tv Cavuto Coast to Coast FOX Business March 19, 2019 12:00pm-2:00pm EDT
boeing being positive is helping us as well. stuart: there is fed meeting starting today. we'll hear from fed chair jay powell tomorrow. maybe that is a factor. few expect fed to go really strong on raising interest rates. i had my say. neil, it is yours. neil: stuart, thank you very much. to the northport at this coof the white house, the brazil president, jair bolonsaro. called the trump of the tropics. enjoying improving poll numbers in his country. saying the way things traditional go in lated earn america has to change. remember he was very helpful, in a lot of those dissidents who wanted to make their way to brazil, neighboring countries like colombia. he is effective in that regard. very tight with the president.
very tight with steve bannon. we'll get into that a little bit with gerry baker. i want to let you know concerns about the upcoming press conference, always pay-per-view affairs, can watch them on basic cable, the markets have funny way of showing it. despite boeing the dow is up 182 points. we'll no doubt hear a lot of questioning back and forth how the brazilian president wants to work closely with the administration. how to deal what is going on with venezuela. we might get something more detailed whether the president would be inclined to use the military option which brazil might play a role. way too early to say. the press conference shortly after the president's arrival, will be at 1:45 eastern time. about an hour 45 minutes from now. preview of coming attractions with ed lawrence at the white house. hey, ed. >> literally as we speak the brazilian president making his way to the front gates of
white house. that is why i'm looking over here. he will meet with president trump with a working lunch at the white house. he is known as the trump of the tropics. his wants a brazil first, sort of sentiment around the world. president jair bolonsaro said he is willing to, wants to work with closer relationship with the administration. past administrations in brazil have not had friendliest relationships. national security advisor john bolton says this is a very important meeting. listen. >> this is potentially historic opportunity to redirect relations between our two countries, the two largest democracies in the western hemisphere. i think it will have profound impact not just in this hemisphere but really around the world. so this is a huge opportunity for both countries. reporter: again the president just passed behind me coming to the white house, the front gates
of the white house being greeted by president trump who is on his way, at the front door of the white house waiting on the president of brazil. china will be a big topic. allowing huawei to come in do the 5g network, possibly spying implications to that. brazil is largest soybean producer or exporter in the world because they picked up slack on stuff that china didn't buy from the united states. trade war could affect them if the trade war ends. brazilians also saying they will help with venezuela. they have up to now. brought the countries much closer together. brazil share as big border with venezuela and they are helping to get aid across the border there. the head of council of economic advisors released an economic report of the president today. that economic report showing 3% gdp growth they believe for this year, 2019. above 3% growth until 2023.
meeting of the two presidents happening now. neil? neil: buddy, thank you very much, edward lawrence. president is making no doubt how close his ties are to the brazilian president. pro-american brazilian president arrived in d.c. that was a tweet i should specify here. beginning after partnership focused on liberty and prosperity, something that all brazilians have long wished for. all right, let's to to "the wall street journal" at large host gerry baker. you had a chance to talk to steve bannon, curiously enough tight with the brazilian president, very involved in his election as well, the populist wave that gripped the continent. what do you make of it all? >> steve bannon is very good spotting, articulating rise of discontent in many parts of the world with the established order. that is what we're seeing. that is fundamentally what this so-called populist, global
populist revolution or movement, whether you want to call it is, whether elected trump here. whether gave rise to brexit in the uk. what is giving rise to the rise of populist parties, populist government in italy which bannon is close to. whatever one thinks of steve bannon, he has checkered relationship with the president and -- neil: how did they get along? >> pretty well. neil: tensions after they released from the white house? >> tensions with the president's family. ban an no played a really important role in the 2016 election. he was there on the campaign right at end of the he came in, expressed complete support for the president but i did i think a really good job channeling that discontent people had with the established political order which donald trump himself has done a brilliant job of
articulating. i think there is kind of a mind meld with them. whether bolsonaro or italy or brexit in uk, one of the big things we talked about on my show last week, the threat from china. the fact that united states and china on a course of real tension next five, 10, 15 years. part of the challenge there is about getting the rest of the world to side with the united states. brazil is quite important in that. china spent a lot of effort and money in latin america the last 20 years. neil: china i believe is their biggest commercial trading partner. >> absolutely. neil: bolsonaro walks a fine line. >> they're playing both ends. all of these countries are increasingly faced with challenge of allies with the united states and wanting all the chinese money and economic opportunities that come with it and i think oaf time that tension is going to rise. people will have to make a choice. whether they're in asia, africa
or rob. italy last week signing on to the latest chinese economic initiatives. i think one of the u.s. challenges is going to be to pull those countries away from the chinese embrace. it is going to be really important. bannon is helping with that. i think someone like john bolton we heard from understands that. that will be one of the big geopolitical stories i think of the next five years. neil: president would like to insist, our president, that the wind is at my back. say what you will of my populism appeal it is paying off in the economy and markets. now this chose 51% credit him for that. seven out of 10 think the economy and everything is going hunky-dory. what do you think of the fallout of that? >> i think economy is clearly in good shape. there is uncertainty. people are nervous still about what happens with the trade negotiations. the, we'll see results of the fed meeting tomorrow, but fed is largely taking itself out of the picture. three months ago everybody was worried the fed would kill --
raise interest rates and kill economy. neil: it telegraphed no moves for a while. >> we'll get so-called dot plots, the chart which give the fomc, federal open market committees, members projections where they expect data like inflation and of course interest rates to be. we've strongly expect that the interest rate chart will show you know, maybe one more interest rate increase this year but no more. widely expected to be peak of interest rate cycle, on one level slightly concerning. neil: not a lot of wiggle room. >> when interest rates hit the peak maybe economy is cresting. but on other hand doesn't look like the fed will do anything to derail the strong expansion. neil: so they hope. gerry baker, "wsj at large" with gerry baker at 9:00 p.m. on this fine network.
ford is boosting truck/suv production in kentucky. that is where they're putting all the bets on big ol' suvs get eight feet a gallon. no. sometimes more than that 10 feet. i'm joking that is where the market is, money for ford. so it is growing. obviously a veiled reference at least in ohio, gm is not, president wants to address that with mary barra. wants that sooner rather than later. john layfield on all the crosscurrents. what do you think, john? >> i think ford is doing a good job with the pickups and suvs. they have done a terrible job as car company. the stock was 17%. i own the stock with 7% yield. i own -- neil: really has a 7% yield? >> 7% yield because it has grown down to that they have lost so much value. 6.99% i think was yield i looked up before i came on air. assembly plant in kentucky going three shifts to two.
some employees are shifting to the trucks. not exactly growth of 550 people. more of a shift of employment. ford is doing good job with trucks, suvs an economy as you said is doing very well. neil: overall economy, which a lot of americans are giving president credit, 51% latest survey. more than seven out of 10 think things are going along just fine. what do you think of that? >> i think economy is doing well. i think we got full employment right now. we have wages that are going. consumer confidence. when you have consumers are 73% of gdp, i think that is huge. that consumer confidence is very high. i think we are doing long term structural damages to our country. the president is hosting right now one person taking contracts from our farmers forever. doing it at benefit by china providing infrastructure. but we're losing contracts right now to soybeans, to the region in brazil. the china is building out infrastructure to go to amazon and panama canal to take that
out. president hosting person who will do long-term damage because of his tariffs to our farmers. neil: we'll watch it closely. john layfield, thank you very much. >> thank you. neil: all right. we told you the president meeting with the brazilian president. the man is often been called the trump of the tropics, very conservative, very populist, very blunt, also tweets but obviously in portuguese. we're waiting for that press conference to come later on today but there is a sit-down when the two leaders are photographing in the oval office. then that tape is rushed to the various powers that be so that you can see it. we're waiting for that. it is called a pool spray. this one could be interesting. more after this. ♪
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neil: you follow the money and you follow the candidates who are generating a lot of the money. some are, some aren't, no more so than beto o'rourke in pennsylvania, new hampshire, today. facing some resistance on the left despite the record fund-raising, because of the record fund-raising. read where this is going thus far. charlie gasparino, doug schoen follows this stuff closely through many an election. last but not least, kat timpf. what is clear, beto o'rourke is flavor of the week or month, when all said and done, with that the handling of that pressure, he is not doing that well. >> right. he is a charming guy. in terms of fund-raising his rollout went great, he got a ton of money, but in terms of media presence, all things written about him, said about him, not so great. he kind of did a lot of that to himself being a democrat. he shouldn't say, my wife mostly takes care of the kids. or a white guy. he is also a white guy.
he has apologized for being a white guy to his credit, in terms of how the democrats would view things at least. neil: doug, early on, do you follow money, who general rates that early on, even in small sums? >> yeah. neil: how do you distinguish the case of o'rourke, versus popularity enjoyed in texas, media money came in versus as national candidate? >> all good questions. simple answer, yes i follow it and follow it closely. two reasons. it is the first real indicator of levels of support and enthusiasm. it goes beyond polling which, however useful is usually at this point just name recognition. neil: right. >> second, money is in an indicator of what the candidate will be able to do organizationally, which frequently, but not always translates into votes. so i look at it, i'm interested, and the big deal about beto o'rourke i think is, neil, is that he was able to raise more
than anyone else out of the box and prove that maybe, just maybe, he will be able to do nationally with democrats what he did in texas. neil: do you think he can? >> i think he can. not sure he will. neil: what do you think, charlie? >> i think what is interesting, wall street, the special interests in general are really not in the money game just yet. i think that is an indication that joe biden is not in it totally just yet. listen, you hear what i hear. 99.9, always a chance he wakes up in april, says, not going. but he is telling people he is. when he gets in, he will get the wall street money. now i don't know if it matters anymore. in the old days, i would say the old days being 2018, barack obama, made sure that he locked down a lot of wall street cash. he had a big meeting at that bar near the fox headquarters in washington. larry fink there. he dick fuld of lehman brothers. gary cohn was there.
they formed, and paul volcker, they formed a sort of basis of his wall street support. they gave him seed money to go out and raise gazillions from outside. neil: he raised a lot on his own and won iowa that year. he was off to the races. >> but my point is back then the sort of modus operandi get wall street locked down. go out. now -- >> even something that other democrats attack you on if you get a lot of wall street money. saw that with hillary clinton. wall street is evil and they kill your grandma or whatever else they're trying to say about businesses that actually do well but it actually can kill you. >> they actually do kill your grandma. neil: he is way outside the box candidate, entrepeneur, andrew yang. he calls himself the asian could tank i don't know. he had a big crowd in san francisco. 3,000 wanted to hear what he had to say. some refer to him as dark horse,
surprise candidate here. this is his last visit here. take a look. do you worry good intentions are going to mean you will stick americans with good sized bill? >> in this case we're trying to create a dividend for all american adults, freedom dividend. every american citizen is owner and shareholder of the richest most advanced economy in the world. we can easily afford 1000-dollar dividend which will go back into the economy anyway. will create 2 million jobs around the country and grow the consumer economy. neil: andrew yang was referring to referring to $1000 a month pretty much to everybody. the idea it would generate activity. what do you make of that? >> this used to be called negative income tax. it was milton friedman idea but there was another part to this which -- >> paying for it. >> you substitute the basic income for all social programs. didn't sounds to me like andrew
yang was going to take anything away. neil: he said it would lead to that, people wouldn't need as much government assistance. you're quite right, one would swap the other. >> milton friedman never said hand people checks. >> no, he was. >> supporter of -- >> negative income tax. >> maybe the negative income tax but -- >> that is what inspired moynihan to do the family assistance program. >> i get that. this is pure keynesianism. neil: popular with that base. he is leading the charge. that is a risky charge, what do you think? >> i think in the past it would have been but now almost if you're a democrat not being for something like this is riskier. it is a lot harder to be on the left now. you have to be way further left than you had to be to be progressive. neil: cory booker wants minimum 400, $500 a month. mayor of newark wants same thing. it is catching on. >> this is joe biden's
calculus -- neil: what is biden's position? >> what he will say, people like a lot of the welfare state. they like progressive politics. neil: but he will have to go further left. >> he has to. >> i'm going to do it not as far left as the other ones care out a niche position. you have your doubt. >> i have my doubts because the party wants younger women, minorities and biden is none of those. listen to his speeches, knows he has a lot of liabilities. >> do they want to win? these other people might win. neil: you have biden sanders like cocoon club. >> sunshine boys for president. neil: thank you very much. meantime, the social media as we know it have inherent bias against conservatives? right now one conservative saying i have the proof, after this.
neil: all right. still waiting on the white house for that joint presser. that is coming later today. but some comments from the president ahead of that moments away. twitter, facebook, are facing familiar charges of bias. hillary vaughn with the very latest and latest examples. hey, hillary. reporter: neil, congressman devin nunes says this is the first lawsuit of many he plans to file targeting social media sites, targeting him with fake claims and no consequences. he is asking for $250 million in damages for a flury of tweets he says caused him extreme pain and suffering. >> the case we're basically making this was orchestrated effort. so people were targeting me. there were anonymous accounts that were developed. look there is not supposed to be -- these accounts are not supposed to exist. twitter says they don't have
accounts that do this. what happens twitter becomes gas lighting for all of the news. when they're regulating us, they're regulating what people can see on my tweets which they have done, then they're proliferating out things they agree with with algorithms they develop. they need to come clean. reporter: so three twitter users are at the center of this lawsuit. two anonymous parody accounts what they say are devin nunes's mom and devin nunes's cow. a republican strategist at center of this too, neil? neil: hillary, thank you very much. "daily caller" editorial director vince collagnese. this ahead of the president and pool spray moment we're going to get. he is feeling very emboldened, the president, with good poll numbers for once on the economy. more than half of americans giving him credit for it. what do you make of all this? >> the poll numbers are really good for him. i think he should be buoyed about this. get deeper into the campaign,
get question asked, rhetorical question, are you better off than four years ago. a lot of people will resoundingly say yes. all economic numbers clearly headed in the that direction. deregulation, led to flourishing economy. president has a lot to be proud of. occasionally twitter distractions. look at polling. the requests for impeachment dropped dramatically. "usa today" is 20%. it dropped 10 points since october. people are with the president or their opposition to him is starting to subside actually. neil: we're going to the white house very shortly, vincent. i am view of give economy and everything else the president should be up 10 points, that tweeting, criticism lately of john mccain, that drags it down. it is his personal kind of problems that come to roost. >> yeah, that's a true. the thing to remember news cycles don't even last more than
a day. neil: but this form as pattern and image that he is nuts, you know? >> i got you. week 1/2 ago we thought the michael cohen testimony was lasting up until the election. neil: fair enough. hang on that thought, buddy. the president now with the president of brazil. >> mr. president, brazil is offering -- >> [inaudible] >> we're looking very strongly. we're very inclined to do that the relationship we have right now with brazil has never been better. i think there was a lot of hostility with other presidents. there is zero hostility with me. we're going to look at that very, very strongly in terms of whether it's nato or something having to do with alliance but we have a great alliance with brazil, better than we have ever had before. [shouting questions] [speaking in native tongue]
>> translator: mr. president, brazil is working to offer the united states access to rocket launch site in brazil. americans will be able to go to brazil without a visa. what would you like president bolsonaro to get to brazil, as a result of this visit? >> well, we are working on different military sites and military options. we're working on visas, going in much easier fashion. all of that is good. we have many things that brazil would like. i think we're working on those things. one of the big elements of the relationship is trade. brazil makes great product. we make great product and our trade has been never as good as it should be in the past.
in some cases it should be far, far more. i think trade with brazil will go substantially up in both directions. we look forward to that. that is one of the things that brazil would like to see. [shouting questions] reporter: [speaking in native tongue] >> steve, steve? reporter: what do you want to see happen in venezuela? >> we don't want to say exactly. i know what i want to see happen
in venezuela. we're talking about different things. all options are on the table. a shame what is happening in venezuela of the death and destruction and hunger, hard to believe one of the wealthiest countries is now one of the poorest and most impoverished countries. we'll talk about that at great length. >> [speaking in native tongue] reporter: military action in venezuela. are you offering brazil, are you offering brazil to join the oecd? >> i'm supporting their efforts to join and we are just going
to, i think i can speak for both countries, all options are on the table. every option is on the table with respect to venezuela. reporter: would you like brazil involved with military option? >> we haven't discussed it. we're going to discuss it today. [speaking in native tongue] reporter: mr. president -- [inaudible] >> very unhappy that he didn't repeal and replace obamacare as you know. he campaigned on repealing and replacing obamacare for years and then he got to a vote and he said thumbs down. our country would have saved a trillion dollars. we would have had great health care. so he campaigned.
he told us hours before that he was going to repeal and replace. then for some reason, i think i understand the reason, he ended up going thumbs up. frankly had we even known that we could have gotten a vote could have got somebody else. i think that is disgraceful. plus there are other things. i was never a fan of john mccain. i never will be. thank you very much. everybody. [shouting questions] >> neil: i was never a fan of john mccain, i never will be. president of the united states taking jabs at an american hero that is now dead. whatever you think of john mccain. i never heard that john mccain was going to vote for repeal and replace plan and surprised the president with the fame news thumbs down. i have never heard that the president making it very clear that after all this time and
after all this back and forth, after the passing of john mccain he is still speaking ill of the dead. we'll have more after this. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪ (bird chirping) lots to do, hope you fuelled up. sure did. that storm sure ripped through. yep, we gotta fix that fence and herd the cattle back in. let's get at it. (whistle) (dog barking)
it's smarter trading technology, for smarter trading decisions. and it's only from fidelity. open an account with no minimums today. neil: sometimes there is justification for paranoid that they are out to get you. facebook is confirming that it briefly suspended white house social media director dan scovino account because of automated bots. they since apologized. reactivated him. he wondered when he wanted to respond to criticisms why facebook essentially shut down his account and he couldn't respond. facebook admitted, yeah, our bad. whether that is enough anyone's guess. disturbing news for "the national enquirer" american media parent company it did in fact pay 200,000 buck to the brother of jeff bezos's
mistress. attorney says this makes bezos's case send stronger that the company was trying to strong arm him. what does this do in on going battle back and forth between bezos and american media? this makes bezos' case that they were trying to coerce something? >> it add as criminal element. 18 u.s. code 2511, interception or dissemination or use of a private communication using an electronic, mechanical or other device, can result in up to five years in prison for the perpetrators. so not just person obtaining communications personally without the consent of persons who had the private communication but also using or threatening to use them in the case of ami, "the national enquirer," if the allegation is in fact true. neil: paying someone to give you information is that a criminal offense?
>> no. but intercepting private communications, electronic, economic call or other devices is. neil: got the texts back and forth between his sister and jeff bezos, passed them along to "the national enquirer" for pay he is just as culpable, isn't he? >> absolutely. there are two parties here. if this is true, two party cost be responsible. it is interesting to note later in the same statute 2520, give as private right of action. bezos could susan chez if it is true, $200,000 disgorgement of profits and "enquirer" as well. neil: incredible stuff. apologize for truncating it with breaking news. hope to go back to the white house, president meeting with his brazilian counterpart. for those that missed it, using opportunity to go after john
mccain yet again blaming him for replace movement that republicans were leading about a year-and-a-half ago to find an alternative to obamacare. he cannot let go. right now, a lot of people are wondering as president of the united states speaking ill of a dead man, maybe he should. more after this. some things are out of
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>> safety is at the core of who we are at boeing. insuring safe and reliable travel on our airplanes is an enduring value and our absolute commitment to everyone. soon we will release a software update for the 737 max that will address concerns discovered in the aftermath of the lyon air 710 accident. neil: boeing ceo trying to get in front of this, boeing doing everything they can to make things right but what happens after this and perceptions that the company might have strong-armed its way getting these planes approved bit faa and others in the first place? capitalist pig hedge fund manager jonathan hoenig and "fbn:am" co-host lauren simonetti and joe durant. you're looking at this, how boeing is handling it, what do you think? >> i think they're doing an
admirable job, neil, in a very difficult situation. boeing is unusual, important stock. it is a high-priced stock. it has big i am act on the dow for obvious reasons. neil, air travel is safe. one in 100 chance getting into a car accident, one in 11 million chance of getting into plane accident. why thousands and thousands of flights are flying today. what the boeing ceo is worried about, it was not them that grounded plane. it was government whim. would government ground the wright brothers thinking their plane was unsafe? that is why the stock is up for the year. i think ultimately they will get out of this very difficult situation relatively unscathed. neil: much depends, joe durand, how much role boeing played on early on to get the maxes out into the market, selling as they are now, 50 every month, that they might have strong armed. there is a lot we don't know but
are there still issues that could come up that could hurt the company? >> most important thing is this endemic? were they taking shortcuts on security and safety? i don't think the strong-arming thing is as important as whether this was isolated incident or whether they were moving too quickly and didn't do all checks that were necessary. whether there was enough training when they launched. this is software and training issue. were they moving too quickly or systemic? i don't think there is reason to be the case. that is the worst-case scenario for boeing. kind of like a drug company that get something out before it is tested properly. long and very distinguished history of safety, still important to point out. that is why the stock has done so poorly. again it is up for the year. so taken into context. also to remember, they have oligopoly. not like they have a lot of competition. neil: you read my mind. lauren, you got into this early
in the morning. there is the notion there is airbus and boeing, right? china is trying to cobble together airline aerospace giant to compete. fact of the matter is, especially in the united states, boeing rules. the others just stand back, right? >> but this is still a loss to their reputation because there is panic out there. that will affect the company, particularly in the short run. it also hurts the faa and regulators, we look at coziness of the relationship. under staffing of faa to look at issues with the plane. there is also complacency out there among the flying public. before the october crash, the lyon air crash, we really hadn't had a major commercial airline crash in quite some time as jonathan says it has become safe to fly. this raises a lot of questions. it will force us to rethink a couple things. i think boeing responded too late. they should have gotten in front a little bit faster. but i hope they don't respond too soon, getting grounded 737
maxes flying again. neil: that could happen soon. maybe not so soon. meantime i want to switch gears, guys, to talk about tesla. sec is saying elon musk is violating court orders with his tweets. elon musk says he is not. he is free to tweet to do what he wants to do and they're making a big to-do for it. jonathan, your thoughts? >> this is almost unbelievable stock and story. elon musk nothing seems to hurt this company or hurt this stock. now that has changed. almost after elon rolled out the model y, there was less than even immediate enthusiasm, the stock started to sag. issues like this. there are tussles with the sec over a year now finally starting to catch up with the stock. from investors perspective that own the stock, you have to imagine like at the end of the music man, harold hill made all the promises the public is saying where is the band, where is the band? where is the profits when it comes to tesla? that is why you're starting to
see a challenge at the lower end of the trading range. neil: that is a brilliant analogy. joe, a lot of people are looking to this, maybe reality caught up to musk. i'm not taking anything away from beauty and elegance of tesla vehicles but in interim other carmakers come forward. we'll have an electric mustang i guess in the next few months. all the major carmakers introduced sleek, electric vehicles of their own. pizazz and panache that was exclusively tesla, what do you think? >> the rest of the market caught up. tesla had three-year exclusive window for a market of their own, that is changing. the noise from the ceo, the unpredictability what he might or might not do is not helpful to his cause. when you look, what is the new tesla going to look like, hard to imagine they can do it profitably. if you're driving out in orange county, there are some teslas,
it is just a, not that the car is not exceptional or interesting. if bmw, mercedes, any same brands do it for price point, you will do it for something that looks a little footprint. they all look the same footprint, the same way. for efficiency point it looks boring, like a fleet car. the biggest thing is, elon musk talk is not helpful having sustainable, viable long-term outlook as investor. neil: maybe he can't shut up? >> i know. neil: better part of valor, brilliant guy, that is obvious. many said he is the thomas edison of our time. that might be too much brilliant guy, we get it. >> take the twitter account away. >> never will happen. thomas edison had a twitter account. neil: can you imagine? >> this is the age that we're in, between the president and elon musk, twitter is having --
neil: others talk about electricity, they're dopes. i don't know. >> he is a eccentric buy. he is creative. will not lay off twitter it he doesn't have to. absolutely. should the board nudge him to do so? absolutely. but i don't think it will happen. neil: jonathan, notwithstanding he gets in his own way, not talking about the president but elon musk? >> neil, i think it is frustrating but hasn't bothered the stock. a lot of time uncorn stocks, the music keeps playing until it doesn't. for example, the joe rogan interview where he was smoking can that about, or initial lawsuit, the stock recovered time and time again. this time it hasn't been the case. on the way up nothing seems to matter. mark zuckerberg and hoodie nothing mattered. on the way down that is when investors ask questions. neil: we'll see. guys, thank you very much. the dow is up 30 points. boeing is doing okay. tesla all over the map. confusion what will come out of
the white house later on when the president and his counterpart from brazil meet reporters that will happen a little less than an hour from now. following up on president's comments yet again, disparaging john mccain. you can imagine that will be center of attention as well. more after this. if ywhen you brush or floss, you don't have to choose between healthy gums and strong teeth. complete protection from parodontax has 8 designed benefits for healthy gums and strong teeth. complete protection from parodontax. ..
we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ neil: take a look of the dow jones industrials way off their highs. the bloomberg report says the administration are concerned mom we don't know specifically what the pledges were, whether they had to do with the patterns and patent infringement and dealing secrets and all the stuff you the heard about concerns the chinese didn't want to give everything away. that might be a catalyst in what we do know is the top of this on the potential it could mean for delaying the deal had taken
stocks up their highest paid about 65 and a quarter-point spirit in the meantime from the latest on the president's optimism about the economy. given some others that he personally raised. we don't know for how long. deirdre bolton. >> there's a lot of talk about the political sniping, whether or not it takes away from the economic message and its annual 2019 economic report shows so much success for the trump administration. as we know when americans go to vote, most people base their decisions on whether they have jobs. whether they think they are fairly paid, basically what is in their pocket. in fact, in other news organization recently took a poll. 71% of respondents said the nations economy is in good shape. that is the higher share since february 2001. certainly worth underlining,
worth noticing. more important for 2020 as voters go to the poll. 51% of americans say they approve of how president trump personally is handling the economy. so this annual economic report that we got earlier from the president's office is meant to inform congress and publishing it goes back to the employment not have 1946. i want to highlight one of the statements from it. investment. investment, manufacturing, employment, worker comp in new startups have all risen sharply in two years and the 2016 election. these are not accidental but rather reflect the trump administration's deliberate matters. the white house account treated this out. for the second consecutive year, the u.s. outperformed expectations of recent trends by a substantial margin. for those who are concerned in among them economists that they don't see the strength showing up in recent data points that the chairman of the council of economic advisers told us how he
sees growth for the rest of this year. >> for sure there's a lot of uncertainty in december in the first quarter is looking like once again we'll have another 1% quarter. we keep having 1% first quarter is in 2% third quarters. >> kevin hassett dismissing worries that a recession might hit next year. a lot of people talking about sugar rush and with these lower corporate tax rate have boosted investment in our keep the u.s. economy humming as we know. people will vote with their feet in 2020. neil: deirdre, thank you very, very much. the markets the president's friend with the wind that is not the wind that is not feared but is he creating his own wins the other way when he says stuff like this? a >> i'm very unhappy if he didn't repeal and replace of omnicare as you know.
replacing a balmy care for years and then it got to about any says thumbs down. i think that's disgraceful plus there are other things. i was never a fan of john mccain and i never will be. neil: pollster chris william, for about a regional field your robin biro. i don't know what to say on this because you could argue on politics or whatever, but that is just tacky. it's tacky and it's wrong. it's criticizing the guy who's dead. he was a war hero, genuinely good and decent man. the president is alive, john mccain is not. speaking ill of the dead. icons by viacom i don't expect them to be phony, but come on. >> i couldn't agree any more common meal. a trump aide recently posted to her instagram account a contrast showing john mccain's war medals and then the feel of the present of united dates with
president trump's name on it. they have a lot to boast about. guess that the jobs down last month and specifically down to 4000, which ways we've been seeing 22,000 averaged out for the last 12 months. still one month isn't a good optic of how things will project out for the following year. neil: i agree with you there. i would quibble with you whether that represents a slowdown. the president is stepping on his own good economic market message. i think he'd be up a lot more in the polls and against any of these democratic candidates given the strength of the optimism that the pair in in the part of americans seven out of 10 say they like the economy as it is now. more than five out of 10 credit the president for that but it would be higher if he didn't do stuff like this. >> those numbers are the highest they've been in 18 years.
the political science fundamental models, presidential elections are determined on three things. incumbency, whether were a piece on the third one the economy. the approval ratings certainly factors into it, the democrats talk themselves into believing that father is to it. as they resent the democratic nominee -- neil: you are quite rice. it usually is. are you worried could be jeopardizing of the same stuff like this. >> we get closer to the election you make it more about the economy. make it more about the opponent. make it more about the capitalism and socialism. i think what we're talking about in march of 20 night team has very little to do with people decide their vote. i'm just saying it's a very big
concern because it's not just march. october 17. the president is stomping on a message. this kind of stuff starting to focus on a network and its various news anchors, who he likes and doesn't like going out there individuals and other snl should be regulated. this is crazy. >> the president has his own worst enemy. he's done a lot of good to his credit but these things take away from it. getting angry about a rerun of all things from "saturday night live." where in this world where place for that. i personally am concerned there is a report out from goldman sachs indicating a possible slowdown showing only half a percent. growth in gdp over the next
quarter is what their projectionists. i never had against. they sat back and acknowledge the good he mentioned in a tweet . >> chris, i did want to get your take while i have you here. you think it was so razor thin w. one. he barely won. do you think republicans should worry about that given the money he's raising and experiences that a someone to watch. >> he certainly is. he ran a solid campaign for senate but as you said ted cruz did win handily. by the end of the election everyone is talking about o'rourke ended up so popular. he was nowhere close to senator cruz. our work raise a lot more money
for the senate in texas beauty but the other solid campaign organization. the one thing he didn't have that authority faith in his mainstream media scrutiny. some organizations even cut deals to keep negative information private until after the election which i just find unbelievable. if that happened in fox news is doing something like that of the front page for weeks. he's not dealing with opponents dealing with the media scrutiny he's never faced before. and i think it's going to be a different can see out of the next few weeks than we saw in 2018 against ted cruz. neil: i wanted thank you both. in the meantime, we are following a bloomberg report that some u.s. officials are worried that china might be walking back some trade pledges. we don't know what pledges to know what the immediate reaction or take on not maybe this'll delay the china court. already the markets are considering the end of the month
meeting this president would have with his chinese counterparts would be pushed off. now we hear the late summer if ever. commentator greg, what do you think? >> welcome and these are brand-new headlines i don't have a lot of detail or analysis for you. it goes to show that these negotiations are very complicated. some of the things the administration is asking the chinese are pretty unprecedented they are asking for the privilege of being able to retaliate against china if china is in their judgment not living up to their end of the deal in china would basically forgo the right to retaliate in response to the u.s. penalty. that's a pretty big gas. it's not surprising there's some hesitation on the part of the chinese took redo all the things americans are eating and it goes to show this is an ongoing risk for the economy this year. neil: i wonder whether the source of risk -- do you think we have sorted taken a given
that we're going to get a china trade deal. this hints that we might, but it might be really pushed back. what do you think? >> most people taken as a given we would get the china trade deal but i would emphasize very few people have conviction about what would be in the trade deal. in the last month or two, what you saw is a lot of rising confidence in a deal based on the perception that trump wanted one so bad that he wasn't going to hold the line of them of the tougher demands americans traditionally have had. in particular deep down reforms to the chinese system are seen as basically expropriating foreign company technology. you might actually see it a positive sign things have had a bit of a bump in the road because it suggests americans are accompanying their stance in the end product will be more durable. tree into one of the things were learning them or tried to get the details of what china is pushing back on. i'm sure intellectual property in all this kind of stuff that u.s. companies argue china
steals from them. china of course argues that point vociferously. we don't have a deal and i would imagine they wouldn't like it. what do you think? >> market will be superficial about that. they're mostly concerned about this year and next year. essentially they don't actually care within the deal. they just wanted the deal to basically had off the tariffs this year or next year and better yet have it rolled back. honestly, the administration went into the trade war which they had the last 15 years precisely because they did not want to rock the boat on the foreign policy front. there was never a good time to take on these practices that have been entrenched in chinese behavior for many years. we knew to cooperation on north korea and iran. we need to cooperation on climate change.
don't push them too hard on the side or the other. the idea is genuine reform can come along with no pain whatsoever is a bit of a fantasy. markets would love it if the president of china and the president of the united states basically signed a deal under which the chinese would buy a trillion dollars worth of natural gas for soybeans and call it a day. but i would not address the genuine problems that got us to this point. >> gray, thank you very much. he was speaking about this china impasse, whatever you want to call it right now. we are learning that robert light has there and steve mnuchin will be happy not to beijing next week. we'll have more after this.
neil: all right from the bloomberg or that the u.s.-china trade talk i said about the year over china. "wall street journal" reporting that there's some in their final stages regardless and that her trade representative robert lighthizer and treasury secretary will be flying off to beijing next week. a permanent import tariff would keep factories here so he wants obviously to keep applying the pressure. a lot of people come back and say that the last thing we want to do. why? >> we cannot have the subsidies with the currency manipulations china uses with import and you reported earlier that china is not about walking back some of its commitments on intellectual property theft, and which it
conducts in a grandiose scale hundreds of billions of dollars from americans. a tariff would take care of that. stop trying to police things that are impossible to police. raise the revenue. just a 15% tariff on chinese imports would yield nearly a trillion dollars over the next 10 years. that is enough to make the middle income taxed on the front tax cut permanent. neil: we pay for about. we pay for that. >> we are paying right now by losing 10% or more of our middle class over the past 20 years. >> something that would be more than allow for average americans going to reduce that burden. >> well again, that middle-class tax cuts were a boom to the middle class in our country and having a tariff on imports to make those tax cuts permanent is
fantastic for the middle class, plus it creates more american manufacturing employment and it creates better american incomes. right now as i've said before, and this imported and off shoring that we've had over the past 20 years has imploded middle-class incomes. when you can access overseas making a few dollars an hour, sometimes less than $10 a day that's terrible for our american workers. neil: i hear you. our trade deficit has ballooned some would argue because they are more than willing. to have you pay for these more expensive imports because things are going so well. >> welcome the tariffs that president trump imposed on aluminum washington machines have yielded over 10,000 jobs in this country, increase profits for manufacturers of those
products can increase investment and employment and we've got an extent not across the board. >> a lover and the chinese, but more than that you would have clear probable signs they were doing what they said they would. >> whatever her trade deal with china in late riser is a brilliant guy. the chinese are worthless and unfortunately they have a history of not living up to their agreements. we need to have a glide path to a zero good trade deficit. right now it is nearly half a trillion dollars to gear. we have to borrow that or sell assets to pay for that every gear. half a trillion dollars with china. that is not except the bull and we have got to take care of that. any deal would make has to have a glide path to take that to zero in 10 years or less their need to be triggers for any or we don't meet the target tariffs are automatically added or increased. again, look at pickup trucks. that is one of the greatest
economic successes in our country. we've had 25% tariff of pickup truck import since the 1960s. look at it, through the top-selling vehicles in our country are pickup trucks. dozens of well-paid american workers with u.s. a nation on plants making pickup trucks. it is a boom for our economy. we need to extend that across the board to all automobiles in manufacturing. neil: that is a risky venture there. i want to get you back to talk about this. always good seeing you. in the meantime here, some interesting developments on facebook. i think they more or less admitted this white house adviser, we did timeline him. hillary von has more. >> face the personally apologizing to social media direct their after the social media company for is a feature but let him comment in reply to
his followers. yesterday calling out facebook for banning him from engaging with his followers on his own face but page sparking concern from conservatives questioning if this was another example of political bias. explaining what it likely happened say in order to stop automated bonsai cat the amount of one account in a short amount of time such as mentioning people. these can have temporarily preventing real people from engaging in such a duty. we've been in touch with them and have apologized for the inconvenience. facebook says they are figuring out ways to better communicate to users who may run into the same exact issue in the future. neil: great reporting. hillary von en masse. when we come back from the controversy over caffeine student loans. the idea behind the administration's move to do so
was maybe double cab tuition and other stuff from going sky high. will it? after this. if ywhen you brush or floss, you don't have to choose between healthy gums and strong teeth. complete protection from parodontax has 8 designed benefits for healthy gums and strong teeth. complete protection from parodontax.
neil: welcome back to "cavuto." and kristina partsinevelos of the new york stock exchange. new standalone companies for fox corporation what we know today as we have a new board member of the fox corporation joining the board one of four new board members. we do know that rupert murdoch son lackland murdoch and the century fox filing of the new company took in $10 billion in revenue in fiscal 2017 as well. 1.5 billion net income.
we'll take over the 21st century fox as a 12:02 a.m. on the morning. back to you. neil: wasting no time. thank you very much. the white house proposing limits on to the loan borrowing. the loans you get for grad school maybe they should cap it. the government should just layout of this altogether. good to have you. the thinking behind it was a few cap, maybe folks if you want to address the issue of the folks at the college need to have skin in the game. you can get an education anywhere with an internet connection. what they're selling is a degree. if not at the same process. there needs to be some degree as
to what someone is paying for that. neil: the administration's approach is maybe you stop this coming out, college loan marathon that is exponentially gotten larger and larger and put a lot of kids in deep debt for which they could never recover. >> absolutely. you need to get the government out of the lending business entirely. you need to get the colleges are some level of skin in the game which means they are making loans to rackley were there some recourse but if i do my part and get the good grades in a degree and i don't get a good job that says that education. i think they also need to change the way they do the lending to any other market. so imagine if you're buying a house or you have a small business there is some level of collateral that you're putting out there. this means the same thing in the college market. you shouldn't get the same amount of money in engineering
or a degree in accounting or finance that she do for underwater basket weaving and gender studies. one will have a different outcome than the other in the loan market needs to be more aligned with that. neil: i'm telling you, if you could make a basket underwater, that alone is an engineering feat. you think it is still a college players marketed not so much those who want to get into a college market has the fact these guys keep rising -- raising the prices. how do you correct back? >> along with all the things i mentioned another thing we need to do a better job in his disclosure. this starts at the high school level with students and parents talking about you're willing to pursue a degree or course of action. this is how much you should make in the maximum you can take on in order to get any sort of return on that investment. the colleges should be making us disclosures. the lender should be making
those disclosures and we need to have better education. the other thing absent from this discussion is not everybody should be going to a four-year college. people should be going into the trades. we need better education at a younger level for them. neil: all i know is my plumber has people when it comes with a s.w.a.t team. he's doing okay. >> getting these people right now. they are dying to get people in there making fantastic salaries. >> germany does not look at the skin of mechanics. there's a lot of truth to what you say. good catching up with you. >> you, too. it's going to be a moment here. the president meeting with his counterpart in brazil. nice enough weather in washington to do it in the rose garden here. after this. everyone's got to listen to mom.
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>> my view is that every vote matters. and the way we can make that happen is that we can have national voting and that means get rid of the electro- college. neil: it's a familiar thing among a lot of democrats. two election they lost on that day one in the popular vote going back to the last election in 2000 with george bush. is there a legal path to do this regardless of your feelings senior judicial analyst andrew napolitano. >> there is a legal path, but it is to amend the con edition and the obstacles are enormous. it would require two thirds vote of each house of congress. not going to happen in the senate. and then three quarters of the state legislators. this is an argument he made
which is to some extent understandably bitter. mrs. clinton won the popular vote and lost the electoral. has donald trump had won the popular vote i don't think -- neil: a lot of them go back to saint now it is an archaic system in a different time. >> you know, it was a compromise intended to put a step between the public and the presidency so that a person could not from a section of the country sweep into the president be without wide spread broad-based support. that translated today the person couldn't blend the presidency by winning new england and new jersey and new york and california. neil: you run up the totals in those days. >> and you would ignore two
thirds of the land mass for the united states. by having the electoral college, everyone who runs for president is required to demonstrate sufficient support in enough of the country so it's a groundswell for them and it's not regional or sectional. neil: you could make the argument that much of the rest of the world scratches its head and wonders how this happened. many have said they are more in line to win the big industrial states that have the electoral vote. that's not been the case. >> that is not the case at all. look, without sounding like a high school social studies teacher, we don't elect -- neil: the rationale behind it is downgraded. that's what everyone seems to be seen on the left of these. >> where you are amiss to pennsbury's dan. because it gives you an
opportunity. and it forces them to spend the money there. >> you ever see it happening? >> i don't see it happening without an enormous groundswell of because of the near unanimity required to amend the constitution. neil: separately report by robert kraft charges have been dropped. what do you make of that? >> this is a procedure called a deferred prosecution. if he accepts this offer will go through a period of probation for six months. at this record is clean in six months the charges against him will be dropped and then he can ask for an expungement and the arrest record will be dropped in at the expungement is granted and there shouldn't be any reason why wouldn't he, bacon -- even though of course he has been. this is in my view a very, very defect or prosecution.
how a judge could send a search warrant to allow photographs of people being massaged and having sex when they are off after the owner of the business is beyond me. neil: judge napolitano, thank you tiered according to "the wall street journal," all charges will be dropped. we will have more after this. metastatic breast cancer is relentless, but i'm relentless too. mbc doesn't take a day off, and neither will i. i treat my mbc with everyday verzenio, the only one of its kind that can be taken every day. verzenio is the only cdk4 & 6 inhibitor approved with hormonal therapy that can be taken every day for post menopausal women with hr+, her2 negative mbc. verzenio plus an ai helped women have significantly more time without disease progression,
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neil: already common to these negotiators have frequent flyer miles piling them up. we are already getting word out of "the wall street journal" that our trade lighthizer and secretary of the united dates will be going to china next week and now we are getting word for "the wall street journal" that china's vice premier is traveling to washington the following week. this is they are trying to cobble a deal together that will include the president of the united faith in xi jinping deleter china signing off on and then presumably the summer. maybe april. now they're putting off in the summer. it's not rattling one way or the other. we might get an update on not been the president of the united states is going to be making some remarks with his counterpart from brazil they are. that is coming up shortly. i had a ball about and the white house rose garden we see them assembling. axis reporter caitlin allen. and the former chief of staff, senator mike lee.
let me get your read on this and the back-and-forth on trade the president that will no doubt talk about progress on the trade front from economic front, even on the pull front where the majority of americans give him credit for the economy and a seven out of 10 of them say he is doing pretty well. what you think. >> that's where he needs to stay in terms of messaging. as in he be talking about john mccain or beto o'rourke or elizabeth warren. neil: why does he do that? >> part of it is the disciplines that they are. part of it is used as a diversionary tact date, but the thing you have to remember is most white house run out of energy before opportunity. this is one of those days as you said he should be spiking the ball thing and 71% of americans feel that the economy is working and moving forward and really driving that message home and
saying this is what winning feels like as opposed to being distracted and really losing the message in the host of things that don't matter to the economy or the american people. >> is not a writer less thing to say you don't speak ill of an american hero. that's very clear. i get it. i get that they'll still get a heated present in all this time later. but you've got a move on. you're the leader of the free world. you're selling the economy and promise on trade and then you do that. >> you think so. president trump holds grudges and it doesn't matter who it is. you know, john mccain goes to criticize drum pretty openly. and also defeated one of the signature legislative effort for the health care act. you know, the circumstance around to it is doesn't matter. neil: it is what it is.
that is a separate issue. i do want to get your take on where this is going. the president will have a compelling case to make it with the markets doing what they're doing, the economy doing what it doing, many are saying it's a pretty good likelihood that he'll have this still going with them in november 2020. i know things can change fast. if he does, then why? >> today can be a big barometer for that. a lot of president trump support historically has, not rural america in the meeting today with the president of brazil mixed questions of national trade and specifically the agricultural trade policy with brazil is a huge thing. the trump trade tariffs, the trump trade war would seem that the manufacturing sector, but the unintended casualty of mouth is the american farmer and rancher. tree into something and dear to a lot of those farmers.
>> absolutely. at the end of last year american farm income was down 15%. soybean prices down 20%. workroom prices had tumbled. i'll solve the producers are looking at losing $377 million nationally. at the same time at the end of the year brazil would celebrate. they were celebrating for the first time. other experts have broken the $100 billion mark. they have been a beneficiary of the trade war. there is the demand from china for soybean that is driven up being prices in brazil. is driven up demand for brazilian beef. what is donald trump going to do today in terms of trade policy to see some of the american wealth he has shifted to brazil's agricultural industry can be felt at home. neil: it is interesting when they refer to sort of peace in much the same populist renegade conservative leader. the fact of the matter is china
is brazil's largest commercial trading partner, and so he has to walk a fine line excepting the president tough stance with china, but not going so far as to alienate china, right? >> that is right. it's a tricky balance which is why most president struggle with the international stuff. it's easy to have that when you're negotiating international deals. that's going to ultimately be the test. i agree it is going to be about those hard-working farmers across the country. if they don't start feeling that, the numbers are just doing a little bit. populist message is easy but it much harder to lead and much harder to govern. look at venezuela is the case study there. neil: anything can happen and i know you've been to the sordid events where they get off message and in this case the president led by getting off message and over the weekend tweeting about everything from
"saturday night live" two acres he likes or doesn't like and i am wondering if that becomes a theme largely because what the president says and steals the thunder. his own thunder. >> it's an understatement to say we don't know what will happen with a price conference. the brazilian president has said some inflammatory things and trump asked his opinion on those different comments, let alone the stuff you've been tweeting about are talking about like john mccain recently. this can go off the rails easily. >> are democrats worried about the economy if people vote on their pocketbook or economic security, and the feeling right now that is a big problem. musings about john mccain or anyone else. in that regard, they're up
against a competitor, right? >> the great strength will be bailed out for the economy or not. if you look at the first 25 months of president trump's administration, it administration, it has slowed down from the last 25 months of president obama's administration in terms of job growth. we are looking at trump budget has proposed a trillion dollars cut to medicare and medicaid. neil: for every key demographic traditionally some of those bearing on improving retail sales. i'm not here to do a left or right on that, but that is something going his way. the performance itself will not do it? >> the economic slowdown will be in the democrats say they are. the we talked about -- >> record low performance, corporate hiring, all that will not move the needle precisely
because it's not as good as the administration is claiming it is. >> at not as good as the admin is ration. neil: i want to thank you for a dream back in dream back and forth. waiting to hear from the president of the united states and how he will respond to what he just said. something tells me they are both watching tv. after this. how do you gauge the greatness of an suv? is it to carry cargo... or to carry on a legacy? its show of strength...
to the-- jair bolonsaro. trump of the tropicses. >> i'm very pleased to welcome president bolsonaro of brazil for his first visit to the white house. president bolsonaro, i want to congratulate you on your tremendous election victory. last october it was an incredible feat. really truly incredible challenge, and the end result was something the whole world was talking about. i also foe that we'll have a fantastic working relationship. we have many views that are similar and we certainly feel very, very true to each other on trade. i think brazil's relationship with the united states because of our friendship is probably better than it has ever been by
far. i also want to congratulate you from your recovery from a truly horrible ordeal. was an incredible recovery and, the people of your country know it. great bravery you have shown, tremendous bravery. for two centuries the american and brazilian people have been united by shared values, including an enduring love of faith, family and country. the united states was the first nation to recognize brazil's independence in 1822 and in the second world war brazil was the only south american country to contribute troops to the allied war effort. today the united states and brazil are the two largest democracies and economies in the western hemisphere. we're in close agreement on the incredible opportunities and continuing challenges facing our region and we have truly
historic chance to restore stronger ties between our two great nations. this afternoon the president and i discussed many of our mutual priorities including venezuela. brazil has been an extraordinary leader supporting the venezuelan's peoples efforts to reclaim their liberty and democracy. brazil helped so much. along with the united states, brazil was one of the first nations to recognize venezuela's legitimate interim president juan guaido. i also want to express our profound gratitude to president bolsonaro and all the brazilian people and their efforts to provide humanitarian aid. we thank you for allowing the united states to station extensive assistance and massive aid on the brazilian border. the brazilian people have been incredible. together we could and, and have
been really very happy to feed thousands and thousands of starving venezuelans. the venezuelan people appreciate the it and if the maduro forces would step aside, it could be a truly great an -- and successful humanitarian project. we call on members of the venezuelan military to end their support for maduro, who is really nothing more than a cuban puppet and finally set their people free. the united states and brazil are also united in support of the long-suffering people of cuba and nicaragua. the twilight hour of socialism has arrived in our hemisphere and hopefully by the way, it is also arrived, that twilight hour, in our great country,
which is doing better than it has ever done economically. the last thing we want in the united states is socialism. so president bolsonaro, i will tell you that we'll be consulting and talking a lot. we'll be working on all of our both problems and assets and we're making tremendous strides. we had a great meeting today. as i told president bolsonaro i also intend to designate brazil as a major non-nato ally or even possibly, if you start thinking about it, maybe a nato allow. i have to talk to a lot of people but maybe a nato ally, which will greatly advance security and cooperation between our countries. our nations are already working together to protect our people from terrorism, transnational crime and drugs and weapon trafficking.
also human trafficking, which is really become something that has come to the forefront of crime. horrible, horrible situation. we look forward to an even deeper partnership and working together. in our meetings we also discussed the strong economic ties between our nations grounded in the principles of fairness and reciprocity, my favorite word, reciprocity. president bolsonaro and i are committed to reducing trade barriers, supporting innovation across a range of industries particularly energy infrastructure, agriculture and technology. the president's vision for freeing the private sector and opening the economy is the right way for brazil to achieve strong economic growth and our great companies are ready to grow when that table is flat and free. to improve our business relationships, we have revived the