so in moments we can take you back to
the impeachment trial where the Senators
are submitting questions to house
managers and president Trump's legal
team but first the other big story
tonight President Trump touting new
NAFTA the u.s. Mexico Canada trade
agreement projected to generate billions
in new economic activity and create a
hundred and seventy-six thousand new
jobs for the first time in American
history we have replaced a disastrous
trade deal that rewarded outsourcing
with a truly fair and reciprocal trade
deal that will keep jobs wealth and
growth right here in America this is
something we really put our heart into
so it is a signature achievement for
this administration it was a campaign
promise it is one that Bernie Sanders
pledges that he would eliminate should
he become president despite overwhelming
bipartisan support in both the House and
the Senate ultimately for this agreement
speaker Pelosi saying today Democrats
are the ones to think here she is but
the president will be signing is quite
different from what the president sent
us and because of the work of the House
Democrats under the leadership of
Ritchie Neel with his task force and
made tremendous differences in what was
proposed originally and what the
president will be signing today joining
me now is White House economic advisor
Larry Kudlow Larry great to see you
thank you for coming in tonight just to
start with with that respond to Nancy
Pelosi she says it was all Democrats who
sort of crafted this into a better deal
you know I'm an old Reagan guy way back
when in the first term and he taught all
this when good things happen there's
plenty of credit to go around okay and
speaker Pelosi she wants kudos she can
have kudos certainly for me I think the
genius behind the deal Martha was
ambassador Bob light Heiser Robert light
who crafted the China deal principally
and crafted this deal this deal is a
template for good trade deals and
pro-growth deals but I'm I personally
I'm more than happy to give credit out
Richard Oni all they can all have credit
today it's a good day for the country
does the president feel the same way and
they weren't invited to the ceremony
where they was Nancy Pelosi invited you
no I don't know that I understand I just
don't know that I'm not taking a
position on it but I don't know what is
she doesn't tell me why you know what's
so their auto deal dairy farmers getting
their business into into Canada what was
its gonna feel like how will Americans
notice the difference once now that this
is past well I think you know you said
it a president said it look the
International Trade Commission which is
an independent body when they price this
thing out you could get as much as 1%
additional GDP growth and actually on
the jobs figure the mid-range of their
estimates was about 350,000 jobs per
year maybe as much as a hundred billion
dollars in direct foreign investment and
if I made just to tick off you sort of
have old economy new economy and both
benefitting and both are very important
you mentioned farmers big strides on
dairy farming but also wheat and some
other areas the automobile industry and
manufacturing in general we have a
little stronger domestic content rule so
jobs come back to America so now it was
at sixty two point five I believe now
seventy five percent of every car has to
be made in North America that's correct
and I think roughly 40 percent have to
have wages of about $16 an hour that's a
big plus importantly worker rights
embodied in this union worker rights
particularly regarding Mexico that's
never been done before environmental
rights are embodied in this that's never
been done before and then the other side
the new economy intellectual property
protection is so important for
technological innovation and investment
that is a big grower of the economy
right there that's our meeting potatoes
increases in digital services
penetration and financial services
there's a currency stability pact which
has never been in a trade deal before so
I think this will benefit American
workers everybody technology people
financial people most of all growth and
most of all my theme
the blue-collar boom there is a
blue-collar boom going on right now this
will enhance that blue-collar boom so
Democrats obviously running for
president claim that well you heard me
say that Bernie Sanders says he would
reverse this that would be one of the
first things that he would do because he
says it's a bad deal and also claiming
that that President Trump can't take
credit for this economy that it was you
know sort of the city where said today I
was you know begun off of the end of the
Obama administration what do you say to
him well what I would say is I don't
really want to hang around criticizing
Obama but in three years in three years
we've created seven million new jobs and
that was never and nothing like that
happened during the Obama years and was
way above CBO estimates look at people
talk about income inequality myself I
like opportunity and growth but the fact
of the matter is this has been a
blue-collar boom and prior
administration's both Republican and
Democrats could not make that boost the
biggest winners on wage growth are the
lower part in fact the bottom 10% is the
single biggest winner actually the
biggest winners in the stock market boom
now it's fashionable to say the stock
market is only for seven rich people
over half the American households
through 401ks IRAs whatever own shares
they account the bottom fifty percent
account for 47 percent growth in their
stock market accounts the top one
percent the famous top 1% the dreaded
top 1% got 13 percent growth so we're
seeing a reduction of inequality okay
income redistribution is moving down
okay that's very important but the
country is booming all right we're
basically growing about two and a half
percent some trade uncertainty cuz
President was tough negotiator and they
threw a lot of stuff at us may have
slowed the economy somewhat I think the
Fed was too tight a year ago and so
forth it's a pretty strong growth rate
tremendous jobs tremendous income
another Reagan hype for ISM take-home
pay so you take your paycheck after
inflation after taxes there's been a
$5,000
again in three years neither the
administration's preceding us had
anything remotely like that couple other
questions for you if the 5g decision
that Boris Johnson decided to do
business a certain amount of business
with Huawei that was something that the
president did not want to see what's
your reaction to that well look UK is
our cousins they're part of the five
eyes Intel group with Australia New
Zealand Canada in the United States we
were disappointed
Robert O'Brien NSC advisor and I wrote a
letter to Prime Minister Johnson I've
known him for many years before it was
Prime Minister we wanted him to be
tougher we will however work with him in
the next few years they have restrained
Huawei's presence as part of their deal
to about a third like to see that
whittled way way down
I mean what's happening here this is so
important 5g is a telecom issue it's a
national security issue it's an
intelligence issue it's a spy and
espionage issue now look the software
advances which are enormous new
inventions and innovations almost daily
the software advances are overtaking the
equipment issue Huawei is an equipment
maker they don't have the kind of
software the United States has they just
they're not even close to us that means
that those ugly antennas are going to be
closer and closer to the core backbone
that has all the information the data
processing the personal and governmental
information so you can't just say we're
gonna keep them out of the core but
we're going to let them into the edge
that's not gonna work it not gonna work
that worked for 3G and it worked for 4G
it doesn't work for 5g we're talking to
Microsoft Dell Qualcomm and others who
are brilliant technology people
constructing new software package which
may go soup-to-nuts for the whole
infrastructure of 5g and we're going to
try to sell that to United Kingdom and
work with them as we move forward very
interesting before I let you go I want
to ask you about your friend John Bolton
you've known him for many many years
were you surprised that this manuscript
is leaking out stories
surfacing in the New York Times at this
pivotal moment in this process well of
course I haven't read it I haven't
actually seen it so I'm not sure what's
in it
John is an old friend of mine he's a
very smart guy he served until he didn't
serve there are interviews that he gave
after the Ukraine phone call last summer
that were entirely consistent with what
the president's been saying and anyone
who reads the transcript will see that
there was never any quid pro quo there
were never any demands there was never
any pressure on president
zonie John was in accord with that he
never complained I never heard him
complain I've heard of complaining other
things sometimes I agree with this
complaint sometimes I don't so I was
quite surprised to read it but Martha I
haven't read it it's very hard for me to
make a comment on something I have not
seen yeah it seems like a lot of his
complaints at least as we heard them
from his colleagues were were aimed at
Rudy Giuliani and his role in this
national security issue do you think
that that was a big part of it did he
feel like his you know toes were getting
stepped on maybe maybe so but that's a
completely different matter than what
the president was saying or even
implying completely separate matter so I
just don't know I read the New York
Times report I will have a chance to get
and look as the NDC takes a look at this
thing the White House to to block this
book to block the book I haven't heard
that I haven't heard that I I did think
somebody I was talking to - Fred
flight's national security and you know
he reminded me particularly with
national security what Bob gates Bob
gates great guy defense secretary under
both parties for heaven's sakes
he said you don't write a book for
several years so you're out and until
the president is that and I think that's
probably a good rule of thumb I am NOT
here to to bury John Bolton I've known
him for a long time he's a very smart
guy
somehow the story just doesn't add up
and I think the president again
President Trump was so clear in that
transcript you've heard our lawyers go
at it there's no there there there's no
quid pro Crowe there never was any
pressure I just I think there's a
political exercise Martha and I think we
should let the voters side it in in the
November election that's the way I look
at it I'm just an NEC guy this other
stuff is very high politics way above my
pay grade Larry Kudlow
always good a Caesar thank you very much
for coming in tonight for having me