tv Your World With Neil Cavuto FOX News March 2, 2018 1:00pm-2:00pm PST
break in. the final bell, off .2 of a. neil cavuto is your man. he's starting on fox news channel right about now. > >> neil: thank you, she said sh. so little time. the big old storm. this the president is not to blame, don't blame the president for the nor'easter. it's a big one and canceling flights and changing american travel plans left and right. first, to the political storm in washington right now over trade. peter? >> imposing tariff's >> neil: , i, neil, is
what the president has been doing since china was dumping steel. now that the president is at the white house, he's tweeting about this. he wrote this morning, we must protect our county and our workers. our steel industry is in bad shape. if you don't have steel, you don't have a country. officials are trying to highlight the president's consistency. >> this is a president who has been talking about this not just since the campaign, but for decades. this is something that shouldn't come as a surprise to anyone. the president is committed to looking out, protecting the american worker. that's what he will do. >> in wisconsin where miller brews their beer and executives from miller are warning against tariffs on steel and aluminum,
republic governor scott walker is saying in a statement that if the president wants to protect jobs, he should reconsider the position on the tariffs, particularly aluminum. this is said by a senator who said that president trump could go down as one of the greatest president's ever. >> i hope the president doesn't really do this. if he does, it's going to be a huge tax on american citizens, and it's going to discombobulate the economy here. >> the president wants fairness, but so does the e.u. they are talking about tariffs of their own, the goal being to rebhanrebalance trade between t. that's the fear with these things, trade wars that they
never end well and they expand the targets. europeans are looking to target agricultural goods, giving to airbus instead of boeing. you know the drill. he keeps track of all of this. that's the fear that this escalates, right, charles? >> that's the fear out the gate. the market was down yesterday and another session, the market reeling from the terrorist curve. he wants to level the playing field from american workers. tariffs simply don't work and could lead to a full blown trade war. you had names like cat biller, boeing using metal and america's biggest exporters seeing shares coming under pressure, saber rattling and warnings, sweden
delaying a $250 million plan to expand a springfield tennessee plant, and toyota motors warning prices will go higher. the european union, $3.5 billion in tariffs on u.s. importants. i should note to you, 1.2% of the total amount we exported to the eu last year. the plan hasn't been rolled out. it could be focused to benefit alcoa which has asked canada to be exempt from the actions. there are others out there saying there is too much fear mongering going on. dan domingo says it's a nonissue. general motors saying we need to better understand the details and support trade policy to win and grow jobs in the united states. >> neil: neil, shares were lowee
broad market has a rebound to the close. there seems to be a general feeling that a tariff action by the administration would be aimed at china well known for dumping cheap industrial metal in the united states and around the world. > >> neil: the threat is the tariffs that never have to come to fruition because countries do other things to prevent it. >> you throw something out that's harsh and get everyone wound up. nafta, final negotiations begin next week. president trump and the administration, they are willing to play hardball. they'll pushback against conservative principles, pushing back against the business folks in their own administration if they think it will support their
own worker. >> neil: it is an upside down world. unions were happy with this. for that angle, phil, the feeling seems to be anything that evens or tries to even the playing field is good, what the president's attempting to do is good. is that it? >> i agree with that. you have to stand up for what's right and see what the consequences will be. in doing this you avert the trade war because you change the feelings of other. s. >> neil: it could turn into a tit for tat thing. >> he's thinking we can change the behavior of others so we
won't be in the situation. as you intimated, see what the details are. i doubt it will be broadly fashioned as they are saying. it will probably be tailored and if that happens, there will be a big sigh of relief. > >> neil: another thing they look at is revisiting all trade agreements. not a fan of nafta. canadians and mexicans are concerned about that. the united states might start backing away for the trade deals, hurting union workers. >> this is who people elected. it's not an orthodox free enterprise free trade republican. this is a fellow who has been saying this for decades.
he's believed this for 30 years. >> neil: i want to determine what the long-term impact could be. i'll begin with you, jonathan. other industries look at the steel industry getting the support from the white house and a me-toism builds up. wall street is the first to complain about that. it's the beneficiary of a bailout after the meltdown. what is your sense of what this could lead to? >> this is setting up that slippery slope, >> neil: neil of more
companies and industries going to the government with their hand out, more cronyism. this is the republican version of cronyism. let's go back to the '70s, maybe television employs would like their jobs protected. the trade war has begun. it's against american citizens who want to -- i don't know, buy something cheaper to save money for their families. no democrat can do the harm to the free economy that donald trump is doing. >> neil: melissa, i'm looking at all of this. markets fear the widespread fear. also, tariffs making it more expensive. i thought it was interesting that the federal reserve expressed concerns about this
but expressed hope that cooler heads prevail. what do you think about that? >> i think it fell on the feds more than the tariff thing. i don't know where we head next week. we have to gear up from the rally today. i want to address joh jonathan's point. we can't survive or exist without the steel industry. we need them. the u.s. is the largest supporter of steel. >> why is that? why can't we exist without foreign steel? >> we are not on a level playing field. >> why is that industry protected? why do they deserve government handouts and cronyism? >> trump is trying to get ahead. he doesn't want to bail them out like we bailed everyone else out.
>> will you answer that question? why can't america live without the domestic steel? >> what if we get into a war with north korea, where are we going to get steel, china? >> neil: that is a national security concern. jonathan, your concern is making one support for the industry, you can make a compelling argument. here's where i differentiate to her point. steel is the bedrock. if everything hits the fan and we don't have enough of it here, we are not going to get it from people that wish us ill. >> we have enough military arm maments to blow up north korea hundreds of times over. that's a red herring not worth
addressing. >> neil: if we needed steel, or we are increasing reliant on those abroad, we would be at a disadvantage, at least in the beginning. >> if we needed steel, we would buy it. >> neil: from who? our enemies? >> you are setting up an impossible situation. >> neil: i remember what it's like after pearl harbor. >> it's a longer discussion. i'll put toward what you are offering as a remedy, central planning, venezuela government picking winners and losers. you can spin a fantty of this breaking out. >> neil: we have done it before where he we had justified reasons in history. the steel industry is back and forth to the white house
numerous times, sometimes getting what they want. sometimes john kennedy not getting what they want. is that a dangerous trend. with that expected, isn't that in and of itself a dangerous trend? >> i don't think so. they need help. steel is worth 5 bucks. it was worth $70 years ago. the companies, we might bail them out. you need the industry in the u.s. >> if need is the only justification for government involvement in the economy, that's it. >> neil: let me switch gears. do you think this has damaging impact on the markets? melissa, see how this proceeds. if it escalates to the trade war, will this hurt the market? global friction, what do you think? >> i think the market is strong.
it will react to certain people talking -- >> but throug not this? >> it did react to this. changing trends in the market, no. >> i don't know if donald trump is going to write a book. look up herbert hoover. he turned what could have been a mild recession into a decade long depression. we are headed to the same road. >> neil: i remember talking to hoover at the time. the market storm to the real one. i mean this is a doozy, another nor'easter. this is sweeping far and wide and for the next few hours is thee story in this neck of the woods. hitting you or not, in your neck of the woods.
there is a dangerous situation going on tonight. some of the coastal areas getting hit hard. this is what they have warned about and it's come to pass. you have some taste of the wind here. the wind is also impacting communities that are inside, away from the waters, including water town, massachusetts. i asked the fire department what happened there. they are looking into what caused that. it's one taste of how powerful the storm has proven to be.
republic pat to too toomey say r republics saying that the they are afraid to take on the nra. you didn't like that, did you? >> well, it didn't help anything. we are going to improve a background check. we are against bump stocks, nra included. most of us on the republican side need to take measures to harden the targets, make schools and school personnel better able to resist a random act of insane violence. we have more in common than divides us. we should work on that. >> the due process thing, taking
your gun first that didn't sit well with many in the rooms, including democrats that thought it was extreme, take guns, due process later? >> i wouldn't have put it that way. there is immediate intervention passed at the state level. things like that are worth considering, and if you know you have made a mistake, in this case there is massive fades. 39 times police are coming to intervene with a particular individual and you have federal tips, that was a huge failure and legislation had nothing to do with it. you have to look at implementation as well. the sense of opportunity is there, congressman, to get meaningful reform done. the president commented to the
party to get more going to crack down on sacred cows. what do you think about that? >> we have the fix mix bill. we can do this one way or the other. they can pass the background check go to conference, work out the conference. that can be done. we have bump stocks made legally administrative action in the obama administration. >> can me make it with the swipe of a pen? he says he's going to issue an order, i think that was the gist of it. >> i believe he can. there are others well informed that think they can take the law either way. there is overwhelming consensus to do it. if we need to do both, that's
fine by me. leader mcconnell had it good last week. let's focus on the things we agree on and get those things done. state governments are free to do a lot themselves. we are seeing that happening in florida and other states as well. it will take a concerted effort. let's start working on things we agree on. we'll get down the road. >> the republican president, gun issue, trade towers many in the party are concerned about. are you worried? >> no. look, this is a president that delivered the largest tax cut in a generation, involved in the largest defense build up since the 1980s, who has done more to deregulate the economy in any president in decades. he's unconventional.
that's one of the reasons he got elected. he's delivered big time for the american people. >> kon congressman, thank you vy much. >> thank you. > >> neil: the reed from a forme r attorney general says this type of stuff has to stop, but will it? after this. are finding themselves morin a chevroletple for the first time.
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>> on the treatment level alone, would you stand for it? >> if president bush made that kind of comment, it would indicate to me that he no longer had pleasure in my service. people in the attorney general like all cabinet members serve at the pleasure of the president. >> neil: just like senator shelby of alabama, if either of the gentlemen were subject to the treatment jeff sessions has
from his boss, they would leave. they wouldn't put up with it. maybe he's not up to the task and the president should fire him. the read on this taken aback by the president's treatment of the attorney general wonder why he doesn't fire him? easier said than done, be careful what you rac wish for. democrats take their sweet time deciding on your replacement, what do you make of that? >> i think it's remarkable that you have a feud that continues on. trump is upset that sessions recused himself. trump said he wants sessions gone at various times. he looks at eric holder who took a lot of blows for obama. he wants a republican eric
holder who is more loyal to him. sessions left a pretty good job in the u.s. senate. sessions indicated, if you want to get rid of me, you have to fire me. >> neil: maybe you can help me on this, he did offer his resignation -- more than once, and the president declined it or wouldn't take it. i'm not sure -- what would be the wisdom of keeping him on if you are going to brow beat the guy tweeting colleagues about him being mr. ma goo. >> then you are rosen stein. it's a complicated process. you have rosenstein there for quite some time. you need the majority. you can't filibuster the appointee. who do you replace sessions with? >> neil: that confirmation prose
woulprocess would be extremely difficult. they didn't want sessions at first. now they want him. >> i think the president is right to say if you knew you had a potential conflict early on, you should have given me a heads up or recuse yourself before i made you the a.g. choice. it is what it is. you can't change history. the latest stuff is other the investigation and specter general are look into this. seems anything jeff sessions does is a mistake. >> they want a special council appointed, and at the same time, they are talking to trump. remember, sessions did not go after lois learner of the irs
scandal. every little bit will upset the president. > >> neil: does it hurt recruitment -- forget about cabinet positions, people look around to say, i don't know. that could be a real meat gripedder. >grinder. >> it's out there. i have talked to those that don't want to work for the administration. on the other hand, it's serving the country. it's a problem but one they can overcome. we have a lot more coming up, including the tariff war the president has ignited now. this could mean any aluminum steel related product could cost you more, even beer. fortunately, the president put the kibosh on that. no, you won't pay more.
>> let's put it into perspective, i just bought a can of soup. it's 99-cents. three cents of steel in the can. if it goes up 25%, it's a tiny fraction of one penny. it's not a noticeable thing. >> neil: two things on that. wilbur ross, genius investor, came from the steel industry. him talking about soup is interesting. him saying he walked into the 7-eleven -- okay, i'm still working with it. now we talk about the aluminum
or steel in said can small fraction of the price of goods in the can of soup. i'm not sure. my next guest has concerns. the beer according to mcgreedy is worried about the developments. doesn't look like he convinced you. >> no, that adds up. that goes to a $347 million tax increase. if $347 million tax increase is a serious concern for us. this is minor under a penny. you say what? >> $347 million is not pennies.
>> neil: maybe they don't have to. the method is scare the countries doing this, dumping steel aluminum products and getting away with it. maybe they would plan to make investments to the united states, and voila, you don't have to impose a tax and this is gone. >> we have to see how the strategy plays out over the next few days. for american beer, 5,000 brewer, medium sized, small brewers, we are concerned with an additional $347 million tax. aluminum is the largest input. this is not a trivial matter for us, for sure. >> i prefer my beer in bottles. this is a moot point you say. >> the product mix changes over
time. 60% of the beer manufactured in the united states come in aluminum cans and bottles. this is very much a big concern for us. longer term, what is your industry going to do if they go full throttle with this in they push the canadians, south koreans, perpetrators of this. what then? we have to watch closely to see what this is about.
>> none of the market or trade bothered me until i saw the secretary of the united states illustrating the soup can to say don't worry. i'm old. maybe it's just me. let's go to the hex teres to see what they think about this. guns as you are known, affecti affectionately referred to, is this freaking you out? >> no, not really.
when it goes down, people can use it as leverage, look what trump's doing. for the average kid, we don't care about the stock market. we care about kiley jenner not going on snap chat or bit coin because that's the rage. for the average kid, it's not even near their radar. >> i care. >> hearing about the soup prices. what did you think of that? the policy is essentially corporate wel welfare, benefitia few people and taxing all of us. i'm not buying a car or a truck because i have to learn to drive first, but i might buy campbell's soup. >> or a beer. >> the campbell soup thing is dumbing it down to an extreme level. you have to think about the jobs
this is what we came to expect with thee president. from a real perspective, he had a good week. then he goes and always does this. he tweets something that doesn't matter. he undermiewnds him. underminds him. >> the tweet takes 30 seconds to post, but i think the president thinks these things are funny, seeing the reaction. >> it would have been funnier if he left it at alex baldwin, like i don't know even know your name. >> aides every morning are probably like, what is he going to tweet now?
on policy, he's had a good week and when he tweets out stuff getting under his skin, i know his die-hard supporters love that. >> the times he's gone after jeff sessions. >> when you hear that kind of stuff, regardless of what you think of jeff session, what do you think of that? >> him ripping him a new one? >> it cheapens his argument, i think, after while. >> he's a 71-year-old grown man. no amount of criticism is going to get him to stop. he's saying 71-year-olds can't change. get off my lawn. the jeff session thing, i feel like he's narrating. alec baldwin has the sunday show this week. he gave his enemy a lot of
publicity. >> maybe it's all by design. maybe he really likes him. >> i have that theory about rosey o'donnell. >> the oscars are this weekend. they are trying to tone down the politics. can they do that? >> not with kimmel. he's going to go after trump. he will throw in an illegal immigration or healthcare joke. what else will he use? >> they want to tone down the me-too movement. if they though out political jokes, then you alienate the people watching. >> maybe they are aware of the glass house because the me-too movement is generated in hollywood. >> one of the producers said they want to make it
entertaining as possible. a lot of people stopped watching because people find them boring. >> they are boring. >> a lot of movies nominated, no one has ever seen. back in the day, prior to the internet, the glamour and glory, you want to see your start. they are in a bubble, finding movies to make. are you going to watch? >> i watch. i enjoy it. almost the monologue. we'll see who doesn't go to talk to them. thank you all very much. i'm betting they have a teeny bit of politics. i think they'll read the riot act. >> a little bit. >> like the metal in a beer and soup can. mountain coffee roasters dark magic told in the time it takes to brew your cup. first, we head to vermont. and go to our coffee shop.
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storms and the nor'easter and the political one and market one. live at 10 a.m. tomorrow through noon to keep on track of all. we have you covered and we will always will. "the five" is now. >> ♪ >> ♪ >> i am dana perino with kimberly guilfoyle, juan williams, and jesse waters and greg gutfeld. it's 5 o'clock in new york city and this is "the five." >> there have been memos and finger pointing and mudslinging. no end near for the russian investigation in congress. time to move on says former secretary of state condoleeza rice. >> i spent time in washington. i know you have a hard job and i appreciate what you are doing for the country, but i hope you can wrap it up. >>