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Doubles Down; Cruz: Vote Your Conscience; Major U.S. Averages Down; Oil
Prices Extend Losses; Stocks Down, Oil Down; Health Insurance Stocks Up;
Dow Down Triple Digits; Protesters Clash at the RNC; Trump Hedges On NATO;
Pence: NATO Allies Must Pay Their Fair Share; Trump: I Give Great Credit to
Turkish President Recep Erdogan; Trump: Would Give Help NATO Allies If They
Fulfilled Their Obligations to U.S.; Trump to Tone Down Tax Plan; Trump to
Tweak Tax Plan; Ivanka Trump to Speak; Ivanka Trump's RNC Speech; Cruz
Booed Off Stage; Oil Settles at $44.75/BBL; Pence Tries to Unite GOP - Part 2>
Jerry Seib, Steve Moore, Julie Roginsky, Ned Ryun>
Cleveland; Republican Party; Protests; NATO; Russia; Mike Pence; Economy;
Stocks Market; Turkey; Recep Erdogan; Europe; Vladimir Putin; United
Kingdom; Hillary Clinton; Ivnaka Trump; Election>
NORQUIST: About half.
MOORE: Yeah, so I never got that argument why that's bad. But also we did see companies build plant and, you know, factories and stuff with that money. And why do we want it in Indonesia and China and India? Why don't we want to .
NORQUIST: If you don't bring it back, they'll build the factories overseas rather than here. Hillary should take the blame for this law. This could have been fixed. Obama told a lot of the business that he was going to fix it. It's been eight years. He's never move to help on this at all. And I think it's about time that they got out of the way.
SEIB: Trish, I'm not entirely sure that will be the argument from the Clinton campaign. I think it will be -- that's fine, let's do the tax repatriation but let's take a big chunk if not all of it spent in the infrastructure.
MOORE: Maybe there's a deal there because, you know, Trump wants to, you know, build more -- but I want to inform you guys about something else and get your reaction to it.
REGAN: Sure.
MOORE: So, and that one of the big changes we're making, which is also in the Paul Ryan plan is really change the way the corporate tax structure works. So in my opinion, Grover, we got the dumbest corporate tax. You couldn't come up with something dumber. We tax what we produce but we don't tax what we import.
The rest of world says the opposite. So, we are going to move towards what's the called the border adjustable tax system. If Ford Motor Company makes a car here and sells it abroad, we're not going to tax it. When Toyota brings a car into the United States we are -- this is -- yeah, legal, you can do that. And most of the other countries do that. So it's going to -- and I think .
REGAN: So, there's no offense when Toyota makes a car abroad.
MOORE: Yeah.
REGAN: When they bring it in .
MOORE: When they bring it to the United States there will be a tax on it, the 15 percent corporate tax will be applied to -- because it's almost like a consumption tax when it's .
REGAN: What's your reaction to that, guys?
NORQUIST: If it -- is this going to look like that?
MOORE: I don't even know.
REGAN: Yeah, that's .
MOORE: Well, if you look at what Paul Ryan's plan, because it's very much like what Paul Ryan does in his plan.
NOSQUIST: OK. And anything that can be spent off into a VAT (ph) becomes very .
MOORE: I got you. We know that.
NOSQUIST: One more .
MOORE: Yeah.
NOSQUIST: . tax in your -- Jerry, what do you think?
SEIB: Well, you're proposing this for Donald Trump, so the question, which I think, Trish was just echoing is, won't people see that as a tariff?
MOORE: It's what the rest of the world does. So this is the point that .
(CROSSTALK)
REGAN: Maybe that will help if people see this as a tariff. No, no, no, I mean, you know, with certain crowds who feeling like we .
MOORE: We're losing jobs.
REGAN: . we're losing jobs and so we need to compete on a level which makes it, you know, if we're going to sends good overseas and they tax them heavily, then do we need to reciprocate it the same?
MOORE: And I want to convince you guys in this case. We have these free trade deals and we all agree to all our tariffs, but what the other countries do is they do have value-added taxes. So they're imposing essentially gut legal terrorist when we bring our stuff over. We're like the only country in the world that doesn't do that. So we -- I think Trump has a point here. We're putting our own manufacturers in disadvantage. We'll see how that plays.
REGAN: All right, I think politically it actually could help him especially with a lot of sort of blue-collar Democrats voters.
SEIB: With markets that are worried that Donald Trump's going to start a global trade war, this is no going to .
REGAN: Yeah. No, I mean, nobody wants .
(CROASSTALK)
MOORE: . better way that this is not really a tariff.
SEIB: I understood.
REGAN: All right. Guys, we lived up to James Rosen's prediction, right? Wonky panel. I love it. I love it. And we've got a lot of good details from you.
When do you going to actually propose all of those to Donald Trump?
MOORE: Probably next week or the week after.
REGAN: All right, come back on, let's do this again, all of us, and we'll get your reaction.
(CROSSTALK)
REGAN: All right. It's all happening here live on "The Intelligence Report" where we are live from Cleveland.
In just few hours, Ivanka Trump is going to be going on stage to introduce her father. This is Ivanka's prime opportunity to show the softer side of Donald Trump and also, of course, win over the all-important female vote, something Trump has been having some difficulties with. Stay with us. We're back in two.
(COMMERCIAL BREAK)
REGAN: Well, it's Ivanka Trump's turn to take center stage right here at the Republican National Convention. Tonight she's going to be introducing her dad ahead of his own big speech, considered to be one of his very closest advisers. What is it that Ivanka needs to say tonight that might help showcase Donald Trump's softer side and win over more women voters?
Here to weigh in former Massachusetts Senator Scott Brown and Democratic strategist, Julie Roginsky.
I will start with Julie first because she's the girl and, you know, he does need to win over more women.
JULIE ROGINSKY, DEMOCRATIC STRATEGIST: Yeah.
REGAN: And Julie, it's anticipated that that's going to be one of his biggest hurdles. I should think his daughter could help him immensely here. What is it that she could do tonight that really might start to change how he's perceived?
ROGINSKY: Well, she needs to do two things. One, she needs to continue doing what her brother, Eric, I think did so effectively yesterday which just to try to humanize Donald Trump.
The first real emotion I saw from Donald Trump, and all these months, we've been talking about him and looking at him, is when his son, Eric, yesterday spoke about his love and admiration for his father. And you saw Donald Trump, I think, almost tearing up at his son's praise of him. And I think that was a very poignant moment regardless of what you feel about Donald Trump to show that there is a connection there. Ivanka can do that equally, if effectively, everything I've seen of her, she's an amazing communicator and hopefully she'll be able to do that for him as well.
Secondly, she needs to explain to -- yeah.
REGAN: And she's -- go ahead, Julie.
ROGISNKY: Yup. Secondly, she needs to explain to women, and this is a much tougher challenge, how Donald Trump's policy than some of the rhetoric referred to him towards women is not something that he spouses. Now, that's a very, very tall order for her. Clearly she's his daughter she loves and you'd expect her to do nothing less.
But she needs to convince women and college educated white women. This is the first time in my recollection that Republican nominee is losing that demographic. She needs to convince women like her, college educated-white women to come back to the Republican Party and the Republican fold which is going to be a very .
REGAN: I got to jump in. I think, in some ways, she really represents what a modern woman is. She's got a full life -- she's got little kids at home, a brand-new baby, she runs her own company.
FMR. SEN. SCOTT BROWN, (R-MA), FOX NEWS CONTRIBUTOR: Yeah.
REGAN: She has a role in her father's and she's playing an active role in this campaign. I don't know how she ever sleeps. But in many ways this is what women aspire to be today.
SCOTT: Absolutely. And if you look at a lot of women in his corporations, they are in leadership roles as well, having that same type of lifestyle this over achievers are people who just wanted make a better life for themselves and their family.
REGAN: If I look at that and I say, you know, this is a guy who raised this woman, this really, you know, from all accounts pretty extraordinary and successful woman. It doesn't gel with the whole image of him being a misogynistic, chauvinist pig.
SCOTT: Well, some of the things he said, you know, whether (inaudible) with Howard Stern, or doing things .
REGAN: Yeah, that's the problem.
SCOTT: Yeah, that kind of a guys stuff that some people .
REGAN: Yeah.
SCOTT: . do and get carried away a little bit, you know, they take that and magnify it. But once again, when I look at anybody whether it's him or you or anyone else, the first thing I look at is their kids. The second thing I look at is their business associates and their employees.
Now, if he's got a position where there are many women as you know in leadership positions in his businesses, I mean, that speaks volumes. I've been there. You've seen it yourself.
REGAN: Yeah. No. I do. I just think that you're right .
SCOTT: And they don't take .
REGAN: . some of the things he said over the years have landed him in all the trouble he's in
SCOTT: Yeah.
REGAN: But, you know, his actions suggest otherwise.
SCOTT: Listen, he's a very philanthropic man. He's a good man. And the thing that people like about him, and he is not like the typical politician. As you saw last night with Ted Cruz, you know,
(CROSSTALK)
SCOTT: . giving his word and not going back on his word, and that's what people are being drawn to.
REGAN: All right. Well, it's going to be an exciting night. Julie, I'm sorry, we're out of time.
ROGINSKY: No worries.
REGAN: I'm going to see you in a little bit later in this show.
ROGINSKY: Yeah.
REGAN: We're going to be right back. Thank you, Senator Brown.
BROWN: Thank You.
(COMMERCIAL BREAK)
LORI ROTHMAN, FOX BUSINESS NETWORK ANCHOR: Good afternoon. I'm Lori Rothman on the floor of New York Stock Exchange with the Fox Business Brief.
All right. It was fun while it lasted. Stocks are selling off a little bit. Today, the Dow down 107 points close to worst levels of sessions. But, hey, it's been 10 consecutive days of gains for the Dow with seven of those closes at record high. So no surprising, that's taking a bit of breather today.
All right. We have some deal news, the Department of Justice having none of the deals involving its major health care companies, basically suing Aetna and Humana, trying to break up that merger and also suing Anthem and the company it's trying to partner with. So why are these signal, why are these companies up so much today? Well Humana surprised Wall Street today by reporting earnings early better than expected. They all so boosted their quarterly and full year expectations. But still the DOJ says these mergers will reduce competition and raise prices for consumers.
Get you back to "The Intel Report".
(COMMERCIAL BREAK)
REGAN: Ted Cruz failing to achieve his Reagan moment after refusing to endorse Republican presidential nominee Donald Trump at the GOP convention last night. Trump took to Twitter following the Texas Senator's speech saying and I quote here, "Wow, Ted Cruz got booed off the stage and didn't honor the pledge. I saw his speech two hours earlier but let him speak any way, no big deal."
Trump, of course, is referring to the pledge that Cruz took gave back in March giving his word that he'd support the party's eventual nominee. So where is the party going from here?
Joining me right now on set, host of Fox News's "MediaBuzz", Howie Kurtz. You know, Howie, it was pretty surreal when this whole thing happened there last night and I was there covering it along side Lou Dobbs. And we kept thinking, OK, maybe he's going to go off script we have an excerpt.
HOWARD "HOWIE" KURTZ, "MEDIABUZZ" HOST: Yeah.
REGAN: He's going to go off script, it'll happen, it'll happen. Donald Trump comes out into the crowd thinking, OK, maybe this is the moment.
KURTZ: Right, and even .
REGAN: Nothing -- well, I mean, and I think the crowd felt cheeped.
KURTZ: Ted Cruz was the guy who came to the dinner party, ate the food, drank the wine and left without thanking the host and it was quite pre- meditated and has bought him an entire day of coverage, you know, press this morning, live on all the cable news networks. And the Trump campaign, I am told, actually is enjoying this because they think it has turned sentiment against Senator Cruz and Trump was sort of the injured party here, sympathetic -- people are sympathetic to what Cruz .
REGAN: Well, you had to feel for him. I don't know if we can show viewers that moment but, you know, as he was on stage smiling, Donald Trump, walks out into the audience and gives people sort of a thumbs up sign, like "It's OK." And you know, as a human being, you cannot feel for someone that that's got to be a really awkward spot to be in right then if you're Donald Trump, but he handled it, I think, well. What do you say?
KURTZ: I think he handled it well. I think this is the reason why when he was down to Cruz versus Trump in the primaries, the party did not want to coalesce around Ted Cruz. He does what is in Ted Cruz's interest. He does -- has few allies in Washington as a freshman senator.
REGAN: Yeah.
KURTZ: And I think at the same time, if Trump had said, OK you can't speak because you're not saying nice things about me, then he would have seen the heavy (ph). So he let it play out. He's actually maybe kind of clever. And these other controversies like Melania's speech and so forth, the Trump folks have felt the media blowing it up too much here. They're saying go at it, it's fine, they like the storyline.
REGAN: What do you think happens to Ted Cruz from here on out? I mean a lot of people are saying he's done because people feel betrayed by him.
KURTZ: I'm going to vote my conscience here and tell you the truth to what I think. He obviously thinks he's positioning himself for 2020 if Trump has a bad defeat. He becomes the guy who wouldn't counter Donald Trump and so fort. But I think he's alienated so many people who feel like -- if you can't support the guy, if you're still mad about the attacks on your dad and your wife, then don't show up, don't give the speech, don't do that kind of attention where having me, me, me speech. I think it causes him a lot of damage within his own party regardless of what happens in November.
REGAN: Yeah, you know, he just doesn't look like he's got any class.
KURTZ: Right. But the problem for Donald Trump is as we debate all of this, the message of unity, we're not talking about it, it seems like a symbol of disunity.
TRISH: Yeah. Sure.
KURTZ: And it consumes a lot of action. If Trump gets that oxygen back tonight, he's got one shot .
REGAN: Well, this will be very interesting. It's happening tonight. We will be live. We're covering it. I'll be there. Lou Dobbs will be there. All of the FBN all-stars.
Thank you so much, Howie. Good to see you.
All right. Don't forget, everyone, you must watch Howie Kurtz every Sunday, "MediaBuzz" on Fox News Channel at 11:00 a.m. and 5:00 p.m. Eastern.
Mike Pence delivering a passionate V.P. acceptancy to last night where he emphasized his Christian and conservative values while promising to help Donald Trump win the White house this November. More on his speech and what's ahead for Mike Pence, next.
(COMMERCIAL BREAK)
(BEGIN VIDEO CLIP)
PENCE: You have nominated a man for president who never quits, who never backs down, a fighter, a winner, until now he's had to do it all by himself against all odds, but this week with this united party he's got backup and on November 8th, I know, we will elect Donald Trump to be the 45th president of the United States of America.
(END VIDEO CLIP)
REGAN: Vice presidential nominee Mike Pence addressing the convention last night. The campaign hoping that Mike Pence's address would quiet any concerns about Trump's experience or conservative credentials. Trump joined him on stage and kind of nearly gave him a kiss on the cheek there.
Joining me right now, the CEO of American Majority, Ned Ryun and Julie Roginsky back with us.
Ned, did Pence's speech delivered? Did it do what it needed to do?
NED RYUN, AMERICAN MAJORITY CEO: It did.
REGAN: OK.
RYUN: I mean, first of all, I'd love the choice of Governor Mike Pence. He's serving the House with my dad. I've been able to get to know Mike over the years.
He's the steady Midwestern, steady hand who's had experience politically. He has executive experience. What he was able to do last night is really demonstrate to people.
You know, again, I think he's a great communicator, was able to communicate what needed to be communicated, at the same time, take some sophisticated shots at Hillary. So, I think he did what he needed to do and he's demonstrated.
This is a good thing. Trump is obviously larger than life, flamboyant. Mike Pence is the steady hand that allows people to say, you know what, I might have questions about Trump, but with Pence on the ticket, it emerges decisions that have been made.
You know, I can do this because we have to stop Hillary from getting into the White House.
REGAN: Let me get to Julie, you know, of course, as we've said before, one of Donald Trump's challenges is the female vote, the minority vote.
You know, he picked a white male, Mike Pence, I think for, you know, many of the reasons that Ned just outlined is very good and steady influence on him. However, Julie, could he have perhaps picked a women or a minority and if so, would that have helped him more on Hillary front?
ROGINSKY: Well, not only did he picked a white man but he picked a white man. And listen, I understand it's a pro-life think in the Republican platform. It certainly could effect any nominee to be pro-life, but he picked a governor who is so extreme on this issue that even many Republicans who are pro-life think he goes too far.
There's a whole sentiment out there in Indiana called tampons repents because point is that he has deemed and established laws that would essentially (inaudible) for unfertilized eggs. I mean, it's such a degree that I think people who are even pro-life find this positions extremist.
But, I'll go a step further, the problem for Mike Pence last night without necessarily the words that he spoke which were just fine and very and keeping with what a vice presidential nominee would typically say is that he was spoke entered by two very interesting things.
One is we're all talking this morning and this afternoon about Ted Cruz not about Mike Pence who was the key note last night. The other which I think is very fascinating is the very strange body language between him and Donald Trump right afterwards and I said in a calendar roll last night that it was almost like a bad second date. It was very weird, awkward hug situation.
REGAN: Well, you know, people comment on that and they pointed at that 16 minutes interview, is this just, you know, look, it's not easy, right, you know, you're still getting to know someone .
RYUN: Right.
REGAN: . and get their rhythm. When you sit down for dual interview, for the first one, it's not like you can expect magic right away, but you need it soon, right, because time is running out.
RYUN: Right. Time is running out and again and they're still getting to know each other. I think it's going to work out fine as he move forward.
Let's go back to the whole life issue. No, I think this is -- it was a great move, Mike Pence, regardless of his a little pro-life or a lot pro- life, the lefts going to go after him. So that doesn't matter, but he checked the box. A lot of people from the conservative wing, the Evangelicals, the social conservatives say, OK, we feel more comfortable now with this ticket.
REGAN: OK that said, the reality is, you know, we're talking about Mike Pence, but most people are -- most people are still talking about Ted Cruz today.
ROGINSKY: Yes.
REGAN: Your thoughts.
RYUN: It was calculated move. I mean, let's face it. Last fall, I would have found it a bit more authentic if Cruz had actually gone after Trump instead of coming along side of and host that Trump would implode and then take his supporters. That was a calculated move. Last night was a calculating move.
REGAN: He's a calculating guy.
RYUN: He's the calculating guy for 2020, but I do think however, he will be a Santorum. Santorum did very well in 2012, did not do well in 26, you know, I think would be the same.
REGAN: Julie, just quickly, I only have 20 seconds left, but your thoughts on Ted Cruz' move last night?
ROGINSKY: It was all about 2020 illustrates me being in Cleveland in the last few days. I just got back. It's how much of the people that we saw on stage throughout the last few days are only about 2020.
You've got people who are literally counting on President Clinton so they can try to defeat again in 2020, which is just not bode well for party unity or for Trump.
REGAN: You know, look, it's not good for the Republican Party if they continue doing that .
ROGINSKY: Not at all, no.
REGAN: . because you can't win if you're hoping Hillary Clinton gets it. Anyway, thank you so much, Julie, Ned. We're going to be right back after this.
RYUN: Thanks, Trish.
ROGINSKY: Thanks very much.
(COMMERCIAL BREAK)
REGAN: It's a very big night tonight. I will be there. I hope you join me on the floor there of the arena. Donald Trump is accepting the Republican presidential nomination tonight at 10:00 p.m. Eastern.
It's a moment that many thought would never happen. You remember back in June 2015 when Trump first announced his candidacy there at Trump Tower.
Join me and our Fox Business all-stars including Lou Dobbs tonight for our special coverage. I'll be leading the prime time coverage starting at 9:00 p.m. Eastern. See you there.
Liz.
LIZ CLAMAN, "COUNTDOWN TO THE CLOSING BELL" HOST: Trish, thank you. Tonight is the night.
END
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