tv Lou Dobbs Tonight FOX Business April 6, 2018 11:00pm-12:00am EDT
"strange inheritance". and remember... you can't take it with you. hans market. here is lou. [♪] gregg: good evening, i'm gregg jarrett in for lou dobbs. president trump taking tough actions to put america's interests first where his predecessors failed. the administration stepping up pressure on china, china vowing retaliation. but the president insisting it will only make us stronger, fixing a problem that plagued american workers and industries for decades. china not the only nation feeling the heat. trump declared no one has been
tougher and russia than he is, now issuing sanctions against dozens of russian companies. taking tough action where previous administrations failed, and the president putting american interests first. we are going to take it all up with ed rollins and gordon chang. growing outrage over the fbi and doj corruption. the department of justice failing still to turn over documents to congress on the clinton email probe, fisa abuse scandals and a whole lot more. alan dershowitz and chris farrell of judicial watch will join me next. we begin with our top story. president trump accusing china of taking advantage of this country. administration threatening china
with $100 billion in tariffs in addition to the $350 billion already announced. john roberts has our report. >> tariffs against chinese and u.s. goods are months away from being implemented. the wild gyrations are driven by nothing more than speculation about what might happen. no one knows for sure about what will happen but clearly the stakes are growing higher. the proclamation from president trump that he's thinking with tariffs on a hundred million a chinese goods took them by surprise. >> when did the president tell you he was going to initiate another $100 billion in tariffs. >> last evening. reporter: an escalating
brinksmanship. >> we already lost the trade war. we don't have a trade war. for many years whether it's clinton or the bushes or obama, all of our presidents before have for some reason, it just got worse and worse. reporter: china has not announced more retaliatory tariffs. but a spokesman sent this warning. >> we do not want to fight but we are not afraid to fight a trade war. china will fight back for sure. china will respond in a new and comprehensive way. china depend on a robust export market to sustain its spectacular economic performance. china's debt has soared to 300% of g -- p because of a lending
binge to spur growth. the white house is enlisting help to put the economic squeeze and beijing. >> just give us 24-48 hours. you will see a trade coalition of the willing to change and get china back into the world by abiding by the laws. president trump: i'm not saying there won't be a little pain. but the market has gone up 40%, 42%. it's something we have to do. reporter: president trump heaped some pain on russia today. the president announcing sanctions against 7 russian oligarchs as well as 7 russian government officials and a bank it owns. >> this is in response to the law congress passed and was signed by the president.
the administration is holding russia accountable. reporter: a statement from moscow says washington delivered another blow on the u.s.-russian relations. but a white house that has suddenly taken a much sharper approach to russia than it did the last 15 months said the ball is in russia's court. >> we would like to see the totality of the russian behavior change. >> on china and trade the chief economic advisor said the central issue is technology and preventing china from stealing china's technological future. kudlow said the u.s. may provide the chinese with a list of suggestions it could like to see come out of negotiations in order to avoid the imposition of
tariffs. gregg: joining me now the best political mind in the business, ed rollins. ed, good to see you. we have lost trillions of dollars over the decade to china. we haven't had a trade surplus with china in almost 40 years. isn't it about time that someone like trump sthood up to the chinese? ed: absolutely. the critical thing is you can't flynn'. once you started this battle you can't pan panic. you have to stick to your guns. you have to make sure at the end of the day your goals and objectives and top this extraordinary surplus they have, slow it down and get a better deal. the president has shown his toughness. you cannot flynn' at this point in time. the reality is the chinese are not going to wave the red flag
either. at the end of the day we'll be better off than we are today. gregg: previous presidents said free market, they own just about all business in china. then they engage in extortion with the united states. we have to turn over our trade secrets. ed: at the end of the day they made great profits. be repaired for a longer battle. and what some of the stock market predictors want. if you are going to get in a fight, you have to be repaired to finish the fight. he's not afraid. i'm sure what happened in the past, they say the elect is coming. you can't do this. i think to a certain extent larry kudlow has had an interesting three or four days
here trying to bring the market back. i think the key thing is he has to hold the president's coat. greg: he's a good guy. let me ask you about the president's actions towards russia. he's being tougher than his predecessors. no one can say this president this the pocket of vladimir putin. ed: absolutely not. there is another country that never played by the rules. unless you show that you have great strength. these are strong men. both xi and putin are strong men along with other leaders that have jobs for life. unless you show them you are tough and you can stand behind your word, you are going to get rolled. and this guy is not going to get rolled. gregg: the president want to be
tough on the border. he finally awakened sessions from his slumber. here is sessions' statement to those who wish to challenge the trump administration, national security, rule of law, i warn you illegally entering this country will not be reward, but will instead be met with the full prosecutorial powers of the doj. ed: it's like giving somebody a parking ticket and tell them to report back to court in four or five months. once they are here, you will never find these people again. there aren't enough judges. judges can't handle the burden at this point in time. at the end the day what you do, you catch them at the border, turn them around and send them back home. >> the back loition astonishing.
750,000 backlog cases. >> with less than 600 judges. even if they work 24 hours a day. you can't get it done. the best thing is stop them at the bored and let them get in line and try to apply for citizenship. gregg: coming up next. gate scape obstruction. we'll take up the case with renowned defense it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from
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dershowitz. professor, great pleasure to have you with us. is it your sense the department of justice and to some extent think they are above the law and don't have to answer to it, or they are engaged in a cover-up of incriminating documents or both? >> it could be innocent as well. these are overwhelming numbers of document. gregg: the subpoena came out 7 months ago. >> you have to make sure they are doing the same thing as they do when democrats and republicans seek the documents. the justice department is in veal trouble because the american public doesn't trust our justice system. they think it's partisan.
gregg: we found out a couple days ago there wasn't just one ordinarier in the appointment of robert mueller for special counsel. one was for public consumption and the other was secret and private between rosenstein and mueller. but neither one of them state a crime as the special counsel regulation demands. >> the second one talks about cluesive activities. where is the statute? in 1815 the united states supreme court rendered one of the most of important decisions saying in america we don't have a common law of crime. you must have a statute. i challenge special counsel mueller, show us the statute. do in the allow any investigation of anybody unless you can point to a specific violation of the criminal
statutory law. otherwise you are looking for political sins, and that's not the job after prosecutor. gregg: this is an investigation in search of a crime. >> special counsel, we are the only western democracy that uses special counsel. whenever you have a special counsel, they are always searching for crime. imagine if they spent all that money and say whoops, we didn't find any crime. >> here is the money question. if rosenstein didn't comply with the special counsel regulation, doesn't that make mueller's appointment invalid? >> the original appointment of a special counsel seems to have satisfied the technical requirements of law. the problem i have is rosenstein make the appointment because rosenstein is not only a
witness, but the key witness. if there are any obstruction of justice charges relating to comey, who is the person who wrote the memo? it is disqualifying in my view. i can't imagine how you can prosecute and be in witness in the same case at the same time. it seems like a clear conflict of interest. gregg: mueller wants to interview the president over his motive or intent in firing comey. the president has constitutional powers to do it for a reason or no reason at all. he can say i am the president of the united states, i acted within my authoritying with you have no right to question my actions just like the constitution says you can't question a senator for his or
her vote, you can't question a president and ask why. if you ask a president why he sent trooppeds, his truthful answer might be i'm hoping to get a book contract when i finish my presidency. you can't start probing presidential motives. there is no end. everybody has multiple motives. gregg: what if mueller wants to ask you about collusion? on that basis, does mule i are have the ability to question him about collusion? >> i would make a different argument. i think collusion not being a crime is not within the jurisdiction of the special counsel. it doesn't have a roving commission to look for political sins. it can only look for federal crimes. i don't think he can question somebody about something that won't lead to criminal
investigation or prosecution. gregg:rrp alan dershowitz, harvard professor, his book is "trumped up." cast your vote on twitter @loudobbs. upon wall street, stocks selling off at a volatile trading session. nasdaq dropping 148 points. the dow off 3/4 of a%. the s & p down 1.38%. the economy added 103,000 jobs
in march. unemployment held at an all-time low. just a reminder, listen to lou's reports on the salem radio network. president trump: no president wanted to go against china economically. and we are going to do it. you have to go after the people that aren't treating you right. gregg: we'll be take up the president's fair, reciprocal president'how do you win cal at business? stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com
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china has laid claim to nearly 90% of that busy asian waterway. joining me to talk about it, gordon chang. gordon, great to see you. is that a belligerent act what they are doing? they are claiming sovereignty over most of of a vital trade route. >> certainly vital. people say $a trillion of commerce over the south china sea he year. we are talk about a lot of goods that transverse the south china sea. what china has done in these drizzle, they lined up their ships like they did in the 19th century 2 x 2 and the. you is to intimidate.
gregg: do we need to just maintain a presence? >> we need to do more than maintain a presence. we need to take back the area china claimed in early 2012. the obama administration didn't stop the chinese from doing that. and what happened? china just increased its ambitions after that, pressuring island in the south china sea and east china sea and pressuring japan. there may be some pain in the near term, but the acts of china
have been for so long so malicious and damage together u.s. economy, is it right that the president is taking action? >> it's absolutely right. there are a lot of people equitabling over his tactics. but the important point about this president is he's fighting back. this is important because the chinese have been maliciously taking up seattle intellectual property and doing other thing to undermine the u.s. economy and countries have tried to have dialogue with the chinese. the u.s.-china business council, just a few hours ago called for dialogue. if you call for dialogue there's going to be no disruption in the economy. we just get stalled and the
chinese continue to steal to the united states. gregg: i pay no attention to any organize that end with the word council. that includes the special counsel which is spelled differently. but it's a council nonetheless. do you envision a trade balance or surplus sometime in our lifetime? >> it could very well be. but right now it's going in the wrong direction. the deficit has gown, not down. it's a little bit less if you include services because we have a smaller advises surplus. but this merchandise deficit is gregg all the time. the problem is because of china's predatory tactic and the failure of the u.s. to do anything about it. gregg: will the tariffs work?
>> they will work if they are big enough. he year they are getting 100s of billions of intellectual property that they just take. it's extortion, thievery, cyber attacks. the i.p. commission estimates the u.s. annual loss of i.p. is $225 billion to $600 billion. most of of that is lost to china. china need to hurt. gregg: the president is moving in the right direction. gordon chang. thank you. good to see you. coming up, serious questions about the prosecutor attorney general jeff sessions picked to investigate the fbi and -- oj. we'll be talking about whether john hire is up to the nick was born to move. 3 toddlers won't stop him.
joining me now is chris farrell. i said that the same day that huber's day was revealed to shannon bream on fox news. it's clear to me that this was all just engineered by rod rosenstein to placate members of congress and those who have been critical of the doj. >> it's the usual condescending pat on the head. to read the announcement letter the attorney general sent over to grassley and goodlatte. the three congressmen who were addressed in the letter. he uses every word except investigate, prosecute. it's all he'll review and consult. he's in utah where all the
witnesses and document are in washington. >> as the source for the report said, it's window dressing and eye wash. gregg: do you think jeff sessions is in on it or is he so clueless that he doesn't know the wool is being pulled over his eyes. >> i'm not comfortable commenting on that. but all i know is the outcome is pathetic. gregg: congress 7 months ago subpoenaed documents from the department of justice and fbi. now they have just a fraction of those documents. is this sort of a classic cover-up of incriminating information? >> virtually guarantee it. they are in cover-up mode. my remedy is for those
congressmen who have particular knowledge of what's gone on, they know a lot more than they say. so many of these could develop a spine and go down on the floor of the house and on the record, under the rules that allow them to go out and start telling the truth now and embarrass and force justice and the fbi for that matter mueller to come clean. they know more than they are saying. all the fun and games. time's up. we need to break the logjam and get the information to the public now. gregg: one of the document that's pretty critical comes from peter strzok who opened and launched the trump investigation by signing the papers and he's virulently anti-trump and he's been kicked off the special counsel team as a result of
that. but one of the communications that's heavily redacted. what do you bet there is bad stuff in that e.c. they are trying to hide. here is another one from peter strzok to his lover lisa page. this is coming after a visit to london to interview a witness in the trump russia case. i think we need to consider the lines of what we disclose to doj. last stipulation notes we'll not disclose. think about this. peter strzok and the fbi is hiding information from the department of justice. >> one electronic communication strzok authored, that's the case opening memo. we are opening this case, this is the scope, these are the criminal charges that we envision.
it's the proposed subjects. it lays out the predicate of the investigation. and they are terrified of releasing that. point two regarding the strong text message. they are steering the investigation. they are overtly explicitly gaming the system. why they are not under indictment i still want to understand. i want to know why are they not the subject. >> things will end badly for peter strzok and lisa page, i guarantee it. chris, thanks for being here. have a good weekend. do you believe u.s. trade policy should benefit hard-working americans, not the chamber of commerce and business round table? please roll the tape.
a record-setting stunt high above germany. this daredevil becoming the first person to balance on a slack line fearlessley traversing the 500-foot slack line. president trump is blasting congress for failing to fund the wall. we'll take up the crisis on the border with former congressman feel the clarity of non-drowsy claritin and relief from symptoms caused by over 200 allergens. like those from buddy. because stuffed animals are clearly no substitute for real ones. feel the clarity and live claritin clear.
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national guard members. arizona's governor says 150 guard members will be deployed. president trump says between 2,000 and 4,000 national guard troops is a good first step. joining me, former republican congressman jason chaffetz and fox business contributor. >> congress failed him by giving him a bill that didn't have the appropriate funding for the border wall. but putting troops on the bored. this president is serious about locking down that border. he has three good governors who will back him up. governor doocy in arizona is back him up on doing the right thing. gregg: the top officials at the
fbi and department of justice have become the most of corrupt organization in america. >> it is discussing. i issued a subpoena in 2016 for documents they never gave us. devin nunes issued a subpoena in 2017. bob goodlatte issues a subpoena that expired yesterday and they did not provide the documents. they are thumbing their nose at the american people. if the department of justice issued a subpoena on gregg jarrett -- gregg: it's been 7 months since the subpoenas were issues. the americans would like to see the basis for opening the trump-russia investigation without any criminal basis to do
so. there has to be probable cause or reasonable suspicion of a crime. >> it's encapsulated in two pages. when trey gowdy went down to the department of justice to see it, they were redacted. they agreed to allow trey gowdy to see it. he went back down there and it was still redacted. the nerve of those people who have the chairman of the oversight committee go down there andshot not show him what the american people were looking for. they ought to yank jeff sessions and director wray and have them raise 'right hand and explain to the american people why they can't see it. what is it you think congress couldn't see. gregg: it's a classic excuse by
the department of justice. it may be confidential to many americans. >> trey gowdy, devin nunes, they have all the security clearances you possibly could have. they are elect bid their colleagues to chair the committees. the next day he should have been out there trying to hold these people in contempt. but the leadership within the republican party, they don't have the guts to do it. >> should jeff sessions, rod rosenstein and christopher wray be held in contempt? >> if it would mean something. but like we learned with eric holder. for the first time in the history of the united states, the attorney general is held in contempt of congress and it meant nothing. somebody needs to get a backbone. they do not stand up for themselves it's part of the
reason i left it's sow sickening and disgusting it is that congress acts like -- gregg: and corrupt. it's just wrong, so wrong. coming up next. congressman trey gowdy has a lot on his mind as he nears the end of his congressional career. his latest comments are a bit of a head scratcher. how do you win at business? stay at laquinta. where we're changing with contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. i had a very minor fender bender tonight! in an unreasonably narrow fast food drive thru lane. but what a powerful life lesson. and don't worry i have everything handled. i already spoke to our allstate agent, and i know that we have accident forgiveness.
gregg: trey gowdy has been an ineffective congressman during this tenure. >> to the extent men judge themselves based on what they do for a living, i don't have a lot to show for the last 7 years. gregg: do you think, trey? he did question the house untell investigation. he claimed trump was not acting in an as an interest sent person. and voiced support for the mueller probe. go to another barber. joining me, don giordano and
tammy bruce. so what do you make of trey gowdy? >> i think the founders intended congress to be a slow-moving entity. if you wanted excitement you need on donald trump. so it is meant to not be full of flame and fire and action and all of that. the president is meant to be a man of action, to move that slow-moving entity. he's a lawyer. maybe it bench would be more suited for him. but the fact of the matter is we have media constantly making celebrities out of some of these individual. some of them think their job is to pontificate when they should be legislating. we have 7 more months and there are 75 workdays for these individual. gregg: trey gowdy headed up the
legislative committee, you are not going to be sorry to see him go, are you? >> i sort of will. if this is the real trey gowdy that we have seen in recent memory i am not sorry to see him go. i like the guy we saw in the beginning. but i don't understand the turmoil he's creating including telling the president he should testify. that's pretty silly for a top-flight lawyer. gregg: maybe he wasn't a top-flight lawyer. i get whiplash. he's so schizophrenic on issues. tammy, is the house going to change dramatically in the
mid-terms? tap * i thinkd. tammy: i think republicans will be fine. we hopefully have some good candidate. i think we do. but the key for these individual running for the gop is to run supporting the president. this is not brain surgery. his approval ratings are higher than obama's were at the same time. the american people are happy with the results. they need to run with the president. there should be no con pollution and we'll have a good reelection in that framework. >> family referred to it as a generic ballot. in this particular case the problem is acute. there you see democrats leading 46 to 38%. but that doesn't apply to elections in the house of representatives which are
district by district. >> where i am, in my listening area. we have turmoil in the republican party. a large measure of it is they never brought themselves around to get with the president. some of them kind of went on the attack. so pennsylvania which is critical. there is a guy of new jersey who does support the president on the tax cut and the like. these are critical races. i think it's possibly in play for the democrats to take the house. but if republicans run with the president, if they are energetic in their own races, i don't think that will happen. >> they have to, do they not, i was rinsing to ed rollins and he said you have to state you will back president trump's agenda. >> the president made communication specific. you don't have to wonder where
president trump stand. when they hear vacillation or unclear statement they will place into a category where they can't trust you. they understand we won't agree on everything. but the president represents dramatic change during a time of war. and we want people to support him. this mid-term election is the second part of the election of donald trump. we are serious. we have seen the potential. imagine if we have a little bit more support of the president in congress. that's where the republican base has to come out for. >> i do like to look at history. it teaches us something. historically the opposition party in the mid-term does better than the existing party. so in that vein could this be different, this mid-term or will history move us right. >> i think gregg proved it right but not in a tsunami election. the thing that's disturbing to
me that i see with my listeners. republicans are not doing a very good job yet with the tax cut bill. you saw the woman break down in tears with the president in west virginia yesterday. they have tons of stories stock piled and there is a little bit of not connecting the dots. that's the thing to hammer home. tammy: this is clear and it's easy. it's policy that's already implemented and it works. this is where the independent can come over. this is about decision make and action that will have the future look decent again for the average american family. gregg: dom giordano and tammy
bruce, i know you are eager to get back to the t swrrks for the massers. that's it for us tonight. thanks for joining us. texas gover abbott, and and victoria tensing. maria: welcome to the program that analyze the week that was and position you for the week ahead. i'm maria bartiromo. coming up, black stone executive viet chairman tony james my special guest. then we are joined by president trump's newly appointed economic advisor, larry kudlow. gerri willis stand by in the newsroom with the headlines. gerri: another volatile week in washington and wall street. u.s. economy addin