we are following three major developing stories for you at this 5:00 a.m. hour. first, rescue and recovery operations are underway in wilmington, north carolina flood waters continue to rise in the wake of hurricane florence we are live on the ground with the latest. incredible pictures and video out of southeast asia. typhoon slamming into hong kong. you are looking live at washington, d.c., where today the president could announce tariffs on $200 billion worth of imported chinese goods

we have information from dmpt c. and "worldwide exchange" begins right now. well, good morning, good afternoon, good evening and welcome from wherever in the world you may be watching. i am brian sullivan. thank you for watching here on cnbc stock futures are little changed to begin your trading day and week instead, the focus rightfully on not one but two major storms one here, one in asia. first to florence. the storm has been downgraded now to a tropical depression but the threat is far from over. heavy rains continue to slam north carolina let's get to nbc's kaylee dionne >> the average walking speed is about 3 miles per hour this storm is moving at 2 miles per hour for a long period of time good news to start off this monday morning, it is picking up

its speed. it's going to make its way up closer into the appalachian mountains and turn off to the northeast. this will eventually bring the rainfall that's been pounding some of the same locations finally out of here by later today. still, northern south carolina and north carolina still dealing with some of the heavy rainfall. what you're looking at, the reds, yellows, that is a high intensity rate that is falling it has seen so much rain let's talk about how much rainfall that they've seen swansboro, north carolina, over 30 inches of rain. 25 inches in morehead city, north carolina coming up at 6:00, we'll talk more about the records back to you, brian. >> we will see you then, kaylee. thank you very much. florence's rainfall is not only raising rivers, it is

making rescue and recovery efforts all the more difficult because many roads are simply too dangerous to pass. contessa has more on this story. >> where the heart stopped off of i- 5. this is going to hamper the movement of resources to get to these flood damaged places to say nothing of the fact that the evacuation orders in south carolina have been lifted and people are trying to get home and even when they get off of i-95 as they're forced to do, you can see the lines of utility trucks doing that, then they encounter massive road closures on local highways and local streets as well. let me show you the map from north carolina that shows you more than 100 roads closed

every black dot represents the road clothes >> i have resourgss frrnl i-95 the rivers aren't expected to k continue yesterday we saw walmart tractor trailers driving down main street it's something that they just don't see there. meanwhile, in south carolina areas that have not seen a lot of weather are reopening the port of charleston so we should see a lot of movement of cargo through the port of charleston later today, brian. >> we're going to get here, contessa i know you're right up against the north carolina border. if you were to get on the highway? you know, they haven't close the

the down the city limits of w l wilmington and north carolina is at risk. you can make your way around but it's like trying to work a jigsaw puzzle twisting and turning seeing how the pieces fit together how you can get from one place to another yesterday, brian, one of the people we met here in florence that is normally a two hour trip to get to charlotte is suddenly taking between 5 and 7 hours. >> wow it's not that far. contessa brewer, thank you contessa talked about the port of charleston. joining us is jim newsom he runs the port of charleston he joined us on friday thank you once again for joining us it's been a long few days. you've got snips port now. are you still on tomorrow.

we'll open our gaelts at 4:00 this morning in charleston so we'll be working as normal rail service is working today. the weather and that area of north and south carolina are expecting more rising waters >> charleston is southeast of where contessa is. all of the truck drivers that have to get to their jobs, you're south of there, but are they able to get to work >> yeah, most of our truck drivers are based in the charleston area or base the 234 the greenville area. i think that will be possible. dillon may be the exception.

there was the closure on 95. we plan to open tomorrow there. >> the port of charleston is not just ocean ports, it's rail traffic. what are you hearing about the state of the train -- those peoples were inspected >> as far as dylan, the plan is for the first train to run on wednesday. there was a lot of flooding around our facility and there might be access issues that might be the one exception to the fortunately good picture we've experienced. >> the port of wilmington and

morehead are closed until wednesday. they've got some damage there. they're doing some inspections over the next couple of days wednesday maybe is the best case scenario the ports are important for the southeastern region. a lot of things like ought toy parks. if the port of south carolina needed to pick up some of that excess capacity to keep things flowing in that region, would you be able to >> again, when's there a lot of needs. we hope for the best for them in whatever we do they've had so much rain >> jim newsome joining us on cnbc we appreciate it best to you, your employees, your family, everybody down there. thanks so much. >> thanks, brian. florence is not the only major storm in the world we are also following a developing story out of

southeastern asia as a super powerful typhoon slamming into hong kong and main land china. cnbc's emily tan is live looking at the storm known as manka. emily. >> reporter: thank you and the government has now declared that this is the most severe storm to ever hit hong kong in its however. the highest signal raised was a 1015 bind wp -- we had 1500 trees uprooted as people got back to work it took quite a bit longer because of all of the divergence buses, ferries and trains are still unable to fully operate because of all of this, the

blockage in the streets. flooding and some electricity outages as well as water outages in parts of hong kong with the authorities saying gradual resumption will take some time all schools have been suspended today and that will be the case tomorrow as the education department has just announced. trying to clear the areas. >> emily, from what i understand you're in your apartment if you wanted to go out, are the famed escalators. >> yeah, well, today things have gone back to norm ma'am. yesterday hong kong was locked down i am in the mid levels just over my shoulder is the

very famous ifc building brokerages and i know one of them they're trading for was flooded. as a result of that they had to go in and make some contingencies. the stock market is up and running. it's 5:00 p.m. here in hong kong people are trying to make their way home may be a slow one going home as well because the roads need to be clear from all the trees, the glass, and the debris from this storm. >> we can see here in the states how windy it is just there, emily tan. be self, be well from be r weather to reterring the storm. proump is expected to announce new tear ris will fly into the united states.

eunice un with where we stand. >> will, the tariffs could be less than 10% and bayening has already promised quick retalleyation. the threats could scuttle the plans by the u.s. treasury department to revive trade talks. the chinese government has been finalizing its plans to send the vice commerce minister to washington to set the stage for higher level negotiations between the vice premiere and the u.s. treasury secretary steven mnuchin "the wall street journal" quoted a senior official saying china won't negotiate with a gun pointed to its head. the foreign ministry addressed the speculation saying china firmly insists that equal talks on the basis of mutual respect are the only way to solve trade issues brian, chinese officials have repeatedly said in the past that they do not want to negotiate

under threat thank you very much. coming up. a sign of the time we'll tell you who bout the time for 1 t95 one firm is projecting $1 billion lost in business we'll be back right after this . ♪ ♪ so they can look up and see the place they live. ♪ ♪ and prove that the real world beats a post. ♪ ♪ ambitions live everywhere. synchrony helps make them happen with customized rewards and financing available at over 350,000 locations. synchrony. what are you working forward to?

welcome back futures are lower. the iconic "time magazine" has a new home. >> i guess now he can't be time's person of the year. conflict of interest meredith corp is selling to sales force co-founder mark beniop and his wife lynn the benioffes are buying time as individuals. it's unrelated to sales force. the couple won't be involved in day-to-day operations or editorial decisions. they are the latest wealthy people from the tech world to buy a news publication jeff bezos, of course, bought the washington post in 2013. maureen jobs powell, the wife -- powell jobs, rather. the wife of steve jobs bought a majority stake in the atlantic

last year. in a tweet mark benning has always been in the u steek issues that affect us ul meredith which publishing better homes and garden they put time, fortune, money, sport ip lus straighted up for sale time has been slashing circulation as it tries to cut printing costs and expand its digital reach. they had a really amazing cover story this week about teachers and how they sell their blood in order to make ends meet. teachers who make nothing and pay for their students goods.

>> bertha, we'll see you in a few minutes. amazon, daily amazon update. amazon has launched a new section on its site called store front. it will only list items for small and mid sized businesses. we are continuing to follow the latest on the aftermath of hurricane florence flooding the biggest threat for coastal carolina many businesses will remain closed today and this week as they assess damage your next guest says a local business lost $1 billion in sales due to the storm joining us once again is evan go

gold we appreciated your insights how are businesses able to assess the impact of this monster storm? >> we are estimating it's in the billions of dollars. people weren't able to get down there or shift their purchasing or buying patterns so right now it's all about making sure there are people that are safe and can try get back to some accepts of normalcy >> what do you think is the big i was risk of the story. if you if you want to, it simply makes it not possible. >> yeah, that's skily right.

they don't want to put them in harm's way obviously the supply chains, while those items are stage. >> andy: ready to go right now it's still a little bit of a wait and see until things can get back to operational. we're very much in a state of making sure life and property is in a good state. >> this could take a while, i would imagine, to unpack and understand exactly the extent of the damage because we know there's a big difference between a wind event and a water event water can take a long time to do damage. >> yeah, that's exactly right. if you don't have flood insurance which there could be a longer term impact there you have got to take care of that before you worry about

discretionary purchasing the impacts are just getting started and being assessed >> when it warms up, the mold issue could grow as well summer is not over thoughts with them evan gold. still to come, the brexit backlash a major new player is calling for a vote on the future of the u.k. in europe. scores and more. if you went to bed early last night, don't wryor we've got you covered. highlights from the giants and cowboys game about people. a story people who rely on us every day to deliver their dreams they're handing us more than mail they're handing us their business and while we make more e-commerce deliveries to homes than anyone else in the country, we never forget... that your business is our business the united states postal service. priority: you ♪

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welcome back the dow down france is down about .2 of 1%. staying with european news, could the u.k.'s plans to leave the euro be at risk? london mayor is calling for a doover he said theresa may has been mired in doubt he calls a damaging path let's get a check on this morning's other top headlines including the deadly shark attack in massachusetts. cnbc's frances rivera in new york with more >> brian, it's been decades since that we'll get to that in a moment.

there were calls on both sides of the aisle to delay a vote on brett kavanaugh. this as the woman came forward in the washington post she tells a paper during a high school party kavanaugh pinned her to a bed, groped her and tried to remove her clothes. when she tried to scream he put his hand over her mouth. leading democrats and bob corker and jeff flake called for this week's vote to be postponed. kavanaugh has not yet commented on the report but he did categorically deny the allegations last week. now to the shark attack, cape cod beach remains closed av a man died in a rare shark attack 26-year-old student arthur medici was on a boogie board about 30 yards off shore and a 33-year-old runner from kenya set a new world marathon record in berlin. he ran 26.2 miles.

he was more than a minute faster than the previous winner and five minutes ahead of the previous winner in sunday's race i hope this guy is doing absolutely nothing, kicking back, pizza and beer. >> do the math on that that guy ran 26 mieshlgs faths jer than i could run 20 feet that is unbelievable. >> it's a -- >> going to break two hours. frances rivera, thank you very much still to come, the three ts, trump, trade, tariffs. if the president does what many thought he would never do, will the markets finally react? jimmy p is here with that. how far would you go for free pizza for life? would you get a tattoo guess what, dominos offered that but it backfired in a big way. we'll tell you how coming up your joints...

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happening right now, rising flood waters posing a problem. rivers continue to rise from florence's deadly rainfall. you're looking live in washington president trump could announce tariffs on $2 billion in chinese goods. and just how far would you go to get free pizza for life? would you get a tattoo the big promotion dominos had to ditch due to overwhelming demand they made a [ audience booing on this monday, september 17th

you're watching "worldwide exchange". welcome back good monday morning. thank you for being with us here on cnbc. i am brian sullivan. dow futures are off just a bit off about 30 points right now, maybe 40 points. not a big move s&p and nasdaq futures a similar story. we'll get more on the markets and your money in a moment let's getdown to the top business story and that is trade. president trump today likely to announce new tariffs on as much of 200 billion eamon jaffe ejavers is live wite eamon? >> reporter: decision to do the $200 billion in tariffs on chinese goods was official we'll wait and see when that announcement is expected could come today or tomorrow meanwhile, the white house not saying anything officially about all of this. behind the scenes the pieces are coming into place.

here's the statement the white house put out on friday, sort of a place holder kind of a statement, if you will, not really confirming or denying anything the president has been clear that he and his administration will continue to take action to address china's unfair trade practices. we urge china to address the long standing concerns raised by the united states. so as a reminder of just how we got here, take a look at some of the key dates here in this tariff process that's been going on now for several months starting with the $50 billion in tariffs that the united states has in place already back on june 18th. beyond that 50 billion a piece july 10th was when the u.s. trade representative initiated this process and then back on september 6th that's when the official comment period ended. a lot of people, stakeholders and shareholders weighing in on the decision to move forward

with tariffs, pro and con. that ended september 6th that clears the decks for an announcement as i say, brian, a senior administration official saying a decision has been made as of yesterday and now we can see a rollout today or tomorrow here in washington. >> eamon, i want to ask you to stick around let's bring in jimmy fudukoukis. a cnbc contributor i've seen this headline out incorrectly in many places in the media, which is 200 billion in tariffs it is not, it is tariffs on 200 billion, 10 to 20, upwards of what they say. if these tariffs are enacted with that amount of money rough roughly about the size of this enough to derail the economy >> i don't think so. markets don't seem to care too

much in a way it's furthering the odds that we're going to see more the overall effect is likely not going to put the economy into recession. there's going to be a lot of losers and for those companies and those workers, this is a lot of pain and i would expect there to be more pain because there are going to be more tariffs this will not be the end the issue is are we going to see ten%, back up 25 points. >> jimmy, that's my question you've talked about this not being the end. i'm wondering certain hit for tap tariff explanation, how do these end and where do you think there could be an off ramp for the united states and china to stop this? >> if this were like the

episode, the off ramp would be like what the chinese proposed which is more purchases of u.s. goods, agriculture, energy, lower some tariffs maybe doing something about joint technology that might be where the off ramp is but i don't believe so. you have thighs two close will he be disentangled this has not been done before so there's a tremendous amount of uncertainty. there is not going to be an off ramp, i don't think because of some deal. >> the president's goals, the white house's goals are ostensibly twofold, punish china because of their theft, get them to play on a fair trade playing more and creating more jobs in

america. will this work in solving either of those two issues? >> listen, i think if the goal is to sort of diem if a size china and the supply chains there might be success it can go elsewhere. i think getting iphones built in california, that's not going to happen i think the supply chains will change i think overall the big trade deficits are not going to change they'll be redistributed to different countries. the u.s. is going to focus a lot of this on the national security implications, the supply chain implications where china is also going to focus on u.s. technology these things are not going to be solved tomorrow. these will be longer term iss s issues i remember 20 years ago how people were screaming how the

mexican assembly men were stealing american jobs they left mexico and went to china. we know capital is going to go where it's cheapest, flows the most freely he said. so the administration gets what it was those jobs do not come back to the united states. they simply go to jimmy's point, to laos, bangladesh. >> the question is how can you make the labor cost of the american worker -- >> you can't. >> -- competitive. apple, right. >> he knows apple will be impacted but he wants to see apple make the products in the united states. how can he make that competitive around the world does that envision a tariff regime on the countries across the world? is that where we have to go in order to make this work?

the administration says each step of the way, this is a threat, just for negotiating purposes now it's on the verge of happening. you have to understand how you stop it and it's not clear we know where this train is going. >> is there a pain point for stalks the stop the pain china is down 25%. what's our pain point? >> theoretically, chinese markets, that will have a spillover effect i'm not sure what those are and when they happen i think if we get the full package, they're not 10%, they're 20%, that's where money

i would expect would have an impact i think the administration is aware of the impact of the sort of larger tariff numbers it seems to be focusing on 10% both for the market implications as well as the impact on u.s. consumers. >> we have three levels, eamon and jimmy, 10%, 15%, and the full magilla those are the three official amounts. >> those are technical terms. >> if we get the whole magilla, thank you so much. time for this morning's top trending stories bertha combs has it. talk about the full magle le la. the space kpls tweeting out, two concep concepts these are being built to fly around the room but mucks might have bigger dreams for the

prototypes he also said how far would you go for free pizza? dominos was offering people free pizza for 100 years if they tattooed a prominent body part. >> what does that mean >> not too private the pizza chain was overwhelmed with demand. people just don't care they'll put anything on their bodies they had to pull the plug on the promotion. dominos capping the deal to the first 350 people. >> bertha, i have a lot of questions. hopefully nobody went the full magilla. if you're listening, i know we have a lot of viewers listening on the radio i wish they could see those pictures what were some people doing with the logo they're making it artistic. >> it's like a bloody come to

notion radio in half >> it's interesting to me. >> what's that >> i'm not a tattoo person so we're not part of that tribe, however -- >> you're not inked up. >> no. no. >> not yet. >> i think not having a tattoo is the new having a tattoo. >> when i'm 80. >> how's that rose on your neck going to look at 80, you know what i mean? >> if you get it done when you're 80, then it's hot. an nfl player calling it quits yesterday and how he did it has social media buzzing this morning. buffalo bills cornerback vonn tai davis reportedly retired during halftime. not before the game, after the game, during halftime. yesterday's bills chargers had a

big surprise after the game davis released a statement saying i should have figured that out i guess he just found out and he just couldn't take it. >> i think he just realized that he was putting his body at risk. basically it sounded like my body is not ready to be hit like this the bills are not good terrible. >> i think they did fine without him. it looks easy but it's rough. >> teammates were not happy. >> no, you make that decision beforehand. >> 5:30, 6:30 this morning, group discount. >> i think i'll be retiring before them. >> shamrock on my eye. bertha, thank you. if you fell asleep as we did before the end of the sunday night game, we've got you covered. i want to see what happened. the dallas cowboys defeated the cowboys by 20-13 that was the final score

giants beginning their year 0-2 for the fourth time in the -- still to come, the latest on florence rising flood waters posing a major threat to everybody in rtcalinoh rona we have a live report in wilmington the hardest hit when "worldwide exchange" comes back what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers)

what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley

comfort. what we deliver by delivering. good morning and welcome back 5:44 here on the east coast. the good news is this.

hurricane florence is now tropical depression florence but the threat is nowhere near being over storm continuing to linger and hover above north carolina jackie deangeles is in the hardest hit city in wilmington, north carolina jackie. >> reporter: good morning, brian. the rain has been on and off, intermittent the problem here in wilmington right now is the flooding. this city in some senses is becoming its own island if you could possibly imagine that. that's because of the rain accumulation almost 24 inches of rain and the flooding that's coming off the cape fear river so imagine the accumulation, imagine the river rising, imagine at high tide what happens. we were out traveling out and about yesterday and we saw massive areas of flood when the tide goes back in, you go back to the same areas, they recede but then it comes back. behind me here in this flood

zone, i'm standing in a foot of water. two feet, four feet even a bit deeper than that the governor of north carolina said if you left and evacuated wi wilmington it is not safe because of these flood points also we are looking at the interstates. they are closed. people are having a hard time traveling in and traveling out, brine. hurricane florence, it may not be raining now but this is far from over. >> jackie, when is the last time you had power or you saw somebody around you that had electricity? >> electricity right now, the good news is this. 1.4 million lost power according to duke energy about 1 million have sign spots -- it's very hard to come

by. >> jackie deangeles and time, we'll see you in a minute. let's talk more about the financial impact of the hurricane. joining us is stephen weissbart. i wish we were going to see each other on better terms. any way right now to itch shurd losses >> i've seen them in the 3 to $10 billion. nobody has filed any claims. is that because most of them are uninsured? >> most have flood damage rather than wind damage flood is insured only if you have a national flood policy or some business policies >> any way to estimate how many? we're seeing video of these neighborhoods absolutely ravaged. how many people spla had the

insurance. >> particular pick 25 or 30% of the home ners would vo it. >> is it so throw. >> >> the federal government subsidizes it so it's not even a full price i think most people assume it's never going to happen to them and it's an unnecessary expense. >> there are going to be thousands it not tens of thousands of families who realize their home is effectively ruined and they don't have insurance there will be a huge push back you realize that. >> there has been every time there was in harvey. houston is a city that of course floods a lot you would think virtually everybody there would have flood insurance. didn't turn out to be true

>> how do we fix that? let's say your neighbor has flood insurance, you do not. your neighbor's house is rebuilt, your house is abandoned, filled with mold. the whole neighborhood is functioning. everybody loses in that scenario, 1250e67b how do we fix that >> there are a number of suggestions. one of the real problems the private insurance area has is the flood maps are not good. >> they're old, they're bad. >> if you price this you need to understand the risk exactly. we have to have more people buying this stuff. maybe if we included it as part of the general homeowner's package. >> yeah. >> that would raise the homeowner's premium and change the decisions about what people

would do in terms of their residence but that would be another way to get some awareness. >> 3 to 10 billion we appreciate your time. the insurance institute coming up we're going to talk about trade as this busy monday comes back stick around

trade front and center today. president trump as early as today could announce new tariffs on about up to 200 billion where the chinese goods. futures are a little bit lower but, again, not reflecting a change we're down 40% let's bring in matt maley. matt, i guess the question we addressed earlier, the question i'm going to ask you now and the question everybody wants answered is why aren't the u.s. markets, chinese markets are, why aren't the u.s. markets

reflecting any kind of risk or fear on this trade fight >> well, i think it's because the people just think it's not going to turn into an all out war and the problem with that, i think the complacency is out there is that this with china can be done. the political will for the president is much stronger there because people on both sides of the aisle, whether they be in washington, d.c., or wall street agree china has been cheating for a long time and something needs to be done he can be more firm in what it takes to resolve a situation on that sides of the equation, china doesn't have to worry.

so i think this issue is going to last. i don't think it's going to turn into an all out full blown trade war, it can be damaging to both economies. therefore, the markets are a little too complacent. >> nobody is saying the tariffs don't matter we're going to be live in huntsville, alabama. there is a real world impact but from a macro perspective, are the numbers still too small? is $20 billion that's not a whole lot are the numbers still too small to shake and rattle these equity markets which are being buffeted by or being pushed, i guess, by a very strong overall u.s. economy? >> well, i think they can because, again, people are too much with the extremes we're talking last week about the fall of lehman brothers. we don't have to worry because we put things in place where we

don't have to worry about another banking crisis that doesn't mean -- people when there's so much economy, how much stronger can that get and it would be enough to cause the stock market to come down. i'm not saying it's going to cause a major bear market but it could cause some of the growth it's funny how people have been moving into more defensive groups and they've been able to outperform that's something they should continue doing. >> is the bigger risk that rotation and not any kind of escalation to the trade fight? >> i think so. for me when you have markets whether it be the trade war or problems in emerging markets, european banks, there are a lot of things that could disrupt our

u.s. market. usually when you move perfo performan performance. right not by a lot the health care looks quite good on a longer term basis people can play that especially when we're seeing somebody's technology stocks lose whether it be micron, facebook, et cetera being knocked off kilter a little bit playing defensively seems to be working. >> matt miller, thanks for joining us. time for your morning rbi. hearts and thoughts continue to go out to all of those impacted by florence. we don't want to lose sight of what's going on elsewhere in the world. a massive typhoon impacting asia nf we'll continue to monitor.

a lot of that going on stay safe. an flina strong. thksor watching. we'll see you tomorrow from huntsville, alabama. "squawk box" is next put your data to work on the cloud that drives business. the ibm cloud. the cloud for smarter business.

it's monday, september 17th

already, 2018, and "squawk box" begins right now live from new york where business never sleeps, this is "squawk box. good morning, everybody. welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. dow futures indicated down by 41 points s&p futures off by 4 nasdaq off by 18 it comes after a strong week for the markets last week. you have some concerns circulating about what's going to happen with the trade talks from china talk of tariffs on an additional $200 billion goods being considered this week by the administration. we'll talk more about that in a moment again, red arrows today but nothing drastic just yet overnight in asia, japan's