Will be in black and white or scary. That is where we stand, down 169 points. Stuart said this has more to do with the trade front. That things are not progressing. Chinese overnight, essentially getting nasty, it might be phase one and done if we get that. That is president is a little impulsive. Were not thinking well make progress for anything else getting done. President directly not responded to the criticism outside the fact hoped the deal would be scored although the chile conference it was supposed to scored and deal written on wont happen in chile. It will happen somewhere. They hope it happens pretty soon. Get the lead from John Layfield and rebecca waltzer. What do you make of how the chinese suddenly shifted ground here . I think that has more to do with the selloff and why 28 dow stocks are down than anything happening on the impeachment front, so far deemed much more political than substantive, what do you think . I think this is much more political. China is walking a very fine line realizing they have the with growth since 1992. Almost 30 years. They must do something about the president while he is president. They see what is going on. They may want to outrun him or live him so to speak. Phase one is moving forward. We have indications from china and President Trump and tweets and others phase one is looking like a deal. Im optimistic that this president is in it for the long haul, that it will happen. Neil John Layfield on the impeachment front thing, it is interesting that the vote was 232296, largely along partisan lines, that this isnt the process to impeachment. It is a mouthful but im surprised by the number, the 232 number. What did you think . I thought it was right along partisan lines, which it shouldnt be. Theyre arguing over process here. Nobody is arguing whether there is right or wrong. Very few people. They want to get the facts. Theyre arguing over the process here. 100 partisan vote right now which is a shameful for our congress to go through something as important as, so many implications to the United States as impeachment of a president and doing it along partisan lines. Neil looking at economic fallout, im not debating whether grounds of impeachment whether theyre fair or not, but if it drags on. Could lead, what steny hoyer was saying house number two democrat, last week, wrap this up before the christmas recess in the house, i assume he is talking about a impeachment vote. That lands this into early next year in middle of caucuses and primaries. You have six senators running for president right now, who would have to attend those trial hearings. What do you make of that . Im sorry. Neil i apologize. I wasnt clear. Rebecca, your thoughts on that . Thats okay. Obviously this is a very political process, although there should be due process as lawyer tell you the way it has been handled so far is awful. It is political, weve seen very few impeachments before but they have been more bipartisan if there is such a thing as bipartisan impeachment but the fact this is very political. The markets dont like uncertainty as we know. Shortterm traders make money on uncertainty, there are trades to be made, look as china situation as an example we need a pretty much that is strong and the country behind him. An impeachment process does not bode well for that particular thing. So, i think that you know, weve got to get this resolved and as fast as possible. Neil you know, jonathan, the other side of that is, an this trade thing, it delays the chinese even wanting to go, to something more involved and to get beyond phase one because technically we havent written off the phase one deal but theyre not quite sure of this impeachment thing goes. Were emersed in it here. All they know it is very confusing over there. Look at it from chinas point aside. I believe rebecca is right, theyre killing the clock. Look what President Trump promised for trade deal. Promised a manufacturing renaissance. We had manufacturing recession. He promised trade deficit would to down. It has gone up. He promised america would be more intigrated. Look with rpac which is trade deal including with india. China is becoming more intigrated. America is becoming more isolated. Losing the house in the last election. Look at impeachment process going on, promise of 4, 5, 6 gdp were growing two last year which is exactly what obama grew at from 2011 to 2017, china sees significant weakness in the United States in my opinion. I believe china will slow the clock, push it out as far as possible sensing something will happen with the president and theyre sensing blood in the water. Neil 28 of dow 30 component are off particularly apple with betterthanexpected Earnings Report and positive guidance yesterday. That stock up close to five bucks a share right now. Meantime, trade issues notwithstanding, maybe what telegraphs some chinese remarks overnight was comments made by secretary of state mike pompeo just yesterday. Take a look. Chinese Economist Party is offering its people in the world entire different governance. Leninist rule and everyone must act in the will of communist elite. That is not a future i want. I think it is not a future anyone in this room wants. It is not a future that other democracies want and it is not a future that the people of china, freedomloving people of china everywhere dont want this model. Neil some, at least speculated here, liz peek earlier on with maria bartiromo, that sort of was the opening salvo to which the chinese got a heads up, wanted to sort of respond. They did. Things are really nasty right now. Weve seen moments like this before. Again people are selling firsts asking questions whether the two sides come back together to resume talks a little bit later. Former ambassador to china under president barack obama gary locke. Ambassador, very good to have you. Thanks for taking the time. Good to be with you. Neil so, ambassador first off on what the chinese are now saying, lets say in response to what the secretary of state was, was relaying, that theyre not fair players. Theyre not straight shooters. And no trade agreement is going to quickly address or change that. What did you make of it . Well its true. China has a totally different cultural history and way of life and a very different political system. It is becoming more clear over the last several areas that under president xi xinping it is becoming more authoritarian and so these differences i think will continue. The question is whether or not the china, chinese leaders will compartmentalize the criticism by the United States and the world view about chinas politics and, culture, history, and still move forward with a trade deal. So im still hopeful that we will get some sort of a limited trade agreement over the next month or so. It will not be farreaching. But china also knows that it is in its own economic selfinterest to at least avoid the escalation of the trade war. The only problem is, that the agreement so far that has been announced, tentative agreement, simply calls for no further increases in the existing tariffs in exchange, china will resume purchases of some agricultural commodities. But for the average American Household, were still going to be stuck with these existing tariffs, unclear whether or not the tariffs that the president proposed for december will still go into effect. But the net result is, that the consensus by the business journals, newspapers, wall street journal, the new york fed, is that the American Household is paying on average over 1000 more per year with all these tariffs that are already in place. Neil do you think, if not for this trade war, we would be doing a lot better . The president has argued that we would be doing a heck of a lot better if the fed didnt raise rates as soon as quickly as it did. It unwound three of those rate hikes by cutting rates threetimes, third time this year, that mate be it for a while but that is contributing to this environment, what do you think . Well there are some things contributing to the slowdown of the economy, not just here in the United States but also worldwide which also affects the quon economy of the United States. A lot come back to tariffs we imposed not just on china but all over the world. I dont think tariffs are a good way to approach some of these Economic Issues. Legitimate Economic Issues that we have with china and many other countries. But, tariffs lead to a trade war and in a trade war there are no winners. There are only losers, losers on both sides, especially the consumers. Certainly the American Consumer is feeling that. Neil well the consumer has a funny way of showing it right . If they were really retrenching they would be not buying. If they were concerned would not having a aggressive Holiday Spending plan born out in some of these surveys. What do you think of that . Well, obviously the Consumer Spending is propping up and driving the u. S. Economy right now but reality is if you have 1000 less in your pocket, that is 1000 you could have spent on more purchases or vacations. Neil no i understand or retirement, thinks like that. Neil im trying to say if it was real mood dampener, they wouldnt plan increase spending tune of four to 5 last year. That might point out to your point maybe, but what do you make of that . That shows extreme resilience in the face of a lot of stuff, right . Obviously the u. S. Economy is still very, very strong. It is slowing down as some of your previous guests indicated. But Consumer Confidence is still pretty good and good thing. Otherwise the economy would be in much dire straits. Neil all right. Always a pleasure having you ambassador. Thanks for taking the time. Thank you. Neil in the meantime here, the house has gone fast as you heard already. The formal rules what would be a trump impeachment inquiry. It is not an inquiry vote as much as it is a process vote. The idea is to get the republicans involved but this is buy and large along partisan lines. Democrats like it. Think it is the right thing to do. Republicans dont, think it is the wrong thing to do. Stay with us. Neil if it does happen that way, it goes to senate, can you think of any of your republican colleagues right now who would go along . If it does get overhere obviously we have a responsibility under the constitution to hear the argument but i think the way this case was constructed, the way that the house has gone about it, is going to make it very, very difficult to see this as anything but a partisan play by democrats in the house who have always had in their hearts and minds a desire to try and impeach the president from the very first day he took office. Neil all right. And as he was kind of hinting at here, the very next day the house went ahead and improved this means which they can keep the impeachment process rolling here. It was along partisan lines here but 232 yeas for it. Hillary vaughn on capitol hill. The significance of that. Hillary. Reporter this means the impeachment inquiry is not winding down, it is ramping up. Two democrat voted against the resolution, setting ground rules for impeachment inquiry moving forward. Those two democrats, congressman Jeff Van Drew from new jersey and congressman Colin Peterson from minnesota. This vote happened after democrats have been conducting dozens of closed doors interviews in the basement of the capitol for weeks. This means democrats can bring witness interviews from the basement into public view in a public hearing. But we heard from a lot of House Republicans on the house floor today, that called this probe a soviet style sham. Are we gathered in the final moments before we depart for a week, to fund our government, to pay our troops . Are we gathered today to prove a new trade deal . That answer would be unanimously no. More subpoenas than laws. Thats the legacy. Reporter we heard two major issues, with republicans about these ground rules. First, it doesnt allow them the ability to subpoena witnesses. Second, that it doesnt give the president due process. Republicans also continued to complain their questions were shut down by adam schiff in the scif, something that House Speaker nancy pelosi addressed on the house floor saying it is not true. The decision has not been made. That is what the inquiry will investigate and then we can make the decision, based on the truth. I dont know why the republicans are afraid of the truth. Reporter also reacting to the vote saying in a statement this, nancy pelosi and democrats unhinged the illegitimate impeachment proceeding does not hurt President Trump t hurts the American People. They want to render a verdict without giving the administration to mount a defense. That is unfair, unconstitutional, fundamentally unamerican. Neil, just because House Democrats can hold public hearings, doesnt mean closeddoor depositions in the basement of the capitol are over. One is happening with Timothy Morrison who was answering questions from house impeachment investigators. Neil. Neil thank you very much, hillary vaughn. It is a great fundraising vehicle for the president. The Trump Campaign fundraising off of this has been off the charts, spearheading a lot of that effort, former Small BusinessAdministration Administrator under President Trump, linda mcmahon. She has superpac running ads in the districts highlighting impeachment. Good to have you. Hi, neil. Nice to be here. Neil this is rally is, can you tell you what youve seen . Our fundraising at america first, our superpac, when nancy pelosi announced that we were moving forward with this impeachment inquiry, the inquiry in the next seven days we raised 7 million. That is almost a Million Dollars a day. Neil versus what was it prior . Fraction of that. If you look at the last quarter what is going on with fundraising, with the rnc, with the, with the trump victory, with the Trump Campaign, they were like 45 million. It was more than they have seen in a quarter like that. It is really quite amazing how the base is rallying. In fact i think 300,000 new voters who came in and, donors who came in during that past quarter for the committees. So that, that speaks i think volumes to how people are rallying behind the president. Neil democrats are doing a lot of fundraising off of this. I get the politics part of it. Linda, i wonder where all of this goes . I still cant see the president getting impeached certainly in the senate. He might in the house given these numbers. This is like getting the ball rolling in that regard, but do you see this situation casts a pall on the president through the Election Year . Theyre going to say, democrats are going to say he is the impeached president . Well i think that is what theyre going to try to say. I certainly think we have a president who comes out swinging all the time. He is just, he is umdaunted by this kind of criticism. He attacks and charges because he knows he is in the right. It will clearly not put him down. Neil did he telegraph to you, this is draining me, nonstop . Whether it is nonstop, whether legit or not, did he ever hint to you or say, i cant deal with this . No. I think his frustration was were not getting done what we can get done. Look what he did do in spite of all of that . Look at where the economy is today. Look at where the jeb reports are . Wages increasing since he came on board. All positive things done under this president in spite of all this trying to pull him down. He keeps plowing through the frustration is, how much more could he have gotten done . How much further could we be along without all this hagging around his neck . Neil when you were working with him he would always criticize or often criticize the Federal Reserve, that it made things worse, tightening when it did. Reverse ad lot of hikes, three of them this year. The the Federal Reserve comes back, critics say if not for your trade war, uncertainty it caused we wouldnt be cutting right now. Who is to blame . I think the president clearly stood up, he ran on this, you know, getting a thank you trade deal with china because they have been picking our pockets for so long. He ran on that. He clearly stood up to it. What better time is there to challenge unfair trading partner when you do have a Strong Economy . I think that is what he has done. He stepped in. He kept at it. Well see where it goes. Neil do you worry, were hearing bellicose talk, almost like professional wrestling. Were hearing a lot of talk, well not go beyond phase one with you. We dont like it. Back and forth. Back and forth. It is one and done, phase one thing, nothing else . Phase one would clearly be improvement. I think there will be more than phase one. I want to see phase one get signed. I want to see the Agricultural Products moving into china. I want our financial people neil do you think the chinese make good on their promises . I certainly hope so. Im optimistic they will, because their economy is hurting so much. I think theyre trying to balance out where they are. There are those who would say, china can do a little wait and see game. Meantime their people are hurting so much. Their economy is clearly declining. You know with every day. So i think that neil factories are not going well. I think well see a lot happen over the next few months. I do not believe the president is going to be removed from office. What our polls have showed us, especially in the swing states is that, those polls do not want to see the president removed from office. And theyre underwater in those areas. I think it is going to be neil going to be interesting. A strong election. President trump will win again in 2020. Neil we hall see. Linda mcmahon. Food seeing you. Thank