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  • 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

BE BACK HERE ON MONDAY.

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