 ticking just ahead of the European Commission President John Claude Junkers meeting next week with President Trump in Washington apparently it's coming with an olive branch on tariffs. President Trump previewing the upcoming trade discussion this afternoon. Take a listen. They have massive trade barriers where our farmers can't sell there for the most part. They have other barriers on cars and lots of other things. Even medical equipment where it's very very difficult to sell into the European Union and they're gonna be coming on July 25th to negotiate with us. We said if we don't negotiate something fair then we have tremendous retribution which we don't want to use but we have tremendous powers. We have to including cars. And despite those trade fairs we keep hearing about though they obviously don't seem to be impacting earnings. Take a look at this coming into the week. So far only one company out of all the companies that reported Mitch and tariffs as a negative. That was the NAR, the home builder. We know lumber prices have gone through the roof. Here now to discuss Rick Unger, the pop complex host. Melissa Armo, the stock swoosh host and Ford O'Connell, civic foreign pack chairman. Ford earlier today while Larry Cutlow suggested that Junker who is ready to offer he's ready he's gonna come to Washington DC ready to cut a deal. What do you think it could look like? Well look and President Trump wants to speed up trade negotiations with the EU where we are basically at a deficit of 150 billion in goods per year and and that's what he wants to do. He wants to put this behind us and essentially he's looking to make a deal. I will say this though the fact that if we don't reach a deal President Trump is talking about putting tariffs on European vehicles. We import 43 billion worth of EU vehicles each year so guess what? This is a real meeting of the minds and hopefully President Trump's going to prevail. You know Rick we know the numbers of the first 50 billion 25 25 percent tariff the second 200 potentially will be 10% the math takes you to 32 and a half billion dollars in additional costs. You start to think about a 19 trillion dollar economy maybe that's one of the reasons the market's sort of ignoring this right now. Yeah it's it's not as big as it sometimes feels but you know I got to keep coming back Charles to this problem you and I have talked about before. I have some sympathy for the president's plans with China. I am a big believer that this intellectual property issue is gigantic for our future and it's rare that you hear me say that I have sympathy for anything with this president. What I cannot understand is this need to conduct a trade war in Asia like this with China and at the very same time take on our friends in the EU. This is what's going to hurt business. It doesn't have to be that way. It's not smart focus on China. If they can make a deal awesome. I you know listen President Trump certainly has been on orthodox in his approach to this hand fisted in many ways but I think one of the things it by doing it this way I think many Americans also learning. Hey you know there have been instances where two billion dollars worth of Chinese aluminum was parked in Mexico on its way to America would have never made the official roster you know. So it's a lot to juggle. It's but the fact of the matter is is do you think he can win this if you even think winning is possible. If anyone can Trump Ken and that's how I'm looking at it and he's taking a hard line to your point. He is looking at everyone the same and I think to be fair he's doing that on purpose. He said no tariffs. Let's just have no tariffs for anybody. What's wrong with that. I don't know if it's going to come to that point or not but so far looking at the companies looking at the car companies looking at Tesla looking at looking at GM looking at all these companies that hasn't affected the stocks negatively and those are just the car companies. Apple's up to the markets up so all in all so far you haven't seen a negative reaction that's taken hold of the market and driven it down in some big matter yet it could have happened. It might still happen but I think Trump is trying to raise it could happen but Trump is going to try to resolve this. Remember we've only been into the beginning of 2018 since this all started. He's trying to fix it. He's trying to fix it. I mean we put on the board again. This is coming into this week today. United Airlines have reported they didn't mention tariffs. In fact they said no and no nothing CSX a big train company. In fact tariffs only mentioned a little bit more than China the Fed in North Korea which are all at zero but but having said that to also afford we do know prolonged. It will have an economic impact the fate. The beige book was out today wall line in there said manufacturers and all districts expressed concern about tariffs and the many district reported higher prices supply disruptions they attribute to the new trade policies also we see a lot of pressure on soybean prices corn prices. Do you think the administration should make a carve out make an exception dip into some federal funds to support farmers as we go through this process because there have been hints that they they will do that. Well I think that we actually dip into the federal trough to help farmers considerably already we're propping up a lot of the industry. I want to say this though and I think that that is it goes back to another point. I think that President Trump is looking at the long term picture here and he essentially sees that if you can take care of the trade differences with your allies whether it's the EU or the North American continent Canada and Mexico then you are in better position to go after China because we know that there's a lot of backdooring and hanky panky going on here. I want to say this though about agriculture. The one thing about agriculture and this is why you want to he wants to speed it up with the EU. He is hacked off about what the agricultural tariffs the EU is putting back on the US is doing and he wants to make sure that he's showing his base. He's right there with all the retaliatory tariffs are politically motivated which ironically goes against World Trade Organization rules in the first place. You know yesterday when when Jay Powell spoke in front of the Senate Joe Donnelly. He was in my mind grandstanding and hey soybean farmers can't make money at this level corn farmers can't make money at this level. I pull up the chart and corn was lower than this many times when President Obama was in office. Now listen we love the farmers. My grandfather was a farmer but we know that they're being used as a political tool. You're right but I am very impressed that you actually raised the possibility of the feds dipping into their pocket to help the farmers because I think that's the right way to think but let me add one other thing to it. The president said something he was either yesterday or today that bothered me because it was what your typical politician would say. It's all short term. Don't worry about it. I got you. It's going to be fine in the long term. Mr. President. Don't do that. Americans are grown ups. You tell them you need to sacrifice for a period of time for the greater good. They will do it. Yes. You can help them out a little bit with with federal funds but just talk to these farmers like grown ups. They can take it. Don't pretend it's short term because it's not short term. If we go forward with this in his mind he probably thinks it's what I don't like about it is like today if you watch the congressional hearings it was like Trump back in 101. You know they were grandstanding at these hearings today with the with the farmers. Well you know I mean honestly you know a lot of the farmers voted for Trump. They probably didn't know exactly what was going to happen in reference to this but there are federal subsidies now for farmers and we obviously no one wants to see the U.S. farmers be in a troubled spot. We don't know how long this is going to continue but at the end of the day if somebody doesn't do something that it's going to be this way because it is unfair. It's been unfair. It was unfair originally and he's trying to help the farmers in the long term. Now what is short term. What is long term. Nobody knows. No. Well I was just going to ask you what do you think because J. Powell suggested if this lasted a couple of years it felt like he put a time horizon on it or timeline and I think that also might have given the market a little bit of a sigh of relief. Hey we don't need resolution tomorrow when farmers begin to lose their farms. That's when it's long. We don't want that to happen. We don't want that to happen but Rick I got to say this having a handle a lot of agricultural issues and knowing what goes on with the Department of Agriculture. Farmers have been playing both sides of the fence for a very very long time. They do agree with Donald Trump but they don't like uncertainty and I think that that's what's causing them to go into the Trump bashing at least through many of their advocates. In the meantime guys that we know the EU cut a separate deal with Japan ultimately will end up in zero terraces. Is that a thumb. Do you think they're thumbing in their nose at us Ford or could that be the template to use with all of the sort of deals we're trying to achieve now. I like the way the South Korea deal worked. I think that South Korea though had an impetus to do this because they are scared about North Korea and sort of the China you know relationship. I will say this though we need to be able to find some of these countries particularly like Germany and find something that actually makes them agree not just the tariffs but maybe we can parlay it with something else where we both agree moving forward. I think you got to pick off some of these big boys in the EU like Germany and France. It's the same way with Canada and Mexico. Let's find something we can agree on and parlay in the package because we're going to be stronger moving forward. Ironically Canada began today working on their own internal issues. Apparently the provinces have a lot of protectionism between them. Who would have thought. Thank you all very much appreciated. By the way a little breaking news for you. President Trump telling CBS News that he holds Vladimir Putin personally responsible for election meddling. But you haven't condemned Putin specifically. Do you hold him personally responsible. Well I would because he's in charge of the country just like I consider myself to be responsible for things that happen in this country. So certainly as the leader of a country you would have to hold him responsible. Yes. And we'll have more in the Russian fallout later in the show also coming up. It's a story warming the hearts of Americans all over the country a dedicated employee new to the job walks over a dozen miles on his first day. That employee and his boss joins us right here on making money. We'll be right back. This program is brought to you by Fisher Investments. Clearly better money management.