i hate tariffs and trade wars as steve forbes does, but in this case you could hear the frustration inimony of my friend steve mnuchin. they really did feel like they had a deal with the chinese, with the government in beijing, and then something happened a couple weeks ago where the chinese just started backtracking from that, and that is why, you know, donald trump is frustrated and has imposed these latest round of tariffs. there's no question, liz, it will pinch consumers, and the -- american consumers, and the question is whether americans are up for that. i happen to think this is the epic battle of our time between china and their abusive trade practices in the united states. i don't think we can continue to go on with impunity with respect to the chinese abuses. >> steve, it's scott martin. you know, that's a tough call that i have here in looking at this. it's like to your point, why would the administration risk political capital here and being out of touch when it comes to say the impact on the consumers? the impact grows with every day we don't get a deal done as far as the

connell: here steve forbes, forbes media chairman.dumb statement says the current president about the former vice president. joe biden did essentially say that, that china is not competition for us? >> well maybe he is thinking of 1972 when he went into the u.s. senate. somebody has to bring him up to date. can't be rip van winkle in this kind of environment today. connell: i heard about it. i saw it came out in iowa who was he trying to appeal to. maybe he just blurted it out? >> blurted it out. you expect something like that from somebody who is rookie. doesn't really everything you say will be held against you, and examined. he is the front-runner. you know you will have examination especially 25 opponents looking for a way to knock you down. connell: how would you articulate the relationship between the united states and china now? what is china to the u.s.? >> intense competition. connell: yes. >> strategic competitor as well. connell: that is what the pentagon says, strategic competitor. >> south china sea, that is ongoing battl

democrats are trying to do impeachment in drag in the house judiciary committee and i think steve forbesans should take is to go on offense, expose the origins of this investigation and to highlight their roots in the obama white house. >> congressman, steve forbes here. do you think you and your colleagues are going to do that when mueller comes to testify? >> precisely. i'm going to ask robert mueller why, when he fired peter strzok, he never inquired as to the specific text messages about an insurance policy, about saying to his lover, lisa page, no, we'll stop him. what did those things mean? i'm sure curious. i think the american people are curious. robert mueller never even asked. he never even wondered what evidence might have been poluted by peter strzok or lisa page. remember, pea tore strzo peter e person who initially opened up on george po papadopoulos. dagen: i want to note this, in the wall street journal editorial, about what went on in the senate hearing yesterday. bill barr made nearly all of the redactions in the mueller report available to senior members of congress to

. >> this is steve forbes here.ng that was once high in the news and now seems to have almost been forgotten but there's a lot to be done there, right? >> great question, steve. the gulf of mexico in our view is misunderstood, under-invested and under-appreciated by the investment community. the gulf of mexico is producing all-time record high levels of oil production today. it provides 20% of the domestic production for the entire country. and we think there's fabulous opportunities in the gulf. maria: i want to change gears and ask about the deal of the day, anadarko changing course, deciding to go with occidental instead of chevron. chevron has until friday to put another offer on the table. your reaction to what's taking place, where there's consolidation in the industry and where you think it may continue. >> great he question. we're partners with chevron and aanadarko in the gulf of mexico. they're the fifth largest producer in the gulf. it's very exciting to he see this play out. we think the anadarko gulf of

let's bring in "forbes" media chair, steve forbe it is., right? >> it really doesn't mean much now, these polls, because people get mad and have certain issues. but the democrats, thing big thing trump has going for him that democrats have to have a live candidate against him. when you have a candidate against an incumbent, suddenly, you have to make a choice. if trump can keep this issue about the economy and that the democrat proposals will wreck the economy, then he can pull this out again just as he did three years ago. elizabeth: because the issue is can trump's blue collar workers offset the suburban voters' uncertainty, right? >> yes. even suburban voters may not like donald trump, but the other side may jeopardize their improving lifestyle, and they may say, maybe, i'll hold the nose and do it. elizabeth: exactly. nobody really trusts the polls. you couldn't trust them in 2016. >> one, they have a harder and harder time getting people to respond and, two, a lot of people aren't going to tell a third party what their the feel things

this is bulls & bears i'm gary kaltbaum in for dave david asman , joining me is steve forbes, liz claman, gary b. smith and let's go straight to the white house with hillary vaughn, what will the president be announcing tomorrow? reporter: well this immigration makeover is meant to bring everyone in the republican party on board and this is focusing on a merit-based immigration system that would judge people based on points. they would look at applicant's age, their english proficiency, employment, educational background that's just a baseline figure here. applicants can be boosted based on how much money the job will pay and also applicants go under a health screening, a criminal background check and the white house wants to raise the number of immigrants college educated from what is 40% now to 71% over 10 years the white house says this plan will raise gdp by 600 billion, but that's not the only play on the table here. senator lindsey graham on capitol hill today rolling out his own plan that he says will fix the humanitarian crisis at the southern border, people will not be able to c

among our guests, steve forbes, forbes media chairman. we have the former aetna ceo, and rebecca heinrichs, a national security analyst at the hudson institute. susan: it will be a busy hour. we have fox business team coverage from washington to wall street. gerri willis on floor of the new york stock exchange. blake burman at the white house. hillary vaughn has the latest on trade talks in d.c. let's start this friday, hillary vaughn in d.c. hillary. reporter: susan, the white house announcing they are taking pressure off of canada and mexico while trade talks cool off with china. the president making a major milestone getting the usmca signed by congress, announcing he is removing steel and aluminum tariffs against canada and mexico. moments ago canadian prime minister justin trudeau celebrating the move, saying this was the final barrier that was preventing the new nafta getting across the finish line. >> these tariffs didn't make sense around national security. they were hurting canadian consumers, can made -- canadian workers an amer

david: steve forbes here, why did you think mueller capitulated, this is different from tone of report he told attorney general barr, why did he cave? does he have the backbone of an eclaire or what? he's to go to cocktail parties with these people. >> i think what you saw today was evident in report itself. it seems to me that the one thing that he was arguably needed for, i say ash he was needed to reself question whether there was enough evidence to bring in an one vehiclobstructshown case, he wan decides no to the decide, that to me this is more of the same, if he thinks that president should be impeached, at this point i almost wish he would just come out and say it, but we keep playing the games. >> we did see markets go lower today of the mueller report. i am concerned about investors going forward, that have to toy with idea that impeachment could be on the horizon. but andy, for you, you heard mueller's commentary, he started almost with russia, i am paraphrasing almost an adul asst on american democracy, and ending with russia. and president has ignored or disputed russia's i

. >> for more insight, let's bring forbes media chairman and editor-in-chief steve forbes, thanks forod to be with you, thank you. >> you spoke against tariffs, you have been calling them a tax but the president doubled down, perhaps doubled up on tariffs, what are your thoughts as he faces off despite critics? >> well, foister of all, tariff is a tax, another word for sales tax, if you hear 25% tariff on auto, that's 25% sales tax. now it's true the chinese are going to be hurt by this more than we are, we will be hurt by it as well if we have this escalation, i do think those though in the next few weeks we will reach an agreement, we have an election coming up, we would like to get that away from the economy, possible auto tariffs, get that out of the way but also china has a problem too, the legitimacy that communist regime is on the premise of ever-rising prosperity, the chinese economy is taking a hit. it is slowing down, tariff war is going to slow it down even more, so they have an urge to get this thing done, i think it will get done. but if it doesn't get done, we will all t

that's why they don't want to go to steve forbes flat tax because they don't have the ability to buy congress and biases and get reelect. the democrats are in a real band here because presidents that have a good economy tend to get reelected. any politician does. they're going to have to come up with something. wealth and equality. coming up with benefiting the 1% that they can't fight on the economy right now. david: to kamala's point, if she's going to get rid of the tax cuts that we had, that means there's going to be a huge tax increase. and when you have a tax increase, it has effects. i mean you tax something more and you get less of it. we get less jobs, less of an increase. >> is it increase or going to the status quo. david: that's what's causing companies to move to ireland. >> here's the issue that i have with christina and jonathan. i don't understand what part of the corporate tax code you would like to get rid of. if you've made a loss in the past do you not think you should carry it forward. if somebody makes an investment instead of having it depreciated, why can't yo

democrat socialist member and forbes media chairman steve forbes. 2020 democrats keep pushing to raiseise taxes? why not fix problem of government waste, it is equal to the size of poland? >> shows when government is in charge, call it socialist or anything else there is no consequences for the kind of waste. private sector, capitalism, free markets, you have that kind of waste you go out of business. this has been going on for decades. britain after world war i, as navy got smaller, the agency running the navy got bigger. there are no consequences to the kind of waste. if you reduce budget, you get less next year. no real incentives to guard the taxpayers money. liz: nomiki, republican john kennedy, a number of democrats want a bipartisan push of both chambers to stop government sending payments to dead people, billion dollars, and payments what do you think? >> of course there are inefficiencies. bernie sanders himself talked about how the government is structured in a way that is not efficient. part of that is because we have this dual privatized and frankly socialized government in

this is bulls & bears i'm gary kaltbaum in for dave david asman , joining me is steve forbes, liz claman

steve forbes's response to me after i hung up was -- well, that's true, but in those days they had aot of deductions. heard,ow i have listening to this program, that amazon, the richest corporation in america, would not have paid any taxes before trump's big corporate tax-cut. don't tell me that these corporations don't have deductions today. thank you very much for taking my call. you forsolutely, thank the call. 7:30 here in the east, another half hour of your files and comments. we welcome listeners and viewers on c-span radio, coast-to-coast on sirius xm, or this free c-span radio app. we also carried on potus channel 124 every sunday. there is so much going on in britain, where we are aired on the parliament channel, including the resignation of theresa may. the president will be in france early in june to commemorate the anniversary of the d-day invasion. weekly,"span's "the harry miller is in his 90's, he was 15 when he signed up to join the army and was part of the battle of the bulge. one of the bloodiest battles in world history. hope you tune into "the weekly," available o

i was talking to steve forbes about this and he said before the election, the chinese wanted trump because knew he was hard-nosed but they also knew he knew the chinese. not only is lighthizer really well-equipped to be dealing with the chinese and yes, he plays hardball. nobody plays hardball like lighthizer. but it's the same with the president. at the same time, to your point, look, china is our largest trading partner. 21% of all of our imports come from china. but again, picking up on sean's point, if the chinese don't sell us stuff, we can get many of the same things from korea, from taiwan, from other places in that region that are now supplied by china, and just in time, you know, we have all this new high tech mechanisms for switching over from one chain to another chain. yes, it's cumbersome, yes, it costs money but we can do it a lot better now with our high tech inventories, et cetera, than we could 10 or even two years ago. that kind of switching is already being done. i don't think it's going to be quite as bad as some of the people who say the worst is going to happen if we

and trade the big stories of the day, steve weiss, sarat, swron and pete najarian here, carrie firestone, rob is back of ubs private wealth management, one of forbes to be 100 financial advisors and cnbc senior economics reporter steve liesman. we begin with the markets, stocks reacting to a slew of economic reports, headlines around trade what else is new the most recent being that the trump administration plans, according to our kayla tausche, to delay auto tariffs for six months, good enough to turn the s&p positive pete, nice to see you back at the table. that's all it takes, positive headline on trade and the market gets swayed. >> and i think the one read i'm trying to take away from this is how far are they extending the true today talks we're talking about every single day, which is china. obviously that time frame has come and gone, we've gone back and forth with the tariffs and all this the interesting thing in the market right now is not only is there an incredible amount of volume flowing in right now, about $3 million above normal in the options market, is flowing so the paper is there. but what about volatility? how about the fact th