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tv   Your World With Neil Cavuto  FOX News  April 6, 2018 1:00pm-2:00pm PDT

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or dental procedures. both made eliquis right for me. ask your doctor if switching to eliquis is right for you. >> neil: all right, all i can tell you when you look at that number and i know it's numbing down 576 points on the dow it could have been worst. it could have been 200 points worse. it is off our worst levels of the day but it is a down day. it is a down week and all because of increasing trade frictions and a tit-for-tat that has a lot of folks saying we in the chinese have entered into a trade war. the administration isn't saying that china certainly is sounding increasingly like that. and right now, the speculation is that this is going to drag on a while. it's already being felt in the future markets where a lot of this stuff directly affected is already trading. we will get to that in a second. suffice it to say the sell off was widespread.
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virtually every dow component was down and every s&p sector was down. there is more than meets the eye here. there is also an economic report out today that seems to indicate the economy in the latest month was slowing. add it all up, and a federal reserve chairman talking about possibly hiking interest rates in this environment, well, you have got to the hat trick of terror there i'm neil cavuto, this is "your world." we don't know and are not familiar with has a lot of folks wondering just how bad does this get. let's go to fox business network deidre bolton to hash out what did happen today. deidre. >> yeah, neil, this was a crazy selling day. we see the dow losing so many points. we will pull some charts up and show you what fell most, the industrial stocks such as caterpillar and boeing. they are among the dow's hardest hit. both of those companies down 3%. not a surprise when we are talking about trade war
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fears. president trump considering adding tariffs worth $100 billion more on chinese goods. that of course effects sentiment right out of the gate. because those proposed tariffs are in addition to the 50 billion that were announced more than a week ago, obviously now the entire total around 150 billion. china vowing to retaliate saying on friday that the country would not rule out any option. it's possible, of course, that none of these tariffs will be put into place. there is still some time for china and for the u.s. to sit down together, at a table before a may deadline. as we can tell from today's market activity, investors are fearing the worse, which would be an all out trade war between the world's two biggest economies. if you take a look at the dow for the week, that's a little bit of a particular to come -- ticktock. the dow and s&p 5 lurks are down for this year. nasdaq down today. ever so slightly higher for
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the year so far. really hanging on by a thread. we also got march jobs data disappointing to some. fewer jobs added to the u.s. economy than most economists were looking for. that's the screen. although we did keep that .1% unemployment rate which held at its lowest level since the year 2000. but, fed chief jerome powell, you referred to, this neil, he took q and a at the economic club in chicago. he talked about further gradual rate hikes that's going to help the fed meet 2% inflation target. what the market heard is rates are going higher at a time when a trade war is possible. and at a time when fewer jobs are being added to the u.s. economy. now, powell didn't mention trade tensions directly. but he did say that the fed doesn't know how tariffs will affect the economy and given that tariffs are inflationary, they make price goes higher. we all pay the price of them. that just adds one more layer of incertainty to any trader's mind. neil, back to you.
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>> neil: okay. thank you very much. deidre bolton. we should say the chinese have responded as best they could through commerce ministry saying they are ready to strike back forcefully. characterize the president's moves extremely wrong and we'll not exclude any options. neither apparently will the white house in this increasing tit-for-tat to john roberts there john? >> you know, neil, the market was jittery when said china could retaliate against the threat of $100 billion worth of tariffs. but you can put the plunge to the market down almost to the second when the treasury secretary steve mnuchin said on a rival business network that there is the potential for a trade war. right after he said that, we went into a pen and pad session on the record with larry kudlow, the new chief economic advisor. i asked him what about this statement from the treasury secretary that while this is not the intention there is the potential for this to ignite a trade war? he thought about it for a minute and he said well, let
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me answer it this way: any foreign policy could go awry. he also said that the president is not bluffing about this. this is not simply a negotiating tactic that the president will take off the table. today, in a radio interview, president trump said somebody's got to get tough with china over its trade practices. listen here. >> the easiest thing for me to do, would be just to close my eyes and forget it. if i did that, i'm not doing my job. so, i'm not saying there won't be a little pain, but we're going to have a much stronger country when we're finished. that's what i'm all about. we have to do things that other people wouldn't do. so, we may take a hit, and you know what? ultimately we're going to be much stronger for it. >> we may take a hit. you've seen that over successive days here in the stock market where we are down 700 and up 400. and down 500 and back up and you see where we're today. larry kudlow though encouraging everybody just to take a breath here. he says we're at the very
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beginning of a month's long process. we don't know how that's going to play out. he also said there are all kinds of back channel communications going on between the white house and china. listen here. >> there are ongoing talks. there will be back and forth, u.s. beijing and so forth. so i will just leave it there. there is constant communication. this is not about trade wars. it's ongoing discussion. but we will see because, frankly, u.s. government was really quiereal -- quite disappd to china's response to our initial ideas and complaints. we were very disappointed. >> that's the reason why the president came out with that threat of tariffs and another $100 billion worth of chinese goods because the white house was very disappointed that china's reaction to the threatened imposition of tariffs on $60 billion of goods was to first of all respond with $3 billion in retaliatory tariffs. and then the potential for tariffs on another $50 billion worth of goods.
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china, obviously, is at least putting forward the posture that it is in this for a fight. we talked to the press secretary about the potential for a trade war earlier today. listen here. >> look, china created this problem. and the president is trying to put pressure on them to fix it. and to take back some of the terrible actions that they have had over the last several decades. >> is he will to fight a trade war on this? >> we don't want it to come to that. the president wants us to move to a process of fairness, to free and fair and open trade. and that's what is he trying to do. >> jon: still could be months before any tariffs are at imposed if at all. larry kudlow suggesting any negotiations between now and then could lead to a new understanding of a trade relationship between the u.s. and china which would alleviate the imposition of tariffs. kudlow also said that the white house may, and he underscored may give the chinese a list of items that if fulfilled could avoid the imposition of tariffs. the bottom line, neil,
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kudlow says the united states has to stop china from stealing its technology. technology is our future. and we cannot allow the chinese to gobble all of that up. that from larry kudlow this afternoon. >> neil: all right, john roberts. great reporting my friend. this back and forth might seem to you like he started it. if you have kids, it does ring a bell. we have two individuals from washington joining us. republican senator tim scott, republican congressman trey gowdy. both book unified how our unlikely friendship gives us hope for a divided country. i don't know if it has a section on trade wars, gentlemen, but, senator, the division in this country has to do with a lot of folks saying we don't know whether trade battle with the chinese is the right thing to do. how do you feel about what the president is doing? >> well, good to be with you. thank you for help us promote our book "unified." the reality the president is complaining about two
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important issues. one is trade one is theft. on trade we run a trade deficit with china. we believe they have been unfair in their trade practices so the president is looking for ways to address that issue. at the same time, long term ip, intellectual properties. we believe that the chinese are making our companies enter into agreements or into negotiations with their companies that give them access to our iop. that is a problem. that is what we consider theft. so the reality of it long term is the president is trying to tamp down on ip theft. at the same time create an quilequillibrum where the relationship is more resip call on trade. no one wins with a trade war, period. that is something that we all understand. but getting ourselves in a better position with the chinese by mid may is a part of the president's unorthodox approach. >> neil: certainly unorthodox. congressman gowdy i know you will be leaving washington soon, burr the question i have to ask you is this the republican party that has traditionally had a hands
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off approach to interfering in markets and this sort of stuff. now, maybe it's perfectly warranted to the senator's point that the chinese do cheat. they do rig their markets, currently is i, et cetera. the president is responding to that. but you seen what has been happening in the markets. you seen what is happening in the commodity markets where they trade s soybeans and corn and wheat and cotton. all that stuff directly affected. they are getting pummeled by all of this. are you worried? >> well, i'm worried on two fronts. your question had the premise is there had been a revolution in the republican party. when tim and i came as freshman in 2010. the very first briefing we had was the importance of passing trade agreements. president trump was really clear when he ran. it was a more populist, more of a protectionist platform. and that may be why he won. so,. >> neil: you agree, ti? >> i'm a fair trader.
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i'm from a district we lost to textile industry because of unfair competition. the state i now live, in south carolina exports dream liners. we export bmws. you mentioned caterpillar that's a really important company in our state and in my district. we are exporters. we are weary of trade wars. i applaud the president for standing up for our manufacturers, but no one wins in a trade war and i hope all of this is just posturing for some more fairness from our trading partners. >> neil: you know, i know senator and congressman in this book you talk about, you know, how to govern in a divided country but the division seems to be even within your own party, as i have said at the outset. and, senator, i will ask you what i kind of touched on with the congressman this view. operations there chief among them whip sawed by. this prime for the picking
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by the chinese. they are worried enough to say it out loud mr. president, be careful. do you think he should be careful. >> certainly we have to be very careful with the strategies that the president is using. my office met this morning with some of the major manufacturers in south carolina. frankly, a quarter of all the bmws that go to china come from south carolina. the largest exporter in the world in our country is boeing in south carolina. so, this has a major impact on our state but the goal that the president has is to improve our competitive position long term with china and it's going to take some serious action. i do not believe that we are actually going to head to a trade war. i do believe that the president's posture, though unorthodox has been effective with smaller countries. the question that we have to ask ourselves today is will it work with the second largest economy in the world? you have heard our colleagues from senator sasse, senator roberts from kansas, big agricultural state coming out confidently
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about the negative position taken by the administration. i think it is yet to be determined what the actual ramifications of this trade negotiation is because it is not a trade war. >> neil: okay. let's hope you are right on that. congressman, in this book and i know you talk about fast friends and coming together at the same time. you are one of the view ohio know can call that guy next to you time, whic timmie. >> only one. my momma. >> neil: do you get a sense congressman though that even among republicans it's tough, that camaraderie even in party and don't even get to the other party. do you ever see just gentlemanly goodwill returning because it doesn't seem to be the case. >> well, privately there is goodwill. but you know while you and timmie, senator scott were having that conversation, i thought that pat buchanan has been a protectionist since i was a kid. jim demint who is a friend of both of ours was a tree
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trader. in fact it got him in trouble with mr. milligan because he was a free trader. our party has always had room for divergent views on important issues like trade. what has changed in the seven years i have been there is the ability to monetize or commercialize conservatism and this notion that 99 is a failing grade. senator scott and i disagree on issues and i'm his biggest fan. i don't require him to be perfect on everything. when you monetize conservatism. you will find those one or two issues where you disagree and you are going to expand them and demagogue them. that's what i have noticed has changed in seven years. >> neil: all right. we will see where it goes. because like i said, the appetite for this sort of thing, there is a thirst for people just getting back and talking to each other, even within their respective party. we will see where it goes. unified. friendship gives us hope for a dividing country. on a divided confusing day in the market. gentlemen, welcome to both of you.
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>> absolutely. >> neil: that would be you trey and timmie. tim jot scott. the dow down 572.5 points. it was a lot worse. there was going. and it could -- could help. we'll show you. hi, i'm kathy ware. and i'm terry ware. and this is our sears hometown store. we always wanted to raise our family in a small tight-knit hometown community. when the opportunity to own a sears hometown store became available we jumped at it. and ever since, we've been a family owned business.
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fungal infections are common, and if you've had tb, hepatitis b, are prone to infections, or have flu-like symptoms or sores. don't start humira if you have an infection. want more proof? ask your rheumatologist about humira. what's your body of proof? >> neil: all right. going into the weekend on a selloff. good thing we are eastern time to try to crunch all of this with the cavuto live version that tries to assess what's happening between main street and wall street. let's get ned ryan. doug and our own litaniy mcdonald. is it your sense this is getting to be a worry that this trade thing that was thought to have the chinese maybe blinking while they are still enraging. still talking about not being part of the talks, et cetera. >> right. no, i think we're actually at the beginning of this. i think we are at the beginning of this entire
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engagement, neil, i think we are not in a trade war. i think this whole back and forth with steel tariffs, so soybean tariffs, this is really about a much larger struggle. people need to understanding this is not about a trade war. this is about a struggle who will control the very critical technology in the future. neil, i think it is a discussion about who we will be as a country in the future. are we going to be completely free and prosperous country or are we going to go down that path of becoming a contribute tear state. china declared economic warfare against us at least a decade ago with their forced technology. their theft of at least 3.5 trillion. >> neil: you are right on a lot of that doug, do you worry this is the way to go about addressing it. >> i think the real question is not whether or not we have identified the right culprit. china is the culprit. the question is this the best strategy? eneand i think what's missing people on capitol hill, will the average person in washington some sends of a timetable
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and game plan and basically road marks for progress in the negotiation tariffs are the club to get them to negotiate, what are we asking for? when do we expect to get it. how do we identify success? so far there is nothing. >> neil: the president couple. [talking at the same time] >> neil: the president did couple of goals shrink, half a trillion now. ihas also talked about giving american financial firms more access to china. i don't know how we would quantify that. but, your thoughts on what else has to be done? >> well, yeah, that's a good point. i mean, by the way the premier of china has already said that he wants to avert a trade war. he does not want a trade war. is he saying essentially we could open up our markets, give greater access and stop the, you know, requirement of intellectual property. that has been in violation of wto trade rules since
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china entered it in 2001. the thing is that china is in it for the long game, neil. xi jinping is effectively going to be ruler for life. the president is going to lead the country until 2020 unless he gets reelected. the thing with china is, we have seen the studies, we know, this the trump base in, you know, about 2800 counties. where 2 million jobs could be at risk. 8 out of 10 of those counties voted for trump. we saw this play out before, neil, in 2003 when george w. bush wanted to tax steel out of the eu. what did they do? they went after oranges in florida. that was right after the election of the hanging chad fight in 2,000. >> neil: it didn't do any good. i apologize for the breaking news. we are trying to follow the other angle on this story about the federal reserve monitoring this and of course jerome powell saying that noise isn't helping things when it comes to ceos
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and the like to worry about a trade war. the dow down about 572 and a half points today. the read from zuckerberg. trade is to major league tips next week when he is on capitol hill after this. your brain changes as you get older. but prevagen helps your brain with an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember.
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so he is well-schooled on all the principles here. what does he have to do, mark, because a lot of people are blaming him for pretty much anything and everything that's happened to that company. and more to the point, since he has allowed himself to be open to regulation. a lot of his competitors and colleagues are worried that we're going to go down a slippery slope what do you think? >> i think take a look at what sheryl sandberg did in her interview just an hour ago here basically she said i'm sorry, i'm sorry, i'm sorry. clearly that's what he is going to say, we're on it, we're on it, we're on it. is then what she said. she said she is going to make sure that people with political ads identify themselves. as we know in the political world that's a basic. and she said that she was adding another 10,000 people basically internet police to bring that to a total of 20,000. i think shareholders will be a little stunned by the number of physical people as opposed to ai that really have to go through the
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internet to keep it safe. those are the three things that she answered that can you expect mr. zuckerberg to also answer. and it was also intrigued by the things she didn't answer. >> neil: well, i want to get into that. i do want to get a better point here when it comes to technology giants. i have covered many over the decades with the possible exception of steve jobs, also brilliant, but they -- very high iqs. they are geniuses. not great on the eq front. not great on the common sense or how to deal with the moment. not great at marketing. they don't have to be. they have people who are. but that can get in their way. i bill gates would get grilled or banking executives or energy executives when they get grilled or brought before congress. and zuckerberg is going to be facing that. how does he deal with that? >> well, many years ago i prepared bill gates for along with others for a very similar grilling. look, i think it's a learning experience for silicon valley when the
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government gets involved with them. these are experiences they are typically not prepared for. bill gates today, you could ask him about any issue. he is incredibly well-schooled. you will see the same process. zuckerberg is a very smart guy. he has been cloistered frankly, out in silicon valley in facebook. he has a lot to overcome in terms of being someone who can relate to his customers. i think that's going to be a key thing that they work on. but i have extreme confidence two or three years from now you will see just like a bill gates, really polished zuckerberg from this experience. but i'm not so sure what you're going to see come next week. >> neil: i hear you. quick take on markets and fears of trade wars. can i remember bill clinton exasperated dealing with the chinese acknowledging as much that they had a rigged system there, trying to get to the bottom of it in a
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nice diplomatic way. his successor george bush, his successor barack obama. donald trump is right this has been a an aged old problem is this the best way to correct it. >> microtrends squared and harvard poll did last week people think the chinese are taking advantage of us but they are afraid to take the steps you have to take in a negotiation. i have seen this time and time again. you don't get anywhere in a negotiation unless you create fear. we didn't get anywhere with north korea. the european financial crisis was a fright and fright and fright until had you a settlement. that is the way it goes. can these markets understanding that process? look, google, how much business is google doing in china? nothing. and they go down 2%. >> neil: yeah, well, don't get into the madness or the rationale of those markets. mark penn, micro trends squared latest book here. run away best seller. very good book. mark, thank you very much. >> thank you. >> neil: i want you to look at something buffeted by
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what's going on right now with this back and forth trade war. these very cute little pigs. but hear the story the pig went to the market and nobody noe one had an idea how to price them after this.
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because the folks who own them, the failurers who own them are already feeling it pork future variety of other things that trade are down. thank you, those farmers are
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>> neil: a lot of people say what the heck is going on in the white house here. a lot of people in the white house kick in, 60 at as, 180 days after that for some. no need to worry. unfortunately what they lead let they can trade on the future mark. anything from soybeans and corn and wheat and cotton and, yeah. pork. pork bellies, pork anything. pigs are tradeable asset and pigs are in the line of fire here. fox business network had a pig farm n. with more. hey, jeff. >> these are just about ready to go to market, neil. you talk about the future. not only just the future, but you know they already have a china imposed tariff on these pigs up 25%. that was in retaliation for the steel and aluminum tariffs from the president. so they are already getting it and take a look, just before we talk to a hog
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farmer to give you the real deal on this. take a look at the price of lean hogs at the cme, the chicago america tile exchange in chicago. they have lost a third of their value since this started. rick, have you raised pigs your whole life. >> we have and it's significant. we are concerned about potential that the tariffs can have. we're hopeful that clearer minds will work this out and we will get some relief from the tariffs. >> the president said and peter navarro, his trade council guy said today the president has a plan to make it okay for the farmers. >> yep. >> do you have any idea what that plan is. >> i have no idea what that plan is. i'm hoping that the tariffs go away. that would be. >> that's the only way can you see it obviously there might be further retaliation were to compensate farmers
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in some way that would cost as well. you talk about upheaval in the markets. this is what the illinois farm bureau had to say about that. guy from the farm bureau said i think the market is sending a very important signal that can't be ignored. if this continues, be very careful. because there is going to be economic upheaval. in the future markets there is already economic upheaval. perhaps on wall street as well. and, you know, the pork industry is response sick for half a million jobs in the u.s. the president wants to create jobs. but, keep in mind, if you create jobs in one place and you have to subtract them in another place, that may not make the most sense, at least that's the way the folks here in pork country feel. neil? >> neil: that is brilliantly explained. thank you my friend and to your farmer as well. iowa republican congressman steve king on the phone right now. he echoed some of those concerns. your worry is this is exactly what happens, it just accelerates, right? >> yeah. i have described it this
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way. -- still alive and writing a novel about the beginnings of a trade war, we would be in about chapter 2 right now how you get accelerated into a trade war. i know that donald trump has some pretty bold and confident moves and i believe that they anticipated the retaliation on the part of the chinese. but, his next move is, i'm going to be very interested in. i would like to find a way to dial this thing pack. one the things i would do is i would just simply take the stud i don't know the intellectual property by the chinese, put a duty on all products coming from china to recover the incident electric actual property value to the property owners and say to the chinese let's back off of this trade war and settle for ending your prior ipiracy and letting you py for what you steal. >> neil: good luck on that. they are not going to take this lying down. they are infuriated by the president's pile on today and threatened to walk out of the talks.
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where do you see this going? >> well, it is very tough to say. this can be escalated higher and higher. and president trump said he has another $100 billion he wanted to add on for tariffs. really in the end, describe it this way, china needs this robust market to keep their economy going. they are depend dent on the united states consumer economy. we need our exports to china for some components of our economy, and we need the products coming out of china. in the end, which side is stronger? who gets hurt the most? this is a political fight now. >> neil: yeah. >> in the political fight there has to be the pain has to get greater on one side than the other before anybody backs down. i'm worried about where this goes because it sure looks to me like the beginnings of a trade war. >> neil: we took a look, sir, as you know and talking to the pig farmer where his prices have been collapsing, soybean, cotton, wheat, some of these other agricultural items that trade in the future market whose prices
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have gone down. now a lot of american consumers can look at that and say great, my bacon is going to go down and be cheaper. buy corn, buy anything wheat, bread related that will go down. i'm okay with that. so how do you answer that? >> well, that only lasts for a while. and we saw what happened to the economy here in the united states when jimmy carter on january 4th, 1980, embargoed the grain that was exported to then the soviet union. and when that happened, it put us into an economic tail spin for an entire decade. and a lot of us here in the midwest, i mean, i have many scars from that. i paid 22% interest. we sold out family farm after family farm. they stood there and cried together during the auction. and i don't want to see that again, neil. i'm afraid we're going in that direction. kneel theology it took a decade to recover from that right. >> we didn't actually recover. those kids standing there and watching the farm be
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sold at the auction got a degree and moved out of the neighborhood and didn't come back. >> neil: did not reenter the field the family business. thank you, congressman. very, very much. >> thanks, neil. >> neil: the president has been busy on addressing international concerns and on russia as well. those given the collusion charges he would be leary going after vladimir putin. please explain to us then how it is seven russian oligarchs are being targeted and 17 other top russian officials. that doesn't sound like someone beholden to the russians after this. soil is amazing. so we give farmers like win more plants. to grow more delicious coffee. which helps provide for win's family. all, for a smoother tasting cup of coffee. green mountain coffee roasters.
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receiving strong chemotherapy. do not take neulasta if you're allergic to neulasta or neupogen (filgrastim). ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries, and capillary leak syndrome have occurred. report abdominal or shoulder tip pain, trouble breathing or allergic reactions to your doctor right away. in patients with sickle cell disorders, serious, sometimes fatal crises can occur. the most common side effect is bone and muscle ache. so why go back there? if you'd rather be home, ask your doctor about neulasta onpro. >> neil: all right. just consider these numbers, seven russian oligarchs, those are big, you know, usually billionaire businessmen, including by the way the son of vladimir putin and 17 other high ranking officials targeted on our part for new sanctions. so, regardless of what you make of it, the individual charges here, this is coming from a president who might
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be kowtowing or pulling punches when it comes to collusion stuff unending drama on capitol hill for a year and a half now. silly way of showing it. it's a big deal as soon as it, claudia? >> yeah, it is. although just one move in a far, far bigger global great game. >> neil: so what is going on here? what are we charging these individuals and firms with? >> okay. let's separate washington politics, the russia probe from actual geo politics, the real russia problem, which is the threat as federal officials told reporters about these sanctions. russia's malign activities worldwide. and these target a whole array of these things their interference in american politics. their interference ---mile-an-hour military interventions in syria, think are behind assad's use of chemical
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weapons. they support him. the annexation of crimea from ukraine. the military aggression against ukraine. there is just a whole array of these things, including, neil, the actual treasury press release which includes a description of one of these oligarchs smuggling hundreds of millions of euros into france in cash, in suitcases. the thing is like a thriller. but, that is the broad scene that they are addressing here. >> neil: the president earlier talked about a separate venue maybe inviting vladimir putin to the white house, given these latest developments, how likely is that chat? >> you know, neil, i still wouldn't rule it out. just because they can talk to each other, this is a game that's going on at many levels. at the same time, i wouldn't recommend it unless president trump has some very particular mission in mind for such chat. >> neil: do you know -- i'm
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sorry, claudia, do you know where this is going to wyden behind the 24 individuals or firms that have already been cited? >> as far as sanctions can do anything, neil, it should. because this is just the tip of the great russian iceberg. some of it is pretty spectacular. it includes things like minister of interior and head of counter extremism. it includes these high ranking members of the government. a deputy governor of the central bank, things like that. at the same time, russia is basically an enormous criminal state run by a kgb trained dictator. and it's interesting. 27 years ago, the soviet union collapsed. these days, russia is involved in basically every troubled spot on the planet. we have to deal with the them on the iran nuclear deal. on north korea, on syria. and that is the scope of this. and what's it all funded by russia's natural resources. the russian economy has come back as some sort of
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manufacturing power house u it's the same thing that sustained out soviet union through more than 70 years of communism. and this is trying to stifle some of the wealth that flows from that and. >> neil: amazing. >> that's an enormous project. neil, sanctions are not going to solve this for us. it's fine if the u.s. wants to impose them and it's a useful map to some of the problems. the map should be showing us much bigger terrain. >> neil: thank you very much very, very much. >> good to see you, neil. >> neil: ever wonder intlu a week like this in the market, a day like this in the market? how does it effect you? how does it effect young investors? it is fair to say that my favorite jen is mentioned. millennials don't know what to do. they are apoplectic and they are here.
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>> neil: there is nothing better than young people ticked off. i'm not saying they are ticked off at the united states. ticked off a lot poorer after today and a rocky week from our highs if you think about it a few weeks ago. a lot of it on ongoing trade war. let's speak with our guest. author and entrepreneur michael and the "wall street journal's" jillian. jillian, do you worry when you see something like this that you can't get ahead? >> it's not great. i do think millennials are used to market volatility. maybe more so than other generations. >> neil: i thought you stayed out of the markets. >> most of us do. a lot of us are in crypto currency. it seems to be where my friends are investing. they are freaked out by it. >> neil: i thought they were in bars. >> yeah that too.
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long-term effects on the economy and limit opportunities and for poor millennials, it's going to make consumer goods a lot more expensive. >> i don't think anybody, it's not even on their peripheral. until it physically hurts them, it's not going to effect them day to day. >> neil: what do you think about what president trump is saying whatever you might think of my approach, the chinese haven't taken us to have been taken us to the cleaners for decades. i'm going to be different. >> people care more about what's going on with their own pocketbooks. people care more about -- >> neil: longer term he is saying this will be better for pocketbook. >> people don't think long term. people say it used to cost this much. now it costs this much. it's bad news and i don't like it? >> i think a lot of millennials don't see this happening right now. we talked a lot about this pending potential trade war. you are not seeing millennials get involved and really talk about this. >> neil: what about tit-for-tat, if someone is cheating you out of something. what do you think going right back at them fight fire with fire. >> something has to be done, that's for sure.
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>> neil: do you agree with what the trump administration is trying to do. >> this is shooting yourself in the foot to be honest. i think millennials are inflated in a way that i think trump voters aren't. we aren't super exposed to the market. >> neil: super exposed to those soybeans and corn and wheat and bacon prices? >> i do think this is going to hit attacks on the american consumer. >> i also think it's being painted a certain way to millennials how they disseminate and get their news from that they may not be listening to trump directly through -- >> neil: see the dow down. >> i don't think millennials are looking at. >> neil: don't see i heard mom and dad are freaking out about this. >> no. i think they are very more affixed on the. >> neil: drunk? >> yeah, i'm drunk. >> neil: we livwe live in a age where people are freaked out. >> neil: never seen you freaked out. >> try remain cool calm and collected because we're on tv. the second i walk out there.
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>> the point is we live in this era where everything is breaking news and everything is bad and happening in realtime. the younger you are, the more connected you are, the more you see that something like that yeah, we see it and we don't like it. >> you do get desensitized to it. >> neil: how do you feel just speaking generically the president is handling this? a lot of people are saying oh you are starting a trade war and all of that, not realizing a lot of times it's news to a lot of people, of all ages. the chinese have been rigging the system, whether this is the way to go about it. >> is that news? >> neil: by the way i'm asking the questions. is it news to you that they have been rigging this thing. >> no. >> neil: so what do you think of the president doing this? >> i think that tariffs are taxes. i'm not a fan of a new tax on a consumer. it's we're going to have to pay for it. so i'm definitely not fan of it. >> neil: what if it gets the chinese to come to the table and stop cheating. >> i don't think they will. it's escalating. that's not what's happened. they have been hitting us back. it's not going to work. prices are going to keep getting higher and market going down. >> nothing has been
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implemented. >> neil: understood. >> hopefully things will settle down. kneel nile you don't have to wait for tariffs to seat effect on the market or to see it in future trading. >> i think once it hits the pocketbook, it starts -- you know, our subscriptions, whatever we buy, the stuff. >> neil: let me switch around around ask you more general. you can't even afford that but let me get your take, guys, on the president. because roseanne, you know, modern show now out is off the charts, ratings. and it's known for taking a different view of the president. a favorable view of the president. and it's on fire. what do you guys think of that. >> i think it spotlights the kind of tension that we see in households across america. that is why people are watching it. even though we might be in the same family with someone. these days we are more divided than ever. i think that show gives us some sort of, i don't know, makes us feel like we are not so strange we are at
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odds. >> generally funny. i love it i haven't missed an episode. i'm not afraid to admit that. >> neil: do you think it's telling show producers go ahead and risk going there, saying something nice about donald trump. >> it's a huge market untapped. hollywood has flelted middle america, knelted political conservatives. in doing so, i think it's turned away their money. this is showing they can make money off it. >> it has two things going for it audience 20 or 30 years ago. now going back it is going after underdog audience. >> neil: more support or favorable views towards the president. >> 50% of america that are not being tapped. >> neil: should other shows follow up on it? >> they should realize they shouldn't be as polarizing in their views and disregard -- >> yeah. >> this hollywood bubble where they only hang out with people who don't support trump. they think that nobody in the world -- >> neil: you want to just have good laugh. >> authenticity matters. more americans want that. we see that with roseanne and more people are watching.
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>> neil: fair enough. we will be exploring this phenomenon with the president and everything else. and whether he is leading us to a trade war or something very favorable 10:00 a.m. tomorrow to noon on fox news. we will see you then. the five is next. insurance doesn't have that.yr what?! you can leave worry behind when liberty stands with you™. liberty mutual insurance. (birds tweeting) this is not a cloud. this is a tomato tracked from farm to table on a blockchain, helping keep shoppers safe. this is a financial transaction secure from hacks and threats others can't see. this is a skyscraper whose elevators use iot data and ai to help thousands get to work safely and efficiently. this is not the cloud you know. this is the ibm cloud. the ibm cloud is the cloud for smarter business. ♪ ♪ are finding themselves morin a chevroletple for the first time.
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zuckerberg. >> i am kimberly guilfoyle. it's 5 o'clock in new york city and this is "the five." >> ♪ >> ♪ >> it's been the burning question. will president trump attend the white house correspondence dinner at the end of the month? he didn't go last year because of his feud with the press. >> i did the grid iron dinner a few weeks ago. that was terrific. we had fun and it was good. i feel that the press is so bad and so

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