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tv   After the Bell  FOX Business  April 6, 2018 4:00pm-5:00pm EDT

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what is your reaction to the market? >> i think it is about trade, not the economy. [closing bell rings] employment report was not scary. what you worry about is trade. liz: vince reinhardt, all of our traders, charlie gasparino, that will do it for us. crazy friday. lauren: crazy friday. the dow climbed 200 points last hour. capping a wild day and week for the markets. the blue chips snapping a three-day winning freak on fears of a trade war with china. we're down sharply 576 points. we were down more 760. you're laughing but it is true. all end the week lower. despite three big days of rallies. i'm. lauren: simonetti in for melissa francis.
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>> neither david nor melissa could stand out so they're boat out. all stocks closing close in the red dow jones industrial average is down 73 points. over last three days we gained 800. we have given a lot of that back. nasdaq also under pressure. 9615, i'm sorry 6915 is were the nasdaq is finishing. with that, keeps it positive for 2018. we were looking for 6903.
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that would put it in the negative. there is indication there are jitters on wall street. gold moved to the upside. bond yields dropped. hear is look at the weak right now for the dow, nasdaq and s&p. all to the downside. nasdaq worst of the bunch. nasdaq down 2.1%. s&p down 1.3%. biggest losers for the week, intel cisco 3m. fang, everybody loves "fang" stocks. we're down the fifth week in six. back to you. connell: nicole, thank you. president threatening another 100 billion in tariffs on chinese. beijing is standing firm in the first stages of the trade war.
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the country says they will fight at any cost their term. fox reporter hillary vaughn on a busy friday joins us from the north lawn. hey, hillary. reporter: we sat in on a pen and pad meeting with trump advisor larry kudlow. he is pushing back that this is president's fault. he said blame china. china is the problem. it is time for china to stop acting like it's a third world country. those days are gone. they are a first world country. they have to act like a first world country and they have to play by the rules. they have to have rules like all other first-world countries. the president's decision to double the tariff threat from 50 to $100 billion because china's response to the initial warning shot was highly unsatisfactory. he also said there are all kind of back channel communications happening right now between china and the u.s. and that tariffs are not the only thing the president is using to needle
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chinese negotiators. white house press secretary sarah huckabee sanders reminding nothing is set in stone yet. >> we're focused on long-term economic principles. be clear the tariffs we're talking about with china are not implemented and are months away. we'll continue to push forward on long-term economic principles but at the same time we will not allow a country like china to have the unfair and illegal trade practices. reporter: we got more details how this tariff proposal is going to progress. kudlow says we're in what he calls announcement period. phase two is public discussions. phase 3, the president will take everything into consideration. then actually make a decision but it is going to be months before the president pulls the trigger on any type of tariff yet. the message from the white house is that this trade deficit, connell, has been bubbling for decades. past presidents including clinton, bush, obama have not
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had success. so they're switching up the playbook and deciding to have these discussions out in public even if that means that wall street feels the growing pains of all of this in the meantime. connell? connell: they know that. the kudlow comments are interesting, thank you, hillary. president's on comments are quite interesting as well. he was on the radio this morning on a new show here in new york, a couple of friends of mine and his, bernie and sid on the morning show. he talked about how there might be a little bit of pain but in the long run it is all worth it. here is what he said. >> the easiest thing for me to do is close my eyes and forget it. if i do that i'm not doing my job. i won't say there is a little pain. the market has gone up 40, 42%. we might lose a little bit of it but we'll have a much stronger country when we're finished. connell: to our panel on this.
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michelle gerhard, jack hough from "barron's" and. michelle, let me report on the larry kudlow comments and president's rashes we listened to there. this whole process if you call it that will take a long time to play out, right? a number of months. how do you view it? >> it will take a long time. it may not actually come to fruition. importantly the tariffs talked about thus far where we have details you see concerted effort to stay away from those products that would very directly impact the consumer. and so in terms of the economic impact on the consumer at the moment that threat appears to be somewhat limited. look, i'm going to hope what larry kudlow is saying is right. that this is part of a longer, bigger negotiation which is as much about intellectual property
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rights as it is about the trade balance. there is a lot of talk going on behind the scenes. in the end, it is isn't months we have to worry about. that none of this will actually end up coming to fruition. these worst case scenarios of a trade war will actually fade away. connell: maybe. obviously, jack, that is what everybody hopes for, but even to the president's point, he is, there is a little pain. a decent amount of pain and a lot of uncertainty for us to play in the meantime. even that 100 million-dollar announcement came out of left field, right? >> he is trying to show the chinese how tough he is kicking my 401(k) below the belt. i'm intimidated. i don't know about the chinese. the president saying stock market is up 40%. last year we were under obama budget, obama tax plan, obama trade deal. this is the year of the trump economy. he watches stock market see how he is doing. i'm watching. connell: you know what? you have to live with it on the
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way up and live with it on the way down, if you brag about it on the way up. i get that. carol, your thoughts whether it is counterproductive and it works out in the end as michelle hopes and larry kudlow claims it will? >> the intellectual property issue is a tremendous issue. this is the biggest issue. connell: is this the way to go about it, at tariffs or by a coalition of the willing larry is talking about? >> i'm not afraid it is and it is getting lost in the sideshow. don't forget what you're talking about a trade war we're not just talking about direct impacts from tariffs. we're talking about a lot of businesses in the based in the u.s., and have futures hanging on doing business in china. things like starbucks or yum brands or even apple's manufacturing over there. china could come in and start messing with those businesses. we have gee owe political issues
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we need to look at. china could have issues with north korea. they could get tougher on taiwan and south korea. so just the tariff piece of this, as scary as that is, what, that could end up basically i will booing into, i think -- boiling i think a bigger issue and maybe we get political theater, everybody comes back and we sort this out and intellectual property still doesn't get dealt with. lauren: just not trade impacting markets. we saw slower job growth. the economy adding disappointing 103,000 jobs in march after months of gains. let's go to adam shapiro with a busy day in washington, d.c. good to see you, adam. reporter: good to see you, lauren. 103,000 jobs created in march after several months of much stronger job gains although january and february were revised down for net loss of 50,000 jobs. unemployment held steady at
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4.1%, the participation rate, it held but fewer people in the labor force with 158,000 dropping out. then you had the revisions i mentioned, the 50,000. the earth issue on everybody's mind are the potential tariffs and trade war with china. jerome powell, the federal reserve chairman was speaking in chicago today. he talked about everything. he talked about wages. he talked about inflation. he talked about gradual increases for interest rates and he talked about tariffs and a trade war because he was asked about it and here is how he responded. >> people really don't see yet any implication in the near term from the outlook. that they will come into effect and how big will timing of it be. really too early to say. we did hear from a number of business leaders, changes in trade policy became a bit of a
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risk to the medium-term outlook. reporter: want to reiterate that the chairman did say that the fed's approach to the gradual rate increases was the right approach. no hint they would slow down on that front. back to you. lauren: adam, thank you very much. let's go back to michelle gerard. i want to talk about what powell said and jobs report the headline number, what do you make of this jobs report overall, michelle. >> i want to stress i know that the 103,000 jobs gains was so disappointing, take into account for the strength over last couple months, even with the downward revisions, average payroll growth first three months of this year, in excess of 200,000. better than what we saw over the course of 2017. that would put us on track to add 2 and 3/4 million jobs this year.
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that pace is more than sufficient to keep unemployment rate pushing down and this is impressive this late in the economic cycle. i don't want people to become overly focused on march report signaling weakness. it is not there when you look at underlying trend. lauren: not to mention, jack, we had bad weather in march, four noreasters. do you think the whetherrer could have an effect. >> the job growth has been pretty good. i want to point out when we talk about the idea on tariffs it could be months still before these things take effect, let's just remember, crop prices can move today. stocks prices can move do. farmers can start getting hurt right now. some of the wealth effect can come out of the economy right now. we have to be careful pretending there is no cost to talk in the near term. lauren: a lot of people like to point out carroll, this is still a negotiation. the talk of tit-for-tat between the tariffs but it is moving
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markets quite frankly, all sorts of markets. making investors very nervous. they put larry kudlow out day after day to try to calm things. it doesn't work today. he said a couple things that really made an impression on me. first of all, trump will impose sanctions, if china doesn't change their ways. that's number one. and our major trading partners are behind us on this. are they, carol? >> well you know, it is interesting, we heard one thing from larry kudlow. we heard sort of a different thing from steve mnuchin. at the end of the day we know president trump does what he feel like he is doing. despite larry kudlow that doesn't dictate what the outcome may be. the trading partners may behind us but maybe they get a better deal somewhere else. the key point jack made, they are makes business decisions today based on rhetoric whether
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true or not. that could affect earnings in the future. he needs to get it sorted out now and not later. lauren: i will let you wrap this up, michelle, what if the negotiation for the president doesn't pan out? all the good things we saw in the economy with tailwind of tax cuts and deregulation, what if the potential trade war cancels all that? >> depends on the cope of the actions. i mean we, we pivoted, let's all admit, global trade war, we were talking about broad-based tariffs across different trading partners. it is becoming more focused on china. it is becoming more focused on goods that are not as significant in terms of the consumer sector. it is becoming, the tariffs that we're talking about thus far are more targeted. i don't want to downplay it. obviously as you pointed out, tariffs are a tax. we have enjoyed the tax cuts. we don't want to obviously undermine that with tariffs.
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so i don't want to downplay it. ultimately it will depend how broad and far-reaching these go. it is very difficult at this point for anyone to determine but that will drive economic impact. lauren: guys, thank you very much. >> plenty of uncertainty, no doubt about it. that gets us to the weekend but here is teddy weisberg to tell us the sun will come up and market have at opening bell, monday morning at 9:30. you look forward to coming to work monday morning or what? >> i look forward to coming to work every day. connell: you have been through a lot of crazy days. interesting it happens going through a weekend. >> right. connell: we talk there is so much uncertain i more than ever the president came out, i thought that announcement more than others, that seemed to come out of the blue, out of left field. no products attached to it like previous announcement. he wanted a round number and to get people talking and well, he got people talking.
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what did you make of it? >> i think it caught folks a little flat came on back of two up days in the market. this is very unsettling in my opinion. it is cliche, everybody says it, most people don't know what to do about it. but all uncertainties weighing on the market. all the volatility is a by-product of uncertainties. we went through eight years of a pretty anemic, slightly positive economy with the fed telling us meeting after meeting after meeting zero, everything is fine. we're talking our time. eight years of basically not a lot of, not a lot of surprises. now all of a sudden a market trading at or near the all-time highs. we're getting a lot of surprises. connell: right. >> not auld of them good. the market and volatility telling us it is untom for thible.
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connell: jack hough made a very good point if people haven't seen jeff flock's reporting, we're having him on stay tuned later this hour. with the pig farmers out in the midwest. talking about how to jack's point which he said all this matters now all the prices in markets, not just stocks but commodities, a lot of things, they're trading up and down now. some of the tariffs have gone into effect. 3 billion china put on us for steel, aluminum in response. all this, teddy happens in real time. monday morning we could react to tweet or something we don't know about, could be resolved in six months. but real time people lose and make real money. how do you handle it? >> very simplistically this is what investors are trying to wrestle with right now therefore all the volatility. connell: yeah. >> basically what we're doing for our clients and ourselves
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that we're not smart enough to figure out what is going on here? >> nobody is. >> unfortunately they will find out the hard way. for us having done this too many years, when you don't know what to do, it's a little scary and a lot of volatility, not not necessarily liquidate everything, put money in the mattress, this is time to build cash reserves, not try to pick bottoms or swings if you will. let other people do that the dumb mortals, get out of the way. let the dust settle. we'll live to play another day. the sun will come out tomorrow. connell: there was a song about that once. thank you, teddy. see you monday morning. lauren: commodities moving big time this week.
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fear of a trade war breaking out and more rate hikes, we heard from the fed and jay powell. phil flynn from chicago. phil, how are oil and gold doing today? >> gold got smashed or oil was doing good until the trade war kicked in. we were down to $63 a barrel. a lot of traders thought we wouldn't see that. they thought we wouldn't see that because the demand for i will is through the roof. we're selling off on the stock market. we saw a flight to walt on gold. if you separate trade wars stuff. record supplyings from refiners. biggest draw down of oil the entire year.
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this is all lost in the fear trade. how do you separate what is going on today versus the fear of what may happen tomorrow? i have. i think teddy weisberg is right. lighten up a little bit, don't take your eyes off the prize. when you get fear trades, they are the best opportunities of a lifetime. when we see that, you know, you really have to just keep a cool head. lauren: determine the health of the real economy despite distractions i suppose. phil, have a good weekend. >> you too. connell: we have perspective from a lot of people. tim cane, former senior fellow at hoover, the hoover institute. talk about the economy a little bit as opposed to your race. i suppose that is okay. >> sure. connell: fine if you must. the tariffs, with jay powell he was asked about the impact
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economically, forget the markets for a second. we see gyrations and uncertainty in markets. he was asked about impact on the economy. he said it is early for that although we're starting to hear from some people they're concerned about it. what about the economic impact of all this given it is so uncertain that we don't know actually what is going to happen? >> thanks for having me on. i'm happy to talk. when my voters here in ohio vote for tim kane, they're voting for an economist who will fight against tariffs. tariffs are a bad idea. connell: right. >> we're not looking at tariff trade war here. we're looking at a bad actor trying to steal intellectual property. chinese trade practices are deeply unfair. connell: right. >> even though one in three areas here are planted for export we don't want to risk that. we can't give away, the latest report, $50 billion a year we lose in intellectual property. we have to guard that too.
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this is long-term insvelte growing in the future. i don't frame it are tariffs good or bad? of course they're bad. we need fair trade with china particular. connell: if you say of course they're bad, isn't there another way? larry kudlow is talking about this coalition of the willing. give him 24 to 48 hours. give us the time. they will put together coalition of countries. they will be on board with us. are they on board with tariffs. on board with going to the wto with a complaint? is there better way doing this, if everybody knows, to use our word, tariffs are bad? >> i think we're so far away from a trade war, that gets spoken about a lot. i heard earlier today on this show. maybe a trade battle, maybe a trade battle. connell: whatever the semantics. there are tariffs in place, threats of more. however you define a trade war. whatever the case may be, is
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there better way than tariffs to get our intended result, get at china for cheating all these years, especially on intellectual property? >> this draws really important attention to a harm that has been done. intellectual property is deeply important here in ohio. most of the businesses in my district are services oriented. there will be short term pain but we have to have this fight. that's what i said, i would rather have battle now than a trade war later. connell: i understand you're running for congress. you're for it for some rays even though you're opposed to tariffs? >> can i -- connell: real quick. >> this is my flyer, these are my issues. articles that i have written. number one in here, i think ways to destroy the economy. number one on restrict trade. connell: tariffs. >> restrict trade. connell: you're willing for this fight, might tell me how the midterms play out. >> this is the key to
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negotiation. you can't get china to take you seriously unless you're serious, we'll not do this kind of trade because it isn't free trade. connell: this will be a big issue in your race and other races as you know. thank you for coming on, especially with your experience to talk about it today. thanks a lot. tim kane running for congress. lauren: >> thanks a lot. lauren: facebook coo sheryl sandberg just wrapped up a interview with fox news's dana perino. how they will handle your information and how the company moves forward. plus slapping new sanctions on rush. connell: how the trump administration is getting tough on oligarchs. punishment and fallout from all of that when we return.
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middle of week, ending the week in the red. tech stocks took it the worst. down 2% for the week. after everything else the dow only down 170 week. now this. >> we know at facebook we could not use enough to protect people's data. i'm really sorry for that. mark is really sorry for that. we're taking strong action to get ahead of problem. we have 10,000 people working in safety and security at end of the year. we're more than double to 20,000. mark is happy to go to congress. mark wants to answer every question we have about the service we offer. lauren: dana perino wrap ad one-on-one interview with facebook coo sheryl sandberg. dana, i watched your interview live. reftational crisis for the company. this is damage control. do you think it is working?
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>> we'll say. i think it's a whole that we're in. it will take a while. mark zuckerberg will have to testify before congress. i talked to many republicans and democrats in congress. one thing interesting to me, so many people are very mad at facebook for so many different reasons. there is not a lot of consistency. they have to cover the entire gamut. they're talking to many different audiences. one is their users. congress and colleagues. you also have the market. of course i would have to ask you about all of that. given that the tech stocks have been dealing with turmoil of late, they will have to think about that too when he answers questions from them next week. look at what he says to me, when i asked about this company is giving, when they lost track of it. is facebook too big. part of the success, it has two
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billion users. can you hire enough people to keep up with that? >> at our size and scope we have real responsibility. and we know that people have that question and it's a question we're answering. we're ramping as quickly as possible. lauren: yeah you know -- >> lauren, the responsibility -- go ahead. lauren: i was listening to what she said. seems to me after all these years. after all maybe smaller instances they're finally realizing that we operate at a media company when we pack this powerful punch. maybe we should better protect our users all this time later? >> well, the question of whether facebook is publisher, that will certainly come up next week as well. facebook will continue to resist that they say they are providing content, use, availability of the content. but they also did something else. that is very interesting. they have been taking a look at
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cambridge analytica and russia. listen how she answered a question i ask about the timeline and when facebook knew they had a problem with russia. how back did it go? did facebook now in the fall of 2015 facebook had a problem with russians influencing the election? >> we learned about this late. we did not know then. we had seen earlier activity, we published some stuff but we didn't understand the extent of it but now we're taking action. >> that question of the timeline when facebook knew russia was trying to influence the election, you can bet next week, especially members on the democratic side of the aisle, they will be skewering mark zuckerberg why they didn't recognize it sooner. in their eyes a little bit too little too late. lauren: it could be one big expensive problem for them,
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dana, 80 million potential violations and the ftc fine. >> i can't do the math. she is trying to show that facebook does a lot of good things. nobody is disputing that. it does a lot of good things. the company is meeting reality and they will have to answer for that in front of congress next week. lauren: dana, good stuff. thanks very much. connell: howard kurtz, from "mediabuzz," and not lost on us to have media analyst to talk about facebook. that is part of the debate in the dana's show and sheryl sandberg interview. what do you think of a, the interview, and what we should look for next week? >> good questions about dana. glad to see sheryl sandberg on the apology tour. they have a lot to apologize for. facebook has not done enough to protect people's privacy. they're finally admitting it
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now. they should have cracked down earlier. i am happy to see that mark zuckerberg is happy to testify before congress. when he was asked earlier on cnn he didn't get that. connell: what about is it too little too late and how do we measure that? >> facebook knew about the cambridge analytica data breach before telling anybody that is too little too late. when they advertise in the future, political ads, were russian forces or domestic will be checked or double-checked. people will see what they spent. the election ended year-and-a-half ago. why has it taken this long? obvious answer to give zuckerberg a positive talking point when he getting grilled on capitol hill. connell: that will be the appointment television next week. who knows. let me ask but the type of company it is. i said coming to you half a joke, what type of company it is? that is the debate, not only
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facebook but other tech companies are they media companies publishers, if you will, and how much does that matter? dana got into sheryl sandberg for instance on the algorithm that goes into their news feed and how transparent they should be about it. you're a media analyst. where does facebook fall on that spectrum? >> this is my biggest beef, for years zuckerberg claiming to the fiction we're not media company, we're utility like the gas company. it is one of most powerful media companies on the planet. other news organizations depend on traffic, stolen a lot of advertising, stolen, successfully competed, finally realizes like any media company it has to police its content against fraud, propaganda and outright fake news. it can no longer hide behind the notion, no, we don't really do that. connell: you have to look at all the numbers. the how many people got information in the polls about the election. not just facebook, just the biggest of the bunch but
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twitter. >> i understand they're cracking down on fake news and propaganda is a difficult, arduous task. will cost a lot of money, one of the reasons facebook resisted it. it is about time it got serious, because otherwise the government will regulate social media for the likes of mark zuckerberg. connell: quick take, howie, before we let you go, on the other story, that is the president's con formmation, he will once again skip out on the correspondents dinner, the nerd prom there in d.c.? >> that is what we call it, yes. connell: he went to one of the these dinners the gridiron, no, couple years he won't go to the correspondents dinner, does it matter? >> it matters a lot to the 2,000 journalists who will be there. doesn't matter to rest of the country. i'm the least shocked person that the president didn't want to spend several hours being made fun of by a comedian and hobnob with journalists he holds with minimal high regard here in washington. >> minimal high regard. are you still going? >> of course i will be there.
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connell: howard kurtz. lauren: are you going? connell: no, i don't think so. you know me. lauren: we'll work on the invites. connell: i'm the social, you know -- lauren: coming up -- connell: i'm awkward. lauren: as mr. simonetti says, too many jobs, not enough people. a town with too much business. we'll see details in just a bit. trade retaliation hitting people across the country. jeff flock live on the pig farm. connell: of course. ♪
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connell: 103,000 jobs were added in the month of march. that is the smallest gain in six months, there is one town in indiana should not be concerned, because it has one of those good problems, too many jobs. this is a very good story. explain as lot what is going on in the economy today. matt fin joins us from the town in elkhart, indiana, tell us about it, matt? reporter: elkhart, indiana, is the rv manufacturing capital of the world. 6% of elkhart's gdp is manufacturing -- 60. the mayor is trying to fill more than 9,000 jobs from the boardroom down to the factory floor. elkhart, trying to attract these employees and working families and qualified workers with downtown losts, new homes, a 70 million-dollar aquatic center behind us, adding bike trails
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and linking two rivers in a downtown riverwalk. >> we want to have features, amends, that will entice them to not only be individuals to work here, but they want to be permanent residents to have families here. >> move everything to elkhart county, one of the first industries we go is that rv industry and other manufacturing. >> it receives help from generous donors and tax dollars to give the town a much-needed facelift. elkhart is not alone. a lot of towns across the midwest in similar situations in iowa and wisconsin. according to most recent labor department stats, if everyone in the mid weighs was pleasplaced in open jobs, there would be
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180,000 unfilled positions. only place in the country is the 12-state midwest that there are more jobs than job-seekers. connell: good to see you, matt. thanks a lot. good story. lauren? lauren: new pressure on russia. details coming up about the trump administration latest strike against vladmir putin. after my dvt blood clot, i had a lot on my mind. could this happen again? was my warfarin treatment right for me? my doctor told me about eliquis. eliquis treats dvt and pe blood clots and reduces the risk of them happening again. not only does eliquis treat dvt and pe blood clots... eliquis also had significantly less major bleeding than the standard treatment. eliquis had both and that turned around my thinking. don't stop eliquis unless your doctor tells you to. eliquis can cause serious and in rare cases fatal bleeding
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connell: enough with all the losers for now. we have the dow winners for the week. you thought this would be a joke where there was blank screen. you unitedhealth, nike on top as big winners for the week. it is with all the trade stuff. a market of winners and losers. intel, cisco, 3m all ending the week fairly deeply in the read,
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lauren. lauren: white house issuing more sanctions against russian oligarchs and officials and companies because rush show promoted their quote, maligned activities. here is sarah sanders defending the actions earlier. >> as the president has said he wants to have a good relationship with russia but that is going to depend on some of the actions by the russians. we would like to see totality of the russian behave changed. we would like to work forward building a better relationship. lauren: joining me lester munson, former staff director for the senate foreign relations committee. >> hi, lauren. lauren: can you tell me about the relationship. >> it has been strained. this is significant step. follow the trump administration throwing out five dozen russian diplomats and spies.
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they follow between even more steps and hostilities between american led coalition and russian mercenaries. lauren: the president received a lot of criticism is for not coming down on russia hard enough. >> right. lauren: a lot of folks said what he needs to do is target the money, target the power and target the elite and now he has. >> because of a lot of the other news about the mueller investigation and other things, temper seized that the trump administration has not been tough on russia. i think the opposite is the case. the administration has taken the a tough line since he has been in office the past 14 or 15 months. this is the administration that armed ukrainians to fight back against the russians in ukraine. it has taken positive steps but been lost in other news. lauren: how do you expect russia to respond here? >> it will respond in negative way and harm u.s. interests most likely in syria or eastern
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europe. i think there is other steps that the u.s. can do. lauren: like what? >> the sanctions could have been tougher. one thing i look for the administration to start working with our european allies to have them join in with the sanctions and make them multilateral. they would be much more effective if other countries join us. lauren: right. >> i hope the president rhetorically does more to restore human rights. that is president putin's, he was elected in a sham election. the president shouldn't be shy pointing that out. lauren: the action against russia by alleged poisoning of the country on the russian spy and his daughter in the uk, that shows solidarity with the west and rest the world, no? >> it does. it is laudatory. when the president does the right thing, everyone should point out including democrats on the hill, which largely happened
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us you've seen a lot of positive statements where the president's policy is bipartisan consensus how we should approach russia. i think that is all a good thing. one. things the last administration did that was more effective than this one, work in concert with our allies in europe to hem in moscow's bad acts. while the president has taken tougher steps directly than president obama did in a lot of cases, president obama did a decent job getting our allies to go along with him. i think president trump can do that as well. lauren: we'll see. lester munson. thank you. >> thank you. connell: we promised to get out to the farm with flock. that is definitely worth sticking around. he is covering a story at a pig farm. this brings home the story in illinois. jeff is finding out how tariffs impact bottom line. he is next. lauren: hi, jeff.
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here you go little guy.
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lauren: breaking news to get to. in a letter, 64 democrats are calling for firing of environmental protection agency head scott pruitt. amid a growing scandal that a condo he rented below market rates for a lobbiests wife and spending on public money.
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david: we'll continue to watch the trade war fears. we have farmers around the country are starting to get worried that chinese tariffs placed on u.s. pork could hurt their business or maybe already could be hurting their businesses. let's go out to the farm, with jeff flock in illinois with fascinating reports. tell us what you are hearing, jeff? >> it is always great. we have to commend the hog farmers allowing us access. everybody is not good doing that, so i appreciate it, rick. these hogs are ready to go to market. here is the problem. oh, we said tariffs have not taken effect yet. in the case of pork, and 120 plus u.s. products we do have tariffs that have taken effect, that has driven down the price of hogs which is your bread and butter. >> certainly is. we're optimistic that we could have a free-trade agreement with
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china and get this all resolved. we recently did a free-trade agreement with korea, the u.s. >> which is encouraging. >> that is encouraging. the president has people around him capable of pulling this together. i hope we get it done sooner rather than later. >> if he doesn't get it done, he today ramped up rhetoric. >> the rhetoric is getting concerning. if he doesn't get it done it is going to hurt u.s. producers. there are half a million jobs out here. >> i put up, leave with you a full screen quote from the folks at illinois farm bureau. i forgot, you read it on the screen, but you guys worked really hard to make these markets. you have competition around the world. if for some reason you lose this china market, you know, you can't just snap your fingers to get it back? >> it has taken years of work to get those markets established. we got beef in those countries.
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they're servicing it. it is like, we need it now. >> i leave you with over half a million jobs in the pork industry in the u.s. talk about jobs. there are a lot of them here. it is in farm country. that would be trump country. connell: that is the politics. this is the economics. real money, real jobs, real people. happening now, which is a key. great stuff all day long, jeff flock. lauren: woe spoke to a soybean farmer earlier this week on the show, she is losing $100,000. connell: it is already happening. lauren: you thought this week was crazy. what you need to know what is coming down the pike next week. how that could affect your we'll be right back. ... lung function all day and all night.
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lauren: volatility is the name of the game and major news next week could help this trend continue. banks kicking off first quarter earnings season you get citi, jpmorgan and wells fargo. >> and don't forget mark zuckerberg on the hill he's got two days i believe of testimony. lauren: tuesday and wednesday. >> and everybody is talking
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about he will wear a tie i think and a suit. lauren: not a hoodie? >> i don't know but it'll be a very closely watched interview so we'll see. lauren: that does it for us risk & rewards starts now. >> if china lowers its barriers , if china opens market, if china permits investment activity, if china stops steal ing our cheap technology ideas, then we will have more trade between the two countries and we will have more growth. this is all about growth for the united states and the rest of the world. this is a growth directed policy technology is the key to american growth. technology is the key to american innovation. we cannot permit another country , china's not a third world country any more, it's a first world country they have to play by first world rules and we cannot permit them to damage our economy by taking away our value technology that has to stop. liz: stocks under


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