tv After the Bell FOX Business June 19, 2018 4:00pm-5:00pm EDT
currency markets which is a trillion dollar market, olivia, andy, great to have you. folks there is the closing bell. if the bulls are breath less the bears are possibly cheering but the dow losing 282 points but well off the lows we'll see you tomorrow. melissa: trade is rocking wall street stocks plummeting after president trump called for a fresh round of tariffs against china. the dow ending down 288 points and it has been down as much as 419 points earlier in the day. the s&p 500 and the nasdac both diving into the red there, but the russel 2,000 is fighting to end the day with the second straight record close, small cap led index needs major averages sin the president's tariff announcement on march 1. i'm melissa francis. david: i'm david asman glad to have you here. phil flynn is watching all the action oil and nicole petallides on the floor of the new york stock exchange where things didn't end as bad as we thought
they might at one point. nicole: oh, yeah, we were all up super early this morning like everybody was watching those futures to the downside, and in fact when the dow opened it moved to its lowest levels of 419 points. well, do you know what the traders said? buy them, take them. we loved the dip. they love to pick-up the stocks that they love at a cheaper price, so not particularly worried at this time, still negotiating tactics, trade wars this is what they've been focusing on but it's not set in stone so they were buying some of the stocks, the lows we finished down 287 points industrials, materials those are expensive and they did lag, like boeing and caterpillar, dow dupont and 3 m were the big laggards on the dow jones industrial average some names that were high were the fox business network 21st century fox you could see that hit a high, netflix, amazon, domino's pizza also at new all-time highs
netflix above $400 for the first time closed at 404.98 with a $500 price tag from one of the analysts today so that's something to watch and cvs, while the delivery is now available at all locations, nationwide get your drugs right away get them tomorrow but the dow did end six days in a row and we'll keep a keen eye on fedex and oracle waiting for the earnings, so we'll bring those to you here and after the bell as well back to you. melissa: we'll look forward to that nicole thank you. oil following stocks lower today and down 1%, still crude is down nearly 3% for june. where do you think it goes from here? >> well you know, i think right now these trade wars when it comes to oil are overblown by quite a bit but you can't separate that from the reality of the fear we're seeing in all of the commodity markets you look at grain markets gasoline, everything really got slammed on these trade war fears. on top of that you have an opec meeting that's going to happen later in the week.
traders are really focused in on that and there's a lot of contention in this meeting. we're hearing the russians, want to raise production by 1.5 million-barrels iran is saying no way, we don't want any production increase and they've got venezuela and iraq to go along with that so it's going to be a very contentious meeting but the market is pricing in the high probability more supply potential for lower demand and we had of course gold that was down wasn't shaking up on the trade war fears. no flight to quality. melissa: phil flynn thank you. david: turning up the heat on china, president trump threatening new tariffs on $200 billion worth of tariffs if they retaliate with tariffs on our goods. fox business' blake burman is live at the white house with the latest. blake we've got to emphasize so far we have $50 billion in tariffs against china. it could increase to as much as 450 billion but so far that's just talk, right? >> you've got several different tranches here, david you're exactly right but plus add to
that the steel and aluminum tariffs the 50 billion in ip theft and the president is talking about a couple hundred billion more in tariffs the white house started rolling out this argument they feel as it stands right now at this moment moving forward with the emerging trade tit for tat with the chinese they feel that the u.s. is currently better positioned than china, was one of the top trade advisors to the president peter navarro someone who aligns ideally pretty much exactly what the president as it relates to china saying just look at the export/import number s for example, last year in 2017 the u.s. sent about $130 billion worth of goods into china, the chinese sent just a little bit north rather of $500 billion worth of goods our way, so navarro was rolling out the argument that the chinese is more exposure to risk than us and a conference call with reporters he said the following. what the president did yesterday in announcing additional $200 billion is clear, that china does have much more to lose, what we have at stake is 130 billion going to china.
what they have at stake is over $500 billion coming to us. navar row saying one of the reasons the president has gotten to this point threatening another $200 billion worth is because they do not see progress with the negotiations with the chinese over the last few times with the u.s. going over there. the chinese delegation coming here as well. the president spoke before the national federation of independent businesses today and made the argument that now is the time to take on china as it relates to the trade deficits. president trump: i always say we have rebuilt china. they've taken so much. it's time, folks it's time. so we're going to get smart and we're going to do it right and we're actually getting a lot of support but we have to do something about it. >> navarro did not say we're currently in a trade war instead he said what's going on right now is a trade dispute a top chinese official did not shy away from the trade war term saying, "as we said before,
china does not want a trade war and certainly is not afraid of fighting one. if a trade war is waged against us, we will definitely safeguard our legitimate and lawful right and interests." as far as the back and forth david remember this started nearly three months ago march 18 and the administration said they would be imposing steel and aluminum tariffs. the commerce department now telling us that within the next week or so, those companies that had applied for exclusions for those steel and aluminum products should point out whether or not they've been given that exclusion or whether or not this will cut into their bottom line. david: well it cut into the bottom line of the market today. speaking it's all about process and oracle is reporting their fourth quarter earnings. let's go to nicole with the numbers how do they look? nicole: looking good in fact the stock is up more than 3% right now, look at the beat on the top and bottom line so earnings per share coming in $0.99 versus the estimate and also we see that
the beat on the revenue of 11.2 so that's a beat as well for oracle big picture also fourth quarter services and licensing support that moved up 8%, and so that was a win. plus the guidance we're waiting for in the last three quarters they gave guidance that was weaker than expected so we'll watch for that and they've been spending a lot something else the analysts really wanted a good look at spending a lot on data storage in order to compete with microsoft and also amazon web services, alphabet's google cloud so this is something we'll watch for as well but some of the analysts think that it's cheap not above $50 so we're watching it right now, so they think it has room to the upside, as a stock. back to you. david: sign of great fundamentals in this economy, nicole thank you very much. melissa? melissa: back to the market sell-off let's bring in today's panel. a fox news contributor fox business susan li and he's
managing partner, gary let me start with you. i feel like we've gotten into this trend where you sell the threat of the tariff and then you buy the actual announcement or the news. we keep going back and forth like when it really happens everybody buys back in and they think it's not going to be that bad we're going to work it out. >> well so far and may i say even though the dow was down, it was only down 1% and the nasdac hardly budged today and came back from down a hundred. yeah that's exactly what's going on right now but the worry is escalation. i'm a big believer in the word " unknown" for eight years i was worried about the unknown and uncertainty of obama policies and we have unknown and uncertainty of potential tariffs we're not talking about 50 billion any more all of a sudden this talk about 400 billion and the unknown of what china will do as well as other countries, so stand by and i will promise you if this escalates markets will take a big hit and could affect the economy. melissa: right but jason i think
that as much as maybe he didn't want to the president takes his hand at the g7 when he said to everyone else listen why don't we drop all of our tariffs we'll just go to zero and nobody bid. it's clear that's where he's trying to drive this whole thing just trying to negotiate a better deal and get them lower not higher do you buy that? >> yeah, i think we need to look at the bigger picture as much as possible, and in my mind the bigger picture is donald trump wants higher gdp, lower unemployment, higher job growth, et cetera et cetera, so it's not like he wants to crush the economy and that's what paul jones said recently and warren buffett said obviously lloyd blankfein from goldman sachs. all these smart people are saying listen trump is not from rome burning the whole town in flames. he just wants a slightly better deal so obviously it's not zero but i don't see 250 billion is going to go through it all. this is classic donald trump art of the deal.
melissa: it is. i mean susan, you have to believe that the person on the other side of the table is willing to carry through with their threat, or else it doesn't work. so the world has to believe that he's willing to do this and he has to do it in some case. one of the things he could do is work out a deal with one other partner with no tariff and set that as the example. >> well that would be great if that would happen but as you saw the g7 it's tough to negotiate. i want to get back to china because i think people realize at the end of the day, yes, we're looking at maybe $450 billion at least that's not the threat, that is not reality but if you look at it u.s. companies only drive over 5 % of the revenue from china. that's not a whole lot at the end of the day and also china trade is worth 2% of global gdp. yes, that would hurt in the short term but i think in the long there are other levers to pull and again this is not a reality just a threat at this point and i think that realism finally came to or reality at the end of the markets.
melissa: okay, gary do you buy that? >> look, i hope so and look, i hope everything comes out okay, but we do have precedent in the past when things do get out of hand and look, let's get this right. i love the fact that he's going after the trade issues. melissa: but this president, what have you seen get out of control? we've seen a lot of threatening, if you look at the economics of the situation what have you seen get out of control? >> well so far it has not got out of control it's just a bunch of talk right now. we haven't had any tariffs at this point in time. the worry is if we get into the tariffs and all of a sudden back and forth and it starts to pile on i can promise you the markets will react so i've been saying all along i am in hopes that cooler heads prevail. i love the fact he's going after trade leave no doubt china has been cheating on us forever and continues to do it as well as other countries i'm worried about the word tariff that's a tax on the consumer and if it starts to bubble up it is inflationary bad news longer
term. melissa: thanks guys, david? david: for more on all of this, former white house director of economic policy under george h. w. bush and tiger hedge fund managine director great to see you thank you for being here. let's talk first of all i like what susan li, to put it in perspective is important because we have about $3 trillion a year in imports about 15% of our overall economy. we're talking about $50 billion that's how much the tariffs are costing right now and again we could argue i would argue that it is being born primarily by u.s. consumers and that's the problem i have with it but it's a pretty small part of the picture isn't it? >> well it's a small part of the picture overall, david and by the way it's good to be with you. david: thank you. >> but when you look at certain regions of the country the agricultural sector is really feeling a pinch here. now you could ask how many swing voters does president xi have and the answer is none because they don't have democracies but
how many swing voters are there in iowa, nebraska, kentucky in places where people are worried about chinese tariffs on bourbon , on soybeans and on pork david: but the other thing they don't have in china is a good economy right now. they are, they have a spending problem which is 250% of gdp that is they're in debt 250% more than what their economy produces they've got a serious problem. i think the trump thinks they're at an advantage because the problem is in china. >> well i do think that the u.s. has by far the strongest economy in the world. president trump is presiding over gdp growth at about 4%, record lows for unemployment, consumer confidence even among the poorest americans is up substantially compared to the obama years. nonetheless, there is risk here. look president trump is the author of art of the deal, not the art of protracted daily wto
negotiations, so i can hope and expect he wants to get a deal at the end of this but my point, david schweikert there may be some pain and that pain shows up at the pole -- polling booth. david: it also shows up the wall street journal had a very good piece about the effects already on the u.s. economy because of the tariffs and just start with washing machines, we saw the washing machine tariff come in 20% on all washing machines already the price has increased 17% as a result of that, so that's a cost directly borne by the consumer right? >> well that's right they will be wearing dirty clothes i presume but also because of cheap chinese labor and cheap choice materials people lower income people can go to wal-mart or elsewhere and buy winter coats that cost very little. now you could say well, americans ought to be making those coats but there's a benefit for the availability of
cheap clothing especially for people at the lower end of the income. david: by the way it's not only the consumer that bears the brunt of this but whirlpool which makes washing machines by the way you'd expect they would be doing well. well they're not because they're steel consumers and consume a lot of steel and aluminum to make the products and as a result, their stock is down 18% since the steel and aluminum tariffs went in, so they get a bonus in terms of protection for the washing machines but in the end they're poor because of the steel and aluminum tariffs. >> well that's right look the price of beer cans will likely go up. the price of automobiles can go up, so you're talking about nascar voters here who might decide that this trade war is not so good for them. david: but again it's not yet a trade war. $50 billion, i mean it may grow into 450 billion let's hope it doesn't, but 50 billion is not really a trade war. >> well it's not a trade war
yet, and i suspect i think within the white house, peter navarro whom i taught with at harvard years ago, and donald trump think they think they're going to get a deal. david: i think they do. >> that's probably the right way to bet, but donald trump owns casinos. he's used to gambling. the average worker, the average consumer isn't necessarily want ing to go into a casino to decide how the economy is. david: he's also used to making deals and he's done a lot of those so let's hope and pray he gets a good one with china. thank you very much. >> good to see you david. david: thanks. melissa: justice department inspector general michael horowitz on the hot seat for another round of tough questions over that bombshell clinton e-mail investigation report. what we've learned from today's hearing. david: also the battle over immigration and family separations at the border reaching a boiling point, soon president trump is going to be leaving the white house and going to capitol hill where he's expected to meet with house
republicans on immigration about an hour from now. pennsylvania congressman will be there, he is also been apart of today's ig hearing and will join us to talk about it all, coming up. melissa: and help for small businesses struggling with the high cost and president trump praising a new rule unveiled by the labor department this afternoon, we will get the details in a fox business exclusive, that's next. president trump: massive amounts of money and have much better healthcare, it's going to cost you much less. a bachelor. and that's how he intended to keep it. then he met the love of his life. who came with a three foot, two inch bonus. for this new stepdad, it's promising to care for his daughter as if she's his own. every way we look out for those we love is an act of mutuality. we can help with the financial ones.
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the rest is up to you. so if 65 is around the corner, think about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they help cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. so don't wait. call to request your free decision guide. and gather the information now to help you choose a plan later. these types of plans let you pick any doctor or hospital that takes medicare patients. and there's a range of plans to choose from, depending on you needs and your budget. so if you're turning 65 soon, call now and get started. because the time to think about tomorrow...is today. go long. david: well wall street but after-hours, fedex reported fourth quarter results let's go back to nicole petallides with the numbers nicole?
nicole: another winner here, top and bottom line we're seering the earnings per share come in at 5.91 beating the estimates of 5.71 revenue 17.3 and that beats estimate at 7.25 billion as the stocks up about three-quarters of 1% with a little bit of volatility here in the after-hours but we're looking at the numbers going forward targeting the revenue growth for fiscal year 2019 that revenue growth is 9%. the other thing that i wanted to what i was looking at what to look for in this report one of the things was the spending. while ups has been spending a lot ramping up its spending, the facilities on the other hand, fedex has indicated it's going to pair back the spending and the analysts want theed to see the despite the tax cuts winfall , they wanted to see spending is under 6 billion but it's coming in at 5.6 billion going forward so that's also good news for fedex. right now you see it up a buck 60 back to you. david: good news for stockholders nicole thank you
very much. nicole: thanks. president trump: the department of labor are taking a major action that's been worked on for four months now and now it's ready to make it easier for small businesses to ban together to negotiate lower prices for health insurance and escape some of obamacare's most burden some mandates through association, health plans. >> [applause] melissa: president trump announcing the labor department 's new initiative to help small businesses with the high cost of healthcare, association health plans. the plan brings people together to buy healthcare as a group allowing small employers a better chance for healthcare advantages, customizable plans to taylor specific small business needs, and it reduces administrative costs and strengthens negotiating power with providers is the promise. here to discuss it is alexander,
thank you so much for joining us so he said today he could ban together and even go across state lines. who would administer it then if you have businesses kind of forming these loose organizations somebody's got to do the negotiation how would it work? >> that's right and the president explained it very clearly. right now large companies have so many advantages they have economies of scale they have bargaining power and they actually have fewer regulations than small businesses and so under association of health plans small businesses can come together and form associations and negotiate for healthcare so chambers of commerce across the nation, whether at the city level or the state level, or industry associations and the national restaurant association for example, can form these associations and these groups and bargain for more affordable healthcare on be half of thousands and thousands of members and their employees and that's transformative. melissa: but you know i don't
know that associations like that , i mean the way you describe it, have necessarily worked in the past. i was a member of the screen actors guild they had a healthcare plan altogether it was the same kind of thing if you were a member you have access to the plan and when you're talking about these smaller groups if it's a community like you said is the government the one that's negotiating if it's a chamber of commerce are they negotiating or if it's just a couple of people does one of them elect someone to go do the negotiation? >> well, these associations are well-known throughout the nation , chamber of commerce industry associations and they have a very clear structure and so all of these groups and associations can form a trust or within themselves can negotiate for healthcare. i'll give you an example because this has been done before. one of the comments we received were from a husband and wife that were operating a small business and before this, they had access to healthcare through
an association. after obamacare started they lost that healthcare, because of rule changes, these associations became much more difficult so all we're doing now is saying those associations can once again flourish and provide healthcare to millions of americans. melissa: so it's a little bit travel back to what we had before . the biggest problem though is that there's no real price transparency or reality. for example, i go to the hospital to get a splinter removed and the hospital says well that was $10,000 and they tell the insurance company nobody pays that price they've negotiated discounts they pay and they're responsible for some , i pay another, the hospital forgets another piece of it and it turns out that top line price wasn't a real price to anyone except for some schmuck off the street that came in and needed the care. it's that pricing at the point of service, where so much of the problem is. how does this address that? >> and there's certainly a
number of issues that need to be addressed in the healthcare space but that is one of the reasons why these associations are so valuable because as a group, as a large association of thousands of small businesses, they carry bargaining power. they carry scale. they can negotiate healthcare in a way that individual small businesses simply cannot, and that that is why these associations in the past have been so valuable and will be valuable again. you know the congressional budget office is estimating that 4 million americans will receive their coverage through these associations including 400,000 who are currently uninsured. david: it sounds good so far. secretary let me move over to tariffs if i can, because that does have an impact on jobs in the united states and elsewhere. i've got to start by saying we have one of the best job markets i've ever seen in my entire lifetime and a lot of it is due to the credit of the administration with the tax cuts , with deregulation et cetera. we now have more job openings
than we actually have people looking for jobs and that's about as close as you can get to full employment so why do we need tariffs? >> well, you're absolutely correct. you have one of the best econom ies we have seen for decades for the first time ever, as far as we've been keeping records we have more job openings in individuals looking for jobs and the federal reserve estimates the economy is going to get even better but the president is focused on the long term. he wants this economy to continue and wants these jobs to be preserved for americans so he's saying look we need fair trade and he's negotiating hard but that is why americans elected him. . david: but really, if you go back in history and see why tariffs have been applied, usually to protect u.s. jobs. as you just said and i said we have more job openings than we have people looking for jobs. do we really need tariffs from a jobs standpoint? >> we need tariffs from a
fairness standpoint. united states should engage in fair trade with its partners. david: but there's a cost, not only a cost to the consumer, we talked about before but for all of the company use steel and aluminum is one of the examples of a tariff that may be hurting u.s. companies. we have ten times as many steel-using companies and steel-producing companies. that's a tenfold increase over the number of people who work for the companies. 900,000 people work for steel companies that use steel as opposed to 80,000 who work for companies that make steel. so shouldn't we focus on the first rather than the latter? >> two points first, the president is clearly focused on jobs, more jobs and even more jobs. that is so evident from this economy. 3.4 million new jobs since he was elected. a 3.8 unemployment rate, the lowest in decades. at the g7 conference, the
president made an interesting suggestion. he said why don't we all eliminate tariffs. here's the question i would leave with viewers, why don't we all just eliminate tariffs. david: sounds good to me, sounds like music to our ears, we're free traders. if you have to choose between industries that employ 900,000 people, those who use steel and those who employ 80,000 people, those who manufacture steel, wouldn't you focus on the first rather than the second? >> i think we should focus what's fair to americans and put americans in a position to grow and to thrive. if countries want to eliminate all tariffs, he suggested it, they could take him up on that. david: that would be great if they did. secretary acosta, thank you, congratulations, the jobs numbers are extraordinary. appreciate you being here. >> good afternoon. melissa: tariff fears rattling markets, will this send
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. david: it's not all good news after-hours, breaking news about starbucks, shares are falling after hours after the company announced it plans to boost dividend by 20% and will be closing underperforming stores in certain markets. we're sorry for the workers there. melissa: markets rocked by trade concerns. back to the new york stock exchange where teddy weisberg of seaport securities is standing by. teddy, what do you make of today's sell-off? seems like maybe we sell the promise more tariffs, and then settle back down, that that's kind of become a trade as opposed to a real read what's going on, what's your take? >> the good news is we sort of understand what's going on here, which is a little bit
unusual. this geopolitical cat and mouse game over the tariffs clearly has created a cloud of uncertainty over the markets and the markets acted accordingly today, and you know, i guess if it continues to play out with this negative bias, clearly it's not good for the markets. on the other hand, yes, we're down almost 300, but as i looked at the screens, there were plenty of bright spots on the screens today and, in fact, the tech averages, the composite, though it closed down, climbed out of a pretty big hole, and you know, there's plenty to be encouraged about. i think the uncertainty clearly is weighing on the markets and it's probably a good time just to kind of sit on your hands here and let the tanks roll over the playing field and see where we are when the dust settles. but all in all, when you think about the potential negatives out there, the market hangs in
pretty good. melissa: it just seems like we were going up and up and up, a lot of traders didn't like that because it was what they describe a slow melt upwards. no beta to make money off of, and figured out a back-and-forth that worked and i wondered if the average investor realizes there's money to be made for people to trade every day in the quick moves that don't necessary low reflect the long-term sentiment of the market? >> i would agree with that. first of all, don't feel sorry for traders. they're the last people in the world we want to feel sorry for, because they cry with two lows under each arm. in terms of long-term investors i would be more concerned about, we get into periods of uncertainty like we're in now, when you don't know what to do, the best thing to do is simply sit on the sidelines. melissa: yeah. >> try to pick the bottoms and trade this volatility is great when it works, but really almost an exercise in futility
for most mortals. it's very, very difficult, but i would agree with you, at least, if i hear you correctly, i think the lines of least resistance for the market longer term are higher, there's a lot of reasons to support that conclusion in my opinion. melissa: okay. >> and when the dust settles and the issues, the geopolitical issues clear as far as trade is concerned, perhaps then it will be time to put a toe back in the water. until then discretion is the better part of it. melissa: teddy weisberg, thank you, i'm so sorry. >> let the traders cry with two loaves under each arm. david: don't feel sorry for traders, making a lot of money. taking a hard line on illegal immigration, the president blasting critics from his administration, people on both sides of the aisle want to change. congressman keith roughus joins us from the meeting,
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to have impact or just the nervousness enough? >> the nervousness matters, the markets are sending a very clear signal that new restrictions on trade make us all poorer and kind of a shame because this trade tension, the trade fights, the new tariffs, they're happening in an environment where the economy is looking like it's going to have an outstanding second quarter, that's thanks in large part to the president's assault on taxes and regulation why. he now wants to regulate trade going the opposite direction on trade, i don't know. melissa: what if he gets a great deal end? s up breaking the other side. we said it a couple times already, he said at the g7, let's drop all our tariffs. nobody thought he was going to get a deal with north korea, he's on his way there, this could work too? >> i love the proposal of drop all tariffs, subsidies, he's not moving in that direction, he's raising taxes.
it's not a huge tax increase, if you think of tariffs as a tax on imports, we're going from 1.5% to 2% but it is a tax increase. so you know, he's going in a bad direction if the idea is to lower these taxes and tariffs, barriers. melissa: let me ask but immigration, too. that's the other pit fall we have here ahead of the midterm elections. you know, we obviously have this horrible obstacle going on down at the border, seems like he's putting pressure on congress to do something both congressmen on either side of the aisle who sat on their hands and pointed the fingers saying that side won't make a deal. how do you think this plays out? >> kind of thinking the deal happens next year, not this year. i certainly hope something can happen. watching the tragic scenes and it's really just enforcing the laws, is leading to a lot of the bad situations, so you hope that they can get some kind of
a deal, he's meeting with republicans in the house in a few minutes and let's hope that maybe there's some kind of a compromise, do something for the people who are brought here as children, allow people better chance to apply for asylum. melissa: there is definitely a compromise, everybody wants something, that's what's so stupid, and have you chuck schumer holding up his pen saying the president can turn this around in an instant, here's me pen. maybe he should get busy with his pen and write new legislation. this is from the "national review," the best check on the president isn't hashtags or press releases or think pieces, it's the check the founders designed, act of congress exercising lawful authority over immigration in america. why are they not doing their job and straightening out the immigration system? >> yeah, i hope that mr. schumer doesn't turn down a good deal that helps a lot of people out of a stubbornness and a desire to prevent donald
trump from saying he got funding for the wall. so i think the wall, but something that mr. schumer might like for the so-called dreamers seems like a good deal, you have the president needs to sell conservatives in his party on who may want absolute reduction even in legal immigration. he needs to say no to those folks. melissa: maybe that's what the press attention is about. heating up the pressure. james, thank you. david: remember the first two years of obama, the democrats had both houses and the presidency. they couldn't get it done either. they're pointing fingers now but it is a tough cookie. melissa: they're all useless. david: leave it at that. you figured it out. president is set to leave the white house where he's talking about the way forward on immigration. a live report from capitol hill where things stand right now, coming up. benjamin franklin
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. melissa: president trump expected to leave the white house headed for capitol hill where he will speak with congress about border security, calling on congress to fix loopholes in a current law. we may see a bill later this week, edward lawrence with the latest. reporter: the president had a clear message, he's enforcing the current laws in place but wants the rules to change and needs democratic help to do that. he's going to bring that message here to capitol hill in a few hours or couple minutes he's going to leave the white house to come to capitol hill and talk with house republicans later this evening. >> as a result of democrat-supported loopholes in our federal laws, most illegal immigrant families and minors from central america who arrive unlawfully at the border can, not be detained together or removed together, only
released. reporter: he will talk to those house republicans about two specific house bills. one of them a little compromise that has some democratic support it. allows dreamers a path to citizenship and gives $25 billion for border security as well as building that wall that president donald trump has been talking about and keeps families together going through this immigration process. the second bill, more of a conservative bill. it does not open the door to dreamers but does also keep the families together as they go through the immigration process. now lawmakers, most of them on both sides are saying something needs to be done to keep the families together, though they differ how to get there. >> we hope to reach out to the democrats and see if we can get a result, which means making a law. >> mr. president, have a heart for a change. take that [ bleep ] pen of yours and do away with this
horrendous inhumane policy of yours that rips children from the arms of their parents. reporter: as you can see, democrats really dug in about this and not willing to overwhelmingly support a joint effort going forward on immigration. we'll hear what he has to say. melissa. melissa: they are all pointing to someone else to do something, unbelievable, edward, thank you. david: i would like to hear what you do with adult immigrant sent to jail. what do you do with the children? do you send the children to jail? it's a very tough question. not so easy to say the president is doing this just because he likes to see families separated. that's not true, absolutely not true. nobody knows exactly what to do. house lawmakers grilling the d.o.j. inspector general on capitol hill. what we learned about that? coming up. we started making wine
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. >> it is not the public's job to prove the bias shown by the fbi did not influence decision-making. it is the fbi's job to prove to the public that this manifest bias was not outcome determinative. and bias and fairness cannot coexist. david: congressman trey gowdy opening today's joint committee hearing with the department of justice and fbi director asking if the bias affected the clinton e-mail probe, the start-up of the russian probe and the 2016 election itself. here now is chad pergram, fox news senior producer. thank you for making it with us. >> of course. david: did the clear bias, nobody denies what peter strzok and list page said was anything
but virulent anti-trump bias, did it affect the way the fbi acted before and after the election? >> this is the issue that peter horowitz, the inspector general said. he said those decisions, overall decisions about prosecutions, whether to prosecute, not to prosecute, were not made by them but made by a team at large, and so he put that outside the realm. you know, this came up in the hearing yesterday on the senate side where orrin hatch criticized christopher wray, the fbi director, saying there's a few bad apples at the fbi. wait a minute, the bad apples were people like james comey -- david: exactly, one thing horowitz did say which the investigation was affected by bias was they got off of the hillary e-mail thing quickly and on the russia probe very fast. peter strzok turned the investigation from the hillary
e-mails to the russia trump probe and that might be bias. >> we're going to get to the russia part of this. the first part dealt with the hillary e-mail investigation and the second part is russia. we're going to have the president to talk to house republicans. one thing that seemed to drive democrats up the wall, the fact they were talking about hillary clinton's e-mails in june of 2018. this is something eric swalwell, said the people aren't calling asking about hillary's e-mails, they're calling about separating the families at the border. david: talk more about that coming up. chad pergram, good to see you. >> thank you, any time. melissa: escalating trade tensions and impact on consumers. what it means for the price of your iphone? that's next. (siren wailing)
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in china are not subject to any tariffs, according to a report in the "new york times." when you say you're going to invest $350 billion in the u.s. economy, i guess you get a little benefit. melissa: or fake news from the "new york times." "the evening edit" starts right now. >> china has been taking out $500 billion a year out of our country and rebuilding china. i say we have rebuilt china, they've taken so much. it's time, folks, it's time. liz: president trump saying it is time to deal with china and the problems with trade. we have seesaw action on the dow. it is turn around pumping up after a 400 point plus loss. peter navarro saying china has more to lose than the u.s., that's when the dow started to retrace. secretary of state mike pompeo ripping into