Transcripts For FBC Mornings With Maria Bartiromo 20240714 :

Transcripts For FBC Mornings With Maria Bartiromo 20240714

Healthcare and ill legal illeg. Raise your hand if your government plan would provide coverage for undocumented immigrants. [ cheering and applause ] maria there you go. Weve got highlights, the low lights and President Trumps reaction as well. Markets this morning look like this. Futures pointing toward a higher opening this morning, dow futures up 86 points right now, a third of a percent, s p futures up 7, and the nasdaq futures higher by 11. Yesterday the s p closed higher with snapping a four day losing streak. The s p and the nasdaq were higher but the dow was down 10 points at the close yesterday. Nasdaq up a 57 points at 4 00 on wall street. For the month of june, the markets are all sharply higher. The dow on pace for the best june since 1938. Actually as the president told us just the other day. European indices look like this, take a look at the gains across the board, fq100 up 19, cac up 12, dax up 52. In asia overnight, markets were down as investors away President Trumps meeting with president xijinping. As you see, fractional losses, shanghai composite down twothirds of 1 . All those stories coming up this friday morning. Joining me to break it down, dagen mcdowell, the brewer group ceo, former investment banker, former nfl star, jack brewer is here. Former president ial candidate, former arkansas governor, Mike Huckabee great to see you, everybody. I checked my pulse to make sure i lived through the debate and i did and im happy to be here. Dagen you should be happy. Your heart should be racing if youre a republican because what in the heck happened to the Democratic Party. I said this all along. These candidates are going to move so far left during these primary debates and the election contest, that in a general, i dont know how you run providing healthcare for Illegal Immigrants, millions of Illegal Immigrants in this country rather than thinking about the people who are here legally. You think about the people sitting around their kitchen tables and theyre not saying boy i really hope we can get good healthcare for all the people who are here illegally. They want good healthcare for their families. It was ridiculous. Maria a lot to talk about. Good op ed in the journal, grim lizzy, kim strassel calls it. Dagen Kamala Harris ran rough shod over joe biden last night. Maria lets look at it all. President trump is at the g20 meeting while this was going on last night. The president met with russian president Vladimir Putin as the markets looked for the trade meeting between chinese president xijinping and the president tomorrow. Blake berman is in osaka right now, hes got the very latest. Good evening to you in japan, blake. Reporter good evening. Good morning to you back there in the states, maria. It was a handful of bilateral meetings right off the bat today for President Trump on the sidelines of the first day of the g20 meetings and that included with the russian president , Vladimir Putin. The first time those two have met in about a years time, 11 andahalf months since the helsinki summit in july of last summer and the president right before their meeting, before the media was asked about russian meddling. Youve got to listen closely. Here was that exchange. Watch. Mr. President , will you [ indiscernible ] reporter that was the exchange. It is 7 00 here meantime in japan tonight which means that tomorrow President Trump will sit down and meet with the chinese leader, xijinping. According to a senior chinese negotiator, the chinese president will indeed ask for the ban on huawei to be removed and for tariffs against china to be lifted. That negotiator telling fox business, quote, as for huawei, the u. S. Should correct this wrongdoing of illegitimately attacking foreign businesses. President trump was asked about the meeting tomorrow and he dismissed reports that there could be a truce regarding tariffs. A lot of people are talking about it and its very interesting and its going to come out hopefully well for both countries and ultimately it will work out. Have you told china you wouldnt put new tariffs on. No, i havent. No. Good question. No. Reporter so we look ahead to that meeting tomorrow between President Trump and president xi of china but also keep in mind there are other meetings as well and that includes with the saudi crown prince, President Trump will meet with the crown prince tomorrow morning for breakfast, the issue of russia expected to be at the forefront there. Maria thank you so much. Reporter i said russia. I meant iran, of course, between the u. S. And saudi arabia. Maria i see what youre saying. The meeting with the crown prince of saudi arabia focuses on iran. Reporter . Ke reporter yes, exactly. Maria joining us now, john hilsenrath. Good morning to you. What struck as far as the debates last night or headlines coming out of osaka, whats striking you this morning . Im focused on the talks between President Trump and president xi of china. Theres a lot at stake. I think its clear at this point that the idea of a big breakthrough, a deal happening right now is pretty low. Its striking to me that going into the meeting, the chinese are basically raising their demands by putting huawei on the table and saying that we have to remove our export bans on huawei for them to do a deal. So theyre basically increasing their demands going into this conversation. I think the best that we can expect for the two sides is to agree to Start Talking again. They stopped talking in april when the u. S. Felt that the chinese balked at what they agreed on. Maybe they Start Talking again. Maybe they set a deadline to reach a deal later in the year. Maria the president , when he joined me earlier this week, was not backing down at all. When i said look, do you have a plan b if plan a doesnt work out in terms of a deal with china. He said yeah, plan b is plan a and that is tariffs. And he said by the way, it doesnt have to be 25 . He threw in lets do 10 . So hes already thinking about how hes going to approach this 3 325 billion in remaining goods coming in from china and saying look, i no problem with 10 . I think its clear at this point that this president likes tariffs. He thinks it hits back at americas trade competitors. And he sees it as a source of revenue for the u. S. Government. He says all the time, this is bringing in tens of billions, hundreds of billions of dollars into the u. S. Treasury. I think that his point of view is that his fallback plan is something that he likes, which is increasing tariffs. Maria i know you dont love this, dagen, but you know, bottom line is the president of china comes in last night with all of these demands, lift the ban on huawei, take away punitive tariffs. I didnt think that was going to go well with President Trump. Dagen theyre using his negotiating tactics. You take the hardest position possible. I said this yesterday, it seems like china is saying to the u. S. , this is square one. Were starting all over again. John, to your point, the president loves to brag about the money coming into the u. S. Treasury. Lets say what this is. Its a consumption tax or valueadded tax that falls on American Companies or importers here and on consumers. After watching the debate last night, thats something you would expect out of the mouths of a democrat. Its interesting, watching these debates and listening to this talk about the president taltalking about trade. There isnt a totally free market candidate in this 2020 election. At least when youre looking at trade, this president is not a free market guy. He bodies a agree with he woulddisagree with you on the question of who would get taxed when tariffs are imposed. He would say tariffs are hitting the chinese, theres a lot of disagreement about that among economists. I think what happens really is when we put tariffs on, it feeds lieu through a across the supply chain. Some of it might hit chinese producers. Some of it does feed into u. S. Consumers. Maria ive got to push back on that, to say that the president is not a free market guy, yes, tariffs or no tariffs, he has been showing real free market policies and he wants to see competition as well as lower taxes move through this economy. So, yes, youre right, he likes tariffs but to say hes not a free market, ive got to push back on that. On trade, i dont think on trade, i dont see how you could argue that, because we have taken a very aggressive stance on putting up barriers for trade. Dagen the president hes anxious to go after europe next. He says europe is worse than china. I think were missing the point. Why does he use tariffs . Its the only tool he has to stop the unfair trading practices. Dagen thats not necessarily true. We could argue for days and weeks and months and years about that, governor. I think hes a free trader. I think he believes that america has been getting the shortened of the stick and hes going to use the stick against the people who cheated and robbed us and made it hard for us and theyve done nothing in terms of Environmental Concerns but were having to pay the price. Maria with china, he could have done something to zte and maybe huawei sooner. Dagen you raised this issue with him, you could have stayed in the tpp, could have locked arms with all of your other allies. Maria it would have been a disaster, he said. Dagen even some republicans say it wouldnt have been a disaster and would have helped us take on china with the rest of asia. It was designed to take the power away from china. John, the president , if he wants to get reelected next year, hes counting on a Strong Economy and right now based on a lot of measures it is still incredibly l healthy. But he seems to be counting on the Federal Reserve to, like, step into the fray and help the economy out with monetary stimulus as he fights these trade battles. Maria so is the market. Youre expecting a cut in july, right . The president was tweeting last night on the g20 and he was actually tweeting on the democratic debate, a short time ago he writes this, i am in japan at g20 representing our country well but i heard it was not a good day for sleepy joe or crazy bernie. One is exhausted. The other is nuts. So whats the big deal . The 2020 hopefuls weighing in on the economy, taxes and even trade. Lets take a look. People who have healthcare under medicare for all will have no premiums, no deductibles, no copayments, no outofpocket expenses, yes. They will pay more in taxes but less in healthcare for what they get. Donald trump thinks wall street built america. Ordinary middle class americans built america. Donald trump has put us in a horrible situation. We do have enormous income inequality and the one thing i agree on is we can make massive cuts in the 1. 6 trillion in tax loop holes out there and i would be going about eliminating Donald Trumps tax cuts for the wealthy. I am proposeing that we change the tax code, so for every family that is making less than 100,000 a year, they will receive a tax credit that they can collect 500 a month which will make all the difference between those families being able to get through the end of the month with dignity and support or not and on day one i will repeal that tax bill that benefits the top 1 and the biggest corporations of america. America duffs not want to america does not want to witness a food fight. If you look at what china is doing, theyre using technology for the perfection of dictatorship. Their fundamental economic model isnt going to change because of tariffs. Tariffs are taxes. Americans are going to pay on average 800 more a year because of these tariffs. Maria john, there it is, right there for all to see. Your reaction . Well, a few things. First of all, i think its going to be very difficult for the democrats to make a lot of ground on this president on the economy because the economy is doing pretty well. I mean, we have an Unemployment Rate under 4 . As long as that Unemployment Rate is under 4 , a lot of people are benefiting from this economy and its going to be a tough road ironically, the president has been you attacking the fed for keeping Interest Rates too high. If you listen to what jay powell, the fed chairman says, his interests are really aligned with the president s interests on the economy right now. What he says is that his primary goal is to sustain this expansion, to keep the expansion going. And really if the president wants to get reelected, thats exactly what he needs. He needs to to keep the economy growing and keep the Unemployment Rate under 4 . Maria can any of these candidates keep this going . Can any of these candidates keep this economic bounce going. Dagen actually, a lot of their plan for, say, giving Health Insurance to all Illegal Immigrants in this country, it is built on a Strong Economy because you cant pay for it if you dont have a Strong Economy. Maria right. Do they have a plan to keep the economy strong . No. Dagen no. I mean, i think you have a fight between centrists and people on the left and thats what this is going to be about. Maria oh, yeah. And maria for sure. You have to wonder in an economy doing this well, do we need a radical remake of how it works. Maria good to see you, john. Have a good weekend. So. How are you feeling . On a scale of one to five . One to five . Its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry clive actually, really angry. Thank you. But what if your business could understand what your customers are feeling. And then do something about it. Turn problems into opportunities. Thanks drone. Customers into fanatics change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. But i can tell you Liberty Mutual customized my Car Insurance so i only pay for what i need. Oh no, no, no, no, no, no, no. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Maria welcome back. Huawei is under fire this morning. Nokia is warning of security risks from the Chinese Telecom company. New Research Finds that potential back doors in 55 of huawei devices. Huawei technologys chief Technology Officer andy purdy was answering my question about back doors yesterday. He said the company would be open to testing for back doors. Watch this. The data in terms of our dealing with customers, the Telecom Operators control the data. We dont control the data. We dont own the equipment. Maria unless there are back doors. We have evidence that there are in fact back doors. We are open to objective testing, veig verify and facts,e know what products are worthy of trust. Maria there is evidence of back doors from italy to africa and nokia is complaining about it. Apple is increasing iphone production because of the ban on huawei. Last year, huawei shipped 100 Million Units. Huawei is an incredible threat to the u. S. Tech sector. Thats what we keep hearing. Huawei says were not really doing that and were open to having you inspect. That doesnt mean theyre going to do it. Theyre just open to it. Come on. What scares me so much about it, their footprint and access to so many emerging markets, places where you mentioned africa, you mentioned india and other places where people just dont have a lot of options. Theyre going to pour their technology in and the chinese have had their claws in those parts of the world for a couple decades now. Maria huawei put the infrastructure throughout africa, in many cases for free. All of a sudden, legislators and officials in ethiopia find all these back doors where all the data is going back to headquarters in beijing. Same thing happened for vodophone, an executive found back doors in the huawei infrastructure in italy and so this morning weve got nokia complaining about the same thing. Dagen what was the story yesterday about huawei employees doing work for the communist government and huawei tries to disavow that. Maria the military, yeah. Dagen the communist government and the military, its inex tricably linked with this company. What about developed nations, our allies, if you want to have a Good Relationship with us, this is what secretary pompeo has been talking about to you and pushing for months and months and months that you have to play ball and we are all going to take on huawei together. The democrats are more worried about the russians doing a few facebook ads than they are about the kind of incredibly, deeply embedded technology spying thats going on from china. I just dont understand why the disconnect is there. Maria much more serious threat. Imagine if a democrat wins the election, how theyre going to face china and huawei right now. Can you imagine having them across the negotiating table with huawei. It would be a disgrace. Dagen some of the danger with the democrats is whatever President Trump does is just wrong and thats injury it puts the United States in danger. Maria thats spoton. Coming up, mateless craze. Well talk about that and more on the democratic debate, Kamala Harris taking on Vice President biden. Plus, big changes at apple, the design chief announcing his departure and massive recalls to tell you about. This is not a bed. Its a revolution in sleep. The sleep number 360 smart bed is on sale now during our lowest prices of the season. 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