tv After the Bell FOX Business July 8, 2019 4:00pm-5:00pm EDT
liz: thank you. by the way, same exact winning show. josh, good luck with the book, retirement reality check. [closing bell rings] there go the closing bells ringing. that will do it for the "claman countdown". connell: we have rate cut concerns. we'll talk about rate cut concerns and maybe few other things. the dow is lower by 114 points. that is two days in a row to the downside. subpoena 500 and nasdaq in the red today after the record highs of wednesday which seems like a long time ago. good to be here on monday, i'm connell mcshane. melissa: we had a fantastic jobs report. i'm melissa francis. this is "after the bell." we'll have more on the big market movers but here is what is new at this hour. president trump delivering remarks at the white house. the president touting his administration's record on the environment, defying critics who are taking aim at his efforts to
slash regulations and back out of global efforts to fight climate change. we have breaking headlines from president trump. you see him right there. plus a second earthquake rocking california. experts are warning about months of after of aftershocks as resit brave the front. wee await arrival u.s. women's cup champions. the u.s. women's soccer team, as their win on the u.s. stage sparking a new revolution. connell: blake burman is at the white house for us. deirdre bolton at new york stock exchange. dan springer out in seattle. with the president speaking as we speak, blake, let's start with you. reporter: connell, president trump is in the east room giving a speech on the environment touting gains made in the u.s., not only the last couple years during his administration but
years and decades past. the president also talking about how he sees protecting the environment, balancing that out with a thriving economy though there are questions you who much credit the trump administration should take with this with the environment. the p personally withdrew the united states from, for example, the paris climate accord. another agreement the president withdrew us from the iran nuclear deal came to the forefront. iran moved past the 3.6% level which rain july can be enriched. that is a cornerstone of that deal. earlier today vice president mike pence delivered the first reaction from the administration. watch. >> iran should not confuse american restraint with a lack of american resolve. [applause] we hope for the best but the united states of america and our military are prepared, to protect our interests and
protect our personnel and our citizens in the region. we will continue to oppose iran's maligned influence. we will continue to bring pressure on their economy. under president donald trump, america will never allow iran to obtain a nuclear weapon. [cheers and applause] reporter: meantime there is relative silence across the government as it relates to labor secretary alex acosta rather. he was the u.s. attorney in miami a decade ago that oversaw the non-prosecution agreement for jeffrey epstein. that non-prosecution agreement widely seen as a sweetheart deal as it has been called. no comment from the white house. the labor department, we reached out to them. they are referring comment to the department of justice who also didn't comment as it relates to acosta. the southern district of new york announced a new federal charges against epstein. connell: more on that later an.
blake burman at the white house. melissa: shares closing lower after losing an order to airbus. deirdre bolton with more. >> this is pretty costly for boeing. really the first sign that those two deadly crashes that happened within five months of one another are going to affect boeing's business over multiple years and billions of dollars. one discount saudi arabian airline, flyadeal, just ordered 50 planes from boeing's main competitor airbus. this deal is worth five 1/2 billion dollars and the saudi company secured this with airbus at the paris airshow. we are waiting of course, boeing is very much waiting for its 737 maxes to be ready to fly. latest i heard from our sources they are hoping to be back in the air by september. meantime this freezing period is allowing airbus to get ahead. i would be remiss if i didn't
point out british airways ordered new planes from boeing as well at the paris airshow. boeing not completely out of running, taking some competitive knocks, due to problems with the 737 max. i want to call your attention to apple too because this is a stock that is weighing so heavily on the dow. it is closing lower. looks to be 1 1/2, 2%. rosen blatt downgrading stock from neutral to sell. they kept the price target the same on the stock at 150 per share but they talk about deteriorating fundamentals from the next six to 12 months. they expect sales to slow for ipads. also iphones. and that was really the premise for the call. apple has been under pressure all day. tech going wit. melissa: thank you for that. connell: let's talk to the market panel. adam lashinsky, "fortune"
executive editor and danielle dimartino booth, former fed advisor. talk about the rosenblatt downgrade. times are tougher next six to 12 months. how tough are times for apple? >> they're tough. there was no news as it were, other than an analyst changing their mind. times are tough. we know iphone growth is slowing. we know they're changing their business model. so depending on the day you look at it that is a cup half full, or a cup half empty. today it is a cup half empty. they don't have the robust growth for iphones they had for so long. again not news. that is the what happens in the market. connell: the stock down 2%. danielle, more broadly it is the federal reserve is the news that seems to be driving market down. thedown down over 100 points. after the jobs report, it was strong what the fed does. we'll hear from jay powell later
in the week. what do you think we'll hear from him about? >> i think congress tomorrow and wednesday in his testimony up on the hill will ask the chairman why he thinks an insurance rate cut is justified given we're in such a strong economic environment. obviously the headline news on friday has given jay powell cover. those on the federal open market committee to back off any expectations of 50 basis point, a half a percentage point cut come july 31st. but now the questions are starting to run whether or not there might be a 25 basis point cut, insurance rate cut that powell mentioned in his last press release. given that this week is really a data vacuum. there is nothing out until the inflation data hits on thursday morning it will be all eyes on jay powell. connell: all about jay powell. danielle, adam are sticking around. melissa. melissa: preparing to ditch seattle.
they are moving employees from to downtown washington. reporter: melissa, we said at the time it is likely to happen. amazon continues to grow at an amazing rate but seems like all of the new growth is happening outside of seattle, pretty much anywhere but seattle. the company said it will eventually hire 25,000 employees in virginia, while adding workers in boston, denver, austin, texas. perhaps more than 10,000 in bellevue, washington, a large suburb of seattle. the seattle city council passed and quickly repealed an audience charging them a fee for every employee in the city. one council auld amazon's founder enemy of the city. it would have cost amazon more than $12 million a year. the rationale, amazon was driving up wages, housing prices so much it was largely responsible for seattle's
homeless problem. so it should pay to build subsidized housing for poor. a venture capitalist told the city council that they are chasing jobs away. >> amazon has been unfairly blamed for challenges that we as a region experienced, that we would have experienced regardless of amazon. reporter: amazon just issued a release showing what it has done for seattle over 25-year history. $4.5 billion in capital investment. it has paid out to employees $32 billion in wages which of course is spent locally. now the company is looking across lake washington to bellview. it announced plans for a 43 story story next to twin 15-story towers. it has five other sites under development. >> city staff met with amazon. we want to make sure that they feel welcome in bellevue. reporter: clearly amazon does feel welcome over in bellevue.
in fact bellevue is getting several thousand jobs from seattle because they're moving, the company is moving the worldwide headquarters team, their operations team from the headquarters over to bellevue when some of the office space comes online. they feel comfortable in bellevue. they are increasingly feeling uncomfortable in seattle. melissa: thank you, dan. let's bring adam and danielle back. adam, i learned learned in the t economic class you tax things you wish to discourage or discourage things when you tax. a headcount, tax employees, tax businesses for having employees, you chase those very things away, don't you. >> i've spent a lot of time in seattle and bellevue this year alone. the short answer to the question, the sin tax is not only reason you tax. you tax because you need revenue for whatever reason. those are good reasons. amazon has made a huge investment in real estate in seattle. i would guess the reason they're going all these other places has
more to do with a lack of available opportunities in seattle proper than it does any reaction to the seattle city council. $12 million, by the way, amazon hiccups $12 million on an hourly basis. melissa: that is the assumption. that's the assumption, danielle. so little money they won't even notice. that is how with the death by 1000 cuts you chase people out. when you look what happened in new york, you know they chased people out to connecticut and knew jer. but now, lo and behold, taxes there are horrible too. i wonder, one of these big cities did an about-face? what if new york slashed it is investment tax, real estate tax, income tax, and got businesses back? what if big cities started doing the reverse, wouldn't that be interesting? >> it certainly would. listen, i live in texas. obviously austin is a huge beneficiary. if you fly into dfw, i can't tell you flying over i can't
tell you how many amazon warehouses. if you make your city, your state, business-friendly state, you bring more jobs, more economic opportunity to your area. i'm surprised seattle pushed the envelope to the extent they did. sometimes jeff bezos is italian and he really holds a grudge. after the experience in new york, i would have backed off and rolled the red carpet back out. if you throw absolute numbers amazon is contributing to the seattle economy, think of indirect effects it had on the other jobs created as a result, as a result of all the wonderful amazon workers there in seattle, some who are being relocated to bellevue. melissa: thank you. connell: we have breaking news. congressman eric wall well, swalwell is announcing he is dropping out of the 2020 race for president. eric swalwell, the first democrat to end his campaign.
many saw as running in that young person's lane. he is only 38 years of age. that lane is filled with others. mayor pete buttigieg is one. now he is out of the race. melissa: one of the big distinctions, refusal to wear a tie. connell: do you think that did him in? melissa: that helped but apparently not that much. tensions arising between the united states and iran. how the u.s. is working to ensure that the nation does not insure a nuclear weapon. connell: president's approval rating during the highest level during his presidency. if the economy remains strong, should we expect the trend to last? art laffer responds, next. melissa: the champions are about to arrive at newark liberty airport. we're awaiting the arrival of the u.s. woman's soccer team. even though they won the title,
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reaching career-high approval rating of 44%. of the they point to a strong economy and job growth as the reason. we have art laffer, former reagan economic advisor. thank you for joining us. >> thank you, melissa. melissa: i hear the next headline, and everybody says in the next breath, we have recession 10 years an we're due for one. what do you say to that? >> i don't think we're right on the recession. one thing that trump's ratings are very, very high, they have risen. i don't know why they are 44%. they should be 94%. this economy is amazing. he has done a job with deregulation. he has done a job with tax cuts. he has done a job with all factors in the economy. it is an amazing performance especially given the base he inherited from the obama administration, this was no easy pull to get this economy to grow the way it has. with the market up so much, melissa, this year it, portends to be much higher growth in the future as well. so i am very pleased for the economy. i think trump deserves great
ratings for what he has done. >> president thinks the market could be a lot higher. here is what he had to say about that. >> if we had a fed that would lower interest rates we would be like a rocket ship but we're paying a lot of interest and it is unnecessary but we don't have the fed that knows what they're doing. melissa: this is kind of funny, of course before he was critical of the fed for us. >>ing the obama market, and, empirically, when you looked at it that was, low interest rates, very low rates from the fed were driving market through the obama time it, created a bigger wealth gap before invested in the market, people that weren't, that sort of thing. to hear him say that now, i don't know, what do you think about his assessment? >> well, you know i think the fed should be lowering interest rates not because he says so although he has the perfect right to say so. it is because the fed follows interest rates. it doesn't lead them. interest rates dropped very
sharply in recent months. the fed should be following suit by lowering its rates as well. that is what they have done historically. why they have broken with tradition is beyond me. when you look at the president, the fed, if i may, i've been dealing with this now for 50 years. i was in the nixon white house from 1970 to-72 as george shultz's economist. the fed has been battling the administration for. this is a classic continue ace. my view the fed shouldn't be independent. the president should have control over all tools available to make a good economy. he and the legislative branch have been elected. the fed has not been elected. a clear violation of democracy, but that having been said, i think interest rates should be lower. i think in the long run they'll will be good for the economy. melissa: art, wait a second. that is a terrifying thought to me to have the executive branch in charge of the fed. i means, you know, what if there was a group in there that wanted to raise the heck out of interest rates, or didn't understand you know, the economy
or numbers at all? we have certainly seen administrations like that, that didn't seem to have a wonderful grasp on math. i don't know that is really scary to me, art? >> well scary with you. you're completely right, bad policy is bad policy whether from an independent fed or from the executive or the legislative branch but i'll tell you back in the day it was arthur burns who was head of the fed, independent head of the fed who talked nixon, forced into nixon to doing wage and price controls for u.s. which was horrible at the time. the bad policy at bad time t caused enormous damage to the u.s. economy. he was the independent chairman of the fed. so you know, bad policies can come from both sides. the one thing that is true though, that the fed does not have any accountability to the electorate. that is really the problem. imagine if we hadn't military authority, that had a board of people, professors from princeton university determining what our sanctions should be on
iran, what military spending should be, what we should do with north korea? isn't that terrifying with no recourse whatsoever to the electorate? if you blame the guy or credit the guy with the economy, at leave give him the tools to do the job. that is what we should do with trump, give him the tools to do the job. if he doesn't do the job, that is all right. the fed, they're fine people, by the way, they're a good group of people. they're very knowledgeable. no problems with them. it is just that the fed should be under the control of the executive just like the treasury is, just like commerce is, just like the other branches are. melissa: fascinating stuff. art laffer, thank you. >> no. i'm not scaring you really, am i melissa? connell: she will be okay. >> connell, calm her down a little bit. connell: are you really scared? melissa: you know. connell: we have a lot more to come actually as we continue. one of the things we'll talk about coming up in a moment is damage in california as officials out there are working around the clock following the
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connell: billionaire investor jeffrey epstein pleading not guilty to two counts of sex trafficking and sex trafficking conspiracy. his bail hear something next monday, 15th of july. bryan llenas outside the courthouse in manhattan with the very latest. reporter: connell, jeffrey epstein about 1:15 p.m. made the first court appearance he pled not guilty to federal sex trafficking charges. our courtroom producer said two of his acausers were inside the courtroom as he pled not guilty. he looked disheveled but calm. he was not handcuffed but had on a blue prison uniform. federal prosecutors charged him
with one count of sex trafficking, one count of conspiracy to commit sex trafficking. if convicted the 66-year-old faces up to 45 years in prison of the according to prosecutors, epstein operating a sex trafficking network he paid hundreds of dollars to girls young as 14 to massage him or have sex with him. they believe there are dozens of victims. they urge any victims of epstein who stayed in his townhouse in new york or florida mansion, could tall the 1-800-fbi. >> many of the underaged girls, that epstein victimized were particularly have you beenerer vulnerable. it shocks the conscience.
reporter: there is no statute of limitations for federal sex trafficking crimes as long as they can prove that these victims were minors at the time. you know, interestingly, there were hundreds, if not thousands of photos found inside of epstein's million dollar, i'm sorry, 77 million-dollar mansion in manhattan over the weekend. these photos are said to look like they are younger women who are nude or partially nude. some were found inside of a locked safe. so that was new information that we found out today. also connell, one last thing, prosecutors are arguing that epstein is an extreme flight risk and should not be granted bail, given the fact he is extraordinarily wealthy. he has six properties around the world. he owns his own private island in the u.s. virgin islands and well-connected internationally. connell. connell: i don't understand disturbing. bryan llenas at the courthouse for us. melissa: iran announcing a new breach of the nuclear deal. where this puts relations with the united states. we have a live report from the
state department after the break. connell: china trade, china trade talks resuming this week as the trade war continues. why our next guest says tariffs are deeply damaging to america's long-term interests that is coming up. melissa: plus the women's world cup champions are about to touch down in the u.s. they will arrive at newark airport. that is what you're looking at live. we'll bring it to you as soon as it happens, stay with us. award winning design. award winning engine. the volvo xc90. the most awarded luxury suv of the century.
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connell: issuing another threat. iran announced it surpassed uranium enrichment levels. the trump administration vows to continue the maximum pressure campaign. rich edson at the state department with more. rich. reporter: connell, iranians are steadily violated the terms of the 2015 nuclear agreement. last week is violated the stockpiled uranium. state department official says iran is trying to extort the international community. quote, secretary pompeo made clear the right amount of enrichment for iran is zero. there is no reason for iran to expand its nuclear program in this ray other than to engage in brinksmanship. vice president mike pence is warning iran to roll back its nuclear program. >> let me be clear. iran should not confuse american restraint with a lack of american resolve. [applause] we hope for the best but the
united states of america and our military are prepared to protect our interests and protect our personnel and our citizens in the region. reporter: iranian officials are threatening to continue breaching the deal every 60 days until the european countries agree to help iran circumvent american sanctions. french president emmanuel macron side he spoke this weekend with iran's president trying to coordinate discussions between iran and western allies. the british government wants to work with iran, trying to get iran to return to the deal. israeli prime minister benjamin netanyahu said it is time for the european governments to leave the deal, put sanctions on iran. back to you. connell: rich edson at the state department. melissa. melissa: joining us to react, retied lieutenant colonel wood from the heritage foundation. thanks for joining us. how important do you think that the rest of the group in the deal leaves it and puts
sanctions back on? >> well, kind of points out how ridiculous the deal was to begin with. there were supposed to be these snap-back sorts of sanctions in iran breached any of those thresholds, either in quantity or quality. they're doing both. yet the europeans are trying to find ways to circumvent the sanctions that were meant to keep iran honest according to the terms of the deal. so the europeans, will act physical, military ability to do anything about it. they're trying to get themselves out of this predictment rhetorically. they are stiff-arming the trump administration with the maximum pressure approach, which appears to be working. otherwise iran wouldn't be, you know, kicking back like this, with attacks on tankers and threats of nuclear blackmail. melissa: do you think -- they say the regime is already crippling, the economy is already crippled under these current sanctions. how important is it if the europeans pile on? seems like they're being
crippled without the europeans there anyway? >> no the europeans are trying to give them a relief valve, some way to get around them, right? to ease crippling effects of the sanctions. so the europeans should join the u.s., get iran to pull back from using violence as a mechanism, fomenting attacks against israel, support to terror groups like hezbollah. supporting houthi rebels in yemen. attacks on the tankers, seeing this threat of nuclear escalation works for iran. so unless the europeans join the u.s., it is just going to incentivize iran to continue on this path. melissa: why do you think the europeans do that? >> they don't have the ability to do anything. they have allowed their military capabilities to greatly decay since the end of the cold war. their economies are really on the knife's edge anyway. so they're looking for trade opportunity with iran, buying iranian oil, selling goods and services and engineering
capabilities to iran as a market. this idea of finding ways to circumvent sanctions in place i think reveals a lot and it shows sanctions are actually the mechanism that gets iran back into a negotiating posture. instead macron and his allies are trying to find ways to get around those things. melissa: yeah. what do you think eventually happens? because the thought of them sitting down at a table, coming to an agreement where they stop their antagonistic behavior doesn't seem like a real possible outcome so where does it go from here? >> the u.s., trump administration pushing forward military capabilities, is a clear signal to iran that they shouldn't try any kind of military action f we keep them in the diplomatic, economic consultation realm that is where we want them to be at. providing relief, iran using muscular threatening sorts of actions that signals they work, that the europeans need to join
the u.s. in maintaining the economic pressure to get the mullahs in tehran to talk their way out of nuclear impasse. melissa: lieutenant colonel, thanks for joining us. appreciate your time. >> absolutely. connell: the golden state recovering after the large earthquake to hit california in 20 years. we're live from ridgecrest. >> i spoke with the governor of california helping out with the earthquakes. we'll be doing that. we're working very closely. california with the various representatives and we're making a lot of progress. that was something, that was a long time, a lot of shock, a lot of shake. we are helping out and so we're working -- ♪ fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed.
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melissa: breaking news. the world cup champions are about to arrive at newark airport. we are going to bring you live pictures of that just as soon as it happens. look, everybody is waiting there. normal flight delay. melissa: normal flight delay. connell: just like the rest of us. in california, meantime while we wait, residents are on edge after two earthquakes, more than 1000 aftershocks, after the two major earthquakes continue to rattle the state. jeff paul from fox news is in ridgecrest, california.
he joins with us the latest. jeff. reporter: yeah, folks here are very fearful of even more earthquakes and possible aftershocks. look what some people are doing because of that fear? they are setting up tents and choosing to sleep outside. they strategically placed those tents in the middle afield away from any possible falling trees or debris or homes. one woman telling us, she would rather spend the night under the stars than under a ceiling at this point. it is that fear of the next one that remains constant in this community. officials say there was somehow only a few minor injuries. psychologically the community remains very damaged. aftershocks are becoming less frequent. each time it is felt it reawakens the memories of those earthquakes. >> ptsd is a real thing. we're all sufficient hing from it right now. i'm glad you thought it was safe to sleep out in your front yard, sleep in your car. that makes me feel good, that
you had your faith in us that you can do that but i need you to get back in your house. reporter: the chief says they're now shifting from reacting to recovery. officials have been inspecting several buildings, some that were damaged, some that were possibly damaged. they urge residents if they feel unsure or unsafe, should reef out for help. we should mention this is the third day we haven't had a massive earthquake. they are hoping the community can go on without anymore. connell: thank you, jeff paul. breaking news we told you about, women's national soccer team about to arrive at newark international airport. they won their second consecutive launch of the fifa world cup they first won in 1991. the men's team has never celebrate anything like this.
they began in 1930. they have the water cannons. that is true heroes' welcome. i get that in laguardia, red carpet, water cannons. the women's team is killing knit the ratings. we like to talk about numbers around here. we had pretty good ones earlier. 19 million viewers watched the game on fox yesterday, up from the men's world cup final last year, france versus croatia. that was over 11 million viewers in the united states. with that, we'll stay on the pictures. we'll see the team come out of the plane in a minute or two. we hope we will. pa treesh that o-nowuka, senior women's forum. we have you on, patrice, this story has become bigger than sports or soccer. the fight over pay equality, even in the final yesterday in france, people were chanting, equal pay, equal pay. what is your take in all of this in terms of what this team did for payment of women athletes in
particular? >> what the women's team has done has been phenomenal. number one, they came out on top. they are number one, which is fantastic. the challenge is they are number one in women's sports. we understand women's sports historically had smaller fan bases, fewer viewers. that led to less revenue. over past couple years that is changing. that could impact compensation. connell: right. >> as we understand their compensation is tied to the revenue that is generated. when we talk about really women earning what they're worth i think that is a better slogan than this equal pay for equal work. connell: right. >> you know it, at the end of the day, a lot of us as women we determine what they make based on what we earn based on choices that we make. that is fantastic power we have. connell: couple things. number one, salaries, comparing them to men's national team, is not apples to apples. the women's term gets paid a salary. $250,000 a year, somewhere on
that. it could differ just playing soccer. men's team don't. they get paid an appears fee. their salaries are paid by the club teams. what i find interesting, patrice. we had number of prize money. fifa, governing body of soccer pays out a prize money. only $30 million on the women's side. "wall street journal" had interesting statistic on that. in the article, they said a billion people give or take watched world cup around the world on television f you use the same ratio, people watching versus prize money that 30 million should be for the women, not 300 where the men are, 112 million. it should be much higher, four times that. that seems to be a fairly convincing argument what do you think? >> i think it is convincing but again there are a lot of other factors go into pay. the prize money i do think is a separate issue here, how it is divvied out. there will be greater scrutiny, than just what happens with the
prizes. going back to the idea of compensation and pay, you know, there are a lot of other factors come into play here. i think, connell what is interesting, it is reflective of the larger workforce that we have in the united states, even in other countries where the choices that we make, particularly looking at the women's soccer team, not only do they get a salary, they have generous benefits. connell: right. >> that is what they wanted. a lot of women in the workforce choose benefits, from home, telework, medicine over higher pay structure, even riskier pay like bonus pay that men soccer team players earn. so i think when it comes to those prizes, it is interesting. i think you might see some changes in the future. but when it comes to the salary, there is so much goes into how much we earn, that a simple slogan like equal work for equal pay doesn't really capture it. connell: right. you're right, it's a little bit more complicated than that. it will be interesting to see how they do on endorsements. some do well already. alex morgan, is probably the
team's biggest star. supposedly i read in "sports illustrated" makes in the low seven figures, article i saw in total compensation. she makes far more in endorsements than in salary. we'll see if other players piggyback on that. they are bigger stars than the men's team. you would be hard-pressed to name four or five players on the men's team. patrice, good to see you. thanks for coming on. >> thank you. connell: might in a few minutes, we might see the women come back. hopefully they slept on the plane in big celebration. melissa: maybe i don't it is taking them to take off. they missed water cannon salute. they're in there waking them up. you got to get off. connell: i'm sure a long night last night. we'll be back in a few moments. ♪
melissa: searching for common ground. washington and beijing working to set up a date as soon as possible, as soon as next week, for a face-to-face meeting on trade negotiations. let's go to fox business' edward lawrence, live in washington, d.c. with the latest. edward? reporter: yeah, china's vice president today took a shot at the united states without mentioning our country. he says a major nation should promote common security through seeking common interests and we oppose the practice of protectionism in the name of national security. he made the comments to an open -- or to open the world peace forum in beijing. the chinese vice president says china is committed to opening up, to learn the advantages of other countries. the trump administration is concerned that without an enforceable trade deal in place, learning the advantages of other countries still could mean stealing technology, and that's why the u.s. and china have been through 11 rounds of face-to-face talks. a senior administration official confirms this week that a phone call will take place between
u.s. trade representative robert lighthizer and the chinese vice premier liu he. chinese experts say we will find out quickly if china comes back to the table with the concessions that they had cut out. the president going forward with the next round of tariffs that the u.s. could place on chinese imports. back to you. melissa: edward, thank you. connell: america's advantage in innovation could be in trouble, says ben harberg from msa capital where he's managing partner. we last spoke when i was in hong kong at the "wall street journal" conference. good to see you. thanks for coming in. we appreciate it. on innovation, what do you mean by that? that's always been an advantage for americans and american companies. >> the drivers of innovation to me are two things, money and human capital. it's talent. the greatest advantage of america through many, many years has been the ability to track the world's greatest minds to our university system which is
wider and deeper than anywhere else on the planet, then turning those into researchers that harness technology down at those universities and building businesses. we have created an environment now that is largely unfriendly, particularly to scientists of chinese ethnicity. a lot of scientists i spoke to reported that they had received death threats so as a result, talent is starting to take a second thought before coming to u.s. universities. connell: anecdotally when i was in china, i spoke to a lot of young people who said they still want to come to the united states to study but were worried about the environment change. you say you have spoken to people higher up on the chain who are researchers. what have you heard from them? what are they actually saying? >> there's a fear that funding might be cut off if they are seen as potentially having some links back to beijing, especially if that funding comes from the department of defense, national institutes of health, national science foundation. so they are starting to look for schools that aren't dependent on government funding in the united states, and like i said, a lot
of them received death threats in the last few months. these are individuals that have u.s. passports that have been citizens for 15, 20 years. connell: right. what would you say to people who say well, there is some national security concerns that maybe the chinese government has used people of similar profiles for other purposes over the years, and you know, something has to be done about that? is there a balance that has to be -- can be struck, or are we really, i think we may have talked about this in hong kong, are we headed in two separate directions, the so-called decoupling of the two largest economies in the world? >> to me it feels like a baby and bath water scenario where researchers that are in sciences, life sciences or other fields, not associated with national security, are also being caught up into what now feels a bit like a red scare. connell: how does that affect you? you are looking for companies to invest in and people like you are doing the same. how does that affect the environment? what changes? >> on the chinese side now, there's much more money and talent being thrown towards core
technology, so lot of emerging companies. last week i was at a conference with some leading chip manufacturers. their view was this environment has made chinese chips great again. prior to this, they didn't have any demand requirement. now they have it. connell: now they are making their own and really ramping that up. we will talk more about that. good to see you. thanks for coming in. talk to you again. >> all right. connell: melissa? melissa: well, breaking news still going on right now. the world cup champions are arriving back in the u.s. they rolled out the red carpet, set off the water cannons, did everything. i don't know, maybe there's an alarm clock missing. connell: you might have been right. couldn't wake them up, get them off the plane. it's a long flight. i'm sure it was a long night. they deserved a good celebration after that game. melissa: they just want to make us wait. that could be possible, too. connell: who is this guy, by the way? see his i.d. as he's going on. come on, get off. that's what he's telling them.
they should rest up. they will have a ticker tape parade in new york on wednesday. they will be busy. i'm headed on a plane flying to cleveland tonight. i will see you for the baseball all-star game tomorrow. look at me. david: the victorious women's soccer team, fresh off their victory overseas, coming back into the united states, newark international airport. moments ago, we saw a bunch of policemen going on board. i think they wanted some quality time by themselves with those soccer stars. as soon as they come out, we will bring those to you, bring those pictures to you live. meanwhile, we have other breaking news on the political friend. eric swalwell is now the very first democrat to bow out of the 2020 presidential race. the california congressman announcing he was bowing out this afternoon amid low polling numbers and poor fund-raising. there may be another person who is ready to jump in and take his