Good to see you. Youve still got, what, 50, 60 House Democratic members who came from republican and trump districts who understand the power of usmca, and in fact, to some extent if they are going to think they are going to go off the ledge, on some crazy idea of impeachment, which is doomed to failure, they might even be more inclined to do something constructive on the u. S. Canadian mexican trade deal. David but nancy pelosi says they will be able to work something out on usmca. Listen. Were moving ahead on the u. S. Mexico canada agreement. Were again hoping to be on a continuing path to that. David amid the noise, do you think we can see sustained Economic Growth and progrowth legislation . Im not sure that the first requires the second. And thankfully it does not. Weve had growth. We continue to have growth. Mainly because of the u. S. Consumer benefitting from great job market, higher wages and all the rest of the things we have talked about on this panel because nobody else is talking about it. So hurray for the consumer. Look, i think it is absolutely essential for democrats to show that they can legislate and govern in addition to harassing President Trump. Thats not how they view it. They view this as governing. I think a lot of americans will disagree with that. It would behoove them to bring usmca to the table, to the floor for a vote, get it done, because the senate is ready and willing to move it forward and guess what . It really is good for farmers. Its good for americans. It should be done. Lets be clear, the next 12 months is going to be six plus committees, going after impeachment on the president. I suspect not much is going to get done, very little, maybe a usmca. Theyve got a spending bill they need to get passed, but anything of real importance, longterm importance is going to be tabled right now. There is simply one goal, and that is to win an election next november and the democrats think they do it by taking this man down. They may be right. They could be wrong, willing to risk everything for it. It is a good political strategy to say the democrats being the party of impeachment and antitrump and getting nothing done legislatively. The reality is no matter how many bills the house passes its already passed four dozen plus mcconnell and the Republican Senate dont want to act on them. There is a chance they would act on Prescription Drug prices because theres a good degree of both republican and democratic support for that. In general these parties and houses of congress now controlled by different parties are in different places when it comes to legislation. It does help the narrative. It is not an accurate one entirely. The house has been trying to pass some legislation. Theres no legislation for the most part that can be passed. Oversight is part of their responsibility, but passing legislation is, and look, lets look at history. Two impeachments essentially in the 20th century, nixon and clinton, and during the clinton era, the markets soared. The nasdaq was up 60 during the nixon era, the market was down. A lot of that has to do with the policies the government had enacted, much more restricted during the nixon era, much freer than the clinton era. They better legislate because what you are seeing is individual investors, wealthy investors, Big Companies hoard cash because of this indecision. Yes, have oversight, but move the business of this country forward so people can make money. David to your point, jonathan, during the clinton administration, they had a very significant cut in the Capital Gains tax. They also redid our whole Welfare Program in the lead up to the impeachment. You can get things done. And banking deregulation, david. David banking deregulation, absolutely. Look at the situation now. You have 50 to 60 democrats. I think 64 is the number who come from red states, who come from districts that went for donald trump. Liz, i would just think that they are going to go back to their voters. Theyre going to have to say look, you paid me 170,000 a year to do something. They are going to have to bring something to the table when they go home to try to get reelected. Of course, they are. By the way, impeachment is not popular, not in those districts. David [inaudible]. Exactly, this is not something that will win them a lot of favors. Yeah, the democrats are passing a lot of bills, even if you are in the majority, you can pass a lot of things that are unpopular with the senate and it is not going to happen. Those are showboats. Were talking about legislating for things that good for the country and might get through the senate and the usmca is definitely on that list. The venom has never been like this before. At least back in clinton, the democrats and republicans liked each other, talked to each other. David wait a minute. There was impeachment going on. You dont impeach somebody that you like. I understand that. Business is business. Family is family. All im saying right now you can see the hate and the venom in the eyes of both sides of the aisle right now. Thats my worry that because of that, they dont care about the people right now. They care about doing what they are doing, front and center, and the media is carrying the water for it. So again i dont think much is going to get done this year, and by the way, and this is to zach, it takes two to tango when it comes to legislation. Im sure you know that. I think for the Prescription Drug prices still has a pretty good chance of something happening because it is such it cross cuts every par tlty li and thats something that affects tens of millions of voters. Charles grassley has been leading this on the republican side in addition to the usmca. I think you could have something there. For someone like jonathan and the more libertarian republicans, government is doing nothing i would assume an optimal outcome. The problem is when it comes to things like trade, government has inserted itself. You have millions of people literally waiting to find out, unable to make any type of business deals because they are waiting to find out the next move. David gary you said that the usmca is a small thing. I dont think it is a small thing at all, not for the farmers in the midwest or north dakota. They think it is a big thing and might give us leverage to get something done with china. We already have good trade with mexico and canada right now. This just adjusts it some, to the better, so i dont think it is the end all be all. For me the end all be all right now on trade will be china to get rid of these darn tariffs that the taxpayer had to take take 28 billion of our tax dollars. David you are teasing up another segment for us. We will have a lot more on that, plus a businessman who has a personal gripe against the chai naez. Chinese. We will hear his story coming up. Lets get to Hillary Vaughan on capitol hill. The acting director of national intel, joseph maguire, fascinating time today on congress. This guy is a real hero, a navy seal. Tell us what happened. David, late breaking, the president this morning is calling the cia officer that blew the whistle on his phone call with the ukrainian president , a spy. The l. A. Times this afternoon up with a story and audio from a private event in new york where the president criticized the whistleblower for going off second hand information. Basically that person never saw the call, never saw the call, heard something and decided that he or she [inaudible]. I want to know who is the person who gave the whistleblower information. The New York Times reports the whistleblower is a male cia officer who was assigned to the white house, and the top democrat of the House Intelligence Committee wants to hear from him now. Adam schiff saysst the says it is time to take the next step and investigate, calling the whistleblowers complaint a road map. Were obviously going to be bringing the whistleblower in, and the director committed to having the whistleblower come in as soon as the issues are resolved, but i have no idea that this Justice Department led by this attorney general will investigate anything, except the president s adversaries. Democrats drilled the director over delaying the complaint, saying he had a deadline of seven days and he did not deliver, but maguire pushed back saying his job is to pass the complaint on to congress, and they are supposed to decide what they do with it. There is an allegation of a cover up. Im sure an investigation and before this committee might lead credence or disprove that, but right now all we have is an allegation, an allegation from second hand information from a whistleblower. I have no knowledge of whether or not that is true and accurate statement. House republicans accused the democrats of essentially trotting the out whistleblower complaint into a public live hearing for their own political advantage, to drum up support for their impeachment hearing proceedings. But the senate, which also talked with the dni director, joe maguire, talked to him behind closed doors. The house chose to do it very publicly. David . David fascinating stuff. Thank you very much. Amid all of this, President Trump announcing a new timetable for a china trade deal. A manufacturing ceo Paul Wellborn sat down with the president. Hes going to join us next to tell us what they talked about and why he is making a 4 billion dollars case against beijing. They want to make a deal. Do you know why they want to make a deal . Because they are losing their jobs and because their supply chain is going to hell. And companies are moving out of china. All Money Managers might seem the same, but some give their clients cookie cutter portfolios. Fisher investments tailors portfolios to your goals and needs. Some only call when they have something to sell. Fisher calls regularly so you stay informed. And while some advisors are happy to earn commissions whether you do well or not. Fisher investments fees are structured so we do better when you do better. Maybe thats why most of our clients come from other Money Managers. Fisher investments. Clearly better money management. Performance comes in lots of flavors. dramatic orchestra theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. Why accept it frompt an incompyour allergy pills . E else. Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief ever since you brought me home, that day. Ive been plotting to destroy you. Sizing you up. Calculating your every move. You think this is love . This is a billion years of tiger dna just ready to pounce. And if you have the wrong Home Insurance coverage, you could be coughing up the cash for this. So get allstate and be better protected from mayhem, like meow. We picked up trillions of dollars and they have lost trillions of dollars. And they want to make a deal very badly. It could happen. Could happen. It could happen sooner than you think. David sooner than you think, markets still moving more on China Matters than they are on impeachment worries. Good news on trade makes markets go up. While president saying yesterday that the a china trade deal could happen sooner than you think. There are still many contentious issues holding up a deal. Our next guest say has one of them he had a chance to discuss his 4 billion dollars trade case against china with the president , the ceo of wellborn manufacturing, Paul Wellborn. Great to see you. Thank you for coming in, paul. Briefly tell us your story and your gripe with china and why you support the president s tough stance. To start with, the kitchen business has been attacked or targeted by the chinese, and as you know, when they do their dumping. Dumping is a term where they sell. It might cost them 150 to make a cabinet and they will sell it for 50 here. Our customers in the past year or two have been targeted also by direct sales from china, and something has to be done. If we dont, were going to close our plants and lose our jobs. David you support the president s tough stance on tariffs. I certainly do. We are seeing some plus from it, but we also have an antidumping case that will certainly help out. Mr. Wellborn, two things, one theres a degree to which this whole impeachment inquiry probably does make a china deal more likely. The second thing is competitors often try to undercut. Chinese are not the first to do it. The Furniture Industry which you are a part of was initially very vibrant in the northeast in the United States and then was radically undercut by Southern Furniture manufacturers, decades upon decades ago. I dont know if what the chinese are doing is anything different than any new entrant into an established industry has done in the past. I would say that the difference would be that the government is furnishing the money to the chinese which they probably own anyway and they will do whatever it takes. David they are getting subsidized by the government for undercutting you . With plywood, 80 of the cost of making plywood. The prices are below the the early costs. They can buy logs and lumber from over here, do it there, send it back for 50 when it would be 150. Thats illegal dumping. Interesting, a lot of that same government subsidy occurred in the 80s by the japanese as well, didnt help that economy longterm. But sir, i want to ask you thank you for being with us by the way. Thank you. These tariffs have not helped the steel industry. Theres been layoffs in steel. They havent helped the farmers. Already two bailouts for the farmers. The farmer bailouts have been bigger than the auto bailouts. What makes you think it will help your business which as zachary alluded has been struggling from some inherent and systematic effects perhaps even bigger than competition from china . If you look at say the furniture companies, i know john basset and you can read his books and what happened to them, when they were targeted and you saw communities close down, just decimate. We dont need that to happen. Many of the Cabinet Companies in this country are in small cities throughout in many states and that would hurt the local communities and the total cost of that to the communities, the stores, the banks is not good for those local communities. What response, if any, have you gotten from the chinese . Have they backed off a little bit or raised their prices . Have they responded at all . My impression there are Many Companies in this lawsuit which is pretty powerful therefore and also presumably getting help from our government. Whats been their response . The chinese . Well, i think that what were beginning to see little bit, they are backing off some, but i think they are seeing some sales coming in. Not a great deal yet. That could happen, but we havent had any direct response except our Customer Base is losing a lot of business. They are being undercut by 50 in the last few years. They tell us its a couple more years and it wont be turned around in the cabinet industry. We just dont need this to happen. We need something done. Theres laws to protect the american jobs and antidumping and we need something done about this and give us a fair level Playing Field and we will win. We have competed against all the Cabinet Companies in this country. This is gary kaltbaum. I wanted to ask you, it says here you have a 4 billion dollars trade case. Who exactly do you file that with . And what are your expectations to come from it . The american Kitchen Cabinet association, its a group that over 50 manufacturers that filed a case back in march. And we expect duties hopefully to be close what maybe the plywood. If they looked at this carefully, i think they are w k working on it, what they think the duty should be added to the cabinets. David we have to go, paul. Can you tell me your prediction in terms of whether or not we work out a trade deal that would be accept to believe the country and to acceptable to the country and to you in particular . I think longterm the trade deal hopefully necessarily wouldnt just cover the cabinet business because i dont know how the trade deal could do that. If it can, thats fine. But we have to level that Playing Field. I like what our President Trump is doing. Hes working hard on saving jobs. I believe he cares about people. I really admire that, what hes doing. David we hope you do well in your case. We appreciate you coming in to talk to us about it. Let us know what happens. All right . Thank you, good to see you. David the census finding income inequality is at a new high but does it matter if wages are going up as well . We will debate that, coming next. You only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Im working to make connections of a different kind. Adp helps canyon ranch place the right people in the right jobs, so employees like dave can achieve what theyre working for. 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