tv Making Money With Charles Payne FOX Business June 7, 2018 6:00pm-7:00pm EDT
kim jong-un. then a midnight special report here on fox business. thank you for having us in your home. they continue to behave badly. tech stops getting hammers as investors are looking for value. congress is working on a new amnesty bill. a skyrocketing number of apprehensions at southern border. the trump administration is restoring the rule of law but it isn't helping. the g-6 plus 1, the 1 being the
united states on tariffs. trudeau will attempt to shame president trump for upping the ante. but friendship has to be a two-way street. joining me now who to discuss, david nelson. former special assistant to president trump. and stephanie hamil, the "daily caller" reporter. mark, i know you wrote a piece on this today with respect to trade. before we start, i want to tell you about a tweet i spoke with this morning. i know tariffs don't work. but why does canada have these tariffs. 270% on dairy. 70% on sausages.
57 were * on barley seed. they are trying t they are tryig protect canadian businesses. another their can people have been sold a bill of goods on the term free trade. it hasn't been free. it's put our workers at a disadvantage. president trump is standing up and saying even among our friends and allies, we are not going to take it any longer. charles: when they put nafta together, there was a carve out for urn filtered milk. but their dairy farmers said something about that and a couple years ago they leveled a
tariff on that. >> interesting how things work. other countries can do it but we can't. that mike's us evil and weak and we don't want to work together. what the president wants is to level the playing field. he feels america gets the short end of the stick every time. as for his first official trip to canada, this will be interesting to watch. we note french president was here and people were describing it as some sort of lovefest. he was looking for the united states to continue on with the iran nuke deal. you know president trump tore that up. it might be interesting to see his interactions with these world leaders. charles: i like what stephanie said about president trump not necessarily liking tariffs. the overarching narrative that
this came out of left field. it's always been something that's been used but it's been abused in other parts of our trade relations. >> i watched trudeau whining on the networks last week, but where was he when canada was stealing intellectual property on drugs. handled over our intellectual property on drugs to their generic system. i think the president understands that he doesn't want to do a nafta in a multi lateral sense. he wants to negotiate one country at a time, one line item at a time, but we'll get a better deal that way. charles: it's easy to rail against it because you have
criticism coming from both sides of the aisle. but it feels like the unorthodoxed methods the president is using are starting to yield results. >> i think tough talk is one thing, but being able to deliver for the american people for a lot of the electorate that elected this president is a different thing. with the tariffs on steel and aluminum. that will cost american jobs in the end run. it will be more expensive for american workers to do business to make those products and build those cars. it will hurt the electric rapts this president was elected by in middle america. it's a rather silly kind of position he's taking. we need constructive work with these allies. this president declaring a tariff war on england and
france. but what about china and russia? charles: mark, i brought up the example of dairy because there are a lot of dairy farmers in wisconsin sitting on a surplus of product that would love to sell it to our friends up north but they can't do it at a 270% tariff. they will never have a fair trade system unless president trump breaks it up and says if you want free, reciprocal trade include milk and beef. >> american automobiles, produce and agricultural products, we are seeing that being discussed with china and the same thing will happen with canada.
since he i am plementd those steel and aluminum tar trif, we have seen blanlts going into illinois. they are reopening plants. we can fill the gap. we'll take care of it. but we need to go through some of the bumps in the road to get there. charles: tomorrow we have this g-7 meeting i think will be similar to davos. it will be the billionaires of the world and they were going to shame him. he ended up being a rock star. everywhere he went there was paparazzi. and at the same time he threw down the gauntlet on the global establishment elites. that was the peak of the stock
market, so maybe they are getting their he vehicle. >> we know that no matter what happens tomorrow, the media coverage will be negative. that being said he might receive a little bit of a chilly reception. we have angela merkel and globalists who don't like what our president represents. it will be an interesting dynamic. we have completely different ideology. we have people angry that he pulled out of the paris accord. and promoting and women empowerment are something we don't have a problem with in our country. the other thing he has gone the rid of baits doesn't benefit us. president trump tweeting please tell prime minister trudeau and macron that they are charging
u.s. massive tariffs and create non-monetary barriers. the e.u. trade surplus with the u.s. is $151 billion, and canada keeps you are farmers and others out. look forward to tomorrow. charles: a couple months ago on the trade deficit with canada and mexico. they brag about the deficits being even higher. the way they calculate it their trade imbalances with us, they have massive surpluses. we understand that if that's the way you want to go. but the notion this is a north american free trade agreement, it's not free trade, it's not fair trade. i'm glad president trump just put that tweet out. >> larry kudlow said the system is broken. the anti-tariff voices are
endorsing a defense of the status quo. president xi and other world leaders count on that. charles: the countdown is on for his historic pleating between president trump and kim jong-un. today we got a bit of a preview, promising news from mike pompeo. 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 other money managers. fisher investments. clearly better money management.
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but that's the beginning. it sounds strange but that's probably the easier part. the hard part remains after that. charles: that was president trump. he hosted japan's prime minister mr. abe. trump says japan, south korea and china will be key players in helping make this deal with respect to denuclearization of north korea. here to discuss is jim hanson. retired u.s. marine corps gunnery sergeant. we heard from mike pompeo who was a little bit more direct. he said kim jong-un understands not only what denuclearization means, but he sounds like he's willing to accept it. i know you have been a skeptic
about this meeting. >> you always have to be cautious when you are in an industry i supported my entire life. once you put your guard down, that's when you are vulnerable to attack. we are look at massive moves the president plans to bring forward. but if kim jong-un is resistant we won't be able to move ford. but i am excited because we have gone the further with this than we have since 1953. we have been at war with north korea. charles: it's like the sword of cadamocles. you have got the prime minister of japan saying they would help, they would invest. saying great things about the
korean people. imagine all the investments they could get from japan and south korea and china. >> it's time for kim jong-un to take advantage of that. he knows what the alternatives are. if he doesn't denuclearize he has a problem. can he and president trump come to a face to face agreement big dog to big dog about what's going to happen. this is a first meeting to size people up. there are a bunch of people complaining that trump hasn't prepared enough. he didn't do that and thumb wrestled with the building i spending tores over code when he built the skyscrapers in new york. we are going to find out if there is a deal on the table. charles: what about those saying
kim jong-un is playing the art of the deal with president trump. i find it far-fetched. but that's the alternative discussion. >> i find it interesting the japanese and south korea are talking about economic freedom. he is a dictator. once his people get a taste of freedom he'll get overthrown. once they understand what it was like to live in the hermit kingdom. his power is based upon his dictatorship. he's now in a corner because of these 300 massive sanctions. charles: i want to get jim on this. he could sock away an extra billion. vladimir putin, his popularity amongst his people is through
the roof. >> kim is in jeopardy one way or the other. he's been told, we'll destroy your military hardware and regime if you don't come to the table. he's got to make a deal or lose. then he has to deal with the fact that his people could take advantage of that. but he doesn't have the choice of walk away. charles: it's been a bad week to be a facebook and google user. o. it's how we earned your trust. until... we lost it. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers. so we can focus on your satisfaction. it's a new day at wells fargo. but it's a lot like our first day. wells fargo. established 1852.
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companies. then more today. information coming like google and alphabet. they have connections with that very same company. curt, let me start with you. the stocks are down, but they haven't taken any sort of real hit. no real economic damage from this. but the public relations damage and anxieties from average users went sky high. >> you and i now, we think, what are they doing with us? every time we engage with one of these companies we are going to ask ourselves, what are they doing with our personal data. we have mark zuckerberg saying oh, shoot, i just dodged the last one, the second he does this, we have this story.
one more curveball from facebook how they didn't put us first, but put themselves and their investors first, and put making money first ahead of people. charles: we know their business model is taking advantage of the eyeballs on the clicks. but where do they draw the line. when they start to sell the information to duplicitous characters. i'm not a major government intervention person, but what can stop them from doing this? >> it's just been one punch after another for users of facebook, google and other big tech. guys like zuckerberg have been on an apology tour since 2016. congress may be right, this
might require government intervention because you can't allow or trust the tech companies to police themselves. i think the public is sceptical on that point. charles: pretty soon he'll be testifying on five continents at the same time. >> if i'm an investor and i hear this over and over again. it used to be he could do that dog and pony show and say i'm sorry, but then we would move on. but for to us say how did you use my grandmother? how did you use my mom? charles: maybe we might all buy an alexa. >> earlier in the week i was out at apple at their new launch of
ios2. the latest version of the operating system and all their products. they are the only ones in this giant category that are arriving at a place where they go, you did all right on this. you are pretty clean. charles: tim cook reminds us every time he gets a chance. having said that, scott, where do you see this going? is it a possibility? one of the concerns is if you start to level this industry with a whole bunch of government regulations, all you did was create a motor that pushes back against smaller competition. >> i think what happens is this. two weeks ago the european union rolled out a privacy and security data regulation. even though you don't have that in this country, it sets the
standard. over time i think just naturally companies in the american sector will go towards that standard. over time in order to capture the narrative american companies will say, microsoft and facebook have said we are doing gdpr around the world. i think there will be an attempt by companies if they are paying attention to capture the narrative and get out in front of it. charles: backlash after once the mayors celebrate their sanctuary city status with pretty hip moves.
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it's disgusting that he would dance in celebration of a lawless decision that allows criminals to roam free. the decision in philadelphia schooling day after the department of homeland security says arrests at the bored are soaring. here to discuss, brandon judd. to what do you attribute this to? as these numbers soar. we'll see more images of children being taken from their parents. and people will say the president is heartless. why do you see a massive increase of people to get across the border? >> they are using the loophole to use asylum to get into the country. they are given a court date and
they never show up. they disappear into society and never to be heard from in a legal aspect. charles: there was a big thing with you and a misinterpretation by an interviewer on just how effective the national guard has been. but this underscores, even with the national guard doing things to free border patrol agents up to do their core jobs, we probably need a physical barrier at key points of entry. >> we do. we have to have physical barriers to dictate where illegal crossing take place. we can arrest 100% of the people crossing the bored. but if they are just going to be let go later on the road, they will continue to cross the boished and basically we
accomplished nothing. we have to cross the -- close the loopholes that exist. charles: the mayor of philadelphia gets turning from federal government, the president can't use the power of the purse to persuade his argument there. >> that dance is horrible. i hope the voters take a look at where these individuals live. and the dispair it there. -- the disparity. i'm sure he'll go them his gated community and forget these individuals are living in a slum, and they are also taking advantage of a system that's hurting his constituents. charles: i want to bring in our panel to discuss. tammy bryce also the independent women's voice panel.
tammy, you know, we see this massive influx of humanity. we are a very giving nation. we want to help everyone, but we are also a nation of law and order. >> the two normally should find a blend, a middle ground. what you see like that dance and other liberal cities across the country. a complete loss of connection over what we are fighting for. it's a dance over beating trump. it has nothing to do with the money it was they beat the president. it removes the reality as your previous guest was saying, these criminal illegal aliens are harming first the immigrant communities. these are people you don't want in our community that all. any mayor, anyone running a city, it has to be the height of their responsibility. you saw that ridiculous display
that doesn't belong anywhere in this argument. charles: ron, your thoughts? >> you would think that the mayor of philadelphia would be dancing over the fact in the last year there have been 45,000 new manufacturing jobs. many of those in his area. but he's dancing over the fact that more criminals will be able to roam free in his city. i think tammy is right. i think we all agree good people should be allowed into the country under the right circumstances. but having an open bored or porous border. cartels spreading opioids are aloud to come across the border. the 50,000 arrested in may. that's a great thing for the country.
it means we get to choose and pick the best who come into the country rather than letting people who want to harm our country into tour nation. charles: we have humanitarian ways of letting people into the country. an army base, order the pizza. then when the delivery man showed up, i.c.e. showed up. he was taken away. he has young children. there are a lot of rumors a bipartisan group of folks in congress are ready to put together an tam necessary city bill against president trump. how do you see this playing out? >> this is a complicated situation. as you mentioned, i was part of the president's diversity coalition. this is something we talked about. people are going to be picked up in this immigration crackdown.
but that's part of being in this country illegally. there is a chance you could be sent home if you are in this country illegally. the focus is criminal illegals. the video of the mayor dancing around was sickening and disturbing. the mayor was dancing like he won the lotto, and it was over the fact we have law enforcement restricted from communicating with immigration official. we want america. this case in new york is a unique case. we'll hear this in the mainstream media all day long. our immigration system is broken. president trump tried to pull through daca. the democrats don't want that. democrats don't want a solution to immigration because this is part of their campaign platform
to get votes. charles: millennials are relying on their parents' money to get through life andhw their retirement. highest in investor satisfaction with full service brokerage firms...again. and online equity trades are only $4.95... i mean you can't have low cost and be full service. it's impossible. it's like having your cake and eating it too. ask your broker if they offer award-winning full service and low costs. how am i going to explain this? if you don't like their answer, ask again at schwab. schwab, a modern approach to wealth management. jardiance asked: when it comes to managing your type 2 diabetes, what matters to you? you got a1c, heart, diet, and exercise. slide 'em up or slide 'em down. so let's see. for most of you, it's lower a1c. but only a few of you
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taking jardiance with a sulfonylurea or insulin may cause low blood sugar. tell your doctor about all the medicines you take and if you have any medical conditions. man: ask your doctor about jardiance and get to the heart of what matters. charles: it's begun. anti-g-7 protests taking place in quebec. 200-300 people marching and police and s.w.a.t. on stand by. running a small business is demanding.
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noelle, let's talk about the huge wealth in the country. it's mind boggling. it's so much more than disposable income, it could give people false hope. the ratios. >> it gives the millennials from their parents and all the wealth, it also gives these millennials something they get used to, they get accustomed to which is not good. if you grow up like this, you are going to be expecting this. god forbid anything should happen to their parents, their wealth. charles: this will be the greatest passover of wealth in a long time. the baby boomers did well, and this is the first generation where people say there is so
much anxiety they won't do as well as their parents so perhaps they want or need this money. >> i think they will find there is more to life than just money. there will be a sense of self-worth. what your future is like. they have challenges we didn't have. the cost of education today is staggering. i would give them advice. do not go to college unless you really have a passion and know what you want to do. go out and find a job. charles: don't go to college. >> not right out of the box news know exactly what you want to do. if you are just going in for a social experiment, take some time off, find your passion and then go back. >> a lot of millennials are finding their passion on their parents' time. they are exploring the art world and doing a lot of things. but they are expecting to keep up the same standard of living as they did at home.
charles: maybe it won't be the millennials. something interesting going on with respect to lemonade stands. but i want to bring it up. the lemonade unit of kraft, they are going to defend and pay fines for any children who set up lemonade stands without permits. they are taking the lead to save them. they are going to help pay the fines. country time. maybe it's a p.r. stunt. it reminds me there is a generation coming up behind millennials that could be a little more hand on and entrepreneurial. >> one of the things the children coming up in the lemonade stand, they are going to be a big fan of deregulation.
they are going to say regulations do not work. but this generation seems to be more innovative. they are taking the harvard approach. don't go get a job. create a job. charles: permits can hurt you as well as help you. we got rid of all these regulations and our economy is soaring. >> when the pendulum swings so far the other way we regulate them to both, somebody will step up. charles: the world leaders remain united in opposition against president trump's trade policies. but china looks liquor day they are willing to trike a deal. we'll be right back.
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>> the trade tensions continue to mount as global leaders are getting ready for the g-7 meeting. for all the animosity our friends are destroying towards president trump, china every day extends a hand and olive branch. the latest number, $70 billion. the trade envoy said they had deep and detailed discussions with america and they have no intention -- they do not want to escalate tensions. in other words, they want a deal. china has its own issues. it's 250% debt to gdp ratio. their reserves have been declining. china wants a deal.
here to discuss, john burnett. tammy bruce back with us as well. you read these statements. this guy holds a press conference every thursday. he's the chief foreign minister. he said flat out. he's not threatening america or talking about counter tariffs. he's talking about not wanting to escalate this. >> our allies are treating trade like an entitlement program with their expectations of continuing to allow america could accumulate trade deficits. we have to correct that, and that's what president trump is trying to do. without it being fair, you know what? we are teegd our national debt and we are sucking the resources out of american lives and their well-being on a daily basis.
charles: the media is saying why is trump pick on our friends. the zte deal is official. they will be aloud to do business with america. oversight for up to 10 years and this is the deal trump and his team signed off on. tammy: with chain today we don't have a free ride yet. when you have friends and family, those are the ones you want to do well, you want lessons in fairness and have everybody carry their own weight. this is still the world war ii mentality with europe and our friends. we were the strongest ones and it's the marshal plan. it's time to grow up. or canada or anyone else without these nations growing their own strength and not relying on us and carrying the burden the entire time. because we do care about them
and they are our friends. the western economy that cannot survive continuing to do this. and they have had a free ride. you can't blame them for want to it continue. charles: you make a great point. maybe this quowmed brexit and other things will jar europe out of this thing where they are living on past glory. the continent is becoming insignificant with respect to global economic might. >> the way they have been treating us i don't know if we should say friends. we should use a facebook term. tammy: frenemys. >> fair, friendly but firm. the three fs. but the things, with the expectation, we need to get to the point of balanced trade,
which is aiding the fair part. but the expectation is we are not going to get in overnight. he needs to develop a plan to can cute in three or four years. charles: all these people talking all that smack. there will be a lot of smiles, a lot of handshakes, a lot of back slapping and we may get closer to a deal. democratic leaders' latest attempt to lampoon trump's economic blood form as backfired. i will tell you what it was when we come back. until... we lost it. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers. so we can focus on your satisfaction. it's a new day at wells fargo. but it's a lot like our first day.
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and better future with me to discuss, kevin paul scott, a republican strategist. she also said that strong jobs don't matter, it's how strong consumer confidence is. and i think someone forgot to reminded her it's near an all-time high. what do you make of it? >> charles, this shows us what we already know. nancy pelosi is part of the problem. it shows how out of touch she is. if she wants to be against donald trump, be against him. if she wants to say we're benefiting from barack obama's policies that's one thing. to but so say low unemployment is one thing, it's ludicrous and bad for the democrats to keep putting her out front as a minority leader. charles: i wonder if people remember when nancy pelosi was eespousing the virtue of a food stamps. if you give someone a dollar worth of food stamps, that
generates a dollars of economic activity, calling it one of the best things in the world. and now people making money on their own, the dignity of work, money more, higher wages, more optimism, i think kevin is right. it would be smarter for her to give credit to obama than bash this. >> it shows you how out of touch they are and they have no plan. if their only plan is to criticize historic low unemployment, record wages, what they've got a resistance and it's one reason why you continually see time and again that the american people are seeing through it and they're seeing the benefits that are results from president trump and the republicans in congress. charles: mark, let me ask you, why do you think that while president trump's optimism about him and the economy is soaring people are feeling negative about the tax cuts. it's still not moving the needle on any poll polls, including a x news poll that came out this
afternoon. >> part of it is what they're seeing right now is the change in their paycheck from the lower withholding rates. they will really notice it next year on april 15th when they go to file their taxes when they see the doubling of the standard deduction, tin crease in the child tax credit and all of those other things. right now it's just what they're seeing in their paycheck which is good. but the big benefit comes april 15th. charles: kevin will you seeing this? sometimes reality is different. >> absolutely we are. we're seeing growth, consumer confidence high. people willing to spend money. the optimism is there. it's tough to fight the tide of the media that wants to spread negative news and pretend anything positive that doesn't exist or it's not because of trump or it's fleeting. a lot has to be overcome but come next april, you're going to see -- i don't think you can fight that.
i wish it were happening before the election in november. charles: yes or no, will wages start to go up, kevin? >> i think absolutely, no. charles: thank you both very much. at home, thank you. we always appreciate it. here's lou dobbs. keep it here on fox business. lou: good evening, everybody. our top stories, president trump showing poise, compassion and strength on the world stage. warmly welcoming japanese prime minister shinzo abe at the white house ahead of the high stakes g7 meeting in canada and the sig singapore summit with kim jong-un. >> a lot of good factors lined up for north korea, giving it tremendous potential. it has tremendous potential because the people are great and we would certainly like to see normalization. lou: president trump insisting on denuclearization of north korea and toughif