doesn't jam them out in a fire hose. part of this is insuring that we sequence these. it gives the american people the proper issue, the proper attention that they deserve. part of it, if we put them all out on one day, they lose -- they get lost in the ether. i think he made these promises and pledges to the american people because they're important to him so -- >> on that day one list? >> that's his intention. he's very clear about that, yes, sir. >> shake up the leadership of cfpb before the director's term is up? >> no decision has been made on that. >> kristen welker. >> one on obamacare. has he finished his plan on obamacare? and then on nafta, can you just clarify. i know he's going to meet with the leaders of mexico and canada. has he started to have discussions with them currently about negotiating nafta? >> on obamacare, i think he's going to continue the discussion tonight with speaker ryan in particular at the meeting that he's going to have after the

reception. when it comes to the -- i'm sorry the other part was nafta? >> nafta. >> he discussed on the phone with both leaders his desire to reform it, but obviously his goal was to have that discussion when they come in person and i think i mentioned yesterday the foreign minister of mexico is going to come on the 25th, 26th to sort of set the table and have some of those meetings ahead of president nietes meeting here. >> now that he's officially in office, don't they -- >> well, again, this is his first working day. i think it's been pretty busy and rebust, not just today but in the 2 1/2 other days that we've had. you're going to see a lot more come out. you know, there's a lot of things that have to get done and a lot of things that we're working on as a staff to get him compared. he's going to continue to have

very, very robust weeks. >> one more thing. >> go ahead. >> congratulations. >> thank you. >> [ inaudible ]. my question, i have gone to a number of asian balls and most of those people are supporting president's actions but most important from u.s./india business council. >> question. question. >> his company is -- so my question, then where do we go as part of u.s./india business relations? >> look, thank you for the question. i think that whether it's india or other countries throughout the globe today, as i mentioned,

i mean, the goal is to figure out countries and markets that we want to access that benefit the american worker, help us grow manufacturing, the services industry, so that's one area that we'll continue to work with the prime minister there on. we have a very robust agenda on. thank you guys. it's been a pleasure. god bless. see you tomorrow. >> sean spicer, the new press secretary at the white house capping off a rather long first official news conference there at the white house today. it was wide ranging. they covered the whole water front, and there was some air clearing as well. >> we'll get to that. he said, i'm going to answer questions as long as you have them. you wonder if he'll keep up at this pace. >> we will see. it has been a busy day over all in washington. we welcome you to "closing bell." i'm bill griffeth along with kelly evans. the dow is down 35 points. busy day in washington. president trump having plenty of meetings.

eam eamon javers stepping in. >> reporter: that's one of the ways they reach out to the press core. that's what the reporters in that room want to do. that was a much different sean spicer today than we saw over the weekend when he came back out in the press briefing room in a statement and just lambasted the press today and much more of a buncular version of sean spicer but still making the point that the trump white house wants to be covered fairly. they want some positive news out of the press core, not just a negative narrative all the time. he also laid out some of the details what happened in the ceo meeting earlier today. we saw a host of top executives including elon musk, mark fields of ford motor company, other executives here at the white house meeting with druchbl early this morning. spicer explained earlier what donald trump asked of each of them and the time line going forward. here's a bit of that. >> the meeting was only supposed to last an hour.

it overflowed into the oval office for another who are. what ideas do you have? what is preventing you from hiring people? what regulations are stopping you from conducting more business? that's what his focus is going to continue to be is how do we create a tax and regulatory environment that grows the economy and benefits the american worker. >> reporter: he also said that this group will be reconvening in a month and after that they'll meet quarterly. the idea being here they can get those ideas from the ceos and get them in process immediately. donald trump said earlier today that if businesses want to break ground on a new factory they want to make sure at the white house they get the permitting and approvals they need to start with the factory immediately. we also know that union leaders will be at the white house this afternoon. spicer making the point in the press briefing that a lot of these union leaders didn't have access to the white house in the previous administration and a lot of the ceos also said they had never been in the oval office before. they are very much suggesting here at the white house they're having open arms to the business

community and politically it is -- some of them were very loyal to the clinton campaign but their rank and file would have voted for donald trump. so this is a political opportunity for this white house as well as a tactical and business one, guys. >> i was interested, he's having breakfast with the ceos of the big three automakers tomorrow as well. he is touching all bases in a big hurry here, isn't he? >> reporter: yeah, he's going sector by sector. we saw it start off with the tech meeting. i was noting earlier that it's so fascinating that elon musk managed to get himself invited to the tech meeting and to the manufacturing meeting today. we'll see if elon musk shows up for the automaker meeting tomorrow as well. he seems to be a regular here at the trump white house. >> don't put a chill up their spine, eamon. he's got enough industry to

disrupt. >> you bet. now to trump's executive orders. john harwood has more. bring us up to speed, john. it's bn a busy day. >> kelly, i want to run through some of the orders he's run through and taken today and on friday. donald trump signed an executive order ordering agencies to re-interpret obamacare to allow more flexibility on things like the individual mandate, on minimum required benefits, on medica medicaid. don't know the practical impact of that yet. he has instituted both regulatory freezes and hiring freezes. these are pretty customary for new presidents to do one or both of those things. finally he issued an executive order formally banning the trans-pacific partnership which we knew wasn't going to be continued or ratified by the new congress. donald trump said during the campaign he was going to kill that agreement. hillary clinton opposed it. sean spicer was asked whether

that leaves a void for china to assume influence that the united states was trying to sketch out with that agreement. here's sean spicer. >> i would argue that bilateral deals are what mostly china has been engaging in. that's something that the president is going to look to countries to engage with, but i think this is not a deal that was in our country's best interests. >> reporter: now, of course, china is pursuing a regional deal. i think most people who follow trade closely think very have a good chance of succeeding with the regional deal. question is going to be how much do the bilateral deals that sean spicer and president trump are talking about, how much can they offset any loss of u.s. influence or u.s. business opportunities, guys. >> all right. thank you, john. what do trump's plans meaning for the manufactured industry? >> joining us is marlin steel and steve liesman joins us from

head quarters as well. drew, i'm curious. clearly the president held the meeting with the ceos today. the question was, what's keeping you from hiring right now? what do you want to hear from the government to get you to start hiring more. what do you think he heard from them? >> first of all i think it's wonderful that on the first business day of his administration the very first meeting he has is with manufacturers. he really understands the importance of american manufacturing and its wonderful impact into the economy so he has several things that he's talking about doing, and one of them he discussed at that meeting today. the first thing is he's going to roll back regulations. he's talking about rolling back 75% of the regulations on the books today. there's about 300,000 regulations burdening american manufacturers. they're really shackling us. if we could get rid of some of those we could really grow and hire more talent. other things the president has talked about is lowering the tax rate so that we're competitive with canada, china, mexico and

germany. so there's a lot of exciting things that he's talking about incorporating into his vision that will have a quick impact in manufacturing right away. >> steve, what are the -- you know, you survey a lot of different companies. what are they saying about burden of regulations? >> a lot of them say it's something that's held them back. you hear stories in the energy business, you hear stories about hiring. look, it's going to be a matter of a cost and benefit analysis. you can get rid of certain regulations and you can also degrade the environment. you can get rid of certain environments and you can also disadvantage workers in that. it's no doubt in my mind that to some extent the obama administration went further. the question is how far and the question is which particular ones are the ones that will be -- go to the chopping block under the trump administration. i think what you find is there's a lot of support within different places when it comes to environmental rules or rules

that affect workers that really cross party lines. we hear republican senators, for example, talk about certain chemical regulations from the epa. i think it should be done rulely rule rather than this notion of blanket all regulations are bad and doing that critical cost-benefit analysis. >> steve, it is intriguing though that he's wanting to set up -- go ahead, drew. >> no, i agree with steve. there's no doubt about it, we have to have clean air. we have to have clean water. we have to protect our workers. those are givens, and, you know, i eat crabs from the chesapeake bay. my family swims in the chesapeake bay in maryland. >> there you go. i catch striped bass from the chesapeake bay. >> there you go. >> that's a lay-up. nobody's arguing that. let me give you an example. let me give you an example though. my bank because of dod-frank requires me to do a physical inventory for my loans so we have to spend $8,000 a year,

we're a small company, we have to spend $8,000 a year for a physical inventory, we have to hire an outside auditor to do this. let me tell you why that's so absurd. they only lend me on my receivables. my bank takes that folder, gives it to the regulator in d.c. and the regulator puts it in the circular file. nobody reads that. $8,000 total waste. we have a lot of regulations. >> i think there are definitely places where regulations have gone too far. i think dodd-frank and the way the smaller community banks have been required to comply with dodd-frank. i think there are questions about capital levels for the bigger banks, jpmorgans might be unshackled. i know you're not talking about this. it's worth thinking about as a benchmark. there are economists who argue that when you factor in the degredation to the environment in china from their growth, that

it factor's no growth in china. if you take the impact on livelihood, life span, smog, all the other degredation. so these things balance out in an economic kind of way. i think we should be very careful to think of both sides of the equation. >> before you respond, let me just mention one more -- yeah. >> what i'm saying is we can have reasonable regulations. >> i agree. >> protect the workers, have clean air and still get rid of a lot of paperwork that adds no value. another thing he's pushing is instant expensing. that's going to be such an exciting thing for american manufacturers. we can quickly buy the equipment and get the benefit. these are new tools that we could use to give our employees the benefit to be more productive. we're also talking about repatriation. he's talking about bringing home $3 trillion worth of cash sitting in london and switzerland. that money will be infused into the american economy. some of it, not all of it, much of it is going to be used to make new factories.

it's going to be a very exciting time. >> we will see what happens. steve, thanks. >> thanks. >> i don't know how the fishing is in chesapeake bay, but i hear it's pretty good. they do a lot of it there. let's get to the closing bell exchange for monday. ken morase from money matters is joining us today. cnbc steve grasso is sitting here next to us at post nine and rick santelli checks in from the cme. here we sit down 44 points on the dow. the s&p right now is having its worst day of 2017. it's down eight points at the moment. what's moving this market? >> you have to look at it. everyone came out. you had enough of market motivation coming out of that surprise victory for donald trump as president of the united states. the market ran up 10%. everything that wasn't tied down ran up in the marketplace. er one had that consensus view

buy the election, sell the inauguration. now people are afraid to step in and buy the market. they want to give it time to breathe. i think we can all agree running up into this event and after the inauguration where there's been nothing but negative press and negative headlines coming out of the inauguration, people kind of want to sit and hope for the best, but for me along with the prior guest, to hear him sit down with practitioners, huge brains around that table. >> right. right. >> is very, you know, positive. and i think that the market will see that. the market has had every chance to sell off. it hasn't taken advantage of it. i think ultimately the market will move sideways, lower. >> it makes sense because the president has talked down perhaps, you know, the benefit of having it be quite so strong or is that related to some kind of weakening here? >> yeah, i don't think it has anything to do with the president. sure, maybe the day he said it.

some of the algorithmic phrases catch on the market move but there are much bigger fish to fry. if you look at a ten year maturity in canada, australia, u.k., italy, germany, the u.s., they're not all the same but the trends how much they moved up the recent low yields, that is the same. at the epicenter of that is all