tv MSNBC Live With Velshi and Ruhle MSNBC June 11, 2018 8:00am-9:00am PDT
have been burnt down. this is just made of water and light. a symbol that cannot be burned or ruined. t love to hear your thoughts on facebook, twitter, snapchat and insta. i'll see you on "nightly news" later on, as well as for more coverage on the summit in singapore. roughly nine, ten hours away. i'll turn it over to my colleagues ali velshi and stephanie ruhle, home in new york. >> going to be a long day and night for you. hope you get a little sleep in between. >> we're ready. >> lots to watch there. thank you so much. hallie jackson for us in singapore. good morning. i'm ali velshi. >> i'm stephanie ruhle. it is monday, june 11th. let's get a little smarter. >> this is the north korean leader here in singapore right now, making his way back down the street. this is a live shot that we have coming in. again, i know it's dark, but you can see the flashbulbs going off here. kim left his hotel about an hour ago, roughly. got in his motorcade. look at all the bodyguards.
>> very interesting meeting tomorrow. >> complete, verifiable, irreversible denuclearization of the korean peninsula is the only outcome the united states will accept. sanctions will remain until north korea verifiably and completely removes the programs. if diplomacy doesn't move in the right direction, and we're hopeful it will do so, the measures will increase. we're going to ensure that we set up a system, sufficiently robust, that we're able to verify the outcomes. it is only once the "v" happens that we'll proceedhe pace. that's what's been missed before. president trump recognizes chairman kim's desire for security and is prepared to assure a north korea, free of weapons of mass destruction, is also a secure north korea. the president has also expressed his openness to expanding access to foreign investment and other economic opportunities for north korea if they take the right
steps. there are only two people that can make decisions of this magnitude. those two people are going to be sitting in a room together tomorrow. >> how long will it take? i think within the first minute, i'll know. >> how? >> just my touch, my feel. that's what i do. >> it concerns me. you know, as a former diplomat, you have to be totally prepared. you have to know the issues. you have to listen to your secretary of state, your adviser. the presidesse to do that a lot. >> he arrived here in singapore looking to make a friend out of one of america's long-time foes. but at odds with some of the u.s.'s traditional allies. lashing out in personal terms against the canadian prime minister, justin trudeau. >> canadians, we're polite, reasonable, but we also will not be pushed around. >> he really kind of stabbed us in the back. potus is not going to let a canadian prime minister push him around, push him, potus, around,
president trump, on the eve of this. he is not going to permit any show of weakness on the trip to negotiate with north korea. >> there's a special place in hell for any foreign leader that engages in bad faith diplomacy with president donald j. trump, and then tries to stab him in the back on the way out the door. >> this was the worst foreign policy outing that trump has had since he became president. >> i'm confident that relationships between our countries, the united states and those g7 countries, will continue to move forward on a strong basis. >> we're just under ten hours away from the historic meeting between president trump and north korea's kim jong-un. despite the fact that it is approaching midnight there, kim jong-un is out sightseeing in parts of the city. we saw him walking with a large entourage, snapping a selfie with singapore's foreign minister ahead of the
consequential face-to-face set f for 9:00 p.m. tonight eastern time. >> secretary of state pompeo asserted the need for complete, verifiable, irreversible denuclearization, and would not say definitively, when asked if u.s. troops leaving south korea, was part of the negotiations. >> i am not going to get into the details of the discussions we've had today. i can only say this, we're prepared to take what will be secured assurances that are different, unique, than have been provided -- that america has been willing to provide previously. we think this is both necessary and appropriate. >> as trump prepares to sit down with kim jong-un, let's look at what he'll be facing to denuclearization north korea. the extent of the north's stockpile is unknown. by an analysis, it puts the number of warheads at potentially upward of 60 bombs. the bombs are a seriouskorea's
latest advances in rocket technology. the latest missile is believed to put washington, d.c. within range. any denuclearization plan could take up to 15 years to complete, according to experts at stanford university. there are, again, the north's human rights violations, documented in a 400-page u.n. report. 120,000 people are being held in the four known political krpris camps, according to amnesty international. this is something the president says he won't raise. former detainees in the camp say they were stripped of all sense of being human. there's no thinking, no free will, just fear. you are like animals, said one man held when he was 16 years old. detainees caught rats to eat and were beaten by guards if caught with contraband cigarettes. some dying from the beatings. starvation isn't just an issue
inside concentration camps. the regime uses starvation as a means of control, distributing food to those considered useful to the government. a famine in the '90s killed 1 million people. people are in a class system. loyal, wavering or hostile, and movements are restricted, surveilled and regulated. even torturing those deemed lacking in proper loyalty. when you watch kim jong-un walking around singapore very, very normally, keep in mind, this is the character who we're dealing with right now. this is the character who this summit alone has, to some degree, legitimized. he's had meetings with the chinese. he's had meetings with the russians, sergey lavrov the other day. he's now meeting with president bashar al assad, which is really weird. these arewo world leaders accused of human rights violations, who are legitimizing each other. >> there's been criticism that,
how could president trump not raise this with kim jong-un when he sits down, but you sort of have to pick your battles. the battle the president could be focused on, he could be saying, guess what, denuclearization is more important. we'll lead with that. we cannot forget who this man is. >> right. >> by elevating him on the world stage, giving him this type of attention, this has been a dream for generations, for a north korean leader to sit shoulder to shoulder with the leader of the free world. >> joining us is nbc news chief global correspondent bill neely, and mr. park, the leader of the working group. we just saw kim jong-un sightseeing, strolling around. with what, if any, is the significance of kim jong-un even being away from pyongyang, north korea. >> reporter: absolutely extraordinary images. few things strike me. number one, we hardly ever see images of kim jong-un in real time. even when he went to china, we
only knew about it when he came back. then the images were released. all the images of him usually are by state media, carefully controlled, even altered to give his people the image of this all powerful dictator. the first break in that was the summit with south korea a couple months ago. tonight, we see another break. nobody expected him to leave the hotel. an extraordinary image. you know, whatever you think of kim, seeing a selfie of kim jong-un, taken by south korea's foreign minister, seeing him surrounded by bodyguards, going up to the 57th floor, i should say, of a luxury hotel here, looking out over singapore, really quite extraordinary. you know, singapore is exactly the kind of place kim jong-un would like to turn pyongyang into. i've been there four times. we're always being shown, you
know, new housing development, a skyscraper, a dolphinarium. small steps by north korean standards, improoverished state. this is what kim jong-un would like his country to be. he is only 34. y been outsi the cotrto china and across the dmz by, you know, a few yards. this is also an opportunity for him, quite frankly, not only to do some sightseeing, but also, he has grabbed the limelight. this is another way, if you like, that kim can burnish his image. change the perception of the world from you're a pariah, a nuclear dictator, you're aess to the world, to this guy -- we saw the pictures. he's smiling all the time. just as he was with president moon during their summit. >> right. >> that worked with the south koreans after that summit. they said, oh, what a lovely guy. we trust him. 75% of the people polled said they trusted kimjong-un.
>> wow. >> this is all part of the charm offensive. >> we need to remember, all of the north koreans who are not getting to see kim jong-un because they're in prison camps. he's starving them. do you remember, the north korean official that ran across the border and was spitaliz, the soldier? they found worms in him. >> malnutrition, not enough calories. this guy is in the army. john, there is a contrast here. kim jong-un snapping pictures, walking around. president trump, by the way, feuding with our closest allies. >> democratic allies. >> that's got to be something the north koreans and even the chinese, who are really important to this conversation, are going to benefit from. >> reporter: one thing, we have to take into context the idea that time has passed. clearly, this is something that on the flight over to singapore, this was a source of a lot of anger from the u.s. side. now, the preparations for this summit. this is the summit that has been
in the works for months now. most importantly, we're seeing on both sides, the u.s. and north korean sides, very comprehensive leadership groups. this isn't just simply the idea of single leaders showing up. rather, their entourage. this is what we're seeing in a lot of detail. the teeing up for the g, where we're basically anticipating this idea of a joint statement, and from that, the official opening of what is being framed as a denuclearization mechanism. pcess to deal with these contentious, complex issues, in the weeks, months, and years ahead. >> even sitting down for the summit, we articulated it is a win for kim jong-un, that he is there. it is also a win for the president and mike pompeo, saying, we're getting this meeting. the one white house meeting that president obama had with donald trump after he won was, north korea is a big issue. the fact that trump is just having this meeting, and tomorrow, there will be a coordinated headline wrapped in
a big red bow before they leave, just 11 hours from now. will president trump and kim jong-un get to check this off as a win, even if once you dig into it, there's nothing under the hood? >> reporter: stephie, th thing about this meeting is that these two leaders will be assessing themselves. in the sense of, the grade they give to themselves is a very subjective one. with that, the idea of a goal, in terms of laying up for the next step. we're basically seeing this idea of an incremental approach. the key thing to remember though, a lot of the capitals in the region are focused on the singapore summit because they can only move full force in their respective mechanisms, economic development, peace, so forth, if this launch of the denuclearization mechanism happens. from that perspective, there is a linkage. ultimately, it is subjective, in terms of how the leaders assess themselves. so far, it looks like it is going to be a very high grade.
>> bill, former u.s. ambassador to russia wrote that this summit is a tremendous achievement for north korea. the point he makes is that -- this was a tweet -- tomorrow, the entire world will be treating kim jong-un as a global leader on stage with the leader of the most powerful country in the world. human rights, assassinations, et cetera, will unlikely be mentioned. this is a tremendous achievement for north korean plodiplomacy. do you share that view? has kim jong-un been elevated to a status of world leader, as opposed to world pariah, as a result of this meeting? >> reporter: i think, ali, he's not only out of his hotel, he is out of international isolation. in that sense, it is already a win for him. he's met president xi of china, president moon, now singapore's prime minister. tomorrow, it'll be president trump. then he'll probably go to moscow and meet president putin. he is no longer an international
pariah. he wins. the idea of this summit, in a sense, is not a zero-sum game, where only oneder wins. you know, i think, genuinely, the hope of the whitese is that in the end, north korea can win, too, in a way, through economic development. you know, it'll be absolutely fascinating tomorrow morning to see these two leaders. all eyes will be on the first five minutes. that's what president trump said it would take him to know whether kim jng uong-un was ser enough. those personal relationships, we know, are important to president trump. we just saw how personal relationships can, in fact, do very badly wrong at the g7 with prime minister trudeau of canada. mentioning that, you know, kim jon -- kim jong-un is out on the town, but i'm sure him and his
advisers talked about what was happening at the g7. president trump and his friends agreed to something, and then he got on the plane and reneged something. the north koreans presumably said it about the iran deal, as well. if the u.s. and president trump signs an agreement, is it worth the paper it's written on? how can we trust this man? of course, the u.s. is saying, how can it trust north korea, which has a long, long record of breaking agreements. you have to look back to 1994. some of the north koreans who are here now were here then. they made an agreement, and they clearly began to break it very quickly. in 2002, we discovered secret nuclear facilities and so on. tomorrow morning, one-on-one discussions with just translators. echoes here are of reagan and gorbachev sitting down to talk about nuclear weapons. remember, sreagan's phrase,
trust, then verify. the five summit meetings were about building trust. the question about tomorrow's summit is, is it that or munich 1938, where sham bchamberlain a hitler met to built peace. chamberlain came out saying, peace in our time. we know what happened a year later. trust was busted. which is this summit tomorrow? >> good question. thanks, guys. thanks, bill neely and john park. >> i keep thinking about the last four days. president trump on his own -- wasn't asked about it -- said g7, it should be the g8. saying, let's bring in russia. almost dismissing the annexing of crimea, which is the reason russia isn't part of it. there's president trump turning his back on our g7 allies, democratic leaders, siding with russia and sitting down with kim jong-un, calling him a nice guy.
it's going to be interesting to see how all of this plays out. moments ago, kim jong-un toured parts of singapore ahead of tonight's summit. the meeting is going to be missing an important element on the american side. a really important element. this is a nuclear summit. there are no nuclear experts there. we'll look at the unprecedented resources it'd take to actually denuclearize north korea. it is a big deal. more than a handshake, smile, and a winning headline. you're watching "velshi & ruhle." disrupting business and taking on a life of its own. its multi-cloud complexity creating friction... and slowing innovation. with software-defined solutions, like hpe oneview, you can tame the it monster. hewlett packard enterprise. less complexity. more visibility.
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welcome back lshi & ruhle." moment acs ago in singapore, ki jong-un stole the spotlight ahead of his summit with president trump. kim hit the streets with his motorcade, taking a sight-seeing walk among popular tourist sites in singapore. the foreign minister of singapore joined him for the drive. the two taking a selfie during the trip and postingt on twitter. >> as the leaders prepare for the summit, secretary of state pompeo is pushing back against the "new york times" report, suggesting that president trump could be handicapped during the nuclear talks because there are no top scientists in his administration or with him in singapore. >> we covered denuclearization. >> it is a scientific issue. the "times" reports that donald trump is the first u.s. president since 1941 not to name a science adviser. quote, people who have participated in past nuclear
negotiations say the absence of such high-level expertise could put him at a tactical disadvantage. >> pompeo called out the "times" report directly. >> for over three months, 100 experts across government met multiple times fper week to address issues related to the dismantling of north korea's nuclear programs. they include the department of ener energy, phds and experts from doe labs, and officials covering north korea. >> joining us now, an expert in nuclear arms control, and former white house science adviser. president of the global security foundation. and nbc news chief global correspondent bill neely is back with us in singapore. john, i'll do to you first. you were president obama's science adviser. how big a deal is it, how critical is it, to have someone with that type of expertise in
this administration and in singapore right now? >> first of all, i think it is crucial that every president in the united states should have a science d technology adviser in the white house. not only to be able to tell the president what insights from science and technology are geain to whatever policy issue happens to be on his plate, but also to connect him with the most appropriate people across the administration for more detailed, scientific insights than might be available within the white house. in the case of the singapore summit, i think it would be important to have someone who is a real expert on nuclear weapons, science and logy, and verification science and technology, at the president's elbow, so that as the conversation proceeds, if issues come up where the technical details may matter, the president has authoritative
answers at hand. >> joe, we saw this in the iran deal, although that took, you know, ten years to hammer out, but toward the end of it. the secretary of energy had a great deal of experience in this stuff. trump and kim beginning the summit without specialists or advisers underscores that their real goal is to develop a personal rapport and stage a global speck thtacle, rather th ink details of an accord. while there are probably side meetings and technical discussions going on, is it possible this is just rapport building, and a real deal comes later with some real scientific work? >> if that's all it is, it will be a failure. it'll be a success for kim, as you pointed out. he already has success. if you come out with a meet and greet, it'll be seen as a failure for president trump. i don't think he can afford two major international failures in the span of two days.
the things you'll agree with may be general. they may be principles. under those are going to be implications that would require detailed ed understanding of wh you're agreeing to. you can't do it without qualified advisers. john holdren is one of the brightest minds in the country. when president obama was negotiating the iran deal, he had john with him, along with the chairman of the physics department at mit. that's what is lacking from this summit. >> bill neely, come back and walk us through what's actually happening there. when we talk about the importance of this nuclear summit, the president is not flanked by science guys. we're looking at the images of kim jong-un doing a sight-seeing tour. if he's doing a sight-seeing tour, and the reason he's even getting this stage is because of his nuclear capabilities, how realistic is it for us to believe anything significant or
tangible will come out of this as it relates to denuclearization? >> reporter: well, that is -- you've hit the nail on the head. the nuclear weapons are exactly the thing that has got him to this summit. they are one of the things that ensures his survival. as lots of experts far more clever as we have said, why on earth would he ever give them up on a promise? a promise from the united states, from a president who appears to be breaking agreements with his friends. this is the great dilemma. when we talk about tonight, you know, a similar kind of question comes into your head. kim walking around singapore. is this a genuine transformation? more proof of the new side of kim jong-un, or is this a cynical exploitation of his moment in the limelight? a moment where he can exploit
the united states. where he can fool the world into some kind of an agreement, while in some mountain somewhere in north korea, his scientists continue to do their rk by the way, it is naive to believe that his scientists aren't still working on the nuclear program right now. >> right. >> reporter: when you talk about irreversible denuclearization, you can't have it, really. you can't unlearn what you already know. there are so many -- we are in, as donald trump, i think, said, here.e in uncharted territory there are more unknowns than there are knowns. you know, a lot of the questions we ask, i genuinely think, there are no answers to. >> john, we're discussing, and viewers will be hearing over the next 12 to 16 hours, the term "cvid" a lot. complete, irreversib irreversible, denuclearization, as bill said. washington's goal, this is what washington wants out of this
north korean nuclear program. that includes dismantling and removing nuclear weapons, stopping eurocranium enrichment, disabling reactors, closing sig sites, and allowing test inspectors into any facility at any time. john, what is your sense of north korea's ability to meet these standards, assuming they would even agree to? >> well, of course, i think bill got it right when he said, there is really no such thing as irreversible nuclear disarmament. the knowledge cannot be erased. the question is, how big are the barriers that one can put in the way of reconstituting a nuclear program? another question is, in a society that's one of the most closed societies in the world, maybe the most closed society in the world, how much confidence can one have that there aren't scientists and technologists beavering away inside a mountain, or there aren't simply
some significant number of nuclear weapons hidden away? that's going to take extremely intrusive verification, within spe -- with inspectors able to go anywhere in the country they think is relevant. it is very, very difficult to imagine the north koreans agreeing to that. i would love to be surprised, by the way. i'd love to be surprised and find that kim jong-un really is serious about being willing to get rid of his nuclear weapons and his nuclear weapons capability, at least for the time being. but that really remains to be seen. it's a very iffy proposition, given the history of north korea in these matters. the agreements, previous agreements they have broken. and, again, the fact it is an extremely closed society. >> joe, is it possible we get to the point we're even talking about verification, if north korea decides to do ahead with
the deal? >> yes, it is. ali, in fact, the iran deal, the deal that president trump just violated, is a model for how to do this. very detailed, step-by-step process, where you take a step, verify that it is being completed, then take another step. in fact, john and i have a colleague, the former director of los alamos national laboratory. just did a comprehensive plan for how you would do this. how you would denuclearize north korea. they did it at stanford university. you can google it and get it. there are about 300 steps involved. >> wow. >> it will take anywhere between 5 and 15 years. when you break a problem like this down to the components, yes, you can do it. it all depends on political will and the willingness to implement the plan. >> guys -- >> can i just say -- >> go ahead. >> i'd be happier if sid was sitting at president trump's
right hand at the discussions and, of course, he is not. >> exactly. john, joe, bill, thanks to all of you. bill, of course, will be standing by. this summit is expected to -- our coverage is going to start at 8:00 p.m. eastern tonight. it is overnight. it is 11:30 at night in singapore. hopefully, everybody is getting to bed, and they'll have a good, early breakfast and start this early in the morning. >> hopefully they have a room with air-conditioning. president trump's trade war with canada escalating, as his top advisers completely attack justin trudeau in the mharshest of terms and misrepresent what trudeau said on saturday. this comes, of course, as the president claims the u.s. has a trade deficit with canada. for fact's sake, why trump, the president of the united states, the business trump, is wrong on the numbers. the actual facts. the markets are stable now, despite the trade war and trump's rhetoric. here is a live look at the dow right now. it is about as flat as flat
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welcome back to "velshi & ruhle." we are hours away from the historic summit with north korea and president trump. he's tweeting about the g7 summit and the chaos that he left behind. in one of several tweets overnight from singapore, he wrote, quote, sorry we cannot let our friends or enemies take advantage of us on trade anymore. we must put american workers first. he wasn't talking about china. >> canada. >> our ally. >> here's a recap of how trump clashed with our allies in canada, before leaving the summit early. trump praised his fellow world leaders and agreed to sign the joint statement of official values. >> i would say that the level of relationship is a ten. we have a great relationship.em relationship is a ten. what was strong was the language that this cannot go on.
the relationships are very good. whether it be president macron, with justin. justin did a really good job. >> okay. sounds good, right? a ten. >> is it 10 out of 100? he told emmanuel macron when he visited the white house last month, in terms of trade, europe has been worse for the united states than china has been. i question, when he calls himself the deal maker and business president, in what planet? those aren't true. later in the day, justin trudeau. >> justin to his friends. >> correct. called the u.s. tariffs on steel and aluminum insulting, and he vowed to retaliate. >> i highlighted directly to the president that canadians did not take it lightly. that the united states has moved forward with significant tariffs on our steel and aluminum industry. particularly, did not take lightly the fact that it's based
on a national security reason. for canadians, who either themselves or whose parents or community members have stood shoulder-to-shoulder with american soldiers in far off lands, conflicts from the first world war onwards, it is kind of insulting. i highlighted that it was not helping inur renegotiation of nafta. and that it would be with regret, but it would be with absolute certainly and firmness that we move forward with retaliatory measures on july 1st. applying equivalent tariffs to the ones that the americans have unjustly applied to us. i have made it very clear to the president that it is not something we relish doing, but it is something that we absolutely will do.
canadians, we're polite, we're reasonable, but we also will not be pushed around. >> that was the stab in the back. that was the thing. >> kind of insulti and unhelpful. that's what he said. >> after hearing that, trump pulled out of the joint statement. that's what he did. he took his marbles and went away. he tweeted that trudeau had made false statements, calling him, quote, very dishonest and weak. white house aides then went on the attack. >> he really kind of stabbed us in the back. he really actually, you know what? he did a great disservice to the whole g7. >> there's a special place in hell for anyoreign leader that engages in bad faith diplomacy with president donald j. trump, then tries to stab him in the back on the way out the door. >> what are they talking about? >> those statements are wholly irresponsible. maybe they're banking on the fact the audience isn't going to see what justin trudeau said. hopefully, the audience will
turn up the volume for this. facts. president trump has claimed the u.s. has a trade deficit with canada. for fact's sake, let's set the record straight. i know sean hannity and tucker carlson love to take our segments. here's one. according to the office of the u.s. trade representative, u.s. goods and services, because that's how you look at the whole number, boys, that trade with canada totaled $674 billion in 2017. now, when president trump says there's a trade deficit, it's only when it comes to goods. he's only looking at part of the numbers. the u.s. trade rep says the u.s. has a $17.5 billion goods deficit with canada in 2017. now, factor together goods and services, because that's the whole number, remember the service economy, u.s. exports were $341.2 billion. imports were $332.8 billion.
that, my friends, gives us a trade surplus of $8.4 billion. >> boom. >> canada says it will impose retaliatory tariffs on u.s. goods july 1st. it remains to be seen what they will be. no doubt, u.s. exporters will feel the pain. the u.s. trade rep says the canada was the united states' largest goods export market last year. >> all right. thank you for that. cnbc is joining us. ron, here's the probm. you rember back in the day, before nafta, back in the day before the free trade agreement, you and i are old enough to remember the auto pact. >> yes. >> that was the deal that cars would be assembled in the united states and canada, and you won't know the difference when you go to buy one in canada or the united states. we get our oil from canada. it is not labeled, like the cars. you have no idea it is made in canada. we get a whole bunch of agriculture from canada. it is not generally labeled. you don't know, unless you're
eating canadian bacon. the fact is, americans don't realize -- >> or maple syrup. >> -- the degree to which we are interdependent and have this core relationship with canada. this is a more serious fight than donald trump may be aware. >> not only that, the president threatened to place tariffs on autos coming in from canada. they have no auto manufacturers at all. the companies in canada are general motors, ford, honda, and toyota. he'd be putting tariffs on gm and ford if he went that far in this war. we talked about this yesterday with alex. this is, on the trade front, this administration is guilty of a staggering degree of incompetence. they reject knowledge, experience, and expertise in this area. >> i would understand if you told me the president doesn't know about economics. one of his advisers, ivanka trump, may not have the expertise. larry kudlow has the expertise. >> free trader, as well.
>> while there are products, you can say, what are they saying about dairy exports? that's 0.1% of trade total. >> yes. $67 million. and we have a dairy surplus, by the way. >> larry kudlow knows better. what do you believe larry kudlow is doing, when calling justin trudeau a back stabber on a fellow network. >> john heartwood identified this yesterday, as well. everybody who speaks on behalf of the president speaks to an audience of one. there is this desire, apparently, to look strong before the summit tonight. they also telegraphed the notion that if they're looking strong, they're doing it for kim jong-un's benefit. they're telegraphing -- >> they don't have the facts on their side. >> not at all. not in the least. on trade, not in any way, shape, or form. not on nafta. 1993, we had $300 billion of tri-lateral trade among the u.s., canada, and mexico. today, it is $1 trillion. this is not, as they say, a
zero-sum game. not in any way, shape, or form. if you were to auto supply chains from canada and mexico, the u.s. only produces a little under half of the autos sold in the united states. how do you all of a sudden just rebuild that supply chain domestically without driving costs through the roof, and without disrupting all manner of economic activity? not only that, threatening a global trade war that could slow the global economy and throw us into recession? >> not only that. china signalled to canada, we'll die yo buy your oil and build the ports to get it there. >> we could sell it to china tomorrow, if we had the licensing, and no one would talk about the trade deficit anymore. >> ron is the author of "how to make a fortune from the biggest bailout in history." >> it is a nine-year-old book, by the way. >> it is a good book.
>> goods and services. president trump's trade war is about to hit iconic american products like whiskey and the kros p crops used to make it. we're joined live by vaughn hilliard. >> reporter: this is a vat of corn, rye, barley that makes bourbon. we'll be here after the break to talk about the trade tariffs impact on folks like eric and the farmers here that send their product here. we'll be back here live on "velshi & ruhle" from limestone bridge distrillry. troke due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin, i'm up for that. eliquis. eliquis is proven to reduce stroke risk better than warfarin. plus has significantly less major bleeding than warfarin. eliquis is fda-approved and has both. so what's next? seeing these guys. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke.
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. we are back on "velshi & ruhle." a look at yet another american industry that could be impacted by president trump's trade war. bourbon. >> mexico imposed a 25% tariff on the popular liquor effective june 1st. the european union is threatening a 25% tariff. canada is threatening a 10% tariff on bourbon and other american whiskeys starting july
1st. this is in retaliation to president trump's tariffs on imported steel and aluminum. >> 95% of the bourbon comes from kentucky. vaughn hilliard joins us live from the distillery in kentucky. this is an important topic for the farmers who produce the grain for that bourbon. what are they telling you? >> reporter: exactly. stephanie, this is about more than your glass of bourbon. talking over the last three days with these farmers, most ultimately voted for president trump. they say they still have the confidence, that he is ultimately going to create the deal. what it comes down to is they're not ignorant to the fact that the real repercussions that it's already having on their industry. these were some of the farmers we spoke to over the weekend. where does agriculture find itself in this? >> caught in the middle. we're always the first shot. people have to eat. you can get by without having a new pickup truck or a new
combine. you can't get by without eating. >> we don't want to see protectionist policies come into place. it's not going to get us where we want to be. >> reporter: the tariffs at this moment, you're okay with? >> well, i'm not shaking in my boots, but i don't like them. >> hardball may play out. in the meantime, since the first day of june, the price of corn dropped about 8% or 9%. >> free and fair trade is the way to go. >> reporter: stephanie and ali, the farmers are sending their goods, corn, wheat, barley, right to this vat that is ultimately fermented and then sent into these distillery processes behind us here. when you talk to the farmers, the question posing over the last week is, what is the better deal that president trump promised them look like? this is not a statement of judgment. they ultimately acknowledge, saying tharsay ing they don't know. they want an expanded market
because profit margins are thin. profits may take a hit. for instance, the corn futures already dipped by 8% in the last three weeks alone. they said, what they want to return to is a reliable market. when you look at other countries for corn, i was talking to one farmer, albert peterson, he said there's good soil over in russia and south america. but what the u.s. has been able to offer, including here in kentucky, is geopolitical stability. they know when they tell these foreign nations that they have the product, they know it's going to be a good product and they'll get it. for the first time in many years, that is on the line and that is a question they don't know what to expect. for their own crops that will be coming up in just the next four months, what they'll get in return. >> so a little uncertainty in the market. thank you very much. good gig you have out there going around to america's industries affected by this trade war that we're in thank you very much for your coverage. von hilliard in lebanon,
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it's a good time to get your ducks in a row. duck: quack! call to request your free decision guide now. because the time to think out tomorrow is today. welcome back. a live look in singapore, less than ten hours before tonight's historic nuclear summit between president trump and kim jong-un. earlier, we saw kim wrap up his night with a tour of singapore's highlights before he returned to his hotel for the night. also today, rules take effect that can change the way you use the internet and how much you pay for websites, like facebook, twitter, netflix and a whole lot more. the repeal of net neutrality is official. the idea that all data must be treated equally. the concept prevents internet service providers from speeding up or slowing down traffic on their networks. the idea has within around sibe
the early 2000s, but it wasn't official policy until 2015. but starting today, that is being rolled back. without net neutrality rules, service providers, companies like at&t, verizon, chart e and comcast, which is the part of msnbc and others, could decide which websites survive and which don't. they could slow down traffic to competing services, known as throttling, or block certain sites entirely. or they could slow down the traffic on their own network, forcing consumers to pay up for access to popular or high band width sites like youtube, facebook, hulu and more and creating internet fast lanes, making those companies cough up more dough. the fcc chairman says it makes the internet more competitive,
but opponents say service providers can pick winners and losers, turning the internet into a pay to play service. >> joining us now is kara swisher. that was a good explanation stephanie just provided. here's what the fcc chairman said this morning. >> going forward, we have empowered the fcc to take action against any company, including those in the situation that you mentioned, that might act in these base. so we preserved the incentive to build out better, faster, cheaper internet access for consumers. >> that's actual will you what net neutrality allowed to happen. he's saying they're going to make that happen without the rules that kept net neutrality in place. >> he was just here on the floor of the new york stock exchange and we talked about it a little bit. he's of the mind that it's
precrime. they haven't done anything and if something happens they will enforce it. the issue is a lot of this is about who h on the internet and who runs the internet. one of the things is that things have changed and companies like google and facebook have a lot of power now. they had fought the net neutrality rules many years before when they wanted more access. the question is, who runs the internet? and if the internet is going to be run just by giant powers like these, including comcast and verizon and others who are -- there's not enough space for new companies to arise. that's what i'm more concerned with, where do startups come in here and how do they afford what is essentially now a game of giants fighting each other? >> and what's the answer to that? because the fcc chairman could say i'm making it more competitive. he is, if the game is survival of the fittest. >> there's an expression when
elephants fight, the grass gets crushed. where are the small companies that became the big companies and how is innovation created? one of the great things about the internet is it created all this wealth, because it was open. and now the question is, who controls it and who should pay for it? and eventually it will be the consumer. that's the question around these rules. and some people feel like by deregulating it, it creates more of an open environment and others say these companies have to be helped because these giant companies can have determination over their fate. >> kara, about two dozen states are suing the fcc over the repeal, being spearheaded by new york's attorney general eric snyderman. and some governors are signing executive orders that restore net neutrality rules. any of that going to be effective? >> i don't know. i think this is a federal issue. there are states trying to do this and put these rules into place, just like on climate change and other things.
it's an interesting trend of states trying to make their own rulings on a lot of topics. this is really a national issue and the fcc has long had purview over this. and i think the question is, has history gotten away from it, and is this needed in the future? if you notice, none of the big companies are as actively objecting to this now, because they have their piece and their business and their money and power. so i think -- i again, i'm more concerned with smaller xae eer companies, whether it's going to be very hard for -- people are making your choices about something built by the u.s. government and paid for by the taxpayer, is now in the hands of corporations. >> so something that started out with somebody's basement may not happen now, because you can't start your company if you can't compete with the bucks of facebook. >> mostf us view the internet as a utility, like turning your water on and your lights on. i know you said you just caught
up with the chairman for a moment, but does he disagree with that premise of what the internet is? >> the internet has changed. what the interts now facebook and google and amazon, really. that's the thing, it's not what it was. and the way we think of the internet has to change. his argument, i'm just going to make his argument for him, this isn't needed anymore, and regulation only hinders more innovation. the question is, where is the next internet, block chain, other places? the internet is not the internet of today. so the question is, where does it go and what is the next innovation, likelock chain or the other internet or what's going to happen next is the big question, how does that create it? >> good to see you. thank you for your explanation. catch more of her reporting on msnbc.com/revolution. >> thank you for watching. i'm going to call it an important hour. >> see you back here at 3:00
eastern. our coverage of the north korea summit in singapore will continue, though, through the course of the day. >> at 9:00 a.m. is when i'll see you next. check us out on social media. right now we hand you off to our friend and colleague andrea mitchell, where she's reporting live from singapore. >> and right now on a special edition of "andrea mitchell reports," live from singapore, face-to-face, just hours from now donald trump becomes the first sitting american president to meet with a north korean leader. the goal -- convincing the world's most brutal nuclear power to give up its weapons. [ inaudible ] >> a tale of two summits on the eve of his sitdown with one of america's toughest adversaries. at the g7, president trump goes after his friends. his top trade