head to south carolina and make their pitches to african-american voters. >> i've got to work that much harder to make sure the voters heard our message. >> can anyone knock former vice president joe biden out of the lead? presidential candidate mayor pete buttigieg joins me exclusively in moments. ♪ >>> hello. i'm jake tapper in washington where the state of our union is keeping an eye on our retirement accounts. president trump is wrapping up a working vacation but he doesn't seem to have used that time to unwind. instead last night and this morning he appears to have been scrolling through twitter, sharing messages about the crowd size at his new hampshire event. retweeting praise from fans, praising conservative media and heaping scorn on the rest of the news media. this week the president's ire extended to the 90-year-old grandmother of one muslim congresswoman after he pushed a foreign ail wlly to ban two democratic congresswomen from ang offic

senator johnson blamed white house trade adviser peter navarro for the whole thing. he said, i don't think peter navarro understands the instability of what he promotes and what his trade war is injecting into the economy. senator johnson said. and so for republican senators who are brave enough to float warnings about the trade war, it is peter navarro's trade war suddenly. a person most americans have never heard of. it is donald trump's trade war, but by this time next year, for political survival, who knows how much republicans running for reelection to house represent representatives in the senate might have to break with the president on what is most definitely not peter navarro's trade war. senator toomey, and senator johnson are speaking to the white house about this, and quote however delicately they are urging trump to show more flexibility on china and it does not seem to be working. >> pat toomey, who i know you respect, a republican from pennsylvania says quote there's no question the trade uncertainty is contributing to the slow down in our economy. is

the problem, though, is that peter navarro is there and i tell you, if he fired peter navarro tomorrow would go up 1,000 points probably. cheryl: the president did say he was going to be commenting at some point today. we haven't seen him yet. but you're right, cocohe could change the story in the next 12 minutes. >> it will reverse that. cheryl: i agree with you. we will stand by. all right. charlie gasparino, who has always got the big money guys talk to you. thank you. obviously we will continue on this china story. this tariff retaliation that came from the chinese, ripped apparel stocks today. i was just talking about a good friend who runs a fashion company. companies like under armour, of course, right -- >> my friends would never run a fashion company. cheryl: that's where i get my clothes from. under armour, pvh, calvin klein, a huge part of what americans wear. ralph lauren, capri holdings. >> americans wear versace? cheryl: not anymore. the national retail federation responded to president trump's tweet, demanding that u.s. companies look for alternatives to china. that was

i also saw your interview with peter navarro. i mean, some of the stuff he says, again, i agree with the intellectual property that china is stealing and all the other stuff, but some of the stuff he says just doesn't make sense. why not tell the truth? where is this check from china that they are writing to the treasury? can i get a picture of that? and to say that people are looking for higher rates versus lower rates in europe, that's just capital markets. that's not true. no one can buy u.s. treasuries, sell euros and say i'm locking in a spread. there is currency risk involved. liz: i'm glad you asked. we are actually, with certain business leaders who have already told us they have written hundreds of thousands of dollars worth of checks to the government for the tariffs, these are u.s.-based companies -- >> but they're not china. i thought the chinese were writing it. liz: we are actually going -- i was an idiot. i asked one of them. he said it's not a canceled check. it's auto debit. i said get me some type of evidence be

joining me to discuss this and more, white house trade adviser peter navarro. i know you have a summer cold, so we appreciate you taking the time and getting up early on a sunday. let me start with the economy. obviously, the basic state of the economy. in addition to the inverted yield curve which has happened before every recession in the last half century, it's now since flattened, but it did exist there for a little bit on wednesday. nine major countries are either in recession or on the brink of one. perhaps even a bigger concern than the inverted yield curve. other than pushing the fed to lower interest rates, what is the administration doing to stave off any potential recession from coming here? >> so let's clear up this inverted yield curve thing. i didn't write the book on it, but i have written several books about the yield curve as a leading economic indicator. technically, we did not have a yield curve inversion. an inverted yield curve requires a big spread between the short and long end. >> we had a smaller one. >> correct, all we had was a flat y

here to help answer all the questions and more, peter navarro. assistant to the president for trade and manufacturing policy. and a key player in determining america's approach to foreign trade. he joins us from washington. peter, thank you for being with us. >> good to see you, sir. jerry: let me start with something president said friday morning. he raised the possibility that maybe next round of talks in september, might not come to pass. do you think that will happen? we'll be talking september? what do you think the chinese attitude will be if that in fact takes place? >> if i may, i think where we really need to start is talking about what we are fighting for here in this dispute. because your viewers, if they are trying to figure out whether we will get a deal, a settlement, negotiation, you really have to understand what this is all about and it's really about seven forms of economic progression is been documented by the u.s. trade representatives. and let's go through the list. you got cyber intrusions into the business that works to stea

. >> peter navarro is definitely unique view. his views alone how tariffs are beneficial and there is no trade war. president listened. he realized he was wrong about the fact that tariffs are actually taxes on consumers. he acknowledged that it will affect the holiday season. if, this is not a great big gift for anybody. this is sewing seeds of consumer confusion. this will create uncertainty. it will, there is great concern in our industry and other industries where this is heading. it is not getting better every day. obviously the stock market is responding to reality rather than the press releases. reality there is a lot of tariffs. some are going into effect. 1/3 of those on consumer technology industry almost immediately, rest of them 2/3 to into effect in december. those are still tariffs, they're taxes, they're harmful, they are not good policy, navarro's point is that we know that, supposedly we know it businesses like the ones you deal with can plan for it. the question is whether we really believe that, really feel as

stuart: that's exactly what peter navarro was saying.question whether or not at the end of the day china will be prepared, no matter what the pressure, to change essentially the economy and its law. ashley: no. i say in a word, no. stuart: i have to break in. i have breaking news. susan li, our own susan li who you are used to seeing sitting next to me, is in hong kong at the airport. your report, please, susan li. susan: yeah. yeah, i just touched down here after a 16-hour flight, taking a look at the scene here at the hong kong airport a day after the public scuffles and altercations on live television across most cable channels yesterday. today, a different story. we are looking at maybe a few dozen or so protesters here camped out at hong kong airport. they still of course have their messages strewn across the floor and from what i have seen so far is that they are talking to the international passengers that land, telling them why they are fighting for what they call their freedom, their democracy and also their future here in hong

lou: give them hell, peter navarro. >> thank you. lou: up next.eadly shootings in el paso and dayton, some making it all about themselves. >> if i was president, i would use by deput department of just. >> i challenge everyone in democratic primary race to join me on common sense things like gun licensing. >> i am the most bipartisan guy i met, the guys i drink beer and watch football with, they are all republican. lou: by god. well. we'll take it up, and bruce ohr documents are expected this week, we heard that before, but damaging information about the deep state awaits, we have that and much more after these quick messages. stay with us. lou: there have been a number of takes on what motivates a mass murderer. those on the left talking about access to guns and what they call white supremacy. the right focusing on vie ebt lent video games, hollywood and mental illness. neither side has all the truth. look at the mass shooters from the last 20 years, most of them are young, predominantly white, but all races are represent. also their socioeconomi

southern company jerry: i am back with peter navarro. u this directly to the financial markets producing this week that they are nervous about potential economic impact of the prolonged tariff fight with china. should they be worried or are they overreacting? what is your message to them? >> they are overreacting. basically what we have, let's start with the fact that the stock market is a leading indicator of the economy. the trump economy is absolutely rock solid. we've had strong real gdp growth, we have historic low unemployment among blacks, hispanics, women, disabled and veterans. we have rising productivity. rising wage gains which are disproportionately going to blue-collar workers. i think what investors need to worry most about right now, is the federal reserve. the federal reserve raised rates too far, too fast and that had the effect of suppressing our investment directly and indirectly suppressing our exports. their currency effect and you saw that in q2. we came in at 2.1 percent real gdp. that is good, the president likes g

and i think, listen, i personally like peter navarro. i speak with him on the phone but, the markets, the major investors think that he is ill-equipped to be giving major trade policy, okay? they look at him, when he was on with chris wallace this weekend and he started to argue the president's point, which is the point that you said was absurd on saturday, that you know, the chinese will pay for tariffs. when you get, when you start arguing that to a rational investors, who know that tariffs are passed on to consumers either directly or indirectly, that is the guy running the show, who has the president's ear, that's, equivalent to hitting the sell button. the algorithms kick in equivalent to selling. what you said trending on twitter on saturday, drinking my coffee, saw neil cavuto -- neil: we tried to have you on. kept going to voice mail. >> my phone is off the hook on saturday morning. what you did, what wallace did, was record, i believes it watt journal, the triple whammy of president who thinks the chinese actually pay for tariff

when a you said is what we're going to believe big interview withe peter navarrociary member louie gohmert good to see you are you surprised beijing comes back with a punch in the face 75 -- taxed o 10%. >> we make a move they don't want to loss face they make a move not that big a move like peter was saying they are hemorrhaging, and supply-side, and so they have got enough problems in hong kong to last thing they need is for the biggest economy in the world, us, to you know be in a tariff war with them so i think -- i am grateful we have a president that understands how badly we were losing the import export war with china it is time to make it mutually beneficial i think this is totally -- >> import export worry all other things seven sins as peter navarro calls it. >> you betcha you bet those are huge problems, they have been stealing them for years, so thankfully we have a president standing up to them and it is about time. >> let me. >> by the way, if the fed yeah if the -- if you know peter was saying, if he said we will have america's back they have that h

so i think what peter navarro is doing is a disservice. whether or not you look at the fact the last 30 months of the obama administration versus the first 30 months of the trump administration, there was a million-job difference in the amount of jobs that were created. or on the other hand you look at the indicators that are showing that our economy is simply slowing down. the huge selloff we had last week. this trump economy is not working. last but not least, barack obama turned over a deficit that was about $600 billion to donald trump. it's now $1.1 trillin because his tax scam simply has not worked. when you look at everything going on right now, the american economy is going to kind of slow not to a stop, but slow down. and that's not good for trump re-election in the least bit. >> by the way, when we talk about the farmers, they are getting a cushion of federal l assistance to the tune of something like $25 billion which of course is great for farmers and their families and we understand why it's needed, but republicans used to cal

peter navarro denied that saying it was a goodwill gesture as talks continue. american farmers are also feeling the effects of the trade war. navarro defended the president's commitment to farmers saying the money from tariffs is going to farmers but some farmers don't see it that way. >> i go into the bank and i tell the lender that i can't make my payment because we lost the market. the banker is not going to tell me you don't have to make your payment because you're a patriot. >> i sometimes stay up at night worrying about what the future does hold. you know, what do you tell your children that want to farm? >> the president remained optimistic taughting the economy while once again falsely claiming china is paying the tariffs, adding, great future for the u.s.a. >>> with the massacres in el paso and dayton still fresh on the mind, three more mass shootings were foiled by police. three men in different states, ohio, florida, and connecticut, arrested after they expressed interest in shootings or threatened to carry them out. in all three days authorities were

peter navarro. it didn't take long for the 2020 dimm hopefuls to politicize the deadly shootings in dayton and he'll pass oh and make it about themselves. >> if i was president i would use my department of justice to investigate white supremacy. >> i challenge everybody in the race to join me on common things like gun licensing. >> the guys i drink beer with and you watch television with are all republicans. >> this is a defining moment of truth. lou: the bruce ahr documents expected -- bruce ohr documents expected this week. i know, we have heard that before. stay with us. (vo) the hamsters, run hopelessly in their cage. content on their endless quest, to nowhere. but perhaps this year, a more exhilarating endeavor awaits. defy the laws of human nature,at the summer of audi sales event. get exceptional offers now. i've always been amazed and still going for my best, even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment than

outfront now peter navarro assistant to the the president and director of the office ands trade and manufacturingy. good to have you with me peter peter as always. the president tariffs the president is talking about yesterday. haven't gone in effect yet now he is threatening more. i can increase it substantially to a higher number. do you think china believes him? >> of course they believe him. everything he said going to do he has done. on this issue of the tariffs themselves, what we've had so far is 25% tariffs on $250 billion. and the remarkable thing in a way is that chinese have managed to basically devalue their currency by a full 10% burden o. we have seen negligible to zero inflation on the tariffs. if you think about putting 10% tariffs on the additional $300 billion of chinese goods. >> which by the way are consumer products a lot of these. >> correct. >> these are things that people buy. >> let's do a little math, consumer math when we started the tariffs back in march of 2018 since then the chinese currency has fallen by 10%. so even if we were able to pass the -- the chinese could

lou: give them hell, peter navarro. >> thank you. lou: up next.eadly shootings in el paso and dayton, some making it all about themselves. >> if i was president, i would use by deput department of just. >> i challenge everyone in democratic primary race to join me on common sense things like gun licensing. >> i am the most bipartisan guy i met, the guys i drink beer and watch football with, they are all republican. lou: by god. well. we'll take it up, and bruce ohr documents are expected this week, we heard that before, but damaging information about the deep state awaits, we have that and much more after these quick messages. stay with us. beep goes off ] now that you have new dr. scholl's massaging gel advanced insoles with softer, bouncier gel waves, you'll move over 10% more than before. dr. scholl's. born to move. 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. with sofi, get your credit cards right- by consolidating your credi

peter navarro, the hard liner on klein? is it larry kudlow, the former cnbc commentator? is shaping the policy? >> all of the above. unfortunately, 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,

peter navarro didn't want to talk about the trade war. he wanted to talk about how this is all the fed. that's not what business leaders say and you can see in the "wall street journal" they're calling this the navarro recession. is the white house trying to by focusing on the fed to get a cut that they think will be material or are they trying to shift the blame for the slowdown? >> they're certainly trying to shift the blame. and i'm not sure that this is going to be a winning political strategy for the white house. at the end of the day when you get to actual kitchen table issues, your average voter -- because again, this timing is particularly per lis for the president. the democratic race is kicking up. there's a bunch of discontent among the republicans. and for any number of americans who aren't like us, aren't obsessed with politics or economics all day and they've said, look, has trump really been that bad. sure, he tweets bad things but things haven't gotten worse for me day in and day out. if people are throwing around the worl

>> fire fed czar, peter navarro.e did that. >> why would world markets soar if he did that? >> because the trade war is the biggest source of uncertainty. nobody knows what's next, what he's going to tweet in the middle of the night. right now it's pulled back. but it could be brutal. everyone is holding back. they're not investing. the u.s. uncertainty over the trade policy is hitting the whole world and us also. >> the cardinal sin is to blindside the markets and consistently the markets have been blind sided by people like peter navarro. >> recent studies, though, show half of americans don't own any stocks. so, ken, who is most at risk beyond investors here? >> the stock market has not gone down that much. it's really the risk of jobs. the economy is very strong at the moment. it won't fall down immediately. if we go into recession the next few months by the time we hit fall of 2020 and the economy hits rock bottom, president trump will feel it in his re-election bid. the economy is the most important thing and i

it's something that white house trade adviser peter navarro was u pressed on earlier today. >> listen minnesota farmer's union who told cnn that even the president's supporters are being hurt and struggle iing in the te war even with the money the administration is gifing them to help them through this tough passage. take a listen. >> words and twitters and tweets, that doesn't pay the farmers' bills. that doesn't solve the problem we're dealing with. like i said earlier, this one is self-inflict ed by our presiden. we definitely agree we're going to have in it, but it doesn't appear a plan b. >> these are people on the front lines and they're saying the trade war is directly hurt iing them and china is not bearing all the burden of this. they are. >> so there's a couple of things to say here. first of all, this president has the backs of farmers. all the money we're taking and tariffs, a lot of that is going right to the farmers. make no mistake abt. china is targeting those farmers to buckle our knees. >> joining me now to talk about all this, cnn political analyst, rachel and natha

those questions and more for trump's trade adviser peter navarro. >>> and -- >> we're looking at the whole gun situation. >> is the president backing off his call for meaningful background checks and changing his tune to appease his supporters? >> i think gun control will be a bad thing for him to run on. >>> 2020 candidate kirsten gillibrand is pitching her own plan to voters. she joins us live. >>> plus, she's not running for president but she is campaigning for change. >> you may not not be able to cast your ballot because they atging the game.nct orhange >> stacey abrams on her fight for a fair vote. >> announcer: from abc news, it's "this week." here now, co-anchor martha raddatz. >>> good morning, and welcome to "this week." president trump campaigned on america first and says he's kept that promise, but at what price? and does that promise extend to all americans? the president's squarely put american citizens first this week when he announced a new rule barring legal immigrants from receiving tax-funded benefits. a top immigration official going so far as to suggest the poem

and i was curious about what peter navarro did say, he seems to have forgotten what peter navarro actuallyinvertedyield usually means recession -- he also said a flat curve, give him the benefit of the doubt in the black is a weak indicator of a recession. still it's only slightly weaker in the recession. it also had two false signals. and beyond that, in that same book. he actually mocked business leaders for failing to recognize this signal leading up to the 2001 decision. they failed to notice the ominous progression of the yield curve. i think we have that quote as well. given the old curve's excellent track record it seems truly remarkable that so many corporate executives chose to ignore it's strong recession airy warning signals. it's striking that on the one hand he was mocking people for getting freaked out or for not getting freaked out about the flattening, and ultimately the inversion of the yield curve. and today he is -- he is trying to tie himself into knots to say why we shouldn't be worried. his argument is something along the lines of, this time is different because the y

although i had peter navarro on. he made great points.conomically all the tariffs we had in place, some of them for a year now, had a diminimus impact on economy. markets at all-time high, wages are soaring, so forth. how do you deal with that as an investor? >> as an investor right now, if you look at the first round of tariffs that we had, the markets really initially sold off but they have continued higher, setting record highs. so i'm not saying that a 10% tariff won't have any impact on the economy because it will. according to city group, for example. it will have a minimal impact on gdp of .1 to .2 of 1%. i think the initial impact by the market is overblown. charles: rob? >> i don't know. somewhat agree with heather, charles, but if you look at the market it is quite rational. charles: the market is rational? >> i think so. i think so. we're down, what, after all-time highs, 1 1/2, 2%, everyone saying that the sky's falling. >> that is my point. it is not. >> having a little bit of a pullback is healthy. charles: i agree over long

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

this way, peter navarro has asked to come on the show to explain it but you are paying. >> well, it'sliz: shows what i know. >> it's automatically deducted. it's auto debit on our company checkbook, our company banking policy with u.s. customs automatically deducts. liz: good luck to you. >> i have documentation that i can send to you on that. liz: i would like to see that. that way i can hold it up to peter navarro, who would like to come on the show, and we can talk about it. arnold, good luck to you. >> thank you very much. liz: please keep us posted. we will have you back. arnold kamler runs kent international bicycle company that's been around in this country for 100 years. they have had to lay off people and raise their prices. we are watching the story. >>> 39 minutes before the closing bell rings, we do have the dow down 402 points. >>> up next, this worrisome phenomenon happening across the globe in france, in germany, switzerland, spain and more, to the tune of $15 trillion. negative bond yield, meaning investors are so fearful, they are paying governments to simply hold the

peter navarro, thank you for joining us. >> nice to be with you. nice the meet you. >> brennan: we'll be back with a 2020 presidential candidate whose supporters call themselves the yang-yangs with entrepreneur andrew yang. strength of aleve. that dares to last into the morning. so you feel refreshed. but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. go to the pharmacy counter for powerful... congestion and pressure? claritin-d. while the leading allergy spray is indicated for 6 symptoms... claritin-d is indicated for 8...re it. get mo >> brennan: we're back with one of the 23 candidates running for the democratic no

coming up in just minutes i will speak to president trump's chief economic advisor peter navarro. first, let's bring in kaitlyn call lnz, our cnn correspondent, catherine "the washington post" opinion columnist and cnn political commentator. okay, john, where are we starting? >> we want to start with israel first. >> the president wants these two sitting u.s. lawmakers to be blocked from going to israel because he has claimed they have made anti-semitic remarks. some people believe they've made anti-israel policy remarks. anyway, israel complied and blocked them. and this morning on humanitarian grounds because rashida talib's grandmother is 94 years old, she'll be able to go. >> the time line is pretty clear of what happened because just last month the israeli ambassador to the united states ron dermer said, yes, they were going to allow them in. we were being told by israeli officials they didn't want to get involved in the president's political fights here especially as he's tried to target these four congresswomen because he essentially wants them to be his foil in 2020. but a

they're complaining because the president's economic adviser peter navarro argued this week this is not going to affect the american consumer and the president has been arguing that all along. >> intellectual honesty would be to say this will affect -- >> correct. >> if you want to get away from unfair, low labor practices, sneakers and soybeans, everything is going to cost more. suggesting it never hurts consumers which is what the president has done is intellectually dishonest. >> if i'm a business leader or world leader and i look at the president continuously misrepresenting how trade and tariffs work, i've got to wonder. this guy doesn't understand basic economics? >> thank you. john harwood cnbc editor at large and eli stokols "l.a. times" white house reporter. the epoch times. you ever heard of it? i have. you've probably seen its videos on facebook, a hauj supporter of president trump. you might think it is another conservative news outlet but it's not by a long shot. we'll explain in an msnbc exclusive next. i've always been amazed by what's next. and still going for my best, e

and peter navarro to talk china trade.e kick it off with top stories, 2020 democrats facing off last night and sounding off in detroit in economy, health care, hillary vaughn was there for night 2 of the democratic debate, good morning, hillary. >> biden defended attacks hoping to get hit of front runner and accused of borrowing republican talking points when he criticized harris' medicare for all plan for being too pricey. >> the senator had several plans so far and any time someone tells you, you should wonder it takes 10 years. >> your plan does not cover everyone in america. by your staff and your own definition, 10 million people, as many as 10 million people will not have access to health care and in 2019 in america, for a democrat to be running for president with a plan that does not cover everyone, i think it's without excuse. >> this idea is a bunch of malarky that we are talking about here. the fact of the matter is that they'll be a deductible in the paycheck. i don't know what math you do in new york and i don'

and by the way, peter navarro may cost donald trump the election.pposite of that as far as our understanding, meeting with him. >> absolutely. which is a problem. connell: the thing about powell that's interesting to me, charlie brings it up and he's right, in december, even now, if you look the ahis speech today, i don't know that the federal reserve has pretty much said they don't know what to do with this situation because in his speech he went back through these eras of financial history, then said, i wrote it down, fitting the trade policies uncertainty into this framework, meaning what they dealt with in the past, is a new challenge. he basically said there's no playbook for this. >> it's unprecedented. i think that's what the markets are responding to. the market doesn't know what's going to happen either. the tweets keep coming out every day, there's a new, it's back and forth, back and forth. the thing the markets hate the most is uncertainty. that's all it's been saddled with. if the president wants to calm the stock market down, even more

minimize reports out of white house say president trump overruled all economic advisories other than peter navarro since, so perhaps we should call this the trump-navarro trade policy slowdown which could be leading to navarro recession your reaction. >> the "the wall street journal" has opposed president trump's policy going back to 2016 when main street journal starts criticizing president trump and myself that is when we worry we have created over half a million manufacturing jobs compared to loss of 200,000 manufactures jobs in joe biden-barack obama obama years we created over six million jobs president trump got seven mill people off food stamps rising wages particularly for blue-collar workers historic unemployment rates for blacks hispanics women and this economy is solid as a rock. president trump doesn't want very good economy he wants a great economy. two things that have to happen right now don't have anything to do with china they have to do with the federal reserve lowering interest rates, and the congress passing u.s.-mexico-canada agreement, the fed lowering interest rates is impor

we welcome peter navarro thank you for being with us today. >> good afternoon, sara. how are you?okay. we're start of digesting the week that we just went through it was crazy it was volatile. and it was marked by an escalation of tensions both from the u.s. and china in the trade war. how much farther are we >> the dow ended up for the week about 800 bounceoff off the wednesday low. more rate cuts by the fed is what is important as well as passage of the u.s. mca in the fall so i'm bullish on the economy. i'm bullish on this stock market on the china issue, i think any time that i talk about it or you talk about it on the air, i think it's useful to start the problem that we're trying to address with china it's basically seven acts of economic aggression that built in structurally to the chinese economy. and they're worth going over it's the cyber intrusions into the business networks to steal trade secrets. it's forced technology transfer exchange for access to the chinese market it's intellectual property to the tune of several hundred billion dollars a year dumping of products

. >> reporter: trade adviser peter navarro rejected any talk of a pending recession. >> i'm seeing looking at all the macrotea leaves is a strong trump economy and bullish stock market through 2020 and beyond. >> reporter: independent economists have been less optimistic after the market flashed a signal interpreted as a sign recession is on the horizon. democrats pin the blame on the trade war with china. presidential candidate pete buttigieg. >> if you think china is going to change the fundamentals of their economic model by poking them in the eye with tariffs. >> andrew yang insists the president's approach is not working. >> we theed to curb the abuses. 12k3w4rr president trump continued to defend his trade war with china insisting that the u.s. is poised for growth after the trade deals are done. but after months of negotiations between the u.s. and china, there's no trade deal in sight. >> paula, thank you. >>> hong kong's prodemocracy movement took to the streets again today. 1.7 million, a quarter of the territory's population, t part. >> reporter: defying a police ban in bad weat

i care -- i want to hear what peter navarro has to say since peter is really doing this look at the vixt to go to uber and lyft to get something bad. >> there's still pockets. >> that's fine remember, they are selling great stuff at $8 that cost them $10 look at this market. i want to be so negative, carl, but i would be so wrong. >> it also come in sides with caterpillar three-month rolling sales for july. >> they are horrible. >> not as bad as you would have thought. >> my travel -- here is the update this is bizarro world. we like them ugly. we put venus demilo, all we're saying people are so negative they want arenas on venus, wings. >> you're not calling all clear, just a phone call. >> no. absolutely it's a phone call. what matters is what is exempt they have said over and over again that apple would not be exempt apple is often the key to this market i think that they blinked for apple. i don't know if they blinked for china. this is very fortuitous for china because they have got the problems in hong kong we haven't talked enough about. did somebody blink how about if everybody

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 the chinese devalue their currency, which they did over the weekend, henc

joining us now is white house trade advisor peter navarro. thank you for coming on the program this morning. obviously the white house wants to put out a message responding to the tariffs, what is that? >> the president has done a remarkable job putting this country behind him on the china issue the last few years by educating the people about china's acts of aggression, the force technology transfer, killing americans with china made fentanyl. china continues actions like today simply reinforces the tough stand that this president takes. from a market point of view, it's nothing that they are well signaling, really important today and tomorrow, if jay powell and the federal reserve assures america that he has their back, it will finish up three or 400 points. the european central bank follows through on the promise to lower interest rates and engage in easing and that's great for america because a stronger europe will mean more exports sold to europe and more growth for america, there are some things that are going to be really important. >>

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. >> trade director peter navarro maintained that an investigation could be staffed off with a move from the federal reserve. >> the federal reserve going to the holidays will be lowering rates significantly. what that will do is that will help our investment directly. it will help our exports indirectly. >> reminder the fed is independent. white house has pushed to calm recession fears came days after the bond market flashed a warning that has an easterly accurate trade record for predicting recessions. since trump took office the stock market has reached record highs, unemployment has stayed at record lows. the numbers could set off a downturn including the trade war with china, the shrinking effect of the 2017 tax cuts or the risk of deflation. >>> after the massacres in el paso and dayton, three more mass shootings were foiled by police. three men in three different states, ohio, florida, and connecticut, arrested after they expressed interest in shootings or threatened to carry them out. in all three cases authorities were alerted by members of the public. the latest coming in ohio.