tv Varney Company FOX Business June 30, 2017 9:00am-12:01pm EDT
who cut on government spending and when it comes to it, they're spineless and never have backbone and never have the gumption and cuts to cut entitlements. >> i'm looking to rob portman on that one. maria: mary, dagen, mitch, have a great weekend. stuart, take it away. stuart: indeed. the president issued a crude attack on a news anchor and it hurt his standing and i think it hurt his growth agenda. good friday, everyone. many republicans left washington. back home they'll catch an earful of obamacare reform and inevitably the presidential tweet. the president's opponents will have a feed day. mitch mcconnell hoped to have a health bill today. it has yet to appear. already divided, the tweet will not help bring republicans together. voters do not approve of the
president's use of his twitter account. 71% believe his tweets hurt his agenda and by the way, this poll was taken before yesterday's tweet. all right, now what? donald trump is not well, mika brzezinski and joe wrote that as well and that's as a result of the presidential tweet. they canceled their vacations and no tweets yet about morning joe from the president. let's get to the markets, big selloff yesterday. as interest rates were rising and concentrated in big tech stocks. we've got a modest bounce for the overall market first thing this morning. reality check, investors want the growth agenda. so do voters. but the president's tweets get in the way. "varney & company" is about to begin. ♪
i made a bold prediction, by the end of this month, the price of gas in a half dozen states will be below $2 a gallon. as of now, there are five states averaging below $2 a gallon. that would be south carolina, oake, alabama, mississippi and missouri. ashley: one more, stu. stuart: one more to go, i'm saying six states below $2 by this week. tennessee at $2 even. i'm going to win. i think i'm going to be right. i said six states under $2 by tomorrow. said it several times. i'm predicting gas price as of today, june 30th, six below $2 a gallon as we go into the july 4th holiday. let's see how i did. because today is friday, june 30thment right now, oh, dear, five states, south carolina ks oklahoma, alabama, mississippi,
tennessee. missouri and arkansas are on the edge, $2 a gallon. technically i got it wrong. five states below $2 rather than six, but you know what? liz, i'm going to claim a moral victory. liz: you are? >> will you get me do that. liz: sure. stuart: average regular 2.23 per gallon down a half cent, mo more than that overnight. speaking of cheap gas, a buck 7 p 4, that's in tuscaloosa, alabama. we thank you for that picture, cheap gas. markets slightly higher open after yesterday's big triple digit loss. and they took it on the chin, only two of the techs, alphabet and microsoft show any gain at all. in both cases, it's fractional. we'll have the opening of the market in 26 minutes. better profits.
better sales at nike and nike confirmed it will sell shoes on amazon, a big boost. the stock is up 5 1/2%. a very big gain. blue apron their shares closed out at $10, i think it was $10.01 yesterday. virtually unchanged from the offering price. they'll be up this morning to 10.20. the parent company of smith & wesson the gun maker, they've got a new name. and they're down 20% in the past year and down another 9% this morning. now, what's going on here? well, we've got sharply higher interest rates this week and that does not help stocks. the yield on the all-important 10-year treasury 2.28 as of now, on monday, 2.13. back to that fox poll. listen to this, watch this, please, 71% say president trump's tweets are hurtful to
his agenda and that poll was taken before yesterday's tweet about mika brzezinski. who is with us? judge jeanine pirro is here. the judge was gasping, was not happy on my introduction because i'm coming down on president trump for that tweet. are you going to defend him? >> look, i wasn't gasping, number one. number two, i love your energy, okay? [laughter] >> in awe of your energy annen your ability to predict the cost of gas. the president has been taking had a hit by joe and mika for a long time. i think your poll, 71% wish he wouldn't tweet, let's recognize his social media is what 100 million people. everyone is listening to him. that's one of the reasons he got elected. the mainstream media was off on this election, they didn't predict it and i think they're off on most things. president hit back, in a sense, there are so many good things happening with kate's law and you know, immigration and
health care, you know, the optimism that people were starting to have for health care. you know-- >> he gave the media an opportunity to forget about that good stuff. >> i understand that and as far as i'm concerned, i think his focusing on the issues are important, but at the same time you've got a media that's holding his bloody head, you've got people killing him and people cheering. there's lawlessness in this country and this president is doing exactly what we elected him to do and he's following through on his agenda. you know what? if he makes a hit against them. i've spoken to him about them and the truth is they've asked for this, that and the other thing and you know, they want-- ma i'm not going in the specifics. now they want to trash him, come on! . stuart: how about this as a discussion, you can't take the president's twitter away from him, that's how he communicates to the people. >> he jumps over the mainstream media. stuart: very successfully in the past. how about this suggestion,
don't -- have somebody like ivanka who vets every single tweet. >> she'd have to be with him at 3:00 in the morning. come on. [laughter] >> i said at the top of the show that the president's tweet yesterday in particular, interferes with his growth agenda. >> without a doubt. stuart: i doubt that you're going to argue with me on that. >> no, i agree with you. susan rice testifying before the house intelligence, testifying in public, i'm sure they'd arrange a deal so she didn't have to. this is really important. stuart: i said at the top of the show, by the way, that the president-- that tweets from the president on morning joe, not seen one now this morning. i stand corrected, this is what he said just moments ago. watched low rated #morningjoe for the first time in long time, fake news. he called to stop a national
enquirer article, i said no. he's back at it. >> he called him to stop a national enquirer article, they keep asking for favors. this is a personal relationship and probably trash-- >> this is the president of the united states of america, should not be indulging the juvenile exchange with these media people. >> and agreeing with you in that regard, but at some point it has to stop. i wish he would overlook the whole thing. stuart: it hasn't stopped, he's done it again. >> the truth is, there are people cheering him on and won't admit it to you or me. stuart: who? >> a lot of people are glad that the president is not taking it, you know, lying down. stuart: it's a tiny fraction. it's a tiny minority. >> we'll see. stuart: i haven't heard anybody publicly say-- >> nobody's going to publicly say, you don't want anyone commenting on a woman's appearance. whether it's her hair, her, you know, her size of her dress, that's just not acceptable. stuart: you know it. >> i know, and i like him and
what i do know is that this is a man who respects women. i've seen him with women. i've known him 30 years, all right. for him to do that is something that must have really gotten to him. stuart: okay, judge. >> first amendment, whatever. stuart: i want to thank you for being on the show. we called on you at short notice. >> that's okay, i was down the hall. stuart: if you're not careful, we'll do it again. [laughter]. thank you, judge, seriously. new medical breakthrough could be the end to flu shots. patch it on your arm, works as well as as any shot would. it's completely painless. i wonder if it could be transferred to vaccines as well. liz: yes, and other diseases. that's a breakthrough. backlash against the push for higher minimum wage. restaurants in maine working to lower the minimum. they think that higher wage means fewer hours worked and
>> all right. that, what you're seeing on your screen is a problem for the stock market. that is the 10-year treasury yield. very high for this week. 2.28. it was 2.13 on monday. when it goes up like that, the stock market is not happy. the chip maker micron, strong demand for cloud services and for smartphone makers. thank you reports on health, president trump tweeting this, if republican senators are unable to pass on what they're working on now, they should immediately repeal and replace it at a later date.
judge jeanine pirro is system with us. that satisfies the conservatives and another run at it later. >> if it's not going to pass, it's not going to pass. there's no point this calling it until there's agreement. my concern is these republicans have to get behind the president, enough of this nonsense, okay? i get. i was elected, i get that you want to respond to your constituents and be accountable to them and do what they want. at some point are you going to allow obamacare to absolutely destroy the country, destroy, you know, people who don't have insurance at this point, and people don't understand, when they say that fewer people are going to be insured, it's because they don't mandate that you get insurance, so my 27-year-old is not going to be mandated to buy it. stuart: well said. i've been saying for a long time do something because something is better than nothing on health care. are you with me on this? >> absolutely. stuart: really? >> i am. stuart: not people are. most conservatives say you're an idiot, varney, what do you
know about this? >> i know that the american people elected this president to repeal and replace obamacarement i know that we have the house, senate and the white house and i know that this is something that we all want to do, all right, so everybody get in line and just do it. stuart: wow, yeah, agreement at long last, judge. you've got energy, i've got energy. >> did you have coffee this morning? >> a gallon and a half. [laughter] >> judge, you're all right. >> thank you. stuart: thank you for being with us. good stuff. now, this, defense secretary mattis, he says the obama team pulled troops out of afghanistan too quickly. watch this. >> he may have pulled our troops out too rapidly, reduced numbers too rapidly. but the difference today is that the afghan army is actually able to carry the fight. stuart: all right. pete is here, u.s. army veteran. do you think that that kind of statement means that we're going back to war in the middle east? >> it means we're finally serious about what we're doing in the middle east. the reality is the surge in
afghanistan was a fake surge and told the enemy when we're going to leave at the same time. it's supposed to strike fear. i was there in 2012, i saw an afghan army that was not ready. i want to take general mattis at his word that they're more capable now. the taliban has been taken advantage over the government and i don't think we would be wise to pour a lot of chips into afghanistan at this point. it's about mitigating downside and preventing a haven for terrorists, but we're not going to change that country or nation build. we'll be fighting for a long time. >> we have been. the two administrations, especially the obama administration in afghanistan. and we should put more pressure on pakistan which fuels the haven for them. >> here it is, crime and killings in chicago have
reached such epidemic proportions that i am sending in federal help. 1,714 shootings in chicago this year, exclamation point, you say? >> he said he's going to do it and he's going to do it. some places in chicago feel like a war zone. and those people deserve better. if you don't give people a safe environment, a school to go to and an opportunity, then there's a setback. and you invest in those places and the president said he would do in the inner cities, and chicago-- >> chicago is virtually bust. they're on the brink of insolvency, and it could go to junk bond status today. illinois and chicago not able to take care of themselves. >> they're more obsessed with policical policically correct, and immigration status, sanctuary
city status instead of enforcing the law. stuart: with all the very serious things going on and what on earth are we talking about. >> it's shoeiwing you how far te left has gone. stuart: i'm referring to the tweet. >> oh that tweet is reaction to the data out of chicago. stuart: that tweet on chicago. i'm talking about the tweet about mika brzezinski. >> say what you want, the man fights back and people. appreciate a republican that will finally fight. [laughter] >> the judge is just-- >> i can't talk now, i'm drinking my water. liz: cool down. [laughter] >> stay there, drink your water. check futures, where are we going to open? it's going to be about 12 minutes away. we're going to be up 30-odd points, but that nasdaq, home of the techs, down again at the opening bell. an outrageous story from san francisco. the city may have to pay a big settlement to an illegal
immigrant who was arrested by immigration agents. that illegal immigrant claims san francisco violated its own sanctuary city ordinance. can you believe this? we'll be back. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock.
it is. if republican senators are unable to pass what they're working on now, they should immediately repeal and then replace at a later date. senator pat toomey, republican, pennsylvania joins us on the phone now. mr. senator ttwo other senators, ben sass and rand paul are for this divided in two, act now and act again later and both are pushing for more white house involvement in the process. do you think that this brings it forward, makes it less-- more likely to happen? >> the irony of this, stuart, this was the original plan. the original plan was to pass a clean, complete repeal bill, that would go into effect at a date in the future, it might be 24 months from now, might be 36 months from now and give us the time to then do the replacement in a whole series of bills and regulatory changes. there are some in our republican conference, some senators who refuse to go along with that strategy, said we
have to do it all at once and that's why we've been wrapped around the axle since. >> are you fine with that? >> i'd be fine with that. i don't think we've got the votes in the senate to do it. stuart: you don't think there are votes in the senate to do it that way, repeal now and replace later. you don't think the votes are there. >> i don't think we'd get to 50 votes if that were on the floor. stuart: what would be the problem? would the problem be, if you do it now, you leave people high and dry? >> you wouldn't do that anyway. you would have to delay-- it would be unreasonable to pull out the rug for people who are much going under the law and there's a product that they can't afford and are in the middle of this, it wouldn't be reasonable to punish those people. what we would do is have the repeal go into effect at some date in the future, and give us the time in the meantime, to
develop the alternative. but i just-- >> i'm sorry. >> i don't think we've got 50 votes. stuart: you don't think you have he 50 votes for that, repeal. >> correct. stuart: the repeal is sometime in the future and the second part is sometime after that, you couldn't get 50 votes for that? >> i don't think we could, stuart. that was the original plan and we departed from the original plan because we didn't have 50 votes for it. stuart: okay. senator, look, thank you very much. >> i'm okay with pursuing it and maybe the fact we've gotten into this dilemma would change people's minds about that approach, but i'm not sure that it would. stuart: okay. senator, look, thanks very much for joining us this morning. it's a big deal and we appreciate you being with us. >> could i make one other point, stuart. there's talk not repealing the 3.8% tax on investment income on top of the existing taxes on it, that would be a really bad idea. that's part of obamacare, part of what's holding back our economy, we promised this.
stuart: what a complex situation. but senator toomey, appreciate it. >> thanks for having me, stuart. stuart: we're going to go up a little bit at the opening bell at after the big drop yesterday. we'll bring you the opening of the stock market in one minute. introducing new parodontax. the toothpaste that helps prevent bleeding gums. if you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. help stop the journey of gum disease. try new parodontax toothpaste. ♪
we are 16 seconds from the the race at the beginning. 21,371, one loser among the dow 30 and bottom right-hand corner and that's mcdonald's. now we're up virtually 100 points. how about, yeah, 100 points, there we go. the s&p 500 nice gain, a third of a percent. 9 points, 2429. the nasdaq, this has take be a tumble recently.
technology has taken it on the chin. we're up 1/3 of 1%. that's 21 points up. big tech names, look at them. dropped very sharply over the past few days, now, a modest rebound. i'm not going to characterize this as a big comeback, far from it, facebook's at 151. amazon 979, et cetera, et cetera, fractional gains all of them. nike, big gain, 6% higher. strong numbers and it has confirmed it's got a deal with amazon to sell its shoes. no gain for blue apron on its first day. where is it now? exactly where it opened. $10, oh, 10.03. no gain, no loss. that's blue apron. all right, friday morning, june 30th, who is with me, liz macdonald, scott shellady and jeff sica. i want to start with politics. scott, the president's tweet yesterday, does it hurt the market? >> no, i don't think so.
i think congress hurts the market. i think the rest of america watching congress continually throw up on themselves hurts the market. these are grown gentlemen. this tweet, is it a distraction? maybe, i don't want to call it, but at the end of the day, they need to get something done. and i heard the senator you had on, and i was as surprised as you. let's talk about this, what do we have the votes for, why do we have 50 votes from and go from there? this is now beginning to be a little bit of a grandstand, be careful what you wish for. if these guys can't get their act together, they should be put out to pasture. stuart: it's exasperating. jeff, the tweet yesterday, did it hurt the market? >> here is how it hurts the market. investors don't care who got a bad facelift and who didn't.
there's rhetoric with tax cuts, regulation, health care, and for the president to be spending time watching these people and commenting on what they say, he should be only commenting on what affects american people. >> you're so right. lizzie, come in, please. what's your point on the tweets. liz: i'm wondering how this is going to affect brexit, when the vatican is going to weigh in and the imf and u.n. is about to gavel it in. stuart: do point out to our good viewers that you're joking. liz: i am joking, footnote. stuart: that's very good. to bring in an element of levity in a situation like this. well done indeed. liz: do i think it's sexist and cruel? yes. is it bad, it's a threat for mika and joe, and alleging he'll sic the national enquirer on them.
but the president, start tweeting about his agenda. stuart: well said, let's move on. let's look at interest rates. that's a problem for the market this week. right now we've got the yield on 10-year treasury, 2.27. it's up from 2.13 on monday of this week, so, jeff, why are interest rates going up like this? >> well, the first thing investors have to realize is this market has been fueled by suppressed interest rates. interest rates are moving up in the anticipation that this stimulus policy is going to eventually end. and when they move up as abruptly as they have recently, there's an anticipation it could end quicker than people think. the reason it's important is because investors have to realize the higher interest rates are going to make it much more difficult for the markets to move forward. >> and janet yellen said she expects no new financial crises in our lifetimes. wait a second. when we saw rates go up. we had john williams at the fed say three or four hikes. we saw that in the 90's, the
debt load of asia and russia and latin america toppled them over and you had regime change in brazil and argentina. so this is the only black swan event you can worry about, as interest rates go up, emerging market debt craters those economies and you have possible regime change. i'm not saying it will happen, but we've seen it in the '90s. stuart: you've successfully mochd us an i way from tweets. >> for what janet yellen said, for her to make that comment and see that far in the future to say we'll never have a financial crisis, i think that investors should be concerned one of the most powerful people in the world is taking like that, she has no reason to talk that way. stuart: and big tech, they hogged the market action and they were the big losers the now. facebook is down, not that bad.
amazon, alphabet, microsoft, apple, fractional gains. scott, would you buy any of them on this dip? >> you know what, stuart? it's not irrational exuberance. it's irrational ignorance. it doesn't mean we'll have a crash ahead or a car accident, but the flashers are on. keep some money back in your holster for better prices and i think that's going to happen. going forward, irrational ignorance takes over from exuberance. we need something to come in and support the market. the citigroup index, i'm the only one that brings it up, we're missing on economic expectations just like going back to 2012. things aren't good when it comes down to the brass tacks of the economy. stuart: real fast, jeff. are any of the big five at these levels attractive to you? >> keep in mind they were up 30% at their peak. so, this minor pullback is not enough. i've liked these stocks with the exception of apple, i like
the stocks, i think they're buyable, but certainly not here. stuart: keystone pipeline is in the news. the oil producers and refiners it was being built. they're not interested anymore. we've got so much oil we don't need the oil from the pipeline. >> the keystone pipeline is governed by the keystone kops. by the time we get something to do something, going back to the lawmakers, it's obsolete and ineffective. do something now. liz: when they applied back in 2008 oil was at $130 a barrel. remember, goldman sachs saying $200 a barrel. now it's at 45. they may not be able to recoup the investment, $3 billion in the pipeline if oil sticks here. stuart: i'm almost on the verge of saying, the left is right. please don't make me do that. liz: because they sat on it.
stuart: exactly. check that big board, nice gain, not bad. we were down sharply yesterday and we bounced back 88 points higher, 21376. micron gave a rosie forecast spurred by cloud services providers and smartphone makers. micron is no longer up, it's down a half percentage point. the parent of smith & wesson known now days as american outdoor brands, they gave a weak forecast. they're a gun company, we used to call president obama the greatest gun sales in the world. they ramped up production and trump won the election and they can't sell their inventory. going down 9% lower. nike a big winner, strong numbers and confirmed their deal with amazon. all right, jeff sica. nike is up 7%. would you buy it at 57? >> keep in mind, they bought --
fought this deal tooth and nail and want today own it on their own digital media, they gave in. the growth is so minor, i would not touch the stock here. the director consumer is working for nike, they're a little late on this one and i wouldn't go near it. stuart: a muted open for blue apron, the meal delivery service. where are we at the offering. liz: look that, break down. stuart: we broke below the $10 offering price. hold on a second, scott, would you buy it? >> no, i think i'd rename it from blue apron to blue bib, that's what's all over you, when you're done here. stuart: whoa, we're in quite a mood, aren't we, scott shellady. >> there is somebody who made hundreds of millions on this stock and that essentially is just the most ridiculous idea that i've ever heard. i mean. stuart: whoa. >> delivering food in a
package. liz: historically ipo's usually pop higher. pure speculation, i wonder if the bank underwriters, guys on wall street went in there and started buying to put a floor under it, wondering. stuart: the floor is not working. liz: no, it's breaking down. stuart: all right, i've got to say thank you to jeff and scott, friday morning, fine performance from both and we appreciate you being with us. all right, moving on, check that big board, it's a triple-digit rally, the dow industrials are now up 104 points. 21, 392. almost gotten beyond the drop yesterday, almost. liz: right. stuart: now this, restaurant workers in maine campaigning against raising the minimum wage and they won. the full story is next. lawmakers in the house taking their july 4th recess early. most of them already out of town. it's time to face their constituents. no deal on health reform or taxes and, yes, the president's tweets, i wouldn't want to be a congressman facing my constituents now.
>> all right. it's a rally. we'll take it. 21,383 on the dow industrials. take a look, just look at amc networks. that's the home of "the walking dead", they're launching a $5 per month advertisement-free tv streaming service. now, that's interesting. tell me about it, nicole. nicole: it sounds so good and it is for certain customers, stuart. as you noted, the walking dead, into the bad lands, the sun, great programming that they have on amc network, but what you can do with this service, and it's called amc premier, $5 and it's just for the folks who have comcast. now, it turns out, 19 million customers on comcast is watching amc channel.
if you were to get their app and this is-- and have the xfinity customers, you can have this. this is with their website and their mobile app and you can stream this stuff as it's on live on tv. you can stream it. no commercials and if you love amc and you're comcast, this is for you. stuart: this is for you, thanks, nicole, we'll take it. thank you. i've got a change for you. this is a surprise, actually. restaurant workers in maine lobbied to lower the minimum wage in that state and e-mack, you're going to tell me that they won? >> yeah, they won. restaurant workers doesn't like the rise to $12 by 2020, it cuts their tip income. customers don't tip enough basically. he so, the restaurants would lay them off. they've up-ended it.
there's a rescinding of the law. you can pay half the wage as long as you, employer, covers the difference for your worker. stuart: economic rationality makes a return in the state of maine. liz: you wonder if it's going to have an impact on new york, massachusetts. stuart: the $15 seems to have stalled and faltered with the news out of seattle, with fewer hours worked and less money made. and maine turning it around. i'm cheering it on. i'm for economic rationality. that's where i'm coming from. let's see who else is from fchl economic rationality. let's focus on health care. fox news contributing byron york with the washington examiner. i'm trying to find out if we're going to get any health care, not a deal, but a health care proposal from the senate today. we were supposed to get it. are we going to get it? >> no, i don't think you are going to get it. i mean, everything is in such a
state of flux right now. no senator who came out against this bill has now said he's for it. he or she is for it. and the -- what we're hearing is there are a number of ideas floating around. what about that obamacare tax, 3.8% on investment income, people who make over $250,000, do we really have to repeal all of that? could we repeal part of it. what about-- >> here is another idea. sorry to interrupt, another idea came from the president this morning, he wants to split health care reform in two, repeal it now and then replace it at some point in the future. split it in two. i asked republican senator pat toomey about that this morning. he said okay. but there are still not 50 votes, even for that kind of repeal now, replace later. >> yeah, republicans voted for repeal back when barack obama was president, safe in the knowledge that he would veto anything if it actually got to
his desk. this is an older idea. remember in january republicans were talking about this, and then they came to believe, no, no, no, we have to pass repeal and replace at the same time. apparently, the idea now would be to pass repeal and it wouldn't be repealing tomorrow. it would be repealing it some date in the future. and then what would happen is, they'd do nothing and talk about it and the date would approach and as the date approached it would become the most urgent issue in the entire world and they'd scramble to do something. i'm not sure that that ensures an orderly process. >> i think it's pathetic. quite frankly. put i remember self in the place of a member of congress now leaving washington d.c. going back to their constituents and they're going to catch an earful about, one, the lack of progress on obamacare reform and two, this outrageous tweet from the president yesterday.
you can see it a mile off. the left will have a field day with this and challenge any republican because of what the president tweeted. so therefore, i is a that that tweet did get in the way of the growth agenda. >> i just talked to a member of congress this morning who said, you know, originally we were told by the white house, you know, pass obamacare. the president's going to be out there pushing the message and travelling the country, pushing the message and it will do the same thing for tax reform after that. and that's not happening. and it's not as if the president is taking all of his time tweeting. i mean, that single tweet that caused him so much trouble, was 30 seconds, he could walk and chew gum at the same time. and pushing the-- . thank you reducing the odds of getting something done on health care soon.
>> soon, yes. obamacare took time. this is the friday before july 4th. they'll come back after july 4th, they'll have three weeks in july, see what they do then. even if they take all of august off, they'll come back in the fall. it's not something that has to be done by tomorrow or it can never be done. stuart: i'm exasperated, byron, i think you are, too. >> you and a lot of people. stuart: you have a many ka exterior and -- you have a calm exterior and i don't, i hope you have a great 4th of july and i hope you do, too. he didn't hear me. byron york. liz: you left him speechless. stuart: they turned his mic off. market scan, 27 in the green, that's pretty good, and the dow industrials are up 112 points. we'll take it. liz: yes. stuart: new flu vaccine, no
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regularly, no, i'm not that much in favor of flu shots, not for myself. look at this, a press-on patch that delivers flu vaccine. you're looking at it and it's out there. doc siegel is with us. first of all, am i might it's a patch that fits on your arm, goes right there. the vaccine or whatever it is, goes through your skin, the needles, not real needles. >> tiny needles. no pain, stuart. stuart: no side effects? >> they dissolve, no pain, no side effects, presumably no local irritation and it looks like a home run so far. stuart: it's the same vaccine which is only what, 60% effective? >> if we're talking flu now. we can talk about different vaccines. flu the past year was 45% effective. but stuart, when you have up to 500,000 people hospitalized for flu-related illness and only 40% take the vaccine, you've
got to refrigerate it and transport it and hurts people. stuart: now you don't with the patch. >> this patch, room temperature, no pain and so far they went through phase one trials completely safe. very little side effects. now they've got to ramp it up to more people. stuart: it's not out yet. >> the head of it tweeted out yesterday. >> can you use it for measles or rubella vaccination? >> they're trying it. it's promising for measles and rubella. and probably for chicken pox and mumps, the basic vaccines. it's coming out of georgia tech and emery was studying, it was in the lancet this week in a reputable british journal. i think it's going to work and i think it's going to replace vaccines. stuart: replaces needles, a big
deal. >> for people like you, stuart, every year i come on the show and beg you to get the vaccine. millions look to you for a role model and you're the financial guru. i want you to take it on the air. and now a patch, will you agree to that? >> i will not agree with anything. >> will you be the in the phase three trial? >> the producers are in my ear. >> liz, will you do it. liz: no. >> it's a big deal. stuart: president trump delivers a speech on energy dominance. criminal illegals in prison, if they try to re-enter the country. did you hear about any of that? probably not because of two tweets from president trump. my take on that three minutes from now. ut here with some big news about type 2 diabetes. you have type 2 diabetes, right? yes.
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can. stuart: did you know that president trump made a major speech yesterday about america's energy dominance? used to be energy independence. now it's dominance. this is a big deal. did you hear about it? "kate's law," it says a criminal illegal who comes back to america will go to prison. it has been talked about for years now. it has passed the house. that happened yesterday. did you hear about it? the travel order went into effect, successfully and smoothly, implemented pretty well. did you heart about that? in all three cases thence is probably not. you probably didn't hear much about it. progress on three parts of the president's program and odds are, you did not hear about it. because, the president issued a juvenile tweet attacking a female news anchor. hard to believe that the nation's important business should have be excluded from your news feed because of a tweet. that is what happened. it was wrong, it demeans the
office of the president and it came just as the president needs maximum support to get health reform and tax cuts. he is getting in the way of his own program, and we are paying the price. i don't think el change. he will keep tweets. but here is a modest proposal. mr. president, don't tweet anything unless ivanka has vetted your message first. the second hour of "varney & company" is about to begin. ♪ stuart: breaking news, president trump about to meet with south korea's president. the topic of discussion, growing north korea and missile threat. we'll take you there live when it happens. look at the big board.
we to the latest read on consumer sentiment. how are we feeling? liz: it was expected to be 95.5. what is going on the financial gains to expect over year ago, number of people feel positive, biggest in a year. labor market getting better. wages going up. economy trying to get its footing. politics could be deflating in some respects consumer confidence in months prior. that did what consumers are thinking about. stuart: bring you up-to-date about something. there is a lot of stuff going on with health care reform. senator ben sasse is in favor of immediate repeal of obamacare but delay the actual repeal for about a year. and, whole of congress should work all the way through august. the wheels are in motion. the pressure is being felt and that is from ben sasse this
morning. not too long ago, a few minutes ago actually. big board shows a gain of 83 points. no response to the news of better than expected, more lively consumer sentiment. what is the right word, more confident consumer. despite that we're up 85 points. big tech names way down yesterday. a mixed bag this morning. facebook facebook, alphabet down a little more, microsoft apple barely recovering at all. still a bit depressed. how about blue apron, went public yesterday, $10 a share. that is offering price. it is down below that offering price, 4% below at 9.56. president trump's temporary travel order is in effect. joining us now sebastian gorka, deputy assistant to president trump. sir, are you comfortable we can keep the bad guys out? >> absolutely stuart.
we have seen this week a a unanimous decision, 9-0, no dissensions. we can execute the original executive order and protect americans. stuart: okay, the travel order includes distinctions on who is allowed and and who's not. siblings are in. grandparents, nieces nephews are not allowed in. why distinction with grandparents and like sons and daughters in law, why grandparents? >> the system we inherited, stuart was fundamentally broken. we need to reform, review it and reform it. the decision was made we need to put a halt broadly as possible from areas where jihadists actively recruiting people come to the west on streets of europe. we have to draw the line
somewhere. the smaller the group, the safer we will be,. once we fix the system, we can expand it again. comments sieve authority who comes to america as foreign national lies in the hands of the president. that is indisputable. the supreme court just reaffirmed that. stuart: the house just passed yesterday actually "kate's law." i believe, what this moons is, i think, deported criminal illegal who comes back to america will go to prison. i'm shocked it took so long to get a vote in favor of this. you too? >> yeah. it is sad that it took so long but we're so very, very happy for this vote. think about this, kate steinle's murderer, a beautiful woman slain at prime of her life had been deported five times, stuart, and had been convicted seven times in america. well that is not going to happen again.
when this bill finally goes through all the congress, if you have been deported, come back to america, you will get two years if federal prison. if you are convicted of a crime and deported and come back, we can imprison you for up to 25 years to keep americans safe. stuart: why isn't this headline news? sebastian, you're a good friend of program. you've appeared here many times. there is a lot of good news out there. i'm not seeing it in the media. why not? >> why? unfortunately what we call the mainstream media is politically-driven. they still can not psychologically deal with the fact that november the 8th happened, american people spoke. they spin their hoaxes and spin fake news. look what is happening cnn is imploding, finally. "new york times" is falling apart. this is the price you pay when you have politically driven news, you don't talk about the good things. think about one fact, without
building the wall, thanks to great people like secretary kelly, we have decreased number of illegal immigrants into america since the inauguration by 73%. not 7%, not 10%, 73%. that is what the media should be reporting but they won't until they pay the penalty and they will in marketplace of truth sebastian, thank you for joining us. happy fourth. see you soon. >> thank you, stuart. stuart: radio show dana loesch under fire for a new nra ad that she started. it condemns anti-trump rhetoric and violent protests but same say it calls for vie license against the left. ray mckesson tweeted this, this nra ad is open call to violence to protect white supremacy, if i made a video like this i would be in jail. lawrence jones, the host of the blaze, a frequent guest on the
program. your reaction to that, please. >> stuart, brother, nice to be with you. did they look at the ad? in the ad showing leftists burning up stuff, destroying cars, destroying private property. if talking about them, if talking about the hate and the violence that they are displaying. so if anybody that should be concerned, it should be the second amendment owners in the republicans because this is at the hands of the left. stuart: how will we get this violent rhetoric from either side, i agree with you, most of it is coming from the left, how do we stop it? how do we get rid of it? >> look, stuart, there is no getting rid of it. honestly, i don't want to say that, but that is reality of it. remember, just two weeks or three weeks ago we had members of congress targeted because they were republicans. everybody got together, they
said, oh, kumbayah, let's come together, be unified, let's pray together. a week later they were back to the same old political posturing, same old back and forth. it is part of american politics of today. it is just not going away. stuart: the president took on chicago earlier today in a tweet. owe says, he will send the feds in. 1700 shootings in chicago thus far in 2017. he is sending in federal people. you approve of that? >> you know, i would caution them on that. i think the best way to get this done is to go in and have the citizens become second amendment owners. we're talking about nra now. they have different programs, initiatives, dana loesch, that are passionate about this issue. by the way i don't agree with them colling my colleague dana loesch racist when she has put her money where her mouth is and
helping black folks to get guns. where were they when i was getting attacked on social media, and people put my address out there? where were they, white progressives were saying hang me and dana loesch, rest of nra was saying you have to come through us first. i don't agree making this about race as well. the way you get chicago fixed is a armed citizen group that are prepared to defend their city. if you put the feds in, then you will have a lot of tension in that community. stuart: hmmm, so it has come to this. lawrence, it's a tense kind of thing, isn't it? >> it is. stuart: that is where we are, no denying it. lawrence jones, everyone, "the blaze." see you soon. >> thanks, brother. stuart: great stuff. check this out. footage of a passenger plane off the coast of russia leaving a vapor trail through the sky. it was shot by another plane following the boeing 787. that is quite a vapor trail, i think you will agree. look at that!
coming up the president under fire for a juvenile tweet yesterday, that is my word, my description. my next guest says tweets are exactly what the american people want from him. there is the keystone pipeline. a new hurdle. oil companies and refiners they don't want to use it. there is already enough cheap oil. interior secretary ryan zinke joins us later this hour. you are watching the second hour of "varney & company." ♪ he . new parodontax. the toothpaste that helps prevent bleeding gums. if you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. help stop the journey of gum disease. try new parodontax toothpaste. ♪
senator pat toomey joined us earlier on the show? i asked him about the plan, proposal from president trump to pass a repeal of obamacare first. and then replace later, split it in two. roll tape. >> there were some in our republican conference, some senators who refused to go along with that strategy, said we have to do it all at once. that is why we've been wrapped around the axe is ever since. stuart: are you for it? >> i would be fine with that. i don't think we have the votes in the senate to pass that. stuart: well he is for it. senator ben sasse is for it. he said this morning that he too would like to see it split in two. repeal it now. actual repeal takes effect from a year from now. you get on business of replacing it. that is what he said. he also favors working all the way through august. then we have democrat congresswoman sheila jackson lee, calling on president trump to resign over
his latest tweets. roll tape. >> president of the united states, mr. trump, violated any suggestion that he should be trusted with the oval office. and i would argue our responsibility is not to him, but to the american people and he should resign. stuart: all right. a new fox poll however says, 71% of people believe the president's tweets are hurting his agenda. and that poll was taken before yesterday's tweet about mika brzezinski. unlocking the secrets behind the trump empire. you say in that book, you say his tweet something very effective and should keep on doing it. absolutely. >> that is why he is in the white house. stuart: not tweets like this. >> i support the president of the united states. you don't support that one tweet yesterday. it is very effective instrument for him. this is how he is able to communicate with core constituents, with his voters.
stuart: it has on occasion interfered at a crucial point with him getting his agenda through congress. that is exactly what is happening now. >> absolutely. stuart, he is frustrated. he is frustrated with the media of the as i write in my book, this goes back four decades, 40 years, when he started to build the commodore hotel down the street here. the media came out, these same pundits this will not happen. he will not be able to build this. he will not be able to build trump tower. media after media, the they have been there four decades. this is pent up frustration. i don't support that tweet. i haven't put myself in his shoes. you're not in his shoes. i don't support the tweet but i know he is frustrated with the media. stuart: this is the president of the united states in america, highest office in the land, most powerful man in the world. should he communicating by a tweet, 140 characters, rough language, first thing in the morning, you wake up and bang you tweet something off like that.
is that what we want in a president of the united states? >> well i ask the media is that what they want? this whole market is driven by media headlines, you know that. this is media headline, moving a lot of far left media to the headlines. that is how they're staying in business. trump said time after time, at all his rallies media is going out of business. he is absolutely right about that. this media headlines keep a lot of media companies in business. stuart: yes, but he is not helping his own situation. i mean, i'm not, i don't want to go too far here but the president is damaging himself. he is inflicting, self-inflicted one on himself. that is what he is doing. is there nobody in the white house who can rein him in? >> we need a president to move the market. not just through these tweets. we need infrastructure, we need tax reform. we need health care. we need these initiatives. that is what will move the market.
that is why i voted for him. large majority of people voted for him. that is why he is in office. i'm counting on him as supporter to move the market. i'm confident that donald trump can move this market. stuart: is he popular because of his personality or because of his program? >> i think both. i think both. i think that is again, i think that is the secret combination, those ingredients why he is in the white house. stuart: do you think his supporters like it when he does this kind of stuff? >> i do. not to the extent we saw yesterday but i think they absolutely like it. it is a full way for him transparent communication, that is what people like. really boils down to trust here. i think that is what we're seeing with donald trump today. he is fully transparent. you have got to see that. he is one of the most transparent presidents we've ever seen in the white house. stuart: the book is called, "the trump factor." >> unlocking secrets behind the trump empire. that is correct. stuart: give me one basis. what is the trump factor? >> i wrote the book because of
fake news. people tried to write about trump through, what he is worth, how he able to create success. i had to write a you know biased book, 100% unbiased on donald trump and his businesses how he is able to create net worth here. this is the "art of the deal" 2.0. stuart: this is all about his business empire. >> and brand. stuart: nothing to do with the actual presidency and policies of his president? >> i released the book a month before the election. stuart: brad thomas, thanks for joining us. >> thank you. stuart: how about this? $8,000 a year, free housing, fancy meals. those are just some of the perks interns are getting in silicon valley. we'll head to facebook next for the details on that. ♪
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stuart: bringing you this as breaking news. senior white house source telling fox news they do not expect a breakthrough on the senate health care bill. what they, that's today. what they do expect is that mitch mcconnell will send two versions of the health care bill to the cbo next week so they can be scored. both of these versions will be repeal and replace bills. no breakthrough on health reform today, but two proposals, we think, will be going from mitch mcconnell to the cbo next week. i guess you would call that
progress. supposed to be today. liz: won't be today. stuart: not until next week. by the sound of it they will be repeal now, replace later bills. that is the way it sounds. that looks like the new format for the health care reform bills going forward. how about this for a headline. it pays to be an intern. one of the bilge it being companies, facebook, amazon, microsoft, they offer really big perks to their interns. hillary vaughn joins us now. what kind of perks, hillary? reporter: hey, stuart. first the big perk is money. a few lucky interns are making more in one summer than some minimum wage workers take home in a year. facebook, amazon, microsoft, all competing for college grads and that high demand for talent means some lucky interns, a few of biggest tech companies are taking home a big payday. >> it is important for us to stay really competitive in the market. there is a lot of different companies that are after the
same talent. reporter: we got a look at all three companies and at microsoft interns, they get to go to baseball games, get to take gourmet cooking classes. they rent out the state for for interns and interns and play games to win xboxs and surfaces. at amazon, interns can bring their dog to work every single day. they go on whitewater rafting excursions. they attend private concerts with art it like ellie golding. they have a bike to use all summer. there are nap rooms on sight, if facebook interns want to take a break. interns are not just getting coffee and making copies. they're being treated like full-time employees, producing real products. these perks are a part of company strategies to make sure interns come back to work for them, and not their competitors. stuart. stuart: unbelievable. hillary, thank you very much indeed. i must tell our viewers, i think
i made a mistake. not $8,000 salary per year. it is 8,000 bucks a month, for the few months they are in silicon valley. i'll take it. president, coming up, president trump, touting a new era of america energy dominance. that was at the white house yesterday. his interior secretary ryan zinke calling for more offshore drilling and he will join us in a moment.
how about blue apron, went out yesterday $10 a share first trade? now it is 9.70. how about another big ipo from a few months ago, how about snap? that too is just about holding -- no it is not. liz: debuted at 17. hovering around the ipo. should be popping after ipo. blue apron is not. stuart: energy week at the white house. president trump talking about a new era of american energy dominance, important word. roll tape. >> with these incredible resources my administration will not only seek american energy independence we've been looking for so long, but american energy symptom -- dominance. stuart: we have a little wrinkle in the equation here. key components of that energy plan, one of them, the keystone pipeline, you're looking at it. it is facing a hurdle. oil companies refiners don't
want oil coming through the pipeline. they have enough cheap oil already. joining us now secretary of the interior ryan zinke. i'm sorry to bring up a wrinkle like that, mr. secretary, you know, we've been waiting for pipeline for eight years. now we got it, we don't want the oil, what do you make of it? >> we don't pick and choose but certainly infrastructure is part of it. from congressman in montana and safer to transport oil by pipeline than rail. but you know the energy dominance picture, you look at interior. you go back to 2008, we made $18 billion a year just in offshore. last year we made 2.6 billion. we dropped 15 1/2 billion dollars a year in revenue and from the secretary of interior's point of view we're 11 1/2 billion dollars behind in our park system, on backlog of maintenance. that drop of 15 would have paid backlog of
maintenance and $3 billion investment in the park system, 4th of july, recreation park, public access and infrastructure and american energy is all part of paying the bills. stuart: what is the difference between energy independence, that is something we've been talking about a long time, and this new word, energy dominance? what's the difference? >> dominance allows us to export, it is better to produce energy here unreasonable regulation than watch it get produced overseas with none. national security, you look at iran. we should be concerned that iran is launching nuclear weapons or nuclear missiles, potentially, you look at our play in energy, you know, we can sub plant every drop of crude and put economic pressure on iran, never going to war, same thing with russia, liquid natural gas. it requires infrastructure. we have assets. we are the gold standard in safety, environmental conscious energy.
this is a opportunity. stuart: i am told we're about to experience a bonanza of energy exports, specifically liquified natural gas. >> huge opportunity. stuart: it is an opportunity. are we going to see this? >> we have to put infrastructure in place. permitting process can't be 17 years. stuart: it has been speeded up, hasn't it? >> it has been. we've done a lot of things, the pace of things we've seen in first 120 days has been unprecedented. but a permit, replacing a bridge, in prescribed easement takes 17 years, we have to make sure the permitting process, regulations strengthen them by streamlining simplifying and providing business stability. we're looking at that. infrastructure is a big piece of energy dominance. and environmentally, we do things better, safer, more conscious, cleaner than any other country. we're going to make sure that
the countries adhere to our standards. stuart: at what point will you come out and say, america is now energy dominant? >> we believe we can get there during this president's administration. it will take infrastructure. there is a lag time on that. we've done great things. going forward inventory what we have. we need to know what our volume is. looking at checkpoints on infrastructure. side of it. looking at opportunities, liquid natural gas certainly. coal exports overseas certainly is an opportunity. it drives the economy. if you have reliable, abundant and affordable energy, we can manufacture in this country and put leverage overseas where we need to, in places like russia or iran. stuart: i got cheap gas for the july 4th weekend. very happy about that ryan zinke. mr. secretary thanks for joining us.
>> always a pleasure. stuart: rally on wall street still holds. we're up 90 points on the dow industrials. our next guest says, the group "black lives matter," needs a new focus. jaws son riley has new op-ed in "the wall street journal." it is called better direction of "black lives matter." rather than scapegoat police, focus on bad schools and job-killing regulations. jason riley, author of a book, false black power. manhattan institute senior fellow. that is the exact expression? >> a senior fellow. there is more than one. stuart: you still work for "the wall street journal." >> i write a column for "wall street journal." stuart: and you're a fox contributor? >> i am. stuart: welcome aboard. why isn't "black lives matter" focusing on schools problem? why not? >> i think it is more politically expedient for them to focus on things like police shooting this is political organization, they're pushing a political agenda.
but the column was based on an article i read in buzzfeed which did a bunch interviews with "black lives matter" linked individuals and organizations. there is a lot of infighting going on. there is not agreement what direction the group should go now. i offered somewhat i thought helpful suggestions they could be focusing on if they want to make a difference in the lives of underprivileged blacks. stuart: in my opinion, the best thing president trump could do for the black community is fixedcation system in our inner-cities. you would disagree with me? >> that would be excellent start. that is what i make in the column. a lot of black kids are trapped in worst public education schools. we know how to educate the kids. there are school models closing the education gap. a lot of progress sieves want to stop charter schools. stuart: what is progressive about that. >> putting interests of teachers unions and others ahead of interests of kids.
that is what you see going on. that is interest where trump's new education secretary betsy devos could make a difference. stuart: president trump tweeting this morning about the violence in chicago. i'm sure you have seen this, jason, for benefit of our viewers, crimes and killings in chicago are he reaching epidemic portions i'm sending in federal help. 1714 shootings in chicago this year, exclamation point. is he doing the right thing. >> what police departments in chicago, detroit, anywhere around the country need for politicians to have their back, let them do share jobs. under the obama administration, the administration constantly looking over their shoulder. piggybacking these investigations with their own federal investigations. police departments didn't have freedom they feel to do their job. what they need from the trump administration is to back off. give them the backing, political
backing they need to go about business of proactive policing. if they have the freedom, politicians will not scapegoat them, back them, i think they do more effective job. i don't know matter of him sending in more people. what they need is the freedom to do their jobs. stuart: police, zooms to me, have been forced by political pressure to back off. >> exactly, exactly. you had less proactive policing. cops, they are staying in cars, instead of getting out and investigating. all out of fear someone will show up with a cell phone, it will go viral, politicians pounce on them. that is not hadding the situation. if they can count on washington, and not only washington but even local political establishment, to have their back, i think that is what they need. that is the support they need. stuart: there is a rough statement to make but do you think that gangs now run some minority communities? >> oh, absolutely. i don't know that it's a rough statement. there is a lot of law
enforcement officials would agree with you. a lot is gang-related violence. stuart: state authority retreats. gang authority is enhanced. that is the situation now. >> the bad guys are winning, when the police have one hand tied behind their back, they can't be active because they know politicians will scapegoat them. stuart: the voice of people bring back law enforcement. we hear from black lives matter. >> exactly. but as my manhattan institute colleague, heather mcdonald talks about this, when you talk to individuals in the communities. they want the police there. they know they're primary victims of this violence. they know the black homicide rates are not what think are because of police shootings. stuart: jason, thanks for being with us. i hope you have a wonderful july 4th. >> thank you. stuart: my fellow american. stuart: thank you. serious stuff here, laura wilkerson, her son killed by an illegal immigrant. she met with attorney general
liz: market guest jeff sica why interest rates are on the move. roll tape. stuart: why are interest rates going up like this? >> the first thing investor have to realize this market is fueled by suppressed interest rates. interest rates are moving up in anticipation that this stimulus policy is going to eventually end. and, when they move up as abruptly as they have recently, there is anticipation it could end quicker than people think. the reason it is important, is because investors have to realize higher interest rates are going to make it much more difficult for the market to move forward. stuart: interest rates are indeed rising. i'll tell you now, very shortly, about a minute from now, we'll get tape from president trump as meets with the president of south korea. there is an official going on at the white house in a moment. tape has been taken.
we'll run it for you momentarily. liz: they did discuss north korea. stuart: go ahead. liz: they did discuss north korea in the meeting this is what the president, we may find out more about how china and south korea help with the problem of north korea. stuart: we'll run this tape any moment. i'll tell you now, at the top of the tape, the first thing you see what i'm going to call some media joss he willing. it -- jostling. it got a little crazy. i don't know whether it had to do with the trump tweet. but the president in this tape will say, you guys, looking at media, you guys are getting worse. now bear with us, please, waiting for this tape to be fed properly to us. the moment i've got it, you will see it. again it's president trump in his meeting with the south korean president. there is a brief moment when the president speaks and you will see him speaking and you will see the press jostling. here we go. of the let's listen.
>> you may say something, i will say something and then -- [shouting] >> hey. >> easy, fellows. fellows. fellows, easy. fellows, easy. wow. you guys are getting worse. they knocked the table down. all right. actually a very friendly press. don't let that get to you. although we just lost a table. i want to thank the president of south korea, president moon, for being here. we had a great afternoon yesterday. we had a fantastic dinner at
white house. accomplished a lot having to do with our thoughts on north korea, and very much our thoughts on trade. we are renegotiating a trade deal right now as we speak with south korea, and hopefully it will be an equitable deal, a fair deal to both parties. it has been a rough dole for the united states but i think it will be much different and it will be good for both parties. so we're in the process of doing that we're also in the process of discussing our, frankly our many options. we have many options, with respect to north korea. thank you very much. president? president? [inaudible] >> thank you. [shouting questions] >> thank you. >> thank you.
>> the president will speak. >> >> translator: i would like toe thank president trump for inviting me to the white house and his warm welcome. when i was, when i won the election last month, president trump was the first among all foreign leaders to call me to congratulate my. [speaking in native tongue] >> translator: i believe that was to reconfirm the strength of the u.s. alliance and president
trump's warm message to the korean people who have been suffering through political turmoil. [speaking in native tongue] >> translator: last night, at the dinner with president trump, we discussed various issues, diverse scope and very honest discussion on issues to include the north korean nuclear issue and other issues of mutual interest. [speaking in native tongue] >> translator: it was a great opportunity for us to further our, the trust and friendship between me and president trump. [speaking in native tongue] >> translator: it was also an opportunity for us to reconfirm the fact that the united states
and korea are walking together on the same path toward a great alliance. [speaking in native tongue] >> translator: so i hope that through this summit meeting today, i hope that our relationship can further develop into a more meaningful and fruitful relationship. [speaking in native tongue] >> translator: thank you very much. >> what many people don't know is that south korea is a major trading partner with the united states, and we want something that is going to be good for the american worker and i think we'll be able to do that today. i think we'll be able to do many other things. so the relationship is very, very strong. our personal relationship with president moon, our personal relationship is very, very good. thank you very much, everybody. thank you. stuart: okay.
no news was broken there by president trump or the president of south korea. that's not the news from that five-minute tape of their meeting. the news is the atmosphere between the media and president trump. at the very beginning of that tape there was a good deal of jostling, frankly it looked more like a circus atmosphere. i don't know what was going on, but you couldn't actually see. you could see a camera wobbling all over the place. there were shouted questions. there were shouted states from the media. they were right at the president of the united states of america right there. am i reading this correct? liz: you're absolutely right. this is the first trip to the united states of by the president of south korea. he was just named, rather elected in may. this is, there is heightened anxiety over north korea. stuart: but that didn't come out there. liz: that is the issue. and what the issue is, that president trump is increasingly frustrated with china. he is trying to get the south
korea alliance tighter and better place, because of what is going on with north korea. stuart: and the atmosphere between the president and the media, it is such a circus atmosphere. that those points you rightly mentioned, they're not out there. liz: they're not out there. so you heard different questions being thrown at him. the president says, hey, guys, calm down. a table, according to the president, was overturned in this room at the, with this presser with the south korean president. so it is circus-like atmosphere, with very, very serious issues are in place, stuart. north korea, nuclear missile. you and i talked about it. fears it could hit l.a. in a half hour if they're on that path. stuart: right at one point at the top of the tape the president said you guys are getting worse. he laughed it off but he he said it. liz: he said it. this is what is so serious right now. the president needs a strong alliance with south korea. president obama struck a trade deal. it was a bad trade deal with south korea.
the trade deficit has doubled. there is fight with south korea over that. at same time we have north korea. just yesterday the u.s. sanctioned two chinese citizens in a shipping company for helping north korea's nuclear ambitions. so the tensions are running high. that is why the president, he did try to be transparent sitting down with south korea president, with reporters there. it was a circus atmosphere. stuart: it was indeed. thank you, liz, thank you very much. let me show you what is happening with interest rates now. they're going up. up 2.29%, yield on 10-year treasury. that is the key benchmark interest rates in america at this moment. 2.29. on monday it was 2.13. this rising rates is hurting the stock market. in fact the markets are paying more attention to rates than it is to the president as tweets or south korea or anything else. look at it. 53 point higher for the dow industrials. we were up over 100 point.
rates start to go up. the market starts to pull back. that's the situation we've got now. north completely different story. here we go. attorney general jeff sessions met with families who lost loved ones because of crimes committed by illegals. our next guest was at that meeting. angle mom, laura wilkinson joins us now. laura, what did the attorney general of the united states say to you? >> first of all he gave his apologies we all had to be there in such circumstances. and then he allowed us to ask him some questions about you know, which way the bills were going and what was happening, what could we do to further this. he just gave us an opportunity to ask some questions normally we would not be able to ask. stuart: do you feel you got a voice, that you have a voice now? >> oh, absolutely yes. this is a great start on these, this immigration problem and it's a great start to it.
yes, we absolutely feel like we have a voice. stuart: i can't imagine why it would take so long to get "kate's law" passed, just in the house. you, can you explain that? why did it take so long for this? >> i don't know if it just about getting wording correct or not. these are common sense things already on the books. just about enforcing them. they're very much common sense. you know, as far as how long it takes to get it done i am not sure but i'm grateful today it has been done, and so hopeful that the senate will pass it. stuart: i want to bring this to your attention, forgive me. san francisco may pay almost $200,000 to an illegal immigrant. he claims he was reported to the federal immigration authorities, and that violated the city's sanctuary city order din nance. -- ordinance. your reaction please. >> that is hogwash.
should not be allowed, how absurd not enforcing laws will cause all these other things to happen. it is absolutely absurd. it should not be tolerated. stuart: will you stay active, in the angle mom movement, if i can put it like that? >> yes, i am staying active because people don't seem to know or understand at home what a sanctuary city really is, unless it lands in your lap, it sound like a great term. they don't understand you're inviting criminal element of illegals into your city, saying we'll give you a pass from the law. it is education of people busy with their own lives, don't realize what they're asking for or what their leaders want in a sanctuary city. there is a lot of work to be done. stuart: president trump is going after the whole concept of sanctuary cities. is he going to win? >> he better win. i think that he will. you know, should win. like i say it is common sense. once everybody is educated what they are, there should be no question, it is common sense.
all the people should be behind their leaders to say, look, we don't want criminals, illegal or legal in our cities. stuart: laura, i did not ask you to relate the story of your son to our viewers. you i know it is extremely painful. i know you live wit to this day. suffice it to say you suffered, we're very glad you're on our program today and you have got a voice. thank you, we appreciate it. >> thank you for having me. stuart: all right. moving on, check out the big board. 50 points higher for the dow jones industrial average. the rally has faded significantly. we were over 100 up. now with interest rates rising as of right now, we're back to a 50-point gain. more "varney" after this. preve. if you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. toothpaste. ♪
i'll be at the local parade and driving a lot and joining cheapest independence gas in a decade. second july 4th as american citizen. no taxization -- taxation without representation and i'm happy to see that fellow americans are holding out for the tax cut they were promised in the last election. gallup shows 61% are in favor for tax cuts for middle american. i'm determined to enjoy this holiday therefore i should concentrate on the positive. i should try to ignore the president's tweets, i shall look for news that his growth agenda is moving forward and should hope that the republican party can come together and first repeal obamacare and then replace it. i live in hope but isn't that what july the fourth is all about? brilliant and dramatic
revolution this gave birth successful experiment in government. it worked and worked till this day. the third hour of varney & company is about to begin. ♪ ♪ ♪ stuart: yes, i knew that. i knew that. the thunderstorm or something. i like it. it's friday, jam-packed hour just ahead. with us, wait for it ann coulter author of the book in trump we trust and fox news outnumbered cohost sandra smith. she used to be a friend of this program and, of course -- >> happy to be here. >> elizabeth mcdonald. let's we forget.
welcome wasn't and all. to the rose garden moments from now president trump's and south korea's president will have joint statement, we could hear trade or strategy for north korea, maybe. i want to tell you what happened last hour as the media was brought into the oval office between the meeting of the two presidents. watch this. [inaudible conversations] >> you may say something. [inaudible conversations] >> easy, fellows. fellows, easy. fellows, aides. >> stop. >> you guys are getting worse. stuart: well, it's come to that. sandra -- >> that's bad.
stuart: the president says, you guys are getting worse. what is going to happen. i think that's where it's getting ugly, bad, the people are turning away. i think the relationship between the president and the media is so, let's put it like that, it's getting in the way of serious stuff. sandra: exactly. that's the biggest point. the dye traction from the president's agenda, bigger stuff to get done, health care reform, tax reform. 21,000 based on high hopes of this administration. watch out. stuart: dimmed by tweets and this distraction of the media, that's not good. sandra, hold on a second. i have blake berman at the white house as we await a joint statement from the two presidents.
what are we going to see? blake: we will hear from both of them both president trump and president moon. this will be the culmination of what amounts to not an official state visit but pretty much the red carpet has been rolled out for the south korean president, the issue according to the white house is north korea. a topic that president trump and his administration has been pounding now for some five, six months, the president has tried to use china to exert influence over north korea, but the president seemed frustrated that maybe china isn't able to do all it can as it relates to north korean topic. the south korean president at the white house. the president in a brief statement said the issue of north korea is what they've been talking about stuart. stuart: real fast. do you expect them to take questions?
blake: no, we expect statements only. no questions from the press. i would always caution, stuart, with president trump you never know. stuart: very true, young man. blake berman. thanks so much, blake. let's get to your money. check out the big board. 60-point rally for the dow industrials, two-thirds of the dow 30 are in the green. that means they are up and the dow stands at 21,353. how about the s&p 500? broader-base indicater? that too is up, .2%. how about the nasdaq, that's important, the home of all those technology companies took a huge hit yesterday, not much of a bounce today, up .09%. how about technology stocks? >> most people have a piece of that action. big drop yesterday. no significant recovery today. we have facebook down.
we have alphabet down. fractional gains for amazon, apple. no return, no rebound for the big techs at this point. nike, however, best performer has deal through sell footwear through sam zone, big enough to take stock up 8%. blue apron, went public yesterday, 9.61. [laughter] sandra: i gave in. i needed a little help, i'm busy, i have two babies at home. i like to cook and they send fresh ingredients and it's interesting, it's a lot of work. there's no help there. it is the raw ingredients. you're cooking a serious meal. you have to be ready. [laughter] stuart: i was going to ask you about the overall market.
sandra: please do. i'm at fox news channel. it's been a long time since i've walked and you know i grew up in the trading floor. you have to look at the markets not just on the day, stuart, i know you love to do but you have to look at them on the month, the year, this is the last trading week of the month, the quarter, there's rebalancing going on, shifting around. bank stocks you're talking about, financial stocks, four worst performer sector in s&p 500. technology stocks are booming. financial stocks are starting to look more in favor than technology stocks. definitely some rebalancing going on. >> i think you're right. stuart: why is it that i feel -- wait, why does it feel like i'm
in outnumbered. >> there are see women. liz: ambushed. sandra: get over yourself, stuart. i'm just joking. stuart, i love you to death. the comments coming from the fed presidents are conflicting what we are seeing from the markets. i don't know what is going on. william dudley not paying much attention of signals of concern from the bond market. stuart: so would you buy or sell stocks? sandra: i'm not advising anybody on what to do here. stuart: what would you? >> it was my personal money, definitely buying opportunities. when you look at the financial rates, interest rates are going up, calm down. lock at the dow. above 21,000. who would have ever geed we would have been there today, varney. stuart: you take it all. sandra: i miss stuart varney.
stuart: do we have this now, justin? we are on tape now. let's look at it. the president gary cohn and wilbur ross, roll it. >> okay. thank you very much, we have many great members, secretary of defense, we have some of our really wonderful meetings here and you have your leaders with you and your representatives and we are going to be discussing two things mostly and number one would be north korea, we pretty much discontinued that last night at length and we have a very strong solid plan and number two is going, of course, trade. the deal is up and we want to make a fair deal for the united
states and north korea. gary cohn and wilbur ross is here. perhaps you would like to say things about trade and we can probably leave the media. perhaps you can say a few words about trade and what we are looking to do. >> yes, sir. trade imbalance with shanghai -- shanghai south korea has changed. >> that's an absolute majority of it. so about nontariff trade barriers to u.s. export only 25,000 cars per manufacturer are about based on u.s. standard and anything about that needs to be
on south korean standards. restricts u.s. companies have with korean markets and goods and steel product. there is no domestic market for goods in korea. so everything they make is for export and we've had recent trade cases demonstrating that a lot of that is dumped chinese steel coming and coming back to the oil. but a lot of very specific problems and i think the way to address it is to deal product by product with what we can do to change the export side and what we can do to reduce the bad influence side. >> thank you very much. you could stay for this also and perhaps gary cohn can say a few words about trade.
>> yes, thank you, mr. president. as you know, much of our biggest problem on trade has to do with our economic relationship with china and we have maintained a very large trade deficit with china and it continues to grow. as bill with your said china has predatory practices involved in the way they deal with us, intellectual property and trade barriers for us. we are forced to transfer technology into china, forced to have joint ventures in china, we have tariffs and nontariff barriers, unable to own companies in china as well and we are dealing with all of their policies. at some point we would be interest today hear how you are dealing with chinese policies and how help us dealing with chinese policies. >> thank you very much. the fact is the united states has trade deficits with many,
many countries and we cannot allow that to continue and we will start with south korea right now but we cannot allow that to continue. this is really a statement that i make about all trade, many, many years the united states has suffered through massive trade deficits, that's why we have $20 trillion in debt, so we will be changing that. the great news we will be making great products and i appreciate it very much south korea is making big orders as you know for military. they are many f-35 fighter jets from lockheed and other military equipment at a level that they've never reached before so that's good. also i understand you are dealing with alaska, great state on natural gas and other parts of the united states. we love that you are doing that.
we appreciate it very much. mr. president, would you like to say something before the media leaves? [speaking in native tongue] stuart: now, this meeting, cabinet meeting with the south korean president that took place a few minutes ago, shortly the two presidents will come out of the white house to the rose garden and make a joint statement. we are not expecting them to take any questions. as we are wait if for joint statement ann coulter is with me. i know that you are laughing, my contention is that the president's tweets yesterday about mika brzezinski, they essentially hijacked his agenda
and distracted from the growth agenda which is the most important thing before this country, your response? >> i've heard that argument. i love the tweets and yesterday's tweet was fantastic even my friends who disagree with me on whether the president should tweet. we are all calling yesterday saying, okay, you're right after the mika tweet he has to keep tweeting. it was fantastic. stuart: in what way it was fantastic? >> it's hail or use, one-sided war and you're also wrong in many of the things that you've said that i was going to jump in on but politely did not but the idea of aggression, the war between the president and the media, it's fantastic. it's been a one-sided war. stuart: no, it's distracting. wait a minute. yesterday the president gave a speech on energy dominance. we passed two immigration bills, kate's law was passed and several other things and none of it was mentioned. none of it was mentioned because
of the tweets. >> i tell you what was distracting -- i'm responding. you can't keep denouncing without allowing me. stuart: all congressmen have to go home to constituents this weekend and throughout july the fourth and they will get an earful from -- >> no they won't. it was fantastic. distracting to fly to go saudi arabia and vatican. this week he has gotten back to what he was elected for, by the way, it wasn't tax cuts, it was for trade, i love wilbur ross, one of the two saab net secretaries that i approve. the deficit with south korea is very important. finally he's getting back to trade and finally congress and absolutely no way we would have gotten that sanctuary bill without trump, without attorney
general sessions, the other cabinet official i love, kate's law incidentally, i will give you -- stuart: do you think the tweets yesterday and again today, do you think -- will these tweets enhance the president's agenda on health reform and tax cuts, will they? >> yes. stuart: explain how. >> do you think they're talking about any of cnn or msnbc because you're not watching.
no, i think it's fantastic that people get to hear from the president directly. they are attacking him nonstop and staging assassination in central park, holding his head up. it's vicious. russia conspiracy theory, i can't even watch msnbc and cnn anymore. i would rather them talk about this facelift. it's funny and brings his base back to him. the media -- every time i get mad at him for not following his agenda, i wrote a column about this. the media brings me back. stuart: identify got other news and we have to cover it. we have problems with the keystone pipeline, as you know, it's been finished. the oil people and refiners, they don't want to oil. we've got too much of it. john is with us, former shell president. what's going on with the
keystone pipeline, john? >> well, things have moved on, stuart, and we are getting more oil out of west texas and shell and other parts of the shell formations and frankly all of that oil is closer to the gulf of mexico than canadian oil from the oil sand and so the market has moved onto new production from new sources even though it's old formation, the permian basin and displaced canadian oil with american oil and we don't have the same need for the pipeline. over time we may need it and not right now and they need customers right now that would pay for it but they are not ready to sign up because they don't see the immediate need for oil. stuart: i don't see any way that oil gets baccalaureate to $60 a barrel this year given that you've got an oversupply from
all sources at this moment. >> it all depends on the invent other levels, stuart, and we don't know exactly how much invent other is out there but we are ultimately going to get to a point where capital spending is going to put a guy began -- --gigantic squeeze, hundreds of billions of dollars of deferral, we will catch up to higher-priced oil at some point. stuart: you owe me $200 if oil does not get back to $80 a barrel. sandra: you said 60. can i challenge this on three points? china, everybody says demand has peaked for import in china. last couple reports out of china, we are exporting more and more of our oil out of the
south. thirdly, the canadian dollar, where is it going, up, that changes equation, three things that can be catalyst. stuart: you make sense. three points in about 30 second. that's very good at this point because i'm jam-packed. i'm terribly sorry, i'm saying goodbye. congressman, i think pretty soon you will go home to your constituents, do you believe that the president's tweets enhance the president's agenda or dye tract from it? >> well, it should be no more than a one-day story, stuart and i've been watching a lot of hype ventilation that was pretty cutting, i will admit that but we've had big things going on and you talked about some of them on your program today and the immigration legislation that passed out of the house would
not have happened without donald trump and even without this network it wouldn't have happened without bill o'reilly. each one of the legislations that i authored and worked some far back as 2005 and i want to add andy gibbs of arizona but all of that came together in the same week that the families of the victims of illegal aliens were here in this city to hold feet to the fire of network or radio programs and the president, i think, saw that opportunity and invited them to the white house to a highlight of the grief that they have suffered and move the legislation. stuart: one good lady was on the program just half an hour ago, ann coulter wants to jump in to what you said, congressman, listen to this. >> on kate's law, your kate's law was fantastic, representative. it created the mandatory
imprisonment for any reentry of illegal alien. i love the sanctuary bill, but the kate's law they pass does nothing. it's already -- stuart: i'm sorry, i'm not interested in whether kate's law was a good law or a bad law and how can -- how long it took to growth. i'm interested in the president's agenda. can you enhance it? can you enhance health care reform or tax reform? >> people are getting killed. >> i think we do get it. this momentum that is created by legislation passed this week, i think it does. one thing we passed was medical malpractice reform on wednesday. we have some immigration enforcement yesterday, we have medical malpractice on wednesday and here is what we need to do, i take what we can do on tax reform. but if we can cut corporate income tax and repatuate -- we
can repatriate. the president called for pass and repeal now with the reform later, we should have done that january, we would be done with obamacare by now and down the road on tax reform in substantial way. stuart: steve king, thank you very much, indeed. we wish you luck. when you get back to iowa, it should be
stuart: 61% still support a middle-class tax cut. now, that says to me that despite all of the propaganda, despite all of the opposition, middle america still wants tax cut and it's demanding it. sandra: yeah, they are still not feeling great. things are improving it but still not feeling great. is there an opportunity for the gop one has to ask. 51% republicans and those who lean gop pay in federal taxes.
what caught my eye was the thinking on corporate taxes in this country. small businesses, big businesses. people elected donald trump and want a business-friendly environment. voters were asked about trump's plan to cut corporate taxes, 38%, a mere 38% reacted positively. does that shock you? 43% react negative about the plan and 19% had no opinion at all. sandra: you might want to have one. stuart: middle america, the big corporation has been demagogue. sandra: business friendly environment where wages go up. people do better and the economy thrives is good for everybody so that really shocked me. obviously there's an opportunity for the middle class and tax reform. stuart: let me update everyone on what's going on with health care reform. we were supposed to get a proposal from mitch mcconnell, lay it on the table and score it
on the cbo over the weekend, maybe take a closer look at it and debate it next week or the week after. well, that's been replaced with the idea that we split health care reform into two. first thing you do is repeal it and then you go onto replacing it with a gap in between. that's what they're talking about now. i don't know how much support it's got but that's what they're talking about. i don't see anything wrong with that, ann, do you? >> we have argued about this before. i think the most important part of fixing obamacare is separating the welfare cases from the nonwelfare cases, that's why i say put aside the repeal, let people who need it, the welfare cases get obamacare and then you don't have protests because i'm talking about politically too but allow a free market for all of the rest of us and obama, you can have democrats and republicans argue about how best to distribute welfare, but as long as the welfare cases are tied up with
free market cases like me it's impossible to fix. stuart: do you think there are the votes in the senate for what you suggested? >> yes. how did democrats oppose that. you're allowing people like me to escape it. how do they argue against it? no we need to force ann coulter to pay for transgender operation or illegal immigrants. take that to american people. stuart: i think it would be demagogue. i don't think you carry moderates within the republican party for what you just said. >> my argument is don't touch obamacare, let the rest of us get out of it, the nonwelfare cases buy it on the free market. stuart: i have to get sandra back in because you have to go. you have a show on fox news channel in half an hour. sandra: my final thoughts is deadlines have been intense here and when it comes to the markets, well, they can't get
this done, how are they going to get tax reform donees. they should have done tax reform before health care reform, something positive and accomplishment. there's a lot of that thinking out there. stuart: all right, sandra, i know you have to go. we wish you luck. sandra: good to see you. very emotional. i feel drained. i don't know if i can do my show anymore. thanks for having me. [laughter] stuart: thank you, sandra. thank you very much, indeed. what do you have for me? >> you're very upset about the tweet. i get it. i personally thought it was sexist and cruel, setting that aside, there's the lazy dc media politics at play, the dc-got you machine is extremely lazy. i would say to my colleagues at msnbc stop talking and standing in the amen corner, get people who will seriously debate you
with counter points and talk about policy, right now you are ratcheting the emotion. we hear it and understand it but we are talking about the president's agenda. he is trying to work to get the country moving again. when you sand in the amen corner and you're all agreeing, you get emotional and you ratchet up and blind yourself to the facts and the facts are that there's economic policies at stake here when we have suffered with the economy under quick sand and bad policies in the middle east and we are trying oh -- the president is trying to fix all of that. that's all i'm trying to say. stuart: we are waiting president trump and the president of south korea shortly. there it is at the rose garden shortly they'll step to podiums and they will issue a joint statement but they say they are not going to take questions but you can bet that questions will be shouted from the audience and we will see if president trump answers them. wewe are waiting any minute.
they will appear and do that. meanwhile on wall street, the rally has faded, we were up over a 100 points. now 42. 21,300 is the level. interest rates are rising. that is hurting the market. we are now at 2.9% on the ten-year treasury. sounds technical but that is a big deal in the interest rate world and it is affecting the stock market. joining me now robert charles, former navy intelligence officer, former assistant secretary of state colin powell and welcome to the program. >> thank you. stuart: i'm sure you heard a lot of talk between south korea and the united states about trade and i'm sure that you heard that south korea's trade surplus with america has doubled in the last few years and i'm sure you've heard that wilbur ross wants to take care of this product by product, cause and steel, is
this all just talk or are we really going to make a difference between trade, between america and south korea? >> i think, we will make a there was an agreement signed in 2007, a bilateral agreement, went into effect in 2012. and the goal of that agreement between us and south korea was to generate a $10 billion advantage to the united states; that is to say, to increase our export toss south korea by $10 billion. the net effect, actually, was to reduce our exports by $3 billion. so today we have a trade deficit between $17-$20 billion with south korea. in context, that means that we consume about $80 billion worth of goods and services from them, and they consume about $60 billion from us. so does the president have a bona fide reason to sit down and renegotiate that agreement?
you bet he does, and he should be doing that. you look at the other big topic, no doubt behind closed doors, that's going to be security, north korea and the relationship between south korea, china and north korea. the biggest piece of that is the terminal high altitude defense, basically a medium-range ballistic missile defense that we would like to have them put up. why? basic reasons. one, we don't want to have missiles falling on south korea, because we've got a lot of equities there, both blood, sweat and financial equities there, but we've got servicemen there -- stuart: that's the real story, isn't it? the threat from north korea and what are we going to do about it, and will the south koreans allow us to put up be missile defense system. at the end of the day, robert, do you think they're going to let us do that? >> absolutely. and i think net-net, they will crossover trade and security, and the president will use security to negotiate --
basically, we'll use trade to negotiate for better security advantage. stuart: robert charles, look, i'm sorry to keep it short. stay there for a second. michael malice is with us, he's the author of -- interesting title -- "dear reader: the unauthorized biography of kim jung-il." struck a chord yesterday, did you not, michael? >> thank you. i think so. stuart: i think you did. now, this missile shield, america wants to install it at our expense in south korea -- >> right. stuart: the south koreans are balking. >> right. china's not a big fan of us introducing weapons in south korea, and there's been a debate for years, this has been very much a political issue with them for many years. stuart: so what are they going to do? >> it depends on what their relationship is with china, how well the talks go today. the new president is left of center, so the relationship with
president trump is not going to go well. however, looking at the body language, seems like they had a rapport, far better than the angela merkel -- stuart stuart there's a difference between body language and underlying of nations. >> sure. stuart: is it in south korea's interest to build a missile shield? is it in their interest to actually do it? >> it's in their interest to be safe against the increasing effect of missile attacks. they have to wonder how serious is this threat because be north koreas going to attack, they're going to hit seoul much easier than guam or los angeles. stuart: are we going to solve the north korea problem? we have the stated goal of saying they shall not create a nuclear weapon. i think that's the stated goal. >> i would regard the north korea problem as the continuing distance of the regime and the oppression of 24 million people who are living in a giant prison
camp. this is what the beginning of the end would look like, the increasing nervousness, the increasing bold actions and firing what they have left in their quiver -- stuart: you think they're spiraling down? >> yeah. he killed his older brother because he was the only one that could succeed him. now there's no plan b, so this is an insurance policy to make sure he stays in power. stuart: do you think it's possible that under the radar china has a plan to get rid of kim jongç un, put in a general who is compliant with china? >> i have no doubt that china has many contingency plans in case north korea falls. their biggest concern, 24 million refugees who are going to set up camp in manchuria. stuart: so it's in everybody's interest to get rid of kim jong un. >> not just him, it's for humanity's interest to free these people who have been slaved. stuart stuart or ann coulter is still with us.
i just turned your way, ann. what do you think? >> at the risk of having you yell at me again, why is it in our interest? that's what -- i mean, this is the trump agenda, make america first. how does this help americans? yes, 4 million people are -- 24 million people are suffering horribly. i think china wants to keep the regime as it is, because they don't want those illegal aliens pouring in. south korea doesn't want us to bomb the nuclear facilities because they'll -- [laughter] they're the ones at risk. why do we even have troops there? this is china's problem. it would be as if china announced, well, if america won't deal with mexico, we will. great! take care of mexico for us. why are we taking care of north korea for china and south korea? they should -- south korea should, we should offer to sell them a missile defense. that's it. stuart: okay. hold on a second. thank you, ann. >> you're welcome. thank you for not yelling at me. [laughter] stuart: blake burman is watching what's going on in the rose garden. looks to me like cabinet members
are assembling at the moment. >> reporter: yeah, getting close. you can see gary cohn, wilbur ross, jared kushner and the like, top officials here at the white house. so we are getting somewhat close to the president and president moon of south korea here in the rose garden on this day. to hit on a couple topics you were just talk about, stuart, obviously, as we heard this morning we do anticipate some sort of language or at least some sort of way forward as it relates between the united states, south korea and just how to go about dealing with the issue of north korea. but also as we heard from the folks over my shoulder there just a little while ago, the issue of trade. the u.s. has a $28 billion trade deficit, at least that was the number in 2016, with south korea. but in comments made in thewhite house here just a little while ago, it was interesting, because most of that was focused toward china and what to do about china and the trade deficit there. so you've got a lot of regional issues in that area that the president, his administration
are talking about on this day. north korea, china as the south korean president is here at the white house, and we believe this should be starting within a few minutes here, stuart. stuart: okay, blake, we'll be back to you very shortly. michael malice with me. kim jong un, the dear leader -- >> the dear leader with the father, kim jung-il, and the great leader with the grandfather. stuart: what is kim jong un? >> he's marshal. stuart: all right. marshal kim jong un. >> yes. stuart: he's obviously aware of american politics, acutely aware. >> yes. stuart: i'm sure he receives daily briefings on how things stand. he must be aware of president trump's difficulties. is he trying to exploit them? >> i think what he's more aware of is, look, president trump's doing a tour of all his enemies, meeting with the japanese prime minister abe, and all of them are saying we're discussing the north korean problem. so if there was someone i hated and they're meeting with every single one of my enemies, that's
going to make me paranoid and get into my head. i think president trump, he's very good at playing mind games, and he's really gotten into kim jong un's head which is a great way to -- stuart: wait, wait, repeat that. you think our president has gotten inside the head and has gotten to marshal kim jong un. >> oh, there's no question. first of all, he should be paranoid because our force is so much stronger than theirs, but if there's a bunch of people that you hated and someone is meeting with them individually and parading them in front of the cameras, you start to wonder, hey, are they conspiring against me? when you're the top of north korea, you have to live in fear of a conspiracy to take you out. these people with murderers who kill their own. stuart if push came to shove for whatever reason, can you see kim jong un launching rockets across the demilitarized zone and hitting seoul? >> oh, absolutely. if they're going down, they're going down hard. one of the mythologies when kim jung-il was up for the
leadership post, he said if we lose, north korea will destroy the world, and he said spoken like a supreme commander. we had george washington with the cherry+ee? the basis of their mythology is we are going to kill everyone if we go down. this is very much part of their mentality. plus, we're told that we started the korean war, and we've been waiting 60 years to finish the job. everyone in the country is waiting for the so-called u.s. imperials to kill them all. stuart: i read read a report just the other day suggesting some market-oriented reforms had come to north korea, private farming, that kind of thing -- >> correct. stuart: is that accurate? >> since the '20s and the government wasn't able to send food to people and the people who are most loyal to the regime were the first ones to starve because they thought food was coming any day, now you have this cynicism toward the government, and you have private markets and black markets and bazaars. and the government has to allow them to exist, because otherwise
people are going to be starving even more. basically, you have to bribe the policemen. it's kind of like a tax, and they have trade that way. they have no choice but to allow a bit of capitalism into their country. stuart: robert charles, weigh in on this, please. a year from now does kim jong un still rule north korea? is it still the same old-same old? >> you know, i think there's pressure on him like never before, and that is a direct attribution to the trump administration. what it looks like in a year, i can't tell you. i would disagree with ann coulter, i think deterrence of any activity that's adverse on that peninsula is beneficial to the united states and to south korea. economically and from a security perspective. so by way of example, i think the president probably is privately pressing the south korean leader to knock off, stop all the chinese, cheap chinese steel exports to the united states, and in turn -- which, of course, helps us economically from a jobs perspective, but
he's also encouraging them probably to knock that off in order to put pressure on china so that they will turn around and put pressure on north korea. it is not in china's interests to have a war on that peninsula. it is not in our interests or the south korean interest, obviously. but i think net-net you're going to see an increase in the pressure on north korea. where that pressure then -- what kind of change that produces isn't clear, but he's clearly getting desperate. look at the variety of things he's saying. in the last three months versus the last five years, you can see there is a real spike in his concern about the future. and that's a good starting point, because if china can put pressure on him, on the entire regime, it clearly leads to change. stuart: okay. >> what that change looks like is anybody's guess. stuart: yes, it is. ann coulter, big picture for a second. you just said more than troops shouldn't be in south korea. are you an isolationist? >> well, i notice your guest
just claimed he disagreed with me but seems to agree with me since all he's suggesting is an economic deterrence of china. i'm all for that. but also agrees that it's in no one's interest to have war. it's absolutely not in china's interest to get rid of kim jong un. it's absolutely not in south korea's interests to get rid of kim jong un. it's certainly not in our interest to have our troops there. stuart: you know, it's very interesting -- our heated discussion can has been about north korea, kim jong un and what we're going to do about it. what you're about to the the see in the rose garden is the two presidents from south korea and president trump, and they're going to talk about trade. here they come. we're going to listen in and watch what's going on there. the rose garden. >> thank you very much. melania and i are honored to welcome president moon of south
korea and his lovely wife, madam can kim, to the -- madam kim, to the white house. mr. president, let me be the first to congratulate you on your election, tremendous election victory. and also the people of south korea for providing such an incredible example of democracy for the world to see. it was very exciting, i must say, and congratulations. this morning president moon and vice president pence laid a wreath at the korean war veterans memorial to commemorate the 67th anniversary of the korean war. it was a beautiful ceremony. we will never forget that americans and koreans bravely fought and died together for a free korea.ç to the korean and american veterans of that war, great
people. we are eternally grateful for your service and for your sacrifice. more than six decades after our partnership was forged in the fires of war, the alliance between the united states and south korea is a cornerstone of peace and security in a very, very dangerous part of the world. the link between our countries, cemented in battle, is now also tied together by culture, commerce and common values. together we are facing the threat of the reckless and brutal regime in north korea, the nuclear and ballistic missile programs of that regime require a determined response. the north korean dictatorship has no regard for the safety and
security of its people or its neighbors and has no respect for human life. and that's been proven over and over again. millions of north korea's own citizens have suffered and starved to death, and the entire world just witnessed what the regime did to our wonderful otto warmbier. i thank president moon for expressing his condolences on the travel the i of otto's -- travesty of otto's death. our thoughts and prayers remain with his wonderful family. the era of strategic patience with the north korean regime has failed. many years and it's failed. and frankly, that patience is over. we're working closely with south
korea and japan as well as partners around the world on a range of diplomatic, security and economic measures to protect our allies and our own citizens from this menace known as north korea. the united states calls on other regional powers and all responsible nations to join us in implementing sanctions and demanding that the north korean regime choose a better path and do it quickly and a different future for its long-suffering people. our goal is peace, stability and prosperity for the region. but the united states will defend itself, always will defend itself, always. and we will always defend our allies. as part of that commitment, we
are working together to insure fair burden-sharing in support of the united states military presence in south korea. be burden-sharing is a very important factor, a factor that's becoming more and more prevalent certainly in this administration. we're also working to create a fair and reciprocal economic ecc relationship from when the u.s./korea trade deal was signed in 2011 to 2016. you know who signed it, you know who wanted it. our trade deficit with south korea has increased by more than $11 billion. not exactly a great deal. i was gratified to learn about the new investment south korean companies are making in the united states. this month -- [inaudible] is sending its first shipment of
american liquified natural gas to south korea in a deal worth more than $25 billion. it's great. m we will do more to remove barriers to reciprocal trade and market access. we talked last night and today about some tough trade issues like autos and steel. and i'm encouraged by president moon's assurances that he will work to create a level playing field so that american workers and businesses -- or and especially automakers -- can have aç fair shake at dealing with south korea. south korean companies sell cars in america; american companies should have that same exact privilege on a reciprocal basis. and i'm sure we'll be able to work that out. in addition, i have called on south korea to stop enabling the
export of dumped steel. these would be important steps forward in our trading relationship, very important steps. they have to be made. not fair to the american worker if they are not, and they will be. our teams are going to get to work on these issues, and they're going to sign a deal that's great for south korea and great for the united states. mr. president, i'm thrilled that you are here today and deeply honored that you choose to go to the united states as your first foreign trip as president. i greatly enjoyed our dinner last night and the many productive discussions that we've already started having today. i look forward to working with you for years to come, to strength aren our alliance -- strengthen our alliance, protect
our citizens from common threats and deepen the enduring bonds of friendship between americans and the great people of south korea. thank you very much. president moon. thank you. [applause] [speaking in native tongue] >> translator: president trump inviting me to the white house and extending me such a special welcome. when i was elected president last month, president trump was the first foreign leader to give me a congratulatory call. after going through such a tumultuous journey, the korean people finally achieved victory.
the words of president trump conveyed the warmth of the american people's hearts for what we have accomplished in korea. for tribulations and adversity we have surmounted, for freedom, democracy, peace and prosperity towards which we have walked together, for all the great alliance you gave your consolation and support. once again, let me take this opportunity to thank you, mr. president and the american people. in my first foreign conversation with president trump last may, he came across as a man of determination and pragmatism, leaving me a powerful impression. and yesterday and today i had a candid and lengthy conversation with president trump, and i was able to prove myself right. from developing the alliance resolving the dprk's nuclear issue to building lasting peace on the peninsula, i affirmed president trump's unswerving commitment, and we were able to build a broad consensus.
during my visits -- [inaudible] president trump and i were able to forge friendship as well as deep mutual trust. as we endeavor to tackle numerous challenges ahead of us, this will give us a solid foundation to rely on. first, president trump and i agreed that only strong security can bring about genuine peace. [inaudible] u.s. posture through -- [inaudible] we concurred to strengthen our -- [inaudible] the threat and provocations by the north will be met with a stern response. the gravest challenge confronting our two nations is the nuclear and missile threat posed by north korea. president trump and i decided to place a top priority on addressing this issue and coordinate closely on relevant policies.
to this end, our two leaders will employ both sanctions and dialogue in a phased and comprehensive approach, and based on this, we both pledged to seek a fundamental resolution of the north korean nuclear problem. the north korean nuclear issue must be resolved without fail. north korea should by no means underestimate theç firm commitment of korea and the u.s. in this regard. i also urge pyongyang to promptly return to the negotiating table for denuclearization of the -- [inaudible] national security leaves no room for either compromise or concession. on this to occasion the u.s. and president trump's firm resolve for the alliance is noted with great appreciation. the republic of korea, for its part, will strive to strengthen our combined capability while
statement pursuing defense reform, build up its own capacity to defend itself. as we undertake these operations, defense technologies, i hope, will gather further traction. second, economic partnership between our countries forms an essential pillar for future development of the alliance. we both agreed on this view. economic growth and job creation will be promoted to insure our peoples enjoy greater mutual benefits through the collective efforts we committed to make. third, as we fight against terrorism and other global challenges together, the rok/u.s. alliance as agreed by ourselves will be broadened and developed into global partnerships. as we move forward, our two nations will work towards establishing high-level mechanisms in diverse areas of interest. to make it happen, concrete actions will be formulated in close consultation. i would like to take a moment to
convey my heartfelt sympathy and condolences to the american people and the bereaved family grieving over the death of mr. warmbier. the -- [inaudible] is to defend itself people. i deeply sympathize with americans who are saddened that they were not able to defend their fellow citizen. as a former human rights attorney myself, i am keenly aware of the significance of human rights as the universal value of humanity. to make sure such tragedy never repeats itself, our two nations will cooperate with the community of nations to promote human rights in north korea. i also invited president trump to visit korea this year, and he graciously accepted my offer. mr. and mrs. trump or's visit to korea -- trump's visit to korea will once again demonstrate not only our friendship, but also the intimate bond our peoples
have come to foster through thick and thin. your visit will become yet another milestone in defining our partnership. i will see to it myself. once again, mr. president, i give my sincerest gratitude to you and the first lady for such warm hospitality. thank you. [applause] >> thank you, everybody. thank you very much. [applause] [inaudible conversations] stuart: it was agreed beforehand that there would be no questions. nonetheless, the media shouted those questions. but as you just saw there, the two presidents walked away, no answering any questions whatsoever, no response whatsoever. bottom line, president trump talked about the future of north korea. they want a different future for
the long-suffering people. president moon suggested that president trump had been candid in lengthy conversations with him. that wraps up the joint appearance moments ago in the rose garden at the white house. my time's up. neil, it's yours. neil: stuart, while i still have you, i'm not quite sure your position on this tweet thing. [laughter] just want to check. stuart: do you want 30 seconds on it? neil: no, no. just seeing how you're doing -- stuart: are you cutting me off? [laughter] neil: yes, i am. because when you get mad, i get very scared. stuart: i'm not mad. i'm disappointed. neil: you know what? i'll hear you on that. i think so too. because every minute we're talking about, like you said, is a minute that we're not talking about that agenda that is decidedly more popular. i guarranty you, it will not be discussed what you just left, this summit meeting at white house. won't get much coverage either because of that. thank you, stuart, very, very much. we are on top of these