trump's involvement was critical as our own edward lawrence just reported. but as former ambassador david friedman and others have noted, middle east war is not over. according to reports, israel i troops will be allowed to remain for 6 weeks they are then expected po live, so-called phase 2 mandates a complete israeli withdrawal from gaza and some kind of a permanent ceasefire. at least a thousand palestinians including 200 who murdered israelis, they will be released from israel prisons, well, are they just going straight to gaza and resume their violent jihad against the israel and america? meanwhile, numerous reports suggest that hamas is regroup, we cruiting and reenergying. hamas leader sinwar was killed by israeli forces, but his brother mohamed sinwar is the new leader, if -- a big if, hostages are released in two phases, and israel troops are mandated to live gaza, and a thousand palestinian prisoners will be released from israeli jails, and hamas' rebuilding itself, how can this be a good deal? now president trump is praising the deal. as an epic c

and chump's war on sanctuary cities with senate judiciary chair chuck grassley and first up, edward lawrence the white house. edward, so what do you make up today, edward? what's happening down here? reporter: boy, can we try ask keep up is the issue here. two full days in the trump administration and companies are starting to flock and want to invest in the united states and latest announcement is star gate and data centers that will be based in texas and dealing with artificial intelligence on the first investment to this is $100 billion and that investment is today to expand to $500 billion and this commitment by softbank, open a and i recollects oracle to expand that and 500 billion and ceos with the white house and the reaction is positive. >> we're in a race against communist china and ai and best ai. i think it's my time that we pour money into it. it's the way that it'll -- it's the wave of the future and look, it's the way that battles will be fourth quartering in the future. >> president trump also expressing intent to renegotiate usmca early and it's an agreement that he ratified

fox business white house correspondent edward lawrence live on the north lawn for us this morning. >> president donald trump taking aim now at the i.r.s. which he says was beefed up under the biden administration. the new president saying the biden administration weaponized the i.r.s. against americans making less than $4 hundred thousand a year. i.r.s. under the biden administration struggled to find a way made limited progress in figuring out how to audit less people in the income bracket. increased agents or increases in the numbers of audits. president trump had an idea what to do with the new workers hired under the biden administration. >> president trump: they hired or tried to hire 88,000 new workers to go after you and we're in the process of developing a plan to either terminate all of them or maybe we'll move them to the border. >> an inspector general report in 2024 found audits on taxpayers making less than $4 hundred thousand accounted for more than 90 percent of all audits tense 2019 and 2023. democrats brushing over the inspector general report going after the treasury

edward lawrence, thanks for a great update. appreciate it very much. folks, mr. trump tells mexico and canada, america first, and that's the subject of the riff. if president trump believes that mexico and canada are damaging america's national security by failing to sufficiently help us on the border to prevent illegal crossing ands prevent the influx of fentanyl or other drugs, or not helping us to defeat the mexican cartels and i believe he's absolutely right to use his tough tariff diplomacy by slapping 25% tariffs on both countries. that includes the 10% tariff hike on china, which is supplying the fentanyl drug components that are then manufactured in mexico and then sent across the u.s. line. china by the way is subverting the usmca north american free trade deal by building plants in mexico and dumb 7ing cheap cars into the -- dumping cheap cars into the u.s. and without adheres to u.s. domestic content and other rules. the announcement by press secretary karoline leavitt, president trump made up his mind and will impose these tariffs tomorrow and it's ve

17%, huge cella president trump issued a new threat to the 88000 irs agents hired under biden edward lawrenceis the threat. >> reassignment or termination, president donald trump going after the irs that was beefed up under the biden administration the new president is saying biden recognize irs against americans making less than $400,000 a year. under president joe biden the irs made limited progress in figuring out how to audit less people in the income bracket they increase the agents so across-the-board increases in the number of audits president trump has an idea to what to do with the new workers hired under president biden. >> they hired or tried to hire 88000 new workers to go after you and we're in the process of developing a plan to terminate all of them or maybe we will move them to the border. >> the inspector general report founded 2024 that audits on taxpayers making less than $400,000 a year consistently accounted for 90% of all audits between fiscal year 2019 and 2023 democrats brushing over the inspector general report and going after the treasury secretary nominee the firm h

first up, our own edward lawrence live at the white house. edward, what do you got? reporter: larry, big news of the day, about 20 minutes ago president trump signed a memorandum over aviation safety assessing aviation safety, and within that stressing competence over dei when related to hiring. the president said the nation is in mourning over the 67 people killed in the midair collision flight -- american flight 5342 on final approach at 9:00 p.m. last night at reagan international airport and collided with a military black hawk helicopter on routine training mission and transportation secretary sean duffy said the plane and helicopter were in contact with the tower and a major mistake happened. president trump believes dei hiring practices from the biden administration may have played a part, listen. >> the physical examination aa's diversity push includes focus on hiring people with severe intellectual and psychiatric disabilities. that is amazing. and there's faa saying people with severe disabilities are most underrepresented segment of the work force and they

brian nast and trump's war on sanctuary cities with chuck grassley but first up, edward lawrence live at the white house. edward, so what are you making up today, edward? what's happening down there? reporter: yeah, boy, can we try and keep up is the issue here. larry, yeah, you said it, two full days into the trump administration and companies are flocking in to invest in the united states. the latest announcement is star gate and data centers based in texas dealing with artificial intelligence. the first investment to this is $100 billion. that investment is today and it'll expand to softbank, open a and openaiand oracle and today e reaction is positive. listen. >> we're in a race to see who is going to pour money into it and that's the wave of the future and also going to look. >> it's going to renegotiate the mca early and agreement he ratified if the first term and renegotiations and starting after july 1, 2026. canada's minister of intergovernmental affairs looking forward to working with president trump's administration to further strengthen collaboration between our two countr

fox business edward lawrence live from the white house with all the latest it is a new dawn. >> a veryone at that. it's interesting not even 24 hours president trump has been president again in reversing much of what president biden had done president trump signing executive orders reversing 78 actions that the previous administration had done those include executive orders and actions closing the u.s. border, reversing electric vehicle mandates and making lowering cost a directive overall government agencies the president signed an executive order stopping regulations from going forward as he plans to eliminate regulations for everyone created he believes he needs more legal migration because more jobs are coming. >> we needed we're going to have a lot of companies coming into avoid terrorist if you don't want terrorist yet to build your plan and the u.s. so we will have a lot of workers coming in but we have to have legal immigration. >> on tariffs, the cost will be imposed on goods crossing from canada and mexico into the u.s. and a week and a half. >> were thinking in terms of 25%

. >>> we want to get the latest on the search and recovery efforts, let's get to edward lawrence at reaganl airport now. edward. >> reporter: yeah. and out of that news conference we did learn this is a recovery now effort there. to senator johnson's point on this, the transportation secretary, new one, sean duffy, is not saying when communication played a factor in terms of who's communicating with what and was there miscommunication as to to this plane coming in. we do know that the the helicopter pilot did know there was a plane in the area on final approach landing at this airport here. we do not know though if the pilot of the plane knew there was a helicopter in the area on this. it's a very busy air a space here, and the pilot was landing on final approach from the south here on this runway, it's runway 33 is where he was coming into. now, according to the mayor of d.c., they have recovered now 27 people from the plane, 1 person from the helicopters and that concern -- helicopter, but this has been moved to a recovery effort here. the american eagle flight 5342 was coming in from wi

stuart: edward lawrence at the white house under snowy conditions. thank you, edward. get back to you later. check the markets and dow is up nearly 200, look at nasdaq, up 1.9%, major gain. 373 points in the paints. jason catastrophe with us this -- jason katz with us this morning. i think, and i believe you're agreeing with this, there's two things to watch out for in 2025. 2025: the fed and trump. start with the fed. what do you think they're going to do? >> truthfully it's what they're not going to do. they're going to be moving slowly as fast as they can. all the prognosticators, stu, got it wrong. they called for six rate cuts last year, we got half of that. at best, we're going to get two cuts this year. they're in a tough spot, they're walking a tight rope. they want to ensure the job market doesn't fall off a cliff and yet have to keep inflation at bay. what they've done recently is front run trump's tariff plans and immigration and fiscal plans, and they're doing that by indicating fewer cuts. i would curb your enthusiasm when it comes to multiple cuts this ye

edward lawrence of the white house. biden doing. >> president biden making it tougher the trump administration coming in president biden this morning rolling out new regulation that would permanently ban oil drilling on the lower shelf of southern coastal waters. president biden using outer continental act passed in 1960 through four with a permanent ban but not clearly saying the future president can undo the action. congress may have to jump in or this could mean an electing court battle for the trump administration. >> i'm calling today on the united states congress to lift the new moratorium. it can harm consumers and undermine american energy security. >> oil and natural gas industry they they oppose this and president biden releasing a statement this morning saying we do not need to choose between protecting the environment and growing our economy or between keeping our ocean healthy. our coastline is resilient in the food security keeping energy prices low laser false choices. the president quietly adding a rule

edward lawrence is live with us at the white housement how's this going to work, edward?goods coming in. everybody knows the internal revenue service. the external revenue service will collect tariffs, money, from other countries as they do business with the u.s. under the next trump administration. president-elect trump on truth social says that the u.s., quote, will begin charging those that make money off us with trade, and they will start paying finally their fair share. the new agency would oversee tariff collection like possibly 25 president tariffs on mexico and canada. the president-elect wants 60-100% tariffs on chinese goods, also 100% tariffs on brics countries including brazil, india and others. he vowed to impose a 10% across the board tariff on goods coming into the u.s. which some say won't have a big effect. listen to this. >> right now the american consumer is hurting from the price of eggs and milk and household staples. those are not the goods that are going to be impacted by tariffs, you know? if certain imports from if around the world, we have to loo

edward lawrence is live from the white house. edward?ed for a long time. the new crypto czar, david sacks, really one of the smartest guys in the universe. financial guys and he knows this. what did he have to say? reporter: next to you, david, smartest guy. he basically said that, you know, this is promises made, promises kept. the trump administration is now signed an executive order stopping government agencies from taking actions against cryptocurrency. they also created through executive order a working group that david sacks, the czar of a.i. and crypto, is going to chair. now he talked exclusively with fox business about what the group plans to accomplish, and where the biden administration led the industry astray. >> the biden administration is basically prosecuted and persecuted crypto companies really driving them offshore. i've heard so many outrageous stories by founders and entrepreneurs. the biden administration would not tell them what the rules of the road were, and they would then get prosecuted and what the industry wan

edward lawrence is at the white house. so, edward, where would that money go?: yeah, it would into the u.s. via trade. companies are already starting to pour big money into the u.s., and now as you heard, the crown prince of saudi arabia wants to throw big money towards trade with the u.s. prince mohamed bin salman wants to the invest $6000 billion in trade -- 60 billion, over the next four years. president donald trump talked about fixing the the relationship with countries in the middle east. on monday he said he could make the trip to saudi arabia as his first international visit as he did the first time around. >> so first foreign trip typically has been with u.k., but we did it, i did it with saudi arabia last time because they agreed to buy $450 billion worth of our product. i said, i'll do it, but you have to buy american product, can and they agreed to do that. they bought $450 billion. it was the least reported story i've ever been involved in. >> reporter: now $600 billion. the president believes saudi arabia could be entered9 into the abraham accord

we will urn right fox's edward lawrence has more from the white house. >> after going dark for several back in business in the united states. tiktok's owners thanking president trump for helping save their app. the president indicated before his inauguration that he would not enforce a law effectively banning tiktok, and wants to work with lawmakers to find a solution. just last week, the supreme court upheld a law mandating tiktok be sold to an american buyer or go dark. in the u.s. it was passed with bipartisan support, but some lawmakers on capitol hill significantly underestimated tiktok's power. >> they thought that it was an app where people spread cat videos and dances and goofed off. they equated it with tide pods and ridiculousness. in reality, it's an ecosystem that has created a huge portion of the american economy. >> still, it's not clear what's next for tiktok. president trump has floated the idea of co-ownership with an american company, so the u.s. government would have more control over the app's data collection and where that data goes. but for now, users and content

edward lawrence with fox business.id there's a broad range of possibilities, but last september you said, quote, we understand that there's been quite an influx across the borders, and that has actually been one of the things that's allowed unemployment rate to rise. now that the flow of the border has slowed and we're seeing deportations, how do you expect the unemployment rate to react? >> you know, so what's happening is that the flow across the border has decreased very significantly, and there's every reason to expect that to continue. and so, but job creation has come down a bit too. so, you know, if those two things come down together, that sort of can be a reason for the unemployment rate the stabilize. in other words, the break-other than rate as population growth slows, the break-even rate that you need in new jobs to make, to make jobs for workers declines as well. so that seems to be something ab what's happening. you do see a very flat if unemployment rate at a time when you've seen significant declines. >

crypto example of the world creation of national stockpile edward lawrence spoke with trump's ai cryptor david sacks, agencies from developing central bank digital currencies. >> cbdc's threat to freedom, liberty talking about moving to a central bank digital currency would be run out of washington, by the fed and basically gradually replace cash, the transactions could lead to new laws dictates how people spend more than so i think people are very concerned, that that could be a path to go down no one wants to go down that path i believe should extend the dollar's dominance into dame areas online could create trillions of dollars for u.s. treasurys would be useful for us supporting debt bringing down long-term interest rates a. >> joining me sam stovall your reaction to interview with david sacks. >> good to talk to you again, certainly, light on details but i think what the president is doing, is satisfying one of his campaign promises, really looking to promote the advancement of crypto, but also looking to sort of lay groundwork establishing technology, and the rules to doing that.

but first, edward lawrence, live at white house. what you got? reporter: let's start with big news. about 20 minutes ago president trump signed a mmemorandum over aviation safety. the nation is in mourning over 67 people killed during the midair collision, american flight 5342 on final approach, to reagan national, collided with military black hawk helicopter on a routine training mission, new transportation secretary sean duffy said that plane and helicopter were in contact with the tower, a major mistake happened, president trump believes that tyre d.e.i. hiring practices with biden administration may have played a part. >> faa diversity push includes focusing on hiring people with seve intellectual and psychiatric disabilities that is abecausing. reporter: pete buttigieg calling that accusation despicable adding that president trump oversees militaries and faa. ntsb has taken over the investigation and will not speculate to the cause. >> our attention to have a potential report within 30 days and final report will be rei issued 1 we have completed all our fact finding and investi

don there on capitol hill, thank you meanwhile, president trump is getting straight to work, edward lawrenceeporting, lights on in residence signed off on 46 executive order actions. >> very simply we're going to make our country great our country great again america great again let's see what happens because we're not finished yet cheering cheering we're not finished yet. >> we've got a long way to go. cheryl: some orders include withdrawing from climate agreement world health organization declaring national energy emergency restoring federal death penalty protecting subsaid the order a declared emergency ordered wall resilient, "catch and release", "remain in mexico", and classified cartels as foreign terrorist organizations, parole applications i bring in ashley hinson member health appropriation china select republican study committees i start on china select committee i want to ask you about this one of the instructing attorney general not to enforce ban often tiktok for 57 days there have been reports that president there wants to speak with xi jinping we foe sponge last friday wants t

going live to edward lawrence at the white house. are we hearing he wants to closer to $1 trillion? >> reporter: he would love to see that closer to 1 trillion. always the negotiator trying to push the envelope. donald trump speaking to the world economic forum saying america is open for business. not only that, he will work with companies to try to get their permits expedited through emergency orders he has given. he told the leaders of the world economic forum he wants to lower the corporate tax rate to 15% if you make your product in the united states. >> my message is simple, and the lowest taxes of any nation on earth. from the original trump tax cuts. if you don't make your product in america which is your prerogative, you have to pay a tariff. >> reporter: if nothing changes the flow of illegal drugs, immigration coming across the borders, the president pledges tariffs on countries that include brazil, india command china. he has fielded calls from world leaders promising investment in the us. the latest, the crown prince of saudi arabia vowing to make investments and purchas

without col approval "fox business" edward lawrence with in other from snowy washington, d.c., this morningok at that background good morning edward. >> pretty i know working hard to get rid of snow but as fast as they work it is coming back coming down four inches five inches coming into work president joe biden not giving up on green agenda tried to make it stick through trump administration president biden rolled out rules to permanently ban oil drilling, on the land -- coastal waters of so you were united states on that lower shelf the president using outer continental shelf land actinglawed for permanent ban does not clearly say future president can undo action now congress might have to step in or could mean a court battle for the trump administration. >> the american people didn't vote for less energy development in the united states in fact, energy was on the ballot during this election, energy won, unfortunately these kinds of midnight regulations being put in place by biden administration, are going to undermine american energy security hurt american consumers. >> you know from in

hundreds of first responders are braving the frigid water essential for remains as edward lawrence just reported, 28 bodies have been recovered. right now reagan airport, reagan national is set to reopen in an hour. we just learned we will hear from donald trump at the top of the hour at 11:00. we bring it to you live. good morning, it is 10:00 eastern. plenty of green, dow is up 110 manas tech up 70 points, 10 year treasury yield around 4.5%, 450 at the moment. the price of oil, $72.89. bitcoin had a rally, $159,000 a coin. just in the latest read on pending home sales. lauren: 74.2 is the level, falling after four months of rising. the national association of realtors said contract activity fell most in the northeast and the west and the reason is affordability is cut with high mortgage rates. we won the housing market in the doldrums as we speak. now this. you may have heard this. trump is flooding the zone. rapidfire policy moves one after the other, nonstop touring to the executor borders that show the administration and the government the next four years, issued dozens of orders i

edward lawrence, my question is will this include tariffs or sanctions on canadian oil?reporter: it appears no but it looks more likely 25% tariffs on canadian and mexican goods. looks like possibly headed towards a trade war with canada but justin trudeau spoke about ten minutes ago saying he would meet tariffs with tariffs and they are working to internally increase internal trade in canada and replace the american goods signaling a decoupling of the deadline set by 12 oh one saturday morning, ongoing talks with canadians but no breakthroughs to stop the tariffs. yesterday the president signaled oil is exempt from tariffs, he believes lowering gas prices remains the key to bringing down all prices. >> oil is going to have nothing to do with it as far as i am concerned. >> reporter: there are a few options, the president could impose the tariffs tomorrow, the president could say the deadline was a deadline for a deal. there could be a date in the future tariffs will go into effect and could impose industry-specific tariffs to add pressure. representative roger williams

edward lawrence with fox business. unemployment you said there's a broad range of possibilities, last september you said, we understand there's been quite an influx across the borders and that's actually been one of the things that's allowed unemployment rate to rise. now that the flow at the border has slowed and we're see deportationings, how do you expect the unemployment to react? >> the flow across the border decreased significantly and there's every reason to expect that to continue. and job creation has come down, too. and two things come together that sort of can be a reason for the unemployment rate to stabilize. in other words, a break even rate as population growth slows, the break even rate that you need in new jobs to make-- to make jobs for workers declines as well. so, that seems to be something about what's happening. you do see a very flat unemployment rate at a time when you've seen significant declines. i want to ask you about fed employment. i know that tax money is not used here, but elon musk says

trump's involvement was critical as our own edward lawrence reported. the middle east war is not over. according to reports, israeli troops permitted to remain in the philadelphia corridor separating egypt and gaza for another six weeks but then they're expected to leave, and the so called phase two of the deal mandate as complete israeli from gaza and a permanent ceasefire and meanwhile at least a thousand palestinians including 200 murdered israelis, well they'll all be released from israel prisons, well, aren't they just going to go straight to gaza and resume their violent jihad against israel and america? meanwhile, numerous reports suggest that hamas is regroups, recruiting, reenergizing and hamas leader yahya sinwar was recruited by his brother mohammad sinwar has become the new leader. if, and it's a big if, the hostages are released in two phases, and israel troops are mandated to leave gaza, and a thousand palestinian prisoners released from israeli jails and hamas is rebuilding, itself, how can this be a good deal? steve whit kuff devin benef

fox business white house correspondent edward lawrence is here with more. hi, edward. >> countries have been posturing before president-elect donald trump moves into this building here. me fact, his election may have helped with the resignation of prime minister justin trudeau in canada. certainly on truth social president-elect donald trump believes that's the case. he writes on truth social he says the united states can no longer suffer massive trade deficits and subsidies that canada needs to stay afloat. he adds that trudeau knew this and resigned. there was an internal debate in canada how to respond the threat of 25% tariffs on canadian goods and led to the resignation of the deputy prime minister. now the prime minister is resigning. >> canadians deserve a real choice in the next election and it has become obvious to me, with the internal battles that i cannot be the one to carry the liberal standard into the next election. >> at least one conservative premier believes the resignation shows a public shift mirroring what the united states is going thro

edward lawrence at the white house. all right, edward, what kind of actions? do we know?: not as of yet, but this is what all departments will be looking at, saying inflation will be a top priority, to bring it down, for departments across this agency. so what that means basically, for example, the epa. if they would like to impose a new regulation, the epa must first consider the cost it would impose if on the american people before taking that action. >> i will direct all members of my cab met to martial -- cabinet to martial the vast powers ott -- at their disposal to to defeat what was record inflation and rapidly bring down costs and prices. the inflation crisis was caused by massive overspending and escalating energy prices. >> reporter: declared a national energy emergency allowing the president to reverse restrictions on oil and and natural gas leases. reversing much of what president biden did including reversing the electric vehicle mandate. the president also setting the tone. he spoke to reporters more in the last 20 the hours than president biden kid in the p

edward lawrence joining us at a reagan national airport. no survivors, edward?stand. there was hope that this plane was not far off the ground. the helicopter was not far, about 400 feet, but it appears there are no survivors related to this. so far officially they've found 28 people, bodies from the passenger plane, 1 from the military helicopter. in all, there were 64 people onboard that american eagle flight coming into reagan national airport. there were 3 people that were on the military helicopter coming in here. now, the american aeroairlines flight was on final approach landing south -- from the south of the airport. the collision happened over the potomac if river in fairly hallow water. crews working overnight dealt with icy conditions, some chunks. newly sworn-in transportation egg ebb tear sean duffy would not get into what kind of communication happened, but said the military helicopter pilot knew there was a plane on approach. >> the helicopter in the tower and the airline in the tower, but i will say this, there was, there was communication. of it

edward lawrence joins us now.e north side entrance, you can see the gates are open to the white house complex, the president-elect can come in and they're going to be there to president biden and president-elect trump, melodia and the president, current president and the first lady 40 and coffee inside of there, it could be a very interesting conversation going on inside the white house because of the 11th hour pardon, president biden has made party general milley a anthony fauci your president trump claims for misleading americans of the covid causes and misleading himself president-elect try during the lockdown situation. the president pardoning the members of the general e-cigs commission, members of congress in the staff, that goes as far as to cover the d.c. police officers who were also testifying before the committee, members on the committee include former representative liz cheney and current senator adam schiff, the white house or the republicans in congress the head of the freedom caucus, he is skeptica

. >> dana: edward lawrence, thank you. >> bill: interesting meeting to watch. effect tomorrow. some of them we're told. he is still weighing whether or not to include oil. canadian leaders warn that could sharply raise the cost of gasoline here in america. lydia hu reporting from the great white north in calgary. good morning there, what are you finding out? good morning. >> good morning, bill. excluding oil and energy products from these 25% tariffs that are possibly starting tomorrow would be significant. even though the united states is a leading producer of oil for the world, we also consume a lot, too. we produce 13 million barrels of oil a day but consume closer to 19 to 20 million barrels. we get a lot of it from canada bringing in 6 1/2 million barrels of oil. 3.9 million come from canada. if those 25% tariffs apply to canadian crude oil consumers could bear the burden. it could lead to an immediate jump in u.s. gas prices by as much as 30 to $0.70 per gallon and most of that canadian crude oil comes from alberta, canada. the premier, the governor of th

edward lawrence of fox business is at the white house. it is snowing there. ard, how much does this hurt us energy-wise and cost-wise? >> you know, we can't put an exact figure on it today. the biden administration is trying to make it very difficult for trump administration to do his energy first agenda he wants to get done. this permanent ban on oil and natural gas drilling on the lower shelf of the southern coastal waters will create problems in trying to license and expand the drilling operation that we have. president joe biden used the outer continental shelf lands act passed 1953. it doesn't say a future president can undo the action. only congress with undo it. we could be heading for another court battle if the president elect undoes the action by executive order or new congress could take it on as another priority. >> called the hail mary pass. nothing left and you just throw it up in the air and hope somebody catches it. that's what this is by biden, a hail mary pass. i guarantee it will be reversed. we have so much energy off shore, we should be us

edward lawrence, it is all yours in a busy hour

going to the white house and edward lawrence on the meeting with nvidia ceo o.w you meeting and and leader in artificial intelligence going for them and bringing back the superior chip making to the united states and the two talked about what industry needs to grow including the going with data centers and going for a hit and going down on that and other conversations they might have had and looking for the chinese able to get nvidia chips going to create deepseek getting around the sanctions and fbi reporting on investigation and if deepseek used intermediaries and going for the chips and going for nvidia ceo coming with the commerce secretary with howard lutnick and president biden is president donald trump saying he had a very good meeting with the ceo of nvidia here, and he's trying to figure out how to make sure that industry is solidified here in the united states. liz. liz: we're watching this very closely and nvidia moved to the bottom of the nasdaq and market trying to figure out what it all means and closing bell ringing in four minutes. right before t

edward lawrence is there. do you have more on this, please, edward? >> reporter: yeah. be the first meeting from the second presidency term with yen seven wang, the ceo of nvidia. -- jensen huang. they're going to talk about artificial intelligence and how to to grow that chip-making industry forward, specifically related to manufacturing in the u.s. and also what the chip maker needs to grow in terms of power needs to grow this because nvidia has a number of data centers they're trying to build. there might be also some conversation about if the chinese are able to get nvidia chips in order to create deepseek, getting around the sanctions. the fbi reportedly opened an investigation to see if deepseek has used intermediaries in singapore to buy nvidia chips. president trump would like to see the united states the leader in artificial intelligence as well as this advanced chip making, again, trying to figure out wheys those -- ways those chips don't get to the chinese, at least the most powerful chips to be used against us. stu the? seward. stuart: edward, thank you very

edward lawrence joins me. all right, how much debt has biden forgiven, in total, edward?h, we're talking about a lot of money and the objects of this , that's what the we're really looking at is at a time when the government spent so much money we could reach the debt ceiling in march. president joe biden announcing more student loan forgiveness. this time the total amount of forgiveness, the taxpayers are shouldering is 184 billion roughly for more than 5 million borrowers. the forgiveness announced yesterday came under three programs not sued by the states because the rules were not changed. >> this announcement builds on the historic actions our administration has taken to reduce the burden of student debt. hold bad actors accountable and fight on behalf of students across the country. reporter: still, treasury secretary janet yellen says that between now and january 23rd she could announce the government implementing extraordinary measures to stretch taxpayer money so the government does not reach the debt ceiling before march 14. republicans now vowing to cut that wa

edward lawrence at the white house. morning, edward.re can you tell me about a half trillion dollar investment? >> reporter: good morning. taking a chance on artificial intelligence, i think that's what he's doing. he brought together the biggest ceos in artificial intelligence the make this massive announcement. stargate, the a name of the project, will be the largest data center in the united states, and it will be based in texas. the president brought in the ceo of soft bank, ceo of openai and oracle to make this announcement yesterday. it's $100 billion initially, right now, with a commitment to scale up to $500 billion over the next four years. >> it'll insure the future of technology. what we want to do is we want to keep it in this country. china's a competitor and others are competitors. we want it to be in this country, and we're making it available. i'm going to help a lot through emergency declarations because we have an emergency. we have to get this stuff built. >> reporter: the investment scales up as it comes in the comin

edward lawrence joined us from the white house.oing. >> the president-elect of the world focus on him and, joe biden the currently in the house behind me is going to talk about his legacy which he may see slipping away he's going to talk at the state department later today we were listening for what president biden will not say. he will say he's going to support or did support israel, he will not say that he held back weapons impression israel not to go into the rafah area which ended up changing the work, president biden calling for cease-fire, we expect them to talk about russian sanctions including the latest which designed to go after russian oil sales. he will not mention the invasion happened on his watch. >> as i said he has his own problems economically, significant problems economically as well as politically at home. i decided to do everything i possibly could with the my power and authority to give ukraine and every advantage it could have to sustain support for an independent ukraine. >> one post on true social from the

edward lawrence is live at the white house with the breaking details. what's happening now? [laughter] >> reporter: liz, we call this friday here at the white house, extremely busy. there's nothing now mexico, china or canada can do to avoid these tariffs at 12:01 a.m. 10% tariff on chinese goods, 25% on canada can and mexico. >> china makes the fentanyl, gets it to mexico, puts it through different plaits,s also a -- places, also a lot through canada. all three haven't treated us very well. >> reporter: the president add as oil might be an additional 10% tariff, down from 25% because it's energy, and the canadian prime minister saying he he will respond in forceful, immediate way. >> we're showing the new american administration that they have a strong partner in canada when it comes the upholding border security all while simultaneous ifly underscoring that we won't back down. that that if tariffs are implemented against canada, we will respond. we won't relent until tariffs are removed and, of course, everything is on the table. >> reporter: so i wanted to know about trad

edward lawrence has the details. what will it look like and will it fit the bill here?you are trying to take my job with the dow predictions there. >> bill: not so much but continue. >> the market certainly likes this. the president bringing together the biggest names in artificial intelligence to try and make this massive announcement. star gate will be the largest data center in the united states based in texas initially. the president brought together the ceo of softbank, oracle and chatgpt for the announcements. $1 hundred billion initially up to 500 billion over the next four years. >> president trump: it will insure the future of technology. what we want to do is keep it in this country, china is a competitor and others are competitors. we want it to be in this country and we are making it available. i will help a lot through emergency declarations because we have an emergency. we have to get this stuff built. >> texas will only be the start as the investment scales up in the coming years the data centers will expand to other states. the founder of open a.i. sees

states a crypto capital of the world working toward developing a national stockpile, fox business edward lawrencewith trump's crypto czar david sachs on having a central bank digital currency. watch this. >> cdc is a real threat to freedom and liberty and were talking about moving to a central bank digital currency that would be run out of washington by the fed and will gradually replace cash and catalog everybody's transactions and lead to new laws and dictates on how people spend their money so i think people are concerned that could be a path to go down that nobody wants to go down that path and i believe we should extend the dollar dominance into digital areas extended online and that could create trillions of dollars of demand for u.s. treasury it could be useful to us and basically supporting our debt in bringing down long-term interest rates. >> sapphire vice chairman wolfgang koester i want to get your reaction there is to side there is a crypto and then the bitcoin believers but then you also have them this a they want to stick with the u.s. dollar. goldman sachs from what i'm hearing fr

fox business' edward lawrence spoke with trump's ar and crypto czar david saks on why they ban agencies from developing central bank digital currencies. >> cbd c's a real threat when talking about a central bank digital currency run out of washington by the fed and would basically gradually replace cash and catalog everybody's transactions and it could lead to new laws and dictates about how people spend their money so i think people are very concerned that that could be an orwellian path to go down. no one wants to go down that path. i believe we should extend the dollar's dominance into digital areas, extend it online and i think that could create trillions of dollars of demand for u.s. treasuries, could be useful to us and basically supporting our debt and bringing down long-term interest rates. cheryl: all right, dennis, what do you make of that? >> i think the odds of a central bank currency is probably very small, if there's any chance at all over the course of the next several years. i have been wrong about bitcoin, however. i will openly admit that fact. i've seen no reason to b

edward lawrence at the white house what did trump say about it. >> president-elect trump says he wantsration during negotiation playing out at this inauguration and in public the u.s. supreme court ruled the law banning tiktok was valid the biden administration signaling and would not enforce the law leading to president-elect trump and now he says the 90 day extension to work on a deal, listen to this. >> i said i will approve but left the united states of america own 50% of tiktok i'm approving on behalf of the united states so they will have a partner, the united states and they will have a lot of bitter. >> president-elect trump plans on sunday the tiktok order another one with the national emergency and he will sign a memorandum on inflation making a whole government approach to lower cost as the president is coming to the capital area, listen to this. >> 's under present electron pulling into the area he will make a left turn into the capital, fox news polling two in america want president-elect to focus on immigration, deportation as well as economy, jobs closed behind them and

musk tries to rain on that parade, take it straight to edward lawrence who's at the white house for the latest on the developing story. a lot of moving parts in the elon piece is pretty interesting. reporter: exactly and sam altman replied to elon musk saying they do have the money and he hopes that elon musk would come to the opening of what they're calling star gate. this is investment of $500 billion over four years that these three ceos have committed to the initial investment would be $1100 billin in star gate and happening right away and creating tens of thousands of jobs in the partnership between softbank, openai and oracle. all the ceos announcing the deal of president trump and ceo of or cal saying the -- oracle saying ai data centers helping doctors treat patients and first data center in texas. >> the data centers are under construction and first of them under construction in texas. each build sergeant a half million square feet. there's ten buildings currently being built but that will expand to 20 and other locations beyond the abilene location, which is our first location

and our colleague, edward lawrence, he spoke with the current ambassador the to china about the risese apps. reason to this. listen to this. >> reporter: as tiktok threatened, other apps are rising. you're seeing this as -- is this a strategy by, you think, the chinese communist matter? >> i do think it is a strategy. you know, china is a very significant global power. they want to overtake the united states in power. they want to diminish us. our job is to retain our position and defend our interests. and one of them is the free flow of information. and that's where this data transfer is so important. >> reporter: but some tiktok refugees that we have spoken with say they know the risks, and they're not bothered. they are joining red note anyway. listen to the. to this. >> i think that all of these apps have, like, hose types of risks, and it's -- at the end of the day, if this is what everyone's going to be using then, like, i'll be there. >> reporter: but maybe tiktok refugees, liz, won't have to lee tiktok after all. as you mentioned, president-elect trump's pick for national sec

edward: i'm edward lawrence in for elizabeth macdonald. "the evening edit" starts right now. >> i'm also going to ask all a nato nations to increase defense spending to 5% of gdp. russia-ukraine war would end immediately. i terminated the ridiculous and incredibly wasteful green new deal, withdrew from the one-sided paris climate accord and ended the insane and costly electric vehicle mandate. e.u. treats us very, very unfairly, very badly. we just want to be treated fairly. i blame this on us, and i blame it on politicians who have allowed other nations to take advantage of the u.s. we can't allow that to happen anymore. edward: president donald trump, day three already calling out global leaders and business ceos for taking advantage of american america and american workers saying europe's time is up, and davos attendees are visibly nervous. >> trump has done something no person in the world has ever done before. a dead politician has a prison aren, therefore, he thinks he can to do anything. >> we need to factor in who's won, trump. but

fox business' edward lawrence is live from the white house with all of the latest. ink we're going to need a large spreadsheet going forward, edward, with all of these executive actions. >> reporter: we certainly are. i'm still going through a lot of these executive actions to see exactly what the details of them are but the president taking sweeping action yesterday to reverse much of what the previous administration did. in fact, president trump signing the executive orders and executive actions rescinding about 78 executive actions by the previous administration. now, those include executive orders and actions closing the u.s. border, reversing electric vehicle mandates and making lowering costs for the american people a directive for all government agencies. the president signed an executive order stopping new regulations from going forward. he plans to eliminate a number of regulations for every new one created. president trump believes we need more legal immigration because more jobs are coming. >> we need it because we're going to have a lot of companies comin

now edward lawrence is at the white house with the story. edward good to see you. reporter: this is a massive private investment that's designed to make the united states the lead when it comes to data centers and a.i. this is the data centers to be built in texas, talking about and they will expand to other states and white house official confirms for me it's a joint venture between softbank, open a.i., and oracle. you see where the stocks two of them where the stocks ended up. ceo from all three companies are here at the white house right now for this announcement of an initial $100 billion adding to $500 billion over the next four years. it's a data centers in texas again, eventually be added and expanded to other states. listen to this. >> it's going to be a massive announcement, and it's going to prove that the world knows that america is back. they have a commander-in-chief but also a negotiator-in-chief who will be in the oval office today, and foreign leaders from around the world, investors from silicon valley to wall street, to main street, have confidenc

important to market movements, the first up to 100 executive orders, nobody knows which ones but edward lawrence joins us live from the white house with more on the potential economic policies that we might get a window into our guest today on this first of the second term. >> we already feel that focused on the economy which is what the president now president trump is going to do the first words out of his mouth the golden age of america has now begun the president talking about the change of the dramatic change he wants to make from the last administration in the president got very direct, listen to this. >> with my actions today we will in the green new deal and we will revoke the electric vehicle mandate saving our auto industry and keeping my sacred pledge to our great american autoworkers. in other words, you will be able to buy the car of your choice. >> the president believes he was saved from the assassin's bullet for one reason and his words to make him a great again. he signed executive orders, the first one declaring a national emergency at the southern border reinstating his remain

edward lawrence at the white house for us. what's president-elect trump saying about this?u, he has has a lot to say. president biden believes that justin trudeau resigned because of his own internal pressures. the white house press secretary saying that president biden sees justin due doe as a good friend to the united states -- justin trudeau. on truth social, president-elect trump says the u.s. can no longer suffer massive trade deficits and subsidies that canada needs to stay afloat. he adds that trudeau knew this and resigned. there was an internal debate in canada of how to respond to the threat of 25% tariffs on decade kwan goods, and that led to the resignation of the deputy prime minister, and now the prime minister is resigning. >> canadians deserve a real choice in the next election, and it has become obvious to me with the internal battles that i cannot be the one to carry the liberal standard into the next election. >> so at least one conservative premier believes that the resignation is a result of more than that. she thinks it's a public shift mirroring what

. >> sandra: i want to play this out our good friend edward lawrence got a question at the briefing ase war? >> san >> i don't think so. the president will implement terrorists tomorrow and respond to mr. trudeau's response i'm sure. >> what does the administration need to see to avoid the tariffs? >> the tariffs oncoming on to canada because mexico and canada allowed invasion of the illegal fentanyl that is killing american citizens. >> sandra: i know it has been a big point of years. you know what is coming to mind, the more i listen to the skepticism this will be inflationary and terrorist, where were all these people when inflation was rearing its ugly head, ignoring it and denying it? >> for four years the biden administration increased government spending at an unbelievable record amount. and the federal reserve printed money at unbelievable rapid amount. trump's truths social post after the federal reserve meeting, trump has more worried about inflation than the fed is worried about inflation. so there will be a lot of changes in this government or to let me just tell you that.