it is credit quality you're seeing in terms of loans. net interest margin, difference between short and long rates. liz: okay. >> last thing you look for within financials price to book. valuation. [closing bell rings] price to book is 1 1/2 times. liz: we have to run. there is the bell. christopher, chris. that will do it for us. here is "after the bell." david: thanks very much. stocks staging a remarkable comeback in final minutes of trading. dow closing down just about 80 points on the dow. it was down as much as 349 earlier in the trading day. the s&p 500 a little too close to call but nasdaq ending firmly in the green. so that is good news. i'm david asman. melissa: i'm melissa francis. this is "after the bell." more on the big market movers, first here is what else we're covering during the very busy hour ahead. full-court press. members of the white house defending the president's plan for tariffs in fox business. in the press briefing room this afternoon, sarah sanders saying some countries could be exempt.

that's new. markets climbing on that. rumors swirling about the resignation of gary cohn. what it could mean for tariffs and who could replace him. attorney general jeff sessions slapping california with a lawsuit over the sanctuary state status. we'll look how it plays out. among our guest, republican congressman tom mcclintock, judge andrew napolitano, ambassador john bolton, ron paul with a strong warning about markets. wow, a warning about markets. david: you love ron paul. is something saying this is about negotiation. i think melissa francis yesterday. check out stocks are ending today. on the floor of new york stock exchange. nicole, we saw it all over the place. right after gary cohn it was announced he was is hing down last night, we saw futures go down. they stayed down. the market began the day down. why did it make a comeback? >> ultimately they had time to digest his departure.

they still believe in the trump administration's long-term plans. everybody was worried about gary cohn. he is a stop economic advisor. they knew at some point he would be stepping down after the tax overhaul. we know he wasn't particularly fond of tariff talk right now. we saw the markets sell off. what the traders found very interesting, one of the reasons we bounced back, while they were buying them. they bought the dips. they held the support level. managed to come up off the lows. that being said, the dow finished down 82 points have being down 350 at opening bell. s&p down fractionally. russell has nothing to do with the trade wars, most of its revenue here in the united states did well. russell 2000 actually finishing up 3/4 of 1% for the small caps. what weighed on the dow is caterpillar and boeing. that is something we're watching closely, the trend. pay more for raw materials. they were 25% of the loss. financials got hit today. look at names like goldman sachs, down half of 1%.

off the lows. we got our fed beige book report which shows growth, which shows obviously inflation and further interest rates hikes. last but not least, we saw the story of broadcom pledging 1 1/2 billion dollars, investing in u.s. engineers. this is hopefully their deal with qualcomm goes through. broadcom from singapore. there is lot of regulatory push back. back to you. david: my favorite part of the beige report. we have shortage of workers in most industries in the united states. incredible. market doing very well, economy, that is. melissa. melissa: not backing down. white house answering questions this afternoon about president trump's tariff plan, gary cohn's decision to step down as economic advisor. our own blake burman live at the white house with the latest on this blake. reporter: melissa, good afternoon to you. the white is house is expected to release, president expected to release the tariffs at some point in the coming days. the official line by the

white house this will be done week's end. there is report this will happen tomorrow at noon though i would caution considering impromptu nature of the announcement last week from the president, a bit dubious of assigning a time to this. in any event the treasury secretary steve mnuchin did make it seem earlier today that this was coming imminently. >> no, we are definitely going to end up with these tariffs and we're going to roll this out very, very quickly. there again will be a mechanism where to the extent the president wants to give waivers, the president can do that. we are moving forward with these tariffs and that's the plan. reporter: the president and his administration had been saying for days that canada and mexico would to the be exempt from the steel and aluminum tariffs unless there was renegotiation of nafta that resulted in a fair deal. however within the last hour or so the white house appears to be altering that position. >> you remember the president's

tweet from a couple of days ago, where he said that subject to satisfactory renegotiations with canada and mexico he would consider letting them out of the tariffs. he it clarifying that just a little bit to say, provided that the national security interests are well-served by the negotiations. the same would be true of perhaps some other countries. reporter: meantime on the economic front as well the search is underway here at the white house to find a successor to the president's top economic advisor, gary cohn. some names that have been floated to me, david and melissa, as possible replacements include larry kudlow, andy puzder and shakira knight. you might know the first two names, the latter, knight is a top deputy to gary cohn. she is one of the numbers crunchers in the tax reform bill. by the way, the top trade

advisor to the president, peter navarro, one of the top trade advisors said earlier today on couple different interviews he is not being considered as a successor gary cohn. he is on the polar opposite of the spectrums when it comes to this tariff debate. david, melissa. melissa: no doubt they are far apart on everything. david? david: here for his perspective, mr., doctor i should say, dr. ron paul of the liberty report. dr. paul, gait to see you. what do you think of the tariffs? >> you know what i think. a tariff is a tax. i don't like taxes. it is a bunch of economic planning. i don't like economic planning. nobody seems to ask where does the president gets power to put on a tariff to do all this mischief? economic planning and too much power in the hands of a president. if you defer and take it away it goes to the world trade organization.

david: we don't want that. bureaucrats overseas. bureaucrats here are bad enough. the constitution does give the power of tariffs to congress but that was amended over the years, decades ago. president in his own words is very clear, he says it is about jobs. treasury secretary steve mnuchin was making same case to skeptical maria bartiromo on fbn earlier today. let's just play the tape. >> do you worry while you're trying to protect hundreds of thousands of jobs in the steel industry you're threatening millions of jobs in other industries? >> the president is very focused on jobs. as you know it is his number one priority. the president is not going to do anything that creates job loss in these other areas. again, we have a thought-out process. david: dr. paul, you have 140,000 jobs in the steel industry that is being protected

by these tariffs. and you have about six 1/2 million jobs in companies manufacturing jobs, that use steel, that might be hurt. do you think in the net, in the end, jobs will be helped or hurt by the tariffs? >> i think they will be hurt. knows numbers never pan out. if you take it from one, you might lose it to somebody else. so i think there is always a cost and most economists have over the years indicated that tariffs aren't good for the economy. it doesn't create jobs t may create or preserve a job in a certain industry having trouble but if there is trouble in an industry, we worried about this back in the 70's, our automobiles weren't as good as japanese, we had to protect them. you don't want to protect something that is not efficient. or too many regulations or due to the monetary policy. so you don't want to protect them, protect the mistakes. that is why bailouts are bad. it is a form of a bailout.

a lot of people talking about that during the recession. why allow the people who are making all mistakes essentially that's what we did. david: let me go to the source, the president himself tweeted out earlier from bush one to present our country has lost more than 55,000 factories, six million manufacturing jobs and accumulated trade deficits of more than $12 trillion. last year we had a trade deficit almost 800 billion. bad polys and leadership. we must win again. one of the worst trade deficit years we had in decade was back in 1984. in that year, when we had such a bad trade deficit the economy actually grew 7.3. so it is not clear there is a direct relationship between trade deficits and growth. >> yeah i think there is a lot of misunderstanding about trade deficits because what you look at to find out what happened, there is always a balance of trade. now when we have a monetary system like we have now, we get to print the money, you will

have a trade deficit by its very nature because we have the cash and we buy stuff. we get a food price on it. good price. it is not static like we lost on that. the chinese and others do us big favors, they buy up our debt. we literally export some of our penalties and export inflation and it is not quite like the trade deficit. i think what you have to look at is the total picture of the balance of trade, where it is going, what happens when you have a central bank manipulating interest rates and currency which encourages debt. if you patch up some things it doesn't deal with the big problem. that is debt. david: you know what i would love to have, dr. paul. i would love to have five minutes to talk to you. you and wilbur ross in a debate. that is a thing of beauty. some day we'll get that done. >> there you go. david: dr. ron paul. nice. >> nice to see you.

melissa: we have danielle dimartino booth, pardon me. former federal reserve advisor. bob cusack, "the hill," editor-in-chief. what do you think of everything that went by there? >> dr. paul is different type of republican than republican on capitol hill. he clashed with republicans when he served as his son does in the senate. he views it way of a lot of republicans do, this is a tax. interesting thing if you look at "qunnipiac poll" from yesterday, these tariffs are not popular. 50-31 against. however republicans overwhelmingly favor them, even though republican lawmakers like them. democratic lawmakers, 70% in the polls. polls are different than lawmakers. this divide both parties. melissa: danielle, when you look at tariffs in a vacuum i would think everyone would hate them because we've proven before it doesn't make any sense.

you look at context why folks trying to negotiate for better trade deals with all of our trade partners, this as the stick to do this i think the answer to the question would be really different. what would you think? >> i think markets gave us the real answer this afternoon. once we heard about waivers, exemptions, i think markets started to sniff this out in yesterday's trading. this really was a way to kind of force canada and mexico to come to the table to be realistic about nafta going forward. melissa: right. >> that the tariffs themselves are really focused on countries that are the true violators who directly or indirectly violate trade terms, and need to be penalized in some way. again i think that the massive turn around that we saw in the stock market today is reaction to the white house possibly being a little bit more calculated than what was originally assumed by the markets. >> calculated than what everybody thought. jonathan, i heard liz claman in the last hour, hang on, ask

wilbur ross, is this the way to get it done if you want to renegotiate trade? he said, look what happened, we attracted everyone's attention and it is getting everything started. >> look what happened when bush tried this with steel two decades ago. steel industry lost -- melissa: talking about actually going through with it as opposed to being start of a very tough negotiation getting everyone's attention is what wilbur ross basically told liz claman. >> yeah. what getting everyone's attention does, i'm speaking from an investor's perspective, is introduce a whole new realm of political risk into the stock market because now you've got politicians deciding at whim. we're told that the president like 25% for steel because it was nice round number according to reports. so we have presidents and regulators deciding at whim, what will be the expense for zillions and zillions of dollars worth of commodities in this country. it doesn't make things less arbitrary and less confuse,

melissa. it increases volatility and increases uncertainty because the government decides how much commodities we'll buy. melissa: you're talking about the end point. bob cusack, the president negotiates deals, goes on car lot, you want $30,000 for your car. i will take it off your hand and you give me $10,000, the guy goes what? that is where he starts things. that is where he starts. >> that is what he started on corporate tax cuts, 15, 20, eventually got to 21. trade will not stop here. with gary cohn out, markets are rattled, wilbur ross has more power. some people like that. some people don't. >> now the people line up for the exemption. so i can only liken it to -- melissa: what do you have to do to get the exemption? what do you have to do? you have to negotiate nafta. redo their trade deals. they line up for the exemption. >> the companies are lining up. >> i think what we're seeing

here is something that it is extremely difficult to get used to. we are seeing donald trump's negotiating tactics live. melissa: yeah. >> we're seeing cronyism live. >> to jonathan's point this is very uncomfortable for investors because you don't know what is coming next. this is how the man manuevers and mnuchin i think came in today purposely and tried to set some calm into the discussion. melissa: the other way to negotiate is just give away the farm. that is what we have been doing. jonathan, i give you final word because you're the most distressed about this. >> i think, i wonder if you understand trade? melissa: wonder if i understand trade? >> i do because we benefit tremendously from trade with china and look at everything you buy on amazon. melissa: no kidding? i don't want the price of everything to go up for everything one in the entire country. >> why are we getting hine tariffs again. melissa: i am not, i said tariffs are horrendous. we don't want tariffs.

i don't think that will happen. >> i agree. melissa: he already said this is the start point. i mean it is very clear. jonathan, you're the one that is accepting the initial starting point as the end. that has testify been the case with him. talking about, anything that he has put out is outrageous starting point. i will build the wall from sea to shining sea. yes it will go through the ocean and over mountains. of course it's a wall system. that would be stupid to go through the water ignore other places. he starts at a crazy spot because that is how you reset a negotiation. they teach you that in business school. to -- go ahead. >> are you saying don't believe a word the president says. i am many steps ahead of you. melissa: these are negotiations, these are tactics. this is the way everybody in new york negotiate something. you negotiate the price of a hot dog. whatever it is, i'm not paying that. >> for the record he is negotiating by attacks against american consumers.

melissa: you're assuming it is going through. >> negotiating tactic starts with a tax. melissa: bob, which one of us crazy, bob? >> i don't think the hot dog vendors will be crazy about what you said. melissa: come to new york, my friend. you never pay what's on the label for anything. >> i think this will be, you captured it. it will be very uncomfortable. that is the magic of trump. that is what he likes. he likes making people feel uncomfortable. melissa: i love all three of you, especially jonathan. come back soon. david: she is a fan of the free market. i've known this woman long enough for sure. >> i don't pay the price outside of anything. david: she knows what new york negotiation is all about. heavy snow and strong wind are pummeling the east coast for second time in a week. 60 million americans in the path of the storm. pennsylvania, new jersey, parts of new york, already declaring state of emergency. more on the wicked storm coming up. melissa: on the other side of the country, attorney general jeff sessions taking the immigration fight to california.

slapping the state with a lawsuit over it is sanctuary state policies, slamming the state's refusal to help i.c.e. agents and the oakland mayor who tipped off her city to raids. california congressman tom mcclintock sound off next. >> so here is my message to mayor schaaf. how dare you, how dare you needlessly endanger the lives of our law enforcements with your radical open borders agenda. ted? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade are finding themselves morin a chevroletple

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set a memorable wifi password with xfinity my account. one more way comcast is working to fit into your life, not the other way around. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. melissa: the department of justice filing a lawsuit against the state of california for interfering with immigration law enforcement. attorney general jeff sessions slamming the sanctuary state this afternoon. >> california absolutely appears

to me, using every power it has, every power it doesn't have to frustrate federal law enforcement. you can be sure i'm going to use every power that i have to stop that. melissa: now california governor jerry brown responding. >> i will cooperate, jeff, if you can get off this current manuever you're on because it is unbecoming, it is based on non-truth, and i hope you will shape up before it is too late. i'll tell you, this lawsuit they're talking about going to the supreme court, this lawsuit is going to last a lot longer than the trump administration. melissa: oh, burn. here is react, republican congressman tom mcclintock from california. what do you think of what you just heard there on both sides? >> typical jerry brown on the left but sessions is absolutely right. if we're not going to enforce our immigration laws, that means our borders are meaningless. history warns us that any country that either can not or will to the defend its borders

simply isn't around very long. he is also right, there is broader issue involved, the sanctity of the constitution and rule of law. what we're seeing raised by jerry brown is these same discredited doctrine that dates back to the old southern confederacy. the notion that a state or local official who doesn't like a federal law is simply free to ignore it, or in california's case, to actively obstruct it. well that doctrine is absolutely toxic to a federal union. it is a destructive of our constitution. would render our constitution meaningless. the laws we pass become mere suckses, the federal union disintegrates. lincoln understood the danger when he became president. sessions is quite right, invoked by the new confederacy led by people like jerry brown. melissa: you know, he made the comment that what if a state sided to ignore osha laws? what if a state decided, that

would be, it would have completely different reaction. >> well, exactly. again, the tenth amendment does reserve to states powers not explicitly granted to congress but immigration ex-police is lit granted to congress and supremacy clause makes it clear those laws are the supreme laws of the land. the federal courts, not state officials are there to ajudicate disputes. a state official can not ignore or worse, obstruct a federal law. melissa: do you think this is strong enough move by the attorney general though? i mean obviously the president has been very critical of his handling of the rebellion from all of these different sanctuary cities and sanctuary states. is a lawsuit enough and get any traction? >> well in the case of the oakland mayor who tipped off illegal immigrants who were targeted by i.c.e., these are people with criminal charges that range from gang

affiliations to gun violations, to robbery, burglary, sexual assaults. melissa: yes. >> she allowed about, well, as many as 860 such people to escape back into our community. if that is not obstruction of justice, i don't know what is. i think that we either, if it isn't obstruction of justice, she ought to be charged. if it is not obstruction of justice we need a new law. melissa: congressman mcclintock, thank you. >> my pleasure. thanks for having me. david: good stuff. is north korea actually willing to come to the table and what good will it do? >> yeah. david: kim jong-un's regime signaling they're ready to talk. should we be more than a little skeptical? ambassador john bolton is. we have his take. fighting for second special counsel. law make remembers fighting for it for the sake of american people and justice. judge andrew napolitano breaking it all down coming next. >> you can be a fan of the fbi and still be troubled by with

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twirling cards e*trade. the original place to invest online. >> the president has made clear he has significant concerns about the current fisa process. nothing makes the problem of fisa more clear that democrat and republican memos that outlined that fbi used political campaign material to get a warrant to spy on american citizens. they failed to disclose to the judge that the dossier was funded by the clinton campaign and the dnc even as it was being used to spy on people associated with the trump campaign. david: white house press secretary sarah sanders focusing what the white house believes needs more investigation as calls for a new special counsel to look into the matter begin to heat up. here is fox news judicial analyst, judge andrew napolitano. i assume that was music to the ears. on one hand we have suggestions of collusion with the trump

campaign and on other hand we have specific clear evidence that a fisa court was misused to spy on americans? >> you're speaking to the converted, because as you know i've been arguing against fisa since it came into existence in 1978. it meets in secret. there is no opposition to it. it lowers the constitutional standard for surveillance from probable cause of crime to probable cause of speaking to a foreign person. and it has been used to spy on americans. what does fisa stand for? foreign surveillance. david: if this horrible thing was done and there is more and more evidence that the fisa court was misused to spy on americans in an election campaign then we need more than just an inspector general's report at the department of justice and here's trey gowdy earlier making that point. take a listen. >> the department of justice has a conflict so they should not conduct this investigation. michael horowitz, the inspector general, doesn't have access to non-doj employees or those who

left the department or the fbi sew can't do it. this is unique fact pattern. i think special counsel is the only entity that can do this effectively? david: no, do you agree? >> i don't think we need a special counsel, david. i have been railing against them as well. they indict people to justify their own existence. david: seen that happen. >> recently as two weeks ago, all the way back to iran-contra, however the inspector general doesn't have the power to investigate that an ig does. >> trey gowdy is correct. there are many people's testimony he can not abstain. can't charge anybody with a crime. but a lot of documents he can't reach? who would appoint a special counsel? rod rosenstein. ford fisa court applications. three approved by jim comey. the fourth by rod rosenstein. you will ask a special counsel to investigate himself? one solution give it to bob mueller. a team already in place.

expand his own authority. david: he may be investigating. >> and we don't know about it. the other option is, there are 90,000 employees in the justice department. surely there are a few dozen that don't have a conflict that can look openly and clearly at this. it is clear, the power of the law was abused by the fbi officials for political purposes. the american public is entitled to know who, who knew about it, who looked the other way, who got away with it. david: some of that information clearly will be in the inspector general's report, yes? >> i think so. but again, now here is what the inspector general can do. he can say i think this is a crime and i'm referring to main justice. then rosenstein has to decide what to do. basically it's a bureaucratic report, i don't mean that if a critical way. his goal is not to look for crime. it is too look for violations of internal doj regulations. almost like internal affairs in a police department. if he does find crime, he must send that to the attorney

general. david: to bring it full circle, would you not agree that the question of whether the fbi and the justice department misused the fisa court to spy on a political campaign because they wanted to prevent donald trump making it to the white house is more important than anything we've heard so far from mr. mueller? >> agreed. agreed. i would not be surprised if bob mueller is looking at this. david: let's hope. judge, thank you. melissa. melissa: rebuilding nation infrastructure on taxpayer dime. senate democrats out with a plan to fix our broken roads. it will cost you though. president trump standing strong on his tariff proposal. my next guest says tariffs could reverse the economic recovery in her state. congresswoman jackie trades in next. >> he feels like the united states has been taken advantage of far too long. he will not allow us that to continue under his watch.

melissa: ready by week's end. the white house says president trump's proposed tariffs on steel and aluminum imports are on track to be signed the next couple of days. treasury secretary steve mnuchin defending the action earlier. listen. >> the president understands the economy. he understands business. he is literally met with thousands of business leaders since he has been here, on the campaign. he is very focused.

let's be very clear. we're not looking into getting into stage wars. we have thought-out process this is something talking about a long either. this is part of the overall plan. melissa: our next guest says that it will lead to a loss of manufacturing jobs in her state. joining indian congresswoman jackie walorski. you have a lot of concern about this, yes? >> thank you, melissa. thank you for the opportunity. i agree with the secretary. i agree with the president. the issue what comes out in the details. i have no problem going after the bad guys. we all agree to need what needs to be done. in my district, they make bowls, trailers, rvs, end products for aluminum, the prices increased because of tariffs. they can't place orders to the specs they need, empowered the domestic companies they don't even have service companies in this country.

that is not fair. i want to make sure it is balanced. i agree with principles. go after the bad guys. reward the good guys. go after china who is bad actor. melissa: i don't know if you heard wilbur ross? >> i did. melissa: he is talking about the fact that tariffs on our cars going into other country. not tariffs coming into our country. they're not evenly balanced. there are a whole bunch of terrible deals, and trying to do a one off with one country doesn't work. then they route products through other countries be and that what he is trying to do is start the negotiation with something that gets everyone's attention, and rework all these various trade deals. is that a bad idea. >> that is not a bad idea. i didn't disagree with him. i'm right on track with him. if we're not careful, precise action taken, not a blanket action, not a broad action, what will happen we'll balance half

the issue on current job owners and current employees. in my district in indiana, we are a large manufacturing state, this is about jobs. this isn't about nuances that need to be taken up here and there. i have no argument with that. this will affect jobs because he hasn't even signed an agreement. they have already raised prices on consumers and job makers. melissa: you're absolutely right. we heard the same thing from people in all kinds of different industries saying the price of raw materials has gone up basically in the past year in anticipation of something like this. so you're right. but if the president wants to renegotiate these deals it is going to be really tough and by definition it will be really messy. so there will be pain along the way in order to try and have these deals that have been in place and given away for a long time redone. do you think it is worth enduring some pain in the short term for a better outcome and better trade deals down the road? >> okay. here is what i'm going to say. i understand what you're saying

but the president's number one initiative as was mine, we worked together rolling back regs off mervers to spur the economy. we passed tax reform n a manufacturing district like mind, momentum steps ahead. if we're not careful if there is not balance in this, we'll take the tax reform gain that we just gave them right out of their pocket and it will affect jobs and tariffs are taxes and on end of this -- melissa: oh, yeah, you're right. >> individuals, families are going to pay. we just incentivize them could be taken away. i think we can do this right. i think the president will do it right. i'm optimistic in my heart that he is going to make the right decision, not punish jobs, not take jobs away to fight with each other, but get us focused together as americans on bad actors like china. i'll all for that. i'm not for taking jobs out of my district. melissa: congresswoman, thank tk you, thanks for your time today. >> thank you, melissa. david: senate democrats announcing their trillion dollar

infrastructure plan. democrats looking to put this plan in place if they take back control of congress, but how do they propose to pay for it? by rolling back some republican tax cuts that they say benefit wealthy individuals and corporations over the rest of us. they are proposing a top individual tax rate of 39.6%, compared to 37% under the new law, increasing the corporate tax rate, wait a minute, weren't we just there, to 25% from 21%. melissa: huh. david: yeah they want to go back way things were. they think it was better. melissa: all right. travelers stranded as wicked winter storm dumps snow and i.c.e. on the northeast. economic impact of all this wild weather coming up next. ♪

david: breaking news. just coming in, fox business now confirming that more than 100 house gop lawmakers signing a letter that objects to trump's steel and aluminum tariff plans.

the house ways and means committee chairman says the letters are being sent to the white house today. the letter wants the president to reconsider all these broad tariffs. melissa. melissa: a massive winter storm pummeling the northeast. snowfall intensifying, expected to be a nightmare for commuters heading home tonight. fox business's deirdre bolton is live in new york with the latest. >> hello, melissa. melissa: you're bright and happy during the storm. you look fabulous. >> that counts for something. a lot of people are without power and more to come, melissa. update for travelers first, right this second there are 2700 cancellations for flights. we'll show you a live shot of jfk. 0% of the remaining flights out of jfk have been canceled. newark is probably even worse. it just lifted about ten minutes ago, a ground stop. so that is to say before ten minutes ago, no flights were

coming in or out. that is just been lifted. but nationwide, even for tomorrow, there are about 300 flights that have already been canceled. worth noting the airlines are trying to make it easier for travels. american, delta, united. they're offering vouchers. it is a one-time kang that you're allowed to make if you have a ticket. without a fee, so even if your flight was not canceled, if you just don't want to deal with this, you're not in a rush to go anywhere. toes three airlines actually let you change your details. amtrak, worth noting, more than 50, at this point trains have been canceled. there is to normal service. if you have a ticket, you're supposed to get home by an amtrak train. at least check the website. company saying they are running a modified schedule but on the northeast well worth pointing out, more than 50 trains have been stricken from the list. city buses, new jersey transit, all of them suspended at about

4:30 eastern time. high lighted this. sun is going down. roads are getting slick. deemed just to be dangerous for these big buses to be traveling. pow every outages before today, almost a quarter of a million people have lost power from friday. we assume more as we speak. melissa, back to you. melissa: come back inside, deirdre. thank you. david? looks good outside. she is not happy. melissa: she is always happy. david: north korea says they are ready to come to the negotiating table. why the white house is crediting president trump with sudden shift coming from the rogue regime. next john bolton, former u.s. ambassador to the u.n. responding to all of this. y couy pass it down to you one day. cool. but before you decide, you should know that chevy silverado's are the most dependable, longest lasting full-size pickups on the road. which means that ford f-150s are not.

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david: while some are hopeful recording north korea's alleged willingness to discuss their nuclear weapons others understandably are skeptical. considering north korea's abysmal diplomatic history, but you can put our next guest in that second category. former u.n. ambassador john bolton. good to see you, john. before we start debating whether or not negotiating with the north korean regime will do any good to anybody let's go back to january. donald trump tweeted out something that scared the hell out of mainstream media. i will read the tweet for those who forget. north korean leader kim jong-un stated that the nuclear button is on his desk at all times. will someone from his depleted and food-starved regime please inform him i have a nuclear button but it is much bigger and more powerful than his and my button actually works. mainstream media freaked out at this, but it turns out he made

more distance than they had getting him to the negotiating table. >> look i think that tweet, series of others and other things the president said finally got through to the north korean leadership and they realized that barack obama is no longer president. here's a president who is prepared and ready to use military force, not because he wants to but because he is not afraid to like obama and some of the other predecessors and that i think brought them to the realization that they are very, very close to achieving their objective the getting deliverable nuclear weapons and they're quite worried that they may not make it because donald trump's prepared, when he says all options are on the table, he really means it. david: that's right. we've seen that play out in syria and other places, but i understand you're skeptical of any kind of negotiation with this regime. i think the president is as well. he tweaked rex tillerson, his secretary of state in believing negotiation when he didn't. i think he really believes

without hard ball you can't play at all with these guys. >> that is clearly right. i think the point he and vice president pence tried to make, there may be conversations with north korea, but there is going to be no change in the policy of squeezing north korea. what the north wants and you know, we've only heard their side of it, so far filtered through south korea, they're willing to make concessions. we don't have to do anything. they want us to stop joint manuevers with south korea. they want us to pull the navy back from the east sea and west sea they call the sea of japan and the yellow sea. they will want to do a lot of things that the administration can not do, precisely pressure causing north koreans concern. david: with china cheating on the sanctions how do we apply that pressure? >> ultimately if there is diplomatic play it is with china to reunite the peninsula and overthrow the north korean regime. i'm not sure there is time for

that to happen. one question for everybody who thinks sanctions worked here, how much aid was iran giving north korea before these new sanctions and how much aid is iran giving north korea today? whatever the number is, completely unchanged because the north koreans and iranians couldn't care less about each other's sanctions. we know that from north korea selling syria, financed by iran the elements of a chemical weapons program. david: irony is, about all this talk of terrorists against canada and mexico, why don't we just apply, were a single focus on china, one, to get them on steel, two, to get them on what they're doing with north korea. >> well i think the chinese are ma tip lating and dumping -- manipulating and dumping steel more than our other competitors. i think ultimate target, much more broadly in the trade area. stealing intellectual property and more. david: absolutely. ambassador bolton, great to see you. appreciate it. >> thank you, david. melissa: going boldly where it has never gone before,

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so that we can help more frail and lonely elderly holocaust survivors in the former soviet union before it's too late. melissa: not exactly a rum and coke but it's a start. coca cola breaking a 130-year tradition announcing plans to launch its first ever alcoholic beverage in japan. david: now as you probably guessed if it's in extra pan there's a twist because everything in japan has a little twist to it. melissa: by our standards. david: will be a twist in a popular japanese low alcohol leverage. just a little bit. melissa: disappointing. david: made by mixing carbonat ed water with a local spirit and some flavoring such as lemon or lyme. other flavors range from strawberry to iced tea and cream soda. no word on when the product is available or if the company plans to bring it to the united states but again as you said in

the beginning, we have coke and rum. melissa: there you go. david: who needs more than that melissa: i applaud their effort. why not. all right that does it for us risk & rewards starts right now. >> how darely endanger the lives of our law enforcement officers to promote a radical open border agenda. >> california absolutely appears to me is using every power it has, power it doesn't have to frustrate federal law enforcement so you can be sure i'm going to use every power i have to stop that. we're going to fight these irrational, unfair, unconstitutional policies that have been imposed on you and your officers and our federal officers. liz: the markets bouncing back, still closing down making it seem like fears of a global trade war fade, and gary cohn