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mnuchin. plus larry kudlow and ivanka plus larry kudlow and ivanka trump coming up right -♪ he's got legs of lumber and arms of steel ♪ ♪ he eats a bowl of hammers at every meal ♪ ♪ he holds your house in the palm of his hand ♪ ♪ he's your home and auto man ♪ big jim, he's got you covered ♪ ♪ great big jim, there ain't no other ♪ -so, this is covered, right? -yes, ma'am. take care of it for you right now. giddyup! hi! this is jamie. we need some help. maria: welcome back to our special one-hour edition of wall street. now my interview with treasury secretary steven mnuchin. you cut the corporate tax rate to 21% and critics say it's not helping others. why the focus on lowering the corporate rate and what impact has it had? >> i traveled with the president during the campaign. we literally met with tens of thousands of people. we met with small business and big business. we heard two critical things. please cut regulation and allow us to do business and give us a competitive tax code. if we can compete fairly, the united states will win and we'll see products made

country's top leaders on fiscal policy coming up. steven mnuchin will be here. and larry kudlow. along with the advisor and daughter to the president, ivanka trump is here. along with the office of management and budget director mick mulvaney. and we have an extended preview of my exclusive one-on-one interview with president trump. that interview airs sunday at 10:00 a.m. eastern on "sunday morning futures" and monday morning at 6:00 a.m. on fox business network on "mornings with maria." here are the big headlines this week. reporter: another rocky week for the markets. despite a late-week rally by nike, jp more dan and goldman sachs. the markets finishing in the red in part from trade concerns. despite a strong month, consumer stocks and real estate raising rates for the second time this year. trade concerns causing the mark totes finish mixed this week. oil prices hitting a 3 1/2 year high. president trump was in wisconsin this week to break ground on foxconn's facility that could employ 50,000 people. he took a shot at milwaukee-based company harley davidson after they announced th

lineup in the next two hours here on "power lunch." president trump's top economic advisor, larry kudlow, speaking earlier saying that the u.s. economy could top 4% growth. we'll debate that. and then we will get the fed's latest take on the american economy in just under an hour's time from now. in about 90 minutes we'll hear from carlisle group's david rubenstein he will join our becky quick to talk deals, the economy and much more. >> let's get a check on the markets. i'm getting ready for my big interview with steve bannon later on today trade tariffs and the threat of china. a lot to talk to him about later on this afternoon, we'll have that in your other show you do, melissa, "fast money." right now stocks are managing to carve out some modest gains ahead of the fed's beige book. the industrials higher by 76, the s&p higher by 5 and the nasdaq is a little lower financials and industrials is the day's best performing s&p sectors. consumer staples, real estate, utilities, they are the worst. all those interest rate effects that we're seeing in the markets today, melissa. >> meantime we want to

national economic council director larry kudlow here, along with the advisor and daughter to the president, ivanka trump is here. along with the office of management and budget director, mick mulvaney all coming up. we have extended preview of my exclusive one-on-one interview with president donald trump. >> big thing i'm focused on i have to straighten out trade deals. maria: this marks the six-month anniversary of the of trump tax cuts, first major reform to the tax code in more than 30 years of the legislation had an incredible impact on the economy. i spoke with treasury secretary steve mnuchin about the tax plan six months later and much more. >> we couldn't be happier with the progress that we've made. but we still have more to do. and i think you saw yesterday, i was pleased to be with the president in wisconsin. here is perfect example of bringing advanced manufacturing back to the united states. this never would have occurred, if it wasn't for the tax cuts and for us changing from an international system that was broken to a very competitive tax system that now works for

policies this is how we started it. >> let's leave it there. larry kudlow, thank you so much! [ applause ] it's larry kudlow with jim cramer at delivering alpha this morning. a lot of topics. gdp. in kudlow words maybe for the next quarter or two. >> and no recession in sight. >> right on china a significant trade is in -- being stalled by president xi good morning welcome to "squawk on the street." david faber is delivering alpha and going to be there. this was a heck of a way to dick off, david. >> yeah, it was interesting listening to kudlow. i think listening to our experts chime in, of course, carl, in terms of what they thought was important. from my perspective, it was the language used to describe the trade dispute with china which i think differed in tone with how he was describing relations, at this point, with europe. and certainly with mexico. it is seemingly, at least, the possibility of real progress it didn't sound that way on china, to me i'm not sure what you thought. >> no, he said xi doesn't want to make a deal it's holding the game up he could end the tari

once reported. the president's economic advisor larry kudlow has been talking about this being a strong number. the president himself was believing this would be a strong number. they don't get a look at it before it comes out. they were very confident we'd see this type of growth before this number was announced this morning and the dow seems to be climbing a little bit here 10 minutes into trading. >> bill: i'll make you a wager. i say we end up in positive territory today. i'll say triple digits. the number was good. not a disappointment. you met it. you've talked about it for weeks. heck, you campaigned on this number. remember candidate trump saying 2% is not good enough for america? you put me in there i'll get you back to 4 and we'll grow to 5%? you cannot be satisfied with the current trends? that's what he campaigned on. >> sandra: chevron, exxonmobile. they're waiting on the dow on the lower-than expected earnings shaving a decent amount off the dow at this moment. the gdp strong. the president should be out to speak in a few moments from now. >> bill: we need to check

national economic council director larry kudlow here, along with the advisor and daughter to the president, ivanka trump is here. along with the office of management and budget director, mick mulvaney all coming up. we have extended preview of my exclusive one-on-one interview with president donald trump. >> big thing i'm focused on i have to straighten out trade deals. maria: this marks the six-month anniversary of the of trump tax cuts, first major reform to the tax code in more than 30 years of the legislation had an incredible impact on the economy. i spoke with treasury secretary steve mnuchin about the tax plan six months later and much more. >> we couldn't be happier with the progress that we've made. but we still have more to do. and i think you saw yesterday, i was pleased to be with the president in wisconsin. here is perfect example of bringing advanced manufacturing back to the united states. this never would have occurred, if it wasn't for the tax cuts and for us changing from an international system that was broken to a very competitive tax system that now works for

no tariffs whatsoever. raw trade and reciprocity. >> and larry kudlow brought that up, and no subsidies macron didn't know what to do and couldn't get out of the seat the whole scam is the state-owned industry and brexit in 2016 are inextricably linked and what links them is china it's china's exporting and it's deflation and chinese exporting excess capacity that is gutted, the midland heartlands of inland and obviously through germany and the upper midwest of the united states. if you go out to the midwest and you give them a fire breathing speech on china, you don't have to get them up to speed like the elites in new york and they reminded me that these studies from m.i.t. and harvard show there was a direct correlation between the factories that went overseas and the jobs that went with them and the opioid crisis. remember -- >> let me ask you this -- >> tariffs are not just about economics and they're just not about manufacturing jobs it is about self-worth and identity and people understanding they have jobs, okay this is bringing these manufacturers back -- >> is it goo

director of the white house national economic counsel, larry kudlow is trying to clarify this eyebrow raising remark that he made on friday. >> as the economy gears up, more people working, better jobs and careers, those revenues come rolling in and the deficit, which is one of the other criticism is coming down. it's coming down rapidly. >> the deficit is coming down rapidly. later that day cnbc washington correspondent said kudlow called him and the quote was misinterpreted. he said he have referring to future deficits thanks to a boom he claims is happening. i also spoke with the chairman of the council of economic advisors later that day. here is what he said. >> i just feel that what larry kudlow was said is inaccurate. >> you'd have to talk to him about it. what larry is convinced of is we're going to have capital spending boom, which we are. growth will surprise on the upside. >> okay. for fact sake let's take a look at what's really going on with the deficit. this will involve some numbers. i'm going to make it real easy. these claims that kudlow take only take hold if people

larry kudlow this morning. before he joined the administration, he wrote a piece just a few weeks before urging the president not to move forward with tariffs. he's been a true free markets guy for decades. yet, this morning he claims that this problem was not of the president's own making. please take a listen. >> past presidents in both political parties have tried to fix the broken world trading system. china is the worst. all i'm saying is this is not of mr. trump's own making. this is something that mr. trump inherited. very unfair trading practices. this is a very difficult task. reform always is. there's a swamp for the world trading system, and he's trying to drain it. >> larry kudlow is right. unfair trading practices exist. credit to the president for taking them head on. but larry kudlow is not answering the question. the issue that we're facing today is the impact of these tariffs. by putting these tariffs forward, he's gone around congress, and he's creating $12 billion in emergency aid for farmers, using a tactic that was created during the depression. so while the p

larry kudlow will be here in moments. >>> healer in chief? we'll talk to a potential dark horse 2020 candidate with a history of bringing people together. >> you elected me to do the right thing, not the easy thing. >> former new orleans mayor mitch landrieu next. >> hello, i'm jake tapper in washington where the state of our union is seemingly on two different tracks. there are now 100 days until the midterm elections and president trump is dealing with two different realities, positive economic news and also scandal and controversy including a messy public war with his former personal lawyer michael cohen. the feud between the president and his former fixer is heating up. late saturday night, one of the president's current attorneys, rudy giuliani argued in an interview that the tape cohen secretly recorded discussing a hush payment to a former playboy model was, quote, tampered with. he told cnn the president's team has sent the recording to several forensic experts. a source force to cohen fired back mocking giuliani and telling me, quote, obviously it's a lie. shocking. this aft

friend of yours, larry kudlow. the director of the president's national economic council. larry, welcome back, so good to see you. thank you. >> brennan: we did have a good economic growth number that q2 number 4.1%, hard to argue it was anything but goodwin for the president. but when you take it apart was this sort of just a temporary burst of buying ahead of the implementation of the president's tariffs? >> no. i don't think so at all. the basics of this number were consumer spending and business investment. those are the basics of any number. c plus i to put it in economic terms. it's doing terrific, rising better than 4% as was the overall. and i know some people have tried to downgrade this by ahead tariffs.s, buy heay, we don't know that, lot of heroes about that. i'm glad to see exports rising whatever the reason. the biggest thing that nobody has talked about in terms of these smaller issues is, inventories. inventories fell by i think $5 billion. that is very unusual. it took at least a percentage point off of gdp. but these things jump around a lot. the heart of this

, sir, appreciate it. >>> a big day for your money. by the way, we have larry kudlow coming up on the show today. we're talking about that trade deal, of course, and the economy. kudlow, first on fox, 11:30 eastern this morning. >>> now this: dallas cowboys owner jerry jones, he said his players will stand for the national anthem, toe on the line, to be preice. that's what he says -- precise. brian kilmeade will give his take on that later on in this hour. ♪ insurance that won't replace the full value of your new car? you'd be better off throwing your money right into the harbor. i'm gonna regret that. with liberty mutual new car replacement we'll replace the full value of your car. ♪ liberty. liberty. liberty. liberty ♪ stuart: spotify, a music streaming servt its best level since it went public. why? because it reported an increase in paid subscribers. okay, it's up a buck, 188. >>> now this, the president slams twitter with for reportedly cent -- censoring some republicans. we will look into this discriminatory and i legal practice at once, many complaints. where's this -- wh

. >> you don't talk about it on prime time. when was the last time you had larry kudlow on talking about 4.5% growth rates. >> larry kudlow should do more interviews, i agree with you. >> i'll call him. >> can i ask you about sin clare briefly, there was evidence about the sinclaire deal. i know you spoke with the president about it. is he the invisible hand overseeing media regulation right now? >> i think he's quite the opposite. i don't think there's any evidence he got any medals in the fcc. you know that's an independent agency. and his appointment showed a lot of integrity. he rejected the deal not because he dislikes sin claire, they're eight months delayed in the process, refuse to comply to the most >> they were doing some shady stuff. just to explain to our viewers, they were doing something to secretly own the stations. >> i told the president about my opposition, because sin claire would have reached 77% of u.s. homes. i did not necessarily agree with that point of view, i did not want to see nbc and the rest of the liberal networks owns 70%. i think it would have been very d

listening to his adviser, larry kudlow. larry kudlow is a big free-trade guy. i voted for trump because of some of his economic policies but i wanted to secure the supreme court. these tariffs are going to hurt people. when you go to walmart, everything is going to be doubled. your pickup truck is going to be 25% more. that is the problem. it is going to hurt us, so i disagree with these tariffs. thanks for your show. daniel: i couldn't agree with the caller more. i think you have successfully put it well. the president really believes this. he has been, complaining about trade. 30 years ago, it was japan. now it is china and other trading partners. he's getting free-trade advice from certain advisors, steve mnuchin at treasury, larry kudlow, but he is getting protectionist advice from peter navarro and wilbur ross and robert lighthizer, and they are ascending in this administration so the president impulses and tendencies on trade are being reinforced. we are going to pay the price for having a real-life experiment here. economists of and saying free-trade is great for the united states,

ago. senior trump administration officials including the normally cheerful larry kudlow, top economic adviser, you're not hearing -- my colleague spoke to larry kudlow last night. not hearing the old larry kudlow. don't worry, everything will be fine. we'll find a solution. this is a larry kudlow saying, no, we really need to take on the chinese and this is, the ball's in their court, she is really messing with us and messing with the wrong guy if messing with donald trump. hearing bellicose from senior trump officials, when we talk to them privately there really isn't any obvious exit ramp from this cycle of escalating tit for tat tariffs. as for consumers, farmers, the people this has effects on living around america, this is a concerning situation. >> then let's hone in on those potential voters and consumers. it seems that this trade war with china will be changing up at least some of the senate races in trump states. tell us a little bit more about how that is playing out. >> it's not just senate races. it's also house races across the midwest. we are already seeing the effects o

one-time shot. >> top kmous economic adviser larry kudlow joins me. after you were last here, you had health problems. you're out of the woods, good to see you. >> never better. to quote my favorite author, reports of my demise were greatly exaggerated. >> we're happy to hear that. 4.1% growth rate is a positive for the country. you said you agreed with the president this is sustainable. there are economists are skeptical. moodies says the growth is not sustainable and will come close to stalling out in 2020. another said it's a result of doomsday prepping. in "the new york times" she said, quote, global economies are stockpiling raw materials, intermediate and finished goods before tariffs take effect. once they hit demand, they will no longer need to build inventories and this boost to economic growth will end. why are you so confident it's sustainable? >> i appreciate that they disagree, they often do. policies matter a lot, jake. i think the president deserves a victory lap. low tax rates, rolling back regulations, opening up energy, for example. trade reform which i think is alre

larry kudlow, mark lasry, we'll have much more on the delivering annual conference in a few moments. and it may be a good day for you and your money stock futures are slightly in the green. all eyes are on the nasdaq, not the dow. it's all about the base, ns, noe treble tech stocks keep pushing higher. yesterday a number of big-time stocks made for highs. amazon, facebook, google, microsoft hitting new records. amazon shrugging off prime datek woes we'll get more on that in a bit. buyers are still coming into bonds. the ten-year ticking a bit lower to 2.86% >>> we'll have more on the broader markets and your money in a second. first we have some big breaking news on big tech, specifically google european union regulators set to fine the company a record $5 billion. let's get to willem marx with the breaking details on alphabet >> thank you very much the last few moments we've been hearing from sources at both major news agencies that we are going to expect 4.34 billion euros worth of fins leveles levd against google we will hear about this publicly in a few hours time. this is about

the entire world. >> brennan: top economic advisor larry kudlow about whether that growth is real and sustainable. plus the president's attorney rudy guiliani weighs in on the new allegations against mr. trump from his long time fixer, michael cohen. also hear from republican who is not happy with the impact of those tariffs on his home state, ron johnson, a new hampshire democrat. we have new polling from our battleground tracker about america's views on president trump's trade policies and its impact on the mid term elections. plus analysis onnall." thes good morning and welcome to "face the nation." we begin todayÑi with president trump's attorney rudy guiliani who is in our new york broadcast studio this morning, mr. mayor, thank you for joining us. the president told cbs news earlier this month he still wants to speak to special council robert mueller. so, when, where, what format? >> welk youÑi know, we have been distracted on all kinds of things starting with peter and the horowitz report now michael cohen surprising all of us. >> brennan: is that is what is holding up yo

with kevin hassett and larry kudlow, not taking questions. i should reiterate the headlines. he talked about the trade broughtand how he has that down. he says the numbers are sustainable and we should see someone numbers in coming quarters. -- similar numbers in coming quarters. hetalked about the economy, talked about women and minorities, talked about manufacturing wages and the still industry. -- steel industry. demographic exchanges with his base. and he talked about health care and tax cuts, as well. in talking about how the drilling and mining activity has skyrocketed and how the president has done what he was not sure he would do, that he has brought on the trade deficit. did 1% ofaying trade growth, but a lot of it was driven by imports of soybeans from china, and that could have been in anticipation of tariffs. no guarantee that will be sustained. so a lot to digest. caroline: i think it is interesting the parting remark from larry kudlow, saying this is sustainable as far as the eye can see. i am looking at reporting today, bloomberg economics, analysts saying we are expecti

, many years. decades. and i think the most important thing, and larry kudlow just confirmed to me along with kevin hassert that these numbers are sustainable. it isn't a one-time shot i happen to think we're going to do extraordinarily well in our next report next quarter i think it's going to be outstanding. i won't go too strong, because if it's not quite as good, you won't let me forget it i think the numbers will be outstanding. we've accomplished an economic turn around of historic proportions. when i came into office, 1.5 million fewer prime age americans were working than eight years before we had lost almost 200,000 manufacturing jobs under the previous administration, and you all know they say well, you have to lose manufacturing jobs it'll get worse and worse. manufacturing jobs are obsolete. no more than 10 million additional americans had been added to food stamps in the past years but we've turned it all around once again, we are the economic envy of the entire world when i meet the leaders of countries, the first thing they say congratulations on the economy. you're

, and he said his chief economic advisers, larry kudlow and kevin hassert told him the growth would be very, very sustainable, that despite the suggestion from economists that the data showed tax cuts may have temporarily boosted business investment and consumer spending and that companies rushed to export goods ahead of trade disputes. asked about that particular dynamic on today's report, larry kudlow told reporters he's not sure exactly what that impact was. because of higher exports, the trade deficit shrunk by $50 billion. that's a number that he said made him feel more honored than the growth number itself, but the administration expects this to continue at least for several quarters tyler, we'll see if it does. >> we shall see. kayla, thank you very much so is the president right and can the economy head even higher from here or is this maybe as good as it gets? joining us is austan goolsbee and lanhee chen. mr. chen, is there a nit to pick in this report or is it all tulips and roses >> look, i think there are always nits to pick and always ways of looking at these reports and

larry kudlow and good friend art laugher, all the supply-siders in the reagan administration agree with this. this was the principle of the kennedy administration in the 1960s. the united states has always grown at historic rates. the only time it hasn't when big government reared its head. stuart: brian, thanks for coming on with us this morning. an, thank you very much indeed. big companies reporting twitter, fewer monthly active users. that's a problem. they warned that number, monthly active users could keep falling as it deletes those phony accounts. that stock is down 12%. >>> look at chipotle. better he sales, they raised prices and i'm told their demand for the queso cheese dip is strong. chipotle is a turn-around story. it is up 6% this morning. >>> starbucks, not so rosy forecast, when you do that the stock goes down. this time not so much. it is down just 10 cents. they're apparently feeling the heat from competition. >>> he chevron, there was a drop in natural gas prices and that offset it. that stock down 1 1/2%. >>> profit falling short at endings on mobile. believe i

economic advisor, larry kudlow? i voted for trump not because of his economics, well some of his economics, but i wanted the chair for the supreme court. the thing about these terraces that they will not work -- these tariffs, is that they will not work. when you go to walmart everything will go double. when you buy your pickup truck it will be 25% more. that's the problem. it will hurt us. i disagree with these tariffs. guest: i couldn't agree with the caller more. he put it well. the president really believes this, for 30 years he has been complaining about trade. 30 years ago was japan, now it's china and other trading partners. i think you getting free-trade advice from certain advisors, i think steve mnuchin at treasury, larry kudlow, but he's also getting protectionist advice. prejudices and impulses on trade are being reinforced, and i think we are going to pay the price. we are having a real-life experiment, economists and other people have been saying free trade is good for the united states. shows in our economy and opportunities created. but we are going to impose tari

many people are getting on board with steve mnuchin and larry kudlow. there was an interesting question posed to mnuchin. he was asked about the big losses with facebook and twitter. he said, people need to have a diversified folio. i am not too worried about them -- portfolio and i am not too worried about them. thinking back to the last time the u.s. had growth that the administration wanted, which was in the 1990's under bill clinton, that came to an end with the .com bust. yvonne: we really saw this productivity that was the reason we saw sustained growth. we also hear from economic council her larry kudlow, who said president trump should not be blamed for the damage from tariffs. trump'se say, president tariffs are damaging this, that and the other. i say, do not blame president trump, he inherited a completely broken world trading sentiment -- world trading. yvonne: many people are siding with kudlow. ros: one person that would not be siding with kudlow would beat kudlow before he joined the trump administration. yvonne: [applause] -- [laughter] trader.s to be a free the

this. you hear larry kudlow saying we just have to wait to see what works. if the president is right, this could turn out great. if he's wrong, who knows what's going to happen? i think his aides have resigned to where we are. >> this is any president's dream. there are a lot of people watching who didn't vote for the president. you can say this started under obama. that's fine. look at the headlines around the country. the president could just breed that in and he did take credit this week. you could take the victory lap and not do anything to mess with that, or you can try to do what -- this is the issue on which he's been most consistent. >> look, there is a playbook for taking an amazingly good economy and turning that into an electoral success with an election in a few months. the question is will he follow it? the message discipline that he and the republican party have to have to counter and blunt the democratic wave that could be coming, you need to stay focused on that topic. and the trade war is one of those things that could challenge that discipline, but there are a milli

that as we wait out what the strategy will yield. larry kudlow talked about a surprise on the upside. what did he mean by that? >> larry kudlow is known for it being positive. the expectations are so low going into this, the president possible talking about increasing auto tariffs, there is still an ongoing investigation as to whether the administration will move in that direction. he also floated 0%. two extremes there. this is the first business meeting. >> harris: thank you very much, good to see you today. the house financial services committee, you know they're talking about this. congressman, great to see you. from the great state of wisconsin, always. i want to talk about the concept, you just heard our reporter refer to a trade war being discussed on your committee, is it real or not? >> i think we were in a trade war before donald trump even took office. other economies around the world have barriers and tariffs on american produced goods. donald trump for the first times that i am going to push back and make it fair for the american worker. there is some pain in the process

. larry kudlow, the national economic council director said trump should not be blamed for the damage. >> people say, president trump's tariffs are damaging this, that and the other thing. i say don't blame president trump. he inherited a completely broken world trading system including a world trade organization, most particularly china but not always china. ramy: who agrees? manyi don't think too agree with everything larry kudlow said. there are many people who there is resignation -- there is recognition with the world trading system and things could even manyut businesses in the u.s. and republican lawmakers, you know, don't is a surly buy into the idea the administration is on the right path. they think there may be ways to address problems without going full on trade war. in the past week, as you know, we had profit warnings from general motors, westinghouse appliance maker talking about unintended consequences of steel and aluminum tariffs. they were happy when the administration put -- not happy on the tariffs on washing machines. they did not expect to get hit by the knock o

tariffs. larry kudlow, who in the past has referred to tariffs as regressive, was asked on cnn's "state of the union" if he now agrees with the president, who recently tweeted tariffs are the greatest. >> you know, if they're targeted for good purpose, as per china, i think the answer is absolutely yes. that's always been my view. most free traders agree china has not played by the rules, and the trading system is broken, largely because of them. let me say this. the president has adopted a view with which i completely agree. he's a free trader. and he wants to have no tariffs. >> i want to bring in art laffer, economist and adviser to president ronald reagan. also, ben stein, who worked for richard nixon and gerald ford. good to see you both. >> thank you, fred. >> art, you first. the president argues these tariffs are a short-term pain for a long-term gain and that tariffs are the greatest. do you agree? >> no, i don't think tariffs are the greatest, but they may be a good strategic plan for getting china to come to the negotiation table. to renegotiate, china has been recalcitrant on

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. >> even earlier larry kudlow said he believes gdp could be four percent for a few quarters despite trade tensions we are seeing. he believes dealing with trade now will be better for the long run. >> i have been a long time critic of china. it is all a matter of public record on the tape. i think the president is doing exactly the right thing here. the world trade organization is broken. we just had this discussion at the g-7. the biggest culprit is china. >> kudlow added he doesn't believe president xi has any intention on following through on their discussions and until they do president trump will keep the pressure on. >> fascinating stuff. what did ken griffin have to say about the banks because he is often fairly outspoken about that. >> he has spoken about how he would like to see the banks break up, become smaller. he reiterated that point today talking about how a greater number of banks is better for competition which would provide better value for the consumer. when he was pressed on citadel he said there was plenty of competition in that business. i think he was speaking

biggest. >> lots of economic news out of yesterday. larry kudlow yesterday morning saying he believes gdp could be 4% for a few quarters despite trade tensions he hinted the administration was considering tax cuts 2.0 and despite some of the signs like flattening yield curve, ckudlow thinks the growth part of the cycle has room to run. >> consider the possibility that a capital spending boom that we never really had, okay widespread capital returning back to the united states, you know this is the hottest country right now in the world trillions of dollars are coming here it's leaving europe and leaving china and a lot of places and we've never seen these kind of inflows probably since the 1990s. it is possible that a, quote, real business growth cycle is right there in front of us for the next four or five or six years. >> david rubenstein also sees the economy full speed ahead he said a slowdown will happen at some point but he doesn't see signs of it this year or next. howard marks of oaktree says we're about in the eighth inning but he noted the economy is not baseball and we don't kn

with larry kudlow giving one view from the white house on where trade stands this morning we start things off with wilbur ross and peter navarro. different views. the president said he likes to hear different views on a variety of issues. in two days right here on cnbc on "squawk box," you will hear from all sides of the administration on what's happening in trade, which may be the most important issue facing wall street. >> larry was great yesterday i have to say, they should put him in at the very beginning of the administration he's so optimistic give him -- you ask him, well, you're a free trader, what do you think? the way he sort of takes his position, but then is able to say, you know, this needed to be done i agree with that but with these qualifiers, don't get too pessimistic about it we'll see what happens about other guests should be great. >> we are looking forward to it. we'll talk to joe throughout the morning. before we get to these, let's check the markets. yesterday another strong day for both the dow and the s&p 500 you are looking at the dow on its longest winnin

, so they acted accordingly. larry kudlow was asked whether or not this was a one-off? >> i don't believe so and, you know, how people work ahead of tariffs remains to be seen. my thinking is that is going to even out over time. look, we're making progress on fixing the broken world trading system. reporter: kudlow also telling me earlier today that he feels the new eu trade arrangement with soybeans will make up for any potential difference. the white house said those two spoke earlier, president trump and president of the your mean commission, juncker spoke on the phone and had continued to discussion on u.s., eu trade cooperation. no details were provided whether the two struck anymore details. cheryl: we need more details in another conversation. blake burman live from the white house. adam: we'll talk about the details we know right now on the ground. paul avansano, michelle girard. welcome to you both. michelle, let me start with you. the gdp number, clearly a good number. is it sustainable? a lot of people asking about that. the second part of question, soybeans. critics sa

, decades. and i think the most important thing, and larry kudlow just confirmed to me along with kevin hastert that these numbers are very, very sustainable. this isn't a one-time shot. i happen to think we're going to do extraordinarily well in our next report next quarter. i think it's going to be outstanding. i won't go too strong because then if it's not quite as good, you'll not let me forget it, but i think the numbers will be outstanding. we've accomplished an economic turn-around of historic proportions. when i came into office, 1.5 million fewer prime age americans were working than eight years before. we had lost almost 200,000 manufacturing jobs under the previous administration and you all know they say, well, you have to lose manufacturing jobs, it will get worse and worse. manufacturing jobs are obsolete. no, they're not obsolete, they're the greatest jobs we have. more than 10 million additional americans had been added to food stamps in past years. but we've turned it all around. once again, we are the economic envy of the entire world. when i meet the leaders of

his advisers, even with the g7 and larry kudlow, frequently taking a big piece of it. he clearly isn't prepped for this meeting. putin really is. the first 90 minutes, it's just the two of them. he's going to bring up russian interference. what is he going to say? we know what trump's thinking about, hey, to the extent this guy was involved, he was supporting me, going after the dnc, hillary clinton. is he going to mention that? that's one of the reasons. that's a really unprecedent esidt be in. >> it looks like -- >> apparently we have the two presidents sitting down and we'll now go to them. [ indiscernible ] [ speaking nonenglish ] [ indiscernible ] >> and -- detail about electorals brelectoral s --mber. nkyou. >> thank thank youy much. well, first of all, mr. president, i'd like to congratulate you on a really great world cup, one of the best ever from what everybody tells me, one of the best ever, and also for your team itself doing so well. >> i watched quite a bit in the united states. we call it soccer. i watched quite a bit ofd semin spectacular games, but it was beautif

lap. >> team trump including white house economic adviser larry kudlow want you to believe trump has rescued the economy. has he? our guests are back with me. okay, ms. tara, business lady, the economy was terrible when it was under -- this is four, john harwood treating the strong 4.1% growth touted by trump on fixing the economy, it ranks fifth to what happened under obama. >> trump, magic magician, sourc sourcerer. once again, lying. we're laughing, u be in fairness to the seriousness of what he's doing, it is again gaslight iin. we cannot let that go. what trump understands is the value of the headline. he knows there's a large portion of the population that's very busy that's only going to see the headline and they're not going to read below the headline which is why it's so important that democrats strategically push back. trump inherited a good economy. president obama inherited an economy losing 800,000 jobs a month. he's basically riding the natural tra jekt arjectortrajecp is riding of obama's economy. >> what's interesting, michelle, you have this sort of thinking that the

to the president's top economic advisor, larry kudlow. >>> plus the government warning about a possible social media challenge. >>> but first here's today's eye opener at 8:00. >>> secretly recorded audiotapes are released. >> they thought about paying to continue this catch and kill and get the rights to carry the story might not be illegal, but it certainly smacks of something we don't like. >>> a heavy layer of smoke has been blanketi ining the park foe last week and that's forcing the closure of the yosemite valley for the first time in 30 years. >> tariffs on soybeans like this as the prices down about $2 a bush shell. f >>> know vnovato is in stable condition but she's relapsed in april and may. >>> walking around a planet fitness gym completely naked and he defended himself by telling officers he thought it was a judgment free zone because that's the gym's motto. on the bright side, the rest of the gym members got some great cardior running out of the building. >>> no judgment here. i'm gail king with john dickerson and norah o'donnell. president trump is blasting his lo

years, decades. and i think the most important thing and larry kudlow just confirmed to me along with kevin, that these numbers are very, very sustainable. this isn't a one time shot. i happen to think we're going to do extraordinarily well in our next report next quarter. i think it's going to be outstanding. i won't go too strong because then if it's not quite as good you'll not let me forget it. but i think the numbers are going to be outstanding. we've accomplished an economic turn around of historic proportion. when i came into office 1.5 million fewer prime age americans were working than eight years before. we had lost almost 200,000 manufacturing jobs under the previous administration, and you all know they say, well, you have to lose manufacturing jobs. it'll get worse and worse. manufacturing jobs are obsolete. no, they're not obsolete. they're the greatest jobs we have. more than 10 million additional americans had been added to food stamps in past years, but we've turned it all around. once again we are the economic envy of the entire world. when i meet the leaders of coun

appropriate. now as i've told larry kudlow a number of times our farmers want trade not aid. we have good secure long term markets. they're very hard to replace if you ever lose them. while we support the goal please be careful and keep the farmer in mind because the farmer doesn't have the luxury of for example, an oil worker, an oil company can cap a well and the oil is still there. reporter: the congressman joining dozens of other companies here today arguing against these potential $16 billion additional tariffs that the president is considering in chinese imports specifically targeting machinery and plastics. i talked to several company executives that tell me even though these tariffs are hopefully short term, they could still do a lot of damage to the industry in the long term. >> the problem is that once investment is moved outside the u.s. , these supply chains take a long time to build and how do you get the investment back in the u.s.? right now, we have the momentum going with a strong and competitive industry and investment is coming back into the u.s. and what the tarif

pompeo, john bolton and larry kudlow in the white house — these are very seasoned veterans of the previous administration. let's stick with the notion that all of these, you would characterise them as reasonable people, work happily with him. number one, we know that doesn't last very long, the churn of senior staff from the cabinet in the white house is extraordinary and also — number two — on one of these signature issues, protectionism and putting up tariffs and barriers to internationalfree trade, he has lost the support of key members of the republican party, of key members of the leading business communities in the united states and even some of the most important donors to the republican party. these people, all of them, they say "mr president, protectionism is the wrong way to go." i disagree with the general protective tariffs but i do believe where there is an inequity, we should argue against it, fight against it and maybe put on reciprocal tariffs, certainly if a country is putting tariffs on your country's products and they want free trade when it comes to them im

. >> spin. >> seth: larry kudlow, the chief economic advisor, he came on your show and he basically said, justin trudeau stabbed donald trump in the back. and the worst part about it was that he weakened donald trump before his summit -- >> yeah. >> seth: with kim jong-un. what is it like to watch that take form in real-time on your show? >> well, it's just fascinating because, obviously, we all saw the g7 blow up the way it did. and president trump on air force one firing off his tweets, removing the united states from a -- from a communique. >> seth: yeah. >> as one does. >> seth: yeah. >> and there really hadn't been any explanation about why it was. and so larry kudlow came on the show. and i didn't know what they were gonna say. i legitimate -- usually, you have an idea of what they're going to say. but this was -- the birth of the spin. and, obviously, it was coordinated because they were saying it at the same time on other channels with different guests. but the birth of the spin, that this was -- justin trudeau's fault. >> seth: yeah. >> and, it so offended donald trump. >>

tensions and the chinese needing to keep their face in the midst of all of this? well, i heard larry kudlow say that today and that is clinical posturing. there may be rumors around washington that there -- around washington. ohere are back channels t china. the president is mercuriual. the president you saying he will up the ante. on,ther it was turmp or clint i thought the time had come to challenge china. was not necessarily it all the voices are in chorus. do you think that the advisor to sees the says it possible when it goes into what this was? think you can get bipartisan support for sensible and strategic policy would china and the complex comes with the administration declaring a trade war with most of the entire trading war, mexico, europe, japan, and what they are nervous about, including the republicans, is the evocation theyational security and economicing with this issue. they would oppose. >> we are seeing different channels and different avenues and to whatn degree do you think that the deal will shield them with what is happening coming through the united states, in

under president obama the economy grew at a 5.2% rate. larry kudlow, director of the economic council, this morning painting a bright economic picture ahead. >> this is a boom that will be are -- will be sustainable. frankly, as far as the eye can see. this is no one-shot effort. liz: farce the eye can -- as far as the eye can see. to the floor show, we're joined by former congressional budget office director douglas holtz-eakin and our traders at the new york stock exchange and the cme group. doug, i want to start with you. on the surface 4.1% looks like a very welcome number. i'm sure you would agree. but can you dig a little deeper with your trained economic eye and tell people what you see that might be problematicking, that might be a reason behind the markets not jumping here? >> well, i think if you look inside, it's a solid report. i mean, there were concerns that it would be driven by one-time factors like soybeans or inventories. on balance that's not true. net exports bumped up, inventories bumped down. the core spending is housing and business spending, that looks