(auctioneer) 11 million sir. (man) once they discover their privileges are no longer exclusive... their fragile reality will plunge into disarray. ♪ inside the trump administration's department of justice. >> the administration doesn't necessarily want to be questioned on any of its policy. >> main justice. new episodes drop every tuesday. >> all of this can be overwhelming, but it is important to remember there are still checks and balances. there's a lot being thrown at the american people right now, and it is really important to pay attention to it, but it is just as important to recognize how many of those things are getting announced. but they're not happening at all, or at least not yet. just try to remember we are not looking at the final score. we are still in

the first quarter. keep your pads on. the game has just begun. >> right now on. >> ana. >> cabrera reports. >> watching wall street. the dow. already down this morning as recession. fears roil. >> the american economy. >> how will the president address. >> this turmoil. >> as he meets. with ceos today? >> plus, the canadian leader. >> upping the ante against trump's trade war. >> ontario premier doug ford. >> joins us on his. >> threat to cut. >> off. >> electricity to. >> northern u.s. states. also ahead, breaking news. >> overseas as the u.s. and ukraine meet for peace talks. >> but an overnight. attack on moscow. complicate the negotiations. >> and later, the vice president on capitol hill. this mor with just three days until a government shutdown, a vote expected in hours. do republicans have. >> their. >> party in line? >> good morning. it's ten

eastern, 7. >> a.m. pacific. >> great to have you with us. i'm ana cabrera, reporting from new york. and we begin with a. >> tense morning on wall street. the markets. >> now, just. >> 30 minutes. >> into trading the dow down, as you can see 145 points right now after one of the worst days in. >> years. >> succumbing to. >> the combined pressure. >> of the president's escalating. >> trade war. and refusal to. rule out. >> a. >> recession. >> president trump is set to meet face to face with business leaders in just a few hours. >> with the. >> backdrop of an american economy in turmoil. let's discuss with frank holland, the anchor of cnbc's. worldwide exchange. eugene daniels, msnbc senior washington correspondent and incoming morning host of the weekend here on msnbc. >> also with us, catherine. >> rampell, who we can now announce will officially be joining msnbc as a. co host of the evening edition of the weekend on saturday and sunday. so first, welcome. congratulations, catherine. >> it's so. >> great to have. >> you as. >> part. >> of the family. eugene, we

already had our. >> celebration. >> i think. >> last week. >> but really fun to. >> have you. >> both on with us. i'm going to get to you guys in just a moment, but let me start with you, frank. >> we just. >> saw this. >> big sell. >> off in the last 24 hours. >> how are. >> the markets doing this morning? some 30 minutes now into. >> trading later on. good morning to you. kind of a. >> mixed start to the trading day right. now. the s&p just slightly higher right now the dow down more than 100 points. the nasdaq coming off its worst day since 2022 bouncing back somewhat up just about a half a percent. but that certainly isn't easing the concerns about the stock. market that. >> has lost. >> and i want you to make sure you're hearing this number correctly. $4 trillion of. market value since its. >> all time high less. >> than. >> a month ago. i'm talking on february the 19th. city putting out. >> a note. >> saying that us exceptionalism, it's at least paused is giving you a sense of the sentiment on. >> wall street. >> so all this action in the stock market is one thing. there's also rising concerns about the. >> us economy. >> remember the stock market and economy, they're not the same thing. but these economic worries are certainly fueling these stock market declines. >> important to note. >> that it's not just. one thing

that's impacting the stock market or the economy. it's tariff concerns that are fueling inflation, concerns that are fueling recession concerns, kind of like a snake eating its own tail. and now there's new concerns about the consumer. that's especially after delta airlines warned it. expects profits to be lower than previously indicated because of a slowdown in both business and consumer spending and travel. and this morning, some popular retailers like kohl's and dick's sporting goods also painting a picture of a consumer slowdown. then there's the tech trade. that tech trade has really powered the stock. market over the last two years. it's certainly unwound in recent days. and one of our most notable. >> personalities here on. >> cnbc. >> jim cramer. >> of mad. >> money, he made a statement yesterday. a lot of people are paying attention to he's saying the magnificent. >> seven. >> that's the basket of stocks that have really powered the stock market. those eye focused stocks just doesn't exist anymore. >> according to cramer. >> he says tesla and nvidia, an ai name that's gone from obscurity to ubiquitous. they're just not magnificent anymore, according. >> to. >> him, he says. they're just not magnificent. they're simply meme stocks right now, the kind of twist and. >> turn on investor. >> sentiment, sometimes called

animal spirits. so coming up tomorrow, we have a big economic report. we have an inflation read, cpi. a hot read. >> i don't want to i don't. >> have a crystal ball, but a hot read could lead to a very big market reaction more than likely to the downside. it's also the last read of inflation before the march fed meeting. so there wasn't a lot expected in that fed meeting, but that could possibly change. we did hear from fed chair jay powell on friday. he said. that the fed has taken a wait and see approach. >> when it comes. >> to the trump policies and rate cuts, but recession concerns, they're certainly growing louder and louder. >> yeah, frank, as we've been. >> talking. >> the markets. >> keep crashing. they keep. >> going down. started at down 145. now we're at down 416. now 418. did i hear you correctly. >> $4 trillion in market loss. >> in the recent weeks. >> well now that we're. >> we're. >> past the. >> opening bell. >> that number. >> is. >> probably increased. >> as you mentioned. >> a lot of people are going to say i'm bad luck. >> right now. >> but the dow certainly took a big move. >> to. >> the downside while we were talking. >> now down more than 400 points, the s&p often.

>> called the broader market. >> down more than three quarters of a percent, the nasdaq losing all of. >> its gains. >> a bit of a bounce back. it was up about a half a percent now down a quarter percent. but yes, you absolutely heard. me correctly. and as we've just seen a big change in momentum when it comes to. >> the stock market, a lot of. >> money going out to those big name tech stocks like nvidia, tesla. >> and amazon. >> and microsoft and alphabet. >> and moving to other what we often call defensive parts of the market, things like healthcare and utilities. these are things that pay dividends. investors looking for some protection away. >> from some of these declines in the. >> market, a lot of money also going. >> into. >> the bond market. so we're. >> looking at the ten year. >> that's often seen. >> as a read on. >> what things. >> are going to. >> cost if you want. >> to finance them. >> we've seen. >> the. >> ten year. >> yield decline by. >> about 50 basis points from its high earlier this year. that's an indication that investors are putting money. >> into bonds. >> looking for. >> safety from all. >> this volatility. >> all right cnbc's frank holland appreciate you breaking it down for us. thank you so much frank. catherine. just seven weeks into trump's second term what's your take. how is the us economy. >> trump inherited what was

actually an excellent economy whether or not voters recognized it last november we had very low unemployment cooling if not cool enough inflation, strong gdp growth. we were. hopefully still are to some extent the envy of the world. and the best thing trump could have done for this us economy is just nothing at all. like go play golf and let the trends continue as they are. instead, he seems to be hell bent on sabotaging it. i mean, whether or not he recognizes that that's what he's doing, that is what he's doing. >> i have. >> argued for years. that presidents. >> get too much. >> credit when things are good, too much blame. when things are bad, they get too much responsibility. they don't control the economy. it really feels like trump is single handedly trying to disprove me by doing all of the undertaking, all of these policies that are very detrimental, whether we're talking about raising prices through tariffs or raising the tariffs and suspending the tariffs and raising the tariffs again and again, which creates more uncertainty, which makes it almost impossible for businesses

to make investment decisions or other kinds of sabotage. things like threatening to deport large chunks of critical labor forces in agriculture, for example, picking fights with the federal reserve. all of those things are bad for economic stability, verging on, you know, potentially dragging on economic growth and raising the threat, i will say not not definitively dooming us to recession or stagflation, but certainly raising the threat of those outcomes. eugene, of course, the stock market's. >> just one. >> little blip. >> when it comes. >> to the. >> broader economy. >> and the. president hasn't said. >> much about the market sell off. the white house. >> has been. downplaying the. >> turmoil at large. >> any sense if it's different behind closed. >> doors. >> are they worried? >> not really. they believe that what they're doing is. >> the right way. >> president donald trump. >> you know. >> his his financial. >> team, his. >> advisors. they think this is the thing that they should be

doing these tariffs. they think it in the long run it will pay off. you heard president. >> trump last. >> week in his joint. >> address to congress. >> basically telling people. >> farmers especially, that you might feel the pain, but it's going to be worth. >> it in the end. >> now, i. will say it's not just the stock market. >> you also. >> have consumer. >> confidence is down. >> right. >> and so. >> what that tells you is that. this a lot of this is also going to be on the pr side of things. how much does the white house, how much. >> does. >> president trump. talk about how people are feeling. >> they should i. >> think, you know, president joe biden learned a valuable lesson. and when people feel something about the. >> economy. >> it's very hard to. >> pull that back. >> so whether. >> or not the president and his team are going to keep. talking about hearing. >> how people are feeling and talking about what. they're actually doing to make egg. prices cheaper, for example, the kinds of actual evidence they have that they're going to be making moves on those in recent in soon to be weeks and months so that people feel better about

the economy and taking that seriously. otherwise, even some of his closest advisers do believe there could be some political risk. >> down some. points. catherine, you know, stock. >> market has. >> mattered to president in. >> years past. he's touted it as. >> a measure. >> of. >> his success. personally. here's a. sample of then and now. >> i don't want to say this. it's too braggadocious, but we'll say it anyway. the trump effect. it's you. you're the effect. since the election, the stock market has surged. i was very proud to have handed over the country, and the stock market was higher than it was previous to the pandemic coming in. it was an amazing achievement. >> now we've. >> got tariffs and the market has been going down. >> well, not much. i mean, in all fairness, you can't really watch the stock market. >> what do you make of the president changing his tune i. >> well donald trump has never

been overly concerned with intellectual consistency, to put it mildly. but yes, he has always claimed credit when markets go up, whether or not it has anything to do with his actions and of course abstains from blame when markets go down. and in this case, i think it is pretty directly related to his own actions. probably markets were overvalued to some extent last year, but trump is destroying some of the fundamental strengths that the united states has. so it's not just a correction that i think we should be worried about. it's, again, if you are a business and you don't know what your price structure will be because you don't know whether there will be tariffs, where there will be tariffs, how that will affect your supply chain. it's very difficult to make investment decisions. it's difficult to make hiring decisions. it's difficult to make purchase decisions. all of these things suggest that companies are going to hold back and pause. and that means at the very least, slower growth and potentially worse declines in growth. i mean, that's what we talk about, really, when we're talking about a recession is that the economy turns downward

overall, including growth, unemployment, etc, or hiring. so it is true that we probably should not pay that much attention to the stock market, even when times are good. i've said this many times when he bragged about the stock market, but in this case, i think the stock market really reflects concerns about the real economy. stocks are essentially a measure of expectations of future profit flows for companies. and we've seen a lot of companies say in their recent quarterly earnings that they are concerned about how the tariff landscape will affect them as as well as what it will mean for consumers if, in fact, they become a lot less confident about the economy and their spending. >> and just. >> to highlight. >> some of the. >> unpredictability. >> the instability. there's back and forth, the herky jerky nature of some of these decisions. president trump, as we've been talking, just announced on social media on truth social that in. response

to canada placing a 25% tariff on electricity that comes into the us. he is enacting a 50%. tariff on all steel and aluminum coming into the us from canada, set to go into effect. tomorrow morning. >> he says. >> so. >> eugene, we know president trump is set to meet today with a business roundtable, including ceos from some of the biggest u.s. companies. >> like apple. >> jp morgan. >> walmart. apple stock lost. >> 4.9% value yesterday. jp morgan is among. >> those upping the probability. >> of a recession this year. >> companies like best. >> buy. >> and target have warned of price hikes for consumers because of the tariffs. >> is the. >> president truly listening to these business leaders? >> i guess we'll find out. >> right one. how honest are they going to be about the impacts they're feeling right. >> it's one thing to, you know, say something in a story as a blind quote. >> or do an interview, but when you're sitting in those meeting rooms in the white house, not

everyone continues to be as honest and forthright with with the president of. >> the. >> united states, not even just donald trump. >> with any of them. right. the power. >> of that building does kind of shrink even some of the most powerful people in this country and in the world. >> so if. >> they're very honest with him about the impacts, the question then is will. >> he hear. >> it right? donald trump believes that he understands the economy, as he would say, better than anyone. and these, this, this, the tariffs, all of the way he thinks about the economy, it isn't new. it isn't when he became a politician. that's how he's been thinking about all of this for a very long time. and for him and his aides, they see it as a question of fairness. and this back and forth is something he thinks that he's going to be able to win because he thinks canada, for example, is going to back down. >> all right. we will see. i'm going to speak. >> with the leader. >> a leader from canada right now. thank you. both eugene daniels and catherine rampell. great to see you both again. welcome to the msnbc family. and joining us now is doug ford, the premier of canada's most

populous territory, ontario. and premier ford. as we mentioned, president trump is now saying he is enacting a 50% tariff on steel and aluminum from canada, which will go into effect. >> tomorrow. in response. to your. >> actions, what's your reaction? >> well, first of all, thank thank you for having me on. i start every interview with saying we love americans, i love americans, spent 20. >> years. >> of my life there. and i know canadians. >> love americans and. >> vice versa. and saying that. we will not back down. >> we will be relentless. >> i apologize to the. american people that president trump decided to have an unprovoked attack on our country, on families, on jobs, and it's unacceptable. >> let's work together. >> let's get to the table if he has issues and let's sort this out. you see the market tumbling. consumer confidence is down. and continues on with this, assembly plants in michigan will shut down. and around the country who makes autos. and as well as businesses

they're going to hurt. and these pensions, when the market goes down it's going to affect people's pensions. so i'm not too sure why he continues to attack his closest friends and allies, but we need the american people to speak up. we need those ceos to actually get a backbone. and stand in front of them and tell them, this is going to be a disaster. it's mass chaos right now. that's what we need. >> well. >> he'll have a chance to hear from those ceos today. as we just mentioned, if you're talking deescalation at this point, what would it take for you to remove that surcharge on the electricity coming into the us from canada? >> well. >> doubling the tariff on aluminum. >> that the us. >> only can manufacture 16% aluminum, that they need. the balance for the most part, comes from quebec. over 60, 65%. it's going to hurt your manufacturing. you need the aluminum. you need our high grade nickel. and i want to send more high grade nickel. you need our electricity. you need the

4.3 million barrels of oil that gets shipped down. i want to i want to make sure we build an american fortress. the two greatest countries in the world. fighting like this does not make sense. but i will respond appropriately on the on the electricity. stay tuned. >> so what does that look like? what are the potential responses? >> well we'll see. i'll talk to the team and we'll make an appropriate response to president trump. again, i stress this is not the american people. canadians know it. and if we go into a recession, it's self-made by one person. it's called president trump's recession, which shouldn't be this way. we should be booming both countries right now. >> have you and your team. talked with president trump or members of the white house since the beginning of all of the tariff back and forth, specifically since you had implemented this 25% surcharge on electricity coming into new york, minnesota and michigan?

>> i've talked. to the. >> three governors. i've also talked to secretary lutnick and secretary lutnick and president trump. you like the guy. you don't like him. they understand their business people. and for this to be unrolling and putting the whole country and canada into a potential recession over what he should be focusing on china, he should not be focusing on his closest neighbor and ally. >> if you could. >> talk to president trump right now, what would you say? >> stop the chaos. it's hurting american families. it's hurting canadian families. there's uncertainty. and the markets dislike uncertainty. so do business. so do investors. so do people. they want to know that they're going to have a job and we're going to have a booming economy. he's done the total opposite. he ran on a mandate of creating jobs, lowering inflation. and it's backfired on him. and he has to step up and change course. inflation is

happening right across the country. and the unpredictability that he's put to the markets. the markets are speaking, people will be speaking and businesses will be speaking as well. >> president trump has cited fentanyl crossing the border as a big reason for the tariffs. of course, he's also repeatedly called for canada to become america's 51st state. what's your sense of what this is really. >> all about? >> why do you think president trump is doing this? >> well. >> he believes there's. >> an unfair trade. deal that he created. i remember his words. the greatest deal ever. i guess it's not the greatest deal to him anymore, but let's resolve it. let's sit down across the table and let's work this out, because all it's going to do is hurt american families. it's going to hurt canadian families. and it's not just american and canadian. it's going to affect the whole world. while china is ramping up for the last ten years. >> as. >> we've all been sleeping, they're taking over the critical mineral sector in the entire

world. but there's one area that has more critical minerals than anywhere in the world. that's ontario. and i want to make sure it goes to our closest friends and allies and protect america and canada. >> you guys are going through a transition in leadership as well. you're about to have a new prime minister, mark carney. have you spoken to him since he won? and where do you expect him to take this fight? >> well. >> i spoke to him yesterday. he's a very bright individual. he understands finances like no other person, and we need to sit down, which we will tomorrow. we're going to have breakfast tomorrow morning and we'll have a strong strategy. he understands that it's not the american people, it's one person and that's president trump. even the republicans i speak to behind closed doors governors, senators and congresswomen and men, every one of them. i've talked to, a tremendous amount of them, said they totally disagree with this approach. why

attack your number one customer in the world? we buy more goods off the us than any country in the entire world. we want to continue buying more goods and our supply chains are so integrated. i always say, anna, that you you cannot unscramble an egg that's been around since the 1960s. in the tiktok you have to make a larger omelet, and there's an opportunity to bring companies from all over the world into the united states, into canada, and produce more goods. >> ontario premier doug ford, thank you so much for your time. we appreciate you joining us. >> thank you so much. god bless america and god bless canada. we'll get through this together. >> thank you. >> thank you. up next talks today between the u.s. and ukraine over ending the war with russia. the conditions the trump administration is laying out as ukraine launches a massive new drone attack in moscow. also, the race to avert a government shutdown. will democrats help if speaker johnson can't keep his party in line? plus, the

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they are going to. try to shut the government down. >> every house democrat. >> will participate in this. it looks like that would be a shame. >> if it's true. >> i hope some of them will have a moment of clarity themselves and do the right thing, but it looks like they're going to try to shut down the government. it's a striking new posture for democrats, who have always said they've just been apoplectic about the prospect of government shutdowns. >> i put a video. >> out about an hour ago on social media. i encourage you. >> to. >> go see. that this is their they have been their own words. you don't need to trust us on this. but katherine clark, here's one little zinger from her quote. not only is it irresponsible and purposefully misleading, but it's also. >> a. >> dangerous precedent to be threatening a. >> shutdown, unquote. >> now, remember, this is this is. last year, years past pramila jayapal, quote, the tragedy here is all the. civilian employees. it's the employees who are going to suffer, unquote. aoc quote, it is not normal to. >> hold 100,000. >> workers paychecks hostage. it is not normal. >> to shut. >> down the government when we don't get what we want. >> end quote.

>> i don't think i've ever agreed. with her before. >> she's exactly right. >> jerry nadler said. >> quote. >> shutdown is really an extremist policy designed to appeal to an extremist base and hold the whole country hostage. >> yeah. >> we agree. so they and all their colleagues need to do the right thing. democrats have been insisting they're fighting for federal workers. you're about to see again on. vivid display. very clear the contract. you will see one team that is working to fund the government and make sure we do the responsible thing. and you're going to see another opposing the cr because they've now exposed the truth. they're not for federal workers. they're not for anyone. all the people they said in the past that are going to be harmed would be by their votes. they're using federal employees as props. they're using medicaid benefits and social security checks as cudgels in this thing. the threat of government. >> shutdown. >> they're using it as some sort of attempt to wrestle. power away from the president of the united states, who overwhelmingly won. >> the. >> popular vote, the. electoral college in every single swing state. here's the bottom line if congressional democrats refuse to support this clean cr cr. they will be responsible for

every troop who misses a paycheck for. >> every flight. >> delay from reduced. >> staffing at tsa, for every. >> negative consequence that comes from shutting down the government. i understand they have an important retreat this week. boy, i'd love to be a fly on the wall at that party comes at a critical time since they don't have a leader, a message or a platform. and i'm just going to say this if our democrat colleagues want to increase their 21% approval rating with the american public, they ought to start by doing the right thing and keeping the government open. i think that would be a great first step. so i'll take questions. >> chad. good morning. >> you continually criticize the democrats here. doesn't that imply that you don't have the votes on your side, because you wouldn't need democratic assistance to keep the government open? >> no, we'll have the votes. we're going to pass the cr. we can do it on our own. but what i'm saying is democrats ought to do the responsible thing, follow their own advice in every previous scenario and keep the government open. it's their choice. i wish it could be a

unanimous vote in the house chamber today. that would be a great thing for america. but they're not going to do it, chad, because they're on this, this lost, you know, they're wandering in the wilderness and they're cursing this guy at the same time. and you're. >> going to see that today. >> they're going to vote no, and they're going to come out and try to pan it, and they're. >> going to. >> lie about it. and we're calling on you guys to call them to account, make. >> them tell you the truth about the bill. they didn't. >> read it before. they said all that nonsense. so ask them that. ask them how they. yeah. money. >> the president went after. >> one of your. >> own colleagues yesterday, thomas. >> massie. >> who does. plan to vote against this. >> he says he should be primary. do you agree with the president? should thomas massie be primary for his vote against this? >> look, i'm in the incumbent protection program here. that's what i do. speaker of the house. and you know me and my style and my you know, the way i do. >> this. >> job, i don't. i bless those who persecute me. right. so thomas and i have had disagreements, but i consider thomas massie a friend. >> he's a. >> thoughtful guy.

>> he's i. >> guess he'll he's doing what he thinks is right on this. i just vehemently disagree with his position, but i'll leave it. >> at that. >> mr. speaker. >> mr. speaker, you in the past did not. >> vote for crs when you were a rank and. >> file member. you have said. >> in the past that you were done with short term crs. >> by my. >> count, my math might be a little off. this would be the fifth continuing resolution that you're presiding. >> over as speaker of the house. yeah. what do you say to your conservative colleagues who have heard you in the past, promise. >> that you were going to start to go through a regular appropriations process, but yet again, find themselves in a position where they have to take a difficult vote on a cr. >> yeah. >> it's a great question. i'll rewind and replay the chairman of the house freedom caucus here, doctor andy harris, who said it so well, this is a different cr than anything we've seen in our careers in congress. >> i've been here eight years. >> he's been here a bit longer. it it normally is something that's a patchwork to give us more time to try to get to the appropriations process. this is totally different. a year long cr, which is the first that i think. >> we've had. >> i don't know that there is a precedent for an actual year long cr. it solves the problem

because it freezes federal spending. it takes care of these. >> immediate priorities. >> that have been articulated here, and it allows us to move forward with changing the size and scope of the federal government. there is a seismic shift going on in washington right now. this is a different moment than we have ever been in the doge work is finding the massive amounts of fraud, waste and abuse. we have a white house that is. >> actually dedicated. >> to getting. >> us back. >> on to a fiscally responsible track. we're going to scale down the size of the bureaucracy and the agencies, which has become the fourth branch of government. none of that was was present or true before. when i became speaker, i inherited a real mess. we had joe biden in the white house. we had divided government, and it was a very difficult thing for us to navigate through. i didn't get to do anything i wanted or thought was really important for the country. i did. what we had to do, what was necessary, what we could get 218 votes for. this is a totally different scenario. by doing the cr this time, it actually is the responsible play

and the conservative play, because we are conserving the resources of the american people. and this is this is something that all of us have wanted to do our whole careers, and we now have the opportunity. >> so would this be our last cr. >> sir, will you. >> support a cr? >> well, yeah, this is what i expect is that this white house is going. >> to actually do. >> its job. what a concept. this white house is going to send us a budget that that has this hasn't been done in a while. this white house is going to send us a budget that's going to request funding for a smaller, leaner, more efficient, effective, accountable federal government. that is a new paradigm for us, and we're excited about that. that's what we'll be working on as soon as we get fy 26 off the table. by 25, we turn to fy 26. and that's when we have all the cuts that and the savings that will be actualized at that point. there's a there's a process as i've explained in here, you have to qualify those savings. you got to quantify them and then you codify them. well, the codification process comes for fy 26. you're going to see the administration and the congress working in tandem to provide and

present a better government for the people. and that is something many of us ran for congress to do. that day is now upon us, and we're excited about it. >> mr. speaker, mr. speaker, the stock market. >> plunged yesterday. >> it's going down. >> again today. part of the reason is because of. president trump's policies on tariffs, including the ones that. >> were just introduced this morning. >> can you. >> comment here? does trump need to rethink what he is doing given the chaos that we're seeing in the stock market? >> this this is how i feel. about it. many of us feel about it. the president has already proven what he can do on the economy. this is not theoretical. look at the first term of the trump administration prior to covid. we've talked about this many times in here, times in here. after the first two years of trump administration, we had the greatest economy in the history of the world, not just the us. go check it. we had every demographic was doing better. all boats were rising. we had a thriving us economy. we were booming. and that's because of the policies and the strategy that president trump led and delivered. we cut taxes, we cut regulations. we let people keep

more money in their pocket. and we made america the first priority. that is what he is doing again. now he's got to he's got to reshape and shape things because it's in a real mess. the last four years was a disaster in economic policy in every other measurement of public policy. so what president trump is doing, i think of it sort of like a like like when you're playing billiards and you're playing pool, right? you go on the table and the balls are racked, right? and you hit it as hard as you can. this is many people's strategy in the game. you hit it as hard as you can to break up the balls on the table and send them spread. then you play the strategy of sinking them in the holes. right? that's what we're doing right now. it is a shakeup. and he said there's going to be a shakeup right now. but this is what's required in my mind to start the process of repairing and restoring the american economy. i believe that the strategy is going to work. i believe that, you know, sometimes when the when you shake up that it's a it's a violent thing on the table, right in the game metaphor, but it always works out well in the end. and i think you've got to give him time. he's been in office for just over, what, 50 days? this is the

51st day in office. give the president a chance to have these policies play out. that's where we are on it. >> mr. speaker. >> mr. speaker. >> in your. >> estimation. what crime. >> did mahmoud. >> khalil commit. >> to warrant his. >> arrest, detention. >> and. >> revocation of his. >> green card? let me tell you something. the pro-palestinian pro-hamas protesters were there. i'm telling you, this is my own observation, not something i read in the newspaper. it was dangerous. i met with jewish students before we went to campus, who were hauled away off campus because they were instructed by the administration not to come to class, which they paid for fear of their physical safety. the administrators there refused to take control of that campus. they refused to allow the pd to come, the police department to come in and take control, and it turned into a chaos. the president has since been removed and now they got the same problem again columbia and other universities, they have to keep control of campus. the first responsibility of an administration is ensuring the safety of the students who are paying tuition to be there. for

crying out loud, this madness has to stop. we have to get control of it. this guy apparently was a mastermind of those very things. when the gnashing of teeth and the ripping of clothes and the people screaming at me, wanting to rip me limb from limb because i was there talking about moral clarity and how there's a right and a wrong. they were doing that. they disrupted the campus. they were threatening physical violence to their fellow students. if you're on a student visa, i'm going to say this clearly. if you are on a student visa and you're in america and you're an aspiring young terrorist who wants to prey upon your jewish classmates, you're going home. we're going to arrest your tail, and we're going to send you home where you belong. and that this is just getting started. so, look, i, i appreciate free speech. i used to defend it in court, but this is far beyond the pale of that. when you are threatening your classmates and spewing anti-semitism and all this hatred, it's enough. and i think the american people understand that they're supporting it. and i'm glad we have a president who's strong enough to lay down the law. >> thanks a lot. thank you. mr.

>> okay. >> speaker mike johnson addressing a couple of things, ending there with a question on mahmoud khalil, who is a palestinian protester who was detained. he was at the university of columbia or columbia university, i should say, here in new york. he is a green card holder, permanent resident. we're going to have more on that story later this hour. but really, the focus of the questions and answers there were about the continuing resolution, a bill to keep the government funded and avoid a government shutdown, a vote expected this afternoon. i want to go to our julie sirkin, our nbc news capitol hill correspondent right now, who's also listening in. he went after democrats. julie, interesting, because republicans have the majority. they could pass. >> this. >> bill with just republican votes. so why why make this about democrats? >> well, it's all politics here in washington. there's really nothing new. but the thing that stood out for me in that press conference was that johnson said unequivocally that they have the votes on the republican side of the aisle to pass this

continuing resolution that would fund the government through september. remember, it basically maintains biden era spending levels, does plus up defense spending, and it does cut some non-defense discretionary spending, which is one of the issues democrats have with it. a couple of minutes before johnson took to the podium, i talked to some republicans who were coming out of a closed door meeting with vice president vance, who was kind of trying to convince the remaining hardliners left and trying to flip them to a yes on this continuing resolution. several of them told me they are still undecided, despite the fact that president trump himself has been working the phones, according to sources, trying to convince them that they will claw back future spending. another issue democrats have with supporting this continuing resolution. for johnson, though, you heard him forcefully go after democrats there. he even posted a video on social media earlier, kind of splicing up all of the democratic positions on government shutdowns under then-president biden when republicans were threatening shutdowns, many of them, including speaker johnson. as you heard my colleague ryan ask, never support continuing

resolutions until, frankly, this moment and the last year. i want you to take a listen, though. on the flip side, what jeffries, the democratic leader in the house, had to say. >> this partizan. and reckless republican spending. >> bill fails. >> to protect social security, medicare. and medicaid, which we know. are on the. republican chopping block. it represents devastating. >> cuts and an attack on seniors. families and veterans. >> we cannot support this. >> bill johnson alluding to the fact that jeffries, as you heard him there, saying that republicans will cut entitlements, saying that's not true, that might not be in this continuing resolution, but democrats certainly don't want to unlock and give the keys away. and the power to the trump administration that wants to claw back some future spending, not necessarily those entitlements, but certainly they're going to eye on making some cuts in their house budget effort that would fund the president's agenda. that being said, though, if the house does manage to pass this later today, that will put a lot of pressure on senate democrats. anna. >> yeah. so more to come, obviously. i should mention also

elon musk is talking about going after social security and medicare. right now he seems to have a lot of power, a power in this administration. julie sirkin, thanks so much for the update. up next, some breaking news from saudi arabia, where talks are underway between the u.s. and ukraine to reach a u.s. and ukraine to reach a peace [restaurant noise] allison. [swooshing sound] introducing allison's plaque psoriasis. ♪♪ she thinks her flaky, gray patches are all people see. ♪♪ otezla is the #1 prescribed pill to treat plaque psoriasis. over here! otezla can help you get clearer skin and reduce itching and flaking. doctors have been prescribing otezla for over a decade. otezla is also approved to treat psoriatic arthritis. don't use otezla if you're allergic to it. get medical help right away if you have trouble breathing or swallowing, swelling of the face, lips, tongue, throat or arms. severe diarrhea, nausea or vomiting; depression, suicidal thoughts, or weight loss can happen.

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1-833-735-4495 or visit homeserve. >> com this morning. >> top u.s. and ukrainian officials are sitting down for a high stakes meeting to reset their relationship and to focus on a potential peace deal with russia. secretary of state marco rubio is leading the u.s. delegation, while top ukrainian official andriy yermak is representing kyiv. this meeting comes nearly one month after the russian delegation met with u.s. officials, also in saudi arabia, and less than two weeks after zelensky's oval office clashed with president trump, where zelensky was accused of being ungrateful. nbc news chief international correspondent keir

simmons is in jeddah, saudi arabia. also with us, former deputy assistant secretary of state joel rubin here. ukraine says their meetings have started off constructively. what does that mean? what are you learning? >> yeah. >> well, there does seem to be positive signs from the meeting which has been now going on for hours. just a little bit of breaking news for you. our own garrett hake, told by a source familiar with steve witkoff movements, president trump's envoy that he will head to russia later this week. i think the idea is, and this is what was described by secretary rubio on the flight over here. i think the idea is that the us understands the ukrainian side takes some of that to the russian side, understands the russian side and tries to get their arms around exactly how far apart these two sides are, and whether or not it's possible

to bring them closer together. what needs to be done in that respect? i will tell you, we just got a quick word from the state department spokeswoman, tammy bruce, who, as she headed back into the meeting or was around as the as the officials headed back into the meeting, she said fingers crossed the work continues. so it does appear that there are that is going pretty well. i'm not sure that necessarily we will have kind of fireworks at the end of this meeting, you know, kind of great documents signed or agreements made. i suspect that the ukrainian proposal, a kind of partial ceasefire on air and on sea that might be taken to the russians, for example, to see if that's something that they could could sign up to. not easy, by the way. i mean, you know, does that include drones? does that include drones on the front line? does that include long range missiles? i mean, what does a ceasefire honestly look like? is one of the many, many questions that i think as soon as you get into the detail, as with any talks like this, as

soon as you get into the detail it gets, it gets more difficult. and there are many things we do know from the way that things have been characterized by ukrainians and by us officials before this meeting, that there are many things, questions on the table, not least, of course, ukrainians very keen to see the those military supplies as those arms reinstated from the us and intelligence that the funnel of intelligence fully reinstated. so, so many, many questions and they and they're in there for hours. they're still in there. so just one other point. just real quick. the russians once again indicating that they're not in any hurry. the kremlin spokesman suggesting that people should not have rose tinted glasses about a change to their relationship with the americans. >> all right. keir simmons joining us live from jeddah, saudi arabia. thank you for bringing us the latest. so joel, we know as these talks got underway, ukraine struck moscow with the largest drone attack on the russian capital since the war began. how do you see that impacting these talks from a diplomatic perspective?

>> yeah. >> it's great to be with you. and this strike clearly is a response. >> to what. >> russia unleashed. earlier last week when the day after president trump withdrew intelligence support and munitions supply to ukraine, russia saw it as an opening and took advantage and hit kyiv. you know. >> look. >> what we're engaged in right now is important. there needs to be an end to this war. but it looks like the united states is doing a diplomatic, dirty work of vladimir putin. >> and that's. >> the problem. it's that we are providing and have been providing concessions. >> to. >> russia time and again. and now looks potentially as if there's a rebalancing on the table in jeddah. that would be nice. that would be a start. if steve witkoff goes to moscow, would be very helpful for him to tell the russians that they need to back off, that there are things that they need to concede, rather than the kinds of signals that. you're just. >> discussing. >> which is that they feel emboldened and in no hurry to get to a peace deal. >> right. and as kyra reported.

the white house did confirm that witkoff will be visiting russia. so ahead of this summit, we did hear from secretary of state marco rubio, who's sitting at this table today, and he appeared to say that ukraine will have to give up territory in order to get to a peace deal. let's listen. >> i think. >> both sides need to come to an understanding that there's no military solution to this. >> situation. >> the russians can't. conquer all of ukraine. >> and obviously it. >> will be very difficult for ukraine. >> in any reasonable time period. >> to sort of. >> force the russians. >> back all the way to where they were in 2014. so the. >> only. >> solution to this. >> war is. >> diplomacy and getting. >> them. >> to a. >> table where that's possible. >> joel, are those comments helpful? >> no they're not. and look, you know. >> what. >> did vladimir putin do to earn american concessions like this? what did he do to have us tell the world that ukraine will not go into nato? we're going to cut

off military supply, that now russia can have land from its baseless and aggression into ukraine. they did nothing. and so all this does is it takes leverage off the table. it makes a diplomatic deal harder. it makes it more likely that russia will continue to press and hold out for more. there's less incentive now for vladimir putin to come to the table in a meaningful way, and more incentive for him to wait and to watch the united states continue to push ukraine around and give further concessions. >> we are anxiously awaiting word as far as top lines that come from these negotiations between the us and ukraine, what they may take then onto russia. joel rubin, thank you, as always for your insights and expertise. up next, the wall street roller coaster taking more twists and apparent dives this hour as president trump threatens more tariffs against canada. we're live from the white house right after this. >> food this good? easier than

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right there. >> back to our top ten breaking

story this morning. stocks still sliding after yesterday's massive sell off on concerns over trump's tariffs and a potential recession. you can see right now as we look at the big board here, the dow is down 545 points. it keeps going down. that's on top of the 900 points lost yesterday this hour. the president has threatened even more tariffs on canada ahead of his meeting with business leaders this afternoon. let's go to the white house and nbc's garrett hake joining us from there. garrett, we haven't heard much from the president except to announce even more tariffs today. >> yeah. that's right. the president's. >> been. >> out of sight away from the cameras for. >> one of the. >> longest stretches. >> of his. >> second term. >> that long post on truth social just a short time ago, really going. >> after the. >> canadians. >> in response. i'm told to the. announcement from doug ford, the premier of ontario, about that electricity. >> surcharge. >> with this new increased tariff on. canadian steel. and aluminum. for context, the u.s. imports more aluminum from canada than several of the next largest. >> trading partners combined. >> this will have.

>> a major effect. and as it relates. >> to the markets, i think it goes to the concern that. >> these tariffs. >> that the president has been placing or threatening are a mix of retaliatory measures. measures meant to combat drug trafficking, he says. >> versus measures. >> meant to remake. >> the economy. >> this boosting of the steel and aluminum tariffs. >> set to go into effect. >> tomorrow, seems to be a combination of all three. part of his desire to remake american industry, but also to punish perceived enemies and to be, as we have heard. >> it said. >> so many. >> times over the last. >> eight years. >> a counterpuncher when he. >> feels like. >> he or the. >> united states are. >> being punched at anna. >> and you. >> are also tracking the latest doge movements. yesterday, elon musk indicated he's now eyeing cuts to social programs like medicare and social security. what all is he saying? >> yeah, musk has talked about the need to look under the. >> hood at. >> these agencies before. >> but it was. >> an interview on. >> fox yesterday. >> in. >> which he suggested that there is sufficient. waste at.

>> the. >> social security. >> department or in social security. >> payments, that. >> it. >> needs to be more closely looked at. >> i want to play you the sound bite and. >> talk a little bit more about what he said and perhaps meant on the other side. >> most of the federal entitlemt 700 billion a year, that is also a mechanism by which the democrats attract and retain illegal immigrants, by essentially paying them to come here and then turning them into voters. >> there's obviously a lot. >> in that. >> worthy of a fact. >> check, but i'll. >> focus on this. the white house has said that they believe. >> musk was talking about looking. >> for fraud there, and not cutting benefits to individuals. the concern that a lot of people have, and the democrats have raised. after they hear this, is that musk has not exactly. been using a scalpel as he's been going into. >> these. >> agencies, and that his vision.

>> of fraud or. >> abuse or. >> waste might. >> be wholly inconsistent with what's actually going on in. >> these agencies. >> and any tinkering he's doing could potentially. >> be more damaging. >> than the white house. >> is willing. >> to admit. >> up front. >> anna and i do think it's important to note that he was parroting there the racist great replacement conspiracy theory, some of the reasoning behind his desire to go into social security and medicare. garrett haake, thank you very much. meantime, days after immigration agents arrested palestinian activist mahmoud khalil. a judge has blocked his deportation. khalil was detained saturday near the columbia university campus in new york city. his attorney says ice agents claimed his student visa was revoked. but even upon learning he was actually a permanent resident with a green card. ice detained him anyway. the arrest sparked large protests here in new york yesterday. last spring, khalil helped organize the protests over the war in gaza on columbia's campus. president trump says more arrests like

this are on the way. let's go to nbc news white house correspondent aaron gilchrist for more now. aaron, we just heard speaker johnson a short time ago celebrate this arrest. homeland security claims khalil was detained for leading those activities, as they put it, aligned to hamas, but no charges. has the administration provided any evidence beyond just he was organizing protests? they didn't like evidence? >> no. at this point, we have not seen any evidence of any sort of crime having been committed here in terms of something that would necessitate an arrest and charges and potentially removal from the country. what we got from the department of homeland security was an explanation of sorts. two points. they said that this was this arrest was in support of the executive order that president trump signed prohibiting anti-semitism. and it was because, as you noted, he, quote, led activities aligned to hamas. again, no evidence presented to support that position, that he led activities aligned, aligned to hamas or was supporting a

terrorist organization in a material way. at the same time, we also saw a statement from president trump yesterday on his truth social social media site, where he called khalil a radical foreign pro hamas student, and went a little bit further in saying that there would be more similar arrests that would come of people who were a part of large demonstrations. and he went further to say, if you support terrorism, your presence is contrary to our national and foreign policy interests, and you are not welcome here. that i think could be an indication of an avenue that the government may pursue in trying to remove khalil from the country. there, while there may not be a criminal charge that we would traditionally see in a normal court setting, there may be some some room where the federal government can say that this is a person who's done something that doesn't align with foreign policy and national security goals, and that may be something that we hear more about in court. ana, there is a hearing scheduled tomorrow morning in federal detention for a federal detention hearing in court in

new york. >> okay. thanks for bringing us up to speed, aaron gilchrist. appreciate it. that does it for us today. thank you for being here. i'm ana cabrera reporting from new york. jose diaz-balart from new york. jose diaz-balart picks my mental health was better. but uncontrollable movements called td,tardive dyskinesia, started disrupting my day. td felt embarrassing. i felt like disconnecting. i asked my doctor about treating my td, and learned about ingrezza. ♪ ingrezza ♪ ingrezza is clinically proven to treat td, quickly reducing td by greater than five times at two weeks. number-one prescribed ingrezza has dosing that's always one pill, once daily. and you can keep taking most mental health meds. ingrezza can cause depression, suicidal thoughts, or actions in patients with huntington's disease. call your doctor if you become depressed, have sudden behavior or mood changes, or suicidal thoughts. don't take ingrezza if allergic. serious side effects may include allergic reactions like sudden, potentially fatal swelling and hives, sleepiness, the most common side effect, and heart rhythm problems. know how ingrezza affects you before operating a car or dangerous machinery. report fever, stiff muscles, or problems thinking,

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