david: he is the chairman of the council of economic advisers. time for a check on markets with emma chandra. is risk on in the u.s. thanks to the better-than-expected jobs report. the real catalyst is the major indexes. the dow jones up .7. the s&p 500 .8% and the nasdaq over 1%. we are looking at the russell 2000. that is rising over 1%. it is that jobs report that is the catalyst. let's take a look at the s&p 500 more closely. trading close to its last closing high, that was the high on tuesday of this week. every single sector in the s&p 500 trading in the green today. we are led by energy and consumer discretion. what is consumer discretionary -- it is amazon the big leader there. rising 3% after warren buffett said he was building a stake in amazon after saying he was an idiot for being late to the party there. the adage better late than never seems to be ringing true. up through get an stock offerings. it helps with liquidity questions. i wanted to mention monster the best share%, move since march 2017. first-quarter sales came in much bet

here's what kevin hasset chairman of the economic council said last night about walmart's announcement> doesn't the cfo of walmart know what he's talking about. i don't think he's going to say prices are going up, unless they're going to go up. >> there's a million things and of course there are going to be some products that don't have close substitutes, but a lot of them do. which is dominating. if you look at inflation, it's been decelerating. >> you think he's got it wrong? >> it's not in the data what he's saying, not in the aggregate data for sure. >> clearly the white house wants to down play the notion that consumers are going to pay the price for the president's trade war. walmart isn't the only retailer warning tariffs will hurt consumers, macy's will raise prices on merchandise because of the trade war. on the other side, stanley black and decker announced it plans to move production of craftsman wrenches out of china and to the u.s. building a new plant in fort worth, texas, that will open in late 2020. the tariffs make it profitable for them, more profitable for them to ma

the economic council added up approximately 28,200 homeless people in san francisco in the overall bay area. and i want to show you these pictures close up so you can see what type of apartment -- >> michael, you're done. >> thank you, sir. >> thank you. appreciate it. [applause] >> no clapping. >> my name is bruce, and i would like you to delay the navigation center. you've heard from all the local residents, and 90% of whom are concerned. you've heard from the local businesses who rent from you on the wharf. all of those businesses are concerned about their thing. the community advisory group, all their feedback, and it's been 100%, we need to delay this, and yet, they're moving forward. everybody is concerned, and the reason they're concerned, you won't believe there, but if you do the math, there's 1,377 new active drug users will be brought into this area. now i know that seems like a crazy high number, right? but according to the department of homelessness, approximately 30% of homeless people are active substance abusers, and each stay, according to what i was told is an average

million is going to be directed towards helping homeless people, okay, and by the same response, the economic council wants to spend 12.7 million to house all the homeless people that is located in san francisco bay area. is that clear? and here is the mountain view building where it only costs $56 million for this building. and this just flows. san mateo it's building 68 unit building for $57 million, so if you use this technique, you will be saving millions of dollars, and all the people that is homeless out on the street can have their own apartments instead of going in and out of navigation centers. you keep doing the same thing over and over, year after year, administration after administration, and turn around and wonder why you have so many people on the streets. it is not fair. >> thank you, mr. right. are there any other public speakers? seeing none, public comment is now closed. can we please have a motion to approve the budget, please? so moved by commissioner singh, seconded by commissioner mar. can we take that without objection? thank you very much. please call item number 5. >> item nu

trump on the economic impact of the new immigration proposals, potentially generating as much as 600 billion dollars in gdp. joining us tonight is kevin hasset the chairman of the president's council of economic advisors, and it is great to have you with us, kevin. >> great to be here. lou: this proposal, you had an important part to play in its formulation. the idea that an immigration plan, a border security plan could generate economic growth, that's a fascinating concept and i think perhaps an unheard of economic impact statement on a border plan, an immigration plan in the country's history. >> right, well, you know, the president as you know all the way back to the campaign has said that we need to switch to a merit-based system. and he was right. he also said, you know, the politicians didn't design this plan. well, he's a politician. he was in the middle of it all, but he did tell the border security guys to give him their best advice, and on the legal immigration side, he told us that at the council of economic advisors to look at best practices around the world and think about what immigration plan could maximize economic growth here in the u.s. we think if the president

booker trying to get barack obama all of the credit for the current economic boom we're experiencing, but not without the national economic councilng in to say uh, uh, that's not true. >> i love that trump is taking credit for a recovery that started under obama. who is the economy going to work for? >> what mr. booker and some others are saying is not true factually. potus policies, to rebuild the economy, have entered us into a tremendous prosperity cycle. >> reporter: so here's what we know for sure. the u.s. economy added 263,000 jobs in april, dropping the unemployment rate down to 3.6%. that's the lowest number since 1969, pretty good. lauren and cheryl. cheryl: markets rallied on that news on friday. that's another economic boom. great report. thank you very much. lauren: today is a different story. it's a he global selloff. the chinese market tumbling more than 5% and we're seeing follow-through in the u.s. with the dow down 516, nasdaq down 184. coming up, federal investigators now have the black box from the 737 jet that skid into a river in florida, forcing passengers to evacuate. details on the latest incident involvi

jared kushner, his top adviser on immigration, stephen miller, and the chair of the white house economic counsel -- the councilc advisers, kevin hassett, who were on capitol hill this week reportedly trying to corral support from gop lawmakers and map out the messaging. but the proposal is probably dead on arrival, because it once again calls for more money for border wall construction and fails to address a number of seri

talking with members of the senior economic council, it seems clear to me that they are going throughions. they are engaging with the administration. they would like to work with are --lighthities zer. speaking with him, i know they have been working in honest to get an corral the members they have on board to get the u.s.m.c.a.. because there are things they like about it, it has increased wages, increased environmental oversight, but you can't have that conversation while you are detaining children at the border, or threatening to slap tariffs on billions of dollars of goods that will be paid for by consumers time and time again. david: effortlessly to china at the moment. we had the announcement, this morning that they would put together this list of "unreliable entities,' apparenty in retaliation to while in -- unreliable entities, apparently in relation to huawei. what question does this raising your mind about the u.s. sticking to its deals? henrietta: that is exactly the right point. we have heard this from resident months,ng for several this fear that even if they did acquiesc

had expected a trump administration to make this announcement a year ago and sources in the national economic council has blocked the move for months and just a drop of the objection as trade talks hit an impasse. here's a chairman. >> protecting the communications network system is critical to our national security, our economy and our personal privacy. especially when you are talking about companies that are located in countries that have a threat to the united states. it's important to take steps to protect those networks and so i applaud the president for issuing this executive order. >> they are preparing a row that may restrict federal subsidies to carriers that use the gear, number of american carriers do because it's cheaper than european gear such as erickson, they have told the government that replacing huawei is a cost they cannot afford so this has to be addressed, but what is clear is that neither washington or beijing is backing down on their economic dispute. so far the trump administration's tough stance is winning over critics and voters, even house speaker nancy pelosi, chuck schume

jared kushner, his top adviser on immigration, stephen miller, and the chair of the white house economic counsel -- the council of economic advisers, kevin hassett, who were on capitol hill this week reportedly trying to corral support from gop lawmakers and map out the messaging. but the proposal is probably dead on arrival, because it once again calls for more money for border wall construction and fails to address a number of serious issues like the status of so-called dreamers, which those two issues basically make it a nonstarter for democrats. it also fails to address the overall level of immigration into the country, which is a major goal for conservatives and anti-immigration groups. >> we come up with a policy like this, make no mistake about it, it's cruel and inhumane, but it also hurts our economy significantly. and if you don't believe me, talk to business leaders. >> i think you might get all republicans, at least most of us, but you don't address the 11 million. i can't imagine any solution to our immigration problems that doesn't deal with 11 million. >> here's what the proposal does do. it man

the average income of legal immigrants would be about $93,000. the council of economic advisers would help grow gdp and increase tax revenue for the treasury department. whether or not this will fly, democrats have laid out some markers. we'll talk about that in a second, ed. there's also some things that this doesn't include that i know you want to talk about. >> ed: obviously a lot of important details of what's in the plan. what's not in it, the president noting lindsey graham was there. he's trying to focus on his own bill that will deal with cracking down on illegal immigration. this bill doesn't have daca in there. >> the president has talked about a fix for daca, a path for citizenship. they didn't include this in this plan. they're trying to rally republican support around this idea of changing the legal immigration system, daca may come further on. if you get against a wall with democrats, throw in protections for daca. but right now, it's more of a political document than anything. they're looking for something for 2020. you heard the president say, if we don'

according to bob woodward's book on multiple occasions gary cohn, the national economic council directorrevented the president from pulling out of a trade deal simply by stealing the relevant order off his desk when he wasn't looking. the president ordered troops out of syria last december, you remember that but that order has not been laid down. it's been delayed and mitigated again and again. now it looks like troops will stay in syria indefinitely. in fact, we are now sending troops to the middle east in even larger numbers directly contravening the president's campaign promises. as we just sold you the same might happen with the president's latest call for declassification. john brennan and others is calling for bureaucracy to ignore the order. think about that. like so many on the left, brennan is doing precisely what he accuses others of doing. you are undermining democracy they scream even as they work to do just that how are they doing it to recap civics at its most basic level all authority in representative democracy flows from voters. the president and the vice president are t

we will be having a briefing by the national economic council on may 21 if anyone is interested in that and that's our next program and say thank you for being here and appreciate your interest in the international center. [applause] [inaudible conversations] [inaudible conversations] >> today on c-span representative alexandria ocasio-cortez and senators bernie sanders and ed markey will be speaking at a rally for the green new deal. it will address climate change. live at 7:00 p.m. eastern on the span, online at c-span .org and on the c-span radio app. >> once tv simply three dynamics and the government supported service called pbl then in 1979 a small network with an unusual name rolled out a big idea. let viewers decide what is important to them? c-span what open the doors for all to see unfiltered congress from content from congress and gambit in the age of the power to the people this is true people power but in the 40 years since the landscape has changed no monolithic media broadcasting is given way and youtube star are anything. c-span's big idea is more relevant today than eve

so former national director for the national economic council ie the president's economist, gary cohndakota senator heidi heitkamp decided to ask the next generation for a fix in the form of a competition. gary joined us last month to tell us about the competition and now he is back. welcome with the winners from the harvard kennedy school of government, roy lu and anthony pasco. gary, again, thank you for doing this. i've got to go to the winners first. loy, lay out your solution. >> sure. thank you so much for having us on the show. we would like to give a shoutout to the four members on the team. we came up with a bundle situation. there are three main pillars that start with c. cultivating contributions. we're trying to eliminate the payroll tax cap but at the same time, lower the payroll tax rate so that it creates a tax cut for 95% of americans. the second bundle is called the controlling costs. and to do that, we want to go more towards indexes, for example, indexing retirement age and also indexing the cost of living adjustment. our third "c" is around compounding capital whic

msnbc contributor and former director of the national economic council for president's clinton and obama. first to you, the president this morning he keeps going after china on trade. he blame them for backing away from a deal and refuses to accept what his own economic adviser larry kudlow said on sunday that tariffs are taxes on american consumers. >> he was defiant again today as he's heading to louisianlouisia. the president reiterating what his economic adviser has broken with the very idea. who will bear the brunt of this. the president trying to suggest it wouldn't be u.s. consumers. he was pressed on his language calling this a squabble when it's an all out trade war and i asked him, is he winning the trade war. he didn't deny the dispute rose to that level. he tried to make the case they are winning the trade war. he said we always win. he does have plans to meet with which the xi at the g-20 summit next month. it's not clear that active negotiations are under way. he denied they are at a stand still but bottom line it's not clear how this all ends. we know there are jitters acr

economist at the university of bonn, a member of the german council of economic experts. nutes to go to the start of economic trading. the ftse 100.on nine minutes to go until the start of trade. we will look next at the stocks to watch at that opening -- at the opening. including volkswagen. this is bloomberg. ♪ matt: where over five minutes away from the open. let's get your stocks to watch. tom is looking at bmw. -- danny is working on stocks that could be affected by the latest exit news. let's start with you. the new ceo of debt -- of bmw. tom: we don't know yet. current ceo harald kruger's turn expired. normally they would announce a renewal in the next couple of months. people familiar are saying his contractors -- his contract is not a sure thing. he is -- they are lagging behind rivals in terms of art and ships and bring out elect model particularly suvs. some supervisory board members are questioning whether he should continue. .nna: let's come to you >> this is a swedish cosmetics company that has been struggling exposedbit great it is to turkey and latin americ

middle a's role in the east looking at economic, political, and security issues. hosted by the atlantic council and it's live eastern, at 2:00 p.m. also on c-span. reviews are in for c-span's the president's book. "new yorky topped the times" new and noteworthy column. t is called a mile post in the evolving and ever changing reputations of our presidents and from the new york journal of presidents makes a fast engrossing read. father's ations and day fast approaching, c-span's the presidents" makes a great gift. noted historians rate the beand executives, from george washington to barack obama. c-span's "the presidents" is now as a hard cover or e- book today. earlier today, special counsel robert mueller delivered his on the blic statement investigation into russian interference in the 2016 presidential campaign. speaking about the report, he said he was resigning is position and closing the office he has led since 2017. this is 10 minutes. mueller: good morning, everyone. thank you for being here. two years ago, the acting attorney general asked me to serve as a special counsel. he created t

coming up, we talk with a former member of the national economic council about apostle confrontation with iran. this is bloomberg. ♪ ♪ this is "balance of power" on bloomberg television. i'm david westin. told us a fewli moments ago that treasury secretary steven mnuchin and said trump administration officials will most likely go to beijing in the near future to continue trade talks. secretary mnuchin testified before the senate appropriations hearing today about whether the two countries are getting closer to a deal. >> there is still a lot of work to do, and i can assure you president trump is determined for us to have free and fair trade, must have a fair relationship with the rules we can compete fairly. said aetary mnuchin also u.s./china trade deal would be a huge opportunity for american workers and companies. escalating tensions between washington and iran. the state department has demanded all nonemergency staff in iraq to leave that country immediately. leslie, washington said it detected new threats from iran and its proxies targeting american interests in the region. cong

earlier this year the bay area council economic institute put a staggering price tag on fixing homelessness and says the an e construction cost of $450,000 per home for each of the 28,000 people who are reported homeless in the nine bay area counties. a large number of them are also living out in the open in tents, a car, or someplace else. >>> bart's fleet of the future is slowly getting on track. a report by "the chronicle" says the transit agency just received its 84th car last week. the goal was to have 775 of the new cars running by 2022, but now the date has been pushed back to 2023. right now 75 have been given the green light by the state and considering the typical train is ten cars long, that is seven and a half trains. bart has faced a variety of challenges in getting the new cars rolling primarily because of new software. it is pretty complex and one mistake could cause a malfunction. >>> happening now a star-studded event is going on in san francisco to raise awareness and help in the fig ainst lyme disease. about 320,000 americans are diagnosed with it every year. we'll go liv

we will be having a briefing by the national economic council on may 21st, if anybody is interested in that. that's our next program. thank you for being here and appreciate your interest in meridien international center. [applaus [applause]. [inaudible conversations] >> here is a look at our live coverage on tuesday. the house is back at 10 a.m. for general speeches with legislative business at noon. on the agenda, several veteran related bills, including one on suicide prevention. on c-span2, they plan to return to traditional nomination including daniel collins for the 9th circuit court of appeals and the c-span 3, a hearing on the mueller report planned for 10 a.m. eastern without former white house counsel don mcgann who informed the committee through his lawyers on monday, he would not appear based on instructions from the white house and later in the day the house ways and means subcommittee looks at ways for patients from receiving unexpected medical bills. that gets underway at 3 p.m. eastern. >> c-span's newest book, the presidents, noted historians rank america's best and wo

larry lindsay, ceo of the lindsay group, a former fed governor and former director of the national economic council larry, welcome my guess is that you think the fed should cut rates but not for the reason the president is citing >> well, i think the fed should wait i think the fed is right to be patient. going forward i think we are going to see more disinflation the gdp deflator i think by next year will be running very, very close to 1%, which should make the fed uncomfortable. if it does, they may proceed to cut rates. but no, not right now. as i read that quote, kelly, i think it was more a dig at china, which is trying to levitate itself by using good old-fashioned monetary and fiscal policy that probably isn't going to work for them. >> ironically, larry, if they do deval devaluate, it will for the u.s. offset the tariffs in a way it would help u.s. consumers and businesses >> yeah, i'm not confident they will do that remember, last fall they took the yuan down to very close to 7 to the dollar. i think it was 6.95 at its bottom there's a magic number there around 7 there's a sense that if ch

the atlantic council and chris c. mcdaniel former senior trade economist on the white house council of economic advisers fred, i'll starth you. where do you think the presidential's head is at at the moment is this game playing and maneuvering or is he serious these extra tariffs are going to stay in place for a long period of time? >> i for a long time have been critical of traders and investors in looking at these trade talks in isolation from the overall tensions in a relationship that has become much more about strategic competition than engagement. i think we're in a position where trump was betting that the chinese leader would have to make compromises because his economy is so fragile. the chinese leader was betting that trump would blink first because he needs a deal by 2020. and what we found out is these trade talks are about a lot more than trade so i think we really have to look at the underlying geopolitics between the two countries, which is getting more tense on the technology front, more tense in the south china sea with freedom of navigation maneuvers. so i think market analysts have to start becoming a

the chairman of the council of economic advisers shouldn't be issuing written reports 3 weeks after the. he should be on tv sunday. countering this nonsense. when the chinese make these claims about sovereignty and honor and so forth, there are good counters to this. the chinese are being disingenuous and negotiating in bad faith and the people of bloomberg to characterize this as usual negotiating tactics. it is not. president xi jinping, china is writing the arc of history, to be the rule maker for all, the omnipotent state in which supplicants like america - rob: the fight is important and the president is risking his crown jewel, the economy, and -- jillian: a lot of people differ from that. rob: we appreciate your time, we are out of time. jillian: over time. rob: 19 minutes after the hour. a war of words over rashida tlaib's holocaust comments. jillian: democrats coming to her defense dealing with backlash of their own, carly shimkus has this one. you don't want to miss it. i wit, but i can tell you liberty mutual customized my car insurance so i only pay for what i need. oh no, n

. >>> coming up, we'll speak with kevin hassett, the chairman of the white house council of economic advisers. >> as far as the president is concerned, switching gears here, his former white house attorney don mcgahn has said enough, more than enough. the former white house council who spoke to mueller who said the president ordered him to have mueller removed and then to lie about it will not be talking to the house judiciary committee, subpoena or no, if the president has his druthers. >> i have had him testifying already for 30 hours. >> so is the answer no? >> i don't think i can let him and tell everybody else you can. i would say it's done. we have been through this. nobody has ever done what i have done. i have given total transparency. it's never happened before like this. >> turns out that while the president was cheering the special counsel's final report, falsely claiming total exoneration, a white house lawyer was firing off a blistering complaint to the justice department in a newly revealed letter. emmet flood said robert mueller failed in his mission, exceeded his autho

chairman of the white house council of economic advisers. >>> next, congressman justin amosh the first lawmaker to call out president trump for impeachable conduct, recommending congress pursue obstruction of justice charges. we will walk you through the impeachment process after the break. you're watching msnbc. r the break. you're watching msnbc. iand i don't add up the years. but what i do count on... is staying happy and healthy. so, i add protein, vitamins and minerals to my diet with boost®. boost® high protein nutritional drink has 20 grams of protein, along with 26 essential vitamins and minerals your body needs. all with guaranteed great taste. and now try new boost® peaches and creme natural flavor. with 27 vitamins and minerals and 10 grams of protein. boost®. be up for life™. hi, i'm joan lunden. when my mother began forgetting things, we didn't know where to turn for more information. that's why i recommend a free service called a place for mom. we have local senior living advisors who can answer your questions about dementia or memory care and, if necessary, help you find

is not powerful enough to make up for all the all the elect us influence your lack of us for foreign and economic power sarah palin with the german council on foreign relations i thank you. well here's some of the other stories now that are making headlines around the world the british government is going to put the e.u. withdrawal agreement bill the braggs plan to parliament again at the beginning of june u.k. lawmakers have rejected the deal that prime minister theresa may agreed to with the european union last november they've rejected 3 times this will be parliament's 4th vote on that breaks it plain mexican authorities have discovered 142 migrants crammed into the back of a truck in their recruits many of them are children activists say the clamp down on illegal migration is causing many central americans to take more risks in their bid to cross the border into the u.s. rescuers are searching for a boy swept away by a swollen river in northern bosnia scores of homes have been swamped and hundreds of people have had to be evacuated after torrential rain neighboring croatia has also been affected by flooding. turkey's military has lau

we recently attended the arctic economic council also. it was really interesting because it was a lot about the infrastructure and responsible development. the thing we're trying to do for our company is do more of the informational infrastructure that you talked about. a question i had was for governments and businesses currently, how do they sea ice forecasts to be able to plan the logistics to be able to do kind of that infrastructure building? >> that sounds like a noaa question. sarah, you want to take a crack at that? >> that's a really great question. i am not an expert in this particular field. and i know that the forecast, they are working very hard to make those forecasts more accurate. so be there more than 5 days out. there was a presentation, a partnership through the department of homeland security. there was a presentation talking about sea ice forecast. i'm not exactly sure how exactly things are progressing on that. i know right now you only have a few days' window to project. in my case, i'm trying to figure out what the

the new stadium at howard terminal would generate more than 7 billion in economic benefits over ten years. that is according to analysis done by the bay area councilstitute. in addition it would create more than 6100 permanent jobs. the study also claims the benefits of the project would ripple through oakland for years to come. >>> well, an extra swarm of officers in the south bay today enforcing county wide traffic initiatives. chp teaming up with officers from several communities to watch for a number of things so be on the lookout. among them, speeding, holding your cell phone, whether you're in the car pool and violating that, and some red light violations as well. as of a few hours ago they had written nearly 150 tickets and issued more than 30 warnings, so you've been told. >>> up next at 6:30 robert mueller's first public comments in two years. to simone, i leave the van gogh. to harrison, the wine collection. grace, you get the beach house, just don't leave the lights on, okay? to mateo, my favorite chair. to chris, the family recipes. to craig, this rock. to jamie, well, let's just say, enjoy the ride. the redwoods to the redheads. the r

. >> false, you know, kevin hassett, the head of the council of economic advisors dismantled that argument with chart after chart showing trend lines on several indicators going down, president trump reversing it. i give you one indicator, under joe biden's vice presidency, president obama's presidency, we loss of 200,000 manufacturing jobs, a loss. the president comes in, finds the magic wand that president obama says doesn't exist and creates 500,000 manufacturing jobs. that's a complete opposite trend line there. joe biden, happy to go toe to toe with his record, none of those are the recipe for this economy. president trump's premarket policies are working. we see it each and every month. >> shannon: knowing the numbers you cite, the numbers we got today, the the economic data are positive for the president, do democrats shift to the other topics or do they take the tactic senator bennett did and say this is the product of president obama's work. we know it's something that the american people feel good about. what other topics, do they tell you about the personality, the character. wh

the lowest in 49 years. hassett, thevin chair of the council of economic advisors. welcome. it is good to have you. as opposed to 190,000 predicted. what is going on? kevin: if we could go back to reportckbuster gq -- gdp and say the economy is not slowing down but is

the we know that china. this is why it is so important to heed president trump and the council economic advisors and robert lighthizernd certainly larry kudlow's words, china will suffer more in the long run than the united states can. we might take a couple on the chin but we'll land a haymaker. china knows that. we have to stick this out. this could well lead to the next cold war for the between the united states and china. americans have to unite. we have to build a coalition of the willing with our allies around the world. it has to be u.s. policy that transcends administrations. charles: some people think we were fighting a cold war but americans never knew about it. chris, thanks very much. >> thank you, charles. charles: stocks bouncing back after suffering the worst day since january. the resolution that is is inevitable the alternatives most say are simply too awful. industrials, tech, they're leading the market. the dow in triple digit gains. joining me to discuss this, david nelson, bellpointe chief strategist, kevin hicks, senior equity strategist at td ameritrade. nelson, let me start with you. >> sure.

want a deal he wants the deal and the deal is complete removal of all the economic sanctions and everything that the security council is passing twenty sixteen in exchange for the dismantling of the yongbyon nuclear facility now his team were told long before annoyed that that just wasn't going to fly but he either they didn't tell him or he thought he could nevertheless persuade president trump to accept his deal and when president trump after several hours of talks and it wasn't a snap decision maker that story this just wasn't good enough kim jong un was actually quite surprised people say the blood drained from his face he had never thought that the americans would turn it down really interesting to talk to you john or at joining us in studio right now thank you so much thank you thank you. now it's like i'm forty has hit by the dash killing at least twelve people on friday and battered eastern india killing twelve people in all dishes states where a massive cleanup is now underway. has more details. a trail of destruction along india's eastern coast. with winds around two hundred kilometers per hour cycling fer

here's what kevin hasset, the president's chairman of the council of economic advisers said about thement. >> does the cfo of walmart know what he's talking about, i don't think he would say prices are going to go up unless he knew they were going to go up. >> there's a million things and of course there are products that don't have close substitutes but a lot of them do and in the end it's empirical question, which is dominating, if you look at inflation, it's accelerating. >> so the president -- >> it's not in the data what he's saying, not in the aggregate data for sure. >> down playing clearly what everyone says is, at some point, big tariffs get passed on to consumers. walmart is not the only retailer. macy's will raise prices on some merchandise payoff the trade war. on the other side of trump's tariffs, stanley black did and deck -- black and decker announced building a new plant in fort worth, texas, that will open in late 2020. it will employ 500 full-time employees and the company made a big point it's going to be a more modern technologically advanced plan in fort worth tha

. >>> america's top economic students to compete in the council for national economics challenge andrewhere. >> hey there we are with the winners. they literally just won in a nail biter, can we agree tell us what high school you're from and you guys, it was down to the wire what was the hardest question for you guys >> there was a question where they asked us for differences in credit and i think that was a difficult fact question we couldn't get. >> and you guys have been preparing for this for a long time so tell us, for those in the audience, how do you prepare what are you doing all the time? >> well, our teacher actually teaches us economics classes, so we're in ap economics and he's done so much for us this year. i can't think him enough, on top of that, all the textbooks, and all of that, and then all the resource banks which the cee posted online, integral in helping us. >> how did you get in economics to begin with? >> so we actually got recruited the same way that our david ricardo team got recruited and we got recruited at the same time while we were on, but the summer after

. >> more about this, sean randolph with the bay area council economic institute. today. president trump threatening to hike tariffs on china. what kind of an effect do you think this has on the chances of getting a trade deal done with china? well, this isn't a news story if you go back as long as a year. there's been a threat to increase tariffs by the president. you might recall that in march, that was the last deadline after which the tariffs did go from 10% to 25%. moving forward, whether it does the trick, whether it's effective remains to be seen. >> on that point, i was going to ask you. do you think that this strategy will work? >> well, i wouldn't count on it working. this has been going on for a very very long time. with tariffs before, it happened on and off. so it could. i think the reason the markets were disappointed is there's anticipation for the last month, month and a half that there will be a deal. things according to the media have been going fairly well, and people have expected things, they're within reach. a new agreement. so there's kind of

may mean, we're joined by james spurling, former director of the national economic council for both presidentnt clinton. good to have you back. good evening. >> thank you for having me >> knowinging what you know about the president and his negotiating tactics, is this posturing or not >> i think what is puzzling people that is not the tough message was sent as the chinese delegation was on the way. but that it was done so publicly and with such a public threat, you could argue, and i think markets could feel this way, that it kind of hamstrung the chinese delegation into actually giving the deal that president trump wants. in other words, had lighthizer -- excuse me, had the u.s. negotiator lighthizer come and said, listen, the president is upset, we don't get this or that, we might walk away, that's a tough message. when you do it publicly, like that, in a threatening way, you can put -- you can start raising these issues of whether now you put china in a position where they actually can't give what you want this week because they may not be a democracy, but they still care a lot about not

as a way to be able to sway favor and get into the pivotal trump administration when trump was a candidate. he was able to get on the council of economic advisers in 2016 and laid out a list of positions he would like, secretary of commerce, treasury, even the secretary of the army. this didn't go through in part because manafort then came off the campaign after his arrest in 2016, he couldn't curry as much favor. it showed there was pay for play and he was in the middle of it. >> thank you for the reporting on this. julia ainsley, nbc news correspondent. >>> coming up, the $16 billion aid package for farmers. second bailout for losses they sustained as a result of his trade war with china. we bring that to you live when it happens. you're watching msnbc. it's tough to quit smoking cold turkey. so chantix can help you quit slow turkey. along with support, chantix is proven to help you quit. with chantix you can keep smoking at first and ease into quitting so when the day arrives, you'll be more ready to kiss cigarettes goodbye. when you try to quit smoking, with or without chantix, you may have nicotine withdrawal symptoms. stop chanti

not powerful enough to make up for all the all the elect us influence here that lack of us for foreign and economic power sarah palin with the german council on foreign relations i thank you. well here's some of the other stories now that are making headlines around the world turkey's military has launched a massive exercise in the mediterranean jian in black sea for the 2nd time this year the defense ministry says one $130.00 warships and almost $26000.00 members of the armed forces are involved in the drills come amid renewed tensions over on korea's plans to extract natural gas off the divided island of cyprus venezuelan security forces have surrounded the opposition controlled congress members say they were refused access to the building ahead of a planned debate the national assembly has come under increasing pressure from president nicolas maduro since the opposition appealed for a military uprising back on april 30th a california jury has awarded more than $2000000000.00 to a couple who claimed that monsanto's roundup weed killer calls their cancer they used round up for more than 3 decades at their home and on other properties germ

lure mr trump to war with iran despite is the stated intention of limiting him self to economic warfare which is really as bad as war itself. the un security council has rejected a russian request to hold a discussion on a new controversial language law in ukraine russia's ambassador says the law is a violation of international agreements and accused the council of double standards . we deeply regret that a number of delegations nevertheless decided to apply double standards in discussing the queen in a topic in the security council of the united nations we understand this is a topic that is not pleasant for you because it does not make it possible for you to justify your charges in kiev. who are violating their right to fundamental rights and freedoms of millions of their own citizens well russia brought to the 15 member body that leads the united nations a proposal to discuss the russian language in ukraine now there was just recently a bill signed into law by ukraine's outgoing president poroshenko on may 15th that stipulates that all ukrainian citizens from now on are obliged to use the ukrainian language in all areas of life and it's importan

the obama administration for allowing china to rip us off. here now to weigh in, former obama chairman of the council of economic advisors, university of chicagocs professor, austan goolsbee. thanks for joining us. trump took a lot of former administrations to task, republican, and democrats, saying this is a issue brewing for a long time and he has some interesting allies in chuck schumer and nancy pelosi and other democrats who want him to stay the course in this fight. where do you fall? >> totally opposed to tariffs. the $100 billion isn't being paid by china. it is being paid by the american consumers, by american farmers, by american manufacturing firms. so i think, you saw the market react postively. every time they think that donald trump and the white house are on a path to find a way out of this mess the market goes up. every time the president says something that makes it seem like he is going to try to carry out this agenda of putting 100 billion-dollar tax on the american people you see the market go down and i don't think that is coincidence. charles: the market has done pretty well a year into tariffs that already exist on chine

it is the lowest we have seen in nearly 50 years since back in december of 1969. joining me now, former chairman of the council of economic advisers for president obama. let's talk about this. this report exceeded wall street expectations of 190 grand. what do you think was the main factor here in such positive growth? >> look, i think that you see the job numbers get better when the economy speeds up and we got the gdp growth number that was better than expected, so i don't think it's surprising to see that continue over into the jobs numbers. that part is great. we'll take a nice, fat juicy number. the unemployment rate ticked down only because more people left the labor force. it went down for the wrong reason that. one doesn't look as good. but the jobs number itself looked very good and was encouraging. >> the president says this is the best economy ever, yet vice president mike pence was on cnbc today, and he talked interest rates. listen to what he said. >> the dow has been on the tear this whole year. isn't this when you really want to be raising interest rates ultimately to keep the economy from overheating to he