commerce department is set to recommend a 7.7% aluminum tariff.ants to do 3.5% -- 23.5% duties on china and russia aluminum. -- 7.7% aluminum tariffs. the commerce secretary today said results will be announced later on. this was an instruction from the president last year to the commerce department to open the investigation under section 232 of the trade expansion act of 1962. we will get official word later but as of now, that is what sources tell us. mark: let's look at european equities and how they finished the week, you see green on our function, which tells you a story for the day and for the week. four days of gains. nding a three-week losing run, the longest since june of 2017 on the back of the biggest weekly drop for the european share gains with the stoxx 600 in two years. the benchmark last week falling 5%. this is another great chart, investors driving up yields on german bonds on speculation of faster growth in the european region and the diminishing risk of deflation will eventually bring the first increase in ecb 11.es since 200 n

[laughter] the manufacturing business grew 400% because of the export held from the department of commercend she now sits on our departments export council, so there is a real live story. [applause] i don't know quite where you are, but stand up and take it out to be cut about. i believe small businesses are potentially the biggest beneficiaries of the internet because the magnification of the internet is much more important to companies with limited internal marketing capabilities than it is to the great big giant companies, so i hope all of you will try to incorporate the internet into your activities. i'm sure you will get more advice from other speakers here today, and i hope you enjoy the rest of the conference. thank you. [applause] ♪

later this morning we're expecting the commerce department to publicize some of the recommendations that made to the white house on this multimonth investigation into steel and aluminum imports or what the white house called a steel and aluminum dumping this report concerns both steel and aluminum but we have obtained from a source with knowledge of the proposal some of the these recommendations on the aluminum industry according to this source, the commerce department has recommended to the white house a 7.7% tariff on exports from all countries. a 23.5% tariff on all products from china, russia, venezuela and vietnam. and import quota on all countries, that is a maximum of 86.7% of all countries, aluminum imports to the u.s. as of 2017 some of the most important information will be which countries are exempted that's the information that we are still hoping to obtain butthese high level numbers ar going to be extremely impactful for the aluminum industry and we'll see how the industry responds and how members of congress who have been pushing for action on either side of the aisle resp

even though this is what the commerce department came up with, the president has leeway to use them orlaimer on all of this -- what the president decides in two months is what happens. we have all of these numbers that came out today, markets often trade on speculative information that is how you can view what happened today. what they laid out for aluminum and for steel were very similar. three different steps. across-the-board tariffs. across-the-board tariffs for steel and aluminum. the second was we are actually targeting higher tariffs to certain countries. for aluminum, for countries, steel, 12 different countries. everybody else wondering what about us? you can only export to the u.s. equal to the amount that you did last year in 2017. in the last one, it is an across-the-board quota. every country can only export x amount into the united states that they did compared to last year. with aluminum, it was equivalent to 86%. steel, equivalent to about 63%. that was on the quota side. it is really in the weeds stuff, but people who are trading these markets, these are the numbers th

. >>> commerce department is recommending steep tariffs on foreign steel and aluminum. wilbur ross says he thought strong measures were necessary. that was enough to send steel stocks higher. kayla tausche is in washington with the details. >> reporter: the commerce department found cheap imports of steel and aluminum flooded the u.s. in recent years. the agency is rec president trump put restrictions on imports to restore u.s.he production80% of capacity. steel plant are running at less than 3/4 ofapacity and aluminum, less than half. there are three categories of blanketed tariffs for all, the second, targeted tariffs. finally a limit on the amount each country could exported to the u.s. the steel and aluminum agencies have urged washington toer considtrict penalties that would preserve their business. the ceo of in a -- of majesti steel w on capitol hill. >> without a strong industry it is a risk to our whether it comes to national security, infrastructure orra gene economic needs. >> reporter: some worry action would lead to higher prices and escalate trade tensions

commerce department proposal to impose curbs on steel imports into the united states all of that coming up but first let's get to some headlines. as the olympics continue in south korea south korean president moon j.n. said on monday that the general motors company decision to shutter a plant south of seoul in the city of gun sin would be a big bust for the nation and as asked his administration to take measures to increase economic activity in the region the plan is applied as employed two thousand workers g.m. operates three other plants in south korea totaling fourteen thousand workers and a decision on if they will stay open is expected by may of this year. fundable corp the world's largest cruise operator says they are investigating the response of its security personnel to a large fight which took place on one of its south pacific cruises that resulted in twenty three passengers being taken off the vessel much of the brawl was captured on video and posted on social media those involved were removed from a cruise a day early in the australian city of eden in new south wales for com

commerce department proposal to impose curbs on steel imports into the united states all of that coming up but first let's get to some headlines. as the olympics continue in south korea south korean president moon j.n. said on monday that the general motors company decision to shutter a plant south of seoul in the city of gun sin would be a big bust for the nation and has asked his administration to take measures to increase economic activity in the region the plan is applied as employed two thousand workers g.m. operates three other plants in south korea totaling fourteen thousand workers and a decision on if they will stay open is expected by may of this year. carnival corporation the world's largest cruise operator says they are investigating the response of its security personnel to a large fight which took place on one of its south pacific cruises that resulted in twenty three passengers be taken off the vessel much of the brawl was captured on video and posted on social media those involved were removed from a cruise a day early in the australian city of eden in new south wales fo

but what these commerce department reports that were released last week actually show is that china and the overproduction is a depressing prices globally and that obviously has an impact on it companies a company's here in the united states. look at how some of the steel and aluminum companies are performing. major steel producers. about 116% since the election. fifty-two weeks. up 34 percent. alcoa they are up 88% since the election in century aluminum up 234% since the election. so what is at stake here. making sure that the companies stay in business is one of the things the commerce department would tell you is at stake but there could be a trade war. i think we do need to be careful here that we don't start a reciprocal battle on tariffs try to figure out how to address the massive oversupply but do it very carefully. the consumers in all of these. and into the other manufacturing. some of what they have actually recommended is they have included this. they want to have a quota of 86.7% in 2017 imports. with the 7.7 tariff or tax on all imported aluminum or they would recommend a

we had that decision from the commerce department ‘s in the states on friday, giving the green lightent to decide if he wants to impose new tariffs on steel and aluminium imports into the states from china and at this catchall and roller —— umbrella, that they believe the way it china subsidises its steel industry is a threat to national security in the united states. china has said that it is groundless, unrealistic and has said if there are new tariffs to come from the president it will take the necessary measures to protect what it says are its right. —— writes. donald trump is proudly a protectionist as the president of the united states, we have action against solar components from china, washing machines from south korea last month and the decision will come from the president as to whether he will impose these tariffs perhaps later this month. the big thing for him is the trade deficit between the two countries, china sends a lot more to the states then the states sends to china but interestingly, the export it sends are worth a lot more to the chinese economy then slice that

it follows the recommendations delivered by commerce department last week to protect broad limits onodities on national security grounds. this has been a trump campaign promise to revise the long -- s teel gaining from this protectionist agenda. showing you the after-hours performance of u.s. steel, higher by 1.7%. i would argue there is skepticism perhaps in that minor rally we are seeing. talking about 24% steel import tariffs. that is my view. lisa: i will say they will retaliate. julia: watch this space. the best relationship china has had for us for many years except for trade. watch this space.from new york, this is bloomberg . ♪ julia: "what'd you miss?" an ireland north of guam with a population of around 48,000, what is critical is a little note that it is a u.s. territory. in this week's bloomberg businessweek, a look at a chinese company who operates one of the most successful gambling operations in history on that tiny island. it dwarfs anything out of vegas. we sat down with matthew campbell for the details. take a listen. it is the capital of a pretty obscure american t

earlier this month the commerce department recommended steep curbs on imports from china and other countriesde a decision on how the restrictions should be implemented. brazil's economy is recovering from a severe crisis but new numbers out today show more than ten million people are still unemployed — twice as many as before the recession. the numbers also show black workers lost more jobs than white workers during the crisis. some entrepreneurs have now created companies to try to address the imbalance. good luck to them. that is the business briefing to this hour. this is what the markets are looking like. the dow jones is what the markets are looking like. the dowjones is a little bit over the course of yesterday. reflected in the hang seng. the interest—rate rises in the us may not be as fast and as regular as feared. news briefing coming in a moment. it started out as a project to help protect some of the world's most endangered wildlife. conservationists at chester zoo have joined a team of rangers in nigeria's national park to help capture footage of species in their natural habitat.

commerce department proposal to impose curbs on steel imports into the united states all of that coming up but first let's get to some headlines. as the olympics continue in south korea korea south.

it is the administration's latest jab on trade, according to the commerce department.de investigations rose 81% in the first 12 months of trump's presidency with tariffs imposed on solar panels, washing machines, lumber, and paper. the fate of nafta, the trade deal among the u.s., canada, and mexico, that's still hanging in the balance. >> that was interesting because a lot of republican senators were very clear right to the president's face, be very careful here, we don't want to start a war on this. >> what's interesting is we saw aluminum and steel company shares spike yesterday after trump talked. everybody saying, listen, caution, caution here. this can really upset the marketplace for consumers, for you and me. >> a big deal. keep an eye on this. >>> everybody talking talking about snowboard superstar shaun white who soared to historic gold medal at the winter olympics. >> coy wire with more from pyeongchang. >> reporter: good morning. at 31 years old, shaun white captured his third olympic gold and redemption after he failed to medal in sochi. more than his age,

the us commerce department is slapping steep tariffs of as much as 106% on chinese imports of aluminiumhat imports of aluminum foil products are being dumped in the us market at below price and that chinese producers are benefiting unfairly from government subsidies. oil prices have continued to fall — as industry numbers show an increase in us crude stockpiles amid surging production in the country. 0il stockpiles in the us have reached 421—million barrels — and rising output in the country is hampering 0pec‘s efforts to end the global glut — in a bid to raise prices. amazon has agreed to buy the video doorbell maker ring in a deal reportedly worth more than 1—billion dollars. it's set to be one of amazon's most expensive takeovers — after its almost 1a—billion dollar deal last yearfor whole foods market. here in the uk, toys r us and the electronics chain maplin are on the brink of collapse — with more than 5,000 jobs at risk. the struggling retailers are understood to have put administrators on stand—by after failing to secure a rescue deal. a pair of smart shoes has been created to

we're working on legislation to give secretary ross, the department of commerce more tools to help our small businesses, and i'd love to have your help. >> you have my help. i think it's a fantastic idea. because you're right, they can't hire the lawyers. it's too small, but, you know, in a double way, it's very, very big. wilbur, are you working on that? >> yes, sir. as you know, we for the first time in many years commerce department did self-initiate, happened it was in a big industry, it was in aluminum. but there are limitations to what a conventional trade case can do. the main limitation, it doesn't prevent people from the transshipment to other countries. a lot of what 232 can do for us is to solve that problem. and 232 doesn't have to mean the same tariff on every single country. doesn't have to mean the same tariff on every single product. it can be applied in a much more surgical way. and we presented the president with a range of alternatives that goes from a big tariff on everything from everywhere to very selective tariffs on a very selected group of countries. there are

commerce department has slapped duties on aluminum foil from china after concluding that the country's receiving unfair subsidies and dumping the products in the american market. on duties will be imposed chinese aluminum foil for selling the products in the u.s. below fair market value. the trump administration se duties for the unfair advantage that chinese producers receive. that is your bloomberg business flash. manus: europe's largest conference is underway in germany. matt miller is over there. good morning to you, matt. i am here with the ceo of invest europe, michael collins. i am going to talk to him about how the -- this year is different from last year. how much has the climate changed? we have had this protectionist rhetoric out of the u.s. we have had brexit negotiations start to get rolling. do you expect 2018 to be a lot different from 2017? is goingi think 2018 to be at least as good as 2017. over the last four years the private equity in europe has been raised. right now these political headwinds that we were worried about last year really do not seem to have had any k

this is a test program being funded by the commerce department to see if they can develop a driver'sense app. it opens like any other app with security features like your finger preupb or a pin. it pulls up your license and all the information specific to what you need it for. buying alcohol, it verifies you are of legal drink age, but doesen show the cashier your address. it also works without wi-fi. you get pulled over. you do not hand over your phone. you open your app. the officer uses a bar code to capture your license. because it is digital, it is constantly updated. if warrants come up or suspensions and your digital driver's license is separate from the other information on your phone. it >> it doesn't require any additional access. it's not looking at your contacts or google maps history. the only piece of information that's shared is, again, your driving credentials that's relevant to that transaction. >> reporter: the app designer received a $2 million federal grant to develop the app and test it in four states and washington, d.c. but privacy advocates say this could have

aid and the commerce secretary said they may tariff on imports of aluminum and steel and the commerce department said that beijing will take the necessary measures. these survivors of florida's school shootings have called for control ands on gun focused anger on trump, calling divisive and trump and theed democrats fbi. >> people say it isn't time to talk about gun control and we respect that. march 24, we will march as students. this is about the adults. we feel neglected and you are either with us or against us. foundresa may may have common ground with the new. this allowed intelligence agencies to keep sharing information and the commissioner told a defense conference that the alliances should be maintained. that we do not want to take revenge for what british people have decided and this security bridge will the it.tained and we still need >> global news in 120 countries. this is bloomberg. >> it is a shortened holiday week and the floodgates will upn for treasury to step bond auctions this week. here with morean and the action. >> we know the higher yields triggered this and we want to be

those officials join more than a dozen states in sending that request to the commerce department yesterdaythey argue the citizenship question could scare immigrants from taking the census, leading to a possible undercount. >>> 5:04. dwaet degre 28 degrees outside. from backup quarterback to super bowl mvp. a sweet story. for the first time since the win of a lifetime, the eagles nick foles is talking about his future. >> i was going to stop playing the game two years ago. >> yeah, nbc10's matt delucia joins us live in center city. matt, nick almost took a very different path before become a philly. tell us more. >> reporter: right, he almost retired from the nfl a couple years ago and i think every eagles fan is breathing a sigh of relief that he didn't actually go through that. nick foles, you can tell, he is just enjoying the moment. especially after that super bowl win. he said he did not sleep for three days after that game because he was so excited. now, this is nick foles' first sitdown interview since the big game. he brought up the lombardi trophy and talked with ellen about that n

commerce department proposal to impose curbs on steel imports into the united states all of that coming up but first let's get to some headlines. as the olympics continue in south korea south korean president moon j.n. said on monday that the general motors company decision to shutter a plant south of seoul in the city of gun sin would be a big bust for the nation and as asked as admit. astray ssion to take measures to increase economic activity in the region the plan is applied as employed two thousand workers g.m. operates three other plants in south korea totaling fourteen thousand workers and a decision on if they will stay open is expected by may of this year. fundable corporations the world's largest cruise operator says they are investigating the response of its security personnel to a large fight which took place on one of its south pacific cruises that resulted in twenty three passengers be taken off the vessel much of the brawl was captured on video and posted on social media those involved were removed from a cruise a day early in the australian city of eden in new south wale

china's commerce department says beijing will take necessary measures to protect its own right. latvia's government says it will reveal on monday when they get the country seven by government. clients wouldis be held at the state police station and had not been charged. he says the reason for the detention was four years ago. last week's photo school shooting has called for nationwide rallies next month as the economic control. this notice is that anger on president trump, calling his response needlessly divisive. trump tweets on the weekends, criticized democrats and the f guyana attack that left her to and three adults dead. news, 20 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. let's have a check on the markets right now in japan. gains across the board in asia. >> what we say the greatest pleasures are that you received? i want your individuals ananias do this. >> i was really busy. i was really into building this company. >> i will take attacks. >> how general powell, this is ronald reagan. i think it was my h

a big boost on the news the commerce department is recommending tariffs on steel and aluminum imports from china, venezuela and other countries. kayla with more. >> president trump has not decided how he will proceed with the recommendations that the commerce department made public today. secretary wilbur ross said they don't all agree how to institute the steep stair riffs or quotes thats they instituted. ross offered three options, blanketed tariffs, targeted tariffs for those flooding america with cheap commodities and on steel that could be 53% or higher, and third is limit the amount of non-u.s. steel and aluminum coming in they have been advocating since the investigation opened in april. the ceo of ohio-based majestic steel. >> best case for domestic steel industry would be to see broad action and -- including tariffs and quotas there's not a one size fits all approach for now i believe we have to stop the bleeding that the domestics have experienced for quite a while now. >> gop lawmakers in many businesses broadly have voiced concern about even specifically targeted actions p

isna's commerce department beijing will take the necessary measures to protect its own rights. noble group says it is confident that rebuilding its business and asia despite flagging a fourth-quarter net loss of up to $1.93 billion. they are restructuring talks with stakeholders have been productive per chair holders have criticized a deal announced last month to restructure $3.5 billion worth of debt. india's ceo bank says it has exposure of about $412 million to a fraud against a bank in a case linked to a billionaire. three people have been arrested over the alleged $2 million scam, including two employees of pnb. they are accused of using fake pnb guarantees to fraudulent lee obtain loans. bankers are said to be at risk of losses. bridgestone's sale as the tokyo opened after it missed estimates per guidance released after the friday close for operating income of $3.5 billion. about 4.5% below the average it was based on a dollar yen exchange rate of 108. global news, 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg.

family homes fell in january by seven point eight percent according to figures released by the commerce department on monday that sharp drop follows a nearly identical drop in december four of the past six months have seen drops in the sales category there was a regional bias to the drop with the northeast and south seeing the largest declines the west and midwest by contrast saw gains leaving some analysts to blame the unexpected decrease on harsh winter weather market watchers will be especially keen to watch whether the northeast continues to trend bearish as a trump tax cuts may discourage home purchases in high cost areas. and comcast the us cable giant that owns n.b.c. telemundo and universal pictures is looking to add another company to that list this week comcast offered to buy sky for more than thirty billion dollars sky which features news and television content is currently own did part by rupert murdoch's news corp the parent company of fox the move pits comcast against murdoch's and fox the move would be huge given that sky's business broadcast several premier league games premier soc

the commerce department will release data for factory orders in december, and those are expected to havearnings, major companies from the energy sector will be reporting results. profits at oil producer exxon mobile are expected to have gone up by 18% in the last quarter of 2017. chevron is also likely to post a strong performance. lawrence gosling is editor in chief of investment week magazine. is good to see you. another big market story, the head of the us federal reserve, officially her last day in office. as i said, equity markets have been running at a pace, the uk economy has been doing very well. donald trump has been taking credit. if you had to share the awards, what would you say? donald trump has been in for only 12 months, but she has headed the federal reserve for a lot longer. what has driven things is quantitative easing. she has been an architect of that and if you go back to the lehmans brothers crisis, it would be fair to say the second half of this bid she has done a good job steadying the markets. arguably the job growth we have seen is down to her policies. donald t

administration, from the commerce department. do you worry that we could see a trade war?> i was hoping it was more rhetoric than actually imposing the tariffs. we have a proposal for specific industries. there are industries that the u.s. will never do well in those industries. now ise u.s. needs to do to find industries where it has a comparative advantage and move ahead. the administration is saying they will impose tariffs. robotics, artificial intelligence, everywhere you go, you hear about the impact it will have on the economy, yet the u.s. saying we will build steel and aluminum to employ workers. i think it is a crazy idea. francine: how much do we know about whether they will indeed impose these tariffs? they are looking at weighing tariffs as much as 53% on steel and 26% on aluminum. >> that is part of the problem with the trump administration. they are not providing guidance. it could come at any time. after these huge tax cuts, which the community welcomed, i think this is going to go down badly in the business community. francine: if this is a crazy idea, wil

other lurches the middle been paid off in a party officials including airport authorities the commerce department of foreign employment received more than two thousand complaints from neighbors during the last fiscal year these include everything from nonpayment of salaries for all its illegal ways actions exorbitant fees and there is a code and sexual abuses by foreign employment agency and middleman and according to government figures seven hundred fifty five the bodies die while working abroad . each worker has to deposit fifty dollars to the governments for an employment before they leave but even employment agencies say that the money has not been spent on those who need it whereas. with this process recruitment agencies have deposited more than fifty million dollars in the bond we can do so much for the workers but the government is not using this bond properly but government officials say it is up to the ministry of labor to decide who gets compensated and. we can use the funds for compensating workers who've gone through legal channels with the recruiting agencies registered with us we ca

since september two thousand and five from two point five percent the prior month according to commerce department figures the drop matters because consumers make up roughly seventy percent of the economy and they can only push savings down so far before it impacts their ability to keep spending which in turn fuels u.s. growth of course there's a lot of civil asset forfeiture here in the united states and cops will shake down all sorts of young people so it makes sense to not have any savings or not have any assets because why would you because this is going to be taken so you might as well spend it consume as much of a tide pods as possible yes several s. a for churn extends beyond just minorities it's just all young people now are having their assets stolen but you know this is what i call the frying pan economy so you just consume your way up until market tops and then when the markets stop at a crash it's like hitting your head with a frying pan so you just ring the bell of your skull in your craniums ring one of them and you wait for the bailout to cap it always does from the central bank and

since september two thousand and five from two point five percent the prior month according to commerce department figures the drop matters because consumers make up roughly seventy percent of the economy and they can only push savings down so far before it impacts their ability to keep spending which in turn fuels u.s. growth of course there's a lot of civil asset forfeiture here in the united states and cops will shake down all sorts of young people so it makes sense and i have any savings or not have any assets because why would you because it's just going to be taken so you might as well spend it consume as much of a tide pods as possible yes civil us of for churn extends beyond just minorities it's just all young people now are having their assets stolen but you know this is what i call the frying pan economy so you just consume your way up until market tops and then when the market stop it crashes it's like hitting your head with a frying pan so you just ring the bell of your skull and your cranium is running out of there and you wait for the bailout to cap and it always does from the centra

the commerce department initiated an investigation on welded pipes from canada, greece, china, india, turkey. a few u.s. steel companies talked about the investigation. president trump may announce widespread tariffs on steel and aluminum. so those stocks ones to watch as well. the trump administration has imposed tariffs on solar panels, washing machines, lumber, paper, steel and many products. some products like paper more targeted at canada if you like and others more widespread. trade and inflation, two big ones. >> trying to level the playing field. so what is next? gary b. smith and bob is here, too. good to see you both. gary, we've been all over the place. smaller moves we should say today. nonetheless, you know, down so much and then ending in the green. is volatility here to stay? >> i think for a little bit, trish. normally after you have those couple 1,000 point swing days, people are trying -- traders especially are trying to figure out is inflation real? we're going to get a report tomorrow. that will have an impact. >> trish: can't wait. >> is it going to affect the mar

ntia always seeks input on the departments work on emerging technologies. commerce is led the government to new andes emerging technologies but the leadership requires continued engagement for american industry and from all of you. in order to ensure american entrepreneurs are able to take risks at the global market for digital products and services we need to make sure we are charting the right path. on such issues as artificial intelligence, blockchain and 5gg we are lookingnd for industry to help us makee the right choices as a government. as i notice i've is good is a key priority for the department of commerce and the administration. as many of you know last may the president issued an executive order strengthening the cybersecurity federal networks and criticale infrastructure. among other items action against botnets -- botnets and other threats. botnet attacks can be extremely damaging at and the put the brr internet at risk as well as its users. commerce and homeland security west i website about actions that could be taken by stakeholders recognizing we ca

since september two thousand and five from two point five percent the prior month according to commerce department figures the drop matters because consumers make up roughly seventy percent of the economy and they can only push savings down so far before it impacts their ability to keep spending which in turn fuels u.s. growth of course there's a lot of civil asset forfeiture here in the united states and cops will shake down all sorts of young people so it makes sense and i have any savings or not have any assets because why would you because this is going to be taken so you might as well spend it consume as much of a type pods as possible yes several s. of for churn extends beyond just minorities it's just all young people now are having their assets stolen but you know this is what i call the frying pan economy so you just consume your way up until market tops and then when the market stop it crashes it's like hitting your head with a frying pan so you just ring the bell of your skull in your cranium is running out of there and you wait for the bailout to cap and it always does from the central

since september two thousand and five from two point five percent the prior month according to commerce department figures the dot matters because consumers make up roughly seventy percent of the economy and they can only push savings down so far before it impacts their ability to keep spending which in turn fuels u.s. growth of course there's a lot of civil asset forfeiture here in the united states and cops will shake down all sorts of young people so it makes sense and not have any savings or not have any assets because why would you because this is going to be taken so you might as well spend it consume as much of a tide pods as possible yes civil us of for churn extends beyond just minorities it's just all young people now are having their assets stolen but you know this is what i call the frying pan economy so you just consume your way up until market tops and then when the markets stop at a crash it's like hitting your head with a frying pan so it does ring the bell of your skull and your cranium is running out of there and you wait for the bailout to cap and it always does from the central

the commerce department recently presented these options to the president.bia said their crude output will ease next year without hurting the market. the oil minister believes they will phase out the cuts as the market rebalances and the inventory shrinks. meanwhile, egypt's oil minister says they have no current plans to join the global deal, but he does expect the nation to eventually become an opec member. >> as a member of this organization, which we are happy to have happened, we will have to see how it moves. will be open. the day will happen, but we cannot say when. russia had its first upgrade in s&p global ratings since 2006 being bumped up from a triple b -280 plus. they're convincing the world's biggest energy exporter to invest after three years. they say it reflects a track record of policy which has allowed the russian economy to adjust to lower commodity prices and international sanctions. global news 24 hours a day. i am christine harvey, this is bloomberg. thank you. asked and he global raisings say their fiscal consolidation measures contin

commerce department. that is benefiting u.s. steel producers and will hurt china the most.it is not as bad as it may seem. in 2017 10 other countries other than china exported more of steel to the u.s.. are waiting for a reaction that china's top steelmaking city may expose further curves at the end of the winter season, which could see moves. it is a few of the things you're watching in tokyo and seoul. let's check in to gauge their reaction. moves ofeing heavyweights edging slightly higher. we are seeing a jump in steel after delivering an earnings beat underlying earnings. we have the interview with the ceo later today. on the markets. back here in the u.s., that we can warning we talked about. goldman sachs economists saying that stocks may punch 25% with yields on a 10 -- it foreign half percent. -- 4.5 percent. that will grab wall street's attention. that is the top story on the bloomberg. economic reports to watch out for. that goldman know, pretty clear. it will definitely grab attention. they're out where forecast is with this 4.5%. 3.25 percentasting at the end of

the commerce department is investigating china and other countries for allegedly dumping cheap steel and aluminum products on our shores. true end to e.u. could soon be seeing tax-free bonus is thanks to that to be unveiled today. lauren: they are more than crimes i guess if that happens. tracey carrasco with more on that with the news this morning. the whole thousand dollars it could be. >> a republican lawmaker to unveil legislation that would make most bonuses given out tax-free and take a nancy pelosi with representative todd rokita from indiana has dubbed its bill that creating relief in useful middle class benefited dating or crimes act. pelosi famously refers to bonuses as crimes in criticizing the tax plan last month. it would make bonuses received by the worker is tax-free up to $2500. cheryl: is there support for this? >> i'm not sure, but with a name like that who knows. cheryl: i kind of like it. lauren: chipotle has major problems for their bottom line this year so they're making changes at the top. >> chipotle has named taco bell chief executive brian nichols has its ne

china's commerce department says beijing will take necessary man -- measures to protect its own rightsnationwide rallies to the demand lawmakers act on gun controls pimm students who up -- controls. students calling president trump's needlessly divisive. the president criticized democrats and the fbi over the attack that left 14 students at three does that. >> people are saying that it is not time to talk about gun control. we can respect that. here's the time. march 24 in every civil city. we will be marred -- in every single city. we will be marching as students march if our lives. this is not about the gop. this is not about the democrats. we feel neglected. at this point, you are with us or against us. christine: an iranian plane has crashed, with all six the five people were killed. it came down in a foggy mountainous region of southern iran. kilometers of the capital of iran where the plane had taken off. the head of slot via's central bank has been detained by the anticorruption bureau. followed a surge by authorities of his office and private property. now calls for him to step

doing it in the name of national security, some recommendations that the president got from the commerce department he has until april to make these decisions on aluminum and steel. shares went up after the president's comments yesterday >> we'll be watching that closely. thank you very much, tracie potts. >>> still ahead on "worldwide exchange," a round up of the global market picture and all of today's top stories including the battle of the burritos chipotle taking a bite out of taco bell's business what the big ceo news could mean for both stocks. you're wchating "worldwide exchange" on cnbc. et, but through good times and bad at t. rowe price we've helped our investors stay confident for over 80 years. call us or your advisor. t. rowe price. invest with confidence. >>> pushing higher dow futures up triple digits as wall street awaits a key piece of inflation data. >>> chip chotle tapping taco bel for its next ceo. >>> and a golden moment for america. the golden moment team usa just reached in pyeongchang it's wednesday, february 14, 2018, you're watching "worldwide exchange" on cnbc. >>> good

the commerce department is recommending the u.s. imposed tariffs or quotas on imports of aluminum and steel. wilbur ross says the current metal imports threatens national security. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. ♪ emily: i'm emily chang, and this is "bloomberg technology." coming up, robert mueller unveils the details of a widespread and coordinated campaign by russians to influence the u.s. presidential election using social media to spread their message. snap's earlynside days to show the company's journeys from one of silicon valley's hottest startups to one of the prominent ipos of the year. latest from the and technology are gathering in los angeles. we will bring you the highlights including our conversations with ted leonsis. first to our lead. u.s. special counsel robert mueller has charged 13 russian nationals and three corporations with interfering in the 2016 presidential election by using social media. fake rallies and secretive