THEM.
DEIRDRE BOLTON IN THE NEWSROOM.
THANK YOU.
CONNELL?
CONNELL: TO TALK MORE ABOUT THIS
WITH GERRY BAKER, THE HOST OF
THE BRAND NEW FOX BUSINESS SHOW
"WSJ AT LARGE" WITH, GERRY
BAKER.
THAT IS A GOOD NAME FOR THE
SHOW.
>> THANK YOU.
CONNELL: WE'LL TALK MORE ABOUT
IT AND THE LAUNCH FRIDAY
EVENING.
YOU SAW THE TWEET FROM THE
PRESIDENT THIS AFTERNOON.
WHAT DO YOU MAKE OF THIS
THREATENING TO CUT THE
SUBSIDIES?
>> AS WITH A LOT OF THINGS WHAT
PRESIDENT TRUMP DOES IT GETS A
LOT OF ATTENTION.
SORT OF GOVERNMENT BY TWEET AS
IT WERE.
NOT SURE EXACTLY DEIRDRE SAID
WHAT EXACTLY THE SUBSTANCE COULD
BE HERE, WHAT ARE THE SCALE OF
SUBSIDIES GENERAL MOTORS GETS.
I'M SURE THERE ARE SOME.
WHETHER OR NOT THE GOVERNMENT BY
ITS OWN DECISION JUST END THEM.
CONNELL: YEAH.
>> LOOK, I THINK A LOT OF PEOPLE
WILL SHARE THE PRESIDENT'S VIEW
THAT THIS SENTIMENT GM WAS
BAILED OUT BY THE GOVERNMENT, BY
THE TAXPAYER ALMOST 10 YEARS
AGO, LITERALLY FROM GOING, WENT
INTO BANKRUPTCY AND REQUIRED A
LOT OF GOVERNMENT SUPPORT TO GET
IT OUT.
THERE ARE A LOT OF JOBS
DEPENDENT IN MANY STATES, MANY
IMPORTANT STATES IN THE MIDWEST
AND ELSEWHERE ON GM.
SO WHEN GM MAKES A BIG
ANNOUNCEMENT LIKE THIS, IT IS
RESTRUCTURING, PEOPLE SAY, CAN
WE DO SOMETHING ABOUT IT?
THIS IS KNEE-JERK REACTION THE
PRESIDENT SAYS WE'LL DO
SOMETHING IT IS NOT CLEAR --
CONNELL: WHAT WAS YOUR VIEW ON
GENERAL MOTORS ACTUAL
ANNOUNCEMENT?
THEY CUT JOBS, THEY'RE CLOSING
PLANTS.
WHAT DOES THAT SAY ABOUT A
SLOWDOWN MIGHT BE COMING NEXT
YEAR AND BEYOND IN THE U.S.
ECONOMY?
>> I'M NOT SURE IT SPEAKS
NECESSARILY ABOUT A BROAD
ECONOMIC SLOWDOWN.
THE ECONOMY IS SLOWING DOWN FROM
TORRID PACE WE'VE SEEN IN 2018.
I THINK WE EXPECT SLOWER GROWTH
NEXT YEAR.
I THINK IT IS MORE SPECIFIC TO
GENERAL MOTORS SOME OF THE
CHALLENGES THEY MAKE.
SOME OF THE SEDAN LINES THAT
HAVEN'T BEEN PARTICULARLY
SUCCESS PHIL.
THEY MADE GREAT STRIDES COMING
OUT OF BANKRUPTCY 10 YEARS AGO.
THERE ARE GREAT CHALLENGES.
IT'S A COMPETITIVE BUSINESS.
DEALING WITH HIGH COSTS HERE IN
THE UNITED STATES.
RELATIVE LOW COSTS ELSEWHERE.
NOT CLOSING FACTORIES IN CHINA
AND MEXICO.
THEY'RE GRAPPLING WITH
CHALLENGES IN VERY COMPETITIVE
MARKET.
CONNELL: GERRY, THE PRESIDENT
WILL MEET WITH NUMBER OF WORLD
LEADERS STARTING ON FRIDAY, AND
CONTINUING THROUGHOUT THE
WEEKEND IN ARGENTINA.
THE BIG SIT-DOWN OVER DINNER
WITH XI XINPING, THE PRESIDENT
OF CHINA.
LARRY KUDLOW, HIS TOP ECONOMIC
ADVISOR SAYING QUOTE, THERE IS A
GOOD POSSIBILITY WE'LL SEE A
DEAL.
HERE HE IS IS.
>> IN HIS VIEW THERE IS A GOOD
POSSIBILITY THAT A DEAL CAN BE
MADE.
AND THEN HE IS OPEN TO THAT.
CONNELL: I THINK THAT IS WHAT
TURNED MARKET AROUND TODAY, BUT
IN HIS NEXT BREATH, ONLY IF HE
MEETS EVERY DEMAND CHINA WILL
PROBABLY NOT MEET.
WHAT ARE YOU EXPECTING THIS
WEEKEND?
WHAT IS REALISTIC?
>> LARRY KUDLOW, GOD BLESS HIM
THE BODY LANGUAGE WASN'T
PERSUASIVE.
WAS IT?
IT WAS LIKE READING A HOSTAGE
STATEMENT PREPARED FOR HIM BY
SOMEBODY ELSE.
CONNELL: MAYBE HE IS TRYING TO
CONVINCE HIS BOSS THERE IS A
DEAL?
>> HE IS.
LARRY KUDLOW SPEAKS HIGHLY OF
THE IMPORTANCE OF GLOBAL TRADE
AND FREE TRADE.
WE KNOW EVERYTHING FROM WHAT
LARRY SAID AND DONE OVER LAST
FEW YEARS HE IS NOT A FAN OF
TARIFFS.
YOU CAN NEVER RULE OUT WITH
PRESIDENT TRUMP.
PRESIDENT TRUMP LIKES TO DO
DEALS.
THAT IS HOW HE DOES BUSINESS.
HOW HE IS SUCCESSFUL IN HIS
LIFE.
WORKED EVEN SINCE HE BECOME
PRESIDENT.
HE DID A DEAL ON NAFTA PEOPLE
SAID IT IS THE WORST THING WE
COULD NEVER HAVE.
WE'LL NEVER DO A DEAL ON NAFTA.
HE DID A DEAL ON NAFTA.
DID A DEAL ON SOUTH KOREA TO
RENEGOTIATE THAT TRADE
ARRANGEMENT.
LOOKING AT POSSIBILITY OF A
NUCLEAR DEAL WITH NORTH KOREA.
HE LIKES TO DO DEALS.
AS TOUGH AS HIS NEGOTIATE
POSITION HAS BEEN, YOU CAN'T
RULE OUT THEY SIT DOWN WITH
DINNER, PRESIDENT XI MAKES NICE
NOISES I WILL MAKE A DEAL.
DOESN'T LOOK LIKE CHINA HAS SO
MUCH IT NEED TO DO IN MOST
PEOPLE'S ICE IN WAYS CHINA IS
NOT PREPARED TO.
YOU MIGHT NEVER RULE OUT THE
PRESIDENT HE MIGHT DECIDE TO DO
IT.
CONNELL: WATCH GERRY SHOWS WHEN
IT PREMIERS, FIRST OF EVER SHOW,
"WSJ AT LARGE," WITH GERRY