This is a rush transcript from "Special Report with Bret Baier," May 15, 2020. This copy may not be in its final form and may be updated.

(BEGIN VIDEO CLIP)

PETER NAVARRO, WHITE HOUSE TRADE ADVISER: We signed a trade deal with them, and one of the things was stop stealing our intellectual property. And we 
have credible information that the Chinese government is trying to steal 
our vaccine information.

PRESIDENT TRUMP: If we can stop them, they're going to try doing it. You could stop 
doing business with them. That's one thing.

LARRY KUDLOW, NATIONAL ECONOMIC COUNCIL DIRECTOR: We have a lot of issues 
with China regarding the lack of transparency. But with respect to the 
trade deal, it is continuing, absolutely.

TRUMP: The ink was barely dry when this came in from China. So it's not 
like we're thrilled.

(END VIDEO CLIP)

BRET BAIER, ANCHOR: China and the U.S., the tensions are increasing on a number of 
different fronts, the latest being the accusation that China is trying to 
hack information about vaccines and therapeutics. We're back with the 
panel. Steve, a big deal here. Even as we are doing business with China, 
it's definitely getting more tense.

STEVE HAYES, FOX NEWS CONTRIBUTOR: Certainly. This is nothing new. We know that China has been doing this. It would be a surprise, actually, if China wasn't doing this kind of thing. The question I think becomes what does the administration do about 
it? And Donald Trump has campaigned for office saying he was going to get 
tough with China. Certainly, he has taken a confrontational approach on 
trade policy. The question is, what punishment will there be if we can 
confirm or if he's willing to confirm publicly that China has in fact been 
doing this?

BAIER: The question is how far to go, Leslie, in this environment, this 
economic environment, and is the administration ready to push this button 
all the way.

LESLIE MARSHALL, FOX NEWS CONTRIBUTOR: When the president said he was going to be tough on China, I don't think the American people would view him as being tough enough, and 
this is opportunity, quite frankly, for him to do that. What we are going 
through, what we are going to see after, is, I believe, more and more 
consumers wanting to help those local businesses. And if you really want to 
make America great again, what about buying products made in America? And 
you can't do that if we continue to have these deals with China. And also 
that gives a green light and a pass to CEOs and these corporations to have 
their products made overseas. This is an opportunity for the president to 
really keep his word that he campaigned on with regard to China.

BAIER: Yes. I think the pharmaceuticals especially moving from China back 
here is a priority. Byron, I want to ask about another topic, and that is 
the week that was, in the president's words, Obama-gate, Michael Flynn, 
what we have learned in all of this and the reaction to it. Your take just 
from 30,000 feet.

BYRON YORK, FOX NEWS CONTRIBUTOR: When Republicans very first began to learn what some of the intelligence and law enforcement agencies had done to target the Trump campaign in 2016, the question came to them, did President Obama know about 
this? What was his role? Did he have a role? And what we found out is some 
tantalizing evidence that he certainly knew about it. We found out now 
because of documents released as a result of all the recent developments 
that there was a January 5th, 2017, meeting in the Oval Office in which he 
discussed the Michael Flynn wiretap.

This is tantalizing but inconclusive. We have learned about a number of so-
called unmasking but people who were authorized to do unmasking, but we 
don't know why they were doing them. So there's a lot more to learn, but it 
really has piqued the curiosity of all those Republicans who always 
wondered what Obama's role was.

BAIER: We'll follow it.

OK, we are going to take a walk down to Candidate Casino. And this was 
going to be the vice-presidential pick of Candidate Casino, who Joe Biden 
might pick. You have $100 in chips. You have to spend them. Steve?

HAYES: I'm putting most of my money in something of a long shot in Tammy 
Duckworth, the senator from Illinois, who I think has a good story and 
presents very well in public. I think she would do Biden a lot of good. 
Then $20 on Kamala Harris, $20 on Amy Klobuchar, $10 on Elizabeth Warren, 
and $25 on the field.

BAIER: OK, Leslie, you've got $100 in chips.

MARSHALL: I'm putting $40 on Senator Kamala Harris, $30 on Amy Klobuchar, 
$15 on Elizabeth Warren, and $15 on Val Demings, whose name has been newer 
at the table, but this would be a woman of color as well as a woman of 
experience.

BAIER: OK, Byron?

YORK: OK, very close to that actually, $40 on Kamala Harris, $35 on Amy 
Klobuchar, $10 on Elizabeth Warren, who's gotten some good press lately, $5 
on Catherine Cortez Masto, who would be the only Hispanic-American on the 
list, $5 on Gretchen Whitmer, and $5 on Stacey Abrams. Notice that the 
first four are all U.S. senators. Joe Biden likes that kind of thing.

BAIER: So I will take Steve's bet on the field to include Hillary Clinton 
and Michelle Obama? Steve?

HAYES: Wow. Wow. Michelle Obama, sure --

(LAUGHTER)

BAIER: That's the field.

HAYES: -- time to think outside the box, right?

(LAUGHTER)

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