sell the news. even when the deal is announced, i think it will be, the markets will sell off anyways. we've gotten to a point where we've welled i well priced in eg that could possibly happen. lauren: todd, jonathan, amber, doug, thank you very much. thank you for sticking with us on this very busy historic morning. cheryl: a special edition of "mornings with maria" starts right now. maria: good morning. thanks so much. an hour earlier this morning. thanks for joining us. i'm maria bartiromo. it is thursday, february 28th. we have breaking news this morning, no deal with north korea. >> it was a very interesting two days. i think actually it was a very productive two days. but sometimes you have to walk and this was just one of those times. maria: president trump now on his way back to washington after cutting his nuclear summit short with kim jong un. the north korean leader wanted all of the sanctions lifted. that wasn't happening. the fallout coming up this

morning. markets are edging lower. take a look at futures, indicating a decline at the start of trading this morning by about 60 points, a quarter of a percent lower. the s&p 500 down 7 and-a-half. nasdaq down 30 points. later this morning we are getting a first look at the fourth quarter gdp. this is an important one. it was delayed by the government shutdown. there are expectations it will be below 3%. we're going to take a look at the estimates and tell you how it might impact markets at 8:30 a.m. this morning. it was a muted day yesterday on wall street. dow industrials posted a modest decline. nasdaq and s&p 500 was flat. the dow was down 72 at 4:00 yesterday's on wall street. in europe this morning markets are mixed. fq100 is down, 51 points, three-quarters of 1%. the cac is squeaking out a fractional gain here, the dax index is down 5 and-a-half, flat markets really in europe. in asia overnight, declines across the board. kospi in south korea, hardest hit following news of no deal. the kospi index looking at a

decline overnight of 1 and three quarters percent. new optimism this morning over a deal with china. the u.s. dropping the threat of 25% tariffs. we are following the latest developments this morning. and then a bit of a tech wreck, several companies taking a major hit on weak earnings reports yesterday. take a look at the premarket, box, inc. down 24%, fit bit down 13% and square down 6 and two-thirds percent. all those stories coming up. joining me to break it down, dagen mcdowell, forbes media chairman, steve forbes and morgan o ortagus. thank you for being here earlier. you think this was a positive that nothing happened and the president is on his way home. dagen: better to walk away from a deal if north korea is demanding that the united states drop sanctions if we weren't going to get, say, a complete lift of the nuclear sites and facilities in north korea, this is a president not giving in to kim jong un.

i think the tone was positive. many people have already harkened this back to ronald reagan walking away from the talks, the summit with mikhail gorbachev in 1986. it was a year later that they came back together and got together on on a deal. this is not a disappointment. i think that the tone that you heard from the president is an indication of that. maria: steve, what do you say? it's the opposite of a set back. it tells us, north korea, we want substance, not atmosphere which is a mistake of previous administrations. number two, politically in south korea, it shows the president went the extra mile. they can't criticize him now for trying to get a deism i think it's good there. with china, the coming trade deal with china, shows the chinese if we don't get what we think we need, we will walk.

>> totally concur. this is the one thing i was watching throughout the day was would there be some sort of peace deal and where do we land on economic sanctions. clearly, kim jong un came to the summit wanting a reprieve from the sanctions. the president wasn't willing given it. they didn't give enough back. maria: the president is not going to waste anybody's time. the president left sleet name vm without reaching an agreement. he held a press conference before they left. >> they wanted the sanctions lifted in their entirety and we couldn't do that. they were willing to denuke a large portion of the areas that we wanted but we couldn't give up all of the sanctions for that. so we continue to work and we'll see. but we had to walk away from that particular suggestion. we had to walk away from that. one of the things importantly that chairman kim promised me last night is regardless, he's not going to do testing of rockets and nuclear, not going

to do testing. so i trust him and i take him at his word. i hope that's true. this wasn't a walk-away like you get up and walk out. no, this was very friendly. we shook hands. there's a warmth that we have. i hope that stays. i think it will. but we're positioned to do something very special. i could have signed an agreement today and then you people would have said oh, what a terrible deal, what a terrible thing he did. you'll havyou have to be prepar. you know, there was a potential we could have signed. i could have 100% signed something today. we actually had papers ready to be signed. it just wasn't appropriate. i want to do it right. i'd much rather do it right than do it fast. maria: joining us right now is retired u.s. army colonel jay voorhees. thank you for weighing in this morning. what's your reaction to what has taken place here. >> i agree with the panel.

i think this was the right move to walk away at this point. it's been a very interesting set of circumstances over the last couple years, especially when you look at how we've applied the national instruments of power. first with the military threat, with the fire and furr fury, lie rock eet man and i think we're going about it the right way. this is a long process and it's going to take some time. i think the comparisons to reagan are very interesting. and as far as the relationship between president trump and chairman kim, there's an old saying, you want to keep your friends close and your enemies closer. i think that's part of his strategy. i think we're moving in the right direction. there's got to be patience and there's always going to be the political side of it and we've got to not go there either way but focus on the end state and that's a denuclearized korean peninsula. >> one of the things i noticed in the press conference that the

president did immediately following is he did not recommit to any of the military exercises that we stopped last year with south korea. the president talked about the expense of those. but do you think that perhaps it's on the table to start some of those exercises or do you think we'll keep status quo? >> morgan, good to talk to you. it's a great point. i saw that. my take on it is definitely there is a financial element which the president highlighted. it is very expensive. but what we can't lose is what you get from these exercises, having been stationed in korea at some point and participated in them. you get the relationship building. you learn how to work with all of the joint forces, all of the international forces and you don't get kind of cold on that. that is an important piece that i hope is still on the table. and i hope that the military leaders, i know they'll take a hard look at it and hopefully advise him and i some way, we nd to keep those up because if gosh forbid we need to go to war, we

don't want to do it cold. we want to have that in place. >> steve forbes here. one of the fathers of father fa summit meeting is that the u.s. was accepte accepting that norta would be a nuclear power and our goal would be to make it a normal nation. what are the chances of success of true denuclearization of north korea and could the kim regime survive from it went for that? >> another great point, steve. i think everybody's hopeful that we could go to a true denuclear. that's his base, that's his fallback position. it's interesting too, the president touting the economic potential of korea. i think that's a great point. but you've got to think does kim really want that and there's been a lot of talk about if he does expose his nation to everything else that's out there, now that he doesn't, that could be his downfall too.

it's a touchy thing. i think there's a long road ahead. i think a combination of continuing to use all of our elements of national power that i mentioned before as well as the relationships with china and south korea, we've got to keep working those and that's touchy as well. but i would hope so. but there's a lot of things that go into that. >> do you think there's a danger in the future that kim says i will give up the nukes, you cann inspect them but we want a unified and neutral korean peninsula, i.e. the u.s. gets out of south korea, pulls out of there? >> i think if that ever happened, we've definitely looked at this problem holistically because removing that forward presence out of soutsouthsouth korea, things woe to drastically change. i don't know if that's in the future and i don't know if chairman kim would ever agree to it. >> we passed legislation on this

in congress too which would be prohibitive for the administration to take that action. >> i think it would be very dangerous, regardless of what happens, to remove that forward presence, not only in korea but it's also a projection for other hot spots in the area too. maria: it's good to see you this morning. thanks so much for your insight. >> all right. maria. good to see you. maria: we'll take a short break. when we come back, the u.s. drops the threat of another tariff on chinese goods. how a trade agreement could be close behind. hewlett carhughhewlett-packard g yesterday after their report. we'll have a round-up right after this. your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech.

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maria: the u.s. dropping its threat of additional tariffs on chinese goods. cheryl casone with headlines now. cheryl: good morning. this is a sign that a trade deal

between the u.s. and china is close. u.s. trade representative robert lighrobrobertlighthizer announcl not raise tariffs on chinese goods. he said to secure a pact, much work still needs to be done. >> if we can complete this effort and, again i say if, we might be able to have an agreement that helps us turn the corner in our economic relationship with china. cheryl: u.s. and chinese officials say the two countries are poised to finish a deal over the next month following a likely summit between president trump and chinese president xi jinping at trump's mar-a-lago estate in florida. well, some technology stocks hit hard on disappointing earnings or guidance after the closing bell. the news sending shares of box, square and hewlett-packard sharply lower with box losing a quarter of its value.

square is down about 6%. hewlett-packard losing ground on weaker than expected sales. the stock in the premarket hewlett-packard down almost 12% right now. former nissan chairman carlos ghosn's new legal team is applying for bail again. this is ghosn's third bail attempt. he was denied twice after being considered a flight risk by two judges. he's now spent more than 100 days, maria, behind bars. over to you. maria: incredible story the story on nissan and carlos ghosn, just outrageous. dagen: from the moment that carlos ghosn was arrested in japan, you have been all over this story and genuinely outraged by it. why aren't more people doing more. maria: i agree. dagen: why aren't people screaming to the rooftops, quite frankly, about the treatment of this international citizen, if you will, this corporate leader.

i mean, he was a trailblazer. and i don't understand why more isn't being done. maria: i agree with you. he's not allowed to speak to his family. they're treating him like a murderer. he's not allowed to speak to the lawyer he hired from the u.s., only a japanese lawyer. >> you would expect something like this with a hostage situation. >> what's disappointing is the french government, why haven't they raised the rooftops,. maria: you know what i want to see? are we going to see a decline in foreign investment in japan? are we going to see foreigners pull back in terms of investing in japan as a result of this? the judiciary system is bonkers. >> the major consulting firms have been hit in the past few years in japan as well with major fines, major regulatory breaches for big american firms.

>> it goes to show, while japan has made a lot of progress in certain areas, in other areas -- i mean, even their judiciary system, if you have the death penalty, they still have it in japan, you never know the date of your execution. they just come and say it's over. maria: the reason that i was so outraged by this, we know this is if not entirely, at least partly a coup. >> it is a coup. maria: we know that carlos ghosn wanted to merge renault and any san. nissan. there was a movement underneath carlos ghosn that he obviously missed. they went against him and planned this whole thing out and got the government involved. >> and then in terms of trade negotiations with japan, that's something trump should bring up, what kind of treatment are you giving to foreign capital. maria: that's true. dagen: to think this is the way, this is just acceptable treatment of non-japanese individuals in that country is

really astonishing and appalling. i think the rest of the world needs to push back on japan and corporate leaders have a great deal of power in terms of telling the japanese government we will not do business with you if you treat people this way with no rule of law. maria: let's take a look at foreign direct investment in japan over the next couple months. i think we need to see if this is having an impact. this is stunning. when we come back, an economic bright spot to report, jay powell speaking on capitol hill yesterday, his hard-hitting testimony, we've got it all right here. stay with us. i can't believe it.

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maria: welcome back. watching markets this morning, futures are indicating a decline at the start of trading this morning. the dow industrials down 69 points, quarter of a percent, s&p 500 is down 9, the nasdaq down 36, one half a percent. we are watching the federal reserve. the chairman, jay powell, spending a sec day of capitol hill yesterday. yesterday he appeared before the house financial services committee. watch. >> we're going to be patient and watch as the economy evolves and also the evolving risk picture changes and how that affects -- will affect the outlook and we'll be looking at a full range of data. include housing starts, include anything that could affect our achievement of the dual mandate, principally growth and of course the labor markets and inflation. we'll be looking at a wide range of data. that's one piece of it. but it's one of many pieces. our mandate from you is maximum employment and stable prices. that is the mandate. we also look after financial

stability and particularly as it supports -- >> financial stability but not necessarily stock market stability. >> no. by financial stability we're really talking about the capacity of the financial system, particularly banks, but other aspects of the financial system to perform their role and intermediate between savers and borrowers and support economic activity. what we're looking at is a way to more credibly achieve our 2% inflation target. the thing that is our concern is we be allowed to conduct monetary policy with a free hand. we've had three consecutive meetings on the balance sheet and we've worked out i think the framework of a plan that we hope to be able to announce soon that will light the way all the way to the end of balance sheet normalization and will result in the end of asset runoff sometime later this year. maria: a lot of comments there. joining us right now is vining sparks chief economist craig

dibuke. can you navigate for us a bit of what he said and he also said all the data is on the table. he's looking at everything. let's not forget, we are expecting the read on fourth quarter gdp this morning, 8:30 a.m. we're looking at an estimate of 2.4%. what struck you most about jay powell yesterday? >> well, there was no real new news in his testimony. i am struck by how doveish the committee has turned going back to september. one of the things i took from it, this continued talk about participation, how participation has surprise to the upside. that really is a story of workers over the age of 55, if you go back and look at participation from 1990 to 2000, that was max participation. compare that to where we are today. there's 7.5 million more people over the age of 75 participating. that trend going forward will continue for the next five years, another 7.5 million over the age of just 65. so i think the real question for

them is not just what is max employment but or full employment but what is full participation. so questioning that side of their mandate, they also question the inflation side of the mandate, the fact they haven't been able to achieve that target going back to 2008 when the financial crisis occurred. there's only been one month where inflation has been over 2%, except for 2011, 2012, there's only been one month where they've been over 2%. really questioning both sides of the mandate. i think the next fed rate hike, there's a high bar for it. maria: dagen, what struck you most as far as importance. dagen: he did confirm yesterday that the fed reserve is close to ending the balance sheet reduction. he said point blank that we're going to be in a position to stop the runoff later this year. that is very important for the markets. because i think that it's been that balance sheet reduction really in the last year that has caused a lot of the volatility in financial markets although the fed has at times dismissed that.

that was critical. i want to point out something he said two days prior that i don't think we can emphasize enough. he is essentially saying these ideas pushed by the far left, by the likes of alexandria ocasio-cortez, although jay powell never used her name, that deficits don't matter, that the federal reserve can help fund all of these grand spending programs, he said that's just wrong. the idea that deficits don't matter for countries that can borrow in their own currency i think is just wrong. he also emphasized it's not the federal reserve's job to prop up policy, particular policies, to provide support for particular policies like at some point literally the idea, steve, that they're floating from the federal reserve is they're going to spend literally tens of trillions of dollars on all these programs, the green new deal, medicare for all and the federal reserve will step in at some point and buy up that debt. >> you look at the history of hyper inflation, that's what

you're going to get out of this. and money is in and of itself just a means of doing transactions. there's no wealth in and of itself. and that's the movie i did, money we trust. when you do that kind of thing, bad things happen. i'm interested too, craig, the fed still seems to worship at the altar that prosperity causing inflation, you can't let the economy get too prosperous. why do they still worship that false idol? >> i think they believe their models. they're academics by nature, powell less so than some of the others. i think they believe when the unemployment rate is low enough that you'll see inflation pick up and their job is to curtail that. we're in a different dynamic today. >> that's not necessarily weakening of the dollar. the prices tell you need to produce more, hire more, that's how the economy works is prices. why do we think we start to sweat when our incomes go up, overheat? where does that come from?

is it the phillips curve? >> the phillips curve. historically, as unemployment rate gets to a certain point, wages start to rise, we have to see wages get to 4% year over year growth before we see it play into the broader consumer price day that. i think that's what their fear is. they're concerned about inflation. i don't think there's a good reason to be. i think with the aging population we're in a structurally different economy today than we have been historically and so i would agree with you that it shouldn't be as much of a concern where we are today than it has been. maria: so craig, what do you want to do in terms of investing at this point? you had a great beginning of the year. are you still allocating money to stocks? >> i think the fed has set that on hold for a long time. there's a high bar for them raising rates. if you're in the stock industry, i think there's the potential for opportunity there. i think from a fixed income standpoint which is where we specialize, we think that the markets have shown up in the fourth quarter that we're very near the high end of this rate cycle. i think the markets right now are pricing in no chance of

another arrest no more rate hikes during this cycle. our expectation that is we would see one more but i think we're near the end of this rate sigh l kell and so we're constructive on bonds. maria: we will leave it there. thanks so much. great to see you. appreciate your insights. the be president just tweeted on the summit in vietnam moments ago. he said this. thank you to our generous hosts in hanoi this week, the wonderful people of vietnam, the president thanking the group and the host as he is on his way back to the united states right now. coming up, after this short break, michael cohen on capitol hill yesterday, the same day as president trump's historic summit with kim jong un. the president reacted to the fiery testimony, what he said earlier this morning, right after this. stay with us.

maria: welcome back. good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo. we have breaks news this morning, no deal with north korea. president trump cutting the summit short, saying sanctions were the key issue. >> they wanted the sanctions lifted in their entirety and we couldn't do that. they were willing to denuke a large portion of the areas that we wanted but we couldn't give

up all of the sanctions for that. maria: we are taking you live to vietnam this morning coming up. markets edging lower, futures indicating a decline at the start of trading this morning, dow industrials down 59 points, the nasdaq down 32. later this morning we're getting a first look at fourth quarter gdp. this is the initial estimate, the first estimate of the fourth quarter. it was delayed, remember, because of the government shutdown. we're expecting a growth number of 2.4% for the fourth quarter on gdp. this after muted action yesterday on wall street, the dow industrials were down 72 points, quarter of a percent, but the nasdaq and s&p 500 were flat on the session. in europe this morning, we do have selling underway. take a look. fq100 down 52 points, cac in paris down 7 and-a-half, the dax index in germany down 9. in asia, declines across the board. korea, the kospi index the hardest hit following the news of no deal. amid the historic u.s./north

korea summit, michael cohen testifies in washington. the president's former lawyer was on capitol hill yesterday in front of the house oversight committee. he called the president, a liar, a cheat, a con man. he backed up one of the president's strongest claims. >> questions have been raised about whether i know of direct evidence that mr. trump or his campaign colluded with russia. i do not. and i want to be clear. >> he lied a lot but it was very interesting because he didn't lie about one thing. he said no collusion with the russian hoax. i said i wonder why he didn't just lie about that too like he did about everything else. maria: joining us right now is former whitewater independent counsel and thompson and knight partner, robert ray. thank you for joining us. your reaction to michael cohen testifying yesterday? it's amazing that the first time they've got a hearing, the democrats, they're in the majority now, the first person they bring down is a guy who has been convicted of lying. >> that's not usually how you

would want to start, it's not putting your best foot forward to rely on this man. look, i don't want to over-emphasize where some of the republicans went which is an over-reliance on what the guy -- he's a convicted felon, so on and so forth. there are frankly better defenses. the only thing that came out of this thing that i saw, you had a kim o -- cull couple of checks t were used to reimburse cohen with regard to what arguably could be a campaign expenditure which would violated the campaign finance laws. maria: the stormy daniels payments. >> it's not entirely clear that what that is in fact a crime. i understand michael cohen pleaded guilty to it. i understand one might be concerned about the fact that someone might say wait a second, is this a personal expense or

campaign expenditure. >> cohen said he was doing it because the president didn't want melania to know and he felt bad about the situation. everything it related to was related back to his wife. >> the u.s. attorney's office in the southern district used a carefully chosen word, and that was the principal purpose of this was as a campaign expenditure. in other words, to influence the outcome of an election. maria: i think it's a reach to call this campaign finance. what do you think dagen? dagen: that issue, anything related to campaign finance violations, that will wait until president trump is no longer in office. >> it's murky. maria: it's murky, right. >> because it's murky, generally speaking these things, the john edwards situation taught us anything, this is not something you would want to go to a jury with. this is something in all other situations would be handled civilly. if you asked -- i guarantee you, if you went down on sixth avenue, we asked the first 50 people, is this a personal expense or is this a campaign expenditure, i think most people

would probably understand this is a personal expense. common sense generally is kind of where you want to be on this. i really -- if this is what the democrats are leading with, hey, look, more power to them. if they think that this is the basis for an impeachment proceeding, my own view, look -- people will decide. i think they're dreaming. >> the real crimes happened in 2016 from the fbi and some intelligence agencies. maria: that's right. >> why doesn't the administration, the president release all of those documents and put it out there, what actually transpired? >> we have a new -- maria: we're waiting for the declasclassification. >> i think we're going to get to that eventually. >> why are in taking so long? >> we have a new attorney general. we have to give the benefit of the doubt to the attorney general. i agree with you completely. i think as we talked about on prior occasions, what went on with that steele dossier and how they initiated a criminal investigation and what you heard from andy mccabe, there's a

lot of stuff there that happened and i take lindsey graham at his word that we're going to look into this eventually. that sort of stuff with the fisa court can never happen again. >> absolutely. >> the one problem that's the worst thing in law enforcement, that's when politics start driving decisions about using the criminal law. >> 2017, fbi trying to do a bureaucratic coup against the president of the united states. maria: yesterday, michael cohen was asked, did you ever go to prague and he said no, i've never been to prague. what was in the dos dossier? that michael cohen went to prague and he met with russian officials. it blows the dossier to pieces in terms of -- it's all inaccurate garbage. >> there's not a lot of credibility here. i guess that's sort of the first point about michael cohen's testimony. the second is, as you correctly point out, there was an

administrative coup going on. when? within less than the first four months of the administration. the democrats have been talking impeachment since basically the day the president was sworn into office. this is not like it was well into the president's first term or second term that we start talking about these things. we've been talking about them since the day he was sworn in. you know, enough. maria: that's right. >> enough. dagen: the only thing that -- the wall street journal editor call page touches on this today, is that whatever michael cohen said yesterday, does it contra contradict what president trump told bob mueller, the special counsel, in his responses to questions. that's what we don't know. >> we won't know that obviously until we see the report. dagen: that creates a potential risk for the president. we just simply don't know, whether it's about roger stone calling about the wikileaks stuff. michael cohen is quite a grister, so you -- you can expect a grifter to still be

working. you have to take that at face value. >> experience has shown with regard to the president is that he knows the difference between submitting answers under oath and what you can say for public consumption and public domain when you're not under oath or in a position of talking to law enforcement. if you look at his past experience with private litigation, he seems to be well familiar with what answers he can give when he's in a deposition and he's sworn under oath. maria: let's not forget he also -- >> it's not like he doesn't have experience with lawyers and litigation. maria: they say who did you speak with, he spoke with adam schiff before sitting down and he spoke with elijah cummings. i was getting a deja vu of the brett kavanaugh hearings. cohen raised eyebrows when he admitted he spoke to the house of the senate intel committee ahead of the hearings in front of both committees. >> we spoke with chairman

cummings and the party. with chairman -- spoke with chairman schiff, spoke to be schiff about topics that were going to be raised at the upcoming hearing. >> not just what time to show up? actually what you're going to talk about? >> the gentleman's time has expired. >> wow. maria.maria: adam schiff, was e basically coaching him? was adam schiff coaching michael cohen? >> that's the kind of cross examination that the republicans needed to do more of, less on you're a convicted felon and you're going to jail and you're a liar, all the rest. that shows bias. you don't have to sway too far from look at who his lawyer is and who he showed up with. this is a political operation. let's not glues ove gloss over . does that mean necessarily he's incapable of telling the truth? well, no. i think everybody has come to

the conclusion. unless you're able to corroborate what he said, there's no way you would rely on him to bring up a prosecution. dagen: he presented no evidence of russia collusion. he said he had suspicions about it, suspicions of a known lawyer. >> that's the core of the mandate. the southern district of new york is going to continue to investigate apparently the trump organization until the justice department in washington puts the brakes on that. first point. right. there's nothing the president can do about the manhattan district attorney's office continuing an investigation, nor can it do anything with regard to the new york attorney general. they all have problems in new york with regard to potential arguments involving double jeopardy. this stuff apparently is going to go on for the life of the trump add medicine strayings. maria: -- administration. maria: can adam schiff keep this up,. >> eventually they are going to run out of runway with regard to the collusion investigation and that is going to come when the

mueller report comes out because that's what it's going to say, they do not have sufficient evidence to prove that there was collusion with russia. on the right side of justice from day one. >> that ought to be the ends of it. maria: robert wray, back in a minute. liberty mutual customizes your car insurance, so you only pay for what you need. nice. but, uh... what's up with your... partner? oh. well, we just spend all day telling everyone how we customize car insurance, because no two people are alike, so... limu gets a little confused when he sees another bird that looks exactly like him. [ loud crash ] yeah. he'll figure it out. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪

maria: welcome back. the second u.s. and north korean summit ending early without a deal. ed henry is live in hanoi right now with more details. ed, good morning to you. >> reporter: great to see you. the president had telegraphed

that he believed there was going to be in his words a great success from these talks just a few hours before they basically broke down. i don't want to say they completely fell apart because the president came out and addressed the international media here a few hours ago in vietnam and said that he still believes that in these private talks he and kim jong un made progress on denuclearizing the korean peninsula. his secretary of state, you see him there, mike pompeo backed that up. pompeo said that they are further along in terms of getting a deal than they were 36 hours ago, when everything got going in hanoi. the problem, the sticking point, though, is that kim jong un would only put part of his nuclear program on the table for dismantlement for denuclearization in exchange, he wanted the u.s. to lift all sanctions. as the president got a question from david sanger of the new york times, the president pointed out that was simply not enough. watch. >> did you get into the question of actually dismantling the

complex? >> yes, absolutely. >> did he seem willing ultimately -- >> totally. >> to take all of that out? he wants all the sanctions off first. >> he would do that but he wants sanctions for that. as you know, there's plenty left after that. i felt it wasn't good. mike and i spent a long time negotiating and talking about it to ourselves and just i felt that that particular -- as you know, that facility, while very big, it wasn't enough to do what we were doing. >> reporter: the president's bottom line here before getting aboard air force one was that no deal is better than a bad deal. he left the door open to a third summit in the weeks and months ahead and seemed confident as well as pompeo was as well that they are going to get a deal down the road because the north korean economy's in such bad shape that kim jong un is going to have to come back to the table, maria. maria: ed, thanks very much. ed 4e7bly wit henry with the la.

venezuelan government is trying to offset losses caused by the u.s. oil sanctions. cheryl casone with that story in headlines. cheryl: venezuela has shifted some of its crude exports from american refiners over to india and europe. the country's oil exports are under u.s. restrictions as washington wants to redirect the country's oil revenue to opposition leader juan guaido. during his news conference in vietnam earlier this morning, the president did talk about the crisis in venezuela when asked. >> we're sending a lot of supplies down to venezuela. people are starving to death and you would really think that the man in charge currently would let those supplies get through. we are getting them into some of the cities and some of the areas that need them the most and it's not an easy job. it's very difficult, actually. cheryl: well, he said he would return to venezuela from colombia and call for protests in that country. the venezuelan government is

threatening to jail the opposition leader if he returns to venezuela. back to you. maria: what a story. thank you, cheryl. coming up, no agreement reached, the second summit between the president and north korean leader kim jong un has ended with no nuclear accord signed. we'll talk about what happened next up. stay with us. this isn't just any moving day.

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maria: welcome back. breaking news this morning, president trump's summit with kim jong un ended without a deal and it ended sooner than we expected. lauren simonetti joins us with more on that. you watched the whole thing earlier. lauren: it was pretty abrupt. we were supposed to have a working lunch followed by a joint signing ceremony. instead of having the joint signing ceremony, at the same time essentially we have donald trump giving a press conference about what went wrong, this is what secretary of state pompeo had to say.

>> unfortunately, we didn't get all the way. we didn't get to something that ultimately made sense for the united states of america. i think chairman kim was hopeful that we would. we asked him to do more. he was unprepared to do that. lauren: we wanted a win. we wanted -- north korea even discussed taking yungbon, their nuclear facility, dismantling that. the united states continued to push. you're looking at pictures of the lunch table. they were supposed to sit down and break brai breads over lunch before the deal. they was snow fish, apple jelly, tea, they were supposed to sit down and do that but they didn't. they did sit down last night for dinner. the americans brought the steak. they had steak. the north koreans brought the shrimp and they each ate. in singapore, the north koreans

didn't eat the food that the americans provided because they were afraid, according to ed henry of fox news, that it would be poisoned. now we have more of a trust building on both sides and we can talk about it through what they ate. maria: that's good. >> was it trump's steaks? >> it was grilled sirloin with kimchi to be exact. maria: the consensus from the 357b he'lpanel was this was a g. dagen: kim said when asked about a denuclearize, he said if i'm not willing to do that, i wouldn't come here. maria: president trump heading back to the u.s. a after reaching no nuclear agreement e. we'vagreement.we've got the lat. back in a minute.

maria: welcome back, good thursday morning, thank you so much for joining us. breaking news no deal. summit ended early in hanoi after kim jong un want sanctions lifted and the u.s. pushed back. president trump not worried about haying home without a pack. >> i could have 100% signed something today. we had papers ready to be signed but it just wasn't appropriate. i want to do it right. i much rather do it right than fast. maria: more highlights coming up from the president's news conference. futures indicating decline at the start of