angry at us among our colleagues there and they want to know why it is we're
targeting them and treating that more roughly than we are China but Lisa
suffice it to say that this is already prompted a very nasty phone call between
our president and the leader of Canada and now there talks about him wanting to
bilateral negotiations not only with the leader of Canada but while he's out at
the leader of France and this of course before the big summit with the North
Koreans let's just say a double powwow FB ends blake berman at the white house
with what we can expect this is going to be an interesting opening act my friend
the g7 getting into more interesting by the day neil who would have thunk it
right president Trump's set to go to Canada later this week for the g7
meetings trade will loom incredibly large over this one and now we know of
two different bilateral meetings that will take place president Trump set to
meet with the French president Emmanuel macron and the Prime Minister of Canada
the host nation for this one Justin Trudeau I'm told that a phone call
between the president and the French leader that they had recently could be
described as tough and there is a separate report out this morning that
describes the latest phone call between Trudeau and the President as testy now
briefing reporters over here at the White House earlier today ahead of the
g7 summit the president's top economic adviser Larry Kudlow he tried to
downplay some of these trade tensions the meeting of the finance ministers as
you know Neil last week got contentious enough to where some refer to it as the
g6 plus one as in the u.s. being the outlier but Kudlow like in the current
environment too just one big family that right now is kind of sort of just having
a moment we're talking everything through there may be disagreements I
regard this as much like a family quarrel I'm always
the optimist I believe it can be worked out but you know and I'm always hopeful
on that point markets appear to have liked those comments by the way Kudlow
also talked about what is happening with China saying that right now there is not
a deal in place on ZTE that both sides agree on and he says currently at this
moment meal there is not a specific trade deal in place with the Chinese
meal alright my friend thank you very very much so here's where we stand right
now on this back and forth over trade again this is courtesy of our friends
right now the Mexican saying they're gonna bring promising tariffs of their
Rome on a host of goods like pork and cheese and bourbon and produce the
Canadians getting ready with tariffs they say are inevitable because the
administration won't be flexible to Europeans through the EU saying that
they're looking on a slate of a terrace on on a host of goods that will cover
potentially up to three dozen different items billions of dollars worth of us
goods but if this was supposed to dissuade traders and make them think a
trade war was coming I'm going to allenham that's good I want you to take
a peek at this does this look like a market that's worried up better than 346
points 25 thousand 146 on the Dow and most of the those folks seem to be
thinking that this too shall pass will it let's get the read from Fox Business
Network so Ashley Webster former Clinton strategist mark pan and Fox Business
networks Charlie guess ferrino so Ashley it would seem at first blush looking at
that that one of the things that's going on here is calm down everyone this too
shall pass it will you know what Larry Kudlow should change his last name to
Larry Kudlow downplayed because every time we hear from him that's what he's
doing downplaying the latest spat I think it's interesting that conversation
with the with the Canadians is something that's absolutely upset the Europeans as
well Neil the justification for this fight back if you like from the United
States based on national security issues what's interesting is when you look back
at that issue Peter Navarro said let's put it this way
another economic adviser to the president he said there's not one single
company in the United States that can produce flat panel displays that are
used in military aircraft and things like night vision goggles he said that
is example of how the trade imbalance has
impacted us so much that even a national security item like that has to be
produced elsewhere in the world and that is an example of that imbalance as for
the Canadians and the Mexicans I think and after I think the market is
absolutely looking at this as this will get passed this was all part of the
negotiation eventually we'll have some common ground but it's a very
interesting process on how we get there from here it's going to be more more
headlines more rhetoric for sure I'm Charles Payne and my apologies jobs for
misidentifying you know Gabrielle always does that but let me get your sense
charles of what what is really going on here if the markets were where to
thought this was gonna happen they'd be selling off they're not and this has
been much the case even with the tit-for-tat with the chinese so is it
your sense that no blows will come to pass here and that the president will
get concessions he got the first hint of that from the chinese late yesterday
offering to buy 70 or so billion dollars worth of i think it was our geography
litems but your thoughts well I think a yeah the the market certainly sense that
President Trump is is going to get something huge here remember that the
status quo is what we've lived for what's forever so those are your options
the status quo we keep getting ripped off or we finally get a deal that opens
up markets around the world and treats American businesses fairly but I got to
say I think the big problem there is the media and particularly the financial
media I don't you know the talk of fear fear fear let me give you an example
yesterday the Business Roundtable comes out with their second quarter numbers
and a couple headline stood out to me Trump's trade policy a fly in the
ointment that could end the economic recovery that was from CNBC CEO scaling
back hiring and spending because a trade fair CNN well this is what happened
employment hiring plans just fill up a hundred sixteen percent from 2016 and up
36 percent from last year capital expenditures of twenty three percent
from a year ago up 56 percent from two years ago
so I gotta tell you even the elitists of the world are still enjoying this
economy and plan on investing and plan on hiring so I'd love to separate the
headlines from reality because we're in a hot economy and now the markets
reflecting that I'm wondering to mark rounded that so
really going on here that the undercurrents are pretty sound and the
words notwithstanding that's what's doing it I mean it would carried Bill
Clinton through a lot of difficult days in the end a strong economy a resurgent
market and then many seem to think it will repeat itself here do you buy that
well that's right 68% of Americans in the last Harvard caps Harris Poll say
the economy is strong and when we asked them 61 percent said they support using
tariffs as a negotiating tactic to get better trade deals
although 64% were worried about whether or not we'd have a trade war so
essentially the public is well we understand now what President Trump does
whether he's successful or causes a trade mess well we'll judge that on what
the outcome what the outcome is and remember from a democratic perspective
Democrats need to win back the working-class voters these tariffs go
right to the sweet spot of Indiana through Pennsylvania and so it's
important that Democrats try to win those voters back and not let the
president get the edge by appearing to do something for them that others were
not willing to do then again all bets are off right Ashley
if it will be sudden those times do go in fact that those same voters they're
paying a lot more for goods or in the case of armors getting a lot less with
their goods well i knows tax reforms and the more money in your pocket goes out
the window because consumers are gonna end up paying more because of the
because of the extra tariffs that i don't think will happen certainly it's a
threat that's hanging over us but certainly the market doesn't believe
that's going to happen and I think people take pride in the fact that since
1975 we the United States have always had the world's largest trade deficit
and nothing's ever been done about it we're pride but prideful now that we're
finally firing back in a trade war that's gone on for decades China joined
the WTO in 2001 the first thing they said was we're going to open up our
markets to the United States in the world guess what
still waiting you know this g7 conference Charles Payne is going to be
the one to watch ahead of the one that everyone else is preferring to watch I
think yeah you might be right there here's the interesting thing the stock
market peaked and January 26 when was that
that's when President Trump went to Davos
it would be one of those rich billionaire confab that the average
person would never care about the g7 probably could end up the same way
bombastic you know Trump's gonna go in there like a superstar with all the
swagger and we might get some deals done finally instead of the meeting to and
agreeing to meet again which they normally do all right guys I want to
thank you all very very much again those are the g7 attendees here they're all
our friends so you would think we need our friends while we prepare for that
meeting with the North Koreans why defense secretary James Madison outline
very very carefully the read from the US ambassador to NATO kay Bailey Hutchison
after this will the trade war have a have an impact effect on the security
relationship right now I don't see that we're looking for a reciprocal trade so
along the path going there certainly it would be a little rocky a little bumpy
at times that's so far I do not anticipate any
here at the arena alright that's the read for the Defense Secretary uh is
that something of kay Bailey Hutchison agrees with our US ambassador to NATO
ambassador thank you for taking the time is it your sense to that this will not
boomerang on us the trade tensions between a lot of our allies hurting our
security relations you know Neil in a group of 29 countries there are a lot of
disagreements on a bilateral basis there are disagreements within NATO on how we
do things but there is no disagreement on our goal our common goal of a
security umbrella for all 29 of us and I think the professional diplomats here
are very good and they do not bring up bilateral disputes or disagreements that
they may have we have good relationships with all of the other ambassadors and
we're able to talk through things so I feel very good about NATO staying very
United and together unity is the most important thing that we have and we do
have it so there aren't any of the concerns or as many as it were about
looked at everyone footing the bill or putting up at least the 2% toward you
know NATO and defenses that was in doubt a little more than a year and a half ago
you know I think that what President Trump has done is really made a big
point and he's made it publicly and countries are coming through every NATO
ally really in 2016 did not increase spending but as of
today every NATO ally is increasing their own defense spending and in 2018
when the numbers are finished we'll have the largest increase in defense spending
by our NATO countries outside of the United States since the Cold War so I
think that we are going in the right direction
everyone is trying hard there are differences I mean look at Italy they've
had trouble forming a government Germany took several months to form a government
after elections so you have delays that and then you don't get budgets so I
think we are going in the right direction do we have more to do you bet
we do because we want the 2% to represent not just a number out there
but the amount that we need to have a significant deterrence against a real
enemy and that's what it came up in the Wales summit the number was 2% 2% is not
too much to pay for the security and freedom of your people and that's what
NATO believes and that's what we're going to achieve and we're going to do
it in good order I'm back to this trade tip whatever you want to call it
ambassador some are worried that it could escalate nothing is in place now
and Americans certainly don't see it yet and nor do foreigners that this could
come to fruition but if it does the president has long argued that these are
as much about our national security efforts as they are economic desire is
that they intertwine do you believe that I do think that the the tariffs are
certainly an issue I'm not going to say it's not something that people are
concerned about what we want is to solve the problem we want fair and level
playing fields we're talking now about EU cooperation and they're forming a new
Defense Initiative pesco we want to make sure that there is access to outside EU
countries to be able to bid on defense projects in NATO
just like we allow from the United States let me just tell you that
last year the Department of Defense spent over a billion dollars with
foreign allies buying their products for our defense purposes so we want that
same level playing field with EU countries when they're going out for a
procurement we want to do things together we can compete but we also want
the best products for our overall security and that's what we're trying to
get are you concerned and answered I know you have to play this diplomatic
layout given what you have to do as our liaison certainly with NATO but but this
is coming at a time in this dust-up with some of our allies and our friends when
we have to deal the Chinese and have to deal with the North Koreans and that we
could be alienating them at a time we really need them do you worry about that
you know I think every relationship has so many facets and there are there are
things that we have for instance we talked about Germany not meeting the two
percent but we have 300,000 troops in Germany what it may not be 300,000 I
think I misspoke it's 35,000 but it's that's something that's very important
in our bilateral relationship and we want Germany to do more but we respect
that they are doing a lot in Afghanistan there one of the framework nations in
Afghanistan so we want them to meet the two percent but there are other factors
all of these relationships are intertwined so yes there is certainly
some disagreement about the terrorists there's no question about that but what
what I think is the purpose here is to try to get a more even trade
relationship and have a true alliance at NATO
that does have some of our allies who haven't put up as much as they could
while they are giving in other areas to be helpful so we have to balance all of
this we cannot step back on the 2% that is what we need for the overall big
picture security but we know that many allies are also putting troops on the
ground advising in Afghanistan and we're working with the Iraqis as well for
advising them on how to get Isis out of their country and stabilize their
country so we're doing many things in different areas and we have to factor
all of that in indeed and that's sort of thank you very much for taking the time
I appreciate it hey thank you me all right at this
intersection between our national security economic security is also being
way to the United States Senate by Republicans many of them that said you
know what before you do any of this mr. president you might want to check with
us in fact one better you might want to wait for us to approve or disapprove
after this
you
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