Impact the holiday season, but also what hes refused to acknowledge to this point, that the trade war is hurting u. S. Businesses and consumers. So what now . Lets start with the new york stock exchange, julia chatterly, she is there for us. I appreciate you coming on. Explain why the bond market is scaring everyone at this moment . Its a great question, kate. What we have seen in the past is where weve had these kind of warnings signals from the bond market, it can mean a u. S. Recession. In fact, all u. S. Recessions have seen this happen in the bond market, but it doesnt always mean a u. S. Recession is coming. This is key. Stock Market Investors are clearly nervous. Theyre worried about the trade war, theyre worried about the data were seeing, and weve china data weakening, germanys data weakened today, so theres a lot of nervousness. People then buy bonds, because they think its a safe haven, security, but that then results in the warning signal that were seeing right now. So the key here is it may mean a recession. It doesnt always mean a recession, but right now, as you can see, the dow another session lows, people are simply very nervous. What are investors telling you about the timing . You mentioned it just a bit, the timing of this and the president pulling back on tariffs in china. Thats key. Yesterday when we saw the president announce he was going to delay a big chunk of the tariffs, a lot of people said, does this help . Or did the president again a reference to the poker, show all his cards. Hes worried about the consumer and the stock market falling, so hand over a load of leverage to the chinese president in the meantime, the Global Economy is weakening as collateral damage. Trade wars arent easy too win, kate. Exactly. Were seeing that right now. You pose a key question. If this move from the president strengthens, whose hand it actually strengthen, i think thats important. Julia, thank you very much. Joining me for more on this, a former commerce secretary, and of course a former ambassador to china, gary locke. Thank for you being here. My pleasure, kate. Whats your reaction to what julia was laying out . Do you think the country is headed there . There are a lot of signs all across the world that some of the major implies are headed toward a recession. It doesnt mean they will. Thats why its very important that we actually reach a trade deal with klein to try to head off some of these warning signs and some of these danger points. In both sides its to both sides advantage to strike a deal as quickly as possible. It probably will not be as far ranging, not quite the grand bargain, but chinas economic is slowing down, theres troubling signs on the u. S. Economy, and the president is finally acknowledges that this trade war hurts consumers, various economists, including the governments own economist, that the he current tariffs are costing the average American Household anywhere from 800 to 1,000 more per year. The tariffs that were schedule to do go in september 1 would have cost americans even more. Iphones, video consoles, toys, clothing, shoes, you name it, that would have hurt the pocket did not books of americans. Look, no one should be surprised when today or tomorrow the president says again this isnt hurting the u. S. Economy, the u. S. Imply is doing fine, its only hitting china, only in the move hess actually made, it is acknowledges that it is impacting u. S. Businesses and u. S. Consumers. That is for sure. With this announcement yesterday, and glassing some of these tariffs that he promised to impose, hes clearly blinking, on the mounting pressure and finally reacting to the mounting pressure. Do you think this he helps the president and china get any closer to an actual deal with what the president announced . I think it bodes well for more productionive discussions and negotiations. I think the chinese and americans are set to resume their discussions and negotiations in about two weeks. With the slowdown of the chinese economy and the president s own admission that this hurts american consumers, perhaps both sides will be more realistic and more willing to strike a bargain. Dodds a world in which the United States and china just do not reach a trade deal, and this becomes the new normal . That would be very, very problematic. It certainly will impact american consumers, the impact will be even more. It certainly will affect businesses, all passed on to buyers of american products. It also will hurt American Companies that make things using chinese components. It raises the cost of that american good, as they try to compete against other products made by company from other countries, or even as they try to sell this made in america product, which will cost more. They try to sell these all around the world. We have not yet begun to feel the full impact of this trade war, and as a others have said, there are no winners in a trade war. Both sides lose. Its the workers and consumers of both countrieses. Secretary, if you could please hold on. We have some breaking news i want to get to quickly. Police and protesters have been facing off again in hong kong. You saw how quickly things escalated yesterday during this show, live on this show. Lets get there right now, ben, what has been happening there tonight . Reporter kate, were in kowloon, a very workingclass neighborhood, where in the last hour protesters have clashed with police, just outside this Police Station here, which essential from which emerged Police Fire Tear gas. This is the first time tear gas has been used since the tumultuous events at the airport. What were seeing, is even though traffic is sort of coming by sporadically, local residents shining lasers at the Police Station, and of course Hong Kong Police have deemed lasers as an offensive weapon used by these protesters. Its important to know that most of the people on the street behind me are not dressed in the black of the protesters. These are local residents who are angry that the police seem to have used a fair amount of tear gas yet again in a very crowded residential workingclass neighborhood. This is what we have seen emerging in the last few days, that the anger at the police and therefore the government is not just coming from the protesters, but ordinary residents of hong kong who are tired of what seeing as they see as Excessive Police force, excessive use of tear gas. So despite the apologies that the protesters put on the yesterday and some of the excesses that occurred at the airport, it doesnt appear that the resentment against the authorities is in any way abated. Kate . Ben, thank you so much. Well see what happens in the coming hour at the very least. Thanks so much. Let me bring back in former ambassador to china, gary locke. Ambassador secretary, it was really surreal to watch it play out yesterday in the hong kong airport. It was like panic and pandemonium amongst the protesters and police. Now you have top chinese Officials Say the protests are showing signs of terrorism and state media showing tanks and amassing along the border. A key question at this moment, what do you think chinas next move here as this continues in hong kong . This is a very tense time, fraught with danger on both sides for both the protesters, the prodemocracy movement, but also mainland Chinese Government authorities. They cannot allow this to get out of the hand. Both sides have to be very, very careful about overreaching or overstepping. Certainly if the protests continue, china is going to be more inclined to step in. They cannot let this get out of the land for fear this would be an example, an encouragement to protesters, violence on the mainland itself, and thats something they cannot tolerate. Yesterday if they intervene, we risk an tiananmen square, where theres bloodshed, and the protesters i fear would be willing to martyr themselves on behalf of their cause. That would be absolutely devastating. Thats a terrifying thought. Do you think its a real possibili possibility. It should be communicated this must not happen at all costs. Change the leadership of hong kong, the chief executive, who is really aligned with beijing needs to step down. She made major blunders by proposing this tradition treaty with the mainland which sparked ought these protests, and basically said she was tabling the proposal, but not withdrawing it completely. The chinese could say this was all her creation. She did not control the police, so they could be the convenient scapegoat, replace her, have her step down, and lets bring some calm back to the situation. You mentioned World Leaders speaking up. Let me oz play for you what the president said about the clashes. The hong kong thing is very tough situation, very tough. Well see what happens, but im sure it would work out. I hope it works out for everybody, including china, by the way. I hope it works out for everybody. Its a tough situation, i hope it works out. Is that the kind of speaking up and speaking out that youre talking about from World Leaders . Is that enough coming from the white house . No, we dont need just hope. We need active intervention, use all of our diplomatic resources, communications directly with beijing, with the chinese embassy, not just wishful thinking, but intervention and active participation. Ambassador secretary, thank you for being here. Appreciate your time. My pleasure. Coming up for us, no apologies, the Trumps Administration official who sparked outrage on the iconic poem is now trying to explain himself again. Is it helping . Plus the white house and congress are holding talks on expanding background checks but are talks progress . Where does the president get his apparent opt miisms when he says they all want to get something done . Stay with us. Thanks to priceline working with top airlines to turn their unsold seats into amazing deals, Family Reunion attendance is up. Were all related yeah, i see it. And because priceline offers great deals by comparing thousands of prices in real time, sports fans are seeing more away games. Various yeahhh is that safe . Oh, y. Ahh not at all. No, maam. Nope. And more people than ever are enjoying romantic getaways. romantic music thats gross priceline. Every trip is a big deal. 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Prolia® can cause serious side effects, like low blood calcium; serious infections which could need hospitalization; skin problems; and severe bone joint, or muscle pain. Are you ready . Ask your doctor how prolia® can help strengthen your bones. Doubling down, ken cuccinelli, a top immigration official in the Trump Administration is standing by his revision of the iconic poem. T consume necessarilyi sparked outcry when he offered his own version of that in an interview with npr. Would you also agree that emma lazaruss words etched, give me your tired, your poor, are also part every the american ethos. Give me your tired and poor who can stand on their own two feet and not become a public charge. That did not sit well with a lot of people they tried to explain it further last night on cnn. Of course that poem was referring back to people coming from europe where they had classbased societies, where people were considered wretched if they werent in the right class. It was introduced it was written one year after the First Federal public charge rule was written. Joining mess renot political tom at a timer angela rye. Does that explanation make it better or worse . What it makes it is honest. What we know about this administration, and we knew from you know, Donald Trumps treacherous history with race, we knew when he announced his campaign, we knew when he was questioning barack obama ace citizenship, and anyone who is other who they cannot trace through that i lineage is problematic. It is for that reason, kate, i could tell you how exhausting it is to talk about racism and xenophobia is in this administration, but i also cannot express the outrage, the exhaustion, the people on the other side of that racism are feeling. So i will yell until my voice is hoarse. This is a problem. This is something we cannot sit idly by and watch, from the allies who benefit from White Supremacy and families who have benefited, its time for everybody to stand hand in hand and say its just not right. Emra lazarus, so of course that brings me to the bible. I think about, you know, the god that i serve. You know, we see all of this evangelical support for donald trump and i wonder what bible are they reading. Theres nothing about christs words that are in alignment with the policy of limitation we sue from this administration. Its a problem. We know that this issue is energizing to the trump base. Yeah. And i i think we can say candidly that when people are angry about when he says something or an ally of or theres outcry to something he says, thats energizing to President Trumps supporters as well. Do you see energizing the Democratic Base as well . This discussion very importantly, i think with where you are, is far beyond politics, actually, but when anything is done in the political season, you know theres a political point to it. I just wonder if it doesnt energize the Democratic Base as much. What do you think right now . I dont know, kate. Just going back to how i personally feel, im so tired of talking about it, and even more so, just like analyzing it almost not even like. Its like shock. You know, this conflict, how do we go this far, and the next thing is even worse. The fact he said what we all know the policy is for . Saying this is about europeans. We know thats what you thought his point, right, is this law has been on the books forever. What theyre doing, this administration, is expansion on the original concept, but the concept of the public charge has been on the books for a long time. Is it the law, or is it the explanation of what theyre trying to do with it thats so troubling. Its the intent. To me, as a lawyer, there are a gazillion cases out there in case law that talks about discriminatory intent as the reason. For me, i would always argue that if theres discriminatory impact, its just as egregious, but he told you in plain sight, plain hearing, exactly what the intent was. It was about europeans. So they have decided that black and brown immigrants are worthless. They have decided they dont contribute to this economy, this goes not true. They have decided near note adding value to this economy, which is not true. Hes been very explicit about their intent from the beginning. You ask a political question about energizing the base, i cant tell you enough, it is demoralizing to know in our 400 years being in this country, this is where we are. Thank you for being here, though. Great to see you, as always. Good to see you. Coming up President Trump says he has tremendous support is out there on for new gun measures, and there are new talks on capitol hill, but if past is prolog, is any of this a sign of progress . Thats next. At tmobile, for 40 line for four lines, its all included for the whole family. Like unlimited with netflix on us. And now with each new line, get one of our latest smartphones included. 40 line for four lines and smartphones are included for the whole family. Youwhen you barely the clip a passing car. Minor accident no big deal, right . Wrong. Your Insurance Company is gonna raise your rate after the other car got a scratch so small you coulda fixed it with a pen. Maybe you should take that pen and use it to sign up with a different Insurance Company. For drivers with accident forgiveness, Liberty Mutual wont raise their rates because of their first accident. Liberty mutual insurance. Liberty. Liberty. Liberty. Liberty. My digestive system used to make me feel sluggish. 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Since thence President Trump has said that he wants to see something done. Here he was just yesterday. I am convinced we want to do something. I have spoken to Mitch Mcconnell. I think very strong le he wants background checks. I do, too. And a lot of republicans do, too. Where is the evidence of that . Where is any real sign of Real Progress . Or that anything has changed in the gun debate that has stalled in congress for years