senator max baucus. by the way, i call you senator because you were elected to that. ambassador is for guys who haven't been elected for that. and kelly, thank you very much for joining us. >>> coming up, president trump has shown a willingness to use military force lately. remember what he told me last rch our "hardball" town hall. watch this. >> look, nuclear should be off the table. but would there be a time when it could be used? possibly. >> okay. the trouble is when you said that, the whole world heard, they're hearing a guy running for president of the united states talking of maybe using nuclear weapons. nobody wants to hear that about an american president. >> then why do we make them? >> why do we make them if we don't want to use them? the political dangers of trump's new, well, interest in fire power. that's next. >>> plus progressives are fired up. democrats are i raing record levels of money actually, and republicans can't escape those angry town halls. wait till you see some tonight. the latest one happened last night in arizona where republican senator

max baucus is a former u.s. senator and former ambassador to china. and kelly magsamen is a former senior pentagon official in charge of asia in the obama administration. let me start with ambassador hill over there. what are the options? let's start with the options of our president, president trump. what can he do to shake kim jong-un off the course of going to an active nuclear power for lack of a better phrase? >> well, as everyone says, the options are pretty bad. the issue is not to choose even worse options. so i think what we need to do is to continue to work with the chinese. that sounds like, you know, an example of hope over experience. but clearly china has more leverage than anyone else. they're doing some things, as the president suggested. the question is whether the things they're doing in terms of the sanctions, whether that train is going to move along as fast as the north korean development of nuclear weapons. so in china's case, it may be with respect to sanctions a little too little, too late. >> senator bacchus, do the chinese ha

former max baucus, senator of montana and former u.s. ambassador to china. failedch to help their profits. they fell short of analysts estimates. let's get to our reporter with more. delve into these tech earnings. were lookingysts in on that switch sales forecast. why are they so conservative on their profit projections? that was a big reaction yesterday. the short answer is that they are very, very conservative on software. they see 35 million titles shipped, compared to the 10 million hardware. for every switch game they will buy 3.5 titles. analysts we surveyed expected about 4.7. nintendo being very conservative with how many games they think they can sell, which is surprising. when you think about what is already out, you have super mario coming out this holiday season. two already that every switch owner will buy. comes out today, and minecraft. nintendo came out with such a low estimate, which lowered their profit estimates, as well. nintendo is a conservative company, it looks like another one of those cases. every single analyst i talked to was sur

them and everyone can not reelect us, to do.ght be hard i think it's the cleanest way to do but max baucus gave committee members 50 years of confidentiality if they would just write a letter and say which tax breaks are you willing to give up. years of confidentiality because they are also afraid to say let's get of mortgage reduction or net interest expense the duction. a drop to 28% in terms of bargains, if i were in trump's shoes, one would think he's got to get something to show he is accomplishing and moving some programs forward. that may be they beginning of something he could get a little traction on. >> everyone talks about this in absolute terms but yet they don't talk about it in public. let's try this with a show of hands. how many people would agree to a on the duction of all expenses, state and local taxes and insurance, charitable deductions, etc.. how many people would agree to a cap of $200,000 right now. brazier hands. that is more than 60% of the group. >> and i think that was the trump plan. actually been a romney plan also. it is interesting. people don't hear that or

max baucus, the former ambassador to china. all onublican senator bloomberg.you are watching bloomberg tv. ♪ jonathan: from new york, this is bloomberg daybreak. that's how the market is set up. positive up 16 points. four points on the dow. yesterday, the fed officials, high valuation and we rolled over on the back of the fed minutes. them's sheet normalization. -- bounds sheet normalization. 235 on the 10 year. 234 is the jobless claims down from 259,000 in the previous month. , a median estimate was 250 k surprise, a downward surprise but positive that it is good for the labor market. joblessis the initial claims. i want to bring in paul and investmentk rock strategist. paul, let's start with you. initial jobless claims making the market look tighter. what do think about payroll on friday? may be revised up somewhat. the labor market looks robust. jonathan: we go back to the question, initial jobless , they cannot00 continue and that tells me there is more to go? to go.e is more we will putting with a strong labor market. we will see the unemployment rate f

. >>> joining me now, the former chief of staff and retired senator max baucus. he served as investigative council for the senate finance committee. also with us, david hoppy, former chief of staff for paul ryan and cnn political analyst rebecca berg and patrick healy is with us as well. i want to make sure we get everybody credit where credit is due. david, let's start with you. let's listen to the president talk about his first 100 days. >> i am asking the american people to dream big, once again. what follows is my 100-day action plan to make america great again. >> just think about what we can accomplish in the first 100 days of administration. >> ethics reform will be a crucial part in our 100-day plan as well. >> david, as you heard, president trump created high expectations for his first 100-day mark. why is he now suggesting otherwise? >> well, i think, as you said, back with franklin roosevelt, his 100 days started in march. president trump is no different and that's a way p capturiof ca what you want to do. if you look at our most successful presidents,

max baucus former ambassador to china. where to start, the meeting itself.t the winner based on their unstated goals? >> i have been to a lot of these sum mitts. nothing happened. >> is that a win for the chinese? >> i think it is. clearly they got to know each other, met each other. the chinese team was able to meet the new guys. that helps. >> with this 100-day plan, what is it? >> well, let's see what it is. i don't think it will amount to much. it comes down to weather the united states stands up to china in certain areas where it is being too protectionist. >> did we stand up to china? >> not at the summit, no. >> why? >> we didn't show that we need business. >> the stick if you will. what do you mean of this three-point potential plan that is put out there. what do you make of it? >> first of all, number one, it should be off the table. no reason whatsoever to put nuclear arms in south korea. number two, extremely dangerous. i don't know that we have the capability to do that. number three, we'll just have to see. >> yeah. >> but the main thing is this

envoy to china, max baucus, says the moment of truth on north korea is drawing near. >> that's goingput pressure on xi to find a solution himself. they haven't done a lot so far because they'd rather have stability on the peninsula than try to get him to stop doing what he's doing. we as americans have no choice but to try to find a solution with china. we cannot do this unilaterally. >> reporter: trade is another flashpoint between the world's two largest economies. china accounted for almost 70% of last year's $500 billion u.s. trade deficit. mr. trump spoke on air force during the campaign, denunciations of china were a constant refrain in mr. trump's stump speeches. >> don't forget we're the piggy bank. we've rebuilt china. they've taken so much money out of our country. we can't continue to allow china to rape our country. and that's what they're doing. >> reporter: last week, the president signed a pair of executive orders aimed at combating foreign trade abuses, but he has yet to carry out his campaign promise to formally label china a "currency manipulator." in a february int

. >> other hot spot here, max baucus said here this morning the air strikes are raising pressure on china to rein in north korea. let's look at what he said. >> as kim jong-un develops his missile and his nuclear capability to greater and greater degree, the clock's ticking. we're getting closer to the moment of truth here. so i think the strike force going to the area really has more pressure, greater signal on china. you, china, better get with the program here and help us out. >> do you agree, sir, we're getting closer to the moment of truth here? >> we definitely are. the way i think about it, alex, kind of two streams. one is the nuclear weapon technology miniaturizing it. the other stream is the ballistic missiles. it's like in ghost busters, you don't want those streams to cross. they are going to cross in the next 18 to 24 months. so, yes, that moment of truth is coming. moving a carrier strike group is a classic and correct move, because it gives the president more options. those carriers can travel a thousand miles a day. they can bring real fire power to bear. it's a signal not

>> max baucus is the former u.s. ambassador to china.r. >> good talking to you greta. >> when you think about this, when someone says what can you do, you put the worst case scenario on the table and the best case scenario. you worst case is nukes, i guess, on south korea. that's pretty bad. the best skas scenario is diplomacy actually works. we've not been successful in diplomacy. they still have a nuclear weapon program in north korea. so now we have china. if we outsource this to china and do believe china will do the right thing? >> well, there's no solution without china in my judgment. china is the big enchilada. this relationship, u.s.-china, is the most important relationship in the world. we need each other. we work with each other. we need to find a solution. about 80%, 90% of north korean economy is dependent upon china. china does have a lot of leverage. it is true china has not exercised as much as it should. why? because china wants the peninsula to remain stable. china abhors instability in the korean peninsula. now, this

in the meantime, max baucus who is the former u.s. ambassador to china is here. he state of montana. and ambassador baucus, thank you for joining us today. >> you're very welcome. good to be back. >> we earlier today spoke with the former prime minister of australia, kevin rudd, and asked him about where he thinks things are going to be shaping up. and he had some very interesting insights, just about how the two leaders are likely to sit down and talk about their own politics first, to find a way that they can each walk out of this with a win. is that how you expect things might actually go down today? >> i believe this is the most important summit president trump will be in his presidency. because the u.s.-china relationship is critical and it's getting more and more important each day. it really, in many ways, determines policy worldwide about how the united states and china get together. so the challenges are great. regrettably, i've attended a lot of these summits, so president obama and president xi. i can tell you they're very formal, they're very scripted.

. >> ambassador max baucus, good to have you with us. thanks. >>> still to come, president trump defends fox news channel's bill o'reilly amid multiple sexual harassment claims. trump calls o'reilly, quote, a good person. >>> and ivanka trump defending her role in the white house, responding to criticism that she is complicit in the controversies surrounding her father's administration. reaction today from house leader nancy pelosi. >> i think everyone knows what the word "complici"complicit" i. and it means s you're not work in the best interests of the american people. americans - 83% try to eat healthy. yet up 90% fall short in getting key nutrients from food alone. let's do more. add one a day 50+ a complete multi-vitamin with 100% daily value of more than 15 key nutrients. one a day 50+. if you have postmenopausal osteoporosis and a high risk for fracture... i can tell you prolia® is proven to help protect bones from fracture. but the real proof? my doctor said prolia® helped my bones get stronger. are your bones getting stronger do