- Well, welcome to The 700 Club.
China is threatening to retaliate
after President Trump saidhe would impose new tariffs
on their imports.
It's the latest exchangein the trade battles
between the two biggesteconomies in the world.
- And the question many people are asking
is how will this affect my pocketbook?
Jennifer Wishon brings usthe story from Washington.
- Experts say moretariffs on Chinese goods
means Americans could pay more
for a variety of productsfrom toys to smartphones.
But President Trump saysit's time once and for all
to stop the Chinesetheft of American jobs.
- We've taken the toughest ever action
to stand up to China's straight abuse.
- [Jennifer] Starting September 1st,
he's putting 10% tariffs onthe remaining 300 billion
in Chinese imports hehasn't taxed already.
- For many years, China hasbeen taking out hundreds
of billions of dollars ayear and rebuilding China.
It's time that we rebuild our country.
- [Jennifer] China is threateningnecessary countermeasures,
its foreign minister today saying,
"Imposing tariffs isdefinitely not the right way
"to resolve trade frictions."
But the president says Chinaisn't acting fast enough
as the world's largest economieswork to reach a trade deal.
He accuses Beijing offailing to stop the sale
of Fentanyl to the USand not following through
on promises to buy largeamounts of American soybeans.
(tractor engine starting)
The new tariffs are ontop of an existing 25% tax
on $250 billion in Chinese goods.
China retaliated to thatmove by taxing 110 billion
in US goods, dealing a blow to US farmers.
But this new round oftariffs will affect a range
of consumer products fromclothing to electronics.
The president says Chinese negotiators
are trying to wait out histerm in the White House.
- They're praying.
They would like to see a newpresident in a year and a half
so they could continue torip off the United States.
- [Jennifer] In Congress,he has some support
from both parties.
- I think PresidentTrump was onto something
when he talked about China.
China has been abusing theeconomic system for a long time.
- And while she disagreeswith the president's tactics,
Senator Elizabeth Warren tweeting,
"We absolutely must be tough on China."
By setting this latestround of tariffs at 10%,
the president is leaving himself room
to ratchet them up higher if necessary
to put more pressure on China.
Jennifer Wishon, CBN News, Washington.
- There's a much longer perspective here.
How did we get here?
And the reason we got here isthat numerous administrations,
and you can go back decades on this,
took advantage of the importof cheaper goods from China
on the lower wage cost ofproducing those goods in order
to keep inflation in checkhere in the United States.
And so if you could satisfythe American consumer
with low-priced goods,
then everything was going to be great.
At the same time, you had a loss,
a huge loss, in terms of jobs,
in terms of production capacityhere in the United States
where it became much betterto produce within China.
So I applaud the presidentfor finally looking at this
and saying there's been an outflow
of several trillion dollars.
It's not just billions but trillions
to support the Chineseeconomy at a trade imbalance
that's been there for avery long period of time.
So he's finally bringing it into check.
So what's it mean for you and me?
Well, in the short term, it'sgoing to mean higher prices
at stores for a variety of things.
There are now tariffs on everysingle import from China.
Then, on the other side, there'sgoing to be tariffs imposed
by the Chinese, primarilyon our agriculture.
So
you're going to see farmers in need,
and what's going to be the ultimate price
if you can't sell to the largest market
in the world for agricultural products?
Well, what is that going to mean?
Stock market's gonna gyrateover this, already has,
and so you're gonna see up and down based
on what are the tariffs goingto do to future investment
because that's theultimate cost of a tariff.
It introduces uncertaintyinto capital markets
because you can't price your goods.
You don't know what the ultimate cost
is going to be, the ultimate price.
And so if you're amanufacturer and you're saying
do I want to build a new plant in China,
the answer today is no,I don't wanna do that.
And so where do you go with your capital?
What do you do, and how doyou price goods in the market?
That uncertainty is going to cause people
to not take risk; thathas an ultimate impact.
And in economic history,one of the triggers
for the Great Depression
was not just the stock market crash.
It was then the tariffs that were imposed,
and that shut down world trade.
So
he's playing a game,and it's a negotiation,
and these are hardballnegotiating practices
by President Trump.
On the other side, the Chineseare also playing a game,
and I think they've been playing it
ever since he imposed thefirst round of tariffs.
And what they're saying is well,
we're very patient, and wecan wait for a new president.
And we're pretty confidentthat new president
won't impose tariffs on us.
So is that going to be 2020or is that going to be 2024?
They're very patient, andthey will play a waiting game.
In other news, several evangelical leaders
have written to the president,
asking him to expand America'sRefugee Resettlement Program.
Efrem Graham has that storyfrom the CBN News room, Efrem?
- Gordon, the leaders from some
of the largest evangelical denominations
are worried about the futureof the refugee program.
They say the US can dealwith illegal immigration
while still accepting legal refugees.
Heather Sells brings us that story.
- The president hassupported religious freedom
in many ways, both at home and abroad,
since he first took office.
But now, some key evangelical leaders
are concerned that he mightend the US refugee program,
which welcomes persecuted Christians
and other religious minorities.
Pastor Sam Rodriguez oversees40,000 Hispanic churches
and is one of thepresident's faith advisors.
He's urging Trump to differentiate
between illegal immigrationand the plight of refugees.
Refugees are those vetted by the US
and found to have a crediblefear of persecution.
They most often come tothe US from refugee camps
in southeast Asia, theMiddle East, and Africa.
- We could do both.
We could stop illegal immigration
but continue to provide a safe haven,
be it a conduit of arefugee settlement programs
for those that are seeking legally
to come into this countryand are fleeing persecution.
- [Heather] A recentreport in Politico revealed
that the Trump administration may end
the US refugee program.
In response, Rodriguez and leaders
of some of the largestevangelical denominations
wrote the president, "We prayyou will reject any advice
"to shut the RefugeeResettlement Program down
"and that your administration
"will not merely continue the program
"at its current, vastly reduced level."
The leaders want it restoredto its historic levels
of 75,000 or more.
Last year, the Trumpadministration cut the program
by a third to 30,000.
- There have been fewerand fewer refugees arriving
to the area.
- [Heather] Pastor KJHill oversees volunteers
who work with refugeesat the Summit Church
in Durham, North Carolina.
Their numbers have slowed this past year,
and he's concerned about the possibility
of the program ending.
- It would be disappointing for sure.
We take seriously the commandof Jesus to love our neighbor,
especially the vulnerableand the marginalized.
- [Heather] Last year, afterevangelicals publicly opposed
the administration'sfamily separation policy,
the White House reversed course.
On refugees, their opinionsare a bit more mixed.
A 2018 Pew poll found that only one
in four white evangelicalssee a US responsibility
to accept refugees.
But Wheaton College's Ed Stetzer thinks
that they and other people of faith
might convince the White Houseto change course once again.
- A lot of people aresaying, well maybe this
is not the best course of action.
And we've seen this before.
We saw this with family separation.
- We are what the Statue of Liberty,
the adage on the Statue ofLiberty, we are that nation.
We're both full ofconviction and compassion,
and I would advise thepresident to please,
as a Christian evangelical leader
who believes in the rule of law
but likewise compassion,please revisit this.
- The White House mustdecide by October 1st
of the new fiscal year how many refugees,
if any, it will accept.
Heather Sells, CBN News.
- Family and friends gathered
in the Regent University chapel Thursday
to honor the longtime cohostof The 700 Club, Ben Kinchlow.
He died last month at the age of 82.
Mark Martin brings us thislook at the touching tribute.
- Some of you, if you'reexpecting a funeral today,
you're in the wrong place because today,
we're gonna celebrate the lifeand legacy of Ben Kinchlow.
- [Mark] Regent University'sPastor Mark Lawrence
set the scene for the celebration service
with the flag-draped casketof Ben Kinchlow before him.
In addition to being a veteran,
the man of God served as aminister, author, businessman,
and well-known 700 Club cohostwith Doctor Pat Robertson.
- It's Ben's homecoming, and, brother,
I just wanna tell you I'mlooking down at this casket.
We love you, I loved you,we worked great together,
you were my dear friend, we were partners,
and we lived for the Lord.
And your life is a testimonyto the power of God Almighty.
Thank you, Ben, we love you.
God bless you, thank you.(congregation applauds)
- A light has not gone out because Ben
has gone on to eternity because the legacy
that he has left shines in Nigel,
in Levi, in Sean, in thegrandchildren who are here today.
- That was the greatestgift to me that he gave me:
freedom to ask questionswithout fear of being shut down;
without retribution of goingyou can't think like that,
that's not how it goes;
the freedom to explore tokeep finding the truth.
- [Mark] The service was also a time
to celebrate the humor of Kinchlow.
- So one day, I'mwalking down the hallway,
and here he comes; I'dseen him on television.
And he stopped and looked and said,
"You are a man of God."
I said whoa, thank you very much.
(congregation laughs)
Why are you saying that?
He said, "Because you wear boots."
(congregation laughs)
- Throughout thecelebration of life service,
speakers remembered Kinchlow'slove for Jesus Christ
and his passion for sharing that love.
- You can say LordJesus, come into my life.
He'll change your life.
- And if you understand Ben Kinchlow,
you cannot simply seehim as a broadcaster.
You cannot simply see him as a CBN man,
even though he was all of those things.
But you must recognize that Ben Kinchlow
is a man that God foundin the midst of bondage
and brought him out of that bondage.
And when God brought himout, He gave him a voice
that has changed our lives.
- This is definitely ahomegoing celebration.
I will miss him in theflesh, not being able
to pick up that phoneand hear that strong,
thunderous voice and the great accolades.
But he has run his race,
and he has already preachedhis own funeral by his life,
by his giving, by him pouring into souls
and saving souls through JesusChrist, our Lord and Savior.
- [Mark] Mark Martin,CBN News, Virginia Beach.
- What a life.
Grew up watching him.
It was certainly an honorto have met him, Gordon?
- One of the untoldstories of Ben Kinchlow
is he was a groundbreaker.
He broke through a colorbarrier on daily television.
And you'd look at the life story.
Here was a man who wasraised in a Christian home,
goes into the Air Force,serves his country,
comes back into a very segregated Texas,
and it makes him angry.
And so he starts listening tothe teachings of Malcolm X,
and he starts to say,well I agree with that.
And he gets angry, and hestarts advocating okay,
if you're gonna mess with me,
I'm gonna mess right back with you.
But then God got a hold of him,
and he became a greatwitness of what could happen.
And so who does God pick him to pair with?
Well, the son of a Democratic senator
who was part of the, my grandfather,
part of the whole massive resistance
to desegregation in the South.
And so the two of them gettogether in the early 1970s.
And go back to the 1960s, andyou look at the race riots,
you look at the struggles ofMartin Luther King, Junior,
and you go how could all this happen?
And here comes Ben Kinchlowon a daily program,
holding hands with a white man,
and saying let's pray togetherand let's pray to Jesus.
What a great testimony of what can happen
with the cross, how we're all together.
There's neither Jew norGreek, slave and free,
male or female; we're all one in Christ.
What a great witness for our culture.
Ben Kinchlow, a true groundbreaker,
one who led the way for so many
of what can happen whenyou come to the cross.
Well, you can watch our memorialservice for Ben Kinchlow.
All you have to do is go to CBN.com.
