China and his attacks on the head of the federal reserve. On up, the latest on the health of the oldest Supreme Court justice. The latest on the impaeeachment debate. And we go to brazil where fires continue to ravage the amazon. With me in new york is matt welsh. Matt wiley, and gabe debenedetti. Also with us is kara lee in france covering the g7. Thats where i want to start this morning. Its 2 00 in the afternoon. President trump heads into meetings with other World Leaders more isolated than ever. A host of global challenges facing the president. Overnight iran claiming it test fired a new missile and north korea conducting its seventh Ballistic Missile test. The headline in the new yonew times reads World Leaders g7 expectations, a nice chat, some good wine, no unity with trump. As the Washington Post puts it as economic and political headwinds gather across the globe, leaders of the worlds major powers are bracing themselves for a different kind of turbulent force President Trump. Theres no bigger headwind than the u. S. china trade war which escalated yesterday. Look, china has been hurting our country for 30 years with the money theyve been taking out. Other president s should have done something about it and they should have done it a long time ago. Whether it was clinton, bush, obama, any of them. They should have done something about it. They didnt. Im doing it. I have no choice. Hes doing it with no choice. Lets turn toe kara lee first. The agenda that Emmanuel Macron and other leaders want to talk about verses what they have to talk about because of what happened here in the u. S. And President Trump over the recent days. Yeah. David, the overall theme of the summit is supposed to be this global inequality, the gap between the wealthy and poor. Thats not going to be what everyone is really talking about. You know, weve seen President Trump come into the summits and be a disruptor. Usually when you go to these summits, all the World Leaders, even if theyre not on agreement on things will try to put on a good face, agree where they can and paper over disagreements. Theyre not even trying to do that this time. The host of the summit, Emmanuel Macron of france, decided to do away with the communique, a document at the end of the summit thats usually boring but outlines various areas on which the leaders can agree. Theyre not trying to do that now because of the last summit in quebec, President Trump refused to sign on to that communique. Theyre coming into it acknowledging that they are not all on the same page and hoping, i guess, to try to agree in certain areas maybe or make headway on certain issues, namely the economy. The president yesterday with his moves on china really pushed that to the forefront. It was already going to be an issue. There are a number of leaders who are worried about the u. S. Trade war with china and how thats affecting their economies, particularly in europe where weve seen softening of those economies. Then you have a number of World Leaders worried about whether President Trump will slap them with tariffs on some of their goods. These threatened that with germany on cars, france on wines. Then you have iran and north korea and those issues. Overall it will be focussed on the economy. And then theres a number of side conversations that will happen individually with World Leaders. Then theres sort of these other Big National Security issues to deal with too. Carol talking about the worry that permeates that summit, mentioning the fact that the president decided not to do this communique. He said President Trump wont agree. Its pointless to do. There are moments like this yes, this annual summit, but also the g20, other moments when World Leaders get together. The role of this president , the role of the United States now comes into clearer focus. What does it tell you now . As you look and take stock in what carol was describing, the attacks on Jerome Powell what does it say to you about our role as a country, his role as a president in an International Forum like this. What hes done is said as a world leader im actually going to back the United States out of its traditional relationships with its allies. You know, he did that when he started attacking natd t ining. He has done that remember in 2018 he pushed the g7 to readmit russia. Hes done it again, despite the fact weve had both our Intelligence Community and now Robert Mueller saying, you know, there was more than 100 contracts between the Trump Campaign and russia, and plenty of reasons why all of our allies including the United States would not want russia in. As you said, to attack our own institutions and compare them negotiaatively literally to the premier of china. So hes weakened the influence of the United States globally, despite the fact we are one of the worlds most powerful nations, thats creating a National Security concern. I want to say one other thing thats important with regard to the fact that this was going to focus not just on the economy, but on inequality. That is actually a National Security concern. Its a global National Security concern, which is one of the reasons why you have to have conversations about it. One thing that trump about this week is suggest he would punish allies like france and germany by sending isis terrorists to their countries. Thats the way he has tried to create relationships globally. That is not good for the country or for the world. Matt welch, the conversation about the importance of the institutions like the g7, g8, g20, has gone on for decades. When you look at his approach to this, what does it say to you about the integrity of a Multilateral Institution like this, if hes going to come in and upend it, theres a gap between the rich and poor but also a gap between President Trumps america and the rest of the world. Theres a rising nationalist ti tide between the richest countries and the poorest countries, and Boris Johnson is there talking about brexit, if theyre going to have one at all. That tide doesnt like Multilateral Institutions. Doesnt like the world trade organization, sees that as a scam by which china secretly steals our money in front of us rather than this is the way we can impose at least some rules on the way they conduct their behavior. They dont see it that way. So this is what it says. We have a president that doesnt really have respect for that. Im old enough to remember when conservatives used to criticize a democratic president for being mean to our allies, keeping allies at bay and supporting they better not bring that up again for a generation. Sit one out. Take a knee. This president really has every kind of criticism that you saw against barack obama by conservatives for the most part, this president not only has embodied but has tripled down on. Carol lee this has been a krus thing that you have written about. Recent years, allies have become frenemies. How has the president s inability to get along with other World Leaders, to broker the kind of relationships that have bolstered the International Community in the past. If you look at the way President Trump approached, say, german chancellor Angela Merkel, he was critical of her during her campaign, that continued once he took office. There wasnt an attempt to forge a relationship there. At the last g7 summit in canada afterwards he was sharply critical of the Prime Minister trudeau, after that summit we saw Emmanuel Macron try to have this bromance with the president , he tried to forge a friendship with him, thats the language in which he felt he speaks, that is what is important to him. That fell apart. He couldnt get him to come around on the iran deal. The president withdrew from that. He withdrew from the paris climate accord, Prime Minister abe is another one, theres been rounds of golf, a sumo wrestling tournament, he tried to forge a relationship with President Trump, that has not paid dividends for him either. Now everyone is focusing on the great relationship between the new Prime Minister of the uk and President Trump and their friendship, theres a lot of underlying issues in which they disagree. It remains to be seen whether that will be something they can move forward with as well. Carol lee, thank you very much. Appreciate the update. Still ahead, the Supreme Court cancer scare that is worrying liberals. But first a twitter tantrum tanks markets and catches the president s own advisers off guard. Off guard. Chantix is proven to help you quit. With chantix you can keep smoking at first and ease into quitting. Chantix reduces the urge so when the day arrives, youll be more ready to kiss cigarettes goodbye. When you try to quit smoking, with or without chantix, you may have nicotine withdrawal symptoms. Stop chantix and get help right away if you have changes in behavior or thinking, aggression, hostility, depressed mood, suicidal thoughts or actions, seizures, new or worse heart or blood vessel problems, sleepwalking, or lifethreatening allergic and skin reactions. Decrease alcohol use. Use caution driving or operating machinery. Tell your doctor if youve had Mental Health problems. The most common side effect is nausea. Quit smoking slow turkey. Talk to your doctor about chantix. 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There is a bit of reprieve here this afternoon before a working dinner takes place tonight. If we hear anything, well bring that to you live. After he attacked the chairman of the federal reserve, the president watched the dow jones drop precipitously yesterday and then ordered more tariffs. He tweeted that on october 1, 2 250 billion worth of goods wil be taxed, as he put it, at 30 , thats up from 25 . And in eight days tariffs will increase from 10 to 15 on 3 30 billion worth of chinese products. This month the dal has faow has more than 4 . Ron insana joins us now. How much of this is directly attributable to what the president did yesterday. We were concerned about the Global Economy, the u. S. s role in the Global Economy. What changed yesterday . Well, when jay powell was speaking at the feds annual symposium in jackson hole, he hold out the possibility of an interrate red Interest Rate reduction to combat against Global Economy, then the president was out tweeting about tariffs, and thats when the market tanked and continued lower. The president during his tweet warning that he would later in the day impose further sanctions or tariffs on china. So the market sold off. The tweets after the market closes what will happen with these tariffs, then you get an official press release from the u. S. Trade representative, which is just reprising what the president tweeted and saying as soon as possible more detail will be given as a result of this. I want to know if well have this trade war on christmas. There was a delay that the president imposed. The delay of the second round of tariffs seems still to be scheduled for december 15th. The tariffs already in place will go up as he said on october 1st from 25 to 30 . Then those other tariffs on some goods will start on october 1st, on others december 15th. Particularly those that will likely to be christmas gifts. Lets go back to southwest france, this impromptu lunch taking place. Lets hear what these two have to say. The Global Economy, our differences and fix the situation in terms of trade, because i think if we can fix a great part of the world, this is very important as well. And how to find new ways to relearn. I look at europe, we need new tools for the economy and new tax cuts. And third the digital world, how to frame this new world, obviously climate and environment is a big topic. We know the divergences in climate, but we need solutions, and i think in our conversations we will see some solutions. Thanks again, mr. President , for taking this time, being here, and being a part of this. This institution will be important in the lives of france and very important and were always happy to have you here. Thank you. Very nice of you. We look forward to it. We have a lot in common. Weve been friends for a long time. Every once in a while we go at it a little bit, not too much. We get along very well. We have a special relationship. We all remember the eiffel tower dinner, that was a good beginning. We have some really great things to talk about, and couldnt ask for Better Weather or a more beautiful location. Next year well be hosting in the United States, that will be very good. That will be great. So far so good. The weather is perfect. The guests have been fantastic. Everybody is getting along. Well accomplish a lot this weekend. Looking forward to it. Thank you for having me. Thank you, donald. Thank you very much. A little bit hard to hear there. Let me go through my notes. We had the french president meeting with the u. S. President. A lot of talk from Emmanuel Macron about the economy, needing to find new tools for the economy. He talked a bit about tax cuts, climate notably, something on the ajegenda at the g7. And you heard him say he and the president of the United States have a lot in common. Gabe, the president of the United States remembering fondly the dinner they had together at the eiffel tower. What do you make of their relationship at this point . They placed faith and optimism early on. Where does it stand at this point . The u. S. President said they have a lot in common he didnt just say that. He said the weather is very nice. Thats true. The reality is there are few World Leaders with which President Trump has had a solid steady relationship. Macron is someone who basically has tried hard not to play trump but tried to make sure hes in trumps good stead. His public statements have not always been positive about trump. You see someone pull trum noop th trump into this lunch. Get him in front of the cameras talking about how good friends they are. Macron is one who can talk to trump and get him not to have many outbursts. Do any of these people have confidence this will stick . Probably not. They are students of the last few g7 meetings, but its typical of International Relationships that everybody is trying to figure out their posture towards trump and no one has figured out a fulltime strategy. Its very minute by minute. Its a lot like Republican Leaders on capitol hill. Know one knows where they stand with the president. Thats how he likes it. Ron, let me ask you about what the french president wants to get out of this meeting. Hes talking about the Economic Issues hes worried about, mentioning taxes. Well talk with shannon in a bit about the looming trade war with europe. This is a fear they have as well, whats playing out with china could be happening in europe. Yesterday the president threatened to put tariffs on french wine because france is threatening to put taxes on u. S. Technology companies doing business there. The relationship may be more fraught. In addition to that, the president threatened to put tariffs on european and japanese autos by october, which would almost guarantee a global trade war. As it s the shg is, the actions yesterday almost guarantee well go into recession. If you look at europe, as you know well, europe has negative yielding bonds. In other words, their bonds, if youre going to lend youre paying them to lend the money. Theres 16 trillion worth of negative yielding government bonds, mostly in europe and japan. Were running