certainly the department of commerce has a fair lifetime to investigate this. m hearing the department would like to move this investigation forward fairly quickly. concerning because we are hoping they are going to follow the facts. i heard secretary ross say his mind is made up. that andnly appreciate we hope you does look at the facts. one of the problems is there's a tremendous amount of uncertainty right now and businesses need certainty and stability. a greathat supports investment climate. i'm concerned that prolonged uncertainty even before tariffs will also serve to hurt our opportunities to continue to invest in exports. by the way, we have existing tariffs on steel and aluminum and in the back-and-forth between the u.s. and china which is already hurting the u.s. auto industry. shery: president trump said he would try our ties a bilateral deal with mexico over canada. are your members already looking at scenarios where you could see a collapse of nafta? and how could they reposition themselves a bilateral trade -- if bilateral trade deals take effect?

commerce department has temporarily lifted part of a sales ban on the chinese tech giant said he the ban all but shut down the company in april when washington accused of continuing to contravene sanctions against iran and north korea now restrictions have been lifted at least for the meantime. the temporary reprieve is only until the end of july and conditions under which that t.-e. will be allowed to resume business are strict the chinese tech giant will be able to maintain existing telecom networks and mobile phones in the usa and to carry out security patches to continue operating the company must pay a one billion dollar fine replace its executive team and hire u.s. compliance officers it was only in april that the company suspended most operations after the commerce department imposed a seven year ban from buying u.s. components and technology said he relies on u.s. companies for nearly one part in every four that go into its networking hardware and smartphones he said t e pleaded guilty in march twenty seventh teen to having shipped equipment to iran and north korea in violati

more than 40 people had to the commerce department for a public hearing on auto tariffs. the eu stands by to retaliate. welcome to "bloomberg daybreak." perfect timing. zeroing in on that. >> my favorite part of the quarter. it is a beat on the bottom line. eps at $.90. the estimates was $.74. slightly down from last quarter. they were $450 billion or so, coming in at $439 billion. a bead on the bottom line. net inflows in the second quarter. this is a juggernaut. alix: that is still serious cash. throughbe parsing for where the opportunities may be. the s&p is down. seems to be the story of the morning, picking up speed. having ripple effects. the first is the two-year yield at the highest level since 2008. 26 basis points, to tens, a little bit steeper. crude getting hit, off 1%. it is really copper, a six-week slide. it is dollar story, china-concern story. our time now is for bloomberg's first pick. we are joined by bloomberg's opinion columnist. alcoa was front and center. here is roy harvey on the call yesterday. >> we are reducing our 2018 outlook to reflect recent

commerce department listening to industry insiders. we're live from washington with the latest. >> we need to insure a level playing field with america's trading partners. imposing costly tariffs on this vital industry does threaten our nation's economic growth it puts manufacturing jobs at risk. r cat a scratch so small you coulda fixed it with a pen. maybe you should take that pen and use it to sign up with a different insurance company. for drivers with accident forgiveness liberty mutual won't raise their rates because of their first accident. liberty mutual insurance. ♪ liberty. liberty. liberty. liberty ♪ brbut how will his dentured to thicope with... a steak. luckily for brad, this isn't a worry because he's discovered super poligrip. it holds his denture tight and helps give him 65% more chewing power. leaving brad to dig in and enjoy the tastiest of t-bones. super poligrip, helping you enjoy the foods you love. stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to i

commerce department has temporarily lifted part of a sales ban on the major chinese. the ban all but shut down the company in april this year when washington accused of contravening sanctions against iran and north korea now restrictions have been lifted at least for the meantime. the temporary reprieve is only until the end of july and conditions under which that t.-e. will be allowed to resume business as strict the chinese tech giant will be able to maintain existing telecom networks and mobile phones in the usa and to carry out security patches to continue operating the company must pay a one billion dollars fine replace its executive team and hire u.s. compliance officers it was only in april that the company suspended most operations after the commerce department imposed a seven year ban from buying u.s. components and technology said t. he relies on u.s. companies for nearly one part in every four that go into its networking hardware and smartphones. pleaded guilty in march two thousand and seventeen to having shipped equipment to iran and north korea in violat

if you have one of the department of commerce and one of the department of defense and then you end up arguing. we actually used to have that inside the department of defense because we had one that was done by the navy and one that was done by the air force and is not healthy to be arguing over which one is better. you have picked the best data and build that catalog. the authoritative catalog will always be in the department of defense. then they can take other pieces to do the interface with other nations in the commercial sector, possibly with nasa. i would envision what the congressman did, i would see it at the coalition center, will have international partners and commerce and that will feed information out of there into commerce and into nasa. i think that's a healthy way. like the secretary said, we are still in the early days of figuring this out. >> and still that clarification you just mentioned i think is very reassuring to us and it shows a wonderful relationship between dod and the department of commerce. thank you, mr. chairman. >> the chair recognizes ranking member jo

the final piece to this puzzle, the us commerce department said yesterday, is there had to put $400 millionthat enough for such a huge company like zte, and are they now out of the clear? no, they are not out of the clear. the us commerce department says this was the strictest penalty they have ever imposed, however us lawmakers, both democrat and republican, have serious reservations. they consider zte to be a national security concern, so zte to be a national security concern, so this may not go away any time soon. not only national concern, but 4.7 billion dollars is still a small amount to pay. well, it isa still a small amount to pay. well, it is a battle royale in the media industry. both 21st century fox and the us cable network comcast have raised their bids for the european broadcaster sky. what exactly are they after? here is our business editor. so why does everyone want to get their hands on sky? well, basically there is a global arms race going on in the media world, both for content, so you are seeing a merger between disney and 21st century fox in the pipeline, and also for d

department of commerce could have some troubles finding someone who actually supported the tower. yes you're right. old bob one of forty five witnesses scheduled to testify today are expected to testify against. those terrorists on important cars and car parts one representative on the labor union of the united. workers expressed today a sort of measured supports saying that decades of disinvestment and. you as jobs multi-nation oil companies has weakened you as economic security as a nation but old al gore witnesses i was listening to were quite sure they wanted the consequences of such terrorists would be on the floor scene and this stressed that the u.s. car industry is thriving so there is no case here no threat to u.s. national security ok so let's cross over to new.

this is playing out as a commerce department is getting pushback from industry.hery: how likely is it we will get a solution when the president meets with the european commission chief next week? jenny: we have to have modest expectations. there are divisions within the eu member states. germany is pushing for it more than other countries. the eu commission does not have a mandate to negotiate with the u.s. right now. u.s. -- the eu is not willing to negotiate with the u.s. unless the steel and aluminum tariffs are taken off and the threat of auto tariffs is taken off. that is not something that trump administration is willing to move on. we are at a stalemate. kevin: would you also note that it appears, especially with regards to some of this, some economists are saying the u.s. has the upper hand? this, again, to the president tweeted the eu has taken advantage of us but we will not let this go on for too much longer. what does that mean? we are also thinking, ok, so it sounds like a threat and we are all waiting for the next shoe to drop. but piling on leverag

the president of the commerce department holding a public hearing yesterday on that front. they received 2,300 comments in addition to the information they got from that public hearing. now the commerce department has to create a report based on this by february 17th and any time before that. after that report is done, then the president could go forward with those 25% tariffs on automobiles and automobile parts , coming into the united states. now, all of this as the commerce department has a new list of exemptions they put out for the steel and aluminum tariffs. they're talking steel specifically. they have received 25,000 companies asking for exemptions in steel, 197 have been granted. 394 have been denied, as far as aluminum goes, about 3,000 exemptions have been asked for or questioned on aluminum, 68 have been granted and 27 have been denied and the president believes that he stays the course and says in the short term we may feel hardship, but in the long term the president leaves this is the way to level the trade playing field. ashley: edward lawrence just another

experts atthey are the department of commerce who have been there for decades. not political appointees. they are career folks with looked at the situation. this is the information they have provided. we have the treasury department, commerce department, the united states trade representative, hundreds of economists who have looked at this on these other recommendations they have provided based on the information in the same data you have looked at. sen. flake: i would suggest you torture datao use to come to a conclusion that this is going to strengthen our overall economy. just the data out there affirms in spades that this will lead -- lead to a weekend economy. we are seeing the effects on it now with the announcements of companies moving offshore. with a straight face that the administration tries to claim and tries to say simply, ignore what we know about the economy and the effect of these kind of tariffs. thank you, mr. chairman. sen. corker: senator markey. markey: thank you, mr. chairman. attendth koreans did not a meeting they were scheduled to have wi

because we still have commerce department saying they are reviewing whether to put these auto tariffs on or not? >> that's fair enough. >> brennan: it's hanging over your neck. >> we'll see how that study comes out. president asked for it. >> brennan: you don't think we'll see that 20% tariff on autos? >> i don't want to get ahead of anything in this game, margaret, as you well know. all i'm going to say is the eu story is moving ahead very rapidly. very rapidly. and i think that by the way puts china in a very difficult position. china is, i think, being isolated. i don't know if they realize it or not. i assume they do. not only is the eu and u.s. coming back together as i said before i'm looking forward to a deal on mexico and i think a deal with canada is out there china all of a sudden -- >> brennan: china is not coming to the table what are the tariffs accomplishing? >> the moved a lot of people to the table including the european. >> brennan: beijing? >> we'll see about that. you know, as i said before, a key point here is that all of a sudden the chinese are being isolated. ch

it's why i have reached out to the commerce department and u.s. trade representatives on behalf of a number of alabama businesses, from textiles to heating and air conditioning companies, to businesses in the energy sector. each facing their own unique crisis because of proposed tariffs. in fact, since i was sworn in, i have invited representatives from a number of impacted industries to come to my office to share their stories, offer suggestions on what we can do, to be honest about outcomes if we fail to act. mr. president, i did not come to this body to simply sit by and watch and do nothing, especially when i see a need and i need to step up. i said i would follow my conscience, do the right thing to make alabama and america a better place. in that spirit, a short time earlier today, senator alexander and i followed up on our letter to secretary ross to which, quite frankly, we have not yet received a response, by introducing the automotive jobs act of 2018. it's a bipartisan effort to halt president trump's proposed tax on imported cars, truc

commerce department launched hearings into import duties that's import duties on cars and here's why trump's tariffs don't just affect imported cars but vehicles made in the usa too because his measures put a levy on parts as well let's look at two cars honda civic an l d q five the compact car today costs just over seventeen thousand dollars but see what happens when we slap on trump's judy's the price shoots up by almost one thousand seven hundred dollars the luxury s.u.v. comes off even worse a price increase of almost nine thousand either the consumer all the company will have to eat that cost of higher costs means cutbacks from the u.s. tariffs alone that could mean as much as one hundred ninety five thousand jobs lost factor in retaliation by foreign countries on an equal basis as many as six hundred twenty four thousand u.s. jobs could be slashed and today workers in the industry have made their anger clear . inevitably everyone arrived but auto pick up trucks made in the u.s. even japan's toyota belongs to the u.s. automakers alliance along with names like general motors ford

department of commerce could have some troubles finding someone who actually supported the. yes you're right. old but one of forty five witnesses scheduled to testify today are expected to testify against plan to impose tariffs on imported cars and car plants only one representative on a labor union of fifty united automobile workers expressed today a sort of measure and supports saying that decades of disinvestment and all showering of you as jobs by multi-nation oil companies has weakened you and economic security as a nation but old al gore witnesses i was listening to were quite sure they once did the consequences of such terrorists would be on the floor scene and this stressed that the you ask car industry is thriving so there is no case here no threat to u.s. national security ok so let's cross over to new york now yes we heard about consumers and employees already but what will be the effect on companies themselves well quite simply the margins in the u.s. car industry are actually that's true for the car industry globally are not very high so meaning if costs increas

compliance offices it was only in april that the company suspended most operations after the commerce department imposed a seven year ban from buying u.s. components and technology said he relies on u.s. companies for nearly one part in every four that go into its networking hardware and smartphones said t e pleaded guilty in march two thousand and seven teen to having shipped equipment to iran and north korea in violation of u.s. sanctions after they were slapped with a fine the company promised to discipline employees involved in the scheme but the commerce department said this week that those employees were paid bonuses instead. england fans celebrating in the north capital yesterday after their team's win against colombia with mentions of course coming home after a dramatic day at the world cup that saw their side progress to the quarterfinals for the first time since two thousand and six. so much excitement for england and we want to talk about that with our social media editor william no uncle kraft and also we have our correspondents all over moody who is in moscow for us ali let's start

the commerce department's hearing a lot of opposition on this. they might be much more narrow.onnie: this is going to hurt the auto sector, not only in the eu and making manufacturing in the u.s., u.s. car companies are lobbying against this. how much painted this in still? give them, we don't really know how they will be imposing this or what it will look like. import $300 billion plus of autos and auto parts. chain,s of the supply it's very entrenched with other countries. it's a global industry. , it's difficult to predict, especially given we don't know how these will be tailored. they could be much more limited. if that's an across-the-board tariffs, the pain could be significant. it would translate directly into auto prices for consumers. vonnie: a couple of more things while we have you, what is going on with the you one? in a policy coordinated world? libby: that's a question for our china team. they said that it has depreciated over the last few weeks. tariffs or to the the threatened tariffs, there is theaction to the fact that growth prospects of been diminished. the

there were protests on capitol hill today as the commerce department held a public hearing. the tarie rote american jobs, but as jericka duncan reports, some predict they will do the opposite. >> the word tariff is nothing more than a tax. >> reporter: at this honda dealership in new york, general manager brian benstock says these days, he is warning customers and employees, price hikes could be coming. >> what we are telling our customer is to buy now, now is a good time. prices will potentially go up. it'll put some fear in the market, and fear is not a good thing. >> reporter: the proposed 25% tariff on imported cars and auto parts from europe and elsewhere could give buyers sticker shock. consumers could be shelling out nearly $7,000 more per vehicle. the honda civic could cost an extra $1,100. the ford escape, up nearly $1,600, and the audi q5 could run nearly $6,000 more. and it's not just those shopping for cars-- the entire auto sector could take a hit. according to an industry study, the impact of tariffs could have the opposite affect of helping the u.s. car and pa

the commerce department received 2300 comments with a wide range of views. insurance industry, for example, believes your insurance rates will go up if a 25% tariff goes on auto parts. it costs more to repair a car. they believe a 25% tariff would add 2.7% to your auto insurance bill. car companies say cars would be more expensive. auto union workers protested with a drive-in. they drove cars they made in america around the commerce department and around the capital. the commerce department would not let media cameras inside of the building for the hearing. they do offer a webcast, showing just the panel, not the crowd in the room. on the panel the european trade commissioner gave a stern warning to the commerce department. >> imposing restrictive trade measures on steel and aluminum, trying to justify them on national security ground. taking unilateral trade measures against china and using aggressive rhetoric at allies, these measures are disruptive to alliances when we should be coordinating. they work against the global order when we should be consolidat

general motors' ceo mary barra firing off a letter to the commerce department saying the american automaker may have to scale back its business if tariff threats on european automakers become reality. we have got it all covered. we have blake burman, ambassador rufus -- [inaudible] the president of the national foreign trade council and the ceo and president of the american apparel and footwear association. we'll be talking trade. we are less than an hour now to the closing bell. i'm ashley webster in for liz claman. let's begin the "countdown." ♪ ♪ ashley: breaking news for you. after taking over time warner, at&t has announced it will be raising the price of its directv now streaming service by $5. the service's cheapest package will increase by 14% to $40 per month. that begins july 26th for new customers, the change for existing customers will be rolled out based on their billing date. shares of at&t not really reacting, essentially flat on the day at 32.11. it is the first day of the new trading month and the third quarter. what happened to this year? it's flying by. right now the mark

established in the 1970s and has players from a whole bunch of executive agencies coming on the commerce department and intelligence community, et cetera et cetera. and they were starting to acquire american firms. mostly at that point in the energy sector and there was a concern that it's an arab nation were company that tied to an arab company that wants to buy a big american well company. doesn't that have national implications if they control our energy. so set up in the 70s in the industrial ages much unlike what we have today. in those days was pretty clear. company a overseas company be in the united states. maybe they should look at that and see if there's other potential concerns. fast forward to today in the information age, it's a lot more complicated if a foreign company or investor wants to get their hands on some of the technology. what we look at is how the committee is not very well equipped to deal with these transactions that also involve not steel not gas but information. an example is a company last year that wanted to buy money grab which is this money company in the u.s. not u

they were to violate the terms of the agreement, the us could draw on this, and then the us commerce departmentn to be lifted. as you say, shares surged on the news. on the hong kong stock exchange, they were up about 24% at one point, and on the shenzhen stock exchange the most they can do is 10% and they reached that limit. this is one of the last issues to be resolved. they have paid the $1 billion fine and they haven't prevented the compliance team and change the management. and this is the last thing, putting money in the holding account. critics in the us from both sides say this does not resolve the issue of national—security. they say they violate issues of nationals to be to put ina violate issues of nationals to be to put in a statement the us commerce department said it was the toughest penalty and strictest compliance regime they have ever imposed in such a case and they have defended it saying it would deter other chinese deli communications companies from doing similar things. thank you very much. that is the latest on zte. let's look at markets in asia. after bruising session the

established in the 1970s and it has players from whole bunch of executive agencies, the pentagon, commerce department et cetera, the intelligence committee and was set up the time when foreign companies are starting to acquire american firms. mostly at that point in the energy sector but there was a concern that if the arab nation or a company with ties to the government wants to buy american oil company does and that potentially have national security indications of the control our energy supply. it was set up in the 70s in the industrial age, if you will, much unlike what we have today. in those days it was pretty clear. company a was to buy company be in the united states and maybe the committee on foreign investment should look at that and see are there potential concerns there. fast forward to today and the information age it's a whole lot more completed. it's a foreign company or investor wants to get her hands on, if not the company itself, some of the technology within it so what we looked up was how this committee is not well-equipped to deal with some of these much more sophisticated protec

commerce department launched hearings into the import duties now here's why trump's tariffs don't just affect imported cars but vehicles made in the usa too because his measures put a levy on parts as well as to look at two cars a honda civic and an audi q five the compact car today costs just over seventeen thousand dollars but see what happens when we slap on trump's juvies now look at that the price is almost shot up by almost one thousand seven hundred dollars and the luxury s.u.v. comes off even worse an increase of almost nine thousand dollars how much of that consumers will actually pay depends on how much the companies are willing to eat the costs and higher costs mean cutbacks the peterson institute which worked out these stats also reports that job losses from these tariffs alone could be as much as one hundred ninety five thousand now factor in retaliation by foreign countries on an equal basis as many as six hundred twenty four thousand jobs could be slashed and today workers in the industry have made their anger clear. inevitably everyone arrives but pick up trucks made in

>> the eu is desperately lobbying wilbur ross and his commerce department not to impose a new set ofn auto imports. a veryuld potentially be big problem for the eu, because of germany the largest -- is the largest european exporter of automobiles to the united states. this has the potential to create a fault line within the eu. jean-claude juncker as well as the eu's trade chief will be heading to washington later this month to discuss the trade issue with donald trump. whether or not they can come to any kind of agreement is very unlikely. the eu commission at this moment does not have a mandate from the 28 member states to actually engage in any kind of substantial negotiations, so we expect that there will be more of a broader discussion happening in washington. there is some heavy lobbying going on. the commission sent a letter to the commerce department as part of its effort to avoid those car tariffs. manus: what will the eu do if the u.s. imposes the tariffs on their auto imports? we as the eull, has done all along, and -- as the eu has done all along, and they seem to be good

reporter: according to sources in the commerce department.hina mobile applied for application to compete with one of the big carriers, verizon, sprint, t-mobile. they wanted to build cell phone towers, build a network in the united states. they billed themselves as largest global carrier with 649 million subscribers. however there looks like on national security concerns among other things they're going to be denied an application according to my sources. now that is because the parent company of this, they incorporated in delaware, the parent company traces back to the government of china. and they can not, the concern was, that 74% of the company is owned by the state of china, therefore under national security concerns they will be denied an application to build a network here in the united states. back to you. david: very interesting. edward, thank you very much. melissa. melissa: more breaking news. sarah sanders just announcing at white house press briefing that secretary of state mike pompeo will travel to north korea on thursday to me

there were protests on capitol hill today as the commerce department held a public hearing. the tariffs are meant to protect american jobs, but as jericka duncan reports, some predicts they will do the opposite. >> tkeneral manager brian benstock says these days he's warning employ hikes could be coming. >> what we're telling our customers t now's a good time, prices will go up. potentially go up. market and fear is not a good thing. >> reporter: the proposed 25% tariff on imported cars and auto parts from europe and elsewhere could give buyers sticker shock. consumers could be shelling out nearly $7,000 more per vehicle. the honda civic could cost an extra $1,100. the ford escape, up near $1,600. and the audi q5 could run nearly $6,000 more. and it's not just those shopping for cars. the entire auto sector could take a hit. according to an industry stud yib, the impact of tariffs could have the opposite effect of helping the u.s. car and parts industries. a 25% tariff on aught poetive and parts imports could lead up to 2 million fewer u.s. vehicle sales and could cost nearl

sanctions on iran and north korea the commerce department removed the ban shortly officer t. paid a four hundred million dollar bond to two u.s. bank as part of a settlement which last month said he relies on american made components for smartphones and was forced to shut down most of its operations after the battles announced in april. when washington's trade tariffs against china took effect on july the sixth the country retaliated with counter tariffs on the same day now that move will impact a slew of american agriculture products including soybeans and it's not just a blip on the radar sending soybeans to china is worth fourteen billion dollars a year to the united states. oh in villa easy on a is soybean country raymond checks night a says his crop is coming along well this year. it will relook being but if the trade spat between the united states and china doesn't tend soon his market is gone six night to says he could lose more than one hundred fifty thousand dollars thanks to the twenty five percent china slapped on u.s. imports in response to trump's tariffs. i don'

commerce department maintains that china mobile which has around nine hundred million customers worldwide poses a national security threat it's applied the same term to other chinese telecoms firms including that which is accused of doing business with north korea and iran after already having violated sanctions. while way which the united states accuses of trying to spy on american people the backdrop to all of this at tit for tat terrorist spot between the united states and china that's showing no signs of letting up a far cry from the relationship of the world's top two economies hard when china mobile first applied to operation the united states back in twenty eleven and of course markets are watching all this very closely trading wrapped up early on wall street ahead of the fourth of july public holiday and we asked our financial correspondent what traders have to look forward to when they get back. investors on wall street certainly can take a breather on a fourth of july to get a ready for a big friday when all those tariffs whiz than the united states and china supposed to kick of

commerce department maintains that china mobile which has around nine hundred million customers worldwide poses a national security threat it's applied the same term to other chinese telecoms firms including. which is accused of doing business with north korea and iran after already having violated sanctions. while way which the united states accuses of trying to spy on american people the backdrop to all of this at tit for tat terrorist spot between the united states and china that's showing no signs of letting up a far cry from the relationship of the world's top to connally's heart when china mobile first applied to operate in the united states back in twenty eleven. of the wall street where trading early ahead of the fourth of july celebrations tomorrow friday is going to be an even bigger day. before the storm before those tariffs from both sides the for the u.s. and china hit the trade certainly remains all the rage here on wall street and it looked like the calm before the storm but then actually we saw reports that chip maker mike went to good knowledge has been blocked to sell ce

meanwhile, the us commerce department is deciding whether washington should limit cars made overseasring its market. what impact will they have in japanese and other asian carmakers? janet lewis says they are analysing the next move is. the key differences are going to be forked carmakers in nafta and those who import. exhibition motors imports exclusively from japan, nasda mostly from japan with a little bit from mexico. in contrast, a company like honda is very localised. they would be much less impacted as long as the ta riffs be much less impacted as long as the tariffs for now were limited to outside nafta. how could these carmakers, the japanese carmakers you mentioned, how could they potentially protect themselves and what are they doing as a response? in terms of protection, u nfortu nately in terms of protection, unfortunately there is little in the way of near—term solutions. if you think back to when you have the first push of localisation it was in response to quotas and pressure at the time of the paris are caught. and so they responded by locating planets, parked —— pri

its fastest rate for four years posting second quarter growth of four point four percent the commerce department said that the expansion is being powered by a rebound in consumer spending in exports and firm business investment analysts believe that president trump's tax overhaul may have encourage consumers to spend their extra money in stores there appear to be confident about the future of the economy as more and more general goods was sold like washing machines or refrigerators congress passed from one point five trillion dollars tax cuts to boost economic growth as a brand from the frankfurt stock exchange down to impressive figures but how did the markets take it. well trading is done here for the week and the routes have execs close actually where the six weeks higher at the level of trust thousand eight hundred and sixty points the next goal year off investors will be again the thirteen thousand point mark well given the fact that also trading on wall street was receiving the latest g.d.p. figures quite well a slight plus there this has given cheers also here a little boost before the we

the macron news comes fresh off in administration's proposal from the commerce department to block chinafrom entering into the u.s., that of course is a large telecom giant in china. 73% stake from the chinese government invested in macron, that sent shares down to a four-year low as a result of that recommendation from the commerce department to president trump. now we have the macron news where folks are literally being turned around as a result of this escalating tension. all of this comes a head of friday, july 6 deadline when we are exhibiting the anticipation will enact the $36 million with the tariffs and the first round, china says they are willing to play right back in that they have tariffs of the run they will respond with. onry: ahead of those tariffs friday, do we know at this point if the white house is keeping aligned indication with beijing? are.: they i spoke with several sources or tell me repeatedly they are continuing ongoing talks. the right now, it doesn't look like there would be any type of appeasement with regards to trade. the second point i would make quickly h

maria: this ahead of the commerce department hearing on all tariffs.his morning, take a look, futures indicating lower opening for the broader averages, down just real down 40 points, nasdaq down 20, major indices closed mostly higher yesterday,

the us commerce department asked that question in a hearing this morning.... at the request of the white house, which is considering tariffs on cars produced by foreign car companies. (grant) many american auto workers actually work assembling "foreign" cars like bmws, toyotas and kias. our washington d.c. correspondent brie jackson reports lawmakers joined autoworkers to make a case against the tariffs nats:on the streets of washington d.c....to the sidewalks of capitol hill....america workers from across the country are showing pride in the foreign cars they help build. senator doug jones says his state...alabama...and others rely on the auto industry to survive. is thriving in large measure because of our automobile manufactures and the way we export so many of our automobiles not only around the country but around the world.a group of autoworkers teamed with lawmakers to urge the administration not to impose new taxes on cars, trucks and auto parts. lawmakers, builders and suppliers say the proposed increase could drive down demand and threaten jobs. presi

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commerce department watched hearings into the import duties on cars.rump's tears do not just affect imported cars but vehicles made in the u.s.. his measures put a levy on parts as well. the compact car today cost just over $70,000. see what happens when he saw fun trumps today's? the pressure to. -- price shoots up. how much of that will consumers actually pay depends on how much the company's ability to a just cause -- costs. the bbc for debbie stats and report the job loss from the stairs alone could be as high as 195,000. if we factor in retaliation from foreign countries, that could be as high as 624,000. today, workers in the industry have made their anger clear. >> inevitably, everybody arrived by auto. even japan's to blog silly american automakers alliance. all of them produce in the u.s. and all are affected. >> if we put very high taxes on cars in the united states and keep in mind, every single car or truck sold in america would face price increases. higher taxes will lead to fewer sales. less production will risk american jobs. >> hundreds

commerce department launched hearings into the import duties here is why trans terrorists don't just a fact important cost but vehicles made in the u.s. too because his measures put a levy on parts as well so let's look at two foreign cars the first one hundred civic and an audi q five now the compact car today just over seven hundred thousand dollars but see what happens when we slap on trump's u.t.c. surprised by almost one thousand seven hundred dollars the luxury asked. even worse a price increase of almost nine thousand either consumer or the company will have to eat that costs and higher costs cutbacks now from the u.s. and that could mean as much as one hundred ninety five thousand jobs lost factoring in by foreign countries on an equal basis as much as six hundred twenty five thousand hewas jobs could be slashed protesters in washington have made their anger clear. inevitably everyone arrived but auto pick up trucks made in the u.s. even japan's toyota belongs to the u.s. automakers alliance along with names like general motors ford and folks. all of them produced in the u.s.