any word from the treasury secretary, steve mnuchin tonight? >> not yet. it's something we're expecting any moment. the treasury department laying out in a letter to richard neal, a democrat, that they would respond in full whether or not they would be willing to turn olympic the president's tax returns, plus tax returns for eight of his business entities by today. but not to play spoiler here, wolf, the reality is there's no expectation the answer will be "yes." as you can see from the treasury department's letters to the two deadlines they've already missed, they have significant concerns, significant problems, they say on constitutional grounds with this request, and what this means, not unlike what we've seen with the mueller report and what we've seen on several requests to the house oversight committee, this is at some point going to wind up in court pem court. everything house democrats are doing on the investigative front, they're not getting compliance on the subpoenas, and that means contempt votes may be coming, more votes may be coming, but eve

treasury secretary steve mnuchin defying a house subpoena calling for president trump's tax returns to be delivered to congress. we're live at the white house next on that. coming up we'll talk to steve forbes, forbes media chairman. susan: smoking the 2020 competition. former vice president joe biden leading the crowded democratic field by double digits but can he keep up the momentum on the campaign trail? our political panel is coming up. ashley: the real cost for care. details on the white house push to make the price of your medical treatments more transparent. ♪ all money managers might seem the same, but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money managemen

steve mnuchin refusing to release them.

deadly, secretary steve mnuchin sent this one-page response to the chairman. quote, the department of the treasury has consulted with the department of justice concerning the lawfulness of the committee's unprecedented request. we have determined the committee's request lacks a legitimate legislative purpose and pursuant to section 61-03, the department is, therefore, not authorized to disclose the requested returns. the department of justice has informed us that it intends to memorialize its advice in a published legal opinion as soon as practical. so the request went up under federal statute from congress to the treasury department. treasury brought it to the justice department and the answer came back to congress. no, no we are not giving you what you say the law requires us to give you. you will not be surprised to hear that chairman neil is sticking with this. he noted to want in a statement, quote, the law provides clear statutory authority for the chair of the ways and means committees to request and receive access to tax returns and return information.

treasury secretary steve mnuchin refusing to release them.ays and means committee his next move could include issuing a subpoena. meanwhile, they've set a vote wednesday on whether to hold william barr in contempt. of congress for ignoring a subpoena it turn over the unredacted mueller report. justice department officials are waiting tomorrow to see if they can reach deal. and the white house trying to back track from the president's weekend tweet that robert mueller should not testify before congress. an official telling cnn the president was just expressing his opinion because the investigation is over and it is time to move on. lots to discuss. john dean. gentleman, good evening. so good to see all of you. president has been all over the place when it comes to mueller testifying. is he worried his claim of can exoneration is going to go up in flames? >> i think he knows his claim of exoneration is going to go up in flames if mueller or when mueller testifies. that's exactly what's going to happen. this effort to put out a boguses story and

i think what steve mnuchin did is completely unsurprising. mnuchin is a loyalist to the president, i think that his body language for months had indicated that this is what he was going to do, ever since democrats took over the house and made clear they were going to go for the president's taxes. what's interesting to me about what mnuchin said in explaining why he is not doing it is he's healing to the same line thoot trump organization did when it filed a suit to try to quash subpoenas against two companies related to the president's financial records, which is these serve no legislative purpose. so what you are seeing the broader trump orbit try to do is relegate congress' only role to legislation. that is obviously not congress' only role, oversight is part of their role, too. it's going to be up to a court to decide at this point whether trying to get the taxes is part of the oversight or not. >> and winning may not be the ultimate goal here. >> right. >> the delay might be enough. >> that's right. >> the delay could easily work in the ad

it appears to contradict treasury secretary steve mnuchin's reasons for not releasing president trump's will that contradiction force mnuchin to change his tune? >>> plus, housing secretary ben carson confused a common real estate term with an oreo cook. >> i would also like you to get back to me, if you don't mind, to explain the disparity in reo rates. do you know what an reo is? >> we'll speak with that very alarm who pushed carson to explain himself. california democratic congresswoman katie porter joins us next. democratic congresswoman katie porter joins us next. ♪ there goes our first big order. ♪ 44, 45, 46... how many of these did they order? ooh, that's hot. ♪ you know, we could sell these. nah. ♪ we don't bake. ♪ opportunity. what we deliver by delivering. what you need and so much more. at wayfair, you'll find just you get to spend less time searching and more time loving every room, even the ones you never thought could look good. you get great deals on the things you need and actually want. you get fast and free shipping on thousands of items and finds for every home, and

does steve mnuchin have to respond to this in some way? let's bring in one of the reporters behind posting this document. policy reporter for the "washington post," jeff stein. let's talk through this a little bit. this memo was written, you report, in the fall at irs by a lawyer, but never made it to treasury department. is it fair to say treasury secretary steve mnuchin was not aware of the memo and didn't know about this policy? >> that is what the treasury department told us in a statement, that mnuchin never reviewed the memo. we'll try to get to the bottom of that. mnuchin is testifying on the hill today, and i am very confident that lawmakers will try to press him and ask that very question that you just posed, which is a good one. >> so is this, jeff, binding in any way? is this an opinion written by a lawyer, or is this an irs policy that will have implications for, say, treasury secretary mnuchin responding to a subpoena from a congressional committee to get these tax returns out? >> no. mnuchin is not bound by this decision or t

we're learning from the treasury secretary steve mnuchin flashing on the wires that saying trade negotiators are done for the day. they are done for the day in the china talks. for the china delegation which left the u.s. trade representative's office a few minutes ago. does not appear to be coming back. heading back home to china with no deal done. although we are told some constructive developments. hard to say. this much is not the disappointment over this is palpable. the dow going into the day down 700 points on the week was adding to that to the tune of another 288 points. call it roughly an even thousand on all of this. we have this covered from all angles including edward lawrence with the very latest what fell apart what happens now. the white house reaction where the u.s. trade team will be meeting with the president shortly with blake burman. of course the market reaction to uber and all of this, as i said, down pretty much across the board. i was just talking to our charlie brady, our top stocks editor genius, reminding me of 11 sectors, only one is up. not surprisingly a safe ha

we are learning that the treasury secretary steve mnuchin's refusal to turn over the president's tax returns goes against irs regulation, previously unknown irs legal memo, draft document obtained by "the washington post" says the disclosure of returns is mandatory unless the president asserts executive privilege which he hasn't done. we don't know who wrote it but the agency said it was prepared last fall and we've heard from one legal expert after another that the law is clear, congress is entitled to the president's returns. so this looks like another example of this administration running roughshod over the law in an effort to hide, well, we don't really know what and then there are the latest subpoenas tonight from the house judiciary committee for two former house -- white house officials. there's hope hicks, the trump whisperer who started working for the president or trump in the early days of his campaign and became one of the closest, most trusted white house aides. one who admitted to congress that she told white lies for her boss. so, yeah, the committee is going to have

the latest blow coming, like you said, from treasury secretary steve mnuchin. the trump administration raising a new roadblock in house democrats' efforts to investigate the president. treasury secretary mnuchin refusing to hand over president trump's personal and business tax returns to the house ways and means committee. in a letter to the chairman, mnuchin saying he determined that the committee's request lacks a legitimate legislative purpose. the chairman saying the committee will consult with counsel and determine their response. the tax return battle could make its way to the supreme court, as the trump administration's contempt for congress becomes more apparent. house judiciary chair jerry nadler considering contempt of congress for attorney general william barr, scheduling a vote for tomorrow after barr declined to provide the full, unredacted mueller report by monday. justice department officials will try to diffuse the situation in a meeting with committee staff today. nadler says the plans to consider holding attorney general barr accountable for hi

. >>> treasury secretary steve mnuchin in the hot seat on the hill defending his decision to keep theu s returns -- private as new york state lawmakers that passed a law that would allow the congress to get a state portion of the trump's returns and details on what they could see and how that would even work. last year, the department of veteran's affairs partnered with t-mobile for business. with va video connect, powered by t-mobile, vets can speak to their doctors from virtually anywhere, and get the care they deserve, without it counting against their data, so they can return to their most important post. soulmate, best friend, or just dad. the va provides the care, t-mobile provides the coverage. - anncr: as you grow older, -your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time.

back in april, the treasury secretary, steve mnuchin, wentc tried to cut the hearing short.> if you wish to keep me here, so i don't have my important meeting and continue to grill me, we can do that. i will cancel my meeting and i will not be back here. i will be very clear. if that's the way you would like to have this relationship. >> thank you. the gentleman, the gentleman, the secretary, has agreed to stay. please cancel your meeting and respect our time. who is next on the list? >> you're instructing me to stay here and -- >> no. you just made me an offer. >> i didn't make you a offer. >> you made me an offer that i accepted. >> i did not make you an office. you're ordering me to stay here. >> i'm not ordering you. i'm responding. i said you may leave anytime you want. and you said, okay, if thaegt's what you want to do, i'll cancel my appointment and stay here. i'm responding to your request. >> that's not what i want to do. >> what would you like to do? >> i thought it was respectful that you would let me leave at 5:15. >> you are free to leave anytime you want. you

reporter: dagen, treasury secretary steve mnuchin telling the house financial services committee today that it is unlawful for him to hand over the president's tax returns saying that he would only do it if the courts tell him to. mnuchin saying under oath that he has had no discussions with the president or anyone in the white house about handing over these tax documents. mnuchin telling the committee, he hasn't even looked at the returns himself. >> do you know what he is hiding? he doesn't want anybody to see them -- >> i don't think he is hiding anything. >> okay. so you don't know? >> i don't know anything about his tax returns. >> why haven't you complied with, with chairman neal request? >> i think that would be unlawful. reporter: there was a lot of discussion about the draft irs memo has been reported earlier today, written by a member of the irs, basically says the agency has to hand over these document unless the president exerts executive privilege but mnuchin saying today he has no idea who wrote that memo. he has never seen that memo until today. he says it directly contr

it is something very important to steve mnuchin, the treasury secretary. mitch mcconnell, the senate majority leader thought they might have a deal by end of yesterday. they didn't quite get there. one wonders whether they get there, connell. connell: one does. what a mess. melissa. melissa: here is to react strips coglianese, dale at this caller executive editor. this is such a mess. this is business show. let me ask you money questions about this. nancy pelosi said moments before she knew she was going over to talk about infrastructure, she said the president is involved in a cuffup right now, still perpetrating. she knew that would blow up the infrastructure meeting. why do you think the democrats would want to do that? that is spending. that is building. seems like it is one of their good issues. good for the economy, what do you think? >> nancy pelosi is try aging her problems. top among them are holding the caucus together. democrats are furious at donald trump. they want to impeach him from office. some percentage of our caucus does. she thought tod

at some point steve mnuchin said he would comply with a court order.rder forced him to turn those over. so i think it may take that. i don't know how many times we are from that, but at some point you're going to see actions from the court that forces this material out into public view. that's going to be an interesting day for the president given how he reacts to small things, to things like cover up, when this information he's tried to protect for so long emerges, buckle up for that one. >> isn't it interesting we're hanging our hat on the fact that the secretary of the treasury said he will comply with a court order. that's what passes for good news? >> the other thing i'm thinking is we're now sort of hanging all of our hopes on transparency. we've given up basically on the executive branch doing anything in sort of the vain of good government or responsiveness to congress. i turned over my email because i worked in the white house, for better or worse, that recognized congress' authority to have an oversight role. we're now hinging everything on t

steve mnuchin told the house ways and means committee chairman that he was refusing the committee's request because it lacks a legitimate legislative purpose. the treasury department and the irs got slapped with a lawsuit from the new york attorney general for allegedly failing to respond to information requests, the same democratic attorney general who promised to use every area of the law to investigate donald trump and his family. shannon: thank you very much. house committee is voting this week to hold the attorney general in contempt as anticipation over a public testimony from the special counsel is growing by the minute. let's bring in senior advisor to donald trump's 2020 campaign, great to have you here tonight. i want to play something where all these things are playing out on the hill, senator john kennedy says it is time to get serious. >> i think that both sides in this doubling down on stupid. i think both sides need to sit down and negotiate what the administration can provide and what the house actually needs. this is a dangerous game that is being played. shannon: the presi

he is the father of steve mnuchin.ld by the estate of tht late, gre conde nast chief newhouse who paid $1 million for it in 1992. it was buffalo 2 which went for $88 million. >> the auction s houses the week proves the market sho no signs of >> we actually feel the market has a good strength and not a cyclicalop. assets will go up and down. >> despite all of the hype over rabbit, the biwemoment of the was this. >> 55 million. > claude monet's 130-year-o painting of a hay stack at nset went for $110 million. it is one of only eight left in private hans and it went for twice t estimate. for "nightly business repo, i'm robert frank. >> before we go, here's a look at the final das numbers on wall street. the dow rose 214ts po strong session today and the 500aq was up 75 and the s rose 25. that does it for "nightly business htreport" ton i'm sue herera. thanks for joining us. griffith.l if you're wondering about the ndage. i had a tko in the seventh round. >> you'll be fine. >> have a good night. see you tomorrow. ♪ ♪ >> th

in steve mnuchin's case, the law is clear. he is simply saying he is not going to obey it and try to make me. yes. they hold them in contempt. who enforces a criminal contempt citation? bob barr's justice department. right? that's not going to happen. sometimes they'll go to court. the supreme court, where donald trump has been able to put people on the supreme court. not just sort of the far side so all the guardrails that are supposed to keep it in. that they could not run rough shod over the system of government are failing. to push back against power grab i think she was 100% right. i understand how they wanted to avoid impeachment. they see the polls that it is unpopular. ultimately, there's only one legal process to deal with an administration like this. and even if it doesn't ultimately lead to his removal, it is the system by which you compel all of this information to become public. >> she mentioned steve mnuchin, the treasury secretary. you have no right to these returns the. donald trump's tax returns specifically,

>> after that memo, a lot of questions about whether steve mnuchin has talked to the white house or theing the president's tax returns. i asked him moments ago. here is what he told me. >> plans to eliminate. >> we're not doing something. that's something the president is interested in. that would require legislation. we'll see maybe during a technical corrections bill if we ever get something through congress. >> do you worry at all about congress holding you in contempt? >> reporter: obviously, there that was a question about carried interest but he told me he has not talked to anyone at the white house or the president himself. he said i could not be any clearer about that fact. i've not consulted with anyone. he said he had never seen this memo until it was published in "the washington post." he's trying to get to the bottom of it. jim and poppy? >> lauren fox, thank you very much. important exchange there. >> absolutely. >> all right. in minutes, house speaker nancy pelosi will meet with the president about infrastructure after she accused him of engaging in a cover-up, her words.

one told me today, they felt burned because steve mnuchin and kudlow had been saying a couple weeks, we're close to a deal. we'll have one very soon. that didn't happen. so you have seen this turmoil in the markets as traders and investors try to decide how to take advantage of what is going on. now, we talk about what's going on in the stock market here where we've seen a lot of volatility. what about consumers. what does this mean for them? you can expect a family of four if these tariffs hold, especially the china tariffs, they'll be paying about $2,000 more over the course of the year. a family of four and higher prices for cell phones, clothes, laptops, mattresses. has big ramifications for our economy and consumers. >> shepard: thanks, gerri willis. cruise ship passengers were taking a sightseeing trip aboard a couple of sight-seeing planes when they collided in the skies over alaska. now tourists are reported dead and others hurt. questions about how this happened. that and the rest of the news as reporting continuing on this tuesday afternoon. severe psoria little things can

. >> in a moment, we will show you steve mnuchin's testimony on international financial system. first, here is a quick look at one of the exchanges during the hearing dealing with the presidents tax returns -- president's tax returns. know, the secretary shall furnish the ways and means committee with any information specified in request. you are aware of that, right? that nowhereaware in that section is the chairman required to provide a reason for the request. you are aware of that? >> i have read the language. letter, you rely on advice from the doj determining that the request lacks a legitimate legislative purpose. >> that is correct. >> you understand that we are the legislative branch and we make decisions about legislating. >> i understand there are three branches of government. >> and you are the executive branch, right? you don't make the laws. we make the laws. we learned last night of a second opinion written by the irs chief counsel's office. are you aware of that letter? when we got anre inquiry from the washington post. i'm not sure who the author of that was. pos

what has staff met laudani and steve mnuchin attending even.e door of this meeting. she's going to keep us up-to-date with any headlines and we will break the show to bring them to you. this is "bulls and bears" and i'm christina filling in

the news coming as treasury secretary steve mnuchin steve mnuchin telling lawmakers that trade talksith china will continue in beijing. he had wardlaw recognize on capitol hill. reporter: he says he is hopeful. hoping that the next round will be in beijing. there are to plans to go there at the moment but he says that will happen eventually he believes. the big trade push has moved up to capitol hill here. in fact the usmca is a huge push this hour for the administration. u.s. trade representative robert lighthizer here on capitol hill meeting with the house ways and means chairman and meeting with house speaker nancy pelosi. pelosi could be a roadblock in terms of bringing usmca up for a ratification vote. lighthizer says if the agreement doesn't pass it would be a disaster for the economy. as long as u.s. steel tariffs are on mexico and canada getting votes might be an issue on both sides of the aisle. u.s. trade representative met with the canadian foreign minister to work on this issue. the canadians say they will not ratify the usmca is canada unless the steel and aluminum tarif

treasury secretary steve mnuchin refusing to hand over president trump's tax returns to congress. will democrats hold mnuchin in contempt? >>> plus the fight for 2020. it's a county president trump barely flipped, but he won it. he needs to hold onto it. can he? >> where are places like saginaw going to be in 2020? >> from our perspective this is ground zero. >>> and before heading off to prison michael cohen takes a parting shot at the man he once said he would take a bullet for. >> there still remains much to be told, and i look forward to the day that i can share the truth. when you get a wireless plan, wouldn't it be great to get a phone too? switch to sprint and get an unlimited plan with the samsung galaxy s10e included for just $35 a month. it's a big deal. [ chuckles ] so, what are some key takeaways from this commercial? did any of you hear the "bundle your home and auto" part? -i like that, just not when it comes out of her mouth. -yeah, as a mother, i wouldn't want my kids to see that. -good mom. -to see -- wait. i'm sorry. what? -don't kids see enough violence as it is

steve mnuchin saying he isn't breaking the law.breaking the law, steve mnuchin. >> people at home want things done. >> you'll get it on the other side. more outnumbered in just a moment. flonase relieves your worst symptoms including nasal congestion, which most pills don't. flonase helps block 6 key inflammatory substances. most pills only block one. flonase. give our veterans is eligibility cfor a va loan for up to 100% of your home's value. thank you, admiral. so if you need money for your family, call newday usa. need cash? at newday, veteran homeowners can get $54,000 dollars or more to consolidate high rate credit card debt and lower their payments by $600 every month. there is wisdom in how nature protects and it inspired an all-new toothpaste from burt's bees®. it fights cavities and freshens breath. made with ingredients you can trust. for a smile that's a true force of nature. new burt's bees® toothpaste. what do all these people have in common, limu? [ guttural grunt ] exactly. nothing! they're completely different peopl

steve mnuchin, treasury secretary.r chinese vice premier liu he. something come on wires of u.s. and bored protection, effective u.s. bound car goes leaving china by midnight tonight eastern time get out at the 10% tariff right, not higher 25% rate of. interesting they just put that announcement out. you have a matter of hours to get your boat in the water. melissa: you were showing off with the pronounciation. fox is reporting first quarter results as a stand-alone company. let's go to jackie deangelis all the details. reporter: melissa investors liked what they heard today. fox shares with trading up, almost 3% at the end of the session for particularly volatile day for stocks. this is coming after strong earnings report, first you mentioned since the 21st century acquisition from disney. this was particularly crucial. earnings per share was a nine cent beat. investors like that. they liked the fact that revenue was strong. at the event key executives came out. they had the opportunity to lay out their vision and wha

so i don't see how steve mnuchin gets out of this. if he doesn't provide it then i think we're going to go to court and we will prevail in the court case. >> is that where you understand the ultimate arbiter of this power struggle? right now you've got a whole bunch of stuff happening. whether the mueller report will be provided unredacted. whether a subpoena will be issued to barr. if he will appear if so. on the tax returns, do you trust that the courts will ultimately be the ones to ultimately resolve these disputes? >> i do trust the courts because they actually have to rely on facts. so if you look at the statute in the tax case, it is very clear the house ways and means chair gets to get the tax returns of the president. if you look at congressional subpoenas, courts throughout our history have upheld the power of congressional subpoenas. in watergate they upheld the power of congressional subpoenas. i believe they will do so again. let's say the courts don't do that. congress itself has inherent contempt power that the supreme

treasury secretary steve mnuchin claiming the demand is not legitimate in a letter sent to the house ways and means chairman a little while ago in as president trump falsely claimiclaim i ing he was not warned about problems involving michael flynn. mr. trump lashing out on twitter after the bomb shell revelation that flynn told robert mueller that people connected to the trump administration or congress contacted him in a potential effort to obstruct justice. flynn back up his claim by giving mueller a voice mail recording as evidence. i'll get reaction from democratic congressman. let's go to our chief white house correspondent. michael flynn is creating new headaches for the president tonight. >> reporter: he certainly is. president trump is trying to rewrite history about michael flynn's cooperation with the special counsel. the president claims earlier today that nobody warned him about michael flynn but that's not true. both the president and william barr, the attorney general, are both warning that they are moving forward with their plans to investigate the investigators. >> m

we await the letter or response from treasury secretary steve mnuchin. trump says he will not release tax returns while he is unaudit. as a matter of routine dating back to water beat, at least the watergate era the vice president and president are routinely audited by the irs. we'll await the final response. ashley: 43 minutes and counting. blake, thank you very much. melissa: michael cohen, president trump's former attorney is beginning a three-year prison sentence after pleading guilty to charges of lying to congress among other things. cohen speaking to the press as he departed his new york city apartment saying quote, there still remains much to be told. i look forward to the day that i can share the truth. i don't know, i feel like he has been gabbing, we'll see what he has to say or not. responsible for the economy. 2020 democrat cory booker calling out president trump for craking credit for the economic boom he says started unformer president obama. trump's economic advisor is firing back. >>> controversy at the kentucky derby. the original winne

. >>> coming up, steve mnuchin in the hot seat once again, getting grilled about a newly uncovered irs memo that undercuts his argument almost directly for keeping the president's tax returns secret. we'll hear what he has to say about that. >>> plus housing official, hud secretary ben carson confuses a common real estate term that housing experts know about with oreo cookies. i'm not telling a joke. this is also not the first time you've seen trump appointees, cabinet secretaries appearing before congress and appearing quite unprepared. we'll take a look. that's ahead. etsy is the place to find new favorites. the belongings we hold on to. etsy knows that moments, big and small, deserve things that really matter. sold by real people and filled with things that last beyond the latest trends. belongings don't just show what we care about. they show who we are. shop etsy.com i was told to begin my aspirin regimen, blem. and i just didn't listen. until i almost lost my life. my doctors again ordered me to take aspirin, and i do. be sure to talk to your doctor before you begin an aspirin re

also on capitol hill today, treasury secretary steve mnuchin is set to face tough questions at a house hearing. that will happen this morning. those questions, of course, about why the irs refuses to hand over president trump's tax returns to congress. this as "the washington post" has uncovered a confidential irs memo that states tax returns must be given to the tax writing chair in the house unless the president invokes executive privilege. let's begin with cnn's lauren fox live on capitol hill. >> reporter: good morning. yeah, in just a couple hours, house democrats are set to meet with their leadership to discuss the next steps in their investigations. that comes as there's a lot of heat on nancy pelosi to begin the impeachment proceedings. >> the impeachment process is going to be inevitable. it's just a question of when, not if. >> reporter: more than two dozen house democrats are now calling for the house speaker to begin impeachment proceedings. >> you know, i think the case gets stronger the more they stonewall the congress. >> reporter: but nancy pelosi is still not convinced

they were in the west wing, steve mnuchin as well as robert li lighthizer. we saw him leaving 30 minutes ago. he was debriefing in the west wing for about 90 minutes. we don't know if he was talking with the president, we also don't know the chinese interlocker, how he -- the secretary of the treasury steve mnuchin said they were constructive, in diplomatic speak with k mecan -- can mean about anything. >> our friends at cnbc are talking about the top places affected by tariffs all but two, washington and oregon, voted for mr. trump in the last election. and the white house advisers say that ckoconfronting china plays well in the rust belt states that lifted mr. trump to victory in 2016 and that he is counting on again in the 2020 election. they say any hit to the economy caused by the tariffs will be short-lived and unlikely to disrupt the growth of states including pennsylvania, speci c michigan, and more have enjoy friday recent years. what's the word from inside the white house? do they see this as a political winner? based on my conversations, they know

also today, we're keeping a watch on treasury secretary steve mnuchin. he's sure to be grilled this morning at a house hearing on why the irs refuses to hand over president trump's tax returns to congress. talk about timing here. "the washington post" uncovering a confidential irs memo that says tax returns must be given to congress unless the president exerts executive privilege. >> joining us now, elie honig, former prosecutor and cnn legal analyst. there are some two dozen house democrats calling for impeachment. we can throw this on the screen. this includes committee chairs, including maxine waters and john yarmuth, who will join us later. the question is, has it reached critical mass yet? and how does nancy pelosi handle that? >> i'd agree with rachel. i think we have seen more internal discussions by democrats that say they're moving in a direction of being more vocal. i think a key thing is where those districts come from. you've seen some of the swing state -- swing district democrats, especially the ones who helped make that house majority in t

. >>> and right now on the hill, treasury secretary steve mnuchin testifying. this after a confidential irs memo obtained by "the washington post" says the agency must turn over tax returns to congress unless executive privilege is invoked. >>> and also happening right now, democrats are meeting behind closed doors to discuss, you guessed it, whether or not the party should move forward with impeachment proceedings. >>> we have to start this morning with the meeting going on now on capitol hill. nbc's kelly o'donnell is live on the hill. kelly, take me inside the mind of nancy pelosi. house speaker is huddling with congressional democrats. we know impeachment is the hot topic. what do you think is going on inside? >> it's a careful balancing act, steph, because the house speaker is trying to be responsive and listen to her members who have been talking about impeachment really since they took the oath of office but we have seen a shift in recent days, especially after don mcgahn, former white house counsel, was not appearing on capitol hill despite a subpoena a

steve mnuchin was in beijing saying talks were in their final laps and president trump's announcementan comes days before they arrive in washington to move everything forward. this could be an effort to gain some leverage. remember chinese tariffs were supposed to increase to 25% january 1st. but the president anounnounced 90-day trice when china aegreed to negotiate on trade. the president now says he'll increase levies on $200 billion worth of goods. and threatened tariffs on untaxed goods. we're waiting to see how it will respond to this latest news. previously china used untertiffs to show their displeasure with this ongoing trade dispute. >>> in florida officials face a monumental task, getting a boeing 737 that skidded off the runway out of a river. the black box has been recovered. but investigators still don't have the voice recorder. >> reporter: new video shows some of the 143 on the miami air charter flight huddle on the 737's wing moments after the plane left the runway at naval station jacksonville, coming to rest in the st. john's river friday night. >> total mayhem. i h

and steve mnuchin on capitol hill talking about the president's tax returns. can see that and we're showing you a little bit on c-span3. if you want to follow at c-span.org too. katherine in new hampshire, independent line. hi. caller: hi and good morning. i have a comment and i don't know how it could be done, but i as thinking we could spray a marijuana, prozac or peace happy site dly chemical mist over in iran and north korea where they're working to produce nuclear weapons and the mist would cause the workers at these sites in iran and north korea to chill out, become less interested in making nuclear missiles. and the world needs to relax and take deep breaths and be into good days instead of destruction and death and that's what they should be talking about. host: from lawrence in illinois, republican line. hi. caller: hi, pedro. you know, i guess i'm going to be off topic, but the girl that took my call was gracious enough to let me speak anyway. i was listening to the earlier conversations on socialism. and i called before. it would be nice if you had

at adp we're designing a better way to work, so you can achieve what you're working for. >>> steve mnuchinrriet tubman to the $20 bill. when an artist heard these, he made these stamps. since mnuchin broke the news about the bill this week. now, he's totally out of stock and he's toying away trying to make more but still agree it will take time. joining us now the designer of 3-d printed, danny wall. thank you for being here. >> is it legal to put a stamp on money? >> yes, there is a couple of things you can do to american currency, you can mark it in a way as to destroy it or make it fit for circulation. you can't stamp any advertisements. as long as you are not changing the denomination or marking over the texts on the bill in any way, it is not against it. >> why did you decide to make these? in 2016 they announced the $20 bill would include harriet tubman i was really excited, in general i think we have lived in a racist society and currency is ambiguity to have the power to spread ideas about who we are as a nation and what represents so i felt it is symbolic and important change to i

. >>> treasury secretary steve mnuchin let secretary does congress know that is unlikely to release tax returns as democrats subpoenaed the irs for six years of the president's personal and business returns. secretary mnuchin one in front of a secretary subcommittee to answer questions about that and other issues before the

the us treasury secretary steve mnuchin and the trade secretary robert lighthizer flew out of beijinger what were described as productive talks. earlier i spoke with a correspondent in beijing who is an economic advisor to the chinese government, andi advisor to the chinese government, and i asked him how the talks had been progressing. is very uncertain, there were only 2a hours of time actually spent in beijing, but there we re actually spent in beijing, but there were a number of sticking points. the question really is not whether there is going to be a deal at this point, but when they pull the court on this. a lot of people believe that donald trump will be looking at this as a political card, as he battles on towards his re—election campaign. there are reports that president trump is making concessions, particularly on cyber theft, and the chinese are also making concessions in terms of opening the banking system. can you confirm this? well, these are discussions that have been held. the issue is, as always, when you make a deal, there is always somebody unhappy. there has to be

. >> reporter: china is on the clock, sources telling us steve mnuchin told the vice premier china has three or four weeks before everything else china imports, 25% tariff, $325 billion of items according to the president. this is in addition to the tariff increase of 25% on $200 billion worth of imports. everything from strawberries to plywood, could be more if that tariff is passed on to the consumer. the vice premier told us the talks went fairly well and talks will continue in the future although there is no schedule on when that could come. the administration is hopeful an idea make him. the chinese showed up for the talks. >> we believe a deal as possible. what donald trump made clear as we are in a strong position either way. >> reporter: the president saying and tweets the us would buy more than china ever did. aid to other countries, the vice premier told the us delegation there's nothing he can do at the moment. now it is up to the two world leaders. it seems the ball is in the chinese court. shannon: edward lawrence, thank you very much. donald trump says 2020 joe biden remi

up next, steve mnuchin says the latest talks with china were productive. this is bloomberg. ♪ taylor: u.s. stocks fell and the dollar rose on fed chief pals analysis of the economy. was there big movers? >> what we saw is the markets seem to be going toward those records, then dropped off after the fed comments. let's go into this market snapshot real quickly. we saw oil take a big deep as the inventories that usually come out in the wednesday that that were more various than expected. gold went on a wild ride. trying to interpret what the language of the fed meant. it's go into some of the big movers. which was a lot of the follow-through on the earnings data. amd went slower but had a pop at some point. twilio, that is a software maker. a lot of analysts were concerned about valuation at this point. let's go into the bloomberg real quick. of these stories have been positive for the most part. you will notice that the latest chart watchers indicate that tech continues to power higher even though there are some individual concerns that are stock specific a

live pictures from capitol hill, where steve mnuchin is testifying before the house financial services committee. among the things he said, he said he spoke with walmart's chief financial officer, who told him he was concerned because tariffs lead to increased prices. mnuchin told the committee he is monitoring the impact on tariffs -- up tariffs on consumer prices. he also suggests congress should raise the u.s. debt ceiling as soon as possible. he sees late-summer default risk without that happening. on other matters, he says it is unlawful to give democrats trump's tax returns. bloomberg subscribers can continue watching the treasury on the terminal at live go. this is bloomberg. ♪ >> you have to go backwards before you get forward -- go forward. the two presidents -- two presidents will see each other most likely in june. the idea is not to have tariffs. ♪ vonnie: live, from new york. i'm vonnie quinn. scarlet: and from london, i'm guy johnson. this is bloomberg markets. abigail: we are looking at a modest risk offer global equities on the day. look at the s&p 500, down fractionall

post" which has acquired a previously undisclosed confidential irs memo that directly contradicts steve mnuchin on the issue of the president's taxes. last fall as the democrats were making noise about seeking copies of the president's tax returns, irs attorneys and preparation prepared a 10-page memo that states the committee is manned story and the law does not allow the secretary to exercise dispregz. it would not be affected by the failure of a tax writing committee to state a reason which was exactly the pretext he used when he defied a congressional subpoena. the only basis for the agency's refusal to comply would be the indication of the doctrine of executive privilege. i want to bring in the senate majority leader maya wylie. former assistant deputy attorney and analyst. it seems like a plain reading of the law and it's not surprising that the attorney would fund that way and direct contradiction of the government right now. >> yeah. oh, what a web we weave. congress under the constitution has very broad power to get information and one of the jobs is legislating again. it's not for the

now we want to get to washington, d.c., where treasury secretary steve mnuchin is sitting before theappropriations subcommittee. bloomberg's chief washington correspondent kevin cirilli is on the hill now. let's get to you for a moment. one to ask you what we might hear from the treasury secretary today. kevin: headlines already coming out at the senate subcommittee hearing. the first, secretary mnuchin say and he is going to be meeting in beijing to continue trade talks within the near future, not putting a timetable on it. this comes as president xi jinping and president trump are set to come face-to-face in japan at the g20. it also comes off of headlines crossing the bloomberg terminal on the president reportedly backing off of auto import tariffs. the second big headline no shocker here. ticket terry mnuchin also saying -- secretary mnuchin also saying this will head to the judicial branch of government to settle whether or not president trump should release his tax returns. that has been a common thread from democrats, including senior ranking democrat chris coons of delaware.

they repeatedly hammered steve mnuchin over his refusal to provide six years worth of the president'sch they subpoenaed last week. several democratic lawmakers even suggested mnuchin was breaking the law by refusing to provide the democrats and said he could be held in contempt of congress. >> no one is above the law. secretary, please seek out legal advice, personally, what your obligations are. department of justice is not protecting you. it's protecting the president. >> reporter: mnuchin said the department is also concerned about what kind of precedent this might set for future administrations and that he does not plan to turn over the president's tax returns unless a court decides that he has to. >> we want to make sure that the irs is not weaponized for any party. as i said, we've been advised, based upon constitutional issues, that it is not legal for us to pursue it. it has nothing to do with anything el. >> reporter: mnuchin dismissed the conclusion of a memo "the washington post" posted that said the agency is required to turn over the returns unless the president invoked e

. >>> less than a week after steve mnuchin said he wouldn't hand over president trump's tax returns, the house ways and means committee has issued a formal subpoena for the documents. the escalating fight for trump's tax returns could test the balance of power between the white house and congress, especially considering president trump's vow to fight all subpoenas from house democrats. last monday secretary mnuchin rejected the committee's request to turn over the documents arguing that it lacked a legitimate legislative purpose. president trump weighed in on twitter over the weekend writing quote, i won the 2016 election partially based on no tax returns while i am under audit, which i still am, and the voters didn't care. now the radical left democrats want to again relitigate this matter, make it a part of the 2020 election. house ways and means chairman richard kne richard neal has given the treasury department and irs until 5:00 p.m. this friday to comply with the subpoena. the chairman of the senate judiciary committee lindsey graham is offering donald trump jr. legal advice in