nor does it clear up the future of unionized u.s. steel workers in indiana and pennsylvania. u.s. steel and nippon have sued the federal government over the blocking of this transaction. how that gets result is complete the opaque right now. the japanese trimester did not say sigel thing about it. all president trump said, it would not be psychologically good u.s. steel to be purchased by. >> john: a7 peered what does that mean the underlying transaction, the future of u.s. steel workers, unionized all in pennsylvania and indiana, whose futures are dependent on some resolution of this. that is consistent with the difficulties of working out this particular transaction and in this case there was a diplomatic dance around it. the resolution to which we are still waiting for details. >> john: it's an excellent point, major. in terms of that cooperation and coercion, it could very well be the case that president trump is saying that the japanese steel company dropped its bid to purchase may have been trying to assert something that the japanese prime minister would not necessarily agre

like the idea of u.s. steel is a very important company to us, they was greatest company in the world for 15 year many years ago, 80 years ago. and we didn't want to see that leave. it wouldn't actually leave. but the concept, psychologically, not good. so they've agreed to invest heavily in u.s. steel, as opposed to own it that. sounds very exciting. we're going to neat with nissan next week, the head of nissan, great company, and they'll work out the detai tails. i'll help. i'll be there to mediate and arbitrate. i had the privilege of working closely with the great prime minister, shinzo abe, the longest-serving prime minister in japan's history. likewise, i expect that this prime minister is going to be a great one. i've got ton know him. for not long. but i can see what they have. he's got -- he's got the qualities of greatness. he's going to do a fantastic job for japan and for the japanese people. and i'd like now to invite the prime minister to say a few words and then we'll take some questions. mr. prim

u.s. steel is a very important company to us. it was the greatest company in the world for 15 years, many years ago, 80 years ago. and we didn't want to see that we've -- leave, and it wouldn't actually leave, but the concept , psychologically not good. so they've agreed to invest heavily in u.s. steel as opposed to own it, and that sounds very exciting and we're going to meet with nissan next week. the head of nissan, very great company, and they'll work out the details. i'll help. i'll be there to to mediate and arbitrate, and i had the privilege of working closely with the great prime minister, as you know, and you knew him very well, shinzo abe, the longest serving prime minister in japan's history. likewise, i expect that this prime minister is going to be a great i really believe that he's one. going to be a great one. i've gotten to know him for not long, but i can see what they have. he is going -- he's got the qualities of greatness. he's going to do a fantastic job for japan and for the japanese people. i would like now

but especially u.s. steel, u.s. steel for 50 years was the greatest company in the welcome of the greatest, number one company in the world. they are allowed to invest in it. >> mr. president, on terrace, and you tell us more about that -- tariffs, can you tell us more about that? pres. trump: i will be announcing tuesday or wednesday at a news conference. very simply, if they charge us, we charge them. >> [inaudible] pres. trump: almost immediately, but i will be announcing the details of it. it's highly detailed, and it will be great for everybody, including the other countries. but if they are charging us 130 percent, and we are charging them nothing, it's not going to start that way. >> every country? pres. trump: every country. it won't affect everybody. unless it is somewhere we have similar tariffs. but the ones taking advantage of the united states, we will have a reciprocity. it will be reciprocal. we are having a news conference tuesday or wednesday. i will be announcing steel tariffs on monday. >> on monda

there is the acquisition of u.s. steelon steel and expansion of -- what were the communication discussion did you have with president trump bush marked $1 trillion have an investment of japan, what was his reaction? what about your communication on the tariffs front? this is the first time that i met with president trump in person. so this was the first time meeting face to face, that for many, many years, i have watched him on television so it was quite exciting and so exciting to see such a celebrity on television, to see in person. on television, he is frightening and he has a very strong personality. but when i met with him, actually, he was very sincere. and very powerful. and with strong will. for the united states and the whole world. i was able to feel that. this is not the sort of publishing or trying to suck up to him. for the world peace and for the region stability, that both of their countries need to play our role and make our endeavors and responsibility. as for the increase of defense expenditures, but is n

i wanted to ask you about that u.s. steel deal. so you're saying that is this a is this a restructuring of the deal that's happening? and then will you approve? >> they're doing it as an investment. no longer a purchase. >> okay? >> i didn't want it purchased, but investment i love. and they're going to do a big investment subject to getting the deal done. and they'll be doing a big i'm okay with that. sure. >> and for the prime minister, what was your argument to the president related to u.s. steel? and one more on tariffs. mr. president, if i could, um, you said on tariffs that you'd like them to be reciprocal back and forth. what was the reception from the japanese prime minister when you said that or when you talked? >> well, we didn't discuss tariffs too much. we really discussed many other things, including the pipeline in alaska, which i think is going to be maybe the most exciting thing with doug and chris. we discussed that at length, the pipeline. i mean, it seemed to be of great interest to them. it's we have potentially

trump wants to save steel jobs in the u.s. hink the steel tariffs are not accretive -- effective way to create jobs. in trump's first term we did save some steel jobs, but cost jobs in manufacturing, auto production because the steel was more expensive so i'm not a big fan of this policy. we will see if trump implements it. sumi: can you give us a sense of the impact? steel is so critical for building infrastructure in the u.s., for construction, packaging and so on. steve: you are exactly right. steel is a major input in everything we produce, just as oil and gas are. it is not, in my opinion, a strategic way for us to bring manufacturing jobs back to the u.s. some studies show for every steel job we create we lose two to four in associated industries that use steel. i'm not sure this is a good jobs program for the u.s. sumi: surely the president's advisers would have made that point to him. why do you think he is pressing forward with this? we have not seen an executive order yet, do you think this is about making a good deal

the idea of u.s. steel is a very important company to us.y in the world for 15 years, many years ago, 80 years ago. and we didn't want to see that leave. and it wouldn't actually leave. but the concept psychologically not good. so they've agreed to invest heavily in u.s. steel as opposed to own it. and that sounds very exciting. and we're going to meet with nissan next week. the head of nissan very great company. and they'll work out the details. i'll help. i'll be there to mediate and arbitrate. and i had the privilege of working closely with the great prime minister, as you know. and you knew him very well. shinzo abe, the longest serving prime minister in japan's history. likewise, i expect that this prime minister is going to be a great one. i really believe that he's going to be a great one. i've gotten to know him for not long, but i can see what they have. he's got he's got he's got the qualities of greatness. he's going to do a fantastic job for japan and for the japanese people. and i'd like now to invite the prime minister to say a

on u.s. steel for 15 years was the greatest company in the world, the greatest number one company in the world. and i'm not going to let another country buy. we had a great meeting on that. but they are allowed to invest in it and that's it. mr. president, on tariffs, are you talking about the reciprocal tariffs coming in this week? can you tell us a little bit more about that and are you going down to inflation for this? yeah, i'll be announcing i'll be announcing probably tuesday or wednesday at a news conference, reciprocal tariffs and a very simply as if they charge us, we charge them. that's all we're in almost immediate. what? but i'll be announcing the details of highly detailed and it'll be great for everybody, including the other countries. but if they are charging us 130% and we're charging them nothing, it's not going to stay that way. but every country, every country will be a recipient of this. every president can confirm that won't affect everybody because there somewhere we have simi

i do think there are brighter days ahead for u.s. steeleel industry, particularly with the trade policies that president trump is looking at putting in place and has put in place and needs to enforce. the previous administration didn't enforce the trade agreements that president trump put in place and that's part of the problem. that's why there's been a depressed steel pricing, that's why there's been reduced profits in the north american steel industry and the u.s. steel industry in particular. we need to enforce those trade agreements we have in place. we need to enforce a stronger trade policy, a broader trade policy, and the u.s. steel industry has to thrive. we shouldn't be net importers in steel. the u.s. steel industry should be net exporters of steel. we should be the leaders, not china. maria: all right. well, great points, barry. good to see you this morning, thank you, sir. >> thank you. maria: barry zekelman joining us. quick break and then trump advisors turning focus on dismantling the department of education after the agenc

the acquisition of u.s. steel has been a struggling company back in the old days of the 1940's and 50's. this company used to build the steel that created skyscrapers and helped with the war effort in europe and has since gone into decline. attention from international players in addition to not having the capacity to build steel. these are the things donald trump is trying to address with international tariffs and it also helps in terms of raw materials getting to american carmakers. we should keep in mind this is very much a china focused move and china is the biggest manufacture of steel at the moment. they do so at a fraction of the cost to its competitors including russia and japan, the second and third largest creators of steel. this is an additional tariff and trade war component specifically for china. >> u.s. steel remains u.s. steel, not japanese steel for now. we need to talk about the u.s.-russia relationship. speculation about whether putin and trump had a call, who may have called whom. what do you r

the people from u.s. steel, with some japanese representatives. and i said, i can't let you have u.s. steel. you cannot buy it. we love japan. we're not allowed i'm just not going to let you buy it. it's u.s. steel. this is one of the great companies of the world. and, you know, and that was real stuff. that was that was steel. that was guys. and we're going to take that steel. and they're building buildings today. we have google and facebook, and that's fine, too. but it's a little bit different. and they become dear, dear friends. you know, i say that it's amazing how they've become. they spent $500 million on lock boxes. and the last one, they're sitting on the stage with me. that was that was a who's who of the world sitting on the stage. it's very different. the first one, i didn't have a lot of support, but i had a lot of people support. but, you know, we did great. then we had the second one where we did much better. we got ten or 12 million more votes and we did phenomenally in the second one. but then we said, look, we did great, but a lo

so they've agreed to invest heavily in u.s. steel it. >> and that sounds very exciting. >> and we're going to meet with nissan next week. >> the head of nissan. >> very great company. and they'll work out the details. >> of course a little confusion there. the president did say nissan. we think he meant to say nippon based on all of his remarks there. brian, i'm sure we'll continue to get more clarity from the white house. usually the market can figure these things out. >> yeah, he clearly meant nippon. i mean, he said nissan, but he meant nippon steel. that's obvious. i think that the investment versus outright purchase is interesting. so whether or not, you know, there's a buyout of u.s. steel which and you got to watch clf cleveland-cliffs is another player. your buddy lorenzo goncalves, the ceo of cleveland-cliffs, who's come after me a few times, but i think he's a he's a straight shooter. they're involved in this. how this plays out. >> ultimately will. >> not only impact x, meaning u.s. steel, but also clf. >> sure. and also o

as an ally, but has got some really good, productive, innovative ideas what to do with u.s. steelt i think would be healthy for the industry. i believe that the blocking of that was a bit poli knee-jerk ad would send a strong signal for the u.s. and japan to walk out with a different mind-set. >> sandra: alex, this was exactly the president a few minutes ago. in the white house, listen. did you change your mind about u.s. steel? >> no, we will discuss it today. we will have some pretty good information on pat. >> sandra: heck of a tease, alex, so that leaves us wondering what is coming. >> we will have to wait and see obviously. but the key thing is japan is most important ally in the world today. dance would be our oldest l.a. and britain may be most traditional ally. but the closest ally in the fight against chinese imperialism of the global lees is japan. that meeting is happening and the fact the president is willing to entertain and opening up possibility again is a sign how critical this relationship is at this point in our history. >> john: so trump was asked about vladimir

the u.s. steeloring under high energy costs, and the imposition of a new tariff would be disastrous. the u.s. is the largest second -- second largest market for the u.k. the british government today said seeking more information from the white house. the new british ambassador to washington said he had his work cut out for him. with us tonight is lucy fisher of the financial times. canada and mexico got a carveout on aluminum and steel in 2018. any suggestion we may benefit from the same? lucy: we didn't in 2018 when we were still a part of the european union. took collective action in retaliation as part of the block to that 25% tariff on steel, 10% tariff at that time on aluminum. the eu placed tit-for-tat tariffs on all american items like harley-davidson motor, motorboats, whiskey. officials have noted they could potentially dust down that ready-made list of retaliatory tariffs. of course, this is pretty disastrous for the u.k. steel industry at a time when it is already under pressure as you hi

u.s. steel once it, nippon still wants it. by the trump administration, so there is a lot of money on the line right now, martha. >> and discussion about ukraine, possible means between -- j.d. vance was brought up, and then president trump said he also expects to speak to president zelenskyy. >> if i may add color to the issue of japan, i want to point out that japan has been the largest foreign investor in the united states in the past five years. it was interesting to me coming into this meeting how seriously the prime minister took the meeting with trump. he said he took every preparation possible and met with shinzo abe's widow, in terms of preparing for this, and said his highest priority was as you mentioned earlier the personal relationship. i know that multinational companies, japan is the highest employer of americans in ten states and the second largest in six. we have a phenomenal economic relationship with japan that i don't think it's highlighted often, and to top of the list was the security issues of north kore

they discussed several issues is, including trade and nippon's efforts to buy u.s. steel. they met in the oval office before holding a joint news conference. president trump: looks like a nice group. are you are all ready? everybody set? thank you very much, it's a great honor to be with the prime minister. he is a highly respected man doing a fantastic job. the people of japan like him a lot. that's good and it's a real honor to have him in the oval office. this is the first time he's been in the oval office and when people come in the first time they say i like to look for a little while and he did. this represents some of our best perspectives but respects a lot of other things also but up on the wall we have some of our best presidents over years and people enjoy it very much and it's a great honor to have you, on and off. [speaking in japanese] >> mr. president, thank you very much for inviting me to the white house today. from the bottom of my heart, i would like to express my sincere appreciation for the invitation. >> speaking in japanese] >> through mrs. abe, asce

u.s. imports of steel and aluminum. would go into effect, but shares of the u.s. aluminum and steel producers are popping on the news, as are steel prices, by the way. but cleveland-cliffs a good barometer, up 18% today. my next guest says these additional tariffs can't come soon enough, as he's had to close two plants here in recent years. joining us for more is barry zekelman, the chair and ceo of zekelman industries. it's the largest independent steel pipe and tube manufacturer in north america. and i don't know anything about steel pipe and tube, barry. so please try to, like, break this down for me. what has been happening? we've we've had a lot of these tariffs going back to the first trump administration. they've been in place for a long time. what has been happening to your business. >> yeah i mean tariffs go back. >> a long way. but what's. >> happened is you know president trump put in 232 tariffs on aluminum and steel. he negotiated with certain countries to back down those tariffs and put in place kind of. a

u.s. steel stock down 20% in the last year. this morning, bouncing, up 6.9%.oks like this, futures indicating a pretty good rally at the start of trading, the do dow industrials up 144, we've got fourth quarter earnings season in full swing. we'll hear from mcdonald's this morning, followed by coca-cola out tomorrow, paramount global after the bell on wednesday deere and within and wendys on thursday. with us now, brad mcmillan. i want to get your take on earnings. how would assess the quarterly earnings and what do you think is behind the firmer stance kicking off the new week? >> i think the market is looking at the earnings that are coming out. we've had good results so far, expected results going forward are still great. that's what i think the market is going in on. they're saying okay, the earnings are doing well. we've got a lot of things to worry about but nonetheless companies are making money. as long as that happens, other things being equal, the market's going to go up. maria: are there areas that you think growth will be more prevalent in terms of

that was after he had met with u.s. steel at the white house. we know that nippon steel had originally had this deal. you know, multi-billion deal to try and buy u.s. steel, something that president biden actually blocked. the president last week said. he said there's going to be a big investment in u.s. steel from nippon. still waiting on those details as well, john. >> so a lot of us went to sleep late last night after the super bowl and woke up early to the news of this new war on pennies. what's going on with that? elena? >> that. that's right. we saw the president post overnight about this, saying he was going to be directing the treasury department to stop minting pennies. i want to read for you what he wrote. he said, quote, for far too long, the united states has minted pennies, which literally cost us more than $0.02. this is so wasteful, he said. in that post, he went on to say, i have instructed my secretary of the united states treasury to stop producing new pennies. now, the move is really the latest in what we've seen has been a rap

president trump speaking to reporters saying that he hasn't changed his mind on the u.s. steelippon steel deal and i just want to point out that we have the yen weakening as well as we're getting these headlines. so the president habit changed his mind on u.s. deal nippon steel. trump not meet the u.s. in gaza. and autotariffs are always on the table. he will be talking to president putin and he also says he will be meeting with prime minister xi probably very soon. those are the headlines out of the president's meeting with ishbia. this is bloomberg. this is bloomberg. ♪ i can't believe you corporate types are still calling each other rock stars. you're a rock star. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people are (guitar noises). hand over the air guitar. i've got another one. (♪♪) now for something you can both agree on a sleep number® smart bed is perfect for couples the climate360® smart bed is the only bed that

nucor, steel dynamics, all trading much higher after president trump said he plans to impose 25% tariffs on all u.sports of steel and aluminum. for more we are joined by jojo who covers steel for bloomberg news. why is this a good thing for the united states? joe: it is a good thing for u.s. steelmakers who got off of their worst year since 2018. they were getting crushed by lower demand, largely construction because interest rates were so high. now they will get a nice boost. you are talking about a pretty low bottom for the stocks we have seen for the prices of steel as well, and by bringing in these tariffs it will add at least $150 per ton to price which is good for profitability for the steelmakers. as for the u.s. as a whole, this will be more costly for consumers. vonnie: for sure. futures contracts already pricing in these tariffs. might there be exemptions? i know south korea is looking for one and australia is looking for one. joe: it's going to be a conversation. donald trump said on air force one that he is going to implement this tariff on all imports of steel and aluminum. but we saw

i think u.s. steel, even without the dynamic. here around nippon or, you know, cliffs or anybody else, was that this company was cheap, companies cheap. but there was obviously some cyclicality to steel prices, things we were worried about. there's clearly a need for reinvestment in a couple of the core smelters. and that's the story. we just got numbers out of u.s. steel. the margins were better. the dynamic is interesting. you know what is what is the outlook for steel? that's a big part of this. but i think you can stay long in the stock either way. i agree with steve that, you know, really what the headlines are all about are things that seems like everybody kind of wants to make sure that u.s. steel wins. meanwhile, u.s. steel on its own, i think was undervalued going into this. >> so maybe it doesn't matter how it gets there if you think that it's going to win in the long run. mike, what do you think? >> well. >> i mean. if you. >> take. >> a look at. >> what the options. >> were doing. >> today. >> it seems. >> like there's

tariffs on u.s. steel imports at a rate of 25%. now, if the theme of the first few days of the trump administration was flood the zone and the theme of next week is tariffs, the theme of the past few days has been revenge and retribution. jessica. i mean, over the past few weeks, we have seen president trump dramatically reimagine and reshape the use of executive authority, and we have seen him use that presidential authority to take aim at his perceived enemies. so over the past few days, he has really expanded on those themes of revenge. we saw him announce that he would be clearing former president joe biden of his security clearance. he announced that he would be stripping the security details of more officials, including former defense secretary mark esper, who of course, remains subject to threats from iran for the actions he took under the first trump administration. he announced plans to gut the board of the kennedy center and install himself as the chairman of that board, and he also dismissed the

president trump ordering a 25% tariff on steel and aluminum imports affecting all u.s. imports, including from canada and mexico. that levy will go into effect from march 12. take a listen. >> essentially we are putting on a tariff without exception on oil, aluminum, and oil, steel, and it's going to mean a lot of businesses are going to be opening in the u.s. >> that is not it. there are going to be more trade barriers on the way with cars and ships potentially the next targets. let's get more from our opening trade anchor kriti gupta. what to we know about how these tariffs are going to apply and how they are going to interact with what is already there? >> protection is not new and certainly is not something donald trump invented. you heard her talking about the effect on things like the indian rupee, especially amid that commodity shop. you saw a lot of exports from around the world hit roadblocks in terms of how they will be exported because they wanted supplies for there to mystic audiences. this is taking that to another level. it's interesting it's coming up on r

u.s. steel will now be a valuable company. anyone that makes steel will be great. anyone that works in or makes steel will be happy. >> what do you say to consumers worried about prices? pres. trump: ultimately you will have a price reduction because these companies will move to the u.s. and make their steel and aluminum in the u.s.. ultimately it will be cheaper but we will also have jobs, more jobs. we are looking at numbers and we will be coming up with a number but we have -- we make some of the finest cars in the world and some companies prohibit us from selling those cars. they send cars to us and we don't do that. we charge nothing or 2.5% and they will be charging 100% or much more if you look at some of them so i think those days are over but we will be announcing other things such as cars. we have some other things we will be doing but the biggest thing is reciprocal. we want tariffs to be fair. if they charge us, we charge them. we will be doing reciprocal over the next two days. maybe. reporter: the australian prime minister said you are considering an

they pitched to acquire u.s. steelnt joe biden rejected while in office and trump was on the same side with biden on that issue. to discuss that issue with me is richard stern, from the federal budget at the heritage foundation. thank you for joining us. >> thank you for having me on. rich: all of this with nippon steel, do you think that an investment is going to solve this issue and eventually going to move on here? >> absolutely. this is trump the deal maker that we've come to know and love. we're talking billions, perhaps tens of billions of investment in building new factories, breaking ground and building up the capacity that leads to good jobs and restores the manufacturing base. rich: do you think that the biden administration's concerns were overblown here? >> the thing about this, the biden administration doesn't like production, things being made here, they didn't like supporting american workers. i think that trump has figured out a secure way to preserve our steel industry, to bring in investment from a tr

u.s. manufactured steel versus perhaps the tariff expended foreign steel that might be coming in. do you look at that and say let me be a buyer of u.s. steelmakers? >> i personally don't even from the trading standpoint. what i look at and agree with michael completely financials to me are one of the sectors that i think are going to absolutely have an incredibly blowout quarter next quarter we producing results but would you look at the backdrop in the landscape and especially from a trading standpoint here, the sector this is going to break out. they are going to have like goldman sachs, j.p. morgan, bank of america, i think that the revenue that they will have from trading revenues are going to be absolutely incredible. michael mentioned m&a, who does not benefit, not just small caps that will benefit a lot of the financials as well. this is an area that i like both as a trader and as an investor longer-term somewhere that i want to belong. when you talked about the steel stock that scenario or one-off when the news is right there. >> let me jump in if you look at the last time

reporter: have you changed the mind about the sale of u.s. steel? president trump: i think we will be discussing that today and we will have pretty good information on that. [chatter] reporter: if the deficit doesn't get to -- president trump: yes. [speaking japanese] reporter: what is your plan on reciprocal trade? president trump: i will be announcing that next week. we don't want any more or any less. i will be announcing that next week and many other things having to do not with trade but other things. i will be talking about reciprocal trade and will have a news conference. pretty simple. [chatter] president trump: we will be talking about that next week. [speaking japanese] >> that means with the development of the united states as well as the development of japan. and i do hope that whatever actions should meet this criteria, meaning that serving the interest and as to specifics, i understand we are going to have further discussion. reporter: are there any specific concessions you will be asking from japan that you can share? president trump:

. >> have you changed your mind about the sale of u.s. steel? >> i have not. >> u.s. steel has struggled of late. japan's nippon steel wants to buy it but the sale was blocked by joe biden. trump has agreed so far no sale but promised an investment deal to come. >> they are doing it as an investment, not a purchase. >> as he extends a hand to some, trump and elon musk are pushing to get workers out. workers dismantled the agency sign at usaid. leadership has been told it as few as 300 workers total may be all left. trump was asked about musk. >> we have smart people going in so i have instructed him to go into education and other things as we go along and they are finding massive amounts of fraud, abuse, waste and all these things. i will pick out a target. >> elsewhere -- >> we are members of congress. >> democratic members of congress were turned away at another agency where they said they had unanswered russians on capitol hill -- questions. on capitol hill, house democratic leader hakeem jeffries and others are criticizing republicans in the president for not comin

when it comes to u.s. steel president trump said the japanese company and has agreed stop trying to by u.s. steel for $14 billion and that is something democrats and republicans opposed during campaign season and they will instead invest heavily in u.s. steal and auto manufacturing in the united states. we don't have the details of what it would look like but president trump said he will be there to mediate and arbitrate the talks when they happen. and doge came up. i had a chance to ask president trump about the numbet democrats have witches that doge engineers have access to stuff democrats don't think they should have. listen here. [inaudible] dispersing trillions of dollars every year and contains social security numbers and addresses and bank accounts. why does doge need all that? >> president donald trump: it doesn't and we get it very easily. we don't have good security. and what we are doing with what has taken place with respect to some of the investments that have been made on another agency that peopl

he also opposes the purchase of u.s. steel by japan's nippon steel. now, u.s. l says that's the only way it will survive. president biden also opposed the purchase as well. white house says there will be punitive tariffs announced today. against who? how much? still a little fuzzy. so we're going to stay on top of that for you. friday we found out american hiring slowed quite a bit. the latest jobs number showed 143,000 jobs added to the economy last month. compare that to a seasonally adjusted quarter million the month before. but the economy continues to chug along. the unemployment picture still looks great. the economy is still producing robust numbers of jobs, and the outlook is looking great for the soft landing. all right. that said, a few thousand meta employees just opened their emails and found out they've been cut. a memo first seen by reuters says those who will be laid off were informed at 5 a.m. our time, these are expected cuts. we just didn't know who. some more thoughts on the penny. president trump says he's ordered the u.s. mint to stop making

trump meeting with the ceos of fedex and u.s. steel today.stocks are up more than 2% at this hour. the discussion with the steel producer comes after nippon steel's a bid to acquire u.s. steel was scuttled last month by then-president biden who cited national security concerns. donald trump has cited the same issues, but lawmakers are also stopping by the whys. president trump -- the white house. president trump linking up with congressional republicans to debate the size, scope and details of his, quote, big, beautiful bill to cut taxes, regulation and government spending. fox business' edward lawrence fresh out of a press gaggle with the white house press secretary. he joins me now. >> reporter: liz, i want to give you breaking news. we're hearing are from a white house official, they're pushing back against that "wall street journal" report that the administration plans to fire thousands of health and human services workers. that official telling us that there will be no such -- that is not true, there will be no such executive the order f

so they want to probably have some conversations about u.s. steelh nippon steel which, yes, is owned by japan. we don't have any firm ideas what came out of that meeting, but the timing of that meeting, before the japanese prime minister comes to visit, is not lost on us. stuart: social media company pinterest. when when i it's surging, i mean it. it's really surging. look, i'm not surprised because i've seen some numbers here. they have got 535 million monthly users. >> i know, right? who knew? if tiny, little old pinterest. fourth quarter revenue i and as you mentioned, really strong user growth. they're up to about a $115 billion in -- 1.15 billion in sales. and monthly active users was up11% year-over-year. to see ego said, basically, our strategy is paying off. -- ceo. people are coming to pinterest more often, and it really is a focused use orer base for advertisers. if. stuart: now, we spoke earlier about amazon's earnings. the stock is down this morning, it's down 2.3%. tell me more. >> yeah. basically, guidance is what disappointed. they're

u.s. steel will be a very valuable company. anybody that makes steel is going to be great. anybody that works in big steel is going to be very happy. >> what do you say to consumers? pres. trump: i don't think -- you're going to ultimately have a price reduction because they're going to maybe the steel here. there won't be any tariff. these foreign companies will move to the utes and make their steel and aluminum in the united states. ultimately it'll be cheaper. but we'll also have jobs. many, many more jobs. we're looking at numbers. we'll be coming up with a number. but we have -- we make some of the pa finest cars in the world. some companies prohibit us from selling those cars in their countries. but they sell us cars, they send cars to us and we don't do that. we charge nothing or 2.5%. and they'll be charging 100%. they'll be charging much more than that if you look at some of them. so i think those days are over. but we'll be announcing on other things such as cars, got some other things we'll be doing. but the biggest thing is reciprocal. we want tariffs to be fair

canada is the biggest exporter of steel and aluminum to the u.s, and while u.s. steel imports have declined 35% in the past decade, aluminum imports have gone up 14%. the new tariffs come as more lawsuits are filed against the trump administration, with democrats trying to figure out how to respond to the president's moves to overhaul the government. we have seen elon musk conducting illegal raids on federal agencies with his doge crew. meantim president trump's offer of mass buyouts for government workers remains on hold after a federal judge heard arguments in that case today. well, so far he has been on brand. donald trump promising to radically reshape the federal government, abolish wasteful agencies and fire thousands of employees. our political analyst, larry gerston is here. promises kept. we often say elections have consequences. and so far, mr. trump at least, is wanting to follow through and is following through. in many accounts, he's following through and so are others because we have 27 court suits right now running through the federal courts. you he

he's against a japanese company taking over u.s. steeling he said before he came into office. he's sticking by that. he talked about the fact that he might have more tariffffs on otr countries including japan. japan's prime minister said he understands the u.s. is trying to have mutually beneficial trade agreements. there's a lot of domestic news. the president talked about the authority he's giving elon musk, saying he's the person in charge and that elon musk is doing what he's allowing him to do. he said somebody about fbi agents that i need to underscore. he said he was open to firing fbi agents who worked on january 6th cases. we know that a number of federal prosecutors and heads of the fbi field offices have been done away with and forced out by this administration. it was striking the hear the president say that fbi agents, career officials, thousands of them who worked on the january 6th capitol attack case, that some of them could be fired for just doing their jobs. president trump said it's because they were part of a political

nippon steel and president trump's continued opposition to nippon steel's proposed purchase of u.s. steellet's now get to the president of the united states, donald trump. vonnie: from just a moment and for a moment, can i just let you know that the yen has been weakening. it's trading 15159. that is not on one particular country. that is a generalized statement from the president. michael mckee joining us. we have the university of michigan inflation expectations which spoiled the market. >> there were some good and some bad come and ugly. if you want the good, 143,000 jobs isn't great created by -- they revised up december 307,000. so that is certainly good. and we saw the announcement rate go down. we saw average hourly earnings rise by a stronger than expected half a percentage point. and then you've got the bad from the university of michigan. the university of michigan sentiment index dropped constantly. and the ugly ills the university of michigan inflation number. up a full percentage point to 4.3% from 3.3%. looking at the possibility of tariffs, vonnie, and that scared people. t

this is a big deal because canada produces about a quarter of u.s. steel imports and mexico supplies about half that. analysts say the new tariffs might help domestic producers, but could lead to higher prices. in the meantime, china's 15% tariffs begin today on oil, natural gas, farm machinery and much more. and as president trump has been busy signing a flurry of executive orders in his first three weeks in office, so far, he has had a positive approval rating, according to the latest cbs news poll. so what's behind his numbers and what should we be watching for going forward? cbs news director of elections and surveys anthony salvanto joins us now to help break it all down. so, anthony, what's behind trump's approval rating? >>>>hey there ryan. well start with this. that 53% that net positive. that's better than anything we recorded for him in his first term. and to answer your question, there's a couple of big things. one is that 70% feel like he is doing what he promised to do in the campaign, and that's whether they approve of him or not. but for the

and today, nucor, u.s. steel stock prices of steel companies that are american went up on the idea that people will use more american products. and that is likely to happen here. okay, here's my other question, though. what about the steel that has to be used to manufacture cars specifically when you're talking like we already put he's already warned mexico and you know and canada about these potential tariffs. those are on hold. but won't this impact them at all. it will jessica. and that's the other side of this. yes american companies are likely to see a little bit of a boost. but we import aluminum and steel from dozens and dozens of countries. so no matter what, we're still likely to need foreign steel and aluminum to build cars, to build buildings, commercial and homes to build military things. there's just so much that we don't have enough steel production here. is that correct? so even though it may boost what we do here short and long term, potentially we're still going to import a lot. and who pays for

if on the economic field, there is the acquisition of u.s. steelsteel and's tension of import of l lng. what was the communication discussions that you had with president trump? for the $1 trillion of investment -- [inaudible] japan's invest if. , what was his reaction? what about your communication on tariff front? >> translator: this is the first time that i met with president trump in person. so this was the first time meeting face to face. but for many, many years -- charles: all right, folks, we'll go back to -- that was a very long question, and i think the japan prime minister is probably going to the take a while to answer that. i want to talk about something else for a moment. you know wick wikipedia be if you google fallacies, there are literally scores and scores and scores of them. we're talking about the use of an invalid or otherwise faulty reasoning to construct an argument. well, my next guest is going to add to this incredible list of fallacies with the fallacy of piling into the 493. i want to bring in pellpoint chief can -- bellp

u.s. seal -- steel. u.s. steel has struggled as of late. japan's nippon steel wanted to buy it. agreed no sale but today in promised an investment deal is to come. pres. trump: we are doing it as an investment purchase. correspondent: as he extends ahead to some, trump and efficiency czar elon musk are working to push workers out and chip away at their agencies. workers dismantled the agency side at what was usaid. 300 workers total may be allowed to could -- to continue. pres. trump: we have very smart people going in. go into education, military, other things as we go along, and they are finding massive amounts of fraud, abuse, ways, all of these things. i will pick a target and say go in. correspondent: elsewhere -- democratic members of congress were turned away at another agency where they say they had unanswered questions. >> where is your bill? where is your budget proposal? correspondent: house minority leader hakeem jeffries and other democrats are stepping up witticism who have not come up with their draft for a critical budget deal, and they say are ignoring funding p