trump told the commerce department to cut zte off from u.s. ers.from u.s. the congress summer terry -- the commerce secretary wilbur ross accuse them of line. been's orders have devastating for te. -- for zte. their shares slumped trading in hong kong last week. officials telling bloomberg news over the weekend that china expected a reversal on zte to be a condition for continued talks. all of a sudden, trump throws this on the table. this is as we are waiting to find out when the vice premier, xi jinping's tops economic advisor, will come to the u.s. ross doesn'tlbur know exactly when he will come. these talks will happen when it's appropriate. the public comment period in the u.s. concludes on may 22. that is the date people are watching xi jinping. we can see goodwill gestures on both sides. we had china's abbasid or to the see china's- we ambassador to the u.s. : as the u.s. ambassador from china said something encouraging. -- i don't think the trade imbalance will continue. for us, such an imbalance is already a benefit. that we need to ma

the administration has assigned the department of commerce to lead for developing and consolidating space regulations not otherwise to assigned. so if an activity transits national air space, for example, the department of transportation has the lead -- as it should -- for anything going up and down. the department of commerce is responsible for all of that which is outside. and, of course, we still have the fcc as the independent regulatory agency for spectrum. so we're trying to reduce and consolidate, but we're probably not going to get down to one agency. now, virtually all private space activities require radio spectrum, as i mentioned, and the fcc -- while not a member of the national space council due to their independent status -- is one where we're strengthening our relationship as allowed by law. so improving the form of communications back and forth and, certainly, being respectful of ex parte requirements and such. the united states needs strong and innovative space industries. if we limit, however, space activities of governments, we would handicap ourselves and cede a key am

i'm interested in an industry viewpoint and then the commerce department can then act on. so the importance of groups like the satellite association. tom, plug. you know, other groups, to go in to the department agencies so that's how it then get baase the interagency is when commerce says we have a problem. defense says we have a problem. then that's something that's easier for me to deal with. i can hear from industry. and i went to hear from industry. but i'm in a position where i first need to respond to what my boss wants and then what the departments and agencies are saying but those departments and agencies become advocates for an approach that is broadly shared across the industry, then it's much, much easier for us to engage. >> great. great. well, thank you very much. >> okay. >> thank you. >> want to thank scott pace for those characteristically deeply insightful remarks. we can see why the president trusted him with the space council which is a signature initiative of this administration and the president entrusted mike pence with and i can remember conversation

that's in the commerce department can then act on. the forms of groups like the satellite industry association, you know, other groups to go into the department agencies, that's how gets into the interagency is went commerce comes and says we got a problem. defense is where the problem. that's something that's easier for me to deal with. i can hear from industry and i want to hear from industry, but i'm in a position where i first need to respond to what my boss wants and then what the departments and agencies are saying. but they become advocates for an approach that is broadly shared across

so president trump's commerce department banned u.s. erce from buying zte's products and pd sla then with a billion dollar penalty. that is not all. america's top law enforcement officials have been waving red flags on zte for years they say their products pose a national security threat. our big unbelievable question is why does donald trump suddenly want to put them back in business. john harwood joins me. explain this to me. what is zte? why would the president want to help. >> they are a very large chinese telecommunications company that as you mentioned has two big problems. one, they violated restrictions imposed by u.s. law on trade with north korea, and with iran. and second, our intelligence agencies believe that there is an espionage threat from their products in the united states. so the united states imposed these very tough sanctions on u.s. products going to zte. the company responded by announcing that they were shutting down. and this of course happens as the u.s. and china are beginning to have a showdown over trade. and

commerce department instructed to get it done. last month the commerce department barred u.s. for zte violating u.s. sanctions by selling to iran and north korea and lying about disciplining the plemploys involved. trump expects ross to resolve the trade action. this drew sharp criticism. calling the tech a major threat. the fbi director told the senate in february there are risks in letting companies like zte access u.s. telecom networks. >> provides the capacity to maliciously modify or steal information and provides the capacity to conduct undetected espionage. >> timing here is everything. trump's policy reversal comes as u.s. and china gear up for round two of trade talks. trump said china and the u.s. are working well together after past trade talks were one sided. be cool. it will all work out. >> let's hope it all works out. you have to think this is the president way off message or this is brilliant negotiating by the president ahead of the chinese delegation. they will be here for almost a week trying to make progress to end a trade war. >> and the u.s. has a very bi

commerce department instructed to get it done. last month, the commerce department crippled zte. it barred u.s. companies from selling zte vital parts. that punishment for zte for slig violating the u.s. sanctions and selling vital parts to iran. and then lying about the employees involved. last year, wilbur ross called zte's actions egregious. >> we are putting the world on notice. improper trade games are over with. >> are they? now the white house says trump expects ross to resolve the action. trump's tweet draw criticism from adam schiff and he said trump should care more about our national security than chinese jobs. trump's reversal come as round two of trade talks ramps up. a chinese delegation heads to washington this week. the goal to avoid a full-blown trade war. in a second tweet, trump said china and the u.s. are working well together. after past trade talks were one sided. adding be cool. it will all work out. >>> big day in the middle east. the trump administration doing what ada minute administrations in the past promised by moving the u.s. embassy to jerusalem. in

can you explain the commerce department especially in regards to fisheries? >> sure. i'm not going to get into the climate debate. commerce department noaa has their thinking in those reports in general have been reviewed sometimes favorably, sometimes less so that people in that field. i think i will let the record speak for itself. as to fisheries, one of the great surprises to me both in the confirmation hearing and even more so now that i'm occupying this job has been the amount of congressional attention to fishing, especially to red snapper. it's been so many men about the allocation of phishing capabilities between the commercial fishermen in the sport fishermen in the gulf of mexico that for a moment they refuse to read any red snapper. i'm more than had my fill of it every day. fisheries are very complicated area. many, many species. each one of them has a whole apparatus around it. i have one particular ax to grind and that is more than 80% of our seafood consumed in the u.s. is imported. that seems a little bit silly to me given the coastlines we have been

the administration has assigned the department of commerce for leading regulations not otherwise assigned. the department of transportation anything goingr up and down. the department of commerce is responsible for the regulatory structure for all of that which is outside. and we have the fcc as the regulatory agency for the spectrums. reduce andng to consolidate but we are probably not going to get down to one agency. all space activities require radio spectrum and the fcc is not a member of the council due to their independent status, and we are strengthening our relationship with them as allowed by law, improving communications back and forth and being respectable -- ex ectful of x part-time -- parte rules. private enterprise in partnership with government, there is no limit to what the u.s. can accomplish. this is why the space council has prioritized development of policies as the interface of sector interests. these include new space technologies, regulatory reforms, ensuring opportunities for private enterprise in space exploration and improving space resilience. you may have for d

last month, the commerce department crippled zte by banning it from buying u.s. parts for its phones for seven years. punishment for violating sanctions and lying about the employees involved. wilbur ross calls it egregious behavior. >> the question is there are alternative remedies to the one we originally put forward. that is the area we will explore promptly. >> decisive move from the commerce department. now looking for other ways to punish zte without hurting u.s. suppliers suppliers. in return, u.s. wants concessions from china like removing tariffs on agriculture products. the president is working to get zte back in business. now linking zte's fate calling it a broader negotiation deal with china. there is the trade angle here and there is a national security angle. just a couple of weeks ago, the defense department, pentagon, banned zte products from sold on u.s. bases for national security concerns. the top intel agencies -- >> tom cotton, republican senator from arkansas, asked the intel chiefs. would you use or recommend zte products by show of hands.

department of commerce. john gallagher senior editor and a member of the national press club headliners team. we have herb jackson, washington correspondent for the usa network. mrs. hilary ross the wife of the speaker today. we have the retired captain for the u.s. navy and executive director of the first global and national press club headliners member who organized today's plunge in. we have the bureau chief and former president of the national press club. skipping over the guest for today for just a moment, we have betsy fisher martin whose residence at the american university and cochair of the national press club headliners team. [applause] i would also like to acknowledge the members of the headliners team responsible for organizing today's event besides the people that i've already mentioned. we have lisa matthews, laurie russo and bill lord. also, the press club staff, specifically lindsey underwood and the executive director, bill. secretary goss was sworn in as the 39th secretary of commerce in fe

commerce department has been instructed to get it done.s who is live at the white house. this one caught everybody off guard, john. >> it did. this is my little portable my-fi pocket. it's made by zte. i've done a lot of business on this. zte, which is a telecommunications company was accused by the commerce department of violating sanctions that were in place against north korea and iran by selling them equipment. the commerce department levied a penalty of $1.2 billion, which looked like it was going to have a real financial impact on the company such that the company might not be able to survive. suddenly the president tweets out over the weekend that he wants to try to work with president xi to make sure that zte can stay in business. what is most likely at the bottom line of this is a couple of things, shep. there's trade talks going on between the united states and china, the united states is looking for big concessions, $200 billion over two years from china and the chinese are coming back later on this week to continue those talks.

commerce department has been instructed to get it done. let's go back to john roberts who is live at the white house. this one caught everybody off

in a sunday morning tweet the announced that the commerce department was working with president xi to throw an economic lifeline to chinese telecom equipment maker zte. bloomberg's international economics and policy correspondent michael mckee is here with the latest. this is a stunning reversal from the president. do we know if the chinese have offered anything in return? michael: we do not all that we know they have started the process of looking at starting to acquire a chinese tech company.

i can't comment on what the commerce department is considering but, again, i can assure you anything they consider will take into account show less text joe manchin the very important national security issues and those will be addressed. >> thank you, i certainly hope we'll continue to rigorously enforce our sanctions against north korea and iran. >> thank you, mr. chairman, in march the administration announced the u.s. will place a 25% tariff on imported steel and 10% tariff on imported aluminum which i greatly supported. historically trade deals haven't been good for our state of west virginia and appreciate the president taking a look at these trade deals and support that vigorously. as a way of looking at these tariffs, i think i would want to know where you stand on this as far as the tariffs on steel and aluminum with china. if that's still in place, if that tariff is going to go in force and it seems like when it was first brought out it was like a blanket across all trade agreements and then brought back from those who we had -- such as canada which we had surpluses with. wh

commerce department to get zte back into business fast. shortly after the president's tweet, sunday morning, democratic representative adam schiff tweeted in reply, saying our intelligence agencies have warned that zte technology and phones pose a major cyber security threat, you should care more about our national security than chinese jobs. the u.s. commerce department blocked american firms from working with chinese tech company zte until 2025 saying it violated u.s. sanctions against north korea and lied to u.s. officials. christina joining us now with more of this, it is complicate, right, gina. >> reporter: yes, the president struck a much softer tone when it comes to china. we have heard president trump's stance, broadly on china and zte in particular, this company is one of the largest phone makers in the world, it has 75,000 employees and last year the administration imposed a hefty fine because the company was selling its products to both north korea and iran in violation of u.s. sanctions. just last month the commerce department

when i saw the president wavering on zte and the tough punishment that the commerce department had, i called the president. and i talked to him for quite a while about not backing off. and not just simply doing some slap on the wrist, they can afford it easy. when zte is a prime issue national security and for america imposing sanctions on north korea, iran and anybody else. in general, i hope the presidents approach works. i said over and over again and he has acknowledged it. i am closer to the presidents views on trade with china that i was with president obama or president bush in their views. i don't think you did enough. we are present president to stand firm. not to zte wiggle out from the tough sanctions we leveled on. unfortunately, every time president xi flatters our president he seems to back off a tough deal which will really be bad for america.

in terms of enforcing the rules, the commerce department has initiated 751st and more trade cases than during the comparable period of the last administration. and we will continue aggressively to pursue violations. more comprehensive action has become necessary. two separate investigation, one in steel and the other aluminum has been completed by the department of commerce under section 232 act of 1962. under section 301 of the trade act of 1974 has been undertaken by the u.s. trade route against china for intellectual property rights violation. steel and the women of cases are aimed at dealing with today's problems. the 301 is to protect our future from an already evolved a negative trend in technology trade balance. this is the u.s.-china trade balance in high-tech. you can see that back in 2000, it was more or less breakeven and just about every single year and now what amount is around $150 billion, close to 1% of our whole economy. china's announced decision to subsidize dozens of the most promising technologies in order to become dominant in them by the year 2025 is a major issu

this is a commerce department enforcement issue working with the justice department. the president has been very clear that this is up to the commerce department, although i have participated in certain discussions, i can assure you that whatever the commerce department decides, the intel community has been part of the briefings and we will make sure that we enforce national security issues. so if there are any proposed changes on zte, the objective was not to put zte out of business, the objective was to make sure that they abide by our sanctions programs. one proposal that the commerce department did was obviously limiting exports that create certain issues for our company and our jobs. i can't comment on what the commerce department is considering. but, again, i can assure you anything they consider will take into account the very important national security issues and those will be addressed. >> yeah, thank you. i certainly hope we'll continue to enforce our sanctions against north korea and iran. >> secretary, thank you for being here. in march, the administratio

commerce department has been instructed to get it done.ll kinds of hubbub and then he tweeted out today zte the large chinese phone company buys a big percentage of individual parts from u.s. companies. also reflective of the larger trade deal we are negotiating with china and my personal relationship with examine th president xi. all right, you were one ever the people scratching your head. >> scratching my head and disappointed of the president's tweet. this is the opposite of the president talking about doing in the first panel where the president had laid out policy position stuck to it and implemented it. this is position of ad hoc national security policy making we have seen from president trump all too often first 18 months in office. zte is a horribly problematic company as suggested in the clip you played with tom cotton asking the heads of the community whether they would use zte equipment and they said no. >> bret: they are worried about chinese spying on the u.s. take them out of military bases across among many, many other rea

the president orders the commerce department to get back into business after cutting the company off from suppliers. the energy minister say there is an adequate buffer. supplies. cut the implication of the flattening treasury yield curve will be important to fed speakers who we will hear from this week. the morning. welcome to another week on the program. andave the breaking numbers estimatehead of the is both of the numbers numbers withof the the questions around shareholders and this is a target's that reflects the andance in the netherlands they see a strong balance sheets look around the story. meanwhile, we have had a mixed this is what we have talked about with a more positive working relationship chinese review is up by half a percent and we are back to business. and we heardhe low from the energy minister and talked about the capacity to pick up the slack that was left, if there was any and they said that it was too early to gauge the policy after trump pulled away from the iran deal and we have news with data coming out and the trade talks will restart in washington. the fu

it has to be said however that the white house has also come out and said that the commerce department'sion is independent of whatever the us president decides i'll try is the in on, but we should be getting some sort of a statement we understand over the next couple of weeks from the commerce department on what it plans to do with zte going ahead. yeah, an interesting timing all of this with china's premier heading to washington for trade talks. indeed, it does seem like that is the background to all of this, although nobody is actually saying that. it does seem that this is part of the ongoing negotiation tax mix that the united states is trying to persuade ageing to come round to its point of view on what it wants to do about trade. now, it is very rare to hear donald trump talking aboutjobs in china being at risk, that is what he mentioned in a tweet. usually, we see him talking about china's stealing americanjobs, see him talking about china's stealing american jobs, rather than worrying about chinese jobs, so really it does seem that these comments, as they have come against this e

betty: about turn on china, ordering the commerce department to stay afloat. haidi: malaysia's failed in on unchartered waters, the economy, corruption and missing money, topping the list. betty: the solution to everything, business leaders in new york to make the case for blockchain. haidi: hello from sydney where it is fast a 5:00 a.m.. i am haidi lun. we are two hours out from the open of asia's first benchmark it. betty: after 6:00 in new york, i am betty lou. we will be looking at how all the action on wall street will play into the asia-pacific trading day. i think we will be watching bitcoin this week, blockchain theory we will be watching for the price of that coin. we did and friday with a slightly bullish note. the dow is up 91 points, the s&p higher. tech shares still waiting on shares overall, but the dollar was steady. the s&p for stock market ending the week as i mentioned on the bullish tone at least a little higher. some of the panic also. that seemed to soften as well. overall it seems to leave investors more optimistic closing out the week an

the administration has assigned the department of commerce for consolidating space regulations. so if an -- the department of transportation has the lead, as it should, for anything going up and down. the department of commerce is responsible for regulatory structure for all of that outside, and we still have the scc as the regulatory agency for spectrum. so we're trying to reduce and consolidate, but probably won't get down to one agency. virtually all space activities require a radio spectrum, and the fcc is one where we're strengthening our relationship with them as allowed by law. so improving the form e communications back and forth and being respectful of ex-parti requirements. if we unleash private enterprise in partnership with government, there's no limits to what the u.s. can accomplish. this is why the space council has submitted policies on new space technology, regulatory reform and ensuring there are opportunities in space exploration and improving space resilience. the range of commercial opportunities are being provided to sending instruments to the lunar service.

chinese phone companies e.t.e. a way to get back into business fast too many jobs in china last commerce department has been instructed to get it done this is a story highlighting the capricious nature of a us dollar empire remember we've had this exorbitant privilege for the last forty years since one nine hundred seventy one since we went off the gold standard we've had this exorbitant privilege as charles the goals of government pointed out that we were able to basically print money and get free goods from the rest of the world and this worked out quite well for a very long time and led to globalization and a rise in global living standards and now it feels like once we erected one trade barrier one basically barrier by a swift to this financial this dollar financial system a few years ago against iran and at that time our guest jim rickards said be careful what you do because if you use this weapon too often things could fall apart but this story about c.t.e. what happened to z t e m a massive chinese telecoms company that got destroyed overnight by the u.s. and now is trying they're trying to

department of commerce. we have tim warren, managing editor at international trade today. and rebecca glover, director of the office of public affairs at the u.s. department of commerce. coming from this end. we have john gallagher. senior editor at ihs fair play. and a member of the national press club head loiners team. we have arthur swift. chief of content at gallup. we have herb jackson. washington correspondent at the "usa today" network. we have mrs. hillary ross, wife of our speaker today. we have kevin wensing, retired captain for the us navy. and executive director of first global and the national press club headliners member who organized today's luncheon. we have mark hamrick, the washington bureau chief at bank rate and former president of the national press club. skipping for a moment, skipping over our guests for today, just for a moment, we have betsy fisher martin, who's executive and residence at american university and co-chair of the national press club headliners team. i'd like to acknowledge the members of the team responsible for organizing the event

commerce department instructed to get it done. a ban crippled zte after the u.s. administration barred the company from selling vital parts. that was punishment for violating u.s. sanctions. zte selling phones to iran and lying about the employees involved. last year, wilbur ross called zte's actions egregious. >> improper trade games are over. >> and the white house says trump expects ross to resolve the trade action after talking tough. trump's tweet draw criticism from adam schiff and he said trump should care more about our national security than chinese jobs. tru trump's reversal come as round two of trade talks ramps up. in a second tweet, trump said china and the u.s. are working well together. adding quote be cool. it will all work out. >> be cool. >>> the trump administration doing what administrations in the past promised by moving the u.s. embassy to jerusalem. the white house declaring the move reflects the reality that jerusalem is the israeli capital. critics arguing this marks the end of america's role as an honest

the commerce department still needs to work on this.tement saying it expected the commerce department to make these decisions independently in the future, but clearly this comes amid train tensions -- trade tensions, in this seems to be a step towards de-escalation. >> what happens next, then? is trying to find that out right now. hey're seeking answers from the chinese government and the u.s. there are many u.s. suppliers that want to resume shipments to zte. they buy chips from companies like qualcomm and intel, and they buy optical components for many american suppliers. and need this to go out sell the equipment they make in the smartphones they make. so they are trying to figure out when they can kick back up your operations. just last week they put out a statement saying they stopped major operations because they don't have the components they need. they are looking to find out when they can resume the shipments. to theek, they are going u.s. to try to talk to the trade issues again, and this is one of the top issues they want to

commerce department to get xce under control.an president is due to meet -- this afternoon. with the federal reserve bank chairman in just over an hour. this is "bloomberg surveillance ." i'm francine lacqua in paris. we just spoke to the back to banke -- back to france -- de france governor. it is an international surveillance today. francine: it certainly is. let's get straight to the bloomberg first word news. here's taylor riggs. taylor: a major reversal for a president who's accused china of president.s. jobs, trump ordered the commerce department help chinese telecom getpment maker cte -- zte back in business. the company has now suspended operations. china is said to have told the u.s. that resolving the situation was a condition for trade talks to continue. the u.s. is ready to let american businesses invest in north korea, but there's a catch. first, north korea must prove it has given up its nuclear weapons arsenal. secretary of state mike pompeo says the u.s. can create conditions for real economic prosperity in north

didn't the commerce department make an independent judgment when they decided to issue this sanction against zte? you talk about the significance of bringing it up again now. how much does it have to do with the impending summit with north korea? critics will say that the president wants china's support and needs china's support and that is why he is now backing off on the sanction against zte. >> it is part of again the u.s. relationship with china, which is complex. it has economic factors and national security factors. this is one of many factors. the president is acting the secretary of commerce to look into the matter consistent the laws and regulations. >> senator lindsey graham said i wish somebody from the white house would tell the country that what kelly sadler said was inappropriate and that is not who we are as a trump administration. why not just apologize so america doesn't think that that is an acceptable way of speaking inside the white house? >> i understand the focus on this issue but it is going to be dealt with and has been dealt with internally. >> how? >> hang o

but our commerce department has brought charges against them. but the president announced on twitter this week he's instructed this commerce department to get zte back in business fast so the chinese jobs are not lost. if the president allows zte further access to our market and to american technology, could this place both our telecommunications networks and americans private data at risk? >> well, senator, questions about the commerce department, settlement, its remedies, i would defer to the commerce department. >> i understand. >> but what i can tell you is we, the fbi, remain deeply concerned that any company beholden to foreign governments that don't share our values are not companies that we want to be gaining positions of power inside our telecommunications network. that gives them the capacity to maliciously modify or steal information, that gives them the capacity to conduct undetected espionage. that gives them the capacity to exert pressure or control. so all those are things that we are concerned about with any company, that as i sa

two weeks after the commerce department said they would not sell the phones on the u.s. bases because of the concerns. the head of the agencies would not recommend americans use zte phones for national security reasons. listen to this. >> will you raise your hand if you use products or services from zte? none. you lead intelligence services. that is a bias question. raise your hand if you feel americans could should zte services? thank you. >> this administration with a commerce department got tough on zte. banned it from u.s. supplies for seven years. what is this? >> this is more like a condo salesman trying to do international relations. this is incredibly dangerous. zte was kicked out of u.s. markets because they violated sanctions and did business with iran and north korea. a colleague of mine points out if trump is willing to turn a blind eye with zte in the fact that they are a front for chinese intelligence, he is clearly not paying attention to those intelligence briefings and more interested in a deal and moving on. this is dangerous. this is a bad precedent. i

kathleen: he said the commerce department's review of zte will consider threats to u.s.nal security. zte violated those sanctions. he says this is still on the table as well. threadso many different on the trade story. one day after we heard that we have a truce when it comes to tariffs. still staying on the table. leen: the chief economic to donald trump saying tariffs are not over. donald trump did not set a deadline up to $150 billion on tariffs. the public comment period ending today. steve mnuchin was asked about this today. here is how he responded. mr. mnuchin: as it relates to china, the steel and aluminum tariffs will remain in force. we were merely focused on the proposed -- those are not being touched. betty: with the south korean president, donald trump said i am not really pleased with the china trade talks. steve bannon still a trump loyalist, says he is criticizing donald trump from retreating from the threat of tariffs but blames steve mnuchin. white house officials are blaming warring factions within the trump economic team for this retreat. they cannot

you mentioned by doing business with and shipping technology to iran in north korea well the commerce department last year imposed severe sanctions seven years they were going to forbid for dealing with american companies that were their suppliers so that effectively would put them out of business so the president china picks up the phone calls on. and says this company is going to go out of business if you believe what the outcome said and all these people are going to lose their jobs so the interim says we can't have that we're going to save the company so the new penalties are with the couple of billion dollars of it in fines they're going to have to put americans in positions of authority within the company to make sure that everything's on the up and up and they're also going to have to replace the entire management team and so that's what trump has agreed with with the commerce department marco rubio for one has been leading the charge of amongst republicans and others who is outrage and says z t e should go out of business we don't want them here in this country we should ban them we shou

in a quick break but hang here because when we return the april jobs report is out from the commerce department. and we have a big fan on tap to check out all the numbers that plus more afterward break we'll be right back. the global economy is so tightly wound that these sanctions don't work but they used to because the supply chains are completely overlapping to what is sanctioned one country drives economic problems of another country that you're not promising so forget sanctions or spell longer workable than the global economy has to come to integrate and to fragile its two. interdependent. about your sudden passing i've only just learnt you worry yourself in taking your last bang turn. your attitude up to you as we all knew it would i tell you i'm sorry but only i could so i write these last words in hopes to put to rest these things that i never got off my chest. i remember when we first met my life turned on each breath. but then my feelings started to change you talked about war like it was again still some are fond of you those that didn't like to question our ark and i secretly promis

commerce department barred z.t. ease access to u.s. suppliers over alleged violation of sanctions against iran and north korea leaving the smartphone maker to put a halt to major operating activities mr trump mimicking larry the cable guy tweeted that he had ordered his commerce department to get it done get er done which presumably means the administration will rescind the z t e export ban mr trump seems eager to ease trade tensions with china after months of provocations especially in the context of his upcoming summit with north korean leader kim jong kim has been meeting regularly with chinese the chinese a key allies ahead of the summit a bipartisan chorus of critics including former g.o.p. primary rival senator marco rubio of florida and u.s. senator chuck schumer of new york the leader of the senate democrats panned the president's attempt at economic diplomacy. the price of bitcoin has fallen again hitting a three week low over the weekend and trading at around eighty two hundred dollars which is sixteen percent below the recen

. >> that is better to the commerce department i don't handle litigation. >> but with those different standards of review and to have a reasonable public interest or compelling public interest, you are familiar with that. >> i am congressman. but i don't know how that intersects with this particular case. that matters of litigation will all be presented in litigation and it is inappropriate for me to speculate or comment today as i'm not the department's representative and that litigation. >> will yield for a question? >> i'm trying to figure out what one second is but i am happy to if you could keep to the split-second. >> just to follow-up answering to your question regarding the citizenship, he said they are making do with the data they are getting. when he answered my question he said they cannot enforce that at the block level that is contradictory to make i will see that i can help you out to the extent there is any ambiguity in your answer would you like an opportunity to synchronize your answer? >> i would. thank you congressman and for raising the opportunity. the citizenship

commerce department has been instructed to get it done. but of course it was the commerce department that slapped zte with the record breaking fine in the first place less than a year ago during the trump administration. the head of the commerce department, wilbur ross, said at the time those who flout our economic sanctions and export control laws will not go unpunished. they will suffer the harshest of consequences. this is the same guy the president is now telling to reverse that decision, which is weird. also, we just re-established sanctions against iran. we're now seeing a company that violated those sanctions should not be punished. so that's an awkward situation that's washington got itself into. we'll continue to watch it but it's a head scratcher. >> no kidding. >> developing in hawaii, take a look at this, kill wauea just wt calm down. it erupted again on sunday morning. more than ten days ago lava started flow from the earth forcing so many to evacuate and destroyed their homes. people are waiting in long lines to get masks to

chinese phone companies e.t.e. a way to get back into business fast too many jobs in china last commerce department has been instructed to get it done this is a story highlighting the capricious nature of a us dollar empire remember we've had this exorbitant privilege for the last forty years since one thousand seventy one since we went off the gold standard we've had this exorbitant privilege as charles the goals government pointed out that we were able to basically print money and get free goods from the rest of the world and this worked out quite well for a very long time and led to globalization and a rise in global living standards and now it feels like once we erected one trade barrier one basically barrier by a swift to this financial this dollar financial system a few years ago against iran and at that time our guest jim rickards said be careful what you do because if you use this weapon too often things could fall apart but this story about c.t.e. what happened to z t e m a massive chinese telecoms company that got destroyed overnight by the u.s. and now is trying they're trying to resurre

in a quick break but hang here because when we return the april jobs report is out from the commerce department and we have a big panel on tap to check out all the numbers that plus more afterward break we'll be right back. join me every thursday on the alec simon show and i'll be speaking to guest in the world of politics sports business i'm show business i'll see you then. the national rifle association's annual convention kicks off today in dallas texas the pro-gun advocacy group is no stranger to controversy but the temperature of the debate around the annual gathering is notably higher this year after another year of mass shootings in the united states that included the killing of fourteen students and three staff members that marjorie stoneman douglas high school in florida the stoneman douglas massacre jump started the movement for gun control when student survivors began organizing and the controversy spilled over into the business world and we have reported here a couple of times about some of these cycles of boycotts and backlashes that untangled brands including dick's sporting goods

commerce department has been instructed to get it done and it was the commerce department that slapped zte with the report breaking fine in the first place, less than a year ago during the trump administration. the head of the commerce department, wilbur ross said at the time those who flout our economic sanctions and export control laws will not go unpunished. they will suffer the harshest of consequences. now, he's the same guy who president trump is now expecting to remove the punishments, also super awkward because remember we're going to resanction iran and we've threatened other countries, we'll sanction their companies if they deal with iran. meanwhile we're removing the punishments of a company that dealt with iran. one to watch and one to try to figure out what's happening here. >> right. we will be watching. >> thank you, scott. 6:17 right now. developing in hawaii, i want you to look at this. kill way ya doesn't seem to cool down any time soon. erupted more than ten days ago lava started flowing from the earth forcing people to evacuate and destroying homes, some were waitin

chinese phone companies e.t.e. a way to get back into business fast too many jobs in china last commerce department has been instructed to get it done this is a story highlighting the capricious nature of a us dollar empire remember we've had this exorbitant privilege for the last forty years as nine hundred seventy one since we went off the gold standard we've had this exorbitant privilege as charles the goals of government pointed out that we were able to basically print money and get free goods from the rest of the world and this worked out quite well for a very long time and led to globalization and a rise in global living standards and now it feels like once we erected one trade barrier one basically barrier by a swift to this financial this dollar financial system a few years ago against iran and at that time our guest jim rickards said be careful what you do because if you use this weapon too often things could fall apart but this story about c.t.e. what happened to z t e m a massive chinese telecoms company that got destroyed overnight by the u.s. and now is trying they're trying to resurre

the commerce department, as you know, liz, had imposed a nearly $1.2 billion fine and had told u.s. companies that they could no longer sell parts into china for zte, essentially not necessarily shutting it down, but locking down a big portion of that company. as it turns out, this was a big issue for the chinese president xi as he told plump this would have -- as he told president trump this would have amounted to a loss of tens of thousands of dollars in his own hometown. they say all politics is local. however, back here stateside, the big concern throughout was a call that the security chiefs made testifying up on capitol hill months ago in which they said there is a security issue as it relates to zte. the secretary of state, mike pompeo, earlier this week testified that should there be a deal, it would address those security issues. >> we're going to get this right. we're going to reduce the risk from zte to america. >> reporter: however, many up on capitol hill are not impressed. for example, the republican senator marco rubio tweeted out this reaction, quote: yes, they have

in a quick break but hang here because when we return the april jobs report is out from the commerce department and we have a big panel on to check out all the numbers that plus more afterward break we'll be right back. i played for many clubs over the years so i know the game inside ives. football isn't only about what happens on the pitch put the final school it's about the passion from the fans it's the age of the superman ija killian erroneous and spending surge and twenty million one playa. book it's an experience like nothing else on to it because i want to share what i think of what i know about the beautiful guy migrates a woman chimes for. and makes this minute. global economy is so tightly wound that these sanctions don't work but the has to because the supply chains are completely overlapping and what is the sanction of the one country drives economic problems of another country that you're not trying to suffer get sanctions to spell longer workable than the global economy has to come to integrate. its two. interdependent. the national rifle association's annual convention kicks off

commerce department barred z.t. ease access to u.s. suppliers over alleged violation of sanctions against iran and north korea leading the smartphone maker to put a halt to major operating activities mr trump mimicking larry the cable guy tweeted that he had ordered his commerce department to get it done get er done which presumably means the administration will rescind the z t e export ban mr trump seems eager to ease trade tensions with china after months of provocations especially in the context of his upcoming summit with north korean leader kim jong kim has been meeting regularly with chinese the chinese a key allies ahead of the summit a bipartisan chorus of critics including former g.o.p. primary rival senator marco rubio of florida and u.s. senator chuck schumer of new york the leader of the senate democrats panned the president's attempt at economic diplomacy. the price of bitcoin has fallen again hitting a three week low over the weekend and trading at around eighty two hundred dollars which is sixteen percent below the recen