John layfield, do you buy that . Shopping season and for i dont, no. Retailers, the get ready for i think the chinese are playing christmas stockpiling season. That doesnt mean there still chess and President Trump is wont be a deal. But increasing signs it might playing golf. I dont think its the same not be happening any time soon. Game. The chinese are killing the clock. Lets just say that things are i dont think were any closer getting nasty. So time for us to get going. Than last september. We hear that were having trade well have more from the deals imminent and the chinese have to make this trade deal. New York Stock Exchange where i dont think were any closer theyre feeling the heat and than a year ago. Other experts on the political i think the chinese are preparing for a long, long fight with this. Ramifications. Hi, grady. Our economy is good. We can wait it out as well, hi, neil. Happy friday. Which doesnt portend to an easy not a good day here or good decision off ramp for this trade week. Possibly one of the worst weeks war. Neil larry, im wondering with the chinese promising to dipped after the fed retaliate, what are they going announced the rate cut and dropped even more when President Trump tweeted about new tariffs to do . What do you think . On china yesterday and then that larry, can you hear me . Continued with todays selloff. Well, neil, im jump in. White house economic adviser larry kudlow explaining this the chinese will keep morning the president s decision stimulating the economy. They already have. To impose the tariffs after the theyre manipulating their u. S. Team met with chinese trade currencies, cutting taxes, propping up their economy making officials. Were looking forward to our dollar extremely strong. Meeting with the chinese team in thats causing our exports to be Early September and continuing very expensive. The negotiations. The issue here is when the team theyre manipulating their currency. Came back, ambassador lighthizer here in the u. S. , we dont do that. We shouldnt. And secretary mnuchin reported neil one of the things we lost larry. I hope to get him back. The potus. The president is not satisfied john, one of the things that has with the progress on the trade come up here, be careful what deal. You wish for. The tariffs set to start in the president plays tough and hes tough on this. You know, youre going to get about a month on 300 billion into the fall where the latest worth of goods from china. Waves of tariffs will affect basically everything that is not mostly consumer items. Already subject to a tariff. There wont be any industrial theres things that we buy all passthrough like you had with the time. The other tariffs that took like iphones, laptops, game longer to gel. Then youre doing it at a tough consoles and tvs and things you time of year. Get at the Grocery Store like the start of the fall, fall alcohol, condiments and spices. Buying season. Get ready for the holidays. And the markets like what do you think . I completely agree. Predictability. We got that in the jobs report. I think the president is tough u. S. Companies adding 164,000 talk. China has to be dealt with. Im not sure this is the right jobs in july. Job growth is slightly slowing way. Its tough talk. He has backed president xi in a an hourly wages increase by a corner that he cant come out little bit. But unemployment still near a of. Theres not an easy off ramp for 50year low at 3. 7 . President xi. We bailed out our farmers to the but none of that matters here tune of 28 billion. Contracts were losing to inside those walls where traders only had the tariffs on their brazil, were losing for the mind. It will be interesting to see foreseeable future. We wont get them back any time what happens when the marks monh soon. Farmers in the midwest which elected President Trump will start to have a slow patience will ebb on this. Thats when the political problem is going to manifest itself to the president. I think thats what china is hoping will happen, why theyre killing the clock. Neil larry, i apologize for some of the technical problems. John layfield pulled the cord. I dont know why he did that. Let me ask you, a lot of people think the Federal Reserve comes to the rescue and maybe that the Interest Rate cut this week is a sign of more to come. All the more so because of this. What do you think . Look, neil, the rate cuts help the economy and the consumer. The consumer is the strongest part of the gdp. With the new tariffs, enter new risks not just for the markets but also for the economy. Before it was hey, its not in trade war. If im not an aircraft exporter, i dont care. Now it is in my back yard. Im here in new england and i have to tell you, its on main street. From footwear to lobsters, its everywhere right now. Its showing up. Lobster sales to china be down 70 because of this trade issue. 70 of footwear that we wear is coming from china. This will affect families and the economy and the consumer, which is what is driving the u. S. Economy. So im not buying it. I think this is a real issue. Needs to get resolved to get back to the real economy, which is doing great. Neil i want to thank you all very much. Larry, i apologize for the technical snafu. Now we go to Mark Meredith in new jersey. The president will be spending the weekend there, maybe plotting his strategy, what to do next. Mark . Good afternoon, neil. The president will be making his way here to new jersey shortly for the weekend. Its what he was doing earlier today in washington that is getting a lot of attention. The president announcing this new deal that will allow u. S. Beef producers to sell more of their products to european consumers. The president was making this announcement within the last couple hours. He was there with his trade adviser as well as north dakota senator john hovan at his side. The president says the deal with the e. U. Will grant American Farmers and ranchers to more markets. This deal will increase dutyfree exports to the e. U. But 46 in one year alone. The agreement we signed today will lower trade barriers in europe and expand action says for American Farmers and ranchers. We love our farmers and ranchers. With this announcement, we take one more step in giving them the level Playing Field that they have looked to theyve looked forward to this for many years. You folks know that. They want a level Playing Field. Thats all they want. Nobody can beat them. Todays deal with europe comes a day after the president said he plans to announce additional tariffs on china. The president tweeting that he plans to impose an additional 10 on about 300 billion of chinese imports starting september 1. A little less into effect. A Foreign Ministry spokes certain said that china does not want to fight, but isnt afraid to either. The spokesperson went on to say that if the tariffs go through, china will have to take necessary Counter Measures to resolutely defend its core interests. The white house doesnt appear to be afraid of any possible retaliation. We heard from the president s economic adviser earlier today speaking with reporters saying the u. S. Economy remains strong and that he believes that u. S. Consumers will only see a minuscule impact if these tariffs continue to go back and forth between the u. S. And china, neil. Neil thanks, mark. Mark with the president this weekend. We should stipulate that a lot of retailers were feeling the heat and consumers would federal the heat. That was hurting all the ney youre big names, not surprisingly walmart and target. By extension, even amazon and dollar store. They were all feeling that. The president was addressing that just a few minutes ago at the white house. Lets take a look at the tape that is just coming in. [question inaudible] which process are you talking about . The confirmation process. Because i felt that congressman ratcliffe was being treated very unfairly. I read the press. I think i am a student of the press. I could see that the press was treating him very unfairly. Hes an outstanding man. I asked him, i said, do you want to go thrwo or three months or want me to maybe omething else . He thought about it. I said its going to be rough. I can see exactly where the press is going. Fake news. Hes a fine man. Hes a fine man. So we hadnt started the process. I thought its easier before we start. I read things that were just unfair. Hes just too good. He doesnt deserve it. [question inaudible] what . [question inaudible] that might be. I like sue gordon. Sue gordon is there now. I like her very much. Ive always liked sue gordon. [question inaudible] could be. Well make another choice. Sue will be shes there now and certainly she will be considered for the acting. That could happen. Well probably be talking about it either later today or next week. You like sue gordon . [question inaudible] no, i think he was just treated very badly, very harshly by the press. He really had a decision to make. You want to go through this for it could be months. I said i think i see exactly what theyre trying to do. Nobody understands the press. I think i understand them as well as anybody. I didnt think it was fair. [question inaudible] no, they didnt. I think he would have had support, but again we were very early in the process. We hadnt even started. So we were very early in the process. I think he would have had good support certainly from the republicans. [question inaudible] i havent seen that. The democrats were chilly. Thats for sure. But the republicans i think would have been very good. A lot of the republicans didnt even know john. So i think he would have good receptivity. He was getting that. I believe he made the right decision. [question inaudible] you understand . I [question inaudible] no, you vet for me. I like when you vet. The white house has a great vetting process. When you vet for me, i give a name, give it to the press and you vet for me. A lot of times you do a very good job. Not always. I think the if you looked at it, if you take a look at it, the vetting process for the white house is very good. Youre part of the vetting process, you know . I give out a name to the press and they vet for me. We save a lot of money that way. In the case of john, i believe that he was being treated very harshly and very unfairly. [question inaudible] no, ill tell you what, i thought he would have had very good support. The republicans love john ratcliffe. He would have had very good support. He wasnt in that world that much. I think he would have picked it up very quickly. I think he would have had great republican support. Probably no democrat support,o get some. But i think he would have done fine. It would have been a long, hard battle. [question inaudible] thats okay. I dont mind that. The tweet itself was just really a repeat of what i heard over the news. I know his house was robbed. I thought that was too bad. That was really just that was not meant as a wise guy tweet. His house was robbed. It came over the news at a certain moment last night. I had just mentioned it. [question inaudible] well, i think john, number 1 you have to understand, were so far behind. We have been treated so badly. I dont blame china. I blame our past leaders, our past president , our past trade representatives. Theyve done a terrible job. China we cant just go and make an even deal with china. We have to make a better deal with china. Right now they have a very unfair Playing Field. Im turning it around. So were getting 25 of 250 billion and now 10 of probably close to 350 billion. A lot of money. China has to do a lot of things to turn it around. Youll be seeing. They have to do a lot of things. It goes on september 1. Frankly, if they dont do them, i can always increase it very substantially. In other words, i can increase it if i wanted to a very much higher number. [question inaudible] well, its in a process right now. I know the case very well. Its a very sad situation. It is heartbreaking. Thats in a process right now. Im not going to get involved in the process. As you know, theyll be making a final decision over the next ten days. So i wont interfere with the process. [question inaudible] well, weve been moving it down. Weve been moving it down from syria. We defeated the isis caliphate. We have now 100 of that. We have 2,500 prisoners. Europe is going to have to take them or somebody will have to take them. But we have 2,500 isis prisoners. Weve told europe, hey, some come from france, some come from germany. Theyre going to have to take them. Well see what happens. Weve pretty much reduced weve taken it way down in syria. Ultimately its down to a very few people, if any. With respect to afghanistan, we made a lot of progress. Were talking. But weve also made a lot of progress. Were reducing it. Weve been there for 19 years. Were serving as policemen. We could win afghanistan in two days or three days or four days if we wanted. Im not looking to kill 10 million people. [question inaudible] what about it . [question inaudible] we can win that war very easily. I could win that war in a week if i wanted to. Im not looking to kill 10 million people. Okay . Many of them would be innocent people. Im not looking to do that. Im not talking nuclear, by the way. Im talking totally conventional. Im not looking to kill millions of people in afghanistan. [question inaudible] that i cant tell you. Well find out. [question inaudible] i hear hes done a good job. I dont know congressman hurd. We differ on certain subjects. I heard hes done a good job. Its too bad hes leaving. Really dont know him. [question inaudible] i do have a short list. I have a list of a few people. Were looking at very wellknown people. People where the vetting would go easily because thats what theyve been doing. Theyre in the intelligence world. So we do. I have a list of three people that im going to be working on over the weekend. Were going to bedminster. Ill be working on that over the weekend and monday ill give you an answer. I do like sue gordon very much as acting as per your question. [question inaudible] say again. [question inaudible] i think we real we have a lot of good people. We have three people specifically. I can tell you. I can tell you. Theyre right here. Who are they . Its too early. You want a piece of the list . [question inaudible] i dont want to say if they can be trusted or not. History id say is not so good. They dont like us much either. Weve brought them down. We brought the numbers of soldiers down substantially. Theyre coming down. Were talking to them. We have a lot of advantages making a deal with us. Were doing very well with pakistan. I met a gentleman that i liked a lot as you know last week from pakistan. I have a lot of respect for. A good friendship, a good feeling, a good chemistry. I think pakistan will help us and i think others will get involved. But weve been there 19 years. Were not really lets put it this way. Were more policemen than anything else. Thats not for our soldiers. I said it a lot. Millio people. Im not talking nuclear. Im not talking nuclear. We would win that war in less than a week. I have that as an option always. Thats what were not looking to do. [question inaudible] with russia, we have been speaking to russia about that, about a pact for nuclear. So that they get rid of some, we get rid of some. Probably have to put china in there. Right now were number 1, russia is number 2 and china is number 3. China is quite a bit down in terms of nuclear. Theyre much lower. We would certainly want to include china at some point. I would think that the relationship is good. Were trying to have a good relationship. Its very hard in light of the phony witch hunt, which is now dead. Ill say this with russia. If we could get a pact where they reduce and we reduce nuclear, that would be a great thing for the world. I do believe that will happen. We have discussed it. I also discussed it with china. I discussed it with president putin and with china. I will tell you, china was very, very excited about talking about it. So is russia. So i think well have a deal at some point. The particular pact youre talking about that expired as of today, they werent living up to their commitment. I said if theyre not going to live up to their commitment, then we have to we always have to be in the lead. You know, ive redone our nuclear. We have new nuclear coming. I hate to tell that to people because its devastating, but we always have to be in the lead. Hope to god you never have to use it. [question inaudible] we have new everything. We have the finest military in the world. We make the finest equipment in the world by far, whether its fighters, whether its missiles, whether its ships. Whether its submarines. Theres nobody to compete with us. If we could hold off spending by getting a pact with russia and with china, that would be very good for all three countries. [question inaudible] youre talking about the trade on beef . [question inaudible] the e. U. Is very tough to deal with. Theyre very difficult. They have barriers on beef. We broke that barrier today. I appreciate it. Its a group of countries as you know, we love those countries, but with dealing them, theyre very difficult. We did a very big deal today, beef. Well be selling them a big percentage of their beef. Thats great for our ranchers and farmers. We were happy to do it. [question inaudible] auto tariffs are never off the table. If they would not treat us fairly, which theyre not. Right now look, the e. U. Has tremendous barriers to us. But we just broke the first barrier. Maybe we broke it because of the fact that if i dont get what we want, ill put auto tariffs. Its all about the automobile and all about the tariffs. If i dont get what i want, ill have no choice but maybe to do that. But so far theyve been very good. I want to thank mexico, the numbers are way, way down apprehensions. The numbers are way down. Mexico, they have about 21,000. They now have maybe more than that on our border. They have another 6,000 on their northern border. Okay . The northern border. Near guatemala. Mexico is doing a great job. [question inaudible] i would love to see before we talk about secretary, i will tell you, i would love to see the democrats sit down and work out the loop holes in 20 minutes. Thats what it would take and work asylum fix, an asylum bill. Lindsey graham is heading it up. Well see what happens. [question inaudible] ill always help our farmers. Our farmers were targeted by china. Our farmers, theyre great patriots. Ill always help our farmers. There will be a big time when the biggest beneficiary of what were doing with china, youre seeing it with the e. U. They couldnt do the cattle things at all. Beef. They couldnt do it at all. Now all of a sudden this came out of nowhere. Our farmers will be the biggest beneficiaries. They know that. Theyre great patriots. [question inaudible] no, what happens is china