BE BACK HERE ON MONDAY.
HAVE A GREAT WEEKEND.
I KNOW I WILL.
>> Bret: WELCOME TO
WASHINGTON.
I'M BRET BAIER.
TONIGHT, SERIOUS COUNTER
PUNCHING TAKING RIGHT NOW AND
WHAT'S BECOME A FULL-FLEDGED
TRADE WAR WITH U.S. AND
CHINA.
WITHIN THE PAST HOUR
PRESIDENT TRUMP HAS ANNOUNCED
ANOTHER MAJOR TARIFF INCREASE ON
MORE THAN A HALF TRILLION
DOLLARS OF CHINESE IMPORTS.
HE TWEETS, STARTING ON
OCTOBER 1ST, THE $250 BILLION OF
GOODS AND PRODUCTS FROM CHINA
CURRENTLY BEING TAXED AT 25%
WILL BE TAXED AT 30%.
ADDITIONALLY, THE REMAINING
$300 BILLION OF GOODS AND
PRODUCTS IN CHINA BEING TAXED
FROM SEPTEMBER 1ST AT 10% WILL
NOW BE TAXED AT 15% ENDING WITH
THANK YOU TO YOUR ATTENTION FOR
THIS MATTER.
THIS COMES THIS MORNING WORRIED
THAT BEIJING HIT THE U.S. WAS
$75 BILLION WORTH OF NEW TARIFF
TARIFFS.
THE PRESIDENT RESPONDED BY
URGING AMERICAN FIRMS LEAVE THEM
A WORLD'S MOST POPULOUS COUNTRY.
THAT EARLIER MESSAGE SENT THE
MARKETS REELING.
THE DOW PLUMMETING TODAY 623
POINTS.
THE S&P 500 LOST 76.
THE NASDAQ PLUNGED 240.
FOR THE WEEK, THE DOW LOST ONE
PERCENTAGE POINT.
THE SMP DROP TO 1.5.
THE NASDAQ LOST A LITTLE LESS
THAN TWO.
TODAY'S EVENTS PUT AN
EXCLAMATION POINTS TO THE
FEDERAL RESERVE'S COMMENTS, THE
TRADE SITUATION IS COMPLETING
HIS ABILITY TO DEAL WITH ONE OF
PRESIDENT TRUMP'S FAVORITE
TOPICS, INTEREST RATES.
CORRESPONDENT RICH ADS AND
STARTS US OFF TONIGHT A BUSY DAY
ON THE NORTH LOT OF THE
WHITE HOUSE.
>> THE PRESIDENT PROMISES TO
RESPOND AND HERE IT IS.
ANOTHER ESCALATION IN THIS TRADE
FIGHT BETWEEN UNITED STATES AND
CHINA.
THE PRESIDENT SAYS HE MET WITH
HIS TRADE ADVISORS TODAY, THE
RESULT IS THIS AND THAT MEANS
ANNOUNCEMENT AND THE GLOBAL
RELATION BETWEEN THE TWO
COUNTRIES ONLY GETS DOMINIK
COUNTRIES ONLY GETS DOMINIS
COUNTRIES ONLY GETS DOMINIT
COUNTRIES ONLY GETS DOMINID
COUNTRIES ONLY GETS DOMINI
TODAY.
IF YOU SAW PRESIDENT TRUMP'S
TWITTER FEED TODAY, YOU KNOW THE
PRESIDENT HAS HAD ENOUGH WITH
CHINA.
A SERIES OF TWEETS, WE DON'T
NEED CHINA AND WOULD BE FAR
BETTER OFF WITHOUT THEM.
SETTING OFF AN INITIAL MARKET
DROP, AND THE PRESIDENT OF THE
UNITED STATES.
TRUMP SAYS AMERICAN COMPANIES
ARE HEREBY ORDERED TO
IMMEDIATELY START LOOKING FOR AN
ALTERNATIVE TO CHINA AND TRUMP
TWEETED IN ORDER THAT ALL
CARRIERS INCLUDING FEDEX,
AMAZON, UPS, AND THE POST OFFICE
COMMIT TO SEARCH FOR AND REFUSE
ALL DELIVERIES SENT FROM CHINA
OR ANYWHERE ELSE.
UPS AND FEDEX RESPONDED SAYING
THAT THEY WORK WITH AUTHORITIES
AND FOLLOW LAWS AND REGULATIONS
TO INTERCEPT ILLEGAL SHIPMENTS.
WHITE HOUSE TRADE ADVISOR PETER
NAVARRO DEFENDED THE
ADMINISTRATION'S STANCE.
>> WE KNOW THEY ARE KILLING
AMERICANS OFFENSE AND ALL.
WE KNOW THEY MANIPULATE THEIR
CURRENCY.
WHEN AMERICANS UNDERSTAND THAT,
WHEN CHINA TRIES TO BULLY US,
THAT ONLY STRENGTHENS OUR
RESOLVE.
>> ADMINISTRATION OFFICIALS
DESCRIBED CHINA AS THE
UNITED STATES' MOST SIGNIFICANT
CHALLENGE IN ADVERSARY.
DESPITE THAT, THE PRESIDENT
ASKED, WHO IS OUR BIGGEST ENEMY,
JAY POWELL OR CHAIRMAN XI?
TRUMP CLAIMS THEY ARE
RESTRICTING GROWTH.
>> DO NOT PLAY CHECKERS IN HS
WORLD BUT CENTRAL BANKING AROUND
THE WORLD IS A CHESS MATCH.
>> SPEAKING BEFORE A CONFERENCE
IN WYOMING, POWELL THREW IT BACK
TO THE PRESIDENT, SAYING
UNCERTAINTY AROUND TRADE IS
PLAYING A ROLE IN THE ECONOMIC
SLOW DOWN AND, WHILE MONETARY
POLICY IS A POWERFUL TOOL THAT
SUPPORTS CONSUMER SPENDING,
BUSINESS INVESTMENT, PUBLIC
CONFIDENCE, IT CANNOT PROVIDE A
SETTLED RULE BOOKED FOR
INTERNATIONAL TRADE.
EVEN AS THE MARKETS TANKED, THE
DOW JONES INDUSTRIAL AVERAGE
SPENDING THE DAY HUNDREDS OF
POINTS IN A NEGATIVE, THE
PRESIDENT KEPT WEEDING EVEN
JOKED, THE DOW IS DOWN 573
POINTS, ON THE NEWS THAT
REPRESENTATIVE SETH MOULTON,
WHOEVER THAT MAY BE, HAS DROPPED
OUT OF THE 2020 RACE.
THE WHITE HOUSE AND SET TRADE
NEGOTIATIONS ARE SCHEDULED TO
RESUME NEXT MONTH WITH CHINA.
AS FOR THE PRESIDENT ORDERING
COMPANIES TO DISENGAGE WITH
CHINA, THE WHITE HOUSE HAS
OFFERED NO CLARITY ON WHAT
AUTHORITY THE PRESIDENT OF THE
UNITED STATES HAS TWO COMPELLING