Deirdre Bolton

RUSH TRANSCRIPT Gaining more ░░░░░░░░ than we thought in ░░░░░░░░ prior months Just as ░░░░░░░░ is looking at a ░░░░░░░░ tax on hundreds of ░░░░░░░░ made products this tit ░░░░░░░░ tat is getting worse ░░░░░░░░ re all over it ░░░░░░░░ Deidra Bolton with the ░░░░░░░░ and Blake Burman at ░░░░░░░░ White House for the ░░░░░░░░ and his party We ░░░░░░░░ with Deidra Hi Neil ░░░░░░░░ dallio runs bridge water ░░░░░░░░ 122 billion fund one ░░░░░░░░ the largest in the ░░░░░░░░ He tweeted this earlier ░░░░░░░░ is the first day ░░░░░░░░ the war with China ░░░░░░░░ just put War So ░░░░░░░░ U S And China ░░░░░░░░ about 34 billion on ░░░░░░░░ others products The U ░░░░░░░░ Placed tariffs on products ░░░░░░░░ China China placed about ░░░░░░░░ U S Products under ░░░░░░░░ Here s the former ░░░░░░░░ for strawberries and lobsters ░░░░░░░░ current ones and what ░░░░░░░░ people have to pay ░░░░░░░░ could get them for ░░░░░░░░ 69 a pound Now ░░░░░░░░ 36 a pound So ░░░░░░░░ consumables a big part ░░░░░░░░ what China is in ░░░░░░░░ taxing The auto industry ░░░░░░░░ the cross hairs China ░░░░░░░░ a 25 levy on ░░░░░░░░ S Made cars The ░░░░░░░░ is that the supply ░░░░░░░░ for autos is so ░░░░░░░░ so international For example ░░░░░░░░ s luxury automaker BMW ░░░░░░░░ a huge manufacturing plant ░░░░░░░░ South Carolina BMW s ░░░░░░░░ quarters is in Germany ░░░░░░░░ much manufacturing is done ░░░░░░░░ in the U S ░░░░░░░░ says with China s ░░░░░░░░ they can unable to ░░░░░░░░ absorb the Chinese models ░░░░░░░░ ll have to raise ░░░░░░░░ on the ones put ░░░░░░░░ in the U S ░░░░░░░░ putting out a statement ░░░░░░░░ well saying for the ░░░░░░░░ it s not going ░░░░░░░░ be hiking prices Ford ░░░░░░░░ Lincoln models are popular ░░░░░░░░ China It seems that ░░░░░░░░ will eat the difference ░░░░░░░░ the moment Automakers are ░░░░░░░░ dealing with steel and ░░░░░░░░ tariffs in the U ░░░░░░░░ So they face this ░░░░░░░░ that the president may ░░░░░░░░ tariffs up to 25 ░░░░░░░░ vehicles I m pocketed ░░░░░░░░ the EU That is ░░░░░░░░ in conversation If you ░░░░░░░░ an automaker right now ░░░░░░░░ face a great deal ░░░░░░░░ potential disruption Neil Neil ░░░░░░░░ a lot of their ░░░░░░░░ and concern the White ░░░░░░░░ happily in the middle ░░░░░░░░ this and saying that ░░░░░░░░ term everything will work ░░░░░░░░ and they will be ░░░░░░░░ right Blake Burman is ░░░░░░░░ with the very latest ░░░░░░░░ Blake We re at ░░░░░░░░ White House with Kevin ░░░░░░░░ He said that President ░░░░░░░░ won t back down ░░░░░░░░ said that the president ░░░░░░░░ he s said simply ░░░░░░░░ to equal out the ░░░░░░░░ imbalance Listen here Right ░░░░░░░░ he s called the ░░░░░░░░ of other countries that ░░░░░░░░ basically been abusing our ░░░░░░░░ and workers for a ░░░░░░░░ time He wants better ░░░░░░░░ If you re worried ░░░░░░░░ the short run stress ░░░░░░░░ long goal is a ░░░░░░░░ one The Chinese fired ░░░░░░░░ in the immediate minutes ░░░░░░░░ the U S Putting ░░░░░░░░ the 34 billion in ░░░░░░░░ by imagining it dollar ░░░░░░░░ dollar A commerce spokesperson ░░░░░░░░ they had to address ░░░░░░░░ what are counter attacks ░░░░░░░░ fired off this statement ░░░░░░░░ the United States violated ░░░░░░░░ wto rules and launched ░░░░░░░░ largest trade war in ░░░░░░░░ history to date That ░░░░░░░░ their take Last night ░░░░░░░░ his rally in Montana ░░░░░░░░ Trump said that he ░░░░░░░░ that the U S ░░░░░░░░ holding all the cards ░░░░░░░░ this equation The president ░░░░░░░░ reporters a board air ░░░░░░░░ one that more could ░░░░░░░░ coming down the line ░░░░░░░░ president saying and I ░░░░░░░░ as you know we ░░░░░░░░ 200 billion and then ░░░░░░░░ that we have 300 ░░░░░░░░ in abeyance We have ░░░░░░░░ plus 200 and also ░░░░░░░░ That s 50 billion ░░░░░░░░ the president is referring ░░░░░░░░ the 54 billion that ░░░░░░░░ into effect at mid ░░░░░░░░ and an additional did ░░░░░░░░ bill that is likely ░░░░░░░░ go into effect next ░░░░░░░░ that is for the ░░░░░░░░ Administration the U S ░░░░░░░░ that China needs to ░░░░░░░░ its theft of intellectual ░░░░░░░░ Neil Neil On we ░░░░░░░░ Blake Burman thanks very ░░░░░░░░ Normally this would be ░░░░░░░░ worry to the markets ░░░░░░░░ the economy Did not ░░░░░░░░ today to be a ░░░░░░░░ to either especially given ░░░░░░░░ economic news and surprisingly ░░░░░░░░ unemployment report that was ░░░░░░░░ or jobs report Better ░░░░░░░░ 200 000 Americans finding ░░░░░░░░ in the month of ░░░░░░░░ There were some details ░░░░░░░░ that record that were ░░░░░░░░ strong and pointed to ░░░░░░░░ continued strength that the ░░░░░░░░ says gives us the ░░░░░░░░ in any trade fight ░░░░░░░░ Vaughn is here to ░░░░░░░░ it down Hi Hillary ░░░░░░░░ president is celebrating this ░░░░░░░░ jobs report tweeting jobs ░░░░░░░░ jobs The economy is ░░░░░░░░ the longest job creating ░░░░░░░░ ever Last month the ░░░░░░░░ S Continued their historic ░░░░░░░░ gaining more jobs In ░░░░░░░░ the U S Added ░░░░░░░░ 000 jobs beating what ░░░░░░░░ expected by 13 000 ░░░░░░░░ Here s the industries ░░░░░░░░ the most growth Health ░░░░░░░░ education adding 54 000 ░░░░░░░░ with 36 000 jobs ░░░░░░░░ hospitality an extra 25 ░░░░░░░░ jobs Wages stayed flat ░░░░░░░░ 2 Part of that ░░░░░░░░ because college grads and ░░░░░░░░ are taking up most ░░░░░░░░ the job openings A ░░░░░░░░ of younger workers being ░░░░░░░░ They re entry level ░░░░░░░░ that don t pay ░░░░░░░░ much That s tugging ░░░░░░░░ the average Unemployment up ░░░░░░░░ that s a number ░░░░░░░░ don t want to ░░░░░░░░ go up but just ░░░░░░░░ by a small margin ░░░░░░░░ What we re seeing ░░░░░░░░ more people joining the ░░░░░░░░ hunt Over 600 000 ░░░░░░░░ started looking for a ░░░░░░░░ in June Not everyone ░░░░░░░░ found a job yet ░░░░░░░░ is why you see ░░░░░░░░ unemployment rate slightly up ░░░░░░░░ It s interesting too ░░░░░░░░ prior months shows sustainable ░░░░░░░░ gains here The 600 ░░░░░░░░ dipping their toes in ░░░░░░░░ water looking for new ░░░░░░░░ Hillary Vaughn thank you ░░░░░░░░ you Neil Markets are ░░░░░░░░ today responding to this ░░░░░░░░ had been stronger We ░░░░░░░░ up double that what ░░░░░░░░ were which in the ░░░░░░░░ of a trade war ░░░░░░░░ weird especially when it ░░░░░░░░ like we and the ░░░░░░░░ will be back and ░░░░░░░░ on this Let s ░░░░░░░░ the read why the ░░░░░░░░ responded the way they ░░░░░░░░ Sarge start with you ░░░░░░░░ s get your take ░░░░░░░░ did the markets respond ░░░░░░░░ For one we have ░░░░░░░░ hot economy here I ░░░░░░░░ sure you noticed the ░░░░░░░░ numbers But two we ░░░░░░░░ China by the short ░░░░░░░░ They have industrial production ░░░░░░░░ the hole Fixed asset ░░░░░░░░ in the hole Shanghai ░░░░░░░░ down 17 year to ░░░░░░░░ We got these guys ░░░░░░░░ we want them They ░░░░░░░░ 118 trillion of U ░░░░░░░░ Debt Guess what that ░░░░░░░░ If they don t ░░░░░░░░ our stuff it hurts ░░░░░░░░ They re in a ░░░░░░░░ If they want to ░░░░░░░░ tit for tat with ░░░░░░░░ guess what They run ░░░░░░░░ of ammo sooner than ░░░░░░░░ do We know that ░░░░░░░░ got them and we ░░░░░░░░ going to win this ░░░░░░░░ say you can t ░░░░░░░░ a trade war Okay ░░░░░░░░ hurt short term Give ░░░░░░░░ six months We ll ░░░░░░░░ volatility but we re ░░░░░░░░ to win it By ░░░░░░░░ end of the year ░░░░░░░░ have capitulation from China ░░░░░░░░ and Mexico Neil We ░░░░░░░░ I don t know ░░░░░░░░ one is yet won ░░░░░░░░ trade war in history ░░░░░░░░ guess it s who ░░░░░░░░ hurt the least I ░░░░░░░░ worried that we unleashed ░░░░░░░░ that will grow worldwide ░░░░░░░░ started with aluminum and ░░░░░░░░ and now it s ░░░░░░░░ hundreds of different products ░░░░░░░░ do you make There ░░░░░░░░ no way it doesn ░░░░░░░░ spread Whether it can ░░░░░░░░ won or not I ░░░░░░░░ t feel there s ░░░░░░░░ winner in any trade ░░░░░░░░ The end game is ░░░░░░░░ global economic growth Whether ░░░░░░░░ can outlast China or ░░░░░░░░ depends on the mid ░░░░░░░░ more than anything President ░░░░░░░░ has some good fire ░░░░░░░░ hide behind with this ░░░░░░░░ good perfect nonfarm payroll ░░░░░░░░ It s a good ░░░░░░░░ I d rather see ░░░░░░░░ You look at the ░░░░░░░░ Now going into Canada ░░░░░░░░ is getting this cheap ░░░░░░░░ What are they do ░░░░░░░░ building a pipeline to ░░░░░░░░ pacific trying to bypass ░░░░░░░░ Gulf Coast Depends on ░░░░░░░░ this shakes out You ░░░░░░░░ Germany These things spread ░░░░░░░░ s the spreading that ░░░░░░░░ can t control It ░░░░░░░░ not just the 500 ░░░░░░░░ that we have with ░░░░░░░░ Lindsey how do you ░░░░░░░░ this going I know ░░░░░░░░ lot depends on how ░░░░░░░░ proceeds how much it ░░░░░░░░ out whether someone pulling ░░░░░░░░ unexpected stunt What do ░░░░░░░░ think?