oh yeah i knew without a now a steel producer in the u.s. state of michigan is laying off hundreds of people playing the impact of donald trump's trade war with china with china the swing state was crucial to his victory in the 2016 election and he is there with promises of providing local industries. has more on the story. michigan the traditional home of the auto industry is a big chunk of what's referred to as the rust belt of the american heartland recently the industrial state has been economically declining as many u.s. factories have closed their doors hundreds of workers at the great lakes facility will be getting a temporary layoff according to what has just been filed by the u.s. steel corporation is anticipated that the total number of layoffs will be less than 200 these are just so that you see current market conditions and recent reductions in customer demand for the pons products last year donald trump opposed to 25 percent tariff on foreign steel imports saying it would help make america great again we're going to build our st

they did so the tariffs don't work what happened was those 25 percent tariffs on steel imports the u.s. steel companies took advantage of those tariffs the steel companies name it related the terms to their benefit didn't hire workers and now because their prices are too high. they have to lay people off because they're losing cannot competition demand . for weak i've got some dramatic footage to show you from the russian city of trunk father dan got his baby daughter out of the window they're threatening to drop her luckily though some local police officers managed to save the day. was. the only good vehicle for which a person suppose most of the time. a quick comment. or are you going to use a should be worth learning to see just to get the shimmer of the story because just for the audience mostly because folks of a season is feeling. hopeless that's is still supposed to know it's been a move to salute those true years old due to the sort of mood 006 the chill local. dump a good place to blow up the movie is awesome. so this is the most fun to. show we should. put a show to shake up little

have the opposite of the desired effect the price of the stock of u.s. steel has decreased by 73 percent and the price of hard rolled coil has gone down by over a 3rd for trump who is looking to get reelected in 2020 this is not a small matter michigan which had previously gone for obama was key in sending him to the oval office he knew how to tap into the resentment of residents of michigan who've seen their state decline over decades of dnd is ation and decay furthermore hillary clinton almost ignored the state of michigan during the 2016 campaign why is secretary clinton going to michigan today isn't that sort of considered you know one of the pillars of the infamous blue wall wife then time there rather than you know one of the places it's more of a swing plus as secretary of state hillary clinton oversaw the sale of high tech battery firms to china this cost lots of industrial jobs donald trump said that he would do the opposite and for michigan we will bring back your automobile production and we will bring back your industry when bill clinton was in off

now one of the struggling steel producers, u.s. steelit's temporarily laying off 200 workers at a plant in michigan. the trump administration rolled out a 25% tariff on steel imports that helped lift prices in 2018 but slowed down the auto, energy and construction sectors along with increased production led to over supply and a sharp drop in prices this year. that has workers worried for their futures. we have more from michigan. >> reporter: hi, dave and julia. members of this community confused and shocked after u.s. steel announced it was temporarily laying off about 200 workers at the factory behind me. the company says that these layoffs are because of ongoing challenging market conditions. now this is very much in contrast to what we heard from the president in the last week. he often credits himself to bringing back the steel industry, but we spoke to one city official here who says he finds no evidence of that and he and another community leader are concerned these temporary layoffs will become permanent. >> we assume that we'd h

u.s. president donald trump claimed in the steel industry of pennsylvania that he actually. turned a dense business into a thriving enterprise well those numbers actually tell a different story. they insist more talk today in the u.s. about economic stimulus toward offer a session what's in discussion. that actually seems to be the big new idea here in the united states but we heard similar arguments over in germany for instance so the central banks overall seem to basically got rid of all their dry powder so now. we see the turn to fiscal politics so there is the idea of for example here in the u.s. to cut payroll taxes but that is very unlikely to happen even if us president donald trump on tuesday said that he's toying around with this idea but we're in the face of elections and it's basically impossible that there will be a majority for such plans but it's interesting to see even if we for example to full employment here in the united states every body seems to try whatever is possible to keep economic growth going or a quarter there for us in new york thank you yes germa

over in north america now where u.s. steel says it's laying off up to $200.00 workers for at least 6 months at its plant in the state of michigan back in june the company warned that softening demand and lower steel prices would lead to the closing of 2 blast furnaces at the great lakes facility layoffs call into question claims by u.s. president trump that he's reviving the domestic steel industry. and let's go to our financial correspondent in new york he ends korda so again some dark clouds over the steel industry what's really behind this. now well i mean when the current administration started to impose tariffs on steel and dollar minium in march of $28000.00 we saw a little bit of a production increase here in the united states but at the same time we saw prices for steel starting to decline and pays basically also between of the trade disputes between china and the united states let china to buy less steel and china pretty much is the biggest buyer of steel so steel prices started to stumble at the same is true for stoc

and also you mentioned the stock prices of u.s. steel.e about $12 a share, and that is 60% drop. as for when these temporary layoffs may be coming back online, jim, u.s. steel saying they don't have a date for when those jobs may officially be back. jim? >> so tell us about the employees there, any resources being provided to them while they're temporarily laid off? >> well, a temporary layoff is tough. it leaves people here in limbo. there is a resource here within the community that was created especially for this reason. so many of the workers are going to be turning to that community resource for extra job training or trying to get placed in other sectors of the steel industry. but the organizer of that resource center told me that because these layoffs are happening in a rolling way, they are going to expect to see more and more people come through trying to get ahold of these resources as they are really facing uncertain times, trying to figure out when they're going to be getting their jobs back, jim? >> vanessa on the ground there

this president as you know loves talking about u.s. steel. e a look and talk about it on the other side. >> united states steel is opening up six plants. the head of united states steel called me the other day. >> we're opening up seven of them. u.s. steel called me up. they're expanding and opening six plants. they're opening up seven other plants. u.s. steel just announced they're building six new steel mills. u.s. steel is opening up seven plants. >> that was all within the space of the summer of 2018. what is the truth, jonathan lamire? >> the truth is that the math is not the president's strong point it would appear. those are not happening. u.s. steel has had to close plants in michigan and other places in the midwest. there has not been an expansion of plants. hundreds of workers in michigan. that is the latest in a series of sort of restrictions. this is an industry despite the president's promises, it's not a dazzling market right now. these are places where towns are suffering, workers are not getting the growth they want. and in ter

shares of u.s. steel lower today and the company plans to layoff temporarily 200 workers in michigan that is micong up in "rapid fire." stay with us >>> welcome back to "the exchange." here's some of the movers this hour shares of teva the availability of an fda approved generic version of the epi pen jr. the stocks had a rough ride this year, though down 53% mccormack also in the red today. jpmorgan downgrading to underperform from neutral and the potential for a disappointment in the future acquisitions and shares of sarepta shrinking after the fda failed to approve its new treatment for the form of musculardystrophy pointing to safety concerns. they were predicting sales for the treatment of the nearly $400 now, they said will you do "the exchange"? and i said, why? because you can toss to sue herera >> good to see you >> everybody is getting older except us. what is our secret sph. >> i don't know. >> just joy. joy being around here, right >> that's right. absolutely joe, great to see you. >> good to

instead, u.s. steelorarily laying off about 200 workers here at this factory behind me citing challenging market conditions this is very much in contrast what the president said here. he's even citing himself why the industry came back. we spoke to one city official that he sees no evidence of that. he and another community leader are concerned that these temporary layoffs may, in fact, become permanent. >> we assume that we'd have more production and, in fact, we thought it'd have the reverse effect. there'd be more hiring taking place locally. it was a shock. and i'm hoping that things reverse quickly. >> it's a recession when your neighbor's laid off. it's a depression when you get laid off. and it hasn't changed in the past 38 or 39 years. you know, you get concerned when you hear 200 people are laid off. so it is a concern. >> reporter: that 200 number of temporary layoffs may not sound like a lot when you compare it to the couple thousand that are working here at this factory. but the concern is ov

you can't get autos to go up to 19 million if they're stuck at 17 u.s. steel -- u.s. e economy and construction turning down a little bit, according to -- it is different just not great. >> u.s. steel market cap of $2.1 billion. >> beyond meat is -- how much bigger than? >> beyond meat, you know, beyond meat is the -- it is impossible meat >> david makes a good point. beyond meat up in the premarket. upgrade today out of jpmorgan. upgrading to overweight from neutral. citing potential for the company to acquire new customers, continued strength in measured data and valuation. they also take campbell's to neutral from under. >> can't have campbell's as a sell the management there used to be from pinnacle, good job. >> not stating any longer. now they have -- >> like keurig has a good manager. keurig is doing quite well keurig and dr. pepper. i get the case of beyond meat. it is the new way -- there is really an interesting line in that recommendation. food services are going to start using beyond meat. you go to your cnbc cafeteria and say i don't want dead cow methane.

if you just look at u.s. steel stock prices, this time last year u.s. ooking at $12. that is a 60% drop. and erica, as far as the temporary layoffs, u.s. steel said they don't know when these jobs will come back. erica. >> and certainly an important question. thank you. >>> as we look at all of this, the president today saying the economy is doing in his words phenomenally well. and also tried to distance himself from his own trade war. take a listen. >> this isn't my trade war. this is a trade war that should have taken place a long time ago by a lot of other presidents. somebody had to do it. i am the chosen one. somebody had to do it. so i'm taking on china. >> so i'm just going to let you go on that one. because he teed himself up for you. >> so he's joking, right. like it is meant to be a joke. i get that. he kind of looks up to the heavens but also like most things of donald trump jokes, not totally joking. he does believe himself to be a great man of history. he believes he was elected in this unbelievable upset which by the way he is 100% right a

but instead, u.s. steelg that they are going to temporarily be laying off about 200 workers here at this factory behind me, citing ongoing market challenges. and this is very different to what we've heard the president say just in the last week. he credited himself for bringing back the steel industry. but we spoke to one city official who says he sees no evidence of that here and he and another community leader are concerned that these temporary layoffs will become permanent. >> we assume that we would have more production, and in fact we thought it would have the resers effect, there would be more hiring taking place. it was a shock and i'm hoping that things reverse quickly. >> it's a recession when your neighbor is laid off. it's a depression when you get laid off. and it hasn't changed in the past 38 or 39 years. you get concerned when you hear 200 people are laid off. >> 200 layoffs may not sound like a lot when you're comparing it to the couple thousand employees who work here. but the concern is that

the u.s. steel is laying off up to $200.00 workers its plant in michigan the company says that softening demand the lowest 2 prices would lead to the closing of 2 blast furnaces u.s. president on a trumpet promise to revive the domestic steel industry. it's well commuters actually take the bus if there's no driver at the wheel that's what officials in singapore hope to find out as they prepare to launch a trial of self driving buses preparing to roll that out across the city state. his days are numbered at least if the trial goes well this driverless bus is one of several vehicles that singapore is trying out next week as part of a scheme to promote autonomous truck force if you've ever wondered how the technology works here is your explanation. for those of us keep it up using a wall or. using the braces all the street all senses like these. and the fuse that. did. almost bust where. we. train. passengers can use an app on their phone to book the shuttles to destinations on offer during the test ph

u.s. steelily laying off hundreds of workers in michigan. the layoffs are expected to happen at its great lakes facility in the coming weeks. the move comes after deciding to halt production at the facility. prices for steel have fallen due improved supplies and weakening demand. u.s. steel stock price has slid 73% since march 1st, 2018 when president trump announced his decision to crack down on foreign imports. and sugar concerns hitting juice box as parents and doctors worry about the health risks of sugary beverages. some popular brands are adding products that contain little to no juice or sugar. the question remains if children will enjoy these boxed drinks as much as the sweeter juice boxes. and that's what's happening now. cheryl: sounds like a podcast to me for lauren simonetti. lauren: we don't do juice in our household. tracee, thank you very much. every morning we check futures for you, big rally yesterday, caution today worldwide of economies around the world are hoping for central

keep in mind, u.s. steel losing jobs, rv sales are down, which is an indicator of the strength of the economy moving forward. aside from that, there's volatility in the stock market. so of course the president having touted his record on the economy as one of his strongest selling points for voters, has to be concerned about a potential recession going into 2020. aside from that, we will hear from the president today. he's set to welcome to president of romania into the white house and you can bet reporters will be asking him about these potential tax cuts. >> boris sanchez, always good to have you. thanks very much. >> will congress do anything when it comes to stronger background checks on gun sales once they return from recess? remember all the talk about coming back early? we're going to ask a democratic congress whether anything is going to get done this time. my insurance rates are probably gonna double. but dad, you've got allstate. with accident forgiveness they guarantee your rates won't go up just b

u.s. steel now -- all of them, they're all expanding. the steel industry is back. it is doing great. >> reporter: on gun control, the president seemed to downplay the need for tighter background checks. sources tell cnn the president has soured on the idea of new gun laws after talking with lawmakers and the nra. >> we are in very meaningful discussions with the democrats and i think the republicans are very unified. we are very strong on our second amendment, the democrats are not strong at all in the second amendment. and we have to be very careful about that. you know they call it the slippery slope. and all of a sudden everything gets taken away. we're not going to let that happen. >> reporter: but listen to what the president said earlier this month when he claimed he didn't agree with the notion of a slippery slope and nra talking points. >> nra has over the years taken a very, very tough stance on everything. and i understand it. you know, it is a slippery slope. they think you approve one thing and that leads to a lot of bad things. i don't agree with that.

u.s. steel announced up to 200 temporary layoffs in the crittal battleground state of michigan, less than a week after the president said the steel industry is humming along. >> we're doing steel. steel industry is hot. the steel industry, they were dumping steel all over. they were destroying our companies. u.s. steel now, all of them, they're all expanding. the steel industry is back. it's doing great. >> on gun control, the president also seemed to downplay the need for tighter background checks. sources tell cnn the president has soured on the idea of new gun laws after talking with lawmakers and the nra. >> a lot of people that put me where i am a strong believers in the second amendment. and i am also. and we have to be very careful about that. you know, they call it the slippery slope. and all of a sudden, everything gets taken away. we're not going to let that happen. >> but listen to what the president said earlier this month. when he claimed he didn't agree with the notion of a slipper

then we look at companies like u.s. steel having lay-offs this week. we know their second quarter earnings, we just heard, were one-third of what they were last year. >> right. >> what did we or -- i'm going to say it -- you miss? you argued that he had the right economic plan for those exact voters. >> but that is more in my opinion again more related to what is going on about the lack of predictability in trade and so the tariffs are disrupting everybody's supply chain including domestic manufacturing. you could read about that. i could send you stuff about that to explain the doctrine of unintended consequences of manipulate go-to tariff system the way he has and making it so unpredictable. as an example he could have said there is a differential. we're going 2% a quarter for ten quarters, get up to 20% but every business leader large and small businesses in america you have two and a half years to get yourselves there. but he didn't do that because he is a nars cyst and has to do everything himself. he threw a ball and roulette wheel, trump tower r

we learned yesterday u.s. steel is about to layoff employees in the state of michigan. and their second quarter earnings were one-third of what they were in the same quarter last year. but just last week president trump said the steel industry is thriving. michigan was a key swing state in 2016. how does news like this play there? >> this is why republicans and the trump folks have to be very, very nervous about this. two things. number one, you know, this goes to the whole question of are trade wars easy to win? the president imposed the tariffs on steel with all of those consequences. look at the midwest and between the failure to bring back manufacturing jobs and the rather significant hit that the farmers are taking from the tariffs, you have real problems throughout the upper midwest. >> quickly, before we go, charlie, let's say the president puts in place some sort of tax cut. maybe a payroll tax cut. can republicans get onboard? you know that will blow another hole in the already ballooning deficit. >> well, i think at this point they'll get on board in anything

the vice president spoke to leaders monday one day before wo from u.s. steel that it will temporarily lay off hundreds of workers at the state's great lakes facility. natalie brand, cbs news, the white house. >>> the president is calling for the federal reserve to slash interest rates by a full percentage point. the fed would normally only consider this during a recession. >>> the 49ers defeated the broncos last night but jimmy garoppolo appeared shaky in his first game since suffering a season ending knee injury last september. he spoke to reporters this morning. >> it's something i haven't done in a year, obviously. i've got to knock off the rust. thankfully, we have a short week and i will bounce back quickly and it's the first step of getting back into it. >> his first pass was knocked down and his second was intercepted and a third was tipped. the fourth attempt was blocked. the 49ers play the chiefs on saturday night. >>> as more students go back to class today, our special back- to-school coverage continues in fremont. >> the school district is moving a

. >>> u.s. steel is where we begin tonight's market focus with the company sayin it plans to layoff nearly 200 workers at a michigan plant because of low prices and softd dem for steel. the steelmaker says that the lay-offs will affect employees in nearly every area of the facility and it could lastix beyond months. shares were down a fraction today to 12.31. >>> medtronics saw an increase in demand for its surgical instrument d andbetes devices, which helped the company top wall street estimates. the medical device maker also raised itsfu -year outlook. stock rose more than 2% today to 106.91. >>> madison square garden posted a wider than expected loss and it fell short of expectations. the entertainment and sports operator was ht by increased personnel costs and expenses connected to a proposed spin-off of the company's spos business. shares dropped nearly 9%oday to 267.33. >>> cigna is reportedly seeking a sale of its group benefits insurance business, which could be worth nearly b $6lion. reuters

these duties part of a retaliation to u.s. steelnum. >> the tariffs are the biggest thinec affng us. we ants mate ticipate bottom li beffected throu q2. >> reporter: the ceo, the owner of the jack daniels brand, emphasizing the impact during ale european tariffs costs them more than $125 million.g >> it is havn impact on investment here in the u.s. it is havingn impact on great american brand. >> reporter: the trade group for the u.s. distilleray san escalation of the trade dispute could impact as many as 78,000 jobs. it is ending a 20-year whiskey boom for u.s. producers. >> since 1997, 1998, the u.s. and europe has really enjoyed free trade with distilled spirits, prompting 300% growth for american whiskey to europe. >> reporter: scott harris, owner of a distillery, was banking on the row bost marketbohen he ht labels and bottles to meet eu regulations. they can't be used domestically and he says it is impossible to replace the 11% of sales he m in europe. >> the tariffs in 2018 pretty much decimated that we ended up with zero. >>

revitalized on his watch, the tariffs on foreign steel imports he put in place last year have devastated u.s. steelwhich has lost nearly $6 billion in value since. that has meant temporarily laying off about 200 workers at this facility near detroit. >> o'donnell: paula joins us from the white house tonight. and paula, what about that phone call between the president and the head of the n.r.a.? i know they've spoken frequently. >> reporter: norah, the white house confirms the two men spoke today but denies the president has ever supported universal background checks. in the wake of these recent shootings, the president has repeatedly called for meaningful checks, but in the oval office earlier today, he said he believed the current checks are "very strong," suggesting that now he doesn't believe there need to be additional measures. but norah, we've seen this before in the wake of high- profile shootings where the president signals he may pressure congress to act and then backs off. >> o'donnell: all right, paula reid with that new information. thank you. we've also got newly released body cam vide

industry has been revitalized the tariffs on steel imports he put in place last year devastated u.s. steelvalue since. that meant laying off about 200 workers at this facility in detroit. >> nine months after president trump declared victory over the islamic state in syria and iraq they have regrouped and are launching deadly attacks around the world. secretary of state mike pompeo says it is complicated. >> fighters in syria taking an oath of allegiance to isis and vowing to fight on. nearly six months after the fall of the last pocket of terrory that made up their so-called caliphate. a propaganda video. >> we said the caliphate is gone and there is always a risk of a resurgence. >> isis solidified their capabilities in aircrairaq and resurging in syria. the report says isis has between 14,000 to 18,000 members in iraq and syria and the opportunity to recruit more from among tens of thousands of refugees living in poorly guarded camps. the u.s. has 5,200 troops in iraq and nearly 1,000 in syria where the top commander for the middle east general frank mckenzie told cbs news u.s. special

u.s. that's also imposed tariffs on imports of european steel and aluminum the e.u. has responded in kind of the trumpet administration says it's considering imposing tariffs on european cars arguing that e.u. tariffs on imports from the u.s. higher overall than the other way around frank spartina interprets the u.s. position as in a nacho negotiate or out i would not necessarily call president trump protectionist stick he is quite willing to use tariffs and other economic sanctions and methods. to achieve his goals but his stated goal is to create a level playing field and he himself actually offered to eliminate all tariffs between europe and the u.s. . says he wants to revive heavy industry in the u.s. and lose domestic steel production and car sales by slapping tariffs on imports is business reasonable strategy prices have gone up in the us prices are always going to go up when tariffs go up and interest in only enough when a tariff has imposed domestic producers also are able to raise their prices for the economy at large there's rarely evidence that tariffs like

galvanized wage growth and really seen an explosion in manufacturing this country that's focused on u.s. steels. autos, and even unions have peeled away that support from the democratic party and the democrats were caught totally flat-footed in 2016 and now they are playing defense of their own rust belt. on the border, trump has protected the american worker from cheap labor that drives those wages down and steals american jobs and the democrats have decided to side with foreign workers and against the american worker and the american worker does not like that. trump's focus on american energy independence, energy dominance. talking about reestablishing drilling and exploitation for natural gas and reemerging: west virginia. what the democrats have done, the democrats have said okay, we are going to get rid of coal and oil and gas and that would destroy the u.s. economy. you have to give trump some credit but you also have to blame the democrats. >> juan: let me quickly rebut it. >> jesse: you can't do it quickly. >> juan: in the midterms, the democrats won. they won by saying we stand for yo

. >>> u.s. steelmporarily laying off about 200 workers at its michigan plant as the steel industry continues to falter. the company notified the state earlier this month there would be job losses at this facility near detroit. a slowdown in demand from europe and u.s. manufacturing has resulted in these plant closures. in 2018, president trump placed a 25% tariff on steel imports, but the resulting rise in steel prices proved to be short lived. and it turns out the white house may be worried about the economy after all. white house officials are considering a payroll tax cut in an effort to stimulate the economy even though the president is trying to paint a rosy picture, saying this about the economy over the weekend. >> the united statesel, right now, has the hottest economy anywhere in the world. >> i want to bring in john delaney, a 2020 presidential candidate, a former congressman from maryland and he was the youngest ceo on the new york stock exchange when he took his first company public at the

seen major trade flow changes in this period then >> we've seen a drop in imports into the u.s some of the steel that was going to the u.s. is washing into europ europe >> and commodity complexes have come under pressure in light of the market price action we've had, are you forecasting a rebound in the second half of the year assuming that the trade talk narrative stabilizes? >> we're bearish we are going through a major risk off exercise that is hitting all of the risk assets and commodities. we think it's too early to talk about trade resolution we think it's more likely to happen next year, the election year in the u.s. so the answer is no. we're particularly bearish on copper and iron ore for the second half. >> okay. excellent. very directional view there. thank you very much for coming in >> thank you >>> coming up on the show, we'll talk about fixed income. ten-year bund yields fall deeper into negative territory but how much lower can european sovereign bonds go mi unee scuss that and mor congp xt standard of care. it's how we care for our patients- like job. his team at ctca treated hi

and they think we should have cyber command defend u.s. steel or the banks. but if you go and talk to the banks and say do you really want to hand over your defense to cyber commit, they are horrified at the thought, they don't want the u.s. government running around, the u.s. government does not know anything about government banks. this is a very complicated thing. there is nothing in the government like it. they're not running a parking, they don't have the expertise. expertise is in short supply. highly qualified people are in short supply. so we think the panacea of having cyber defense defend us, they'll have to defend themselves. they can get help, outsource security, there are many securities that will come in and run the security of your network if you can't support yourself. if you put your network in the cloud, amazon will do a good job securing it or many securities provided to do that. what recent government should do is to a level playing for real by having a smart regulation, that doesn't mean the regulation that exists, the screw has been cour

. >>> plus the inside story of hundreds of workers being laid off at u.s. steellace on background checks, hear the talking point showing how the nra got to him. new place to explore. jill has entresto, a heart failure pill that helped keep people alive and out of the hospital. don't take entresto if pregnant; it can cause harm or death to an unborn baby. don't take entresto with an ace inhibitor or aliskiren or if you've had angioedema with an ace or arb. the most serious side effects are angioedema, low blood pressure, kidney problems, or high blood potassium. ask your doctor about entresto. where to next? >>> stunning images out of brazil where the amazon rain forest is burning at a record rate. keep in mind 20% of the atmosphere's oxygen comes from there and scientists say it is key to slowing global warming. the fires have been burning for weeks. we just want to call your attention to what is happening there in brazil. i'm brooke baldwin. thanks for being with me. "the lead" with jake tapper starts right now. >>> president trump looks to the sky and declares

u.s. steelf 200 workers as it haults production at one of the michigan facilities in the coming weeks. joining us now, cnbc's dominick chu. >> this is the great lakes facility in michigan. the job reductions will affect less than 200 people. but u.s. steel says the layoffs could last longer than six months. the company has been dealing with lower steel prices and less demand from the bigger customers like automakers and also farm equipment makers as well. it has been a big turn since president trump first put on the taxes for imported steel. it did help though boost the price of american made steel but then the shares of many of these american steel makers are steady declines over the course of the past few months and years here because of worries about falling demand. the on going trade war already taking its toll on american consumers as well. president trump acknowledged that possibility which is why he delayed the tariffs on certain items until december. but now america's biggest home improv

u.s. steel now, all of them, the steel industry is back. they are all expanding. it's doing great. we are opening up mines in minnesota, the great state of minnesota, they have magnificent mines that have the best iron ore in the world and president obama closed them down. [boos] maybe we can get representative omar from minnesota to open up but i don't think so. [boos] she will open them up, i don'tbu think so. representative omar. that's a no-no. that's another one. we are replacing nafta with a brand-new usmca. that's mexico and canada. [cheers and applause] great deal. the usmca will create countless jobs for farmers, manufacturers, all across the state. we need congress to pass the usmca immediately. we will make it a bipartisan deal here and we don't need any more credit. the union's benefit, the nonunion's benefit, everybody benefits. it brings it back to fairness and it makes it very hard for our company is leave our countries, go to mexico or canada. we lose all of our jobs. we lose all of our taxes. we end up with empty factories and plants. it makes it almost impossible

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the u.s. steeling lost and the fact that this economy is not working for millions of americans. it is that cruelty and it is the bizarre side hoe that is the real challenge. i'm confident the american people will replace donald trump so we can bring this divided country back together again and meet the real challenges that we have. >> first, guns. after backing away from background checks in recent days, the president made a number of conflicting statements about whether he supports him. let's listen and then you can respond. >> oh, i have an appetite for background checks. we're working with republicans, with democrats. we have very strong background checks. we're dealing with republicans, with the nra, we're dealing with gun owners, we're dealing with everybody. and i think we'll have something hopefully meaningful. >> so he went on to say that he had sboen the nra's wayne lapierre, expressing concern that background would be a slippery slope. what do you think would happen? >> i think the preside

"the new york times" reports companies that trump has pointed to assigns of strength, such as u.s. steel weaknesses, idling workers and slowing down production. according to the "times," blue collar job growth has fallen to its lowest level since mr. trump took office. and key surveys of manufacturing activity are near recession levels. while economic growth which mr. trump promised would soar as high as 5% or 6% annually is now running at 2% annualized pace. >>> and reports of impeachment continues to grow. lauren underwood with her latest statement writes in part, the mueller report gave us a lot of information but it left open a lot of key questions that house committees are investigating. i have long stated that i support the impeachment-related investigation by chairman nadler. the american people deserve all of the facts and full transparency. the congresswoman who represents an illinois swing district becomes the 126th democrat to call for trump's impeachment according to nbc news' tally. >>> trump now claims he had nothing do do with it -- watch this. >> that's a decision of isra

u.s. steel is shedding jobs.re are indicators in the stock market the sales of rvs are trending down. there are all sorts of indicators that there could be a recession and it could be a harm on what the president feels is his strongest argument for another four years at the white house. we will likely hear from the president today. he's welcoming the president of romania to the white house for the second time since june of 2017. reporters will almost certainly ask him about this. we'll see what he says, kate. >> great to see you. thank you. joining me now is diane swamp, a chief economist at grant thornten. thanks for being here. what do you think, if it's something we are debating, what do you think of a payroll tax cut? smart idea right now? >> i think it's something you do want to have if the economy facilitiers. i'm not sure you should do it right now. it is something we've used in the past and you would want to limit it by income strat is so that low and middle income households get it. that said, it's a lit

whether it's ag or steel, u.s. steellared a 70% drop in their market value as a result of these tariffs. >> you know what struck me about the clip you showed of trump, he looks depressed instead of demoralalized. yeah, i always have second thoughts. why not? his economists have told him privately we're slowing down and at some risk of toppling into a recession. his political people told him his numbers are going down, not up. the base play he made with native rhetoric and elijah couplings on the floor, did you not work out? and asked the people to loyal to israel. that didn't work well. he sees back economic news coming and bad political news coming and he's a demoralized guy. >> i don't see it at all. he hates being there. >> that is what i was going to say. >> you give him too much credit. he hates being at these meetings. he doesn't like the dynamics going on there. he sees the entire array of those folks by and large, except boris johnson -- >> he hates being in the white house, he hates being in meetings, he hates g

in june, u.s. steel announced it reduced production in two plants in large part because of trump's tariffs. but that's okay, right? >> i love trucks of all types. even when i was a little boy at 4 years old, my mother would say you love trucks. i do. >> you'd be hard pressed to find any 4-year-old who doesn't love trucks, but generally the fascination wears off. if you really loving trucks and truckers that much, you probably wouldn't take away their tax deduction of daily expenses. and then veterans choice. >> i came back to my people. i had experts and said i have a great idea. these lines for the veterans are too long. let's let them go outside, go to a private doctor. i said man, am i smart. >> okay. pro tip. watch out for people who say, man, am i smart. but it is a good idea. so good, in fact, it was a bill cosponsored by john mccain and signed into law by president obama back in 2014. but that hasn't stopped president trump from repeating it more than 80 times according to cnn's intrepid fact chec