tv Your World With Neil Cavuto FOX News July 6, 2018 1:00pm-2:00pm PDT
players in thailand. we're keeping these stories up for you. when news breaks out, we'll break in. i'm trace gallagher in for shepard smith. "your world" with neil cavuto is next. have a great weekend. >> neil: trade wars on. does anyone really care? because the trade fight now at full tilt as china slaps tariffs on our response to slapping tariffs on theirs. strong job numbers. they were strong. be enough to weather the storm? welcome. i'm neil cavuto. this is "your world." stocks up on signs the economy is heating up. gaining more jobs than we thought in the prior months. just as china is looking at a 25% tax on hundreds of american made products, this tit for tat is getting worse. we're all over it with deidra bolton with the fallout and blake burman at the white house
for the president and his party. we begin with deidra. >> hi, neil. ray dallio runs bridge water. a $122 billion fund, one of the largest in the world. he tweeted this earlier. "today is the first day of the war with china." he just put "war." so the u.s. and china have about $34 billion on each others products. the u.s. placed tariffs on products from china. china placed about 550 u.s. products under tariffs. here's the former prices for strawberries and lobsters. the current ones and what chinese people have to pay. they could get them for $2.69 a pound. now $3.36 a pound. so perishables, consumables a
big part of what china is in essence taxing. the auto industry in the cross hairs. china put a 25% levy on u.s. made cars. the trick is that the supply chain for autos is so interconnected, so international. for example, germany's luxury automaker bmw has a huge manufacturing plant in south carolina. bmw's head quarters is in germany. so much manufacturing is done here in the u.s. bmw says with china's tariff, they can unable to completely absorb the chinese models. they'll have to raise prices on the ones put together in the u.s. ford putting out a statement as well saying for the moment, it's not going to be hiking prices. ford's lincoln models are popular in china. it seems that ford will eat the difference for the moment.
automakers are already dealing with steel and aluminum tariffs in the u.s. so they face this possibility that the president may impose tariffs up to 25% on vehicles i'm pocketed from the eu. that is still in conversation. if you're an automaker right now, you face a great deal of potential disruption, neil. >> neil: hence a lot of their angst and concern. the white house happily in the middle of this and saying that long-term, everything will work out and they will be proven right. blake burman is there with the very latest. hi, blake. >> we're at the white house with kevin hassett. he said that president trump won't back down. he said that the president as he's said simply wants to equal
out the trade imbalance. listen here. >> right now he's called the bluff of other countries that have basically been abusing our firm and workers for a long time. he wants better deals. if you're worried about the short-run stress, the long goal is a worthy one. >> the chinese fired back in the immediate minutes of the u.s. putting on the $34 billion in tariffs by imagining it dollar for dollar. a commerce spokesperson said they had to address are what are counter attacks and fired off this statement saying, the united states violated the wto rules and launched the largest trade war in economic history to date. that is their take. last night at his rally in montana, president trump said that he feels that the u.s. is holding all the cards in this equation. the president told reporters a board air force one that more could be coming down the line. the president saying, and i
quote, as you know, we have $200 billion and then after that, we have $300 billion in abeyance. we have 50, plus 200 and also 300. that's $50 billion that the president is referring to, the $54 billion that went into effect at mid night and an additional did 16 bill that is likely to go into effect next month that is for the trump administration, the u.s. saying that china needs to stop its theft of intellectual property. neil? >> neil: on we go. blake burman, thanks very much. normally this would be a worry to the markets and the economy. did not appear today to be a worry to either, especially given good economic news and surprisingly strong unemployment report that was out or jobs report. better than 200,000 americans finding employment in the month of june. there were some details within that record that were surprisingly strong and pointed to a continued strength that the president says gives us the
advantage in any trade fight. hillary vaughn is here to break it down. hi, hillary. >> the president is celebrating this latest jobs report tweeting jobs, jobs, jobs. the economy is on the longest job-creating streak ever. last month the u.s. continued their historic run, gaining more jobs. in june, the u.s. added 213,000 jobs beating what everyone expected by 13,000 positioned. here's the industries seeing the most growth. health and education adding 54,000. manufacturing with 36,000 jobs. leisure, hospitality, an extra 25,000 jobs. wages stayed flat. up .2%. part of that is because college grads and workers are taking up most of the job openings. a surge of younger workers being
added. they're entry level jobs that don't pay as much. that's tugging on the average. unemployment up. typically that's a number you don't want to see go up, but just rose by a small margin. .2%. what we're seeing is more people joining the job hunt. over 600,000 people started looking for a job in june. not everyone has found a job yet, which is why you see the unemployment rate slightly up. >> neil: it's interesting, too, the prior months shows sustainable job gains here. the 600,000 dipping their toes in the water looking for new opportunities. hillary vaughn, thank you. >> thank you. >> neil: markets are strong today responding to this. they had been stronger. we were up double that what we were, which in the middle of a trade war seems weird, especially when it looks like we and the chinese will be back and forth on this. let's get the read why the
markets responded the way they did. sarge, start with you. let's get your take. why did the markets respond positively? >> for one, we have a hot economy here. i'm sure you noticed the jobs numbers. but two, we have china by the short hairs. they have industrial production in the hole. fixed asset investment in the hole. shanghai composite down 17% year to date. we got these guys where we want them. they hold $118 trillion of u.s. debt. guess what that means? if they don't buy our stuff, it hurts them. they're in a position. if they want to go tit for tat with us, guess what? they run out of ammo sooner than we do. we know that we got them and we're going to win this. people say you can't win a trade war. okay. may hurt short term. give me six months.
we'll see volatility but we're going to win it. by the end of the year, we have capitulation from china, canada and mexico. >> neil: we hope. i don't know. no one is yet won a trade war in history. i guess it's who is hurt the least. i've worried that we unleashed something that will grow worldwide. we started with aluminum and steel and now it's comprising hundreds of different products. what do you make? >> there's no way it doesn't spread. whether it can be won or not, i don't feel there's a winner in any trade war. the end game is slower global economic growth. whether we can outlast china or not depends on the mid-terms more than anything. president trump has some good fire to hide behind with this ridiculously good perfect nonfarm payroll numbers. it's a good thing.
i'd rather see 4%. you look at the steel. now going into canada. canada is getting this cheap steel. what are they do something building a pipeline to the pacific trying to bypass the gulf coast. depends on how this shakes out. you mentioned germany. these things spread. it's the spreading that we can't control. it's not just the $500 billion that we have with china. >> lindsey, how do you see this going? i know a lot depends on how it proceeds, how much it widens out, whether someone pulling some unexpected stunt. what do you think? >> this has to resolve itself sooner rather than later for the markets to be comfortable with it. as of now, we have not seen any of this tariff trade war, trade talk reflected in the economic data. we got great numbers monday. today's jobs report was outstanding. the results will be showing up in july's numbers and therefore
after. the economic impact is supposed to be small so far. but if this escalates to the $500 billion plus that trump was talking about last night, this will be a problem for the markets, for consumers and for businesses. >> neil: to your point, say we survive this and it doesn't drag on long and china, specifically, they're the target right now, they're in a bear markets. their markets are suffered. they're more vulnerable. that's the argument the president has been making. what if it does drag on for quite a few months? >> then i'll be wrong. i believe -- we're still in the negotiation phase and may stay there. what do tough guys do when they talk? when they don't want to fight? they ratchet things up slowly. president trump is talking more tariffs. but in the end, before we get to the 200, the market smells like
they're talking like maybe there's a deal in the works. we saw headlines that canada wants to talk and mexico wants to talk with their president-elect. there's a lot of room for positivity. at least for today, the market agrees with me. >> bob, anything that you see? rightly pointed out that we do have trace tiffs with the canadians and the mexicans, the europeans. obviously we're fighting nato on contributions and member countries, some of them are not making. we have a multi-tiered fights here. does all of that seem like noise to you or what? >> i'm for a lot of the information behind these fights. the things i'm going to watch is next week. remember 2014 when walmart used the word "weather" 20 times. we're going be looking for the
words tariff and trade war and the guidance on the conference calls as earnings begin. >> neil: in other words, using it as an excuse. >> exactly, for lowered guidance. that's when the markets will get hurt. >> neil: lindsey, there's a flip side to this argument. i don't know if it makes sense to you. because of these uncertainties, the bullish argument is the federal reserve is less inclined to raise rates. do you believe that? >> yeah. the wage number was just right. 2.7%. i'd would like to see it higher. the economy can withstand higher wage growth given the slack in the labor market is so tight. we have corporate profitability at levels not seen since 2010. the market is on fire right now. the 2.7 gave the fed a pass. jerome powell came out earlier this year and he said he wanted to get ahead of a heated economy
and significant inflation or wage growth. this had to have made him feel good, this report. so i think that 2.7% was the right number for the feds. >> neil: i wish we had more time. i'm robbing you of that point. we referred to 2.7% wage growth was less than expected. again, we were up 100 points today. there is a group of very loyal trump voters that are in the cross hairs of this. they're farmers. right now they're staying very loyal to the president, believing that this will all work out. but already the prices for the things that they sell, the things that they sell on the global market are tanking. a reads from a congressman that knows first hand after this. ♪ motorcycle revving ♪motorcycle revving ♪ motorcycle revving
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you. you're our president. but we have to get this done in a timely manner. >> neil: they have been patient. the read from the american farm bureau federation talking with me earlier on fox business network. there is a limit to our patience because we're getting hit hard right now. when you think about it, everything from soy beans to white, barley, they all trade on the commodities markets, future markets. a lot of those prices were headed south long before donald trump became president of the united states. this trade rift that has turned out to be more involved has obviously accelerated that. the read now from republican oklahoma congressman tom cole. congressman, good to have you. farmers have been very loyal to the president and the fight will justify whatever headaches they're putting up with. but there's a limit to that, is there not? >> there is. i'm from a part of the country
that doesn't gain from the tariffs anyway. big agricultural district. a district that is big oil and gas producer. the price on metals hurts us and the aeronautical industry as well. very metal sensitive. there's not much upside in this fight but there's a lot of confidence in the president of the united states. he's asked for patience and so far at least he's gotten it. >> neil: there's always a timetable on patience, sir. what do you think it is? a lot of your constituents have been dealing with this because their products trade on the open markets in real time. they've been seeing that tumble in prices. they see the possibility of the chinese drying up as a buyer, let's say soy beans more to the point. they've been dealing with that. what is the timeline on this? in terms of months.
what are we talking about? >> well, we would hope to start seeing some results by later summer, certainly into the fall. it's hard to protect time lines. one thing i'll say, farmers and ranchers are used to volatility. it would help a lot if we could get the farm bill passed in washington d.c. it has passed the house and senate. again, you know, i don't know how you would estimate something. right now, there's a lot of faith in the president. a lot of belief that he's right. we do hold a lot of chips and frankly where china is concerned, a sense that they've been bad actors a long time. they've gained the system to their advantage. they've been really brutal when it comes to stealing intellectual property. >> neil: there's no doubt, china is in a case by itself as we discussed. i'm wondering when we include the likes of the canadians and
the european union, i imagine their fences are less but we lumped them into the same big old pot. does that worry you? >> yes, it does. they could be allies in dealing with china. china is all around the world. we don't want to alienate allies. we're in a position where we're renegotiating nafta now. it's a good thing. the time to do that. from an agriculture standpoint, we hope to see gains there. the europeans are concerned, the president has a legitimate point. we see very producted agriculture markets in the european union. there's some lauren simonetski . we have a huge export of soy beans. we're a good foreign exchange earner for the united states.
>> neil: time is wasting. >> yeah. sacrifice your strong areas. >> neil: thanks, congressman. thanks very much. >> neil, thank you. >> neil: the read from the north koreans talking to our secretary of state. how did that go? ur heart... or joints. but do you take something for your brain. with an ingredient originally found in jellyfish, prevagen is the number one selling brain-health supplement in drug stores nationwide. prevagen. the name to remember. your insurance rates skyrocket you could fix it with a pen. how about using that pen to sign up for new insurance instead? for drivers with accident forgiveness, liberty mutual won't raise their rates because of their first accident. switch and you could save $782 on home and auto insurance.
>> neil: i wonder how this went. we have the secretary of state coming to north korea. the third time in as many months. reports we're getting concerned with what appears to be an escalation of the nuclear program. not dialling it back. "wall street journal" is reporting that north korea is still working on a nuclear submarine as we speak. jillian turner with the latest. jillian, you were among the first to tell me, verify and then trust. but what do you think of what we're getting out of the north
koreans, the signals we're getting out of the north koreans? >> they're not entirely promising. secretary pompeo arrived in the hermit kingdom for two days of negotiations for kim jong-un and his top deputies. the first high level face-to-face engagement between the two countries since the summit. secretary pompeo striking a jovial tone despite the seriousness of the task at hand. president trump sent the secretary of state to follow up on the promises kim jong-un made in june. >> we signed a wonderful paper saying they're going to denuclearize everything. >> and new troubling reports out of south korea, a lawmaker says kim is building a new submarine
that is capable of launching nuclear armed ballistic missiles. they believe it's being built on the east coast. it was last saturday that leaked satellite images appeared to show the kim regime working to increase their production of enriched uranium and making improvements to three separate facilities. the national security advisers say nobody in the administration is naive. >> we've seen how the north koreans have behaved before. the president has been very clear. he's not going to make the mistakes of prior administrations. we're going to pursue this and see what happens. >> the u.s. officials tell fox news today the submarine in question reported by south korea's military is likely the same sub that north korea has been working on and testing for years. >> neil: okay. jillian, thanks very much. the read out from christian here. there's a lot of disturbing elements here.
maybe each can be explained. a lot of explaining to do. i wonder what posture we take in the face of these developments. what do you think? >> i think the pessimism is overstated. they conceal their program and don't want to disarm. everybody knew that. the improvements at the more sensitive sites where they make nuclear fuels at least, the fissile part is a hut that was improved. there's more significant improvements where they make rockets. north korea has not agreed to give that up you. but if you're going into a negotiation, you continue these types of activities. they have stuck to their suspension of ballistic missile testing, et cetera. pompeo is in north korea. he's there. it's a finite agenda, but he's there to verify that the meeting of the minds that took place in
singapore has filtered down to the working level and the atmospherics look good. >> neil: but if the iranians were pulling the same stunt or appearing to, we'd have a different reaction. >> yeah, with the iranians, they knew they're dealing with patsies with the obama administration. wendy sherman is the one that made the terrible deal -- >> neil: but what is to stop the north koreas from feeling the same way that we can get around this guy because we believe he wants it more than we do. >> for one thing, we haven't put a bunch of dollars in the middle of the night on a plane and sent it to pyongyang. we haven't given up billions like we did with iran. we have given them nothing other than suspending expensive war games. we have gotten hostages back,
ballistic missile testing has been suspended. they disabled part of our facility. time is on our side. that didn't used to be on the case. time was on their side as they inched lose tore a nuclear capability. >> why would they draw attention to satellite images that could get back to us and we can discern what they're doing? unless they want to remind us that hey, we don't want to think this is a problem. >> it's difficult to know from the outside. kim didn't say in singapore, i'm going to stop 100% of what goes on at the facility that makes rocket parts. he didn't say i'm not going to build a two room hut, which is next to a giant facility -- >> neil: you think if he told president trump that this facility that i've been working on, i'm going to continue to work on it, how would that have gone down? wouldn't that have prompted the president to up and leave the table?
>> no. i think if he said said we're going to continue to test nuclear weapons and long range ballistic missiles -- >> neil: so that was the marker. nothing else when it comes to getting a facility up to speed. >> all of this was underway beforehand. the reporter said probably the same with that ballistic missile submarine, which is probably not a sophisticated system, incidentally. north korea has lied and cheated. we're not going to do trust but verify. we're going to do not trust and verify everything. it's still very early days in what is an up and down process. >> neil: all right. christian, good seeing you. thanks very much. >> thanks, neil. >> neil: we told you how wall street wasn't worried about a trade war. republicans don't appear to be too worried either. why they're hoping the wind is at their back and the gains in november are still looking good. that's why they say on this whole blue wave thing, what blue wave?
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how it's sorting itself out for republicans, what now to make of a blue wave? to hear republicans tell it, it's not going to happen. they're not going to take the house and certainly not going to take the senate. they're that confident. is it justify? crtv host here is with us, allie and democratic strategist robin. robin, what do you make of the notion that democrats might be getting ahead of themselves? they were calculating the gains hand they're not going to happen. >> you know, honestly, neil, i would love for them to underestimate us and sit on their laurels. it's a real thing. you take into consideration the tariffs. tariffs equal taxes, a lot of these people -- i came from the middle of the country. they're walmart shoppers. 80% of walmart goods come from china. so we'll see increases at home.
they'll be feeling this in their pockets and looking to donald trump the explain why they're feeling the financial pinch, neil. >> neil: what do you make of that? it's one thing to talk about this in the beginning when the impact hasn't been felt. but a few months of this, a different story. that's the trade war. what do you think? >> i think republicans are holding out hope that trump's negotiating tactics will work and china will lower tariffs or maybe congress will step in and act and a trade war will not escalate. robin is right. this is going to hit trump's base the most. that was a strategic move by china. i'm concerned about millennials, a lot of the products that we use like smart phone devices and the vaporizing industry will be hit by the tariffs. not only to we see his generation by mine also.
>> neil: you're the first to talk about the vaporizing issue. touche to you. dan, is it your sense that looking at this with all of the unpredictable issues that could come into trade, that it's not going to be a factor? the president enjoys support with his base on getting tough with nato, the chinese and the alloys and they like that and there's enough of them and feeling passionate about what the republicans are doing and that they will stave off a democrat swamp in the house? >> it's a possibility, neil. trump's base is strong. they believe in the president. they believe -- >> neil: is that base enough, dan? >> it might be. let's just say that it's not. what is going to happen? these trade wars or the escalation in the trade war, i don't think the president is going to back off.
so ultimately what happens, china will be strategic with the tariffs, try to hit the president where it hurts politically. if that's not successful, the president comes out stronger and now china must come to the table. that plays perfectly to the president's base. is it going to happen? we'll have to wait and see. the president's base in the midwest rust belt, they love what he's doing. finally standing up. >> neil: no doubt the base loves that. robin, i'm wondering whether democrats spoiled an opportunity when they're making head way on this whole separating kids from their parents and dramatizing that to the extent they did only to realize here that they're alienating in americans that don't share their enthusiasm for eliminating ice or ignoring the problems at the border, the perception that the democrats are getting crazy. what do you make of that? >> neil, you're right. republicans are doing a really good job of sort of conflating
the message here. when senator -- when representative gillibrand and de blasio said eliminate ice, they said replace it but conservatives are picking the first part out and say abolish ice. then you see donald trump hahn the campaign trail with all of this propaganda saying that we want to welcome with open
because the reality is that the consequence of abolishing ice rather than just reforming ice is in influx of ms-13 or danger. the reality is ice helps with sex tracking and -- >> neil: but dan, you said things can change. a couple of weeks ago didn't look like this environment. we'll go back and forth a lot. ultimately what decides this mid-term to you? >> i think there's no doubt about the fact that it's the economy. what we're talking about here, they're emotional issues. people will be looking at am i doing better financially than i was before. and that's how people are going to vote, neil. >> neil: guys, have a great
weekend. when we come back, the president is getting ready to go to europe to meet his counter parts. last time it was tense. the president relishes this. a year ago, they were snickering. who is snickering now? no matter who rides point, there are over 10,000 allstate agents riding sweep. call one today. are you in good hands?
>> i'm going to tell nato, you have to start paying your bills. the united states is not going to take care of everything. we're paying from 70 to 90% to protect europe. that is type. they kill us on trade. they kill us on other things. they make it impossible to do business in europe. but they sell their mercedes and bmws. and these are the people that like up. welcome back. the president making it clear when it comes to nato, everybody better pony up here. he's gotten more countries to do that.
but four that have not, he sent letters to their leaders including angela merkel to say come on, pony up here. peter brooks on this. what do you make of it? should make for an interesting pow-wow next week. >> yeah, especially after the g-7 and the president goes to russia. remember that? this takes place in the shadow of russia. it's in brussels. so very important. we want to come out of this showing strength and solidarity. but yeah, there's some tensions. the iran deal is out there. the tariffs that you mentioned. concerns about russia. the president is right and nato's spending. the members spending. and the burden sharing. nato committed in 2006 to spending 2% of their gdp on defense. today only five countries are doing that out of 29. that includes the united states,
of course. u.k., greece, astonia and poland. three more may join that. >> neil: are you telling me that astonia is doing more than germany? >> 2% of gdp. the other concern is not only the money, but developing capabilities, they committed to spending 20% on major equipment purposes. with russia's belligerence, this is important. the president is on to something. we need these countries to do better on defense burden sharing for nato. >> neil: as you reminded me dating back to barack obama who tried to raise this with his european counter parts with no ava avail. maybe the president has to say i have to be nor in your face about it. and then what about from last year, the attack on one member would be something that would be responded to by all and he was
reluctant to commit to that? some read into that a threat and he might follow up by reproving troops from the european continent, maybe germany. what do you think? >> it's a possibility. the president is trying to move this off dead center. five countries out of 29, we'll have eight this year when romania and latvia join the 2% club. we still have 21 other countries including france and germany that are not. so critically important. he's pushing them and pushing them hard. you're right. president obama did it going back to president bush and the defense secretaries as well have pushed hard for this. so i think the president is trying to see some sort of movement from the europeans, the nato allies on this issue. >> neil: he's not seeing a lot of movement. so i'm wondering, that shows a certain amount of arrogance on their part to assume he's going to make a big deal of it but we don't have to do it. >> we have 35,000 troops in
europe. nato is important to us, too. it's our troops forward deployed, close to crises in europe and north africa and the middle east. so it is important to us. it's mutually beneficial but we have to have people doing their fair share and the president is right to make a stink about this and he probably will. but there's other things on the table, too. for instance, the president could bring up iran sanctions. we pulled out of the iran nuclear deal and the europeans are critical trading partners with the iranians. he wants them on board with that. there's a lot of horse trading. this happens in a few days before the president meets with president putin in finland. >> neil: you're right. i didn't put them in context like that. peter, that's why you're the genius. thank you. >> thank you. >> neil: days away from another big development for the president. he will be announcing his supreme court pick. already those on the left have
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>> neil: you know, i love getting susan here from "the washington examiner." she will tell us how this supreme court pick will go down. he joins me now in washington. susan, here's where i'm going to take a leap here. you're the expect. i read a prompter so i qualify. no matter who the president picks, that person will be ripped apart. is that safe to say? >> it's going to be a big battle no matter who he picks. there's always the possibility that you'll see even some red state democrats go along ultimately in voting. >> neil: really? >> yeah.
>> neil: with that said, two or three republicans that might not. >> i doubt that. but it's going to look that way for a while. don't forget, neil gorsuch was confirmed with three democrats. i predict they will be on the table here possibly voting for whomever he selects. given that everybody know whose is on the list of 25 and now who is on this narrowed down rumored top three, you're going to see a big battle. the focus will be on the democratic side to try to pressure the most moderate republicans on the roe v. wade issue and upholding obamacare if it's challenged in court. you'll see susan collins of maine and lisa murkowski of alaska, shelly moore capito under pressure to be very careful on how they decide whether to vote for the nominee or not. i think ultimately they will. but it will require whoever is nominated to be very careful
about how they navigate questions about those two subjects that i just brought up. it's really important for whoever is dominated to talk carefully about the roe v. wade issue. otherwise, you'll fuel the sentiment against the nominee. that's when republicans could have problems. they have a one-seat major think. 50-49. vice president pence can't play a role here. he can only break a tie. it will require careful vetting. >> neil: and tough to repeat a good choice. everybody can agree neil geor a georgia -- gorsuch was the ideal choice. but there's bumps along the way. >> always bumps. depends what they're about. any possibility can come up here. for example, if judiciary
committee has a one-seat majority as well. republican jeff flake is a member of that panel. he's been no fan of president trump. the two of them have gone head to head on a variety of issues. you never know. he could be an outlier here, making things difficult. anything is possible. ultimately in the end, you'll see this person get confirmed. >> neil: it will be close. we shall see. susan, thanks very much. >> thanks. >> neil: we'll have the coverage 8:00 p.m. a little after 9:00 the president will announce this. the same deal with neil gorsuch. the president we're told is going for the wow factor. which of those names you saw, many we don't know could have the wow factor. we'll cover it and a market reaction. we'll have market reaction globally. that's on fbn. see you then. more after this.
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time tomorrow on fox news. i have matt rosendale coming up from his home state also andy budsner what he makes of the good jobs numbers and pat buchanan why it's the 60's all over again. see you then. ♪ >> kimberly: hello, everyone i'm kimberly guilfoyle along with marie harf, jesse watters and tyrus. this is new york city and this is "the five." ♪ the break neck pace of the trump administration intensifies with the new high stakes foreign policy move. china is accusing the white house of launching the largest trade war in history for slapping billions of dollars worth of tariffs on chinese goods. this, as our economy continues to boom. u.s. employers adding a solid 213,000 jobs last month. president trump explains