Network, all this is happening with the looming democratic impeachment inquiry push. Blake burman at the white house. He has a preview of the president s remarks. Other things may com up. Reporter clearly one of them weve been following what is going down on the corner of wall and broad. That has caught the attention of President Trump as well. He sort of shifted the blame today what is behind what is going on in the market yesterday. He hit one of his favorite punch ing bags jay powell. Today he was pointing the finger at democrats in a tweet this morning, quote, all this impeachment nonsense going nowhere is driving the stock market and your 401 k s down. That is exactly what the democrats are want to do. They are willing the president says to hurt the country with only the 2020 election in mind. That tweet came as nancy pelosi and top democrat on the House Intelligence Committee adam schiff were giving a press conference on capitol hill. The president continuing to call for schiffs resignation, and democrats are doing nothing but being a legislative roadblock. There is a donothing democrats. They dont do any work. All they want to do is try to win the election in 2020. Impeachment nonsense. This these are bad people. These are dishonest people. When the American People find out what happened, it is going to be a great day. You know what . We have to go back to building our country. Reporter the president continued to insist as well that the whistleblowers complaint is inaccurate. He equated whoever gave the whistleblower information to a spy. Democrats say the whistleblower deserves full protections. The focus should be on president s ask of ukraines president. This is blatant effort to intimidate witnesses. It is an incitement to violence. And i would hope and were starting to see members of both parties speaking out against attacking this whistleblower, others that have pertinent information. Reporter all of this happening, by the way, cheryl as President Trump is here at the white house meeting with his counterpart, the president of finland. Sally niinisto. Buildout of 5g, talk about finland, neighbor being russia. We expect the president and the president s any moment here in the east room. A press conference. We are expecting two questions. Who knows where that might go, cheryl. Cheryl look, one phrase, one tweet can change the markets in a wink. Blake, thank you very much. Lets talk about our markets. As you know it has been real volatile the last few sessions. We have stocks plummeting today because we have renewed fears of a economic slow down. The private payrolls report was out this morning. Lets bring in experts. Mike murphy. And fox businesss jackie deangelis. We have the power panel with me, im very excited mike to you first. You can talk yourself into recession. You can look at a couple of reports say thats it, Global Economic slowdown. Is the bark worse than the bite this morning . The bark, be careful it is becoming reality. Youre getting a lot of fear into the markets, a lot of selling into the markets. The economy is not as robust as it was, the fed being accommodative, fed standing by to cutrate when needed is enough for the economy. When you throw the impeachment talk on top of that, it is spooking a lot of people and money to come to the sidelines. Cheryl in the last hour were seeing expectations for rate cut for october meeting. We were looking at december, one more cut, we might get two. That is the other thing, markets are reactionary like the president what he is saying with numbers on the screen this morning. Big risk the markets this year have been driven up by macro headlines or metary policy support. Anytime one of those two things start to falter what happened yesterday and today you will see a little more fragility. That is probably what Market Participant are reacting to. They expect a higher probability of a rate cut in october, doesnt mean it will happen. Cheryl right. This is 24 hour period where we got a couple bad data points. I think the fed would need more than that. Cheryl jackie, the big jobs report is coming out friday morning. If adp is inclination on friday, we could see selling escalate. The market is concerned about a recession. This Manufacturing Activity seems to be at this point in the session the most worrisome piece that weve seen of this puzzle. The market thinks the clock is ticking as we approach the end of the year. A couple things theyre watching fundamentals and data is slowly starting to turn over. It is not terrible news but enough for sort of a red flag to go up, wait, this is actually happening. We have the china talks on october 10th. More tariffs on a lot of consumer goods going into effect december 15th. As the deadlines start to approach, the market gets nervous. Throw impeach conversation in on top of it, these two things are what the market was counting on, the president wouldnt be impeached or an inquiry, that we would have some sort of china deal and we dont. Cheryl china, couple things happening there. Hodge kong protests you have someone in critical condition. You have a shooting incident in hong kong. That makes things difficult for president xi xinping. This week the markets are close. The 70th anniversary of the rule of communism in china. Economic data many question whether or not it is real the numbers they produce the government does. If it is worse than expected, i see a lot of analysis say it is, that means we could get a favorable outon on october 10th in washington. I think if it is worse than expected we have incentive to work this along. We dont expect a grand resolution on trade even before the election. Cheryl im im mopeful. Good for you. On the china discussions if youre china with the potential impeachment process if you were dragging your feet before why wouldnt you drag them a little more now . That is the other thing weighing on the markets. Investors what happened q4 last year. We had a major selloff in the market. A lot of that is spooking people. We kneeneed something coming out positive numbers or fed or on china need people to put more money to work. Cheryl a down market can be a buying opportunity. The market has never gone to zero. It recovers from selloffs. Selloffs create a buying opportunity. The question is when. Cheryl its a numbers game. If were down 556, that is 900 points losses of two days, are we immune to that . Do you think the average person is saying 900 points, im not stressed about it . I think so, on percentage basis it is not significant because the dow trading at 26,000 and change at this point. Looking at numbers, looking at october specifically. It ends on average higher. There have been a couple of octobers weve seen pretty bad losses. 1929, 1987, double digits, close to 21 1 2 87 when we saw. If you see Something Like that on a relative basis obviously it will be a bloodbath. Cheryl looking at early numbers, second day of trading for the Fourth Quarter. I will not worry yet, liz. I will say at this point for the Fourth Quarter, for this october, october 2nd, the dow and s p are off to the worst start of the quarter since 2018. Remember 2018, financial crisis time. Kind of see those points in history jackie just mentioned, you get a little uneasy. I remember 2018 very well. Cheryl we all do. Remember Fourth Quarter of last year. I also remember august of this year. Both of those turned out to be scares that didnt materialize into anything economically. We could be having that again. It has only been two days. We would need series of weak economic data. It would have to bleed into other sectors of the economy too. We would need consumer data considerably weaker, that will not happen for a while. Cheryl were watching east room, live pictures, as we await to see President Trump, president of finland. Well take comment live, joint press conference. Two questions to each leader. Well see what is asked, mike, at the same time we know the president is sensitive to the stock market. He looks at the numbers. He already tweeted about the stock market. If there is anything in his power to move markets, change the conversation, he will do it. He most certainly will. If you think back to januaryf this year, when the president first started talking about the fed and saying that we needed rates lower, not higher, direction the fedoing, at the time it didnt seem like it made a lot of sense to me, he was spot on. We needed rates ler to compete in a Global Economy. We need to go in positive direction. He was right. He will continue to put pressure on the fed. I am now in his camp. We need, growth is slowing. Were notn recession, growth is slowing here. The fed made a mistake lowering rates. We need that to remain competitive. Cheryl jackie, markets ebb and flow, doesnt mean it will inful or horrific for the u. S. Economy . It doesnt have be. Technically a 10 drop would be a correction, right . There is nothing wrong with that as you said before. Investor can buy the dip. When you think how old the bull is at this point. It is not surprising sickly we may be turning over. It doesnt necessarily have to do with external ftors weve been discussing. Cheryl want to let the viewers know what is happening in washington. Were awaiting a News Conference with President Trump, president of finland. Any question can be asked. The president can say anything he wants to. Were watching markets and selloff. A few things mike b we want to go through. Oil is down hurting Energy Stocks and some of those components. The boeing story happening today. Worries about china trade. Usmca, those trade agreements, nancy pelosi sitting on it right now. There may be something happening on friday. Maybe she will go back to the white house with her offer but i think that this white house is anxious to get usmca on the books signed and done. Absolutely. They want to get a win. They want to get something, all uncertainties out there, take some of them off the table. Get what we can address. Lets deal with it. You bring up oil, cheryl. It is interesting. Three weeks ago oil spiked after the attack by iran. That would be a big negative for the market. Now that oil pulled back, we talk about that being a negative for the market. There is a lot out there. Were trading at historically high levels, very close to them. There is a lot out there. There is a lot of Great Companies f youre an investor look for companies thatou want to have real growth a long period of time. If you get a pullback, buy them. Cheryl talking to the girl who didnt buy netflix at four dollars. Jackie . I want to make a point to mikes comment the strong dollar is having big impact on commodities absent the geopolitical risk in the middle east. President said we need our dollar to weaken to compete better in the Global Economy with other countries and like china weakened their currency. We need that help in that regard but would be interesting to me to see powell, he gave us four hikes last year, to take them all back this year would be kind of shocking. What is shocking, liz, were talking about negative rates, negative. Negative rates in europe. Look what happened to japan and their currency. Could that happen in the u. S. . I dont think it ever happened before. It has been a mathematical puzzle for everybody i think. In the u. S. It is possible, not probable. Were still at a point it would take quite a bit to get us from where we are down to a negative place. I think the fed will cut one more time this year. They probably should. They have a chance to get behind it possibly turn the trend around next year. That absent any catastrophes or catastrophic headlines. Where we are to our pint earlier about a 10year bull market everybody is looking around the corner what is the next piece of data or thing that will take us up and down. Unfortunately when were indecisive no matter your opinion you can find data to support it. The market will be cyclical when we have news pieces come in. Unfortunately two in 24 hours that shocked us. It has been a rough day but i think we could probably turn it around as easily. Cheryl mike, when i look at days like this, when you go through some different sessions with the dow down 1000 points or up 1000 point, you wish i looked around a day down one thousand points and bought Something Interesting like apple which i still couldnt afford. Leaders are not selling off that much on a percentage basis but i think the president as you pointed out is watching this and Something Like the trade deal with usmca or the trade deal with china maybe this does bring him to the table. That will reverse this 900 point quickly if we get that sign. The president knows we have certain things. Not all about the stock market. He has certain arrows and levers he can pull if he wants to reverse this. Cheryl another lever he could pull, there is talk about this, we covered on fbn am. This is the issue of tariffs an lighthizer could possibly put 100 tax on european tariffs, goods coming into the United States. Nobody wants to see a bottle of pino double in price but it could. I would prefer less tariffs and fighting. China the big thing theyre stealing our intellectual property. I would like to stop that to get fair trade, but not so much taxing other people for the sake of taxing them. More if we get fair trade globally i think this is plenty for the u. S. To succeed. Cheryl i said it on air many times, i think tariffs are taxes on consumer. Peter navarro can debate that until the cows come home, it affected things like strollers, car seats, halloween costumes. We got a little bit of a reprieve for christmas but this is going to catch up. It is starting to already. Retail companies cant continue. Theyre trying to move production out of china but that is a slow slog. Unless there is partial resolution a lot of people are discussing by the end of the year you will see a game of catchup ultimately hit the consumer. May be christmas or next year but it will happen. The pin action it will hit bottom lines of companies. Earnings will be poor, well below what the expectations are, when that happens cheryl funny you bring that up, mark zandi from moodys made a comment, look if Companies Continue to pull back, this is on the heels of the adp report this morning if Companies Continue to get nervous, pull back, whether research and development or expansion, thats jobs, they will really start to disappear. I think why the friday jobs report will be so important to watch this week. There is only certain number of lines to play with and only certain number of costs until we get the to the labor line. Were not at this point and there is a real risk if the manufacturing slowdown goes on long enough, companies dont want to affect the bottom line they have to play with things that happen before the bottom line of the jobs might be one of them. Cheryl stand by real quick. I want to go to the floor of the new york stock exchange. We are waiting for joint press conference between the president of United States and President Trump and president of finland. Were watching the market selloff. We are below 500. Two hours to go to the close. We see anything can happen. Weve seen this many times before. Gerri willis from the floor of the new york stock exchange. Were talking about a major selloff were covering, gerri. You have on the side, of the little investor, fees from Td Ameritrade and schwab taken away i actually like that news. A lot of people do, commissions going to zero. Online brokers slashing commissions to zero. Td ameritrade latest to announce a slashing. How will they make mon . That is the question. The brokers will get paid a different way by order flow. When you buy a stock using an online broker, sometimes they sell the trade to somebody else. That means they make money on it. The other way to make money is through asset management, cash management, advice. They have lots of tricks in their arsenal these days. The hit the Companies Take to the share prices is directly linked to how much money came in the front door. Revenue from commissions. Let me give you couple examples, charles schwab, 7 of Commission Revenues were commissions. 6 to 7. Ameritrade, 25 . Saw ameritrade sell off more sharply. So much more of their revenue was at risk. Got to tell you, margins in Money Management are falling. Vanguard fidelity slashed fees on etfs to zero. All of this flows logically from deregulation that took place 44 years ago on may day, march 1st, 1975. Want to quickly before i let you go, dow losers, chevron, walgreens, cisco, cocacola. What do we know . Swab, financials are down, here is the brokerage if he were. Here are the laggards. Chevron all over the oil sector down. Eia reporting a rise in crude inventories. Oil price going down. Walgreens, pulling zantac, that is the only reason i can fine on the company that might impact share price. Cisco, that tech sector hammered. Cocacola down as well. Interesting a consumer name like that down. There is real worries about the economy, about recession. I will hand it back to you. Cheryl gerri, that is why people take zantac. Reporter got that right, sister. Cheryl days like today, gerri willis thank you very much. I still have the power panel in studio. I want to bring in kaltbaum Capital Management ceo gary kaltbaum. What do you make of todays selloff . The dow is down 496 now. Yuck. Let me say this the Growth Stocks in the market topped out four, five, six weeks ago and they basically i wouldnt call crashed but a lot are down 20, 25, 30 . In my study of markets, once you lose the big Growth Leaders a matter of time before other things start getting hit. Half the market is already bearish. The half holding up is now getting hit. I think there will be more time and price here and my real worry those numbers were seeing on the economy tells me that you will see a lot of guidance come down on earnings for a lot of companies and i think that is what the market is reflecting here right now. Im not sure how bad it gets or how far it goes. I think well go lower. Whether we bounce first or not who the heck knows but i think lower prices are going to be in the offing the next month or two. Cheryl gary, i glad you brought that up because i still have mike, liz, jackie here in the studio in new york city. He just brought up, third quarter, numbers, earnings, that could be tough. It could be but if Companies Miss on earnings they will trade lower. Big name like nike announced a week or two ago, it hit record highs after they announced. What he is talking about Going Forward if the current picture gets worse it would have negative effect on companies. You cant argue that point. It can. Im not as bearish as gary. I think a lot of growth names, i look at price action in apple ex today is very encouraging. I think there is growth out there. I want to let our viewers and everybody to stand by were getting two minute warning from the white house and well see President Trump and president of finland t could be two minutes, four minutes, six minutes but we have a lot to cover as we await them. Market down 481. Gary, respond to what mike said about the bearish sentiment. It is easy to get bearish when you see not just News Headlines that cross or china, brexit, you think to yourself, okay this too shall pass. If im making moves now, that will help me six months. In several months we could potentially have recession. That doesnt mean everything falls underneath this we could survive this . We had big bear markets we survived them. Bear markets do happen, big corrections do happen. My worry longer term is always the massive debt and deficits around the globe i think come back to haunt things eventually in a bigger way. I dont mine corrections because im able to see what companies are holding up best, and who has great revenue and Earnings Growth and i can promise you when we get past all of this, well see big winners, Companies Growing business 50, to 100 but just right now i think were in the soup. I think the soup lasts a little bit longer. Im not big time bearish but i think we go lower. Germany in recession. Other parts of europe is in recession. China is headed towards there. Japan is not great shakes either. We have a global phenomenon going on. It has happened before. Well see more easy money. The fed will go down to 1 on the fed funds. Maybe that helps. Well come out of it eventually but i think right now were not in a sweet spot. Again i think there is more to go. Doesnt have to be the end of the world. Cheryl liz, agree were in the soup. I think it is garlic soup. 1 would be great for Mortgage Rates and buying a car, great for the credit card. There could be a consumer component where it spurs activity in a good way. There is point you dont want to get too low if we dont have ammunition if we go into recession. I dont want us to go there too quickly. One more time, well see what happens in 2020. I dont expect this quarter earnings to be disappointing. This was supposed to be a backend loaded year. Fourth quarter was supposed to be a better quart of 2019. Guidance will be what people listen to. That hurt us a lot in the Fourth Quarter of last year. We started to go down in october. Companies started to guide down in 2019. We fell off a cliff. It will be sensitive. Cheryl go ahead, gary. I can tell you that companies this second are guiding down very quietly in a whisper like fashion numbers theyre all saying the same thing. Uncertainty on trade. They dont know what their costs will be. They dont know what they they can sell things at. It bow hooves the president that trade wars are not and and we could be in trouble as a republic. Cheryl he must have heard you. President trump about to start a joint News Conference with the president of finland. The two gentlemen havade h a meeting a luncheon together. Lets listen in. Look at all the press that you attract. Do you believe this . They are not after me . [laughter] i hope not. Youre lucky. Thank you very much. Today it is my honor to welcome president niinisto from finland to the white house. Mr. President , wonderful it host you once again in washington. We got to know each other over the last period of time. It has been a great experience. The president and i concluded number of discussions for exciting opportunities for our two nations. Before going further i want to express our deep condolences over the horrific stabbing attack that took place yesterday at a college in finland. America is praying for the victims and their families and we send our unwavering love and support. Thank you. The american and finnish people are linked by an abiding commitment to selfgovernment, individual rights, democracy and the rule of law. This past may our countries celebrated the 100th anniversary of the recognition of the independent nation of finland in 1919. As president wilson wrote at the time, our recognition was prompted by sympathies for a cause similar to that which caused our own declaration of independence in 1776. A century after we established diplomatic relations the United States and finland remain united by those same cherished values. Central to this effort is our nations close cooperation on matters of security and defense. Although finland is not a member of nato, save a lot of money, finland participates in many Nato Missions an exercises and im pleased that finland is substantially increasing its military budget. America and finland are working together to advance stability, freedom of navigation and respect for National Sovereignty in the arctic. Both of our nations are committed to a secure act tick region free from external intrusion, interference and coeron. Simply put, we believe that the affairs of the arctic should be governed by actual nations of the arctic. There are other people coming into the arctic and we dont like it and we cant let it happen and we wont let it happen. The night and finland are likewise partnering to insure the security of 5g networks. It is critical that we use safe and Trustworthy Technology providers, components and supply chains. We welcome the establishment of the ross Innovation Center in finland. Qualcomm has done fantastic job. This will greatly expand american and finnish business cooperation in 5g. Were glad that the Finnish Company nokia, its a great company, a Global Leader in 5g technology, is developing the cuttingedge products right here in the United States at bell labs in new jersey. Across the United States, Foreign Direct Investment from finland totals over 10 billion. Each year finnish owned Companies Invest more than 120 million in research and development in america. They expand our exports by more than one billion dollars. Just today finnish nokia, opened a new manufacturing plant in dayton tennessee. A 360 milliondollar investment that is creating hundreds of brand new beautiful jobs for a great state, tennessee. We love tennessee. So they made a wise choice. You never lose when you go to tennessee. I encourage other Finnish Companies to increase their investments in the United States. There are simply never been a better time to do business in america. We have passed the largest tax cuts, refm, also regulation cuts in the history of our country. We slashed business tax tax and were fueling job growth through a recordsetting campaign to abolish all the really terrible, unnecessary regulations. We have plenty of regulations but many of them we didnt need. We got rid of them. The American Economy is booming. Wages are rising, incomes are soaring. Unemployment hit the lowest level in more than half a century. We want Finnish Companies to join americas revival. We have the hottest economy in the world and it is the hot place to be. They all want to be here. The president and i are working on a way to improve International Trade based on the principle of fairness, my favorite word reciprocity. I hope that finland which holds rotating presidency of the eu sill will work for a beneficial agreement with the European Union. Wel have to start doing something with the European Union because they have not been treating this country right and they know it. I tell them and they know it. Americas trade deficit with the eu has been averaging 160 billion a year for many, many years. Achieving more balance and robust trade flows would greatly benefit both finland and the United States. We also appreciate finlands Strong Partnership in combating proceeder to trade practices worldwide including the theft of intellectual property. From trade to security, from travel to commerce, we are immensely grateful for our close and deeply valued friendship with the people of finland, great people. And were now working on a deal to sell a large number of airplanes, fighter jets, hopefully to finland. Well see how that works out. But we make the greatest jets in the world, greatest missiles, military equipment in the world, nobody is even close. Mr. President , thank you again for visiting the white house. The history of our two nations is a profound testament to the independence and resolve to defend it. I look forward to continuing to work alongside of you, as we safeguard the precious sovereignty and build a Bright Future for hope, harmony and peace for the american and finnish people. Thanks for being with us at the white house and the oval office. We had a very special number of hours. We appreciate it very much. Thank you, sir. Thank you, mr. President. First of all i will deliver your condolences to the finnish people. They do appreciate that. Thank you. Ladies and gentlemen, before the meeting i had some spare time, so i went to see a couple of museums here, museum of american history, museum of african history and museum of American Indian history. In addition to that i had the possibility of attending ceremony in arlington. Mr. President you have here a great democracy. Keep it going on. We had a very good discussion with the president. Like you mentioned our diplomatic relations are 100 years old. During that time we have developed our cooperation, not only in official meetings, like this american and finnish people, scientists, for example, meet each other, cooperating, working together. We have quite a lot of cooperation in Security Sector also in defense because, i think that we share the feeling that the most important thing for the nation is to guarranty security to its citizens and that is the starting point for finland also to this cooperation. I wanted to take up with the president the importance of transatlantic cooperation. We all know europe needs usa but i say that usa needs also europe. We know the price of everything. We should recognize also that value of everything. We share the same values, democracy, human rights, rulebased order and in that we are very similar. Europe has, in a way, awakened during the couple last years to understand also more about Security Point of view and to, i just want to tell you that in my opinion the stronger europe we hahe stronger partner you have. The arctic area, you know finland is very north is becoming more and more interesting like the president said. We both, alongside with six countries form the Arctic Council and we are working heavily. There are surely possibilities like we have heard the maritime rules are being opened. Maybe there are also resources but there are huge risks. One of them is that we should keep low tension we are used to have there and that is what we have been discussing and i do appreciate the president s position to emphasize that it is not a place for military. But even greater challenges, the environment, and im very glad that we started to talk two years ago in this very house about black coal. It is not maybe the worst which causes climate problems but it is, everybody can understand that this black comes down to ice and snow. When the sun meets it, it melts down. And melting of sea ice in arctic is very crucial. I used to say that if we lose the act tick we lose the globe. Arctic. We have a couple words, very important ones on arms control. We, some of us remember the first years of the cold war in 1960s. There was no agreement at all. Just cold war. We cant let the situation return to know agreement at all about arms control. That is why it is important to try to negotiate new agreements and continue a new start agreement. That would be a good new start for International Cooperation own that. Teaming up with you, mr. President , referred to 5g it is used in the ict as a whole. Were proud to have the excellence of, center of excellence of ipt in helsinki. Usa has been very helpful in that. Very many countries are working there together to fight against the huge danger of ip warfare. When it comes to providers in that area i am not very willing to point out any country or company but maybe a bit late from the usa in making a Risk Assessment. It would be prepared in one, two weeks time and after that we are in a place that we have to choose the tools to protect us. Mr. President , i want to thank you very much for having the possibility of meeting you here. It is very apple and i found our discussions very open, very interesting and giving a lot to my little country. Thank you, sir. Before we take questions something happened that has been going on for many decade and we came to a conclusion. Could i ask ambassador pence to come up for one second and explain the importance of what took place, this has been going on for many, many years. And this is ambassador pence, no relationship to our great vice president. Hard to believe, nobody believes that, but that is true. Right . I have been introduced his father, his brother, his cousin, his uncle. We are friends. Good afternoon. When i arrived in helsinki about a yearandahalf ago there was a stack of papers on the desk, one of which a couplern Indigenous Peoples whom the southwestern United States, arizona, colorado, including probably most predominantly but generically will refer to them as hopepy indians. In 1885 a lot of their remains were excavated and removed along with 500 artifacts to finland. There they remained despite a lot of activity to get them back. I just jump to the end, say through the good auspice of our state department through the president niinisto an his team we secured a bipartisan agreement where all those remains, including number of petrified bodies will be going back to be put back where they were buried. Special to us and i think it is probably special to Indigenous Peoples everywhere around the globe that were all concerned about paying appropriate respect to those who departed before us. Thank you to both president s for supporting this. Thank you, fantastic job. Be careful. Thank you. Thats a great job, mr. Ambassador. That has been going on for many, many decades. I want to thank you. Outstanding. John roberts. Reporter mr. President , thank you, president niinisto. I have two permanent questions, or ask them separately to get a fresh answer out of each one. Three House Intelligence Committees looking into the impeachment inquiry, gave notice today that they will be sending a subpoena to the white house for documents and other materials. Will you cooperate with those subpoenas . I always cooperate. This is a hoax. This is the greatest hoax. This is just a continuation of whats been playing out, john, for the last, since my election i would say, if you want, probably well find out soon but probably even before my election. This is a fraudulent crime on the American People but well Work Together with shifty schiff and pelosi and all of them, well see what happens because we did absolutely, i had a great call with the president of ukraine. It was 100 . You have the transcript. Then schiff went up and as chairman of the committee got up and related a call that didnt take place. He made up the language. Hard to believe. Nobody ever seen this. I think he had some kind of a mental breakdown. He went up to the microphone and read a statement from the president United States as if i were on the call because what happen when he looked at the sheet, which was an exact transcript of my call, done by very talented people do this, exact, word for word, he said, wow, he didnt do anything wrong. So he made it up. He went up to a microphone and in front of the American People and in congress he went out and he gave a whole presentation of words that the president of the night never said. It has to be a criminal act. It has to be. And he should resign and some people even say it was treason. But it was a very sad thing. Just so you know the call was perfect. The real call. The call i made. Many people were on the line, i knew that usually when i speak to foreign country leaders you can name any one of them, i speak on the phone i know we have many people listening from various intelligence agencies. My knowledge, i know all about it and, so this isnt Something Like, oh gee, im on the line, lets talk about a big secret. Many people on the line. I dont even know how many. Well find out i guess. Many peep, mike pompeo was on the line. Didnt say anything. They listen for both knowledge and for security reasons and for lots of reasons. The president of ukraine at the United Nations the other day and previous to that he announced through his spokesperson said there was absolutely no pressure put on him. There was no quid pro quo. At all. And if you look at this whistleblowers, which i have a lot of respect for whistleblowers but only when theyre real, his report of the phone call was totally different than the fact. But what got them they never thought i would release the call. I dont like doing that. I hope i dont have to do it again, release phone calls to foreign dignitaries to foreign leaders. I dont want to do that john. I dont want to do it again. But i did it with the permission of the ukrainian government. We got permission. We called up their representatives asked them if it would be okay otherwise i wouldnt have done it. If i hadnt done it i would be exposed to a lie. The whistleblower said seven or eight times, quid pro quo, you will do this or not get money . In all fairness biden said it he is on tape. In all fairness you have at least four night senators, democrats that said it. And they said it a lot stronger than even schiff and his madeup story said it. Obama, when he was dealing with the president of russia, not putin, he said, hey, tell vladmir i can do a lot more after the election. You remember that . You didnt make a big deal out of that. Everybody thought, oh, it . That cute. Isnt that cute. My talk and my response, Lindsey Graham said i never knew you were that nice. I cant believe you were that nice. He said that loud and clear t was perfect. It was perfect. Not a thing wrong with it. To impeach a president over a fraud that was committed by other people, that want to win an election in 2020, which they wont, is incredible. This is the greatest hoax now it has gone on for a long time. We had the mueller collusion delusion. That went on for years. And thats finally done. No collusion, no obstruction, no nothing. It was a joke. Everyone knows it. It was from the day one. Now i get three days of peace. Im walking into the United Nations going to meet with the biggest leaders in the world and i hear about the word impeachment. I said what did i do now . It was about a beautiful conversation that i had. Just remember this, ukrainian new president , a fine man, said i dont know what youre talking about. There was no pressure. He said it a number of types. What is your second question. You shouldnt be asking two questions. Do me a favor, ask one of the, john, john. John, ask one of the finnish president. Reporter can i come back to this . Sounds like i might like the question. Maybe i like the question. Maybe for first time in three years, i will have good question and i love it. Reporter there was report that came out here before you and president niinisto met with the staff member of ad shim schiff was filed. I love that question, john. Thank you for that question. Reporter can i finish . There is nothing to finish. Reporter whistleblower met with a member of the adam schiffs staff. New york times. They wrote it. Maybe they are getting together. Reporter youre response to what happened and that schiff may have knew what whistleblower had to say before he filed it . I think he helped write it. I think that is what the word is. I give a lot of respect for the New York Times before pitting it out. Just happened as i walking up here. They handed it to me. I said to mike, whoa, that is something, that is big stuff. That is a big story. I knew long before and he helped write it too. It is a scam. It is a scam. To finish on this, i love that second question by the way. You should have asked it first. Let me just tell you, the whole thing is a scam. The mueller deal was a scam. The russian collusion was a scam. You can ask putin. Nobody has been rougher on russia than donald trump. Okay . Now with that being said, it would be great to get along with russia. We will get along with russia because its a smart but nobody has been tougher on russia than donald trump. Okay. Ask one please. Reporter president ninisto good to see you begin. You had a discussion about 5g and nokia could fill in the place and you met wit president xi and renewed friendship between two nations. Do you feel that countries, particularly western countries that put huawei in their 5g cores are at risk of National Security . Thank you. Like i told already in europe the situation is maybe a bit different from that here because the company you mentioned is inside europe, partly at least. What the European Union is now doing is making a Risk Assessment asking each country what kind of experience, what kind of, what you have seen and found out . And that will be well finished in a week or two weeks time. After that we have to decide together in European Union what kind of tools we need to protect ourselves. You referred to my discussions with president xi. We didnt talk about 5g by meeting and we all know nokia is major factor in this area. They will answer for themselves. Thank you. Please. Pick somebody who is really nice from finland. Have a really nice person. I think theyre all nice in finland. Finnish reporters . Just two. Okay. Uhoh. Yes. From mtv news finland. One question for President Trump and one question for president niinisto. President trump how will this political storm affect u. S. Foreign policy officially the relationship with finland . Second for president niinisto, because this is a big issue at the moment, i have to ask what kind of favors has mr. Trump asked for you. Or the other way around you mean . What favors i asked. Might be the other way around. Both ways. So the political storm, i have lived with it from the day i got elected. Ive done more and this administration has done more than any administration in the history of this country in first 2 1 2 years. For me im used to it. It is like putting on a suit in the morning. People ask me how did he handle it. Rush limbaugh said i dont know of any man in america who could handle it. Sean hannity said the same thing. Others have said the same thing. I dont know any other man in the america because it is all a fraud. Because of that, because i know im right, because im doing a great job for the American People im very, very happy living the way im living. I thought that i would finish off the first term without the threat of people making false claims but this one turned out to be incredible. All because they didnt know that i had a transcript, done by very, very talented people, word for word, comma for comma, done by people that do it for a living. We had an exact transcript. When we produced that transcript, they died because you look at the whistleblower statement and it is vicious, vicious. And that whistleblower, there is no question in my mind, that some bad things have gone on and i think well get to the bottom of it. I think it is going to be a total reversal. But i have lived with this i have lived with this cloud now for almost three years, more than that because it probably started even before and i think nobody has done what i have done when you look at tax cuts and regulation cuts and rebuilding our military and right to try. Right to try. That means people that are terminally ill and very sick have the right to use our medicines, our great medicines because were so far ahead of every other country. So many things that weve done. Our vets are now taken care of. We have choice. Nobody thought we could ever get choice. When you have to wait online as a vet. You go outside, pay a doctor, we pay the bill. You dont have to wait three weeks to see a doctor. We cherish our vets. At least this administration does but for many years they didnt. I take care of vets. No other administration does. I lived with it the day i got elected. Im fine with it, okay . We had a conversation and discussion on a very equal basis which is, i really appreciate that. I had one request specifically. I wanted the president take more notice of Transatlantic Relations because i consider it is useful both for the usa and europe. While we were discussing also trading i told the president that the big purchase we are doing on fighters will be finished in two years time. We have five different candidate, three from europe and two from United States. He answered that ours is best. [laughter]. Jeff, go ahead. Reporter thank you, sir. Jeff mason from reuters. Mr. President , i would like to ask you about your use of the word treason. You used it repeatedly in the last few days. Do you consider anyone who opposes you treasonous . I consider when they lie, stand before our great body in our Great Chamber and they make up a story that is fiction like schiff did. He took that perfect conversation i had with the ukrainian president and he made it into a total lie. It was a total fabrication. And you do admit that it was a total fab bycation. The only ones dont le my conversation are ones that never read it but they heard shifty schiff. That is what i call a lie and because of the fact that he is, he is lying about the president of the United States and as to what the president you know, i believe it or not i watch my words very carefully. There are those that think im a very stable genius, okay . I watch my words very, very closely. To have somebody get up and to totally fabricate a conversation that i had with another leader and make it sound so bad, it was so evil, and now i see this, that just came out, minutes ago, where he met at a time that was impossible to have done, unless there is corruption involved. And just so you know, we have been investigating on a personal basis through rudy and others, lawyers, corruption in the 2016 election. We have been investigating corruption because i probably will, i was going to definitely, but i probably will be bringing a lot of litigation against a lot of people having to do with the corrupt investigation, having to do with the 2016 election. Reporter for example . I have every right to do that, the way they have treated me and other people, they destroyed people, their lives with a phony charge that never existed, that as collusion. Never existed. You had 18 people that hated donald trump. You had bob mueller that hated donald trump. In the end they couldnt find one damn thing. I could find it on you. They couldnt find one thing about donald trump having to do with collusion this is after two years and spending 42 million. And i have been looking at that long and hard for a long period of time. How it started. Why it started it should never happen to another president ever. But i have been talking about it from the standpoint of bringing a major lawsuit and ive been talking about it for a long time. Weve been investigating the corruption having to do with what they did to my people, they destroyed many of, many people. They came down to washington to do a great job and they left home, they left washington dark. They were dark. They came down here, i say bright eyed and bushy tailed. They wanted to do a great job for the people. They wanted to do a great job. We won the election. Look at nancy pelosi. She hands out subpoenas like they are cookies. You want to subpoena, here you go, take them, like they are cookies. Paul ryan would never give anyone a subpoena. He wouldnt give them, he would go in, im not saying wrong or right, but paul ryan, no lets talk about it, thats a big thing to give a subpoena. Two weeks later they are still talking. They wanted subpoenas to investigate the corrupt democrats and people on the other side. Paul ryan would not give subpoenas. Nancy pelosi, here you go, take it. Who wants a subpoena. Paul ryan was actually right probably because they should never allow a thing like this to happen to our country again. Thank you very much. Mr. President can you make clear right here, what did you want the president to do with regard to joe and hunter biden. If you look at what he said, okay, and he brought it up, i think he brought up the name rudy giuliani. What i want is the following, and ive said this loud and clear, we have our ambassadors here, we have mike pence here, why are we the only ones that give the big money to the ukraine . We give money to ukraine. Its bothered me from day one. Frankly, we do want ukraine to, we want to help them. He said theres no pressure exerted by him. He said it come about one sentence should stop us but he said there was no pressure exerted, but you dont have to ask him, all you have to do is read the transcript. Read the telephone call. What i was having a problem was was this, number one, tremendous corruption, more than just about every country in the world they are rated one of the most corrupt countries in the world and i dont like giving money to a country thats that corrupt. Number two i said the following and i said this loud and clear to everybody and rob